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Comstock Resources Inc (CRK) stock

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NYSE: CRK NYSE Oil & Gas Exploration & Production Next results ~November 4, 2026

C Fundamentals grade

Comstock Resources Inc is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$31

Valuation models combined (2)

Base case. Range ~$30–$32. Weighted average of 2 models (residual income, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Comstock Resources Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds172 adding, 129 cuttingOf 41 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Comstock Resources files

Where Comstock Resources stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.18bn, up 31.6% on a year earlier, slower than the 60.3% growth a quarter earlier. Free-cash-flow margin fell to -33.8% from -16.0% a year earlier. Operating margin widened to 28.8% from 9.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 7 financial-health checks. Our valuation models combined value is $29.95 a share, against a share price of $14.34.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Comstock Resources Inc's trailing-twelve-month revenue grew 31.6% year on year, with a free-cash-flow margin of -33.8%. Where it stands out: days sales outstanding of 22 days ranks 5 of 42 oil & gas exploration & production companies we cover. Where it lags: free-cash-flow margin of -33.8% ranks 48 of 51 oil & gas exploration & production companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 202% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 31.6% over the last 12 months, against a median of 10.6% for oil & gas exploration & production companies we cover.
  • High operating margin. 28.8% of revenue is left as operating profit, against a median of 19.9% for oil & gas exploration & production companies we cover.
  • Margins widening. Operating margin is up 19.6 points on a year ago.

Things to watch

  • Growth slowing. The growth rate is 28.7 points lower than a quarter earlier.
  • Burning cash. Free cash flow was -33.8% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of -0.5 against the S&P 500.
  • Weak cash conversion. Free cash flow was -145% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 41.2% ranks 40 of 43 oil & gas exploration & production companies we cover (median 17.6%).
  • Heavily shorted. 32.4% of the shares available to trade are sold short (10.0 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
$0.03 against an average estimate of $0.01: beat by 201.5%
Revenue
$353m, down 24.9% on a year earlier
Share reaction
+2.6% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.04

Comstock Resources' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week-6.1%
  • 1 month+9.4%
  • This year-39.3%
  • 1 year-27.3%
  • 5 years+56.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.2B
Operating margin
28.8%
Net margin
23.3%
EPS (TTM, diluted)
$1.73

Growth

Revenue growth
+31.6%
Change in growth rate
−28.7 pts
Share count change
+0.9%

Cash

Free cash flow (TTM)
-$735M
FCF margin
-33.8%
Stock pay % of revenue
1.2%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Comstock Resources Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Comstock Resources Inc as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.6 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. ~$0.8 Left out: out of range vs price (0.06x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.4 ~$2.7–$5.1 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$30 ~$22–$44 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$32 ~$27–$41 Included
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$31 ~$30–$32 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Comstock Resources Inc with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20172019202020212022202320242025Now
Share price$8.02$7.80$4.14$7.67$13.09$8.85$18.22$23.18$14.06
Market value$117m$1.5bn$891m$1.8bn$3.6bn$2.4bn$5.2bn$6.8bn$4.1bn
+ Net debt (− = net cash)$1.0bn$2.5bn$2.5bn$2.7bn$2.1bn$2.7bn$3.0bn$2.8bn$3.1bn
Enterprise value$1.2bn$3.9bn$3.4bn$4.4bn$5.8bn$5.1bn$8.2bn$9.6bn$7.2bn
Multiples
Price / sales 0.5x1.9x1.0x1.0x1.0x1.6x4.2x3.1x1.9x
Price / earnings —15.1x——3.2x11.6x—17.2x8.1x
Price / free cash flow ——13.5x10.5x5.8x————
EV / EBITDA 9.5x7.2x5.8x3.2x2.1x6.1x13.1x7.5x5.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

25 /100

Weak moat

How hard Comstock Resources's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.8% of total assets over 10 years.

  • Durability 8 / 20

    Operating margin has been a median 24.6%; its worst year was -270.1%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 2 of 8 years, at a median -24.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 1876.8% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $430m and EPS of $0.04 (range −$0.01 to $0.15) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.32 −41% $1.8bn −17%
Next $0.46 +45% $1.7bn −6%

Next year's EPS estimate has moved −57.2% in 90 days, across 12 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −33.6% on 90 days ago. In the last 30 days, 2 analysts raised Comstock Resources Inc's forecast and 3 cut it.

