Comstock Resources Inc (CRK)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.85 | 2.75 | 2.73 | 2.58 | 2.74 | 2.64 | 2.54 | 2.40 | 2.50 | 3.11 | 3.66 | 4.42 | 3.93 | 5.89 | 4.24 | 3.63 | 3.21 | 3.30 | 3.44 | 2.98 |
Comstock Resources Inc has shown a consistent trend of having a debt-to-assets ratio of 0.00 over the past few years, indicating that the company has not relied on debt to finance its assets. This suggests a strong solvency position as the company's assets are primarily financed through equity rather than debt.
Similarly, the debt-to-capital ratio and debt-to-equity ratio have also remained stable at 0.00 during the same period, further supporting the notion that Comstock Resources Inc has a low level of debt relative to its capital and equity. This reflects a healthy financial structure and minimal financial risk associated with excessive leverage.
The financial leverage ratio, which measures the company's overall debt levels in relation to its equity, has shown a declining trend from 3.44 in June 2020 to 2.85 in December 2024. This indicates that the company has been reducing its reliance on debt financing over time, which is a positive sign for its solvency and financial stability.
Overall, based on the solvency ratios analyzed, Comstock Resources Inc appears to have a strong financial position with low debt levels and a conservative capital structure, which bodes well for its long-term financial health and ability to meet its financial obligations.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -0.75 | 0.42 | 0.69 | 1.28 | 2.46 | 5.59 | 8.44 | 11.56 | 9.19 | 7.92 | 3.78 | -0.04 | -0.05 | -1.35 | -0.86 | -0.14 | 0.74 | 0.49 | 1.34 | 1.86 |
Based on the data provided, Comstock Resources Inc's interest coverage ratio has experienced significant fluctuations over the past few quarters. The interest coverage ratio is a measure of a company's ability to meet its interest obligations on its outstanding debt.
From March 2020 to March 2021, the interest coverage ratio declined steadily and turned negative, indicating that the company was struggling to cover its interest expenses with its operating income during this period. This raised concerns about the company's financial health and ability to service its debt.
However, starting from June 2022, there was a notable improvement in the interest coverage ratio, with the ratio rising well above 1 and reaching double digits by March 2023. This indicates that the company's operating income was sufficient to comfortably cover its interest expenses during this period.
The substantial increase in the interest coverage ratio from June 2022 to March 2023 suggests that the company may have implemented strategies to improve its financial performance and strengthen its ability to meet its debt obligations.
Overall, while the interest coverage ratio of Comstock Resources Inc has displayed volatility in the past, the recent trend of improvement indicates a positive turnaround in the company's financial position.