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BKV Corp. (BKV)

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BKV Corp. (BKV) reported revenue of $322 million for Q2 FY2026, the quarter ended 30 June 2026, up 20.0% on the same quarter a year earlier. Net income was $76 million, down 29.7% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$322 millionup 20.0%
Net income$76 milliondown 29.7%
Diluted EPS$0.67
QuarterQ2 FY2026ended 30 June 2026

BKV (BKV) in brief

BKV (BKV) reported revenue of $1.1 billion for fiscal 2025, the year ended 31 December 2025, up 41.6% on the year before.
Read moreNet income was $179 million and diluted earnings per share $2.05. Revenue was $806 million in fiscal 2024, $1.0 billion in fiscal 2023 and $1.7 billion in fiscal 2022. Net income in the same years was a loss of $139 million, $124 million and $410 million. Over the twelve months to 30 June 2026, BKV reported revenue of $1.2 billion and net income of $267 million. BKV had 109 million shares outstanding at the latest filed count. At 30 June 2026 it carried $1.2 billion of debt and $152 million of cash. At the close of 27 October 2026 the market cap of BKV was $2.3 billion, 7.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE11.6%
ROCE11.0%
Operating margin33.8%
Net margin23.1%
FCF margin-13.9%
Interest covern/a
Debt to equity0.54
Cash conversion1.22
Share count, last 12 months29.2%
Sales CAGR, 3 years-11.8%
Profit CAGR, 3 years-24.1%
EPS, TTM$2.74

At the close of 27 October 2026

Price$21.39
Market cap$2.3 billion
Stock P/E7.81
Price to book1.02
EV / EBITDA5.93
Dividend yieldn/a
Market cap / sales2.03
52-week high$32.16
52-week low$20.28
Price, 1 year2.9%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as BKV Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
BKVgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BKV

Dividendsno dividend in its filings for fiscal 2022 onward
Filings35 in twelve months: 24 current reports (8-K), about 13 regulation FD disclosure; 7 material agreement; 5 other events; 5 results of operations; 3 unregistered sale of equity
Planned insider sales13 Form 144 notices in twelve months, $18.7 million; latest 21 August 2026
Options tapeput/call 0.05 by open interest at the 27 October 2026 close; the straddle prices a 13.9% move to 20 November 2026
13F holders160 funds reported a position for the quarter to 30 June 2026; largest DME Capital Management, LP
Insider trading17 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest10.2 million shares short, 5.39 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 11 quarters

Q3 FY2023Q1 FY2024Q2 FY2024Q3 FY2024 †Q4 FY2024 *Q1 FY2025 †Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue182156134133177272269200256377322
Operating income-5.3-34.4-43.2-21.0-56.3-10016182.310186.0122
Operating margin-3%-22%-32%-16%-32%-37%60%41%39%23%38%
Pre-tax income23.7-51.6-88.124.2-71.0-11714297.787.863.397.5
Tax rate22%n/an/a47%n/an/a21%20%19%18%21%
Net income18.6-38.6-59.712.9-57.5-82.010876.870.444.175.8
Net margin10%-25%-45%10%-32%-30%40%38%28%12%24%
Diluted EPS$0.30-$0.58-$0.90$0.18-$0.68-$0.97$1.27$0.90$0.75$0.42$0.67
Operating cash flown/a19.3-9.565.043.816.576.274.569.472.0110
Capital expendituren/an/an/a52.8n/a57.6n/a20191.210786.8
Free cash flown/an/an/a12.2n/a-41.2n/a-127-21.8-34.522.9
Shares outstanding85m85m85m84m85m85m85m90m97m109m109m
Filing10-Q10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 4 fiscal years and the trailing twelve months

FY2022 †FY2023 †FY2024 †FY2025 †TTM
Revenue1,6601,0108061,1411,155
Operating income305241-64.2304391
Operating margin18.3%23.9%-8.0%26.6%33.8%
Pre-tax income473162-176225346
Income tax62.730.1-42.436.968.3
Effective tax rate13.3%18.6%n/a16.4%19.7%
Net income410124-139179267
Net margin24.7%12.2%-17.2%15.7%23.1%
Diluted EPS$6.62$1.92-$1.94$2.05$2.74
Filing10-K10-K/A10-K/A10-K/A
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2022 †FY2023 †FY2024 †FY2025 †TTM
Operating cash flow349260115280326
Capital expendituren/a202105305486
Free cash flown/a58.810.0-24.7-160
Free cash flow marginn/a5.8%1.2%-2.2%-13.9%
Cash from investing-866-66334.3-576-905
Cash from financing535498-315463661
Depreciation and amortisation130256256197189
Share-based compensation31.925.816.312.817.0
Buybacksn/a0.60.0n/an/a
Diluted shares, weighted62m64m71m87m110m
Shares outstanding at period endn/a64m85m97m109m
Filing10-K10-K/A10-K/A10-K/A
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2022 †FY2023 †FY2024 †FY2025 †TTM
Funded by
Shareholders' equity1,0371,2911,5011,9862,297
Non-controlling interestn/an/a51.868.075.9
Redeemable equity1521870.013.030.2
Debtn/a6548591,1381,250
Other liabilitiesn/a551687734582
Total liabilities and equityn/a2,6833,0993,9394,235
Owned
Goodwilln/a18.418.418.418.4
Cash and equivalents16610581.2248152
Inventoryn/a9.920.120.018.0
Other assetsn/a2,5502,9793,6524,047
Total assetsn/a2,6833,0993,9394,235
Filing10-K10-K/A10-K/A10-K/A
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/a-11.8%35.5%
Profit growth, compoundedn/an/a-24.1%n/a
Return on equity, averagen/a12.2%3.1%9.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was BKV's revenue in fiscal 2025?

