Comstock Resources, Inc. (CRK) vs Northern Oil and Gas, Inc. (NOG)

Comstock Resources, Inc. and Northern Oil and Gas, Inc. are both Oil & Gas E&P companies. Comstock Resources, Inc. is the larger, with a market value of $4.0B against $2.7B — 1.4× the size. Northern Oil and Gas, Inc. has negative trailing earnings, so its P/E is not meaningful; Comstock Resources, Inc. trades at 7.8×. Comstock Resources, Inc. grew revenue faster over the last twelve months: 31.6% against −25.6%. Comstock Resources, Inc. has the higher net margin (23.3% vs −25.4%) and the higher return on invested capital (6.31% vs −6.22%). Across the 19 metrics below, Comstock Resources, Inc. leads on 14 and Northern Oil and Gas, Inc. on 5.

Valuation

Metric CRK NOG Oil & Gas E&P median
P/E 7.83 n/m 11.01
P/S 1.88 1.50 1.98
P/B 1.29 1.44 1.30
Price to free cash flow n/m n/m 10.68
EV/EBITDA 5.66 16.45 5.09
EV/Sales 3.29 2.91 2.63
Earnings yield 12.78% (18.89%) 5.78%
Free cash flow yield (7.05%) (10.23%) 4.91%

Profitability

Metric CRK NOG Oil & Gas E&P median
Gross margin 99.00% 66.68% 80.41%
Operating margin 28.82% (24.10%) 21.39%
Net margin 23.34% (25.35%) 14.17%
Free cash flow margin (13.22%) (15.34%) 8.18%
Return on equity 18.16% (22.05%) 10.05%
Return on assets 7.15% (8.43%) 5.81%
Return on invested capital 6.31% (6.22%) 6.32%

Growth

Metric CRK NOG Oil & Gas E&P median
Revenue growth (TTM) 31.59% (25.62%) 9.94%
EPS growth (last fiscal year) 288.16% (92.41%) (10.50%)
Revenue growth, 5-year CAGR 20.94% 35.00% 18.67%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CRK NOG Oil & Gas E&P median
Debt to equity 0.98 1.37 0.28
Current ratio 0.48 0.80 0.96
Net debt to EBITDA 2.14 2.07 0.89

Dividend

Metric CRK NOG Oil & Gas E&P median
Dividend yield — 6.63% 3.29%
Payout ratio — — 0.35

Size

Metric CRK NOG Oil & Gas E&P median
Market cap 3.96b 2.74b 1.04b

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