Consensus EPS forecast Comstock Resources Inc, last 90 days
$0.00 $0.50 $1.00 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.48 Current fiscal year, 60 days ago: $0.41 Current fiscal year, 30 days ago: $0.37 Current fiscal year, 7 days ago: $0.32 Current fiscal year, Now: $0.32 $0.32 Next fiscal year, 90 days ago: $1.08 Next fiscal year, 60 days ago: $0.87 Next fiscal year, 30 days ago: $0.64 Next fiscal year, 7 days ago: $0.46 Next fiscal year, Now: $0.46 $0.46

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.48$1.08
60 days ago $0.41$0.87
30 days ago $0.37$0.64
7 days ago $0.32$0.46
Now $0.32$0.46

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.01 $0.03 +201.5%
Mar 2026 $0.23 $0.15 −34.4%
Dec 2025 $0.12 $0.16 +38.1%
Sept 2025 $0.05 $0.09 +64.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026

No numeric guidance in Comstock Resources Inc's latest earnings release (filed July 29, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

16 analysts, Nov 2026
Buy16%
Hold1275%
Sell319%

Monthly trend

  1. Nov 202612216
  2. Oct 202612215
  3. Sep 2026110213

Counts of recommendations published by analysts covering Comstock Resources Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
32.4%
of tradable shares
Days to cover
10.03
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
31%
of shares
Held by insiders
73.3%
of shares
Employees
252
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −25.0%

$18.75 on October 31, 2025 to $14.06

ThenNowEffect
Revenue (last 12 months) $1.7bn $2.2bn +31.6%
P/S multiple 3.3x 1.9x −42.5%
Share count 291m 294m −0.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +7.0%

$13.14 on November 3, 2023 to $14.06

ThenNowEffect
Revenue (last 12 months) $2.9bn $2.2bn −24.7%
Net margin 32.8% 23.3% −28.9%
P/E multiple 4.0x 8.1x +103.3%
Share count 288m 294m −1.8%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CRK+85%+71%−32%+106%+27%−39%
Industry peers (median)+88%+54%−8%+1%−15%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CRK42%58%42%75%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CRK−32%−48%−36%−33%−51%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 80% from November 4, 2015 to May 24, 2016. Getting back needed a 404% gain, reached on April 8, 2022, 2145 days after the low.

Price behaviour

52-week range
$12.32 – $27.37
From 52-week high
−48.6%
vs 50-day average
+0.4%
vs 200-day average
−12.8%
Volatility (1 year)
54%
Beta vs S&P 500
-0.45

