BKV Corporation (BKV) 10-Year Financial Performance & Capital Metrics

BKV •

EnergyOil & Gas E&PU.S. natural gas shale producers

AboutBKV Corporation engages in the acquisition, operation, and development of natural gas and NGL properties. It is also involved in the gathering, processing, and transportation of natural gas. The company was founded in 2015 and is based in Denver, Colorado with additional offices in Tunkhannock, Pennsylvania and Fort Worth, Texas. BKV Corporation, LLC operates as a subsidiary of Banpu North America Corporation.Show more

Revenue $896M +48.2%
EBITDA $318M +404.5%
Net Income $173M +221.2%
EPS (Diluted) 1.95 +196.5%
Gross Margin 31.68% -50.5%
EBITDA Margin 35.54% +240.5%
Operating Margin 17.79% +169.5%
Net Margin 19.33% +181.8%
ROE 9.55% +201.5%
ROIC 5.88% +193.8%
Debt/Equity 0.24 +122.7%
Interest Coverage 3.72 +222.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 82 (top 18%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.9%
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 3.0%
✗Negative free cash flow
✗Shares diluted 31.2% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y48.86%

3Y-18.59%

TTM44.59%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-24.99%

TTM220.81%

EPS CAGR

10Y-

5Y-

3Y-26.34%

TTM208.33%

ROCE

10Y Avg4.41%

5Y Avg5.45%

3Y Avg2.16%

Latest6.4%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	122.53M	889.53M	1.66B	739.28M	604.53M	895.64M
Revenue Growth %	-	625.94%	86.64%	-55.47%	-18.23%	48.16%
Cost of Goods Sold+	87.34M	92.28M	118.91M	223.37M	217.53M	611.95M
COGS % of Revenue	71.28%	10.37%	7.16%	30.21%	35.98%	68.32%
Gross Profit+	35.19M	797.25M	1.54B	515.91M	387M	283.7M
Gross Margin %	28.72%	89.63%	92.84%	69.79%	64.02%	31.68%
Gross Profit Growth %	-	2165.5%	93.33%	-66.53%	-24.99%	-26.69%
Operating Expenses+	45.1M	776.93M	1.24B	358.29M	541.8M	124.36M
OpEx % of Revenue	36.8%	87.34%	74.49%	48.46%	89.62%	13.88%
Selling, General & Admin	60.7M	172.57M	280.06M	265.33M	241.46M	124.36M
SG&A % of Revenue	49.54%	19.4%	16.87%	35.89%	39.94%	13.88%
Research & Development	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-
Other Operating Expenses	-15.6M	604.36M	956.69M	92.95M	300.33M	0
Operating Income+	-9.91M	20.32M	304.56M	157.62M	-154.8M	159.34M
Operating Margin %	-8.09%	2.28%	18.34%	21.32%	-25.61%	17.79%
Operating Income Growth %	-	305.14%	1398.62%	-48.25%	-198.21%	202.93%
EBITDA+	80.28M	119.16M	434.6M	382.05M	63.09M	318.29M
EBITDA Margin %	65.52%	13.4%	26.18%	51.68%	10.44%	35.54%
EBITDA Growth %	-	48.42%	264.73%	-12.09%	-83.49%	404.5%
D&A (Non-Cash Add-back)	90.19M	98.83M	130.04M	224.43M	217.89M	158.95M
EBIT	-2.65M	-172.85M	509.96M	222.16M	-135.71M	159.34M
Net Interest Income+	-1.59M	-2.13M	-36.02M	-73.88M	-46.9M	-41.79M
Interest Income	121K	8K	1.14M	3.14M	3.86M	991K
