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BKV (BKV) Financials

BKV logo
$27.91 -1.04 (-3.59%)
Closing price 05/8/2026 03:58 PM Eastern
Extended Trading
$28.45 +0.54 (+1.93%)
As of 05/8/2026 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for BKV

Annual Income Statements for BKV

This table shows BKV's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 410 117 -143 173
Consolidated Net Income / (Loss)		 410 117 -143 175
Net Income / (Loss) Continuing Operations		 410 117 -143 175
Total Pre-Tax Income 		473 145 -186 210
Total Operating Income		 305 158 -155 218
Total Gross Profit		 822 731 352 760
Total Revenue		 1,031 980 574 1,011
Operating Revenue		 1,660 741 608 906
Other Revenue		 -630 239 -34 105
Total Cost of Revenue		 209 249 222 251
Operating Cost of Revenue		 209 249 222 251
Total Operating Expenses		 511 535 504 540
Selling, General & Admin Expense		 152 127 124 179
Depreciation Expense		 119 223 218 157
Other Operating Expenses / (Income)		 246 223 172 204
Other Special Charges / (Income)		 -6.63 -38 -9.68 0.00
Total Other Income / (Expense), net		 162 -51 -34 -7.34
Interest Expense		 37 77 65 29
Interest & Investment Income		 9.64 20 14 16
Other Income / (Expense), net		 189 6.17 16 4.84
Income Tax Expense		 63 28 -44 35
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 1.71
Basic Earnings per Share		 $6.99 $1.93 ($2.00) $1.98
Weighted Average Basic Shares Outstanding		 58.66M 60.73M 71.29M 86.58M
Diluted Earnings per Share		 $6.62 $1.82 ($2.00) $1.98
Weighted Average Diluted Shares Outstanding		 61.99M 64.38M 71.29M 86.82M
Weighted Average Basic & Diluted Shares Outstanding		 - - 84.71M 102.29M

Quarterly Income Statements for BKV

This table shows BKV's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 19 -39 -60 13 -57 -82 105 77 70 44
Consolidated Net Income / (Loss)		 19 -39 -60 13 -57 -87 105 78 71 52
Net Income / (Loss) Continuing Operations		 19 -39 -60 13 -57 -87 105 78 71 52
Total Pre-Tax Income 		24 -52 -88 24 -71 -117 133 98 88 63
Total Operating Income		 -5.30 -34 -43 -21 -56 -100 128 82 101 86
Total Gross Profit		 129 93 84 118 56 35 259 216 262 261
Total Revenue		 191 152 138 173 111 176 322 278 332 433
Operating Revenue		 182 156 138 138 177 274 210 203 262 380
Other Revenue		 9.33 -3.68 - 35 - -98 112 75 70 53
Total Cost of Revenue		 62 59 54 55 55 141 63 62 70 172
Operating Cost of Revenue		 62 59 54 55 55 141 63 62 70 172
Total Operating Expenses		 133 121 126 135 121 135 131 134 159 175
Selling, General & Admin Expense		 31 29 22 38 35 36 45 47 55 57
Depreciation Expense		 52 52 59 57 49 50 38 38 42 53
Other Operating Expenses / (Income)		 51 46 44 44 38 50 48 49 62 65
Total Other Income / (Expense), net		 28 -24 -46 41 -5.83 -17 4.23 15 -13 -23
Interest Expense		 22 18 31 11 5.14 21 5.46 6.48 12 27
Interest & Investment Income		 49 -6.07 -13 51 -17 0.75 9.25 21 -4.67 1.50
Other Income / (Expense), net		 0.40 0.34 -1.50 1.02 16 3.03 0.44 0.57 3.49 2.89
Income Tax Expense		 5.16 -13 -28 11 -14 -31 28 20 17 11
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.00 0.00 - -4.79 0.16 0.86 - 7.77
Basic Earnings per Share		 $0.31 ($0.58) ($0.90) $0.19 ($0.71) ($0.97) $1.23 $0.90 $0.78 $0.42
Weighted Average Basic Shares Outstanding		 59.02M 66.29M 66.35M 68.02M 71.29M 84.71M 84.71M 84.78M 86.58M 102.02M
Diluted Earnings per Share		 $0.30 ($0.58) ($0.90) $0.18 ($0.70) ($0.97) $1.23 $0.90 $0.78 $0.42
Weighted Average Diluted Shares Outstanding		 62.25M 66.29M 66.35M 70.64M 71.29M 84.71M 84.83M 84.98M 86.82M 102.30M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 84.60M 84.71M 84.71M 84.71M 89.97M 102.29M 109.39M