BKV (BKV) reported revenue of $1.1 billion for fiscal 2025, the year ended 31 December 2025, up 41.6% on the year before.

How much did BKV earn in fiscal 2025?

Net income was $179 million for fiscal 2025, and diluted earnings per share $2.05.

What is BKV's P/E ratio?

At the close of 27 October 2026, BKV traded at 7.8 times its earnings over the twelve months to 30 June 2026.

What is BKV's market cap?

The market cap of BKV was $2.3 billion at the close of 27 October 2026.

How much debt does BKV have?

At 30 June 2026 BKV carried $1.2 billion of debt and $152 million of cash.

Peers: Petroleum and Natural Gas

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Shell plc SHEL *$298.1 billion17.4610.2%n/a-6.1%0.432.8%
TotalEnergies SE TTE *$203.8 billion15.9811.4%n/a-6.2%0.534.0%
Petróleo Brasileiro S.A. (Petrobras) PBR *$143.6 billion7.3326.0%29.3%-2.4%0.355.6%
Canadian Natural Resources Limited CNQ *$112.5 billion14.6624.4%n/a8.7%0.373.1%
Eni S.p.A. E *$87.1 billion33.715.4%6.1%-7.5%0.594.0%
EOG Resources Inc. EOG$84.5 billion12.5421.6%32.9%19.1%0.252.5%
Occidental Petroleum Corp. OXY$62.7 billionn/an/an/an/a0.311.6%
Diamondback Energy, Inc. FANG$57.4 billion39.873.9%6.3%21.4%0.332.0%
Devon Energy Corp. DVN$56.4 billion12.177.9%16.7%14.6%0.272.0%
Woodside Energy Group Ltd. WDS *$44.0 billion16.327.6%30.0%-1.5%0.334.6%
EQT Corp. EQT$35.2 billion13.0610.7%42.5%32.3%0.221.2%
Expand Energy Corp. EXE$21.8 billion8.2014.1%25.7%28.2%0.240.0%
All 66 in Petroleum and Natural Gas
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ExxonMobil Holdings Corp. XOM$739.7 billion23.1212.6%12.3%9.1%0.162.3%
Chevron Corp. CVX$451.1 billion21.8910.8%14.2%10.2%0.203.1%
Shell plc SHEL *$298.1 billion17.4610.2%n/a-6.1%0.432.8%
TotalEnergies SE TTE *$203.8 billion15.9811.4%n/a-6.2%0.534.0%
ConocoPhillips COP$177.7 billion19.5714.2%n/a9.6%0.362.2%
Petróleo Brasileiro S.A. (Petrobras) PBR *$143.6 billion7.3326.0%29.3%-2.4%0.355.6%
BP plc BP *$134.4 billionn/a0.1%6.6%-1.1%1.093.8%
Marathon Petroleum Corp. MPC$122.4 billion14.9944.8%9.2%15.0%1.720.9%
Equinor ASA EQNR *$117.6 billion24.2512.5%23.8%2.6%0.690.2%
Canadian Natural Resources Limited CNQ *$112.5 billion14.6624.4%n/a8.7%0.373.1%
Valero Energy Corp. VLO$111.5 billion16.0728.8%7.2%12.6%0.451.2%
Phillips 66 PSX$107.1 billion15.2922.5%n/a14.4%0.651.8%
Suncor Energy Inc. SU *$90.9 billion21.9813.1%n/a-4.6%0.222.2%
Eni S.p.A. E *$87.1 billion33.715.4%6.1%-7.5%0.594.0%
EOG Resources Inc. EOG$84.5 billion12.5421.6%32.9%19.1%0.252.5%
SLB Limited SLB$80.2 billion26.1211.9%n/a2.5%0.491.6%
Occidental Petroleum Corp. OXY$62.7 billionn/an/an/an/a0.311.6%
Diamondback Energy, Inc. FANG$57.4 billion39.873.9%6.3%21.4%0.332.0%
Devon Energy Corp. DVN$56.4 billion12.177.9%16.7%14.6%0.272.0%
Woodside Energy Group Ltd. WDS *$44.0 billion16.327.6%30.0%-1.5%0.334.6%
EQT Corp. EQT$35.2 billion13.0610.7%42.5%32.3%0.221.2%
Halliburton Co. HAL$29.5 billion14.9018.0%12.6%1.5%0.641.9%
Expand Energy Corp. EXE$21.8 billion8.2014.1%25.7%28.2%0.240.0%
Permian Resources Corp. PR$21.3 billion16.8610.3%35.8%12.8%0.252.4%
