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BKV Corporation produces and sells natural gas in the Barnett Shale in the Fort Worth Basin of Texas and in the Marcellus Shale in the Appalachian Basin of Northeast Pennsylvania. It is also involved in the gathering, processing, and transportation of natural gas; power generation; and carbon capture, utilization, and sequestration activities. The company was founded in 2015 and is headquartered in Denver, Colorado. BKV Corporation operates as a subsidiary of Banpu North America Corporation.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $894M | $398M | $173M | $-330M | 8.5% | 51.4% | -221.2% |
| 2024 | $591M | $82M | $-143M | $18M | -9.2% | -20.0% | -222.2% |
| 2023 | $739M | $447M | $117M | $-70M | 8.2% | -55.5% | -71.5% |
| 2022 | $1.7B | $640M | $410M | $101M | 36.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 893.78 |
| Operating Revenue | 882.12 |
| Cost Of Revenue | 157.46 |
| Gross Profit | 736.32 |
| Operating Expense | 621.98 |
| Selling General And Administration | 277.23 |
| Total Expenses | 779.44 |
| Operating Income | 114.34 |
| Total Operating Income As Reported | 217.61 |
| EBITDA | 397.87 |
| Normalized EBITDA | 294.60 |
| EBIT | 238.92 |
| Interest Income | 1.58 |
| Interest Expense | 28.65 |
| Net Interest Income | -27.07 |
| Other Non Operating Income Expenses | 4.84 |
| Other Income Expense | 123.01 |
| Interest Income Non Operating | 1.58 |
| Interest Expense Non Operating | 28.65 |
| Net Non Operating Interest Income Expense | -27.07 |
| Pretax Income | 210.28 |
| Tax Provision | 35.43 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 17.35 |
| Net Income Continuous Operations | 174.84 |
| Net Income From Continuing And Discontinued Operation | 173.13 |
| Net Income From Continuing Operation Net Minority Interest | 173.13 |
| Net Income | 173.13 |
| Net Income Common Stockholders | 173.13 |
| Net Income Including Noncontrolling Interests | 174.84 |
| Normalized Income | 87.21 |
| Diluted NI Availto Com Stockholders | 173.13 |
| Basic Average Shares | 86.58 |
| Diluted Average Shares | 86.82 |
| Reconciled Depreciation | 158.95 |
| Reconciled Cost Of Revenue | 157.46 |
| Total Unusual Items | 103.28 |
| Total Unusual Items Excluding Goodwill | 103.28 |
| Preferred Stock Dividends | - |
| Minority Interests | -1.71 |
| Special Income Charges | -1.80 |
| Gain On Sale Of Business | 0 |
| Other Special Charges | - |
| Restructuring And Mergern Acquisition | 0 |
| Gain On Sale Of Security | 105.08 |
| Depreciation Amortization Depletion Income Statement | - |
| General And Administrative Expense | 277.23 |
| Other Gand A | 124.36 |
| Gain On Sale Of Ppe | -1.80 |
| Rent Expense Supplemental | 152.87 |
| Other Operating Expenses | 293.99 |
| Rent And Landing Fees | 152.87 |
| Otherunder Preferred Stock Dividend | - |
| Earnings From Equity Interest | 14.90 |
| Other Taxes | 50.76 |
| Net Income From Tax Loss Carryforward | - |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| BKV Corporationthis co. | BKV | $3.0B | 17.08↑ premium | 1.45 | 8.5% | 8.15 |
| Gulfport Energy Corporation | GPOR | $3.1B | 7.76 | 1.68 | 21.6% | 4.31 |
| Delek US Holdings, Inc. | DK | $2.9B | -128.14 | 10.20 | -8.0% | 7.16 |
| Seadrill Limited | SDRL | $2.9B | - | 1.68 | -2.7% | 12.69 |
| Select Water Solutions, Inc. | WTTR | $2.7B | 127.24 |
| - |
| - |
| - |
| - |
| - |
| 3.35 |
| 2.6% |
| 13.33 |
| DHT Holdings, Inc. | DHT | $2.6B | 12.39 | 2.31 | 18.6% | 8.94 |
| National Energy Services Reunited Corp. | NESR | $2.6B | 49.96 | 2.64 | 5.3% | 11.77 |
| FLOC | FLOC | $2.5B | 60.62 | 10.98 | 18.1% | 8.92 |
| Teekay Tankers Ltd. | TNK | $2.4B | 6.92 | 1.19 | 17.2% | 3.77 |
| Peer Median | - | 12.39 | 2.47 | 11.2% | 8.93 | |