Interest Expense	1.71M	2.13M	37.17M	77.02M	50.76M	42.78M
Other Income/Expense	5.54M	-195.31M	168.23M	-12.48M	-31.67M	50.93M
Pretax Income+	-4.36M	-174.99M	472.79M	145.14M	-186.47M	210.28M
Pretax Margin %	-3.56%	-19.67%	28.48%	19.63%	-30.85%	23.48%
Income Tax+	38.98M	-40.53M	62.65M	28.23M	-43.6M	35.43M
Effective Tax Rate %	993.26%	78.98%	86.75%	80.55%	76.62%	82.34%
Net Income+	-43.35M	-138.21M	410.14M	116.92M	-142.87M	173.13M
Net Margin %	-35.37%	-15.54%	24.7%	15.82%	-23.63%	19.33%
Net Income Growth %	-	-218.85%	396.76%	-71.49%	-222.2%	221.18%
Net Income (Continuing)	-43.35M	-134.46M	410.14M	116.92M	-142.87M	174.84M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	42.29M	49.84M	62.71M	59.99M	0	27.42M
EPS (Diluted)+	-0.52	-2.03	4.88	1.39	-2.02	1.95
EPS Growth %	-	-290.38%	340.39%	-71.52%	-245.32%	196.53%
EPS (Basic)	-0.52	-2.03	4.88	1.39	-2.10	1.96
Diluted Shares Outstanding	84.13M	84.13M	84.13M	84.13M	70.64M	92.67M
Basic Shares Outstanding	84.13M	84.13M	84.13M	84.13M	68.02M	92.07M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	119.03M	261.38M	320.14M	312.16M	94.61M	387.88M
Cash & Short-Term Investments	17.45M	134.67M	153.13M	25.41M	14.87M	199.41M
Cash Only	17.45M	134.67M	153.13M	25.41M	14.87M	199.41M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	79.45M	107.64M	143.95M	49.06M	65.85M	112.02M
Days Sales Outstanding	236.67	44.17	31.65	24.22	39.76	45.65
Inventory	2.88M	4.97M	0	9.94M	6.25M	6.07M
Days Inventory Outstanding	12.03	19.68	-	16.23	10.5	3.62
Other Current Assets	15.48M	9.99M	23.06M	223.92M	0	63.96M
Total Non-Current Assets+	1.22B	1.36B	2.38B	2.37B	2.14B	2.74B
Property, Plant & Equipment	1.2B	1.2B	2.25B	2.21B	1.99B	2.55B
Fixed Asset Turnover	0.10x	0.74x	0.74x	0.33x	0.30x	0.35x
Goodwill	18.42M	18.42M	18.42M	18.42M	18.42M	18.42M
Intangible Assets	0	0	0	0	0	0
Long-Term Investments	15K	89.32M	97.89M	104.75M	115.17M	156.5M
Other Non-Current Assets	2.7M	17.97M	16.75M	38.45M	17.31M	21.84M
Total Assets+	1.34B	1.62B	2.7B	2.68B	2.23B	3.13B
Asset Turnover	0.09x	0.55x	0.61x	0.28x	0.27x	0.29x
Asset Growth %	-	20.73%	66.74%	-0.72%	-16.85%	40.28%
Total Current Liabilities+	48.68M	530.37M	596.63M	412.26M	166.21M	217.89M
Accounts Payable	8.71M	32.24M	74.96M	47.5M	53.24M	206.93M
Days Payables Outstanding	36.38	127.51	230.09	77.62	89.33	123.43
Short-Term Debt	24M	166M	90M	127M	0	0
Deferred Revenue (Current)	0	0	0	0	0	0
Other Current Liabilities	0	91.16M	163.93M	115.22M	23.4M	10.15M
Current Ratio	2.45x	0.49x	0.54x	0.76x	0.57x	1.78x
Quick Ratio	2.39x	0.48x	0.54x	0.73x	0.53x	1.75x
Cash Conversion Cycle	212.32	-63.67	-	-37.17	-39.08	-74.15
Total Non-Current Liabilities+	308.67M	335.52M	910.02M	793.16M	505.31M	845.73M
Long-Term Debt	0	0	527.04M	414.66M	165M	486.78M
Capital Lease Obligations	4.6M	4.69M	0	0	0	0
Deferred Tax Liabilities	37.25M	0	104.13M	143.97M	88.69M	123.36M
