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BKV Corporation ( BKV, the Company, our, we, and us ) is a forward-thinking, growth-driven energy company focused on creating long-term risk-adjusted stockholder value through the development of natural gas producing assets, the ownership and operation of natural gas-fired power generation assets, and selective accretive acquisitions. Our core businesses are the production of natural gas and th…
24.35% operating margin is above average. ROIC at 8.57%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 47.8% YoY with margins expanding 50.0pp. However, free cash flow softened 426%, worth monitoring whether this is timing or structural.
Free cash flow declined 426% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$57M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$998M
▲ +47.8% YoY
Net Income (TTM)
$296M
▲ +221.2% YoY
Op. Margin
40.46%
▲ +50.0pp YoY
ROIC
12.73%
▲ +15.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$51M
▼ -426.1% YoY
Op. Cash Flow (TTM)
$298M
▲ +104.8% YoY
Net Debt
$1.15B
Cash & Equiv.
$289M
3Y CAGR: -18.7%
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