Annual Cash Flow Statements for BKV

This table details how cash moves in and out of BKV's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 18 12 -150 185
Net Cash From Operating Activities		 349 123 119 243
Net Cash From Continuing Operating Activities		 349 123 119 243
Net Income / (Loss) Continuing Operations		 410 117 -143 175
Consolidated Net Income / (Loss)		 410 117 -143 175
Depreciation Expense		 130 224 218 159
Non-Cash Adjustments To Reconcile Net Income		 -192 -45 5.33 -27
Changes in Operating Assets and Liabilities, net		 0.80 -173 38 -64
Net Cash From Investing Activities		 -866 -178 36 -565
Net Cash From Continuing Investing Activities		 -866 -178 36 -565
Purchase of Property, Plant & Equipment		 -248 -193 -101 -572
Divestitures		 0.00 6.67 138 6.88
Other Investing Activities, net		 1.97 8.09 -0.65 0.48
Net Cash From Financing Activities		 535 67 -305 507
Net Cash From Continuing Financing Activities		 535 67 -305 507
Repayment of Debt		 -274 -470 -1,137 -758
Repurchase of Common Equity		 -5.63 -2.90 -3.88 0.00
Payment of Dividends		 - 0.00 0.00 -1.23
Issuance of Debt		 835 393 624 1,077
Issuance of Common Equity		 0.00 150 266 190
Other Financing Activities, net		 -21 -2.96 -53 -1.62
Cash Interest Paid		 32 68 60 16
Cash Income Taxes Paid		 0.40 1.55 0.01 0.23

Quarterly Cash Flow Statements for BKV

This table details how cash moves in and out of BKV's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -27 -2.22 -154 22 -16 -8.47 6.13 62 116 40
Net Cash From Operating Activities		 7.65 19 -9.47 65 44 16 76 75 69 72
Net Cash From Continuing Operating Activities		 7.65 19 -9.47 65 43 16 76 75 69 72
Net Income / (Loss) Continuing Operations		 38 -39 -60 13 -57 -87 105 78 71 52
Consolidated Net Income / (Loss)		 38 -39 -60 13 -57 -87 105 78 71 52
Depreciation Expense		 93 52 59 57 49 50 38 38 43 54
Non-Cash Adjustments To Reconcile Net Income		 35 13 21 -39 11 -29 -3.05 -11 9.60 5.81
Changes in Operating Assets and Liabilities, net		 -158 -7.45 -30 34 41 82 -64 -30 -54 -40
Net Cash From Investing Activities		 -22 -20 122 -21 -45 -56 -74 -305 -130 -233
Net Cash From Continuing Investing Activities		 -22 -20 122 -21 -45 -56 -74 -305 -130 -233
Purchase of Property, Plant & Equipment		 -27 -20 -12 -21 -48 -58 -74 -298 -143 -200
Divestitures		 5.09 0.00 133 0.16 4.21 1.11 0.15 5.62 0.00 0.17
Other Investing Activities, net		 - -0.02 - - -0.63 0.26 - -13 13 -33
Net Cash From Financing Activities		 -13 -1.59 -266 -22 -16 31 3.61 293 177 201
Net Cash From Continuing Financing Activities		 -13 -1.59 -266 -22 -16 31 3.61 293 177 201
Repayment of Debt		 -130 -31 -704 -315 -87 -138 -186 -426 -11 -248
Payment of Dividends		 - - - - - 0.00 - - - -115
Issuance of Debt		 117 30 439 95 60 170 185 712 10 376
Issuance of Common Equity		 - - - 254 12 0.00 - 6.69 179 191
Other Financing Activities, net		 - 0.00 - -53 - -1.18 -0.02 -0.44 0.03 -2.06
Cash Interest Paid		 32 3.99 40 11 4.93 15 4.52 5.88 1.56 11