Other Non-Current Liabilities	266.81M	330.83M	278.85M	234.53M	251.62M	235.59M
Total Liabilities	357.35M	865.89M	1.51B	1.21B	671.51M	1.06B
Total Debt+	35.14M	181.41M	617.04M	541.66M	165M	486.78M
Net Debt	17.69M	46.74M	463.91M	516.26M	150.13M	287.37M
Debt / Equity	0.04x	0.24x	0.52x	0.37x	0.11x	0.24x
Debt / EBITDA	0.44x	1.52x	1.42x	1.42x	2.62x	1.53x
Net Debt / EBITDA	0.22x	0.39x	1.07x	1.35x	2.38x	0.90x
Interest Coverage	-5.78x	9.52x	8.19x	2.05x	-3.05x	3.72x
Total Equity+	985.14M	754.94M	1.2B	1.48B	1.56B	2.07B
Equity Growth %	-	-23.37%	58.41%	23.56%	5.54%	32.48%
Book Value per Share	11.71	8.97	14.22	17.57	22.08	22.29
Total Shareholders' Equity	942.86M	705.1M	1.13B	1.42B	1.56B	2.04B
Common Stock	1.13M	1.13M	1.13M	1.28M	1.51M	1.64M
Retained Earnings	-26.77M	-259.69M	150.45M	259.92M	117.05M	288.76M
Treasury Stock	0	-3.97M	-3.97M	-4.58M	-6.66M	-6.66M
Accumulated OCI	0	0	0	0	0	0
Minority Interest	42.29M	49.84M	62.71M	59.99M	0	27.42M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-7.41M	358.13M	349.19M	123.08M	118.54M	242.71M
Operating CF Margin %	-6.04%	40.26%	21.03%	16.65%	19.61%	27.1%
Operating CF Growth %	-	4936.37%	-2.5%	-64.75%	-3.69%	104.75%
Net Income	-43.35M	-134.46M	410.14M	116.92M	-142.87M	173.13M
Depreciation & Amortization	0	98.83M	130.04M	224.43M	217.89M	158.95M
Stock-Based Compensation	0	30.39M	31.95M	25.76M	16.32M	12.85M
Deferred Taxes	37.75M	-72.75M	89.06M	32.39M	-44.81M	36.44M
Other Non-Cash Items	72.73M	309.27M	-289.18M	-257.98M	126.02M	-151.41M
Working Capital Changes	-74.54M	126.86M	-22.82M	-18.44M	-54.01M	12.76M
Change in Receivables	-44.48M	-28.19M	-36.31M	86.33M	-19.46M	-31.65M
Change in Inventory	-95K	-2.1M	-6.58M	0	0	0
Change in Payables	-25.22M	94.3M	62.54M	0	0	46.72M
Cash from Investing+	-513.99M	-161.86M	-865.57M	-177.85M	36.07M	-564.9M
Capital Expenditures	-514.3M	-68.71M	-248.1M	-4.89M	-100.92M	-300.17M
CapEx % of Revenue	419.72%	7.72%	14.94%	0.66%	16.69%	33.51%
Acquisitions	311K	-88.41M	-619.44M	0	132.57M	0
Investments	-	-	-	-	-	-
Other Investing	0	-4.74M	1.97M	-172.96M	4.41M	-264.74M
Cash from Financing+	442.72M	-79.05M	534.83M	66.71M	-304.81M	506.74M
Debt Issued (Net)	24M	142M	569M	-77M	-493M	319.13M
Equity Issued (Net)	1000K	-1000K	0	1000K	1000K	1000K
Dividends Paid	0	-98.46M	0	0	0	0
Share Repurchases	0	-122.38M	0	0	0	0
Other Financing	0	121.06M	-34.17M	-6.29M	-77.47M	16.97M
Net Change in Cash	-78.67M	117.22M	18.46M	11.94M	-150.2M	184.54M
Free Cash Flow+	-521.71M	289.42M	101.1M	-69.53M	17.62M	-57.46M
FCF Margin %	-425.77%	32.54%	6.09%	-9.4%	2.92%	-6.42%
FCF Growth %	-	155.48%	-65.07%	-168.77%	125.34%	-426.06%
FCF per Share	-6.20	3.44	1.20	-0.83	0.25	-0.62
FCF Conversion (FCF/Net Income)	0.17x	-2.59x	0.85x	1.05x	-0.83x	1.40x
Interest Paid	1.52M	393K	32.09M	68.48M	60.49M	0
Taxes Paid	0	0	400K	1.54M	6K	0

