Comstock Resources (STU:CX91) ROCE % : 1.89% (As of Mar. 2024)

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What is Comstock Resources ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Comstock Resources's annualized ROCE % for the quarter that ended in Mar. 2024 was 1.89%.

Comstock Resources ROCE % Historical Data

The historical data trend for Comstock Resources's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Comstock Resources ROCE % Chart

Comstock Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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9.23

3.91

-0.30

36.08

7.81

Comstock Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
ROCE %	Get a 7-Day Free Trial															16.89	-1.64	4.78	11.76	1.89

Comstock Resources ROCE % Calculation

Comstock Resources's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	381.478	/	( ( (5375.377 - 713.793)	+	(5734.572 - 624.927) )	/ 2 )
	=	381.478	/	( (4661.584	+	5109.645)	/ 2 )
	=	381.478	/	4885.6145
	=	7.81 %

Comstock Resources's ROCE % of for the quarter that ended in Mar. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2024 )		(Q: Dec. 2023 )		(Q: Mar. 2024 )
	=	98.592	/	( ( (5734.572 - 624.927)	+	(5811.863 - 511.537) )	/ 2 )
	=	98.592	/	( ( 5109.645	+	5300.326 )	/ 2 )
	=	98.592	/	5204.9855
	=	1.89 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

Comstock Resources (STU:CX91) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Comstock Resources (STU:CX91) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Comstock Resources Inc (STU:CX91) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

CRK:USA CX91:Germany

Address

5300 Town and Country Boulevard, Suite 500, Comstock Tower, Frisco, TX, USA, 75034

Website

https://www.comstockresources.com

Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets. It is engaged in the acquisition, development, production, and exploration of oil and natural gas. Its oil and gas operations are concentrated in Louisiana, Texas and North Dakota.

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