Logo

BKV

BKV Corporation

BKV

BKV Corporation • NYSE
$27.61 ▲ 4.62% (+1.22)
Market Cap $2.34 B
52w High $28.35
52w Low $15.00
Dividend Yield 0%
P/E 57.52
Volume 323.50K
Outstanding Shares 84.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $202.968M ▼ $47.295M ▲ $76.313M ▼ 37.599% ▼ $0.9 ▼ $162.997M ▼
Q2-2025 $204.265M ▼ $37.823M ▼ $104.572M ▲ 51.194% ▲ $1.23 ▲ $176.226M ▲
Q1-2025 $225.808M ▲ $279.541M ▲ $-78.666M ▼ -34.838% ▼ $-0.93 ▼ $-62.74M ▼
Q4-2024 $174.258M ▲ $181.839M ▲ $-57.457M ▼ -32.972% ▼ $-0.84 ▼ $-17.072M ▼
Q3-2024 $137.779M $101.401M $12.869M 9.34% $0.19 $92.159M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $83.115M ▲ $2.892B ▲ $1.086B ▲ $1.793B ▲
Q2-2025 $21.426M ▲ $2.304B ▲ $716.369M ▼ $1.59B ▲
Q1-2025 $15.299M ▲ $2.251B ▲ $769.213M ▲ $1.482B ▼
Q4-2024 $14.868M ▼ $2.231B ▼ $671.514M ▲ $1.56B ▼
Q3-2024 $31.318M $2.268B $668.328M $1.599B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $77.713M ▼ $74.535M ▼ $-305.389M ▼ $292.543M ▲ $61.689M ▲ $-18.265M ▼
Q2-2025 $104.735M ▲ $76.163M ▲ $-73.646M ▼ $3.61M ▼ $6.127M ▲ $2.368M ▲
Q1-2025 $-78.666M ▼ $22.62M ▼ $-56.008M ▼ $33.819M ▲ $431K ▲ $-34.754M ▼
Q4-2024 $-57.457M ▼ $43.762M ▼ $-44.563M ▼ $-15.649M ▲ $-16.45M ▼ $-4.38M ▼
Q3-2024 $12.869M $64.994M $-21.004M $-21.869M $22.121M $43.828M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Marketing
Marketing
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Natural Gas Midstream
Natural Gas Midstream
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Natural Gas NGL And Oil
Natural Gas NGL And Oil
 $430.00M ▲$220.00M ▼$200.00M ▼$190.00M ▼
Other Revenue
Other Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Related Party Revenues
Related Party Revenues
 $0 ▲$0 ▲$0 ▲$0 ▲
Natural Gas
Natural Gas
 $300.00M ▲$0 ▼$0 ▲$0 ▲
Oil
Oil
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement BKV’s income statement shows a business that is both opportunity‑rich and highly sensitive to the gas cycle. Revenue ramped up sharply a few years ago but has since stepped down, likely reflecting weaker gas prices and possibly fewer one‑off gains. Profitability has swung between solid profits and meaningful losses, which is typical for a commodity‑driven producer but still important to note. Operating profit and net income both turned negative most recently, despite still‑positive cash earnings before non‑cash charges. That suggests the core operations can generate value, but depreciation, interest, and other costs are currently outweighing that strength. Overall, the company looks fundamentally capable of making money in strong markets, yet its earnings profile is volatile and vulnerable to price swings and investment timing.

Balance Sheet

Balance Sheet The balance sheet reflects a growing asset base and steadily rising shareholder equity, which implies value has been built over time despite the ups and downs in earnings. Debt has increased from very low levels to something more meaningful, but not extreme by energy‑sector standards. Cash on hand, however, is quite thin, which means the company likely relies heavily on ongoing cash generation and access to financing to fund operations and projects. The combination of higher equity and moderate leverage is constructive, but the limited cash cushion creates some financial tightness and puts more pressure on consistent operating performance and prudent capital allocation.

Cash Flow

Cash Flow BKV’s cash flow picture is more stable than its earnings swings suggest. Operating cash flow has been consistently positive in recent years, even when reported profits dipped, which is a good sign that the underlying business throws off real cash. Free cash flow has moved in and out of positive territory mainly based on how aggressively the company invests. During years of heavy capital spending, free cash flow turned negative, reflecting a growth and project build‑out phase, while lighter investment periods produced positive free cash. The key trade‑off is clear: the company is using cash to fund expansion and decarbonization projects, but this leaves less margin for error if market conditions weaken or project timelines slip.

Competitive Edge

Competitive Edge Competitively, BKV occupies an interesting niche: it is both a sizeable natural‑gas producer and a first mover in making gas “cleaner” through carbon capture. Being one of the largest producers in its key shale area gives it scale advantages locally. Its integrated model—owning pieces of production, midstream infrastructure, power generation, and carbon capture—reduces dependence on third parties and can lower costs and operational risk. This setup also allows BKV to offer differentiated products, like gas paired with verified carbon sequestration, which could appeal to utilities and corporates with decarbonization targets. The flip side is that the company is smaller than the global majors, operates in a volatile commodity space, and is taking on complex, capital‑intensive carbon projects that must execute well to truly translate into a durable edge.

Innovation and R&D

Innovation and R&D Innovation is where BKV stands out most. It is not just talking about lower‑carbon energy; it is actually building and operating carbon capture and storage projects today. The Barnett Zero project and the pipeline of new CCS sites show a clear push to turn emissions reduction into a core business, not just a compliance cost. The creation of a dedicated ventures unit, use of digital tools in the field, and programs to redesign well pads and monitoring systems all point to a culture focused on efficiency and environmental performance. The launch of “carbon sequestered gas” and the ability to sell it at a premium is an early proof point that this innovation can produce unique, monetizable products. The main uncertainty is economic: the long‑term profitability of CCS and premium gas products will depend on regulation, customer demand, and execution on large, technically demanding projects.

Summary

Taken together, BKV looks like a mid‑sized, growth‑oriented gas producer that is actively trying to reinvent itself for a lower‑carbon world. The financials tell a story of strong but uneven growth, with solid cash generation but choppy profits and a balance sheet that has more leverage and less cash than a purely conservative profile. The strategic and technological story is more distinctive: vertical integration, early leadership in carbon capture, and the creation of low‑carbon gas offerings provide clear differentiation in a sector often viewed as commoditized. The main watch points are the company’s ability to deliver its CCUS projects on time and on budget, secure durable demand and pricing for its carbon‑sequestered products, and maintain financial discipline through future commodity cycles. If those pieces come together, BKV could evolve from a traditional gas producer into a specialized low‑carbon energy platform; if they do not, the combination of volatility, capital intensity, and tight liquidity could weigh on its long‑term performance.

NEWS

November 10, 2025 · 7:00 AM UTC

BKV Corporation Reports Third Quarter 2025 Financial and Operational Results

Read more

October 29, 2025 · 8:50 AM UTC

BKV Announces Acquisition of Control Position in BKV-BPP Power Joint Venture to Accelerate Growth Strategy

Read more

October 20, 2025 · 7:00 AM UTC

BKV Corporation Announces Third Quarter 2025 Earnings Call Details

Read more

September 29, 2025 · 4:15 PM UTC

BKV Corporation Successfully Closes $370 Million Acquisition of Bedrock Energy Partners' Barnett Shale Assets

Read more

September 24, 2025 · 4:15 PM UTC

BKV Corporation Announces Pricing of Offering of Senior Notes Due 2030

Read more