California Resources Corporation (CRC) vs Comstock Resources, Inc. (CRK)

California Resources Corporation and Comstock Resources, Inc. are both Oil & Gas E&P companies. California Resources Corporation is the larger, with a market value of $4.7B against $4.0B — 1.2× the size. California Resources Corporation has negative trailing earnings, so its P/E is not meaningful; Comstock Resources, Inc. trades at 7.3×. Comstock Resources, Inc. grew revenue faster over the last twelve months: 31.6% against −22.5%. Comstock Resources, Inc. has the higher net margin (23.3% vs −3.79%) and the higher return on invested capital (6.31% vs −0.74%). Both pay a dividend; Comstock Resources, Inc. yields more (4.44% vs 2.13%). Across the 21 metrics below, Comstock Resources, Inc. leads on 14 and California Resources Corporation on 7.

Valuation

Metric CRC CRK Oil & Gas E&P median
P/E n/m 7.33 10.57
P/S 1.46 1.76 1.80
P/B 1.37 1.21 1.27
Price to free cash flow 12.11 n/m 9.99
EV/EBITDA 13.04 5.49 5.08
EV/Sales 1.88 3.18 2.39
Earnings yield (2.53%) 13.64% 6.06%
Free cash flow yield 8.26% (7.53%) 6.17%

Profitability

Metric CRC CRK Oil & Gas E&P median
Gross margin 52.43% 99.00% 80.41%
Operating margin (1.72%) 28.82% 21.39%
Net margin (3.79%) 23.34% 14.17%
Free cash flow margin 12.05% (13.22%) 9.71%
Return on equity (3.55%) 18.16% 10.05%
Return on assets (1.75%) 7.15% 5.81%
Return on invested capital (0.74%) 6.31% 6.32%

Growth

Metric CRC CRK Oil & Gas E&P median
Revenue growth (TTM) (22.45%) 31.59% 9.94%
EPS growth (last fiscal year) (10.17%) 288.16% —
Revenue growth, 5-year CAGR 18.67% 20.94% 18.67%
Net income growth, 5-year CAGR (27.12%) 0.00% 0.00%

Health

Metric CRC CRK Oil & Gas E&P median
Debt to equity 0.38 0.98 0.28
Current ratio 0.66 0.48 0.96
Net debt to EBITDA 1.04 2.14 0.91

Dividend

Metric CRC CRK Oil & Gas E&P median
Dividend yield 2.13% 4.44% 4.93%
Payout ratio 0.08 0.11 0.07

Size

Metric CRC CRK Oil & Gas E&P median
Market cap 4.66b 3.98b 923.59m

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