your badges 52W Range $20–$33 12% of range Analyst Rating BUY 15 analysts Price Target $34 +58% upside P/E 7.6 ROE 14.1% Net Profit Margin 23.7%

BKV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $21.57
Market Cap (MRQ) $2.36B
P/E (TTM) 7.6
EPS (TTM) $2.84
Revenue (TTM) $1.15B
ROE (TTM) 14.1%
Debt/Equity (MRQ) 0.6
52W Range $20–$33

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$894M
2022-12-31 → 2025-12-31
EPS$2.05
2022-12-31 → 2025-12-31
Free Cash Flow$-25M
2025-12-31 → 2025-12-31
Net margin23.7%
2024-12-31 → 2024-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend BKV 5Y avg Peer Median Verdict
P/E (TTM) 7.6 · 11.7 Undervalued
P/S (TTM) 2.0 · 1.5 Overvalued
P/B (MRQ) 1.0 · 1.2 Overvalued
EV / EBITDA 6.9 · · ·
Price / FCF (TTM) -18.5 · · ·
Price / Cash Flow (TTM) 6.5 · 3.4 Overvalued
EV / Revenue 3.8 · · ·
EV / FCF -139.0 · · ·
Price / Tangible Book 1.2 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 69.3%
Next Report Nov 09, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 10, 2026 $0.46 $0.28 61.7%
March 31, 2026 $0.22 $0.52 -57.7%
Dec. 31, 2025 $0.29 $0.31 -6.5%
Sept. 30, 2025 $0.50 $0.27 87.0%
June 30, 2025 $0.39 $0.15 166.0%
March 31, 2025 $0.41 $0.15 165.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 13
Metric Trend 202520242023
Revenue $894M$1.04B$1.30B
SG&A Expense $132M$110M$134M
Operating Expenses $1.23B$1.10B$1.06B
Operating Income $304M$-64M$241M
Interest Income $4M$7M$5M
Pretax Income $225M$-176M$162M
Income Tax $37M$-42M$30M
Net Income $179M$-139M$124M
EPS (Basic) $2.05$-1.94$2.03
EPS (Diluted) $2.05$-1.94$1.92
Shares (Basic) 86,581,00071,288,00060,730,000
Shares (Diluted) 86,823,00071,288,00064,380,000
EBITDA $501M$63M·
Balance Sheet 23
Metric Trend 202520242023
Cash & Equivalents $248M$81M$105M
Inventory $20M$20M$10M
Prepaid Expense $15M$8M$4M
Other Current Assets $8M$7M$218.0K
Current Assets $511M$235M$312M
Goodwill $18M$18M$18M
Other Non-current Assets $17M$13M$20M
Total Assets $3.94B$3.10B$2.68B
Accounts Payable $100M$75M$48M
Short-term Debt $191M··
Current Liabilities $565M$237M$412M
Deferred Tax $129M$93M$144M
Other Non-current Liabilities $5M$5M$12M
Total Liabilities $1.87B$1.55B$1.21B
Long-term Debt $1.14B$859M$579M
Total Debt $1.33B··
Common Stock $2M$2M$1M
Paid-in Capital $1.68B$1.37B$1.03B
Retained Earnings $309M$131M$260M
Treasury Stock $7M$7M$5M
Stockholders' Equity $1.99B$1.50B$1.29B
Liabilities + Equity $3.94B$3.10B$2.68B
Shares Outstanding 96,872,00084,600,00063,873,000
Cash Flow 14
Metric Trend 202520242023
D&A $197M$256M$256M
Stock-based Comp $13M$16M$26M
Deferred Tax $38M$-44M$34M
Amort. of Intangibles $600.0K$600.0K$300.0K
Other Non-cash $-147M$72M·
Operating Cash Flow $280M$115M$260M
CapEx $305M$105M$202M
Investing Cash Flow $-576M$34M$-663M
Stock Issued $171M$0$150M
Stock Repurchased ·$0$600.0K
Net Stock Activity $171M$0·
Financing Cash Flow $463M$-315M$498M
Taxes Paid $232.0K$6.0K$2M
Free Cash Flow $-25M··
Profitability 7
Metric Trend 202520242023
Operating Margin ·-25.6%·
Net Margin ·-23.6%·
Pretax Margin ·-30.9%·
EBITDA Margin ·10.4%·
ROA 5.0%-5.8%·
ROE 10.3%-10.4%·
ROIC 7.7%-7.6%·
Liquidity & Solvency 4
Metric Trend 202520242023
Current Ratio 0.90.6·
Quick Ratio 0.40.1·
Debt / Equity 0.7··
LT Debt / Equity 0.5··
Efficiency 1
Metric Trend 202520242023
Asset Turnover ·0.2·
Per Share 5
Metric Trend 202520242023
Book Value / Share $20.50$18.43·
Revenue / Share ·$8.48·
Cash Flow / Share $3.23$1.66·
Cash / Share $2.56$0.18·
EPS (TTM) $2.05$-2.00·
Growth Rates 6
Metric Trend 202520242023
Revenue YoY 47.9%-20.4%-21.5%
Revenue CAGR 3Y -18.6%··
EPS YoY ··-71.0%
EPS CAGR 3Y -32.4%··
Net Income YoY ··-69.9%
Net Income CAGR 3Y -24.1%··
Valuation (TTM) 14
Metric Trend 202520242023
Revenue TTM $894M$605M·
Net Income TTM $179M$-143M·
Market Cap $2.63B$2.01B·
Enterprise Value $3.71B··
P/E 13.2-11.9·
P/S 2.93.3·
P/B 1.31.3·
P / Tangible Book 1.31.3·
P / Cash Flow 9.417.0·
P / FCF -106.3··
EV / EBITDA 7.4··
EV / FCF -150.0··
EV / Revenue 4.2··
Earnings Yield 7.5%-8.4%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312025-06-302025-03-312024-12-312023-12-31
Revenue $894M · · $1.04B $1.30B
Operating Margin % · · · -25.6% ·
Net Income $179M · · $-139M $124M
Diluted EPS $2.05 · · $-1.94 $1.92

