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 $3.9B against $2.4B — 1.7× the size. Northern Oil and Gas, Inc. has negative trailing earnings, so its P/E is not meaningful; Comstock Resources, Inc. trades at 9.1×. Comstock Resources, Inc. grew revenue faster over the last twelve months: 17.3% against −25.6%. Comstock Resources, Inc. has the higher net margin (19.9% vs −25.4%) and the higher return on invested capital (5.74% vs −6.22%). Across the 19 metrics below, Comstock Resources, Inc. leads on 11 and Northern Oil and Gas, Inc. on 8.

Valuation

Metric CRK NOG Oil & Gas E&P median
P/E 9.05 n/m 9.67
P/S 1.84 1.24 1.76
P/B 1.22 1.19 1.19
Price to free cash flow n/m n/m 8.37
EV/EBITDA 5.72 14.96 4.59
EV/Sales 3.43 2.65 2.27
Earnings yield 11.04% (22.92%) 7.55%
Free cash flow yield (9.96%) (12.41%) 3.98%

Profitability

Metric CRK NOG Oil & Gas E&P median
Gross margin 0.00% 66.68% 79.54%
Operating margin 28.43% (24.10%) 24.01%
Net margin 19.86% (25.35%) 14.11%
Free cash flow margin (18.31%) (15.34%) 7.72%
Return on equity 14.43% (22.05%) 8.99%
Return on assets 5.71% (8.43%) 4.63%
Return on invested capital 5.74% (6.22%) 6.33%

Growth

Metric CRK NOG Oil & Gas E&P median
Revenue growth (TTM) 17.33% (25.62%) 13.60%
EPS growth (last fiscal year) 288.16% (92.41%) (10.17%)
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 1.05 1.37 0.29
Current ratio 0.60 0.80 0.92
Net debt to EBITDA 2.14 2.07 0.93

Dividend

Metric CRK NOG Oil & Gas E&P median
Dividend yield — 8.04% 3.76%
Payout ratio — — 0.33

Size

Metric CRK NOG Oil & Gas E&P median
Market cap 3.91b 2.36b 953.29m

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