BKV FY 2025 Earnings Report — BKV Corporation Revenue & Financial Results | Market Cap Arena

BKV CorporationBKV

FY 2025 Earnings

Reported March 6, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$896M	—	$605M	—	48.2%
Op. Income	$159M	—	-$155M	—	202.9%
Gross Margin	31.7%	—	64.0%	—	-32.3pp
Net Margin	19.3%	—	-23.6%	—	43.0pp
EPS (Diluted)	$1.95	—	$-2.02	—	196.5%
Free Cash Flow	-$57M	—	$18M	—	-426.1%

Revenue Flow

Item	Amount
REVENUE	$896M
Cost of Revenue	$612M
GROSS PROFIT	$284M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$124M
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$124M
Cost & Expenses	$736M
OPERATING INCOME	$159M
Interest Income	$991.0K
Interest Expense	$43M
Other Income/Expenses	$51M
INCOME BEFORE TAX	$210M
Income Tax Expense	$35M
Net Income from Continuing Ops	$175M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$173M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$173M
D&A	$159M
EBIT	$253M
EBITDA	$412M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$896M
Cost of Revenue	$612M
GROSS PROFIT	$284M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$124M
SG&A Expenses	$124M
Other Expenses	$0
Operating Expenses	$124M
Cost & Expenses	$736M
OPERATING INCOME	$159M
Interest Income	$991.0K
Interest Expense	$43M
Other Income/Expenses	$51M
INCOME BEFORE TAX	$210M
Income Tax Expense	$35M
Net Income from Continuing Ops	$175M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$173M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$173M
D&A	$159M
EBIT	$253M
EBITDA	$412M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$173M
Depreciation & Amortization	$159M
Stock-Based Compensation	$13M
Deferred Income Tax	$36M
Other Non-Cash Items	-$151M
Change in Working Capital	$13M
OPERATING CASH FLOW	$243M
Capital Expenditure	-$300M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$265M
NET CASH FROM INVESTING	-$565M
Net Debt Issuance	$319M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$17M
NET CASH FROM FINANCING	$507M
FREE CASH FLOW	-$57M
Net Change in Cash	$185M

Balance Sheet

Item	Amount
Cash & Equivalents	$199M
Short-Term Investments	$0
Net Receivables	$112M
Inventory	$6M
Other Current Assets	$64M
TOTAL CURRENT ASSETS	$388M
PP&E (Net)	$2.5B
Goodwill	$18M
Intangible Assets	$0
Long-Term Investments	$157M
Tax Assets	$0
Other Non-Current Assets	$22M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$3.1B
Account Payables	$207M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$10M
TOTAL CURRENT LIABILITIES	$218M
Long-Term Debt	$487M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$123M
Other Non-Current Liabilities	$236M
TOTAL NON-CURRENT LIABILITIES	$846M
TOTAL LIABILITIES	$1.1B
Common Stock	$2M
Additional Paid-In Capital	$1.8B
Retained Earnings	$289M
Treasury Stock	-$7M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$27M
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$487M
Net Debt	$287M