Comstock Resources, Inc.

CRK ·Energy, Oil & Gas E&P, United States
Valuation › AI Valuation

AI Valuation

AI-generated fair value estimate for this company.

AI Fair Value $8.41
Market Price $13.05
Overvalued By 55.2%

Method: 10-year DCF on unlevered free cash flow: estimated EBITDA of ~$1.07B (57% margin on $1.88B TTM revenue, typical for a low-cost Haynesville gas producer) less maintenance/growth capex yields a ~$268M FCF base, growing 15%/yr years 1-5 (Haynesville production ramp and the SOCAR strategic partnership), 5%/yr years 6-10; 11% discount rate (commodity-price risk); 2% terminal growth; enterprise value less $3,125M net debt ($3,170M debt less $45.0M cash); 293.62M shares.

Reasoning: As a leveraged natural-gas E&P, Comstock's equity value is highly sensitive to both production growth and net debt, so an EBITDA-based unlevered FCF DCF with an explicit net-debt bridge is the standard, more accurate approach versus a simple earnings multiple.