Annual Balance Sheets for BKV

This table presents BKV's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,683 2,231 3,939
Total Current Assets		 312 95 511
Cash & Equivalents		 25 15 248
Restricted Cash		 140 - 16
Accounts Receivable		 49 66 140
Inventories, net		 9.94 6.26 20
Prepaid Expenses		 3.84 7.64 15
Other Current Assets		 84 0.00 72
Plant, Property, & Equipment, net		 2,209 1,888 2,407
Plant, Property & Equipment, gross		 2,209 2,603 3,257
Accumulated Depreciation		 - 714 849
Total Noncurrent Assets		 143 248 1,021
Goodwill		 18 18 18
Other Noncurrent Operating Assets		 20 115 1,002
Total Liabilities & Shareholders' Equity		 2,683 2,231 3,939
Total Liabilities		 1,205 672 1,873
Total Current Liabilities		 412 166 565
Short-Term Debt		 259 20 200
Accounts Payable		 149 121 229
Current Deferred & Payable Income Tax Liabilities		 0.86 1.44 0.81
Other Current Liabilities		 2.85 23 134
Total Noncurrent Liabilities		 793 505 1,308
Long-Term Debt		 415 165 938
Asset Retirement Reserve & Litigation Obligation		 193 199 230
Noncurrent Deferred & Payable Income Tax Liabilities		 144 89 129
Other Noncurrent Operating Liabilities		 41 53 11
Commitments & Contingencies		 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 187 0.00 13
Total Equity & Noncontrolling Interests		 1,291 1,560 2,054
Total Preferred & Common Equity		 1,291 1,560 1,981
Total Common Equity		 1,291 1,560 1,981
Common Stock		 1,035 1,449 1,678
Retained Earnings		 260 117 309
Treasury Stock		 -4.58 -6.66 -6.66
Noncontrolling Interest		 - 0.00 73

Quarterly Balance Sheets for BKV

This table presents BKV's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,268 2,251 2,304 2,892 4,172
Total Current Assets		 126 105 98 202 568
Cash & Equivalents		 31 15 21 83 289
Restricted Cash		 0.00 - - - 16
Accounts Receivable		 61 73 60 99 153
Inventories, net		 - 6.08 6.96 6.42 19
Prepaid Expenses		 - 5.03 4.44 3.51 13
Other Current Assets		 34 0.19 0.56 9.93 78
Plant, Property, & Equipment, net		 1,878 1,904 1,938 2,359 2,423
Plant, Property & Equipment, gross		 2,550 2,652 2,718 3,172 3,308
Accumulated Depreciation		 672 748 780 813 885
Total Noncurrent Assets		 264 242 268 332 1,180
Goodwill		 18 18 18 18 18
Other Noncurrent Operating Assets		 114 118 135 178 1,162
Total Liabilities & Shareholders' Equity		 2,268 2,251 2,304 2,892 4,172
Total Liabilities		 668 769 716 1,086 1,860
Total Current Liabilities		 139 254 175 236 433
Short-Term Debt		 20 0.00 0.00 0.00 185
Accounts Payable		 112 105 124 216 217
Current Deferred & Payable Income Tax Liabilities		 2.07 1.87 2.27 2.33 0.98
Other Current Liabilities		 5.04 146 49 18 29
Total Noncurrent Liabilities		 529 516 542 850 1,428
Long-Term Debt		 190 200 200 487 1,081
Asset Retirement Reserve & Litigation Obligation		 195 201 204 228 197
Noncurrent Deferred & Payable Income Tax Liabilities		 105 59 87 106 140
Other Noncurrent Operating Liabilities		 39 56 51 29 9.80
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 - -2.07 6.01 19
Total Equity & Noncontrolling Interests		 1,599 1,482 1,590 1,800 2,292
Total Preferred & Common Equity		 1,599 1,482 1,590 1,793 2,212
Total Common Equity		 1,599 1,482 1,590 1,793 2,212
Common Stock		 1,424 1,450 1,454 1,581 1,867
Retained Earnings		 182 38 143 219 352
Treasury Stock		 -6.66 -6.66 -6.66 -6.66 -6.66
Noncontrolling Interest		 - - - 6.80 80

Annual Metrics And Ratios for BKV

This table displays calculated financial ratios and metrics derived from BKV's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - 89,970,076.00
DEI Adjusted Shares Outstanding		 - - - 89,970,076.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - 1.92
Growth Metrics		 - - - -
Profitability Metrics		 - - - -
Net Operating Profit after Tax (NOPAT)		 264 127 -108 181
Return On Investment Capital (ROIC_SIMPLE)		 - 6.46% -6.21% 7.14%
Earnings before Interest and Taxes (EBIT)		 494 164 -139 222
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 624 388 79 381
Valuation Ratios		 - - - -
Leverage & Solvency		 - - - -
Liquidity Ratios		 - - - -
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -1,736 141 -422
Efficiency Ratios		 - - - -
Capital & Investment Metrics		 - - - -
Invested Capital		 0.00 1,863 1,615 2,218
Increase / (Decrease) in Invested Capital		 0.00 1,863 -249 603
Book Value per Share		 $0.00 $21.25 $18.43 $22.66
Tangible Book Value per Share		 $0.00 $20.95 $18.22 $22.45
Total Capital		 0.00 2,152 1,745 2,547
Total Debt		 0.00 674 185 487
Total Long-Term Debt		 0.00 415 165 487
Net Debt		 0.00 404 55 157
Capital Expenditures (CapEx)		 248 193 101 572
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -5.80 -66 -29
Debt-free Net Working Capital (DFNWC)		 0.00 159 -52 170
Net Working Capital (NWC)		 0.00 -100 -72 170
Net Nonoperating Expense (NNE)		 -146 10 35 6.10
Net Nonoperating Obligations (NNO)		 0.00 386 55 157
Total Depreciation and Amortization (D&A)		 130 224 218 159
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($2.00) $1.98
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 71.29M 86.58M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($2.00) $1.98
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 71.29M 86.82M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 84.71M 102.29M
Normalized Net Operating Profit after Tax (NOPAT)		 258 94 -118 181
Debt Service Ratios		 - - - -
Payout Ratios		 - - - -

