Comstock Resources vs Northern Oil and Gas
Add, change or remove companies; up to four.
The short version
- Northern Oil and Gas is the larger business, with $2.5B of revenue in fiscal 2025 against $2.2B for Comstock Resources.
- Comstock Resources grew revenue faster (77.0%, against 11.2%).
- Comstock Resources kept more of each dollar of sales as operating profit (29.1% operating margin, against 9.9%).
- Northern Oil and Gas turned more of its sales into free cash flow (60.8% FCF margin, against −20.3%).
- Comstock Resources earned a higher return on the capital invested in it (9.7%, against 3.3%).
| Latest fiscal year | CRK · FY25 | NOG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.1B | $3.1B |
| Revenue | $2.2B | $2.5B |
| Free cash flow | −$450M | $1.5B |
| Net income | $396M | $38.8M |
| Growth | ||
| Revenue growth | 77.0% | 11.2% |
| 5-year growth | 20.9% | 35.0% |
| Share count change | 2.5% | −1.9% |
| Profitability | ||
| Gross margin | — | 80.9% |
| Operating margin | 29.1% | 9.9% |
| Net margin | 17.8% | 1.6% |
| FCF margin | −20.3% | 60.8% |
| Return on capital | 9.7% | 3.3% |
| Return on equity | 16.2% | 1.7% |
| Balance sheet | ||
| Net debt | $2.8B | $2.4B |
| Net debt / EBITDA | 2.2x | — |
| Dividends and buybacks | $0.0M | $230M |
| Valuation & quality | ||
| P/E | 7.9x | — |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
CRK —
NOG $145M
FY17
CRK $255M
NOG $209M
FY18
CRK —
NOG $679M
FY19
CRK $769M
NOG $472M
FY20
CRK $858M
NOG $552M
FY21
CRK $1.9B
NOG $497M
FY22
CRK $3.6B
NOG $1.6B
FY23
CRK $1.6B
NOG $2.2B
FY24
CRK $1.3B
NOG $2.2B
FY25
CRK $2.2B
NOG $2.5B
CRK
NOG
Operating margin
FY16
CRK —
NOG −158.3%
FY17
CRK −0.1%
NOG 28.9%
FY18
CRK —
NOG 63.7%
FY19
CRK 35.8%
NOG 11.8%
FY20
CRK 19.0%
NOG −152.3%
FY21
CRK 48.7%
NOG 15.7%
FY22
CRK 62.9%
NOG 54.3%
FY23
CRK 14.5%
NOG 51.8%
FY24
CRK −13.4%
NOG 37.6%
FY25
CRK 29.1%
NOG 9.9%
CRK
NOG
Free cash flow
FY16
CRK −$81.2M
NOG $102M
FY17
CRK −$5.9M
NOG $73.0M
FY18
CRK —
NOG $244M
FY19
CRK −$35.5M
NOG $339M
FY20
CRK $66.0M
NOG $331M
FY21
CRK $170M
NOG $396M
FY22
CRK $631M
NOG $924M
FY23
CRK −$408M
NOG $1.2B
FY24
CRK −$477M
NOG $1.4B
FY25
CRK −$450M
NOG $1.5B
CRK
NOG
Return on capital
FY16
CRK −17.6%
NOG −37.2%
FY17
CRK −0.0%
NOG 13.2%
FY18
CRK —
NOG 52.6%
FY19
CRK 7.9%
NOG 3.0%
FY20
CRK 3.5%
NOG −55.8%
FY21
CRK 19.4%
NOG 8.7%
FY22
CRK 46.6%
NOG 51.9%
FY23
CRK 4.1%
NOG 33.7%
FY24
CRK −2.6%
NOG 15.0%
FY25
CRK 9.7%
NOG 3.3%
CRK
NOG
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.