Institutional owners (13F) 171 filers · $1.4B total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 171
Value held $1.4B
New positions 38
Exited positions 40
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
38 (-11 vs prior Q) 40 (+16 vs prior Q) 78 (+12 vs prior Q) 30 (-3 vs prior Q) +6.8M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Mountain Capital Management, LLC $142,101,933 5,233,957 10.17% Shares
DME Capital Management, LP $84,683,933 3,095,173 6.06% Shares
Yaupon Capital Management LP $75,752,152 2,768,719 5.42% Shares
BlackRock, Inc. $74,240,730 2,713,477 5.31% Shares
Boston Partners $69,810,910 2,552,101 5.00% Shares
GOLDMAN SACHS GROUP INC $53,603,356 1,959,187 3.84% Shares
FMR LLC $50,452,743 1,844,033 3.61% Shares
CITADEL ADVISORS LLC $49,274,211 1,800,958 3.53% Shares
STATE STREET CORP $48,236,473 1,763,029 3.45% Shares
VANGUARD CAPITAL MANAGEMENT LLC $46,026,141 1,682,242 3.29% Shares
Merewether Investment Management, LP $45,792,295 1,673,695 3.28% Shares
Zimmer Partners, LP $45,777,849 1,673,167 3.28% Shares
VANGUARD GROUP INC $42,619,881 1,569,793 3.05% Shares
Covalis Capital LLP $38,691,910 1,414,178 2.77% Shares
Aventail Capital Group, LP $36,766,094 1,343,790 2.63% Shares
DIMENSIONAL FUND ADVISORS LP $35,715,286 1,305,648 2.56% Shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC $32,689,454 1,194,790 2.34% Shares
TOMS Capital Investment Management LP $27,360,000 1,000,000 1.96% Call option
HITE Hedge Asset Management LLC $24,775,602 905,541 1.77% Shares
GEODE CAPITAL MANAGEMENT, LLC $23,900,210 873,304 1.71% Shares
AMERICAN CENTURY COMPANIES INC $19,280,783 704,707 1.38% Shares
Value Aligned Research Advisors, LLC $18,602,037 679,899 1.33% Shares
BANK OF AMERICA CORP /DE/ $16,177,476 591,282 1.16% Shares
GeoSphere Capital Management, LLC $15,915,011 581,689 1.14% Shares
Bank of New York Mellon Corp $15,261,026 557,786 1.09% Shares
FIRST TRUST ADVISORS LP $15,249,260 557,356 1.09% Shares
Russell Investments Group, Ltd. $14,873,157 543,609 1.06% Shares
UBS Group AG $14,243,425 520,593 1.02% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $11,931,997 436,111 0.85% Shares
Corigliano Investment Advisers, LLC $11,781,127 413,083 0.84% Shares
SummitTX Capital, L.P. $10,241,423 374,321 0.73% Shares
NORTHERN TRUST CORP $9,086,010 332,091 0.65% Shares
FRANKLIN RESOURCES INC $8,879,387 324,539 0.64% Shares
MORGAN STANLEY $8,384,581 306,454 0.60% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $8,284,116 302,782 0.59% Shares
Squarepoint Ops LLC $8,247,973 301,461 0.59% Shares
Ghisallo Capital Management LLC $8,208,000 300,000 0.59% Shares
Vennlight Capital Management, LP $8,026,932 293,382 0.57% Shares
PEREGRINE CAPITAL MANAGEMENT LLC $7,235,817 264,467 0.52% Shares
VANGUARD FIDUCIARY TRUST CO $7,089,988 259,137 0.51% Shares
SAPIENT CAPITAL LLC $6,195,426 226,441 0.44% Shares
Walleye Capital LLC $5,581,467 204,001 0.40% Shares
Burkehill Global Management, LP $5,472,000 200,000 0.39% Shares
PRELUDE CAPITAL MANAGEMENT, LLC $4,674,429 170,849 0.33% Shares
WEXFORD CAPITAL LP $4,610,844 168,525 0.33% Shares
Hudson Bay Capital Management LP $4,485,973 163,961 0.32% Shares
TWO SIGMA INVESTMENTS, LP $4,216,969 154,129 0.30% Shares
CenterBook Partners LP $3,869,060 141,413 0.28% Shares
Oxbow Advisors, LLC $3,700,659 135,258 0.26% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $3,498,605 127,873 0.25% Shares

