Comstock Resources Inc. Common Stock (CRK)

FairStock Score: 74/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable businesses with honest numbers, and Comstock is a commodity natural-gas producer. Its assets are large—about 1,069,991 acres in the Haynesville and Bossier shales—but size in shale does not equal pricing power. The record is volatile. In fiscal 2025, the year ended 2025-12-31, Comstock earned revenue of $2.2B and net income of $395.6M, or diluted EPS of $1.43, after a fiscal 2024, the year ended 2024-12-31, net loss of $229.7M. That swing fits FairStock's TURNAROUND label. But in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $353.3M, net income $8.8M, and diluted EPS $0.03, down sharply from fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $470.3M, net income $124.8M, and EPS $0.44. Financial health is mixed. FairStock calculates ROE of 19.02%, but ROCE is only 2.92%, debt-to-equity is 1.00, Piotroski is 5/9, and Altman Z is 0.80. Free cash flow is negative $735.2M on a trailing basis, a -17.6% FCF yield. Valuation looks superficially cheap: at the 2026-10-13 close of $14.19, FairStock shows P/E 7.97, P/B 1.62, EV/EBITDA 4.94, and a Graham Number of $18.75, implying a 24.32% margin of safety. Yet low multiples can be a value trap when cash burn and leverage are high. I see a leveraged, cyclical turnaround, not a wide-moat compounder.

In plain English: Comstock Resources is an independent energy company that produces natural gas and oil, mostly from shale fields in Louisiana and Texas. It returned to profit in fiscal 2025 after a loss in fiscal 2024, but its latest quarter showed much lower sales and profit than a year earlier. At the 2026-10-13 close of $14.19, the shares look cheaper than some basic measures of earnings and accounting value, but weak cash flow and debt make the business risky and up-and-down.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer