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% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,534.73 | 2,830.35 | 2,899 | 3,146.01 |
| Operating Revenue | - | 2,534.73 | 2,830.35 | 2,899 | 3,146.01 |
| Cost Of Revenue | - | 2,173.84 | 2,291.42 | 2,329.18 | 2,568.68 |
| Gross Profit | - | 360.89 | 538.93 | 569.83 | 577.33 |
| Operating Expense | - | 166.60 | 242.54 | 253.64 | 291.46 |
| Selling General And Administration | - | 166.60 | 242.54 | 253.64 | 291.46 |
| Total Expenses | - | 2,340.43 | 2,533.95 | 2,582.81 | 2,860.14 |
| Operating Income | - | 194.30 | 296.40 | 316.19 | 285.87 |
| Total Operating Income As Reported | - | 194.30 | 296.40 | 316.19 | 285.87 |
| EBITDA | - | 306.74 | 427.21 | 463.11 | 488.89 |
| Normalized EBITDA | - | 306.74 | 427.21 | 463.11 | 488.89 |
| EBIT | - | 188.94 | 303.40 | 326.24 | 295.15 |
| Interest Expense | - | 30.12 | 58.10 | 55.24 | 81.94 |
| Net Interest Income | - | -30.12 | -58.10 | -55.24 | -81.94 |
| Other Non Operating Income Expenses | - | -5.35 | 7.01 | 10.04 | 9.27 |
| Other Income Expense | - | -5.35 | 7.01 | 10.04 | 9.27 |
| Interest Expense Non Operating | - | 30.12 | 58.10 | 55.24 | 81.94 |
| Net Non Operating Interest Income Expense | - | -30.12 | -58.10 | -55.24 | -81.94 |
| Pretax Income | - | 158.82 | 245.31 | 270.99 | 213.21 |
| Tax Provision | - | 42.60 | 62.44 | 69.32 | 56.14 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income From Continuing And Discontinued Operation | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income From Continuing Operation Net Minority Interest | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income Common Stockholders | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Net Income Including Noncontrolling Interests | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Normalized Income | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Diluted NI Availto Com Stockholders | - | 116.22 | 182.87 | 201.68 | 157.07 |
| Basic Average Shares | - | 56.57 | 56.60 | 56.60 | 56.65 |
| Diluted Average Shares | - | 56.57 | 56.70 | 56.80 | 56.90 |
| Reconciled Depreciation | - | 117.80 | 123.80 | 136.87 | 193.74 |
| Reconciled Cost Of Revenue | - | 2,173.84 | 2,291.42 | 2,329.18 | 2,568.68 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Knife River Corporationthis co. | KNF | $4.3B | 27.69β premium | 2.65 | 9.6% | 11.13 |
| Perimeter Solutions, Inc. | PRM | $5.0B | - | 4.39 | -18.2% | - |
| Constellium SE | CSTM | $4.9B | 18.03 | 5.17 | 28.7% | 7.99 |
| UFP Industries, Inc. | UFPI | $4.5B | 15.97 | 1.48 | 9.3% | 6.98 |
| Cabot Corporation | CBT | $4.3B |
| - |
| - |
| - |
| - |
| - |
| 12.95 |
| 2.77 |
| 21.4% |
| 6.60 |
| NovaGold Resources Inc. | NG | $3.6B | -37.96 | 21.94 | -57.8% | -45.70 |
| Calumet, Inc. | CLMT | $3.3B | -96.45 | -4.45 | 4.6% | 23.49 |
| Perpetua Resources Corp. | PPTA | $3.1B | -31.20 | 28.77 | -92.2% | - |
| Avient Corporation | AVNT | $3.1B | 38.23 | 1.32 | 3.4% | 11.66 |
| Peer Median | - | 12.95 | 3.58 | 4.0% | 7.49 | |