Filing Flows › Comstock Resources (CRK) › Q4 2025
Comstock Resources (CRK) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 19, 2026
Comstock Resources (CRK) reported revenue of $787M for the fourth quarter 2025 (Q4 2025), +114% from a year earlier and +75% from the quarter before. Operating margin was 48.3%, net earnings $281M (35.7% of revenue).
Comstock Resources, Q4 2025: revenue $787M (+114% year over year), operating margin 48.3%, net earnings $281M, operating cash flow $224M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $787M | +75% | +114% |
| Operating profit | $380M | +657% | — |
| Net earnings | $281M | +153% | — |
| Operating cash flow | $224M | +46% | -16% |
What changed
Revenue was $787.3M in Q4 2025, up 114% year over year and up 75% from the previous quarter.
Operating profit was $380.0M, a 48.3% margin (up 48.8 points year over year). Total costs grew 10% against revenue growth of 114%. The fastest-growing cost line was General & admin (+36%). Net earnings were $280.9M. The effective tax rate was 20.0%.
Operating cash flow was $224.2M (down 16% year over year), 78% of net income including minority interests. Non-cash charges added back $157.5M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items used $225.7M. Capital expenditures of $365.5M exceeded it, leaving free cash flow of −$141.2M.
Questions
What was Comstock Resources' revenue in the fourth quarter 2025?
Comstock Resources (CRK) reported revenue of $787M for the fourth quarter 2025 (Q4 2025), +114% from a year earlier and +75% from the quarter before.
Was Comstock Resources profitable in the fourth quarter 2025?
Operating profit was $380M (48.3% of revenue) and net earnings $281M.
Source: Comstock Resources 10-K on SEC EDGAR.