NYSE : BKV

BKV Corporation — Financial statements

Energy · Oil & Gas Exploration & Production · United States

Last price 20.93 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.29B

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Financial statements

BKV Corporation (BKV) reported revenue of 1.05B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Operating Revenue1.04B1.13B799.07M1.01B1.66B889.28M
Other Revenue11.50M11.66M6.63M3.96M2.80M251.00K
Revenue1.05B1.14B805.70M1.01B1.66B889.53M
Cost of Revenue482.48M776.49M667.44M577.98M340.25M260.42M
Gross Profit567.31M364.28M138.25M431.62M1.32B629.11M
Selling, General & Admin143.01M131.57M110.03M133.57M130.26M85.74M
Other Operating Expenses-140.90M-275.04M-152.44M-196.01M747.94M430.77M
Operating Expenses168.22M52.27M213.10M192.68M997.10M608.79M
Operating Income399.09M312.01M-74.84M238.94M322.86M20.32M
Interest Expense-42.07M-91.98M-123.72M-127.54M-37.17M-2.13M
Interest & Investment Income3.79M4.11M7.35M4.72M1.14M8.00K
Earnings From Equity Investments14.89M8.49M910.00K
Other Non Operating Income (Expenses)6.14M9.34M8.99M5.44M1.41M872.00K
EBT Excluding Unusual Items381.84M233.47M-182.22M121.56M296.74M19.98M
Merger & Restructuring Charges-23.80M-6.50M-18.30M
Gain (Loss) on Sale of Assets-1.80M-1.80M10.60M2.21M
Legal Settlements16.87M
Other Unusual Items-2.30M-4.20M38.38M177.49M-194.97M
Pretax Income346.79M225.17M-175.81M162.15M472.79M-174.99M
Income Tax Expense68.47M36.85M-42.43M30.12M62.65M-40.53M
Earnings From Continuing Operations278.31M188.32M-133.38M132.02M410.14M-134.46M
Minority Interest in Earnings-11.09M-9.16M-5.27M-8.47M
Net Income267.22M179.16M-138.65M123.56M410.14M-134.46M
Preferred Dividends & Other Adjustments3.68M1.42M36.25M
Net Income to Common263.54M177.73M-138.65M123.56M410.14M-170.71M
Shares Outstanding (Basic)97.09M86.58M71.29M60.73M58.66M58.50M
Shares Outstanding (Diluted)97.46M86.82M71.29M64.38M61.99M58.50M
EPS (Basic)2.712.05-1.942.036.99-2.92
EPS (Diluted)2.712.05-1.941.926.62-2.92
Free Cash Flow-592.59M-296.84M10.05M-421.51M101.10M289.42M
Free Cash Flow Per Share-6.08-3.420.14-6.551.634.95
Gross Margin54.04%31.93%17.16%42.75%79.51%70.72%
Operating Margin38.02%27.35%-9.29%23.67%19.45%2.28%
Profit Margin25.10%15.58%-17.21%12.24%24.70%-19.19%
Free Cash Flow Margin-56.45%-26.02%1.25%-41.75%6.09%32.54%
EBITDA568.91M509.24M181.02M495.12M452.90M119.16M
EBITDA Margin54.19%44.64%22.47%49.04%27.28%13.40%
D&A For EBITDA169.82M197.22M255.86M256.18M130.04M98.83M
EBIT399.09M312.01M-74.84M238.94M322.86M20.32M
EBIT Margin38.02%27.35%-9.29%23.67%19.45%2.28%
Effective Tax Rate19.74%16.37%18.58%13.25%
