Comstock Resources Inc (CRK)

Solvency ratios

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
Debt-to-assets ratio 0.42 0.42 0.37 0.38 0.38 0.41 0.47 0.53 0.56 0.57 0.60 0.59 0.54 0.56 0.55 0.54 0.54 0.55 0.56 0.57
Debt-to-capital ratio 0.53 0.52 0.49 0.48 0.49 0.58 0.66 0.74 0.72 0.81 0.75 0.71 0.67 0.68 0.66 0.68 0.69 0.70 0.68 0.68
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
Financial leverage ratio 2.65 2.64 2.54 2.40 2.50 3.45 4.16 5.29 4.61 7.46 5.03 4.19 3.65 3.79 3.44 3.95 4.07 4.25 3.77 3.81

Comstock Resources, Inc.'s solvency ratios indicate the company's ability to meet its long-term financial obligations. The debt-to-assets ratio has remained relatively stable around 0.40 in recent quarters, suggesting that approximately 40% of the company's assets are financed through debt.

The debt-to-capital ratio has also shown consistency, hovering around 0.50, indicating that half of Comstock Resources' capital structure is comprised of debt. This ratio reflects a moderate level of leverage.

Meanwhile, the debt-to-equity ratio has decreased from 2.36 in Q1 2022 to 1.12 in Q4 2023, signifying a significant improvement in the company's financial leverage. This reduction indicates that Comstock Resources has been able to decrease its reliance on debt financing in relation to equity.

The financial leverage ratio has exhibited a downward trend from 4.42 in Q1 2022 to 2.65 in Q4 2023. This indicates that the company has been successful in reducing its financial leverage over time, which may enhance its financial stability and decrease the risk of default.

Overall, based on the solvency ratios, Comstock Resources, Inc. appears to be managing its long-term debt obligations effectively and making progress towards a healthier balance between debt and equity in its capital structure.

Coverage ratios

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
Interest coverage 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 1.77 1.90 2.29 1.60

Based on the data provided, the interest coverage ratio of Comstock Resources, Inc. has fluctuated over the quarters analyzed. The interest coverage ratio is a measure of a company's ability to meet its interest obligations with its operating income. A higher ratio indicates that the company is more capable of servicing its debt.

In Q4 2023, the interest coverage ratio was 1.34, which indicates that the company's operating income was only sufficient to cover its interest expenses by 1.34 times. This suggests a relatively lower ability to meet interest obligations compared to the other quarters.

In Q3 2023, the interest coverage ratio improved significantly to 4.38, signaling that the company's ability to cover its interest expenses increased. This trend continued in Q2 2023 and Q1 2023, where the ratios were 9.03 and 12.83, respectively, reflecting a notable strengthening of the company's financial position.

Comparing these figures to the ratios from the previous year, there has been a general upward trend in interest coverage, with Q4 2022 starting at 13.33 and showing a gradual decrease to 6.16 in Q1 2022.

Overall, the interest coverage ratios for Comstock Resources, Inc. exhibit variability but generally indicate an improvement in the company's ability to meet its interest obligations, especially in the recent quarters. However, the lower ratio in Q4 2023 may warrant further monitoring to ensure the company's financial health and debt servicing capacity.