Key Ratios

Metric	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-4.4%	-15.89%	42.05%	8.75%	-9.41%	9.55%
Return on Invested Capital (ROIC)	-0.74%	1.69%	18.56%	6.47%	-6.27%	5.88%
Gross Margin	28.72%	89.63%	92.84%	69.79%	64.02%	31.68%
Net Margin	-35.37%	-15.54%	24.7%	15.82%	-23.63%	19.33%
Debt / Equity	0.04x	0.24x	0.52x	0.37x	0.11x	0.24x
Interest Coverage	-5.78x	9.52x	8.19x	2.05x	-3.05x	3.72x
FCF Conversion	0.17x	-2.59x	0.85x	1.05x	-0.83x	1.40x
Revenue Growth	-	625.94%	86.64%	-55.47%	-18.23%	48.16%

US Stock Screener

...

BKV Corporation (BKV) 10-Year Financial Performance & Capital Metrics

BKV •

EnergyOil & Gas E&PU.S. natural gas shale producers

Revenue $896M +48.2%
EBITDA $318M +404.5%
Net Income $173M +221.2%
EPS (Diluted) 1.95 +196.5%
Gross Margin 31.68% -50.5%
EBITDA Margin 35.54% +240.5%
Operating Margin 17.79% +169.5%
Net Margin 19.33% +181.8%
ROE 9.55% +201.5%
ROIC 5.88% +193.8%
Debt/Equity 0.24 +122.7%
Interest Coverage 3.72 +222.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 82 (top 18%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 48.9%
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 3.0%
✗Negative free cash flow
✗Shares diluted 31.2% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y48.86%

3Y-18.59%

TTM44.59%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-24.99%

TTM220.81%

EPS CAGR

10Y-

5Y-

3Y-26.34%

TTM208.33%

ROCE

10Y Avg4.41%

5Y Avg5.45%

3Y Avg2.16%

Latest6.4%

Peer Comparison

U.S. natural gas shale producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPSNEpsilon Energy Ltd.	112.94M	5.12	58.25	2.58%	12.86%	5.87%		0.00
ARAntero Resources Corporation	11.35B	36.81	18.13	28.09%	11.13%	7.29%	14.37%	0.46
EQTEQT Corporation	38.33B	61.42	16.16	65.53%	23.59%	7.45%	7.4%	0.29
BKVBKV Corporation	2.82B	31.33	16.07	48.16%	19.75%	8.35%		0.24
RRCRange Resources Corporation	9.78B	41.28	15.07	32.75%	9.58%	15.24%	6.03%	0.29
EXEExpand Energy Corporation	25.7B	107.92	14.26	187.23%	15.01%	9.79%	7.15%
CNXCNX Resources Corporation	5.95B	41.78	10.50	59.19%	28.03%	14.6%	8.98%	0.57
INRInfinity Natural Resources, Inc.	751.12B	16.60	4.46	60.16%	-0.58%	-0.2%		0.51

