CRK
Comstock Resources, Inc.
CRK's fundamentals are mixed: its operating margin rose 14 points to 28%, but free cash flow was negative. Its PE of 10x looks cheaper than it really is, because one-off gains boosted its recent earnings. Analysts expect earnings to decline, though they disagree widely on how much.
CRK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Weak | |
| Stable |
CRK's profitability is currently strong, and its revenue and balance sheet are stable, but its cash flow is weak.
CRK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3.4x | $5.01 | -67% |
| Fair | 8.4x | $12.40 | -18% |
| Current | 10x | $15.07 | — |
| Forward | 46x | $15.07 | — |
| Expensive | 47x | $69.96 | +364% |
Historical ranges are pointers, not guarantees.
CRK's PE is in its fair range at 10x, but its recent earnings include one-off gains. Analysts expect earnings to fall, which would put today's price at 46x next year's earnings, in its expensive range.
CRK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Decline | |
| Decline | |
| Stable | |
| Limited | |
| Low |
Analysts expect CRK's earnings and revenue to decline, though with profitability holding steady. However, they disagree widely on these estimates.
CRK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.32 | -78% |
| Q3 2026 | $1.48 | +492% |
| Q2 2026 | $1.80 | +$2.04 |
| Q1 2026 | $2.21 | +$3.32 |
| Q4 2025 | $1.43 | +$2.19 |
| Q3 2025 | $0.25 | +$0.43 |
| Q2 2025 | -$0.24 | -$0.20 |
| Q1 2025 | -$1.11 | -605% |
| Q4 2024 | -$0.76 | -200% |
CRK's earnings per share have fallen from their peak: $1.48 over the past year, against $5.10 in early 2023. Its recent earnings include one-off gains.
CRK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $384.4M | -15% |
| Q2 2026 | $353.3M | -25% |
| Q1 2026 | $587.4M | +15% |
| Q4 2025 | $787.3M | +114% |
| Q3 2025 | $449.9M | +48% |
| Q2 2025 | $470.3M | +91% |
| Q1 2025 | $512.9M | +53% |
| Q4 2024 | $367.4M | -11% |
CRK's revenue is growing: $384M last quarter, down 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6% | -5.2 points |
| Q2 2026 | 6.4% | -13 points |
| Q1 2026 | 30% | +5.2 points |
| Q4 2025 | 48% | +49 points |
| Q3 2025 | 11% | +31 points |
| Q2 2025 | 19% | +57 points |
| Q1 2025 | 25% | +28 points |
| Q4 2024 | -0.5% | -13 points |
CRK's operating margin was 6% last quarter, down 5.2 points from the same quarter a year ago.
CRK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$272M | -$83.6M |
| Q2 2026 | -$261.7M | -8205% |
| Q1 2026 | -$143.8M | -$20.6M |
| Q4 2025 | -$141.2M | -$128.3M |
| Q3 2025 | -$188.4M | -$57.3M |
| Q2 2025 | $3.2M | +$156.4M |
| Q1 2025 | -$123.2M | +$56.7M |
| Q3 2024 | -$131.1M | -285% |
CRK has burned cash in seven of the last eight quarters: −$819M over the past year, against −$321M the year before.
CRK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +160K shares |
| 1 year | -0.7% | -2.2M shares |
| 3 years | +5.3% | +14.8M shares |
| 5 years | +26% | +60M shares |
| Available history | +56% | +104M shares |
CRK has 292M diluted shares, down 0.7% from a year ago.
CRK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.2x | Moderate |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.4x | Elevated |
| Q1 2025 | 4.1x | High |
| Q4 2024 | 4.7x | High |
CRK's net debt is about 2.7 years of its operating earnings (EBITDA), down from 3.3 years a year ago.
CRK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.6 | Neutral |
| Stochastic | 56.3 | Neutral |
CRK's weekly RSI is 52 (neutral) and its Stochastic is 56 (neutral).
CRK PE vs Energy Sector
| Metric | CRK | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 22% below |
| PE % | 60 | 61 | 1 pt below |
CRK is trading at 10x earnings, a 22% discount to the Energy sector's median of 13x, though its recent earnings include one-off gains.
CRK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.9 | 8.7% above |
| 20 week MA | $13.9 | 8.6% above |
| 50 week MA | $17.0 | 12% below |
| 100 week MA | $18.6 | 19% below |
| 200 week MA | $14.7 | 2.3% above |
CRK's trend is mixed: it's above three of its five weekly moving averages, and 2.3% above its 200-week average.
CRK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.45 | $4.49 | -40% |
| 2021 | $4.49 | $8.46 | +88% |
| 2022 | $8.46 | $14.6 | +72% |
| 2023 | $14.6 | $8.85 | -39% |
| 2024 | $8.85 | $17.1 | +93% |
| 2025 | $17.1 | $23.6 | +38% |
| 2026 YTD | $23.6 | $15.1 | -36% |
CRK is down 36% so far in 2026, after finishing higher in four of the previous six years.