BKV
BKV Corp
Next earnings Aug 10, 2026 · consensus $0.29 EPS, $368M rev
Last earnings -3.0% on 2026-05-07
$27.35
▲ +5.19%$27.35▲ +11.59%
over 1Y
L $19.68H $32.16
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+5.2%
1W+5.7%
1M+2.2%
3M-1.0%
YTD-0.3%
1Y+11.6%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 15 analysts
Buy
Strong recovery year and a clean balance sheet, but P/E 13 flatters peak-cycle gas earnings — own it, don't chase it.
Diluted EPS $1.98 · FY2025
The read
Middling fundamentals offset by an attractive price (~175% below fair value) — worth a look on the value angle.
BKV is a Barnett Shale natural-gas producer with attached midstream, gas-fired power and an emerging CCUS business. FY2025 was a sharp recovery: revenue $894M (+47.8%), net income $173M (+221%) versus a $143M loss in FY2024, op income $218M (+240%) and diluted EPS $1.98 (+199%). The balance sheet is genuinely strong — liabilities/equity just 0.52x, no current-portion debt, and cash jumped to $199M (+1241%). At $26 the stock trades at 13.1x EPS and 3.0x sales, which looks undemanding on the surface.
The surface is the trap. This is a commodity producer whose entire P&L hinges on Henry Hub, which the 10-K itself flags swung from a $1.21 low to a $13.20 high in 2024 and $2.65–$9.86 in 2025. The revenue history makes the cyclicality concrete — $1.66B (FY22) → $739M (FY23) → $605M (FY24) → $894M (FY25), with FY25 revenue still nearly half of FY22 and a net loss only one year ago. A 13x multiple on earnings produced at a $2.81/Mcfe realized price is the classic 'cheap at the cycle high' setup, and an 8.5% ROE in the up year confirms returns are only modest even when prices cooperate. EPS is also flattered by 20.8% share-count growth being a denominator that the December 2025 6.9M-share offering ($170M) and the 5.3M-share BKV-BPP power JV consideration are expanding, diluting the per-share recovery.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 29, 2026, 11:29 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $1.66B | $739M | $605M | $894M |
| Gross profit | — | — | — | — |
| Operating income | $305M | $158M | -$155M | $218M |
| Net income | $410M | $117M | -$143M | $173M |
| Diluted EPS | $6.62 | $1.82 | -$2.00 | $1.98 |
| Net margin | 24.7% | 15.8% | -23.6% | 19.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$3.28B
EV / EBITDA8.7
EV / Sales3.7
EV / FCF—
P / FCF—
PEG (trailing)0.06
Earnings yield5.8%
FCF yield-1.9%
Quality & risk
ROIC (est.)6.8%
Free cash flow-$57.5M
Total debt$487M
Net cash-$287M
Altman Z-Score2.39 grey
Piotroski F-Score6/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+20.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-12
Annual meeting held; directors elected and routine proposals approved by holders
- 8-K Material agreement2026-05-22
Entered a new material definitive agreement (commercial/financing); exhibit filed
- 8-K Earnings results2026-05-07
Q1 2026 10-Q; BKV-BPP power JV now consolidated, results carry FY25 momentum
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q; BKV-BPP power JV now consolidated, results carry FY25 momentum
- DEF 14A Proxy statement2026-04-28
2026 proxy for annual meeting; board, pay and auditor up for shareholder vote
- 8-K Material agreement2026-03-12
Signed a material agreement plus a separate corporate event disclosed
- 8-K Reg FD disclosure2026-03-11
Reg FD investor presentation/conference materials furnished
- 10-K Annual report2026-03-06
FY2025 annual report: revenue +48% to $894M, back to profit after FY24 loss
- 8-K Earnings results2026-02-25
FY2025 results released: net income up 221% to $173M, EPS $1.98
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗4Period ending 2026-06-302026-07-01open ↗8-KPeriod ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-112026-06-12open ↗
Frequently asked
- Is BKV Corp (BKV) a buy?
- BKV currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Strong recovery year and a clean balance sheet, but P/E 13 flatters peak-cycle gas earnings — own it, don't chase it.
- What is BKV's fair value?
- A Modified-Graham model based on BKV's SEC fundamentals estimates a fair value of about $75.24. It is an estimate from reported earnings, not a price target.
- Is BKV overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, BKV currently appears undervalued relative to its SEC-grounded earnings power.
- What is BKV Corp's quality score?
- BKV scores 81.38197115384617/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001838406, latest 10-Q filed 2026-05-07) · EODHD · Proprietary analysis · as of 6/30/2026, 3:29:03 AM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.