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	122.53M	889.53M	1.66B	739.28M	604.53M	895.64M
Revenue Growth %	-	625.94%	86.64%	-55.47%	-18.23%	48.16%
Cost of Goods Sold+	87.34M	92.28M	118.91M	223.37M	217.53M	611.95M
COGS % of Revenue	71.28%	10.37%	7.16%	30.21%	35.98%	68.32%
Gross Profit+	35.19M	797.25M	1.54B	515.91M	387M	283.7M
Gross Margin %	28.72%	89.63%	92.84%	69.79%	64.02%	31.68%
Gross Profit Growth %	-	2165.5%	93.33%	-66.53%	-24.99%	-26.69%
Operating Expenses+	45.1M	776.93M	1.24B	358.29M	541.8M	124.36M
OpEx % of Revenue	36.8%	87.34%	74.49%	48.46%	89.62%	13.88%
Selling, General & Admin	60.7M	172.57M	280.06M	265.33M	241.46M	124.36M
SG&A % of Revenue	49.54%	19.4%	16.87%	35.89%	39.94%	13.88%
Research & Development	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-
Other Operating Expenses	-15.6M	604.36M	956.69M	92.95M	300.33M	0
Operating Income+	-9.91M	20.32M	304.56M	157.62M	-154.8M	159.34M
Operating Margin %	-8.09%	2.28%	18.34%	21.32%	-25.61%	17.79%
Operating Income Growth %	-	305.14%	1398.62%	-48.25%	-198.21%	202.93%
EBITDA+	80.28M	119.16M	434.6M	382.05M	63.09M	318.29M
EBITDA Margin %	65.52%	13.4%	26.18%	51.68%	10.44%	35.54%
EBITDA Growth %	-	48.42%	264.73%	-12.09%	-83.49%	404.5%
D&A (Non-Cash Add-back)	90.19M	98.83M	130.04M	224.43M	217.89M	158.95M
EBIT	-2.65M	-172.85M	509.96M	222.16M	-135.71M	159.34M
Net Interest Income+	-1.59M	-2.13M	-36.02M	-73.88M	-46.9M	-41.79M
Interest Income	121K	8K	1.14M	3.14M	3.86M	991K
Interest Expense	1.71M	2.13M	37.17M	77.02M	50.76M	42.78M
Other Income/Expense	5.54M	-195.31M	168.23M	-12.48M	-31.67M	50.93M
Pretax Income+	-4.36M	-174.99M	472.79M	145.14M	-186.47M	210.28M
Pretax Margin %	-3.56%	-19.67%	28.48%	19.63%	-30.85%	23.48%
Income Tax+	38.98M	-40.53M	62.65M	28.23M	-43.6M	35.43M
Effective Tax Rate %	993.26%	78.98%	86.75%	80.55%	76.62%	82.34%
Net Income+	-43.35M	-138.21M	410.14M	116.92M	-142.87M	173.13M
Net Margin %	-35.37%	-15.54%	24.7%	15.82%	-23.63%	19.33%
Net Income Growth %	-	-218.85%	396.76%	-71.49%	-222.2%	221.18%
Net Income (Continuing)	-43.35M	-134.46M	410.14M	116.92M	-142.87M	174.84M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	42.29M	49.84M	62.71M	59.99M	0	27.42M
EPS (Diluted)+	-0.52	-2.03	4.88	1.39	-2.02	1.95
EPS Growth %	-	-290.38%	340.39%	-71.52%	-245.32%	196.53%
EPS (Basic)	-0.52	-2.03	4.88	1.39	-2.10	1.96
Diluted Shares Outstanding	84.13M	84.13M	84.13M	84.13M	70.64M	92.67M
Basic Shares Outstanding	84.13M	84.13M	84.13M	84.13M	68.02M	92.07M
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	119.03M	261.38M	320.14M	312.16M	94.61M	387.88M
Cash & Short-Term Investments	17.45M	134.67M	153.13M	25.41M	14.87M	199.41M