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±6.5%
After a week
7 up, 5 down
typical move ±10.6%
After a month
9 up, 3 down
typical move ±17.5%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +2.6% +0.1% +4.7% +18.1%
May 5, 2026 −15.6% +2.2% −17.2% −22.2%
February 11, 2026 −6.1% −1.6% −2.8% +1.9%
November 3, 2025 +6.9% −1.0% +26.0% +42.8%
July 30, 2025 −15.0% −0.5% −22.7% −22.3%
April 30, 2025 −0.2% +0.7% +18.4% +23.2%
February 18, 2025 +12.1% +0.5% 0.0% +7.6%
October 30, 2024 −3.3% −2.3% +7.9% +30.3%
July 30, 2024 −6.3% +1.1% −16.5% +0.9%
May 1, 2024 −2.0% +0.6% +0.7% +16.4%
February 13, 2024 −5.6% −0.5% +8.0% +6.4%
October 30, 2023 +2.9% +1.8% +1.9% −17.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Comstock Resources Inc in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Comstock Resources Inc
$1B $1.5B $2B $2.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.1B Revenue (TTM), FY23 Q4: $1.6B Revenue (TTM), FY24 Q1: $1.4B Revenue (TTM), FY24 Q2: $1.4B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.4B Revenue (TTM), FY25 Q2: $1.7B Revenue (TTM), FY25 Q3: $1.8B Revenue (TTM), FY25 Q4: $2.2B Revenue (TTM), FY26 Q1: $2.3B Revenue (TTM), FY26 Q2: $2.2B $2.2B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.1B
FY23 Q4 $1.6B
FY24 Q1 $1.4B
FY24 Q2 $1.4B
FY24 Q3 $1.3B
FY24 Q4 $1.3B
FY25 Q1 $1.4B
FY25 Q2 $1.7B
FY25 Q3 $1.8B
FY25 Q4 $2.2B
FY26 Q1 $2.3B
FY26 Q2 $2.2B
Revenue growth, TTM YoY Comstock Resources Inc
-100% -50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -37.4% Revenue growth, TTM YoY, FY23 Q4: -56.3% Revenue growth, TTM YoY, FY24 Q1: -60.2% Revenue growth, TTM YoY, FY24 Q2: -52.6% Revenue growth, TTM YoY, FY24 Q3: -37.5% Revenue growth, TTM YoY, FY24 Q4: -19.9% Revenue growth, TTM YoY, FY25 Q1: 1.4% Revenue growth, TTM YoY, FY25 Q2: 20.8% Revenue growth, TTM YoY, FY25 Q3: 38.7% Revenue growth, TTM YoY, FY25 Q4: 77.0% Revenue growth, TTM YoY, FY26 Q1: 60.3% Revenue growth, TTM YoY, FY26 Q2: 31.6% 31.6%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -37.4%
FY23 Q4 -56.3%
FY24 Q1 -60.2%
FY24 Q2 -52.6%
FY24 Q3 -37.5%
FY24 Q4 -19.9%
FY25 Q1 1.4%
FY25 Q2 20.8%
FY25 Q3 38.7%
FY25 Q4 77.0%
FY26 Q1 60.3%
FY26 Q2 31.6%
Operating margin (TTM) Comstock Resources Inc
-20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 33.5% Operating margin (TTM), FY23 Q4: 14.5% Operating margin (TTM), FY24 Q1: 4.8% Operating margin (TTM), FY24 Q2: -0.5% Operating margin (TTM), FY24 Q3: -8.9% Operating margin (TTM), FY24 Q4: -13.4% Operating margin (TTM), FY25 Q1: -2.1% Operating margin (TTM), FY25 Q2: 9.2% Operating margin (TTM), FY25 Q3: 14.7% Operating margin (TTM), FY25 Q4: 29.1% Operating margin (TTM), FY26 Q1: 30.3% Operating margin (TTM), FY26 Q2: 28.8% 28.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 33.5%
FY23 Q4 14.5%
FY24 Q1 4.8%
FY24 Q2 -0.5%
FY24 Q3 -8.9%
FY24 Q4 -13.4%
FY25 Q1 -2.1%
FY25 Q2 9.2%
FY25 Q3 14.7%
FY25 Q4 29.1%
FY26 Q1 30.3%
FY26 Q2 28.8%
FCF margin (TTM) Comstock Resources Inc
-60% -40% -20% 0% 20% FY22 Q2 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY22 Q2: 11.5% FCF margin (TTM), FY23 Q4: -26.1% FCF margin (TTM), FY24 Q1: -42.8% FCF margin (TTM), FY24 Q2: -52.2% FCF margin (TTM), FY24 Q3: -44.1% FCF margin (TTM), FY24 Q4: -38.0% FCF margin (TTM), FY25 Q1: -29.4% FCF margin (TTM), FY25 Q2: -16.0% FCF margin (TTM), FY25 Q3: -17.8% FCF margin (TTM), FY25 Q4: -20.3% FCF margin (TTM), FY26 Q1: -20.5% FCF margin (TTM), FY26 Q2: -33.8% -33.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY22 Q2 11.5%
FY23 Q4 -26.1%
FY24 Q1 -42.8%
FY24 Q2 -52.2%
FY24 Q3 -44.1%
FY24 Q4 -38.0%
FY25 Q1 -29.4%
FY25 Q2 -16.0%
FY25 Q3 -17.8%
FY25 Q4 -20.3%
FY26 Q1 -20.5%
FY26 Q2 -33.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Comstock Resources took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2.2B
  2. Selling, general and admin $48.7M · 2.2%
  3. Other operating costs $1.5B · 68.7%
  4. Operating income $646M · 29.1%
  5. Income tax $88.5M · 4.0%
  6. Interest and other $162M · 7.3%
  7. Net income $396M · 17.8%

