BKV Corporation (BKV) vs Kimbell Royalty (KRP)

BKV Corporation and Kimbell Royalty are both Oil & Gas E&P companies. BKV Corporation is the larger, with a market value of $2.4B against $2.1B — 1.2× the size. BKV Corporation trades at the lower P/E: 8.3× against 19.4×. BKV Corporation grew revenue faster over the last twelve months: 29.7% against 6.17%. Kimbell Royalty has the higher net margin (23.0% vs 15.2%) and the lower return on invested capital (7.76% vs 8.14%). Across the 19 metrics below, BKV Corporation leads on 11 and Kimbell Royalty on 8.

Valuation

Metric BKV KRP Oil & Gas E&P median
P/E 8.31 19.38 11.01
P/S 1.40 4.60 1.98
P/B 1.06 2.34 1.30
Price to free cash flow n/m 8.12 10.68
EV/EBITDA 5.45 7.64 5.09
EV/Sales 2.00 5.87 2.63
Earnings yield 12.04% 5.16% 5.78%
Free cash flow yield (22.08%) 12.32% 4.91%

Profitability

Metric BKV KRP Oil & Gas E&P median
Gross margin 57.77