Cash Only	17.45M	134.67M	153.13M	25.41M	14.87M	199.41M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	79.45M	107.64M	143.95M	49.06M	65.85M	112.02M
Days Sales Outstanding	236.67	44.17	31.65	24.22	39.76	45.65
Inventory	2.88M	4.97M	0	9.94M	6.25M	6.07M
Days Inventory Outstanding	12.03	19.68	-	16.23	10.5	3.62
Other Current Assets	15.48M	9.99M	23.06M	223.92M	0	63.96M
Total Non-Current Assets+	1.22B	1.36B	2.38B	2.37B	2.14B	2.74B
Property, Plant & Equipment	1.2B	1.2B	2.25B	2.21B	1.99B	2.55B
Fixed Asset Turnover	0.10x	0.74x	0.74x	0.33x	0.30x	0.35x
Goodwill	18.42M	18.42M	18.42M	18.42M	18.42M	18.42M
Intangible Assets	0	0	0	0	0	0
Long-Term Investments	15K	89.32M	97.89M	104.75M	115.17M	156.5M
Other Non-Current Assets	2.7M	17.97M	16.75M	38.45M	17.31M	21.84M
Total Assets+	1.34B	1.62B	2.7B	2.68B	2.23B	3.13B
Asset Turnover	0.09x	0.55x	0.61x	0.28x	0.27x	0.29x
Asset Growth %	-	20.73%	66.74%	-0.72%	-16.85%	40.28%
Total Current Liabilities+	48.68M	530.37M	596.63M	412.26M	166.21M	217.89M
Accounts Payable	8.71M	32.24M	74.96M	47.5M	53.24M	206.93M
Days Payables Outstanding	36.38	127.51	230.09	77.62	89.33	123.43
Short-Term Debt	24M	166M	90M	127M	0	0
Deferred Revenue (Current)	0	0	0	0	0	0
Other Current Liabilities	0	91.16M	163.93M	115.22M	23.4M	10.15M
Current Ratio	2.45x	0.49x	0.54x	0.76x	0.57x	1.78x
Quick Ratio	2.39x	0.48x	0.54x	0.73x	0.53x	1.75x
Cash Conversion Cycle	212.32	-63.67	-	-37.17	-39.08	-74.15
Total Non-Current Liabilities+	308.67M	335.52M	910.02M	793.16M	505.31M	845.73M
Long-Term Debt	0	0	527.04M	414.66M	165M	486.78M
Capital Lease Obligations	4.6M	4.69M	0	0	0	0
Deferred Tax Liabilities	37.25M	0	104.13M	143.97M	88.69M	123.36M
Other Non-Current Liabilities	266.81M	330.83M	278.85M	234.53M	251.62M	235.59M
Total Liabilities	357.35M	865.89M	1.51B	1.21B	671.51M	1.06B
Total Debt+	35.14M	181.41M	617.04M	541.66M	165M	486.78M
Net Debt	17.69M	46.74M	463.91M	516.26M	150.13M	287.37M
Debt / Equity	0.04x	0.24x	0.52x	0.37x	0.11x	0.24x
Debt / EBITDA	0.44x	1.52x	1.42x	1.42x	2.62x	1.53x
Net Debt / EBITDA	0.22x	0.39x	1.07x	1.35x	2.38x	0.90x
Interest Coverage	-5.78x	9.52x	8.19x	2.05x	-3.05x	3.72x
Total Equity+	985.14M	754.94M	1.2B	1.48B	1.56B	2.07B
Equity Growth %	-	-23.37%	58.41%	23.56%	5.54%	32.48%
Book Value per Share	11.71	8.97	14.22	17.57	22.08	22.29
Total Shareholders' Equity	942.86M	705.1M	1.13B	1.42B	1.56B	2.04B
Common Stock	1.13M	1.13M	1.13M	1.28M	1.51M	1.64M
Retained Earnings	-26.77M	-259.69M	150.45M	259.92M	117.05M	288.76M
Treasury Stock	0	-3.97M	-3.97M	-4.58M	-6.66M	-6.66M
Accumulated OCI	0	0	0	0	0	0
Minority Interest	42.29M	49.84M	62.71M	59.99M	0	27.42M