Shares of revenue. Source: Comstock Resources's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2017 Dec 2017 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 349 434 409 420 555 255 769 858 1,851 3,628 1,565 1,254 2,220 2,178
EBITDA 202 249 199 265 346 123 551 580 1,370 2,771 835 627 1,287 1,252
Operating income −12 −41 −145 −72 −32 −0 275 163 901 2,281 227 −169 646 628
Net income −20 −33 −100 41 −57 −111 97 −52 −259 1,125 211 −230 396 508
Diluted EPS −$2.15 −$3.65 −$10.80 $4.25 −$6.20 −$7.61 $0.52 −$0.39 −$1.12 $4.11 $0.76 −$0.76 $1.43 $1.73
Growth (year on year)
Revenue — +24.4% −5.8% +2.7% +32.1% −54.0% +201.1% +11.6% +115.7% +96.1% −56.9% −19.9% +77.0% +31.6%
EBITDA — +23.6% −20.1% +32.9% +30.7% −64.4% +346.9% +5.2% +136.2% +102.2% −69.9% −24.9% +105.3% +40.8%
Operating income — — — — — — — −40.7% +452.5% +153.3% −90.1% −174.4% — +312.0%
Net income — — — — −239.2% — — −154.1% — — −81.2% −208.8% — —
Diluted EPS — — — — −245.9% — — −175.0% — — −81.5% −200.0% — —
Margins
EBITDA margin 57.8% 57.4% 48.7% 63.0% 62.4% 48.3% 71.7% 67.6% 74.0% 76.4% 53.3% 50.0% 58.0% 57.5%
Operating margin −3.4% −9.5% −35.4% −17.2% −5.8% −0.1% 35.8% 19.0% 48.7% 62.9% 14.5% −13.4% 29.1% 28.8%
Net margin −5.6% −7.7% −24.5% 9.8% −10.3% −43.6% 12.6% −6.1% −14.0% 31.0% 13.5% −18.3% 17.8% 23.3%
Free-cash-flow margin −64.7% −86.5% −30.0% −38.3% −42.1% −2.3% −4.6% 7.7% 9.2% 17.4% −26.1% −38.0% −20.3% −33.8%
Cash flow
Cash from operations 312 275 262 261 401 175 451 576 861 1,698 1,017 620 900 819
Capital spending 537 651 385 422 635 180 487 510 691 1,068 1,425 1,097 1,349 1,555
Free cash flow −226 −376 −123 −161 −234 −6 −36 66 170 631 −408 −477 −450 −735
Stock-based pay 17 15 14 13 11 6 4 6 7 7 10 15 21 27
Free cash flow after stock pay −243 −391 −137 −174 −245 −12 −40 60 163 624 −418 −492 −471 −762
Balance sheet
Cash 2 8 4 3 2 61 19 30 31 55 17 7 24 45
Total debt 513 1,197 1,324 799 1,070 1,111 2,500 2,517 2,694 2,189 2,669 3,004 2,849 3,099
Net debt (negative = net cash) 512 1,188 1,320 796 1,068 1,049 2,482 2,487 2,664 2,134 2,652 2,997 2,825 3,054
Diluted shares 9m 9m 9m 9m 9m 15m 187m 215m 232m 277m 277m 287m 294m 294m
Returned to shareholders
Dividends — — — 18 24 — — 0 0 35 139 0 0 —
Buybacks — — — 9 8 — — — — — — — — —
Total returned — — — 27 32 — — 0 0 35 139 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 7 checks passed · June 30, 2026
What it owns · $7.5bn
Short-term assets $339mLonger-term assets $7.2bn
What it owes, and who funded it · $6.9bn
Short-term liabilities $712mLonger-term liabilities $3.6bnShareholders' equity $2.6bn
  • Short-term assets cover short-term liabilities $339m of assets due within a year against $712m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $339m short-term assets against $3.6bn of longer-dated liabilities.
  • More cash than debt $45m of cash against $3.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 120% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 258% to 120% over five years.
  • A year's operating cash flow covers at least 20% of debt $819m of operating cash flow against $3.1bn of debt.
  • Operating profit covers interest at least five times over Operating income of $628m against $221m of interest.

