Knife River Corporation, together with its subsidiaries, provides aggregates-based construction materials and contracting services in the United States. The company operates through West, Mountain, Central, and Energy Services segments. It mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete. The company also provides contracting services, such as heavy-civil construction, asphalt and concrete paving, and site development and grading. In addition, it sells cement, merchandise, and other building materials and related services; and produces and supplies liquid asphalt for use in asphalt road construction. The company sells its construction materials to public and private-sector customers comprising federal, state, and municipal governments; industrial, commercial, and residential developers, as well as other private parties; and provides its contracting services to public-sector customers for the development and servicing of highways, local roads, bridges, and other public-infrastructure projects. Knife River Corporation was founded in 1917 and is headquartered in Bismarck, North Dakota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.1B | $489M | $157M | $-70M | 9.6% | 8.5% | -22.1% |
| 2024 | $2.9B | $463M | $202M | $150M | 13.7% | 2.4% | 10.3% |
| 2023 | $2.8B | $427M | $183M | $211M | 14.4% | 11.7% | 57.3% |
| 2022 | $2.5B | $307M | $116M | $29M | 11.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,534.73 | 2,830.35 | 2,899.01 | 3,146.01 |
| Cost Of Revenue | 2,173.84 | 2,291.41 | 2,329.18 | 2,568.68 |
| Gross Profit | 360.89 | 538.93 | 569.83 | 577.33 |
| Operating Expense | 166.60 | 242.54 | 253.63 | 291.45 |
| Operating Income | 194.29 | 296.40 | 316.19 | 285.87 |
| EBITDA | 306.74 | 427.21 | 463.11 | 488.89 |
| EBIT | 188.94 | 303.40 | 326.24 | 295.15 |
| Pretax Income | 158.82 | 245.31 | 270.99 | 213.21 |
| Tax Provision | 42.60 | 62.44 | 69.32 | 56.14 |
| Net Income | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income Common Stockholders | 116.22 | 182.87 | 201.68 | 157.07 |
| Total Expenses | 2,340.43 | 2,533.95 | 2,582.81 | 2,860.14 |
| Interest Expense | 30.12 | 58.10 | 55.24 | 81.94 |
| Selling General And Administration | 166.60 | 242.54 | 253.63 | 291.45 |
| Normalized EBITDA | 306.74 | 427.21 | 463.11 | 488.89 |
| Normalized Income | 116.22 | 182.87 | 201.68 | 157.07 |
| Basic EPS | 2.05 | 3.23 | 3.56 | 2.77 |
| Diluted EPS | 2.05 | 3.23 | 3.55 | 2.76 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.27 | 0.26 | 0.26 | 0.26 |
| Net Income From Continuing Operation Net Minority Interest | 116.22 | 182.87 | 201.68 | 157.07 |
| Reconciled Depreciation | 117.80 | 123.81 | 136.87 | 193.74 |
| Reconciled Cost Of Revenue | 2,173.84 | 2,291.41 | 2,329.18 | 2,568.68 |
| Net Interest Income | -30.12 | -58.10 | -55.24 | -81.94 |
| Net Income From Continuing And Discontinued Operation | 116.22 | 182.87 | 201.68 | 157.07 |
| Total Operating Income As Reported | 194.29 | 296.40 | 316.19 | 285.87 |
| Diluted Average Shares | 56.57 | 56.70 | 56.80 | 56.90 |
| Basic Average Shares | 56.57 | 56.60 | 56.60 | 56.65 |
| Diluted NI Availto Com Stockholders | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income Including Noncontrolling Interests | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income Continuous Operations | 116.22 | 182.87 | 201.68 | 157.07 |
| Other Income Expense | -5.35 | 7.01 | 10.04 | 9.27 |
| Other Non Operating Income Expenses | -5.35 | 7.01 | 10.04 | 9.27 |
| Net Non Operating Interest Income Expense | -30.12 | -58.10 | -55.24 | -81.94 |
| Interest Expense Non Operating | 30.12 | 58.10 | 55.24 | 81.94 |
| Operating Revenue | 2,534.73 | 2,830.35 | 2,899.01 | 3,146.01 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Knife River Corporationthis co. | KNF | $5.1B | 32.50β premium | 3.10 | 9.6% | 12.74 |
| SSR Mining Inc. | SSRM | $5.8B | 15.23 | 1.63 | 9.2% | 9.76 |
| UFP Industries, Inc. | UFPI | $5.3B | 18.59 | 1.72 | 9.5% | 8.92 |
| Perimeter Solutions, Inc. | PRM | $5.0B | - | 4.01 | -18.2% | -39.77 |
| USA Rare Earth, Inc. | USAR | $4.8B |
| - |
| 6.62 |
| -60.2% |
| -96.24 |
| Constellium SE | CSTM | $4.4B | 16.79 | 4.58 | 28.1% | 7.60 |
| Cabot Corporation | CBT | $4.0B | 13.24 | 2.51 | 19.4% | 6.56 |
| United States Lime & Minerals, Inc. | USLM | $3.7B | 27.46 | 5.82 | 21.3% | 18.03 |
| NovaGold Resources Inc. | NG | $3.4B | - | 7.70 | -57.8% | -109.35 |
| Peer Median | - | 16.79 | 4.30 | 9.4% | 7.08 | |