公司概述
Comstock Resources, Inc. operates as an independent energy entity focused on the full lifecycle of hydrocarbon assets, specifically engaging in the acquisition, exploration, development, and production of natural gas and oil properties across the United States. The company functions within the broader Energy sector, with a specific operational focus on the Oil & Gas E&P industry, which entails managing the extraction of resources from the ground to meet market demand. Its operational scale is defined by a market capitalization of $5.27B, an annual revenue of $2.22B, and a workforce consisting of 252 employees. These financial metrics indicate that the company holds a substantial position in the market, supported by significant asset coverage spanning approximately 1,069,991 acres located in the Haynesville and Bossier shales.
财务健康
The company generated a total revenue of $2.22B over the trailing twelve months, resulting in a net income of $392.53M and an EBITDA of $1.32B. The substantial gap between the $2.22B revenue and the $392.53M net income reveals a high cost structure, where operating expenses, including taxes and depreciation, consume a significant portion of gross receipts before arriving at the bottom line. However, the EBITDA of $1.32B demonstrates strong cash generation capability from core operations before non-cash charges and interest obligations. Conversely, the free cash flow stands at -$335,559,616, which indicates a current period of negative liquidity where capital expenditures for exploration and development are exceeding the cash generated from operations. The company maintains a cash balance of $23.93M against a total debt load of $2.90B, reflecting a highly leveraged balance sheet structure. This capital structure is further characterized by a debt-to-equity ratio of 98.00, confirming that the company relies significantly on borrowed funds to finance its asset base. Additionally, the current ratio is recorded at 0.49, a figure below unity that suggests the company's current assets are insufficient to cover its current liabilities without relying on new financing or asset sales. Regarding profitability efficiency, the Return on Equity is 15.9%, while the Return on Assets is 6.0%, metrics that highlight how effectively management utilizes shareholder equity and total assets to generate earnings.
估值评估
The valuation of Comstock Resources, Inc. is assessed through a trailing P/E ratio of 12.55 and a forward P/E ratio of 12.75. The minimal difference between these two multiples implies that the market does not anticipate a dramatic acceleration in earnings growth in the near future. The price-to-book ratio is 1.99, indicating that the stock trades at a moderate premium relative to the company's tangible book value, reflecting market confidence in the quality of its underlying oil and gas reserves. Alternative valuation metrics such as the price-to-sales ratio of 2.38 and an EV/EBITDA of 6.44 provide further context, suggesting the company is valued at a discount relative to its earnings potential when adjusted for enterprise value. Regarding trading range, the 52-week high is $31.17 and the 52-week low is $14.65; without a specific current price provided in the source data, the relative position cannot be calculated, but the range defines the historical volatility envelope. The beta value is 0.39, which indicates that the stock price exhibits significantly lower volatility compared to the broader market, moving less than half as much as the overall index.
Growth & Income
Revenue growth for the year-over-year period is recorded at 114.3%, while the earnings growth rate is listed as N/A. The absence of reported earnings growth data prevents a direct comparison of profit expansion against revenue expansion, though the high revenue growth suggests rapid asset expansion or commodity price appreciation. The company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%. This zero payout ratio indicates that the company retains all of its earnings to reinvest into growth initiatives, such as drilling new wells in the Haynesville and Bossier shales, rather than distributing cash to shareholders. Consequently, the overall growth and income profile is defined by aggressive capital allocation toward production expansion rather than income generation through dividends, aligning with the strategic needs of an exploration and production company in a capital-intensive phase.