Comstock Resources vs Murphy Oil
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The short version
- Murphy Oil is the larger business, with $2.7B of revenue in fiscal 2025 against $2.2B for Comstock Resources.
- Comstock Resources grew revenue faster (77.0%, against −10.2%).
- Comstock Resources kept more of each dollar of sales as operating profit (29.1% operating margin, against 11.1%).
- Murphy Oil turned more of its sales into free cash flow (8.4% FCF margin, against −20.3%).
- Comstock Resources earned a higher return on the capital invested in it (9.7%, against 3.7%).
- Investors pay more for each dollar of Murphy Oil’s earnings: a P/E of 22.0x against 7.9x for Comstock Resources.
| Latest fiscal year | CRK · FY25 | MUR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.1B | $6.5B |
| Revenue | $2.2B | $2.7B |
| Free cash flow | −$450M | $227M |
| Net income | $396M | $104M |
| Growth | ||
| Revenue growth | 77.0% | −10.2% |
| 5-year growth | 20.9% | 6.7% |
| Share count change | 2.5% | −4.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 29.1% | 11.1% |
| Net margin | 17.8% | 3.8% |
| FCF margin | −20.3% | 8.4% |
| Return on capital | 9.7% | 3.7% |
| Return on equity | 16.2% | 2.0% |
| Balance sheet | ||
| Net debt | $2.8B | $908M |
| Net debt / EBITDA | 2.2x | 0.7x |
| Dividends and buybacks | $0.0M | $289M |
| Valuation & quality | ||
| P/E | 7.9x | 22.0x |
| Piotroski F-score | 7 | 5 |
Revenue
FY16
CRK —
MUR $1.8B
FY17
CRK $255M
MUR $1.4B
FY18
CRK —
MUR $1.8B
FY19
CRK $769M
MUR $2.8B
FY20
CRK $858M
MUR $2.0B
FY21
CRK $1.9B
MUR $2.3B
FY22
CRK $3.6B
MUR $3.9B
FY23
CRK $1.6B
MUR $3.5B
FY24
CRK $1.3B
MUR $3.0B
FY25
CRK $2.2B
MUR $2.7B
CRK
MUR
Operating margin
FY16
CRK —
MUR −21.5%
FY17
CRK −0.1%
MUR −1.8%
FY18
CRK —
MUR 12.0%
FY19
CRK 35.8%
MUR 15.7%
FY20
CRK 19.0%
MUR −69.3%
FY21
CRK 48.7%
MUR 12.2%
FY22
CRK 62.9%
MUR 40.4%
FY23
CRK 14.5%
MUR 30.1%
FY24
CRK −13.4%
MUR 19.9%
FY25
CRK 29.1%
MUR 11.1%
CRK
MUR
Free cash flow
FY16
CRK −$81.2M
MUR −$326M
FY17
CRK −$5.9M
MUR −$297M
FY18
CRK —
MUR −$262M
FY19
CRK −$35.5M
MUR $145M
FY20
CRK $66.0M
MUR $42.9M
FY21
CRK $170M
MUR $772M
FY22
CRK $631M
MUR $1.2B
FY23
CRK −$408M
MUR $683M
FY24
CRK −$477M
MUR $829M
FY25
CRK −$450M
MUR $227M
CRK
MUR
Return on capital
FY16
CRK −17.6%
MUR −4.2%
FY17
CRK −0.0%
MUR −0.3%
FY18
CRK —
MUR 3.1%
FY19
CRK 7.9%
MUR 5.2%
FY20
CRK 3.5%
MUR −14.2%
FY21
CRK 19.4%
MUR 4.3%
FY22
CRK 46.6%
MUR 19.6%
FY23
CRK 4.1%
MUR 12.6%
FY24
CRK −2.6%
MUR 8.2%
FY25
CRK 9.7%
MUR 3.7%
CRK
MUR
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.