Ovintiv Inc. OVV$19.7 billion20.108.0%9.7%6.0%0.321.7%
APA Corp. APA$17.8 billion10.7423.9%44.4%-16.1%0.532.0%
Range Resources Corp. RRC$13.2 billion14.9518.3%32.4%20.8%0.160.7%
Antero Resources Corp. AR$13.0 billion12.0913.0%24.7%25.8%0.31n/a
SM Energy Co. SM$9.3 billion7.6912.8%29.6%75.4%0.902.2%
Viper Energy, Inc. VNOM$9.0 billion357.311.2%12.3%n/a0.33n/a
PBF Energy Inc. PBF$8.9 billion6.5121.1%5.8%13.5%0.271.6%
Chord Energy Corp. CHRD$8.5 billion10.2710.2%19.0%19.2%0.183.4%
Matador Resources Co. MTDR$7.3 billion10.1712.2%32.2%-3.6%0.712.4%
Transocean Ltd. RIG$7.2 billionn/a-19.8%-24.2%8.5%0.61n/a
Noble Corp. plc NE$7.2 billion137.151.3%12.0%-13.0%0.444.4%
Valaris Ltd. VAL$6.8 billion7.3329.2%11.3%-13.2%0.340.0%
Magnolia Oil & Gas Corp. MGY$6.3 billion11.5719.8%38.0%11.4%0.182.3%
Murphy Oil Corp. MUR$6.2 billion21.355.6%18.5%8.3%0.293.1%
CVR Energy Inc. CVI$5.8 billion84.3413.1%4.1%17.9%3.378.5%
CNX Resources Corp. CNX$5.7 billion6.4419.6%44.4%61.9%0.460.0%
California Resources Corp. CRC$4.8 billionn/a-3.6%-1.7%-22.5%0.383.0%
Patterson-UTI Energy, Inc. PTEN$4.7 billionn/a-2.9%-1.1%-6.9%0.402.9%
Crescent Energy Co. CRGY$4.5 billionn/a1.1%20.6%24.3%1.003.5%
Calumet, Inc. CLMT$4.4 billionn/an/a1.0%12.8%n/an/a
Comstock Resources Inc. CRK$4.4 billion8.3719.7%28.8%31.6%1.200.0%
Delek US Holdings, Inc. DK$4.3 billion19.9153.1%4.8%11.4%7.551.5%
Oceaneering International Inc. OII$4.1 billion12.6427.1%10.4%3.0%0.400.0%
Valvoline Inc. VVV$4.1 billion39.8424.4%15.3%16.1%3.840.4%
Hess Midstream LP HESM$4.1 billion10.91n/a62.1%2.8%n/an/a
Helmerich & Payne, Inc. HP$4.0 billionn/a-5.1%2.3%16.6%0.700.6%
Icahn Enterprises L.P. IEP$4.0 billionn/an/a-4.2%10.6%n/a107.9%
Par Pacific Holdings, Inc. PARR$3.7 billion4.3843.2%13.4%13.2%0.37n/a
Seadrill Ltd. SDRL$3.2 billion1,696.000.0%7.8%13.1%0.26n/a
Talos Energy Inc. TALO$3.0 billionn/a-19.9%-12.7%2.4%0.60n/a
Northern Oil & Gas, Inc. NOG$3.0 billionn/a-24.4%-24.1%-25.6%1.376.4%
Gulfport Energy Corp. GPOR$3.0 billion6.7727.2%45.0%35.2%0.50n/a
Liberty Energy Inc. LBRT$2.8 billion70.582.1%1.7%13.6%0.672.1%
Quaker Chemical Corp. KWR$2.7 billion28.077.1%7.7%7.8%0.631.3%
Select Water Solutions, Inc. WTTR$2.4 billion69.643.0%3.5%-2.0%0.250.3%
BKV Corp. BKV$2.3 billion7.8111.6%33.8%35.5%0.54n/a
National Energy Services Reunited Corp. NESR$2.1 billionn/an/an/an/a0.26n/a
Mach Natural Resources LP MNR$1.8 billion18.95n/a14.4%34.4%n/an/a
Kosmos Energy Ltd. KOS$1.6 billionn/a-76.9%-28.3%6.4%3.791.6%
RPC Inc. RES$1.5 billion73.332.1%1.9%25.4%0.032.4%
WaterBridge Infrastructure LLC WBI$1.5 billionn/a0.5%15.5%n/a2.13n/a
Atlas Energy Solutions Inc. AESI$1.1 billionn/a-10.6%-8.3%-8.1%0.878.3%
35 companies share its SEC industry code (Crude Petroleum & Natural Gas); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-K/A31 December 202519 August 2026EDGAR
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 20256 March 2026EDGAR
10-Q30 September 202510 November 2025EDGAR
10-Q30 June 202512 August 2025EDGAR
10-Q31 March 20259 May 2025EDGAR
10-K31 December 202431 March 2025EDGAR
10-Q30 September 202413 November 2024EDGAR