BKV
BKV Corporation
BKV's fundamentals are strong: revenue about doubled and its operating margin rose 21 points to 29%. At 8.7x earnings, it's trading in line with its usual 9.2x. Analysts expect that strong growth to continue.
BKV Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Stable |
BKV's revenue and profitability are currently healthy, and its cash flow and balance sheet are stable.
BKV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.7x | $17.11 | -11% |
| Current | 8.7x | $19.27 | — |
| Fair | 9.1x | $20.09 | +4.2% |
| Forward | 12x | $19.27 | — |
| Expensive | 71x | $157 | +715% |
Historical ranges are pointers, not guarantees.
BKV's PE is in its fair range at 8.7x. On analysts' estimates for next year's earnings, today's price would be 12x.
BKV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for BKV, but weaker profitability.
BKV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.66 | -25% |
| Q3 2026 | $2.21 | +467% |
| Q2 2026 | $2.84 | +$3.17 |
| Q1 2026 | $3.40 | +$5.67 |
| Q4 2025 | $2.05 | +$3.85 |
| Q3 2025 | $0.39 | +$0.93 |
| Q2 2025 | -$0.33 | +$0.17 |
| Q1 2025 | -$2.27 | -$2.06 |
| Q4 2024 | -$1.80 | -229% |
BKV's earnings per share have fallen from their peak: $2.21 over the past year, against $8.26 in early 2023.
BKV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $390.3M | +95% |
| Q2 2026 | $322.5M | +56% |
| Q1 2026 | $376.5M | +63% |
| Q4 2025 | $504.8M | +190% |
| Q3 2025 | $199.8M | +45% |
| Q2 2025 | $207.1M | +51% |
| Q1 2025 | $231M | +49% |
| Q4 2024 | $174.3M | -7.2% |
BKV's revenue is recovering but still below its 2021 peak: $390M last quarter, up 95% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | -24 points |
| Q2 2026 | 38% | -24 points |
| Q1 2026 | 23% | +63 points |
| Q4 2025 | 37% | +69 points |
| Q3 2025 | 41% | +56 points |
| Q2 2025 | 62% | +93 points |
| Q1 2025 | -41% | -18 points |
| Q4 2024 | -32% | -62 points |
BKV's operating margin was 17% last quarter, down 24 points from the same quarter a year ago.
BKV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $83M | +$209.9M |
| Q1 2026 | -$34.5M | -253% |
| Q4 2025 | $10.9M | -75% |
| Q1 2025 | $22.6M | +$23.2M |
| Q4 2024 | $43.8M | +$62.8M |
| Q2 2024 | -$21.2M | -180% |
| Q1 2024 | -$610K | +$75.3M |
| Q4 2023 | -$19M | -$13.8M |
BKV's free cash flow has turned positive after three years mostly in the red: $82M over the past year.
BKV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -390K shares |
| 1 year | +29% | +24.4M shares |
| 3 years | +30% | +25.3M shares |
| 5 years | +30% | +25.3M shares |
BKV has 109M diluted shares, up 29% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | $2.1M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | $424,000 |
| Q3 2023 | $75,000 |
| Q2 2023 | $349,000 |
| Q1 2023 | — |
| Q4 2022 | — |
BKV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.8x | Healthy |
| Q2 2024 | 1.6x | Healthy |
| Q1 2024 | 1.8x | Healthy |
| Q4 2023 | 1.2x | Healthy |
BKV's net debt is about 2.0 years of its operating earnings (EBITDA), up from 1.8 years a year ago.
BKV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.6 | Neutral |
| Stochastic | 10.4 | Oversold |
BKV's weekly RSI is 39 (neutral) and its Stochastic is 10 (oversold).
BKV PE vs Energy Sector
| Metric | BKV | Sector median | Relative |
|---|---|---|---|
| PE | 8.7x | 13x | 34% below |
| PE % | 46 | 35 | 11 pts above |
BKV is trading at 8.7x earnings, a 34% discount to the Energy sector's median of 13x.
BKV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.1 | 8.6% below |
| 20 week MA | $23.5 | 18% below |
| 50 week MA | $26.4 | 27% below |
| 100 week MA | $24.3 | 21% below |
BKV is in a downtrend: it's below all four of its weekly moving averages, and 21% below its 100-week average.
BKV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $18.1 | $22.5 | +25% |
| 2025 | $22.5 | $27.3 | +21% |
| 2026 YTD | $27.3 | $19.3 | -29% |
BKV has finished every year since 2024 higher, and it's down 29% so far in 2026.