Quarterly Metrics And Ratios for BKV

This table displays calculated financial ratios and metrics derived from BKV's official financial filings.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - 84,600,301.00 - - - 89,970,076.00 102,288,077.00
DEI Adjusted Shares Outstanding		 - - - - 84,600,301.00 - - - 89,970,076.00 102,288,077.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - -0.68 - - - 0.78 0.43
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% -9.55% - -48.12% 133.85% 60.53% - 145.84%
EBITDA Growth		 0.00% 0.00% 0.00% -21.05% - -392.38% 1,035.35% 222.31% - 402.16%
EBIT Growth		 0.00% 0.00% 0.00% -307.53% - -174.38% 388.33% 514.96% - 191.60%
NOPAT Growth		 0.00% 0.00% 0.00% -169.64% - -172.69% 435.44% 685.76% - 200.53%
Net Income Growth		 0.00% 0.00% 0.00% -30.68% - -103.88% 275.44% 503.88% - 159.75%
EPS Growth		 0.00% 0.00% 0.00% -40.00% - -60.34% 236.67% 400.00% - 143.30%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% - 17.50% 904.34% 14.68% - 337.54%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 78.08% - -1.33%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 26.04% - 110.42%
Revenue Q/Q Growth		 0.00% 0.00% -9.35% 0.00% - 0.00% 308.58% -13.72% - 30.42%
EBITDA Q/Q Growth		 0.00% 0.00% -19.33% 0.00% - 0.00% 413.25% -27.63% - -2.60%
EBIT Q/Q Growth		 0.00% 0.00% -31.32% 0.00% - 0.00% 237.99% -35.68% - -14.60%
NOPAT Q/Q Growth		 0.00% 0.00% -25.66% 0.00% - 0.00% 254.58% -35.45% - -13.52%
Net Income Q/Q Growth		 0.00% 0.00% -54.72% 0.00% - 0.00% 233.14% -25.80% - -27.04%
EPS Q/Q Growth		 0.00% 0.00% -55.17% 0.00% - 0.00% 232.26% -26.83% - -46.15%
Operating Cash Flow Q/Q Growth		 0.00% 151.81% -149.19% 0.00% - -48.31% 236.71% -2.14% - 3.75%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 4.68% 76.50% - -32.33%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% - 0.00% 5.85% 25.95% - 11.30%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 67.35% 61.12% 61.00% 68.39% - 29.21% 80.43% 77.75% - 60.27%
EBITDA Margin		 24.75% 12.00% 10.68% 21.61% - -67.63% 51.85% 43.49% - 33.06%
Operating Margin		 -2.77% -22.62% -31.36% -12.13% - -118.88% 39.87% 29.62% - 19.87%
EBIT Margin		 -2.56% -22.40% -32.45% -11.54% - -118.46% 40.01% 29.82% - 20.54%
Profit (Net Income) Margin		 9.70% -25.40% -43.35% 7.44% - -99.80% 32.52% 27.97% - 11.98%
Tax Burden Percent		 78.26% 74.83% 67.77% 53.24% - 72.94% 78.97% 79.53% - 81.89%
Interest Burden Percent		 -484.08% 151.53% 197.14% -121.05% - 115.52% 102.94% 117.92% - 71.21%
Effective Tax Rate		 21.74% 0.00% 0.00% 46.76% - 0.00% 21.03% 20.47% - 18.11%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% - -53.21% 26.07% 9.96% - 8.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% - -88.73% 37.51% 17.78% - 4.95%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% - -4.41% 1.38% 1.64% - 1.35%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% - -57.62% 27.45% 11.60% - 9.90%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - -57.74%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% - -26.17% 11.83% 9.09% - 8.11%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% - -22.05% 9.62% 8.53% - 4.73%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% - -57.62% 27.48% 11.56% - 9.64%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% - -12.35% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.14 -24 -30 -11 -39 -66 101 65 81 70
NOPAT Margin		 -2.17% -15.83% -21.95% -6.46% - -83.22% 31.48% 23.56% - 16.27%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% -104.46% - 35.52% -11.45% -7.82% - 3.59%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -2.26% -3.90% 5.66% 2.86% 3.21% 1.98%
Cost of Revenue to Revenue		 32.65% 38.88% 39.00% 31.61% - 70.79% 19.57% 22.25% - 39.73%
SG&A Expenses to Revenue		 16.05% 19.23% 16.21% 21.80% - 39.94% 13.97% 17.02% - 13.09%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 69.48% 79.40% 91.63% 78.27% - 148.10% 40.56% 48.13% - 40.40%
Earnings before Interest and Taxes (EBIT)		 -4.90 -34 -45 -20 -40 -93 129 83 104 89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 47 18 15 37 8.75 -53 167 121 147 143
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.81 - 1.20 1.29 1.10 - 1.32
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.82 - 1.22 1.30 1.11 - 1.33
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 - 3.58 3.00 2.50 - 2.30
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 - 0.00 0.00 43.39 - 9.75
Dividend Yield		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 2.30% - 10.25%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.81 - 1.19 1.28 1.08 - 1.22
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 - 3.74 3.09 2.86 - 3.14
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 - 243.06 13.18 9.23 - 6.96
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 - 0.00 0.00 28.68 - 9.74
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 - 0.00 0.00 41.12 - 12.29
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 - 15.24 10.16 10.35 - 13.34
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.13 - 0.14 0.13 0.27 - 0.55
Long-Term Debt to Equity		 0.00 0.00 0.00 0.12 - 0.14 0.13 0.27 - 0.47
Financial Leverage		 0.00 0.00 0.00 0.03 - 0.05 0.04 0.09 - 0.27
Leverage Ratio		 0.00 0.00 0.00 1.42 - 1.52 1.45 1.52 - 1.69
Compound Leverage Factor		 0.00 0.00 0.00 -1.72 - 1.75 1.49 1.79 - 1.21
