BKV Corporation (BKV) vs Greenfire Resources Ltd. (GFR)

BKV Corporation and Greenfire Resources Ltd. are both Oil & Gas E&P companies. BKV Corporation is the larger, with a market value of $2.0B against $1.3B — 1.5× the size. Greenfire Resources Ltd. has negative trailing earnings, so its P/E is not meaningful; BKV Corporation trades at 6.4×. BKV Corporation grew revenue faster over the last twelve months: 29.7% against −16.5%. BKV Corporation has the higher net margin (14.9% vs −6.42%) and the higher return on invested capital (8.14% vs 0.48%). Across the 18 metrics below, BKV Corporation leads on 13 and Greenfire Resources Ltd. on 5.

Valuation

Metric BKV GFR Oil & Gas E&P median
P/E 6.36 n/m 9.65
P/S 1.07 1.67 1.73
P/B 0.81 0.85 1.23
Price to free cash flow n/m n/m 9.34
EV/EBITDA 4.56 11.19 4.58
EV/Sales 1.67 1.73 2.27
Earnings yield 15.72% (4.99%) 7.67%
Free cash flow yield (30.79%) (6.17%) 4.40%

Profitability

Metric BKV GFR Oil & Gas E&P median
Gross margin 57.77% 91.87% 80.16%
Operating margin 25.08% 1.54% 24.33%
Net margin 14.85% (6.42%) 14.15%
Free cash flow margin (32.96%) (10.30%) 10.07%
Return on equity 13.46% (3.69%) 9.41%
Return on assets 8.15% (2.89%) 5.35%
Return on invested capital 8.14% 0.48% 6.33%

Growth

Metric BKV GFR Oil & Gas E&P median
Revenue growth (TTM) 29.65% (16.46%) 13.60%
EPS growth (last fiscal year) 199.00% (62.10%) (10.17%)
Revenue growth, 5-year CAGR — — 18.67%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric BKV GFR Oil & Gas E&P median
Debt to equity 0.53 0.03 0.29
Current ratio 1.15 0.96 0.90
Net debt to EBITDA 1.74 (0.21) 0.93

Dividend

Metric BKV GFR Oil & Gas E&P median
Dividend yield — — 3.80%
Payout ratio — — 0.33

Size

Metric BKV GFR Oil & Gas E&P median
Market cap 1.98b 1.32b 895.85m

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