Revenue as Reported1.27B1.53B1.04B1.30B1.03B505.68M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents152.19M248.43M81.22M25.41M153.13M134.67M
Cash & Short-Term Investments152.19M248.43M81.22M25.41M153.13M134.67M
Receivables111.89M128.89M77.89M49.06M143.95M107.64M
Inventory17.97M20.04M20.13M9.94M
Prepaid Expenses10.03M14.72M15.69M3.84M
Restricted Cash16.07M15.85M15.78M139.66M
Other Current Assets149.69M83.43M24.27M84.26M23.06M19.07M
Total Current Assets457.83M511.36M234.98M312.16M320.14M261.38M
Property, Plant & Equipment3.52B3.35B2.83B2.21B2.25B1.20B
Long-Term Investments104.75M97.89M89.32M
Goodwill18.42M18.42M18.42M18.42M18.42M18.42M
Long-Term Deferred Tax Assets35.50M
Long-Term Deferred Charges6.60M
Other Long-Term Assets234.00M57.74M20.30M38.45M10.15M17.97M
Total Assets4.24B3.94B3.10B2.68B2.70B1.62B
Accounts Payable114.04M100.43M75.15M47.50M74.96M32.24M
Accrued Expenses79.14M104.35M83.48M101.67M95.79M68.17M
Short-Term Debt127.00M90.00M166.00M
Current Portion of Long-Term Debt185.39M200.39M9.39M112.37M112.00M
Current Portion of Leases6.99M7.67M
Current Income Taxes Payable810.00K1.44M864.00K5.23M30.66M
Other Current Liabilities13.15M150.95M67.25M22.85M218.66M233.30M
Total Current Liabilities398.70M564.59M236.71M412.26M596.63M530.37M
Long-Term Debt1.06B937.72M849.82M414.66M527.04M
Long-Term Leases7.86M5.22M
Long-Term Deferred Tax Liabilities160.29M128.84M92.75M143.97M104.13M
Other Long-Term Liabilities230.83M236.14M366.99M421.49M430.73M419.37M
Total Liabilities1.86B1.87B1.55B1.39B1.66B949.74M
Common Stock1.76M1.64M1.51M1.28M1.13M1.13M
Additional Paid-In Capital1.88B1.68B1.37B1.03B896.43M933.62M
Retained Earnings426.39M309.05M131.32M259.92M150.45M-259.69M
Treasury Stock-6.66M-6.66M-6.66M-4.58M-3.97M-3.97M
Total Common Equity2.30B1.99B1.50B1.29B1.04B671.09M
Minority Interest75.94M80.93M51.83M
Shareholders' Equity2.37B2.07B1.55B1.29B1.04B671.09M
Total Liabilities & Equity4.24B3.94B3.10B2.68B2.70B1.62B
Total Debt1.26B1.15B859.20M654.04M729.04M166.00M
Net Cash (Debt)-1.11B-902.57M-777.98M-628.63M-575.91M-31.33M
Net Cash Per Share-11.42-10.40-10.91-9.76-9.29-0.54
Filing Date Shares Outstanding109.22M102.07M84.49M63.66M58.46M56.18M
Total Common Shares Outstanding109.20M96.66M84.39M63.66M58.46M56.18M
Working Capital59.13M-53.24M-1.72M-100.10M-276.49M-268.99M
Book Value Per Share21.0420.5417.7820.2817.8611.95
Tangible Book Value2.28B1.97B1.48B1.27B1.03B652.67M
Tangible Book Value Per Share20.8720.3517.5719.9917.5411.62
Land127.77M8.09M4.59M3.09M3.09M3.09M
Buildings6.75M6.75M15.71M15.71M16.79M12.68M
Machinery26.45M953.74M949.32M15.10M14.37M6.55M
Construction In Progress35.57M6.35M3.58M76.00K9.85M
Leasehold Improvements1.69M1.69M1.69M1.69M1.63M1.57M

