KEEL
Keel Infrastructure Corp.
KEEL lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to grow, though they disagree widely on how much.
KEEL Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Under pressure | |
| Strong |
KEEL's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
KEEL PE Valuation
KEEL has no meaningful PE right now: it lost money over the past year.
KEEL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong decline | |
| -- | |
| Limited | |
| Low |
Analysts expect KEEL's losses to grow, with revenue declining. However, they disagree widely on these estimates.
KEEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.71 | -$0.48 |
| Q2 2026 | -$0.75 | -$0.58 |
| Q1 2026 | -$0.69 | -$0.50 |
| Q4 2025 | -$0.52 | -$0.39 |
| Q3 2025 | -$0.23 | +$0.12 |
| Q2 2025 | -$0.17 | +$0.16 |
| Q1 2025 | -$0.19 | +$0.18 |
| Q4 2024 | -$0.13 | +$0.23 |
KEEL is still losing money, but less than at its worst: $0.71 per share over the past year, against $1.19 at its worst in early 2023.
KEEL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $27.6M | -60% |
| Q2 2026 | $30.4M | -61% |
| Q1 2026 | $37M | -45% |
| Q4 2025 | $15.4M | -73% |
| Q3 2025 | $69.2M | +54% |
| Q2 2025 | $77.8M | +87% |
| Q1 2025 | $66.8M | +33% |
| Q4 2024 | $56.2M | +21% |
KEEL's revenue has slid since its 2025 peak: $28M last quarter, down 60% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -28% | +14 points |
| Q2 2026 | -463% | -412 points |
| Q1 2026 | -266% | -218 points |
| Q4 2025 | -316% | -287 points |
| Q3 2025 | -42% | +56 points |
| Q2 2025 | -51% | +5.8 points |
| Q1 2025 | -48% | -1.3 points |
| Q4 2024 | -29% | -1.6 points |
KEEL's operating margin was −28% last quarter, up 14 points from the same quarter a year ago.
KEEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$56.7M | +$12.5M |
| Q2 2026 | -$96M | -$2.5M |
| Q1 2026 | -$75M | -$8.6M |
| Q4 2025 | -$117.9M | +$111.4M |
| Q3 2025 | -$69.2M | +$55.7M |
| Q2 2025 | -$93.5M | -$27M |
| Q1 2025 | -$66.4M | +$42.8M |
| Q4 2024 | -$229.3M | -$218.7M |
KEEL has burned cash in most quarters: −$346M over the past year, against −$458M the year before.
KEEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2% | +11.9M shares |
| 1 year | +11% | +60.7M shares |
| 3 years | +125% | +343M shares |
| 5 years | +249% | +440M shares |
| Available history | +769% | +546M shares |
KEEL has 617M diluted shares, up 11% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $2,000 |
| Q3 2025 | $10M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
KEEL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2025 | -4.6x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.7x | Net Cash |
| Q3 2024 | -3.0x | Net Cash |
| Q2 2024 | -4.1x | Net Cash |
| Q1 2024 | -34.7x | Net Cash |
| Q3 2023 | -0.7x | Net Cash |
| Q1 2022 | 0.8x | Very low |
KEEL has more cash than debt.
KEEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.6 | Neutral |
| Stochastic | 8.2 | Oversold |
KEEL's weekly RSI is 35 (neutral) and its Stochastic is 8 (oversold).
KEEL PE vs Technology Sector
| Metric | KEEL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
KEEL has no meaningful PE right now: it lost money over the past year.
KEEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.60 | 25% below |
| 20 week MA | $3.36 | 42% below |
| 50 week MA | $3.27 | 40% below |
| 100 week MA | $2.49 | 22% below |
| 200 week MA | $2.15 | 9.3% below |
KEEL is in a downtrend: it's below all five of its weekly moving averages, and 9.3% below its 200-week average.
KEEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.35 | $1.65 | +371% |
| 2021 | $1.65 | $5.80 | +252% |
| 2022 | $5.80 | $0.41 | -93% |
| 2023 | $0.41 | $2.91 | +610% |
| 2024 | $2.91 | $1.63 | -44% |
| 2025 | $1.63 | $2.48 | +52% |
| 2026 YTD | $2.48 | $1.95 | -21% |
KEEL's yearly returns have swung widely, from +610% in 2023 to −93% in 2022. It's down 21% so far in 2026.