From Comstock Resources Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+0.9%
year over year
Days sales outstanding
22 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated CRK TALO NOG CNX KOS MUR Median
Revenue, last 12 months $2.2bn $2.0bn $1.9bn $2.6bn $1.7bn $3.0bn $1.4bn
Revenue growth, last 12 months 31.6% 2.4% −25.6% 47.0% 20.9% 7.8% 10.6%
Revenue growth, 3-year average −9.0% 12.0% −4.8% −14.2% −0.4% −8.6% 1.4%
Revenue growth, latest quarter −24.9% 56.5% 5.4% −0.7% 31.9% 33.5% 31.5%
Gross margin — — 74.2% — — 100.0% 75.2%
Operating margin 28.8% −12.7% −24.1% — — 18.6% 21.1%
Operating margin, 3-year average 12.5% −1.9% 17.4% — — 21.2% 16.5%
Net margin 23.3% −20.5% −25.4% 35.2% −27.4% 9.8% 10.1%
Cash from operations / revenue 37.6% 39.9% 72.0% 42.7% 28.6% 52.1% 42.4%
Free-cash-flow margin −33.8% −8.8% 75.7% 18.6% 28.6% 50.4% 19.3%
Free-cash-flow margin, 3-year average −34.0% −5.0% 66.7% 19.7% 28.0% 52.8% 19.1%
Stock pay / revenue 1.2% 1.1% 0.8% 0.9% 1.5% 1.7% 1.5%
Change in share count 0.9% −5.1% 0.9% 1.9% 15.1% −1.2% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 31.6% 10.6% 9 of 57
Change in growth rate Growth -28.7pp +4.9pp 53 of 57
Operating margin Profitability 28.8% 19.9% 14 of 42
Net margin Profitability 23.3% 10.1% 15 of 57
Free-cash-flow margin Cash generation -33.8% 23.2% 48 of 51
Stock pay as % of revenue Cash generation 1.2% 1.2% 24 of 47
Long-term debt as % of assets Balance sheet 41.2% 17.6% 40 of 43
Change in share count Balance sheet 0.9% 0.4% 27 of 48
Days sales outstanding Balance sheet 22 days 41 days 5 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Natural Gas and Oil Sales $1.4B 64.3% ▲ 36.3%
Natural Gas Production $1.4B 99.8% ▲ 36.6%
Oil and Condensate $2.3M 0.2% ▼ 36.3%
Gas Services $500M 22.5% ▲ 142.7%
Gain On Sale of Assets $292M 13.1% ▲ 33264.3%

From Comstock Resources Inc's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.1B
Institutions reporting
311
Shares held vs prior quarter
▲ 6.5%
Positions opened / closed
60 / 40

Top buyers and sellers, Q2 2026: 172 institutions bought and 129 sold ; the biggest buyer was Sourcerock Group LLC (+1.2M shares) and the biggest seller Point72 Asset Management, L.P (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $177M 11.8M 16.1% ▲ 1.4%
Dimensional Fund Advisors LP $174M 11.7M 15.9% ▲ 3.7%
State Street Corp $79.6M 5.3M 7.3% ▲ 2.7%
Vanguard Portfolio Management LLC $71.3M 4.8M 6.5% ▲ 1.2%
Vanguard Capital Management LLC $50.2M 3.4M 4.6% ▲ 0.8%
Morgan Stanley $39.4M 2.6M 3.6% ▲ 68.2%
American Century Companies Inc $37M 2.5M 3.4% ▲ 4.7%
Geode Capital Management, LLC $28.7M 1.9M 2.6% ▲ 4.1%
Goldman Sachs Group Inc $22.7M 1.5M 2.1% ▲ 27.1%
UBS Group AG $22M 1.5M 2.0% ▲ 16.0%
Charles Schwab Investment Management Inc $17.4M 1.2M 1.6% ▲ 6.5%
Sourcerock Group LLC $17.3M 1.2M 1.6% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Comstock Resources Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1M 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $1M net selling
Insider Date Trade Shares Price Value
Mcgough Patrick Vice President of Operations March 5, 2026 Sell 48,915 $21.21 $1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • May 5, 2026
  • February 11, 2026
  • November 3, 2025
  • July 30, 2025
  • April 30, 2025

Recent SEC filings

Data status

When each part of this page on Comstock Resources Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Comstock Resources Inc in brief

What does Comstock Resources Inc do?
Comstock Resources Inc is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is Comstock Resources Inc's stock ticker?
Comstock Resources Inc trades under the ticker CRK on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Comstock Resources Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Comstock Resources Inc reported revenue of $2.2B, 31.6% higher than a year earlier, according to its SEC filings.
What is Comstock Resources Inc's free cash flow?
Comstock Resources Inc's free-cash-flow margin is -33.8% of revenue over the trailing twelve months, ranking 48 of the 51 oil & gas exploration & production companies we cover.
Who are Comstock Resources Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Comstock Resources Inc's market cap?
On November 2, 2026, Comstock Resources Inc's market capitalisation was about $4.1B, with a price-to-earnings ratio of 8.1 and net debt of $3.1B. Market figures come from third-party market data and may be delayed.
How much debt does Comstock Resources Inc have?
Comstock Resources Inc's debt-to-equity ratio is 120.1%, from its latest balance sheet (258.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Comstock Resources Inc's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to Comstock Resources Inc are Talos Energy Inc., Northern OIL & GAS, Inc., CNX Resources Corp, Kosmos Energy Ltd. and Murphy OIL Corp. The side-by-side comparison below sets their revenue, margins and growth against Comstock Resources Inc's.
Are insiders buying or selling Comstock Resources Inc stock?
Over the last 12 months, Comstock Resources Inc's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Comstock Resources Inc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Comstock Resources Inc announces its own schedule.