BKV (BKV Corporation) Stock Financials & Earnings | Market Cap Arena

BKV (BKV Corporation) Stock Financials & Earnings | Market Cap Arena

BKVBKV Corporation

Mkt Cap$3B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NYSE

Revenue (TTM)$874M

Net Income (TTM)$173M

EPS (TTM)$1.95

Free Cash Flow (TTM)-$72M

Gross Margin54.2%

Op. Margin8.2%

Net Margin19.7%

FCF Margin-8.3%

P/S Ratio (TTM)3.5x

P/E Ratio (TTM)17.9x

YoY Rev Growth+44.6%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$219M	$182M	$125M
Q2 23	$151M	$109M	-$20M
Q3 23	$182M	$130M	-$5M
Q4 23	$188M	$95M	$56M
Q1 24	$155M	$103M	-$35M
Q2 24	$138M	$78M	-$43M
Q3 24	$138M	$80M	-$21M
Q4 24	$174M	$126M	-$56M
Q1 25	$226M	$186M	-$94M
Q2 25	$204M	$166M	$128M
Q3 25	$203M	$55M	$7M
Q4 25	$241M	$67M	$29M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.9x	4.4x
Q2 23	2.3x	8.0x
Q3 23	3.2x	9.3x
Q4 23	4.2x	26.4x
Q1 24	4.6x	—
Q2 24	4.7x	—
Q3 24	5.0x	—
Q4 24	5.1x	—
Q1 25	4.6x	—
Q2 25	4.2x	—
Q3 25	3.8x	68.9x
Q4 25	3.5x	17.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$13M	-$76M
Q2 23	$67M	$26M
Q3 23	$35M	-$1M
Q4 23	$8M	-$19M
Q1 24	$19M	-$610K
Q2 24	-$9M	-$21M
Q3 24	$65M	$44M
Q4 24	$44M	-$4M
Q1 25	$23M	-$35M
Q2 25	$76M	$2M
Q3 25	$75M	-$18M
Q4 25	$69M	-$22M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$89M
Q2 23	$41M
Q3 23	$36M
Q4 23	$27M
Q1 24	$20M
Q2 24	$12M
Q3 24	$21M
Q4 24	$48M
Q1 25	$57M
Q2 25	$74M
Q3 25	$93M
Q4 25	$91M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-21.6%	-81.2%
Q2 23	-61.1%	-25.9%
Q3 23	-68.2%	-62.7%
Q4 23	-55.3%	+1.9%
Q1 24	-29.2%	+102.5%
Q2 24	-8.7%	+5.7%
Q3 24	-24.3%	-15.3%
Q4 24	-7.2%	+75.5%
Q1 25	+45.8%	+68.2%
Q2 25	+48.4%	-58.0%
Q3 25	+47.3%	+23.2%
Q4 25	+38.3%	-8.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	1.7%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$1M	0.7%
Q2 24	$1M	0.8%
Q3 24	$11M	7.7%
Q4 24	$3M	2.0%
Q1 25	$2M	0.9%
Q2 25	$4M	2.0%
Q3 25	$3M	1.5%
Q4 25	$4M	1.6%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 23	$69M	—
Q2 23	$64M	—
Q3 23	$62M	—
Q4 23	$70M	—
Q1 24	$55M	—
Q2 24	$53M	—
Q3 24	$67M	—
Q4 24	$66M	—
Q1 25	$60M	—
Q2 25	$65M	—
Q3 25	—	$47M
Q4 25	$38M	—

Revenue Segments

Quarter	Marketing	Natural Gas, Midstream	Natural Gas, NGL, And Oil	Other Revenue	Related Party Revenues
Q1 25	$6M	$3M	$216M	$2M	$426K
Q2 25	$1M	$3M	$200M	$3M	$425K
Q3 25	$2M	$3M	$192M	$2M	$447K

Revenue by Geography

Quarter	Pennsylvania	Texas
Q3 24	$5M	$133M
Q1 25	$25M	$206M
Q2 25	$15M	$192M
Q3 25	$11M	$189M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$41M	$0	$41M
Q2 23	$22M	$0	$22M
Q3 23	$54M	$0	$54M
Q4 23	$25M	$0	$25M
Q1 24	$22M	$0	$22M
Q2 24	$9M	$0	$9M
Q3 24	$31M	$0	$31M
Q4 24	$15M	$0	$15M
Q1 25	$15M	$0	$15M
Q2 25	$21M	$0	$21M
Q3 25	$83M	$0	$83M
Q4 25	$199M	$0	$199M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	84M	+0.0%
Q2 23	84M	+0.0%
Q3 23	84M	+0.0%
Q4 23	84M	+0.0%
Q1 24	84M	+0.0%
Q2 24	84M	+0.0%
Q3 24	71M	-16.0%
Q4 24	71M	+0.0%
Q1 25	85M	+19.9%
Q2 25	85M	+0.2%
Q3 25	85M	+0.0%
Q4 25	93M	+9.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 20	—	—
FY 21	—	—
FY 22	—	—
FY 23	—	—
FY 24	$2M	366
FY 25	$2M	366