MARKETS / NYSE / CRK

NYSE · CRUDE PETROLEUM & NATURAL GAS · LARGE CAP

Comstock Resources Inc. CRK

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.2B

▲ 77.0% YoY

Net income

$395.6M

Free cash flow

$-449.7M

In brief

What this company does

The company is an independent natural gas producer operating primarily in the Haynesville shale, located in North Louisiana and East Texas. Its natural gas and oil properties are estimated to have proved reserves of 7.0 Tcfe with a PV 10 Value of $4.5 billion as of December 31, 2025, based on SEC prices. As of December 31, 2025, it had 1,069,991 acres (802,769 net) prospective for the Haynesville and Bossier shale plays, located in North Louisiana and East Texas, including its extension of the plays in its Western Haynesville area. It operates 1,074 of the 1,724 producing wells in which it owned an interest. As of December 31, 2025, the company had 252 employees and utilized contract employees for certain of its drilling, completion, and production operations. Enterprise Products Operating and its subsidiaries, Venture Global LNG, Inc., and Shell Energy North America US, L.P. accounted for 18%, 11%, and 10%, respectively, of the company's total 2025 sales. In 2023, the company formed Pinnacle Gas Services LLC to provide gathering and treating services for its emerging Western Haynesville.

Written from the business description in COMSTOCK RESOURCES INC's annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 2.2B

Revenue, FY2025 · full 17-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.2 · Net income 0.4

Compound annual growth

Revenue

−15.1%

+20.9%

+24.3%

+13.1%

Net income

−29.4%

EPS, diluted

−29.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +20.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

19 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 29.1% · Net 18.9%

ROE

FY2025 · ROE 16.2%

Gross margin—

Operating margin29.1%

Net margin18.9%

Return on assets6.3%

EBITDAUSD 1.3B

Each USD of equity produced 16 cents of profit this year.

Cash & shareholders

—

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF -449.7

Net buybacks $M Dividends $M

FY2025 · Dividends 0.0 · Net buybacks —

Dividends paid—

Net buybacks—

Share of profit0.0%

Consecutive raises1 years

Total assetsUSD 7.0B

EquityUSD 2.6B

CashUSD 23.9M

Gross debtUSD 2.8B

Net debtUSD 2.8B

Current ratio0.49×

Net debt stands at 105% of equity.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	2.2	1.3	1.6	3.6	1.9	0.9	0.8	0.3	0.2	0.3	0.6	0.4	0.4	0.4	0.3	0.3	0.6
Operating income $B	0.6	−0.2	0.2	2.3	0.9	0.2	0.3	−0.0	−0.2	−1.2	−0.0	−0.1	−0.1	−0.0	−0.0	−0.0	0.3
EBITDA $B	1.3	0.6	0.8	2.8	1.4	0.6	0.6	0.1	−0.0	−0.8	0.3	0.3	0.2	0.2	0.2	0.2	0.5
Income tax $B	0.1	−0.1	0.0	0.3	0.0	−0.0	0.0	−0.0	0.0	−0.2	−0.0	−0.1	−0.1	−0.0	−0.0	−0.0	0.0
Net income $B	0.4	−0.2	0.2	1.1	−0.3	−0.1	0.1	−0.1	−0.1	−1.0	−0.1	0.0	−0.1	−0.0	−0.0	−0.0	0.3
Free cash flow $B	−0.4	−0.5	−0.4	0.6	0.2	0.1	−0.0	−0.0	−0.1	−0.2	−0.2	−0.2	−0.1	−0.4	−0.2	−0.2	0.0
EPS, diluted $	1.43	−0.76	0.76	4.11	−1.12	−0.39	0.52	−7.61	−11.52	−113.53	−6.20	0.85	−2.16	−0.73	−0.43	−0.81	5.46
Dividend / sh $	0.00	0.00	0.50	0.12	0.00	0.00	·	·	·	·	2.50	0.38	·	·	·	·	·
Payout %	0	−0	66	3	−0	−0	·	·	·	·	−42	44	·	·	·	·	·
ROE %	16.2	−10.0	9.1	68.4	−22.7	−4.4	11.3	·	·	−299.6	−6.3	4.4	−10.2	−3.2	−1.8	−3.4	23.7
Shares out B	0.29	0.29	0.28	0.28	0.23	0.23	0.19	0.02	0.01	0.01	0.05	0.05	0.05	0.05	0.05	0.05	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures · 2 divergences in 69 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 2 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures2 divergent

ActivityCrude Petroleum & Natural Gas

Listed onNYSE

Incorporated inNevada

Fiscal year endsDecember 31

Data on record since2008