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Comstock Resources, Inc.

CRK Energy Oil & Gas E&P

Comstock Resources, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 77.0% from fiscal 2024.

Revenue
−14.6%
EPS
−80.0%
Free cash flow
−57.0%
Total debt
+7.39%

Quarter to September 2026, against a year earlier

13.31 0.07 −0.52%
Market cap
$3.9B
P/E
9.1×
Fwd P/E
27.6×
Dividend yield
—
F-score
7/9
Altman Z
1.78
Beneish M
−2.18
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — — — — — — —
Insider Ownership 73.09%

Capital & Financial Ratios $m

Size
Market Cap 3,910.00
Revenue ttm 2,112.32
Net income ttm 439.63
Free cash flow ttm (386.69)
Net debt Q 3,338.34
Valuation
P/E 9.05
Forward P/E 27.60
Price / sales 1.84
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.22
Financial health
Current ratio Q 0.60 (below 1: weak)
Debt / equity Q 1.05
Interest coverage Q 0.39
Growth
Revenue growth Q −14.56% (below 0%: shrinking)
Operating income growth Q −54.32% (below 0%: shrinking)
EPS, this year −41.69% (below 0%: weak)
EPS, next year A +26.93% (at or above 15%: strong)
Revenue, next year A −17.08% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +18.72% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.4×, against a ten-year median of 4.2×; over the ten years it ranged from 1.3× in 2023 to 6.8× in 2025.
P/E against its own 10 years 52.55%
10-year low 10-year high
P/S against its own 10 years 71.80%
10-year low 10-year high
P/B against its own 10 years 35.36%
10-year low 10-year high
EV/Sales against its own 10 years 25.85%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2022–25
−100.0%/yr
  1. 0.13 ’22
  2. 0.50 ’23 +300
  3. 0.00 ’24 −100
  4. 0.00 ’25
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 17 7 24 19
Receivables 231 175 243 —
Inventory — — — —
Other 213 102 94 178
461 284 361 420
2023 2024 2025 Q'26
Payables 523 422 502 548
ST’ Debt — — — —
Other — 9 28 —
681 613 730 702

Compound Annual Growth %

10y 5y 3y
Sales 24.29% 20.94% (15.10%)
Cash Flow 40.47% 9.34% (19.09%)
Earnings 0.00% 0.00% (29.41%)
Book Value 0.00% 18.52% 9.15%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.03 Actual 0.02

