CNX Resources vs Comstock Resources
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KIRAβs take AI analyst
I put CNX Resources and Comstock Resources side by side, using each oneβs latest annual report. Here is what stands out:
- CNX Resources is the larger business, with $2.2B of revenue in fiscal 2025 against $2.2B for Comstock Resources.
- CNX Resources turned more of its sales into free cash flow (23.9% FCF margin, against β20.3%).
- CNX Resources earned a higher return on the capital invested in it (11.8%, against 9.7%).
- Investors pay more for each dollar of Comstock Resourcesβs earnings: a P/E of 8.0x against 6.2x for CNX Resources.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
CNX Resources
CNX
4/9
Net marginFCF marginReturn on capitalNet debt / EBITDA
Comstock Resources
CRK
5/9
Revenue growth5-year growthReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | CNX FY25 | CRK FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.8B | $4.2B |
| Revenue | $2.2B | $2.2B |
| Free cash flow | $534M | β$450M |
| Net income | $633M | $396M |
| Growth | ||
| Revenue growth | 76.8% | 77.0% |
| 5-year growth | 12.2% | 20.9% |
| Share count change | 6.0% | 2.5% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | 29.1% |
| Net margin | 28.3% | 17.8% |
| FCF margin | 23.9% | β20.3% |
| Return on capital | 11.8% | 9.7% |
| Return on equity | 15.0% | 16.2% |
| Balance sheet | ||
| Net debt | $2.5B | $2.8B |
| Net debt / EBITDA | 1.6x | 2.2x |
| Dividends and buybacks | $524M | $0.0M |
| Valuation & quality | ||
| P/E | 6.2x | 8.0x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

