Filing Flows › Energy › BKV (BKV)
BKV (BKV) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · BKV (BKV) Q3 2026 earnings results →
Q3 2026 Revenue up 37% year over year to $390M · 8¢ of every $1 of revenue kept as net profit · operating margin 17.2%
BKV made $390M in Q3 2026 (+37% Y/Y): Natural gas, NGL, and oil sales $238M, Power $87.4M, Marketing revenues $65.1M. Operating margin 17.2%, net earnings $29.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $390.3M in Q3 2026, up 37% year over year and up 21% from the previous quarter. Power revenues was the largest line at 22% of revenue. Marketing revenues added $58.2M year over year (up 846%), 55% of the total change. Merchant energy sales and other declined 21%.
Operating profit was $67.2M, a 17.2% margin (down 31.7 points year over year). Operating profit fell $71.9M even though revenue rose $106.0M versus Q3 2025, so costs grew faster than sales. Total costs grew 123% against revenue growth of 37%. The fastest-growing cost line was Other operating costs (+145%). Net earnings were $29.4M, down 65% year over year. The effective tax rate was 7.3%.
Operating cash flow was $164.5M (up 51% year over year), 428% of net income including minority interests. Non-cash charges added back $52.3M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items added $69.0M. Capital expenditures of $81.5M left free cash flow of $83.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $390M | +37% | 17.2% | $29.4M | $164M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $322M | +20% | 37.7% | $75.8M | $110M |
| Q1 2026 | 10-Q | May 7, 2026 | $377M | +38% | 22.8% | $44.1M | $72.0M |
| Q4 2025 | 10-K | Mar 6, 2026 | $505M | +31% | 37.0% | $76.4M | $107M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $200M | +50% | 41.2% | $76.8M | $74.5M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $207M | +55% | 62.0% | $108M | $76.2M |
| Q1 2025 | 10-Q | May 9, 2025 | $231M | +48% | -40.6% | −$86.8M | $22.6M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About BKV
BKV Corporation (“BKV,” the “Company,” “our,” “we,” and “us”) is a forward-thinking, growth-driven energy company focused on creating long-term risk-adjusted stockholder value through the development of natural gas producing assets, the ownership and operation of natural gas-fired power generation assets, and selective accretive acquisitions. Our core businesses are the production of natural gas and the generation of natural gas-fired power from our owned and operated assets, supported by a closed-loop strategy enabled by our upstream, midstream, power, and CCUS businesses.
In its own words, from its 10-K, filed Mar 6, 2026.
BKV against its Crude Petroleum & Natural Gas peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +37% against the peers' median +46%. Operating margin: 17.2% against the peers' median 19.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| BKV BKV | Q3 2026 | $390M | +37% | 17.2% |
| EOG EOG Resources | Q3 2026 | $8.5B | +46% | 41.9% |
| OXY Occidental Petroleum | Q2 2026 | $8.1B | +53% | 48.5% |
| DVN Devon Energy | Q3 2026 | $6.9B | +58% | 18.3% |
| FANG Diamondback Energy | Q3 2026 | $5.4B | +38% | 46.0% |
| EXE Expand Energy | Q3 2026 | $3.3B | +11% | 19.5% |
| PARR PAR Pacific Holdings | Q3 2026 | $3.1B | +52% | 15.5% |
| OVV Ovintiv | Q3 2026 | $2.6B | +26% | 33.7% |
| SM SM Energy | Q3 2026 | $2.2B | +167% | 10.9% |
Source: BKV 10-Q on SEC EDGAR · CIK 1838406 · Crude Petroleum & Natural Gas
Guidance and outlook
13F: who owns BKV and who is buying
More on BKV
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results