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.11 0.16 Beat by 0.05
Q1 FY26 0.23 0.15 Miss by 0.08
Q2 FY26 0.02 0.03 Beat by 0.01
Q3 FY26 0.03 0.02 Miss by 0.01
Q4 FY26 0.08 — Reports 10 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.38 0.03 0.08 — —
’25 (0.40) 0.44 0.40 0.97 1.43
’24 (0.05) (0.43) (0.09) (0.19) (0.76)
’23 0.49 (0.17) 0.05 0.39 0.76
’22 (0.50) 1.36 1.28 1.87 4.11
’21 (0.60) (0.80) (1.26) 1.30 (1.12)
’20 0.15 (0.29) (0.57) 0.30 (0.39)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 587 353 384 — —
’25 513 470 450 787 2,220
’24 336 247 304 367 1,254
’23 490 288 377 411 1,565
’22 525 946 1,190 967 3,628
’21 340 344 511 655 1,851
’20 226 180 178 275 858
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 272 170 180 — —
’25 175 348 153 224 900
’24 172 84 98 267 620
’23 386 332 71 228 1,017
’22 286 411 534 468 1,698
’21 193 192 233 242 861
’20 150 116 124 186 576
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (142) (245) (272) — —
’25 (123) 3 (173) 272 (21)
’24 (180) (153) (130) (13) (476)
’23 16 0 (274) (108) (367)
’22 72 109 281 173 635
’21 28 19 64 198 308
’20 7 26 25 9 66
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 176 255 390 769 858 1,851 3,628 1,565 1,254 2,220 2,112 +32.6% 1,841 1,725 1,958 (4.1%)
Gross margin, % 52.11 100.00 100.00 99.97 100.00 100.00 99.77 99.89 100.00 99.55 0.00 +47.4 pt
EBT (128) (129) (9) 125 (62) (230) 1,402 247 (368) 509 534 n/m
EBT margin, % (72.83) (50.66) (2.21) 16.22 (7.18) (12.44) 38.64 15.78 (29.32) 22.91 25.30 +95.7 pt
Net income (135) (111) (29) 97 (52) (242) 1,141 212 (219) 420 440 n/m
Per share, $
Per share, $ Revenue 14.98 17.44 3.23 5.38 3.99 7.99 15.37 5.65 4.37 7.64 7.24 (7.2%)
Earnings (11.52) (7.61) (0.24) 0.52 (0.39) (1.12) 4.75 0.76 (0.76) 1.43 1.47 n/m
Cash flow (2.02) 11.92 1.56 3.16 2.68 3.72 7.20 3.67 2.16 3.09 2.90 n/m
Capex (2.52) (12.22) (1.68) (3.41) (2.37) (2.39) (4.51) (5.00) (3.82) (3.17) (4.23) +2.6%
Free cash flow (4.54) (0.30) (0.12) (0.25) 0.31 1.33 2.69 (1.33) (1.66) (0.07) (1.33) (37.0%)
Book value (23.13) (25.22) 4.72 8.01 5.89 4.37 9.65 8.61 8.13 10.19 10.95 n/m
Shares, m 12 15 121 143 215 232 236 277 287 291 291 +42.9%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 15.24 0.00 0.00 2.68 11.76 0.00 16.21 9.05 4.6
P/S 0.64 0.52 1.40 1.53 1.10 1.01 0.81 1.58 4.17 3.04 1.84 1.6
P/B 0.00 0.00 0.96 1.03 0.74 1.85 1.30 1.04 2.24 2.27 1.22 1.1
EV/Sales 6.21 4.63 4.57 4.78 4.01 2.42 1.40 3.27 6.53 4.30 3.43 4.2
EV/FCF (20.47) (272.23) (123.26) (104.69) 51.92 14.51 7.98 (13.93) (17.21) (458.56) (18.71) (93.6)
Cash, $m
Cash, $m Operating cash flow (24) 175 188 451 576 861 1,698 1,017 620 900 847 n/m
Capex (30) (179) (203) (486) (509) (553) (1,064) (1,384) (1,096) (920) (1,233) +46.5%
Free cash flow (53) (4) (14) (35) 66 308 635 (367) (476) (21) (387) (9.9%)
Balance, $m
Balance, $m Working capital (2) 134 (47) (103) (242) (315) (111) (220) (329) (369) (282) +83.9%
Net debt 979 1,049 1,221 2,482 2,487 2,585 2,098 2,624 2,945 2,785 3,338 +12.3%
Shareholders’ equity (271) (369) 570 1,143 1,267 1,013 2,278 2,383 2,334 2,963 3,196 n/m
Returns, %
Returns, % ROA (12.96) (12.24) (1.84) 2.17 (1.80) (5.58) 21.71 3.53 (3.63) 5.91 5.71 +18.9 pt
ROIC (16.24) (0.02) 4.43 4.74 2.71 15.65 32.58 2.83 (2.00) 7.02 5.74 +23.3 pt
ROE 61.07 34.78 (28.59) 8.66 (6.92) (22.74) 68.36 9.06 (9.74) 14.94 14.43 (46.1) pt
People
People Employees 117 113 113 207 204 205 244 251 256 252 — +8.9%
Revenue/emp, $m 1.50 2.26 3.45 3.71 4.21 9.03 14.87 6.24 4.90 8.81 — +21.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Comstock Resources, Inc. vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MUR Murphy Oil Corporation $5.2B 11.2× 10.6× +16.64% (above 0%: growing) n/m −59.09% (below 0%: shrinking) 100.00% 30.00% Compare
CNX CNX Resources Corporation. $5.0B 5.5× 7.4× −0.66% (below 0%: shrinking) −22.07% (below 0%: shrinking) −42.35% (below 0%: shrinking) 82.78% 44.70% Compare
LB LandBridge Company LLC $4.8B 42.4× 57.6× +39.46% (above 0%: growing) +41.94% (above 0%: growing) +44.89% (above 0%: growing) 0.00% 68.06% Compare
CRGY Crescent Energy Company $4.7B 62.7× 10.5× +55.92% (above 0%: growing) n/m +41.37% (above 0%: growing) 100.00% 35.43% Compare
CRC California Resources Corporation $4.0B — (loss-making) 106× −50.76% (below 0%: shrinking) n/m −24.47% (below 0%: shrinking) (0.24%) (96.67%) Compare
CRK Comstock Resources, Inc. $3.9B 9.1× 27.6× −14.56% (below 0%: shrinking) −80.00% (below 0%: shrinking) −56.99% (below 0%: shrinking) 0.00% 5.97%
BSM Black Stone Minerals, L.P. $3.1B 13.6× 15.4× −24.72% (below 0%: shrinking) −38.45% (below 0%: shrinking) −4.44% (below 0%: shrinking) 100.00% 56.37% Compare
GPOR Gulfport Energy Corporation $2.7B 6.0× 6.6× −4.55% (below 0%: shrinking) +21.83% (above 0%: growing) −226.88% (below 0%: shrinking) 94.50% 38.83% Compare
TALO Talos Energy Inc. $2.5B — (loss-making) — (loss-making) +32.43% (above 0%: growing) n/m +471.14% (above 0%: growing) 100.00% 26.33% Compare
Median of peers $4.4B 12.4× 10.6× +7.99% −0.12% −14.45% 97.25% 37.13%

All 74 Oil & Gas E&P stocks →

Pay and ownership Proxy statement filed 22 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 21.93m 34.51m 559.35
2024 12.54m 32.33m 233.45
2023 9.92m 7.13m 113.40
2022 11.86m 14.73m 167.72
2021 8.96m 9.39m 98.30

Ownership

Directors and executive officers, together 2.30%
Arkoma Drilling, L.P. Williston Drilling, L.P. JWJ BES, LLC One Cowboys Way, Frisco, Texas 70.90%
Key Group Long Term Investments LP 5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Comstock Resources, Inc. (CRK) Latest News

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31 Jul

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CRK metrics, ten years each

stockrow.com/CRK · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com