BKV Corp BKV
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 the generation of natural gas-fired power from our owned and operated assets, supported by a closed-loop strategy enabled by our upstream, midstream, power, and CCUS businesses.
Our operations are supported by four business lines: natural gas production, natural gas midstream, power generation, and CCUS. Our operating approach is designed around a closed-loop model that aligns these business lines to support cost efficiency, commercial optimization, and operational reliability across the value chain. Through this approach, we retain operational control over the production, transportation, and processing of natural gas and provide multiple platforms for disciplined capital deployment, while meeting growing demand for low carbon natural gas and power.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $1.14B | $805.7M | $1.01B | $1.66B | — |
| SG&A | $131.6M | $110.0M | $133.6M | $148.6M | — |
| Total operating expenses | $1.23B | $1.10B | $1.06B | $726.0M | — |
| Operating income | $303.7M | -$64.2M | $241.1M | $304.6M | — |
| Pre-tax income | $225.2M | -$175.8M | $162.1M | $472.8M | — |
| Income tax | $36.9M | $42.4M | $30.1M | $62.7M | — |
| Net income | $179.2M | -$138.7M | $123.6M | $410.1M | — |
| EPS, basic | 2.05 | -1.94 | 2.03 | 6.99 | — |
| EPS, diluted | 2.05 | -1.94 | 1.92 | 6.62 | — |
| Shares, diluted (wtd. avg.) | 86.8M | 71.3M | 64.4M | 62.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $248.4M | $81.2M | $105.0M | $166.5M | $134.7M |
| Receivables | — | — | $3.3M | — | — |
| Inventory | $20.0M | $20.1M | $9.9M | — | — |
| Total current assets | $511.4M | $235.0M | $312.2M | — | — |
| Goodwill | $18.4M | $18.4M | $18.4M | — | — |
| Total assets | $3.94B | $3.10B | $2.68B | — | — |
| Accounts payable | $100.4M | $75.2M | $3.2M | — | — |
| Short-term debt | $200.4M | $9.4M | — | — | — |
| Total current liabilities | $564.6M | $236.7M | $412.3M | — | — |
| Long-term debt | $937.7M | $849.8M | $579.0M | — | — |
| Total liabilities | $1.87B | $1.55B | $1.21B | — | — |
| Retained earnings | $309.1M | $131.3M | $259.9M | — | — |
| Total equity | $1.99B | $1.50B | $1.27B | $1.01B | $663.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $280.4M | $115.4M | $260.3M | $349.2M | — |
| Depreciation and amortisation | $197.2M | $255.9M | $256.2M | $130.0M | — |
| Stock-based compensation | $12.8M | $16.3M | $25.8M | $31.9M | — |
| Capital expenditure | $305.1M | $105.4M | $201.5M | — | — |
| Investing cash flow | -$576.4M | $34.3M | -$663.1M | -$865.6M | — |
| Financing cash flow | $463.3M | -$314.8M | $498.5M | $534.8M | — |
| Buybacks | — | $0 | $600.0K | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-098821.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $1.66B | $1.01B | $805.7M | $1.14B |
| Gross profit | — | — | — | — | — |
| Net income | — | $410.1M | $123.6M | -$138.7M | $179.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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