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income267.22M179.16M-138.65M123.56M410.14M-134.46M
Depreciation & Amortization169.82M197.22M255.86M256.18M130.04M98.83M
Loss (Gain) From Sale of Assets2.88M1.80M-10.60M-2.05M
Asset Writedown & Restructuring Costs5.64M5.64M
Loss (Gain) on Equity Investments-14.89M-8.49M-910.00K
Stock-Based Compensation17.02M12.85M16.32M25.76M31.95M30.39M
Other Operating Activities-125.38M-98.91M47.70M-131.52M-191.62M237.42M
Change in Accounts Receivable-32.79M-43.02M-27.77M85.98M-36.31M-28.19M
Change in Accounts Payable34.07M28.26M-27.88M-90.90M62.54M137.55M
Change in Other Net Operating Assets-4.90M-2.63M438.00K-6.73M-49.04M17.50M
Operating Cash Flow318.69M280.37M115.41M260.27M349.19M358.13M
Capital Expenditures-911.28M-577.22M-105.36M-681.77M-248.10M-68.71M
Sale of Property, Plant & Equipment6.09M6.88M5.06M3.31M
Cash Acquisitions2.08M2.08M-619.44M
Divestitures132.57M
Investment in Securities-88.41M
Other Investing Activities-1.59M-8.10M2.00M15.36M1.97M-4.74M
Investing Cash Flow-904.70M-576.36M34.27M-663.11M-865.57M-161.86M
Short-Term Debt Issued44.00M385.50M190.00M
Long-Term Debt Issued1.08B580.00M560.00M645.00M166.00M
Total Debt Issued1.34B1.08B624.00M945.50M835.00M166.00M
Short-Term Debt Repaid-171.00M-348.50M-100.00M
Long-Term Debt Repaid-785.48M-956.00M-221.44M-166.00M-24.00M
Total Debt Repaid-921.88M-785.48M-1.13B-569.93M-266.00M-24.00M
Net Debt Issued (Repaid)416.12M291.52M-503.00M375.56M569.00M142.00M
Issuance of Common Stock356.42M170.63M265.66M150.00M78.00K
Repurchase of Common Stock-4.00K-1.22M
Preferred Dividends Paid-10.33M
Dividends Paid-10.33M
Other Financing Activities-106.08M1.10M-77.47M-27.08M-34.24M-22.71M
Financing Cash Flow666.45M463.26M-314.81M498.49M534.83M-79.05M
Net Cash Flow80.44M167.28M-165.13M95.65M18.46M117.22M
Free Cash Flow-592.59M-296.84M10.05M-421.51M101.10M289.42M
Free Cash Flow Margin-56.45%-26.02%1.25%-41.75%6.09%32.54%
Free Cash Flow Per Share-6.08-3.420.14-6.551.634.95
Levered Free Cash Flow-697.88M-209.58M230.14M-671.70M82.41M392.97M
Unlevered Free Cash Flow-671.59M-152.08M307.46M-591.98M105.64M394.31M
Cash Interest Paid28.96M79.59M133.76M119.98M32.09M393.00K
Cash Income Tax Paid1.01M232.00K6.00K1.54M400.00K
Change in Working Capital-3.62M-17.39M-55.21M-11.65M-22.82M126.86M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization2.20B2.63B2.01B
Enterprise Value3.31B3.06B2.17B
Last Close Price20.9327.1523.78
PE Ratio7.4314.80
Forward PE12.3014.0836.53
PS Ratio2.122.312.49
PB Ratio0.991.271.29
P/TBV Ratio0.981.341.35
P/FCF Ratio199.69
P/OCF Ratio6.999.3817.39
EV/Sales Ratio3.182.682.70
EV/EBITDA Ratio5.876.0112.01
EV/EBIT Ratio8.379.81
EV/FCF Ratio216.38
Debt / Equity Ratio0.530.560.550.510.700.25
Debt / EBITDA Ratio2.222.264.751.321.611.39
Debt / FCF Ratio85.507.210.57
Net Debt / Equity Ratio0.470.440.500.490.550.05
Net Debt / EBITDA Ratio1.961.774.301.271.270.26
Net Debt / FCF Ratio-1.88-3.0477.42-1.495.700.11
Asset Turnover0.320.320.280.380.770.60
Inventory Turnover38.7138.6644.40
Quick Ratio0.660.670.670.180.500.46
Current Ratio1.150.910.990.760.540.49
Return on Equity (ROE)14.05%10.41%-9.38%11.31%47.83%-15.74%
Return on Assets (ROA)7.63%5.54%-1.62%5.55%9.34%0.86%
Return on Invested Capital (ROIC)9.43%9.85%-3.52%10.99%24.12%2.31%
Return on Capital Employed (ROCE)10.40%9.20%-2.60%10.50%15.30%1.90%
Earnings Yield13.46%6.81%-6.91%
FCF Yield-26.60%-11.29%0.50%
Buyback Yield / Dilution-21.10%-21.79%-10.73%-3.85%-5.97%-11.13%