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-7.41M	358.13M	349.19M	123.08M	118.54M	242.71M
Operating CF Margin %	-6.04%	40.26%	21.03%	16.65%	19.61%	27.1%
Operating CF Growth %	-	4936.37%	-2.5%	-64.75%	-3.69%	104.75%
Net Income	-43.35M	-134.46M	410.14M	116.92M	-142.87M	173.13M
Depreciation & Amortization	0	98.83M	130.04M	224.43M	217.89M	158.95M
Stock-Based Compensation	0	30.39M	31.95M	25.76M	16.32M	12.85M
Deferred Taxes	37.75M	-72.75M	89.06M	32.39M	-44.81M	36.44M
Other Non-Cash Items	72.73M	309.27M	-289.18M	-257.98M	126.02M	-151.41M
Working Capital Changes	-74.54M	126.86M	-22.82M	-18.44M	-54.01M	12.76M
Change in Receivables	-44.48M	-28.19M	-36.31M	86.33M	-19.46M	-31.65M
Change in Inventory	-95K	-2.1M	-6.58M	0	0	0
Change in Payables	-25.22M	94.3M	62.54M	0	0	46.72M
Cash from Investing+	-513.99M	-161.86M	-865.57M	-177.85M	36.07M	-564.9M
Capital Expenditures	-514.3M	-68.71M	-248.1M	-4.89M	-100.92M	-300.17M
CapEx % of Revenue	419.72%	7.72%	14.94%	0.66%	16.69%	33.51%
Acquisitions	311K	-88.41M	-619.44M	0	132.57M	0
Investments	-	-	-	-	-	-
Other Investing	0	-4.74M	1.97M	-172.96M	4.41M	-264.74M
Cash from Financing+	442.72M	-79.05M	534.83M	66.71M	-304.81M	506.74M
Debt Issued (Net)	24M	142M	569M	-77M	-493M	319.13M
Equity Issued (Net)	1000K	-1000K	0	1000K	1000K	1000K
Dividends Paid	0	-98.46M	0	0	0	0
Share Repurchases	0	-122.38M	0	0	0	0
Other Financing	0	121.06M	-34.17M	-6.29M	-77.47M	16.97M
Net Change in Cash	-78.67M	117.22M	18.46M	11.94M	-150.2M	184.54M
Free Cash Flow+	-521.71M	289.42M	101.1M	-69.53M	17.62M	-57.46M
FCF Margin %	-425.77%	32.54%	6.09%	-9.4%	2.92%	-6.42%
FCF Growth %	-	155.48%	-65.07%	-168.77%	125.34%	-426.06%
FCF per Share	-6.20	3.44	1.20	-0.83	0.25	-0.62
FCF Conversion (FCF/Net Income)	0.17x	-2.59x	0.85x	1.05x	-0.83x	1.40x
Interest Paid	1.52M	393K	32.09M	68.48M	60.49M	0
Taxes Paid	0	0	400K	1.54M	6K	0

Key Ratios

Metric	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-4.4%	-15.89%	42.05%	8.75%	-9.41%	9.55%
Return on Invested Capital (ROIC)	-0.74%	1.69%	18.56%	6.47%	-6.27%	5.88%
Gross Margin	28.72%	89.63%	92.84%	69.79%	64.02%	31.68%
Net Margin	-35.37%	-15.54%	24.7%	15.82%	-23.63%	19.33%
Debt / Equity	0.04x	0.24x	0.52x	0.37x	0.11x	0.24x
Interest Coverage	-5.78x	9.52x	8.19x	2.05x	-3.05x	3.72x
FCF Conversion	0.17x	-2.59x	0.85x	1.05x	-0.83x	1.40x
Revenue Growth	-	625.94%	86.64%	-55.47%	-18.23%	48.16%

BKV Corporation (BKV) 10-Year Financial Performance & Capital Metrics

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BKV Corporation (BKV) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare BKV vs Peers

vs INR

vs EQT

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

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Revenue History

Financial Ratios