Show all 171 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Banpu Public Company Limited, BOG Co., Ltd., Banpu North America Corporation, Banpu Power Public Company Limited, Banpu Power US Corporation Feb. 6, 2026 67.65% Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 24 insiders · 17 officers · 8 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Christopher P Kalnin Chief Executive Officer June 30, 2026 A 1,198,072 0 5 $-11,138,131
David Tameron Chief Financial Officer Aug. 20, 2026 S 58,524 0 3 $-370,094
John T Jimenez Chief Financial Officer Jan. 2, 2025 F 269,487 0 0 $0
Eric S Jacobsen President, Upstream June 1, 2026 S 227,843 0 2 $-1,446,250
Javier Hinojosa Senior Vice President of Power Sept. 25, 2026 S 76,848 0 2 $-486,778
Lindsay B Larrick Chief Legal and Admin Officer Aug. 14, 2026 S 83,925 0 4 $-1,224,975
Dilanka Seimon Chief Commercial Officer June 30, 2026 A 56,013 0 0 $0
Ethan Ngo Chf Corporate Dev Officer June 30, 2026 A 123,717 0 0 $0
Barry S. Turcotte Chief Accounting Officer June 30, 2026 A 22,663 0 0 $0
Kristen Lee Busang SVP, Human Resources March 10, 2026 A 18,798 0 0 $0
Lauren Read SVP, dCarbon Ventures March 10, 2026 A 89,099 0 0 $0
Mary Rita Valois Chief Information Officer March 3, 2025 A 30,293 0 0 $0
Samid Hoda VP Data and Innovation Jan. 2, 2025 F 51,231 0 0 $0
Matthew James Johnson Mng Dir, BKV dCarbon Ventures Jan. 2, 2025 F 203,910 0 0 $0
Simon Bowman Senior Director Midstream Jan. 2, 2025 F 3,030 0 0 $0
Travis Lauer Vice President of Operations Jan. 2, 2025 F 10,583 0 0 $0
Bradley A Birkelo Senior VP, Subsurface Jan. 2, 2025 F 133,342 0 0 $0
Kirana Limpaphayom Director June 11, 2026 A 7,128 0 0 $0
Joseph R Davis Director June 11, 2026 A 45,889 0 0 $0
Carla S Mashinski Director June 11, 2026 A 12,889 0 0 $0
Sunit S Patel Director June 11, 2026 A 62,889 0 0 $0
Charles C Miller III Director June 11, 2026 A 12,889 0 0 $0
Anon Sirisaengtaksin Director Sept. 27, 2024 P 5,000 0 0 $0
Akaraphong Dayananda Director Sept. 27, 2024 P 500 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 41 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
FYT · First Trust Exchange-Traded AlphaDE… 0.55% 43,678 NS July 31, 2026 N-PORT
GUSH · Direxion Shares ETF Trust 0.54% 54,412 NS July 31, 2026 N-PORT
FYX · First Trust Exchange-Traded AlphaDE… 0.28% 159,418 NS July 31, 2026 N-PORT
CCNR · Financial Investors Trust 0.20% 34,151 NS July 31, 2026 N-PORT
IEO · iShares Trust 0.14% 41,317 SH Sept. 11, 2026 Daily
USAI · Pacer Funds Trust 0.13% 6,975 NS July 31, 2026 N-PORT
FAB · First Trust Exchange-Traded AlphaDE… 0.11% 7,554 NS July 31, 2026 N-PORT
DFSV · Dimensional ETF Trust 0.05% 181,232 NS July 31, 2026 N-PORT
VDE · VANGUARD WORLD FUND 0.05% 213,620 SH Aug. 19, 2026 Daily
ESML · iShares Trust 0.05% 55,514 SH Sept. 11, 2026 Daily
