# BKV (BKV.US)

Canonical: https://gigainvestors.com/s/BKV

Analysis as of: 2026-10-16T07:26:58.266Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $22.30 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [David Einhorn](https://gigainvestors.com/GLRE): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 29% since Apr 2026 · "Assessing BKV (BKV) Valuation After Lowered EPS Forecasts And Softer Energy Sector Support" (finance.yahoo.com, Apr 2026)

Story as of 2026-10-16T09:58:24.512Z; price observation 2026-10-15.

- 2025-08-12: BKV raises 2025 production guidance to 800 MMcfe/d as Bedrock acquisition expands Barnett footprint ([seekingalpha.com](https://seekingalpha.com/news/4484097-bkv-raises-2025-production-guidance-to-800-mmcfe-d-as-bedrock-acquisition-expands-barnett?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in oil & gas e&p; annual sales are USD 895.6 million.

- Source: https://www.sec.gov/Archives/edgar/data/1838406/000162828026015661/bkv-20251231.htm (filed 2026-03-06); FY2025: revenue 895645000; grossProfit 283697000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BKV.US: BKV Corporation produces and sells natural gas in the Barnett Shale in the Fort Worth Basin of Texas and in the Marcellus Shale in the Appalachian Basin of Northeast Pennsylvania. It is also involved in the gathering, processing, and transportation of natural gas; power generation; and carbon capture, utilization, and sequestration activities. The company was founded in 2015 and is headquartered in Denver, Colorado. BKV Corporation operates as a subsidiary of Banpu North America Corporation.

### Why customers stay

Margins ranged from 31.7% to 69.8% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); FY2023: grossProfit / revenue = 69.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); FY2024: grossProfit / revenue = 64%.

- Source: https://www.sec.gov/Archives/edgar/data/1838406/000162828026015661/bkv-20251231.htm (filed 2026-03-06); FY2025: grossProfit / revenue = 31.7%.

### Where the cash goes

Reinvests 81.6% of cash earnings; paid dividends in 1 of 6 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); FY2022: growth capex 118059000; upkeep 130038000; cash acquisitions 619437000; owner earnings 410142000. Growth capex plus acquisitions / owner earnings = 1.79814795851193.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); FY2023: growth capex 0; upkeep 192605000; cash acquisitions 0; owner earnings 148740000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1838406/000162828026015661/bkv-20251231.htm (filed 2026-03-06); FY2025: growth capex 141213000; upkeep 158952000; cash acquisitions 0; owner earnings 173132000. Growth capex plus acquisitions / owner earnings = 0.8156377792666867.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); Dividend observations: [[2020,0],[2021,98456000],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 66.2% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BKV.US SharesStats.PercentInsiders = 66.178 percentage points; cache date 2026-10-16.

### What the price says

The price is 2.2 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-06); Closing price 22.3 USD; reporting-to-trading FX 1; FY2025 annual sales per share 10.315757345403867; price multiple 2.1617414265696793. FY2025 cash earnings/share 1.9940799097013464. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2024-09: $18.29 per share

- 2024-10: $18.04 per share

- 2024-11: $21.96 per share

- 2024-12: $23.78 per share

- 2025-01: $24.50 per share

- 2025-02: $20.19 per share

- 2025-03: $21.00 per share

- 2025-04: $18.13 per share

- 2025-05: $21.50 per share

- 2025-06: $24.12 per share

- 2025-07: $20.64 per share

- 2025-08: $23.31 per share

- 2025-09: $23.13 per share

- 2025-10: $23.59 per share

- 2025-11: $27.61 per share

- 2025-12: $27.15 per share

- 2026-01: $29.75 per share

- 2026-02: $31.33 per share

- 2026-03: $28.52 per share

- 2026-04: $31.53 per share

- 2026-05: $26.54 per share

- 2026-06: $27.36 per share

- 2026-07: $24.46 per share

- 2026-08: $24.16 per share

- 2026-09: $21.34 per share

- 2026-10: $22.30 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1838406/000162828026015661/bkv-20251231.htm); period 2025-12-31, filed 2026-03-06.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.