Comstock Resources, Inc. CRK

Competitive advantage analysis · energy

Corporate Default
Overall moat score
46/100
Developing

Ranked against 92 peers in Oil & Gas E&P

About Comstock Resources, Inc.

Comstock Resources, Inc., an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets covering an area of approximately 1,069,991 acres are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, … Full CRK analysis →

Key strengths

  • Cost Leadership Position Operating margin at 75.6th percentile with strong OpEx control demonstrates cost leadership.
  • ROIC Sustainably Above Peers ROIC at 71.8th percentile exceeds peers and WACC, demonstrating superior capital allocation.

Key risks

  • Commodity Pressure / Weak Differentiation Gross margin at 18.5th percentile with high volatility suggests weak pricing power or commoditized products.
  • Elevated Debt Risk Debt serviceability is weak (score 0.37), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
33
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where CRK ranks in Oil & Gas E&P

Comstock Resources, Inc. ranks #52 of 93 scored companies in Oil & Gas E&P by moat score — the top 56%. The widest moat in the group is Texas Pacific Land Corporation (TPL) at 84/100.

# Company Moat score Rating
48 Expand Energy Corporation EXEEW 48/100 Developing
49 Prairie Operating Co. PROP 48/100 Developing
50 BKV Corporation BKV 48/100 Developing
51 Expand Energy Corporation EXEEL 47/100 Developing
52 Comstock Resources, Inc. CRK 46/100 Developing
53 AleAnna, Inc. Warrant ANNAW 45/100 Developing
54 AleAnna, Inc. ANNA 44/100 Developing
55 Northern Oil and Gas, Inc. NOG 44/100 Developing
56 Vitesse Energy, Inc. VTS 43/100 Developing

See every Commodities & Mining company ranked by moat score →

How CRK scores on the Corporate Default defenses

Pricing Power

Score 33 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 86 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 32 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 65 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 29 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 37 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding CRK's moat

What is Comstock Resources, Inc.'s moat score?

Comstock Resources, Inc. (CRK) scores 46 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #52 of 93 scored companies in Oil & Gas E&P, the top 56%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 92 companies in Oil & Gas E&P. Its strongest defense is Cost Advantage (86/100) and its weakest is Resilience (29/100).

How does Comstock Resources, Inc. compare with other Oil & Gas E&P companies?

Comstock Resources, Inc. ranks #52 of 93 scored companies in Oil & Gas E&P by moat score. The widest moat in Oil & Gas E&P is Texas Pacific Land Corporation (TPL) at 84/100. The companies ranked closest are Expand Energy Corporation (EXEEL) at 47 just above it and AleAnna, Inc. Warrant (ANNAW) at 45 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 92 companies in Oil & Gas E&P. The defenses are then weighted to produce the overall score out of 100.

Why is Comstock Resources, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Comstock Resources, Inc.?

The Corporate Default template measures 6 defenses, and CRK scores: Pricing Power (33), Cost Advantage (86), Customer Stickiness (32), Capital Efficiency (65), Resilience (29), Scale & Market Position (37). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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