FENY · FIDELITY COVINGTON TRUST 0.04% 36,239 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.04% 271,009 NS July 31, 2026 N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS 0.04% 26,050 SH Aug. 19, 2026 Daily
IWO · iShares Trust 0.04% 228,736 SH Sept. 11, 2026 Daily
BKSE · BNY Mellon ETF Trust 0.03% 1,167 NS July 31, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.03% 186,626 SH Aug. 19, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.03% 34,447 SH Oct. 1, 2026 Daily
IWM · iShares Trust 0.03% 821,356 SH Sept. 11, 2026 Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.03% 7,275 NS July 31, 2026 N-PORT
RSSL · Global X Funds 0.03% 15,514 NS July 31, 2026 N-PORT
IGE · iShares Trust 0.02% 7,232 SH Sept. 11, 2026 Daily
DFAT · Dimensional ETF Trust 0.02% 112,811 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.01% 428,279 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 7,110 SH Aug. 19, 2026 Daily
OMFS · Invesco Exchange-Traded Self-Indexe… 0.01% 930 SH Oct. 1, 2026 Daily
WSML · iShares Trust 0.01% 1,629 SH Sept. 11, 2026 Daily
DXUV · Dimensional ETF Trust 0.01% 1,298 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.00% 94,253 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 19,663 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.00% 4,660 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.00% 2,718 NS July 31, 2026 N-PORT
DFUS · Dimensional ETF Trust 0.00% 14,222 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 56,787 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 6,381 SH Sept. 3, 2026 Daily
DFUV · Dimensional ETF Trust 0.00% 2,276 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 1,217,138 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 2,705 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 75,652 SH Sept. 11, 2026 Daily
SVAL · iShares Trust · 19,263 SH Sept. 3, 2026 Daily
ISCB · iShares Trust · 1,185 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 6,348 SH Sept. 11, 2026 Daily

BKV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 15 analysts BUY
Median target $35.00 +62.3%
5 33.3% Strong Buy
9 60.0% Buy
1 6.7% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

11 analysts · 2026-09-29

Mean target $34.00 +57.6%

← Below all targets Current price $21.57
Low$28.00 Mean$34.00 High$39.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
BKV $2.63B 13.2 47.9% · 10.3% ·
BSM · · 8.3% 63.8% · ·
TALO $1.86B -3.9 -9.8% -27.8% -21.1% ·
GPOR $3.91B 9.7 48.5% 30.1% 23.8% ·
NOG $2.09B 55.1 11.2% 1.6% 1.7% ·
KRP · · 7.9% 29.8% · ·
MNR · 10.1 21.2% 12.2% · ·
KOS · -0.6 -23.1% -54.3% -90.5% ·
PBT · · · · · ·
DMLP · · -5.4% 37.5% · ·
COP · 14.7 7.7% 13.6% 12.3% ·

Latest News Recent headlines mentioning this company

23
BKV's Insider Sale Was Pre-Planned. The Catalysts to Watch Aren't Nasdaq · 4 months, 3 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-K/A filed Aug 19, 2026