Debt to Total Capital		 0.00% 0.00% 0.00% 11.59% - 11.89% 11.19% 21.22% - 35.40%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 1.09% - 0.00% 0.00% 0.00% - 5.18%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 10.50% - 11.89% 11.19% 21.22% - 30.22%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% - 0.00% -0.12% 0.56% - 2.76%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 88.41% - 88.11% 88.93% 78.22% - 61.85%
Debt to EBITDA		 0.00 0.00 0.00 0.00 - 26.16 1.25 2.00 - 2.21
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 - 10.35 0.40 1.10 - 1.68
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 - 26.16 1.25 2.00 - 1.89
Debt to NOPAT		 0.00 0.00 0.00 0.00 - -1.33 -6.71 8.91 - 3.91
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 - -0.53 -2.14 4.90 - 2.97
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 - -1.33 -6.71 8.91 - 3.34
Altman Z-Score		 0.00 0.00 0.00 0.00 - 1.42 2.24 1.54 - 1.47
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% - 0.00% -0.13% 0.38% - 2.60%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 0.90 - 0.41 0.56 0.85 - 1.31
Quick Ratio		 0.00 0.00 0.00 0.66 - 0.35 0.46 0.77 - 1.02
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 0.00 -1,656 0.00 -1,621 -1,545 -363 -522 -1,647
Operating Cash Flow to CapEx		 0.00% 96.93% -80.61% 0.00% - 39.43% 103.21% 25.00% - 36.01%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -157.37 - -320.86 -283.08 -56.06 - -60.78
Operating Cash Flow to Interest Expense		 0.00 1.07 -0.31 0.00 - 4.48 13.95 11.51 - 2.66
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -0.03 -0.69 0.00 - -6.88 0.43 -34.52 - -4.72
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 - 0.22 0.30 0.30 - 0.39
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 - 6.81 11.44 9.88 - 11.22
Inventory Turnover		 0.00 0.00 0.00 0.00 - 36.05 32.82 0.00 - 22.69
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 - 0.26 0.35 0.37 - 0.59
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 - 2.08 1.85 1.44 - 1.75
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 - 53.57 31.89 36.93 - 32.54
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 - 10.13 11.12 0.00 - 16.09
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 - 175.69 197.82 253.89 - 209.15
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 - -112.00 -154.80 -216.96 - -160.52
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 1,645 1,615 1,555 1,646 2,074 2,218 3,273
Invested Capital Turnover		 0.00 0.00 0.00 0.00 - 0.64 0.83 0.42 - 0.53
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 1,645 0.00 1,555 1,646 428 603 1,717
Enterprise Value (EV)		 0.00 0.00 0.00 1,338 - 1,858 2,108 2,246 - 3,978
Market Capitalization		 270 270 270 1,292 - 1,779 2,046 1,966 - 2,918
Book Value per Share		 $0.00 $0.00 $0.00 $23.51 $18.43 $17.52 $18.77 $21.17 $22.66 $21.63
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $23.24 $18.22 $17.30 $18.55 $20.95 $22.45 $21.45
Total Capital		 0.00 0.00 0.00 1,809 1,745 1,682 1,788 2,293 2,547 3,577
Total Debt		 0.00 0.00 0.00 210 185 200 200 487 487 1,266
Total Long-Term Debt		 0.00 0.00 0.00 190 165 200 200 487 487 1,081
Net Debt		 0.00 0.00 0.00 46 55 79 64 268 157 962
Capital Expenditures (CapEx)		 0.00 20 12 0.00 48 57 74 298 143 200
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 -25 -66 -164 -98 -118 -29 16
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 6.44 -52 -148 -76 -35 170 321
Net Working Capital (NWC)		 0.00 0.00 0.00 -13 -72 -148 -76 -35 170 135
Net Nonoperating Expense (NNE)		 -23 15 29 -24 18 13 -3.34 -12 10 19
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 46 55 74 58 268 157 962
Total Depreciation and Amortization (D&A)		 52 52 59 57 49 40 38 38 43 54
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - -32.93% -14.34% -14.97% - 1.29%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - -29.86% -11.19% -4.40% - 25.31%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% - -29.86% -11.19% -4.40% - 10.68%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.19 ($0.71) ($0.93) $1.23 $0.90 $0.78 $0.42
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 68.02M 71.29M 84.71M 84.71M 84.78M 86.58M 102.02M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.18 ($0.70) ($0.93) $1.23 $0.90 $0.78 $0.42
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 70.64M 71.29M 84.71M 84.83M 84.98M 86.82M 102.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 84.60M 84.71M 84.71M 84.71M 89.97M 102.29M 109.39M
Normalized Net Operating Profit after Tax (NOPAT)		 -5.09 -29 -30 -13 -39 -66 101 65 81 70
Normalized NOPAT Margin		 -2.66% -18.87% -21.68% -7.66% - -83.22% 31.48% 23.56% - 16.27%
Pre Tax Income Margin		 12.40% -33.94% -63.97% 13.97% - -136.84% 41.18% 35.17% - 14.63%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -0.22 -1.88 -1.45 -1.90 - -18.48 23.61 12.80 - 3.28
NOPAT to Interest Expense		 -0.19 -1.33 -0.98 -1.06 - -12.98 18.58 10.11 - 2.60
EBIT Less CapEx to Interest Expense		 0.00 -2.98 -1.83 0.00 - -29.84 10.08 -33.24 - -4.10
NOPAT Less CapEx to Interest Expense		 0.00 -2.43 -1.36 0.00 - -24.34 5.06 -35.93 - -4.78
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 37.12%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% - -1.80% -15.44% 0.93% - 37.12%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-focused snapshot of BKV Corp (NYSE: BKV) using the most recent quarterly data across the last several years. The emphasis is on trends in revenue, profitability, cash flow, and leverage to help readers gauge the company’s trajectory and liquidity.

