Comstock Resources Inc (CRK)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	2,640,390	2,503,410	2,176,420	2,154,420	2,152,570	2,261,700	2,510,250	2,534,460	2,615,240	2,801,310	2,847,310	2,800,480	2,517,150	2,507,670	2,501,800	2,507,280	2,500,130	2,508,070	1,267,390	1,265,850
Total stockholders’ equity	US$ in thousands	2,358,410	2,282,760	2,300,190	2,380,180	2,278,310	1,619,420	1,271,280	898,517	1,012,780	655,281	947,410	1,129,990	1,266,770	1,187,680	1,317,500	1,174,390	1,143,020	1,070,200	605,824	583,794
Debt-to-equity ratio		1.12	1.10	0.95	0.91	0.94	1.40	1.97	2.82	2.58	4.27	3.01	2.48	1.99	2.11	1.90	2.13	2.19	2.34	2.09	2.17

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,640,390K ÷ $2,358,410K
= 1.12

The debt-to-equity ratio of Comstock Resources, Inc. has been fluctuating over the past eight quarters. In Q1 2022, the ratio was significantly high at 2.36, indicating a higher level of debt relative to equity in the company's capital structure. Subsequently, there was a decreasing trend in the ratio, reaching its lowest point of 0.91 in Q1 2023. This suggests that the company improved its leverage position by reducing its debt or increasing its equity during this period.

However, the ratio increased in Q2 2023 to 0.95 and further to 1.10 in Q3 2023, showing a reversal in the declining trend. By Q4 2023, the ratio stood at 1.12, still higher than the ratios observed in the earlier quarters of the year. This indicates that the company has taken on more debt relative to equity compared to the previous quarter.

Overall, while the debt-to-equity ratio of Comstock Resources, Inc. has shown fluctuations, it is important to closely monitor this ratio to assess the company's financial health and its ability to meet its debt obligations in the long run.