  • Total revenue rose sharply in Q4 2025 to $331.9M, up from $111.2M in Q4 2024, with operating revenue of $261.7M and other revenue of $70.2M. This shows a broad-based expansion in top-line activity.
  • Net income attributable to common shareholders improved meaningfully in 2025, delivering $104.6M in Q2, $76.9M in Q3, and $70.4M in Q4 (vs. a negative start in Q1 2025 at -$59.7M), signaling a clear profitability uptrend.
  • Operating cash flow from continuing operations was solid in 2025, with quarterly figures of $76.2M (Q2), $74.5M (Q3), and $69.4M (Q4), highlighting strong cash generation from core operations.
  • Total assets expanded meaningfully through 2025, rising from about $2.25B in Q1 2025 to roughly $2.89B by Q3 2025, reflecting ongoing investments and capacity growth.
  • Other Revenue represented about 21% of total revenue in Q4 2025, indicating a diversified revenue mix beyond core operating sales.
  • Balance sheet leverage remains moderate, with Total Liabilities around $1.086B and Total Equity around $1.793B in Q3 2025, suggesting a balanced capital structure despite growth initiatives.
  • Tax expense in Q4 2025 was $16.7M on pre-tax income of $87.8M, implying a tax rate near 19%, which is in line with recent quarterly tax rates.
  • Financing activity in late 2025 contributed to liquidity, including a large equity issuance of about $179.4M and a net financing inflow of $176.8M in Q4 2025, supporting growth funding.
  • Free cash flow was negative in key 2025 quarters due to heavy capital expenditures: about -$73.6M FCF in Q4 2025 (69.4M OCF minus $143.0M capex) and about -$223.5M FCF in Q3 2025 (74.5M OCF minus $298.1M capex).
  • Quarterly earnings volatility persists, with Q1 2025 showing negative earnings per share (-$0.93) and a negative net income, underscoring near-term earnings sensitivity despite later 2025 gains.
05/09/26 11:18 PM ETAI Generated. May Contain Errors.

BKV Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BKV's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

BKV's net income appears to be on a downward trend, with a most recent value of $174.84 million in 2025, falling from $410.14 million in 2022. The previous period was -$142.87 million in 2024. Check out BKV's forecast to explore projected trends and price targets.

BKV's total operating income in 2025 was $217.61 million, based on the following breakdown:
  • Total Gross Profit: $759.77 million
  • Total Operating Expenses: $540.35 million

Over the last 3 years, BKV's total revenue changed from $1.03 billion in 2022 to $1.01 billion in 2025, a change of -1.9%.

BKV's total liabilities were at $1.87 billion at the end of 2025, a 178.8% increase from 2024, and a 55.3% increase since 2023.

In the past 2 years, BKV's cash and equivalents has ranged from $14.87 million in 2024 to $248.43 million in 2025, and is currently $248.43 million as of their latest financial filing in 2025.

Over the last 3 years, BKV's book value per share changed from 0.00 in 2022 to 22.66 in 2025, a change of 2,265.9%.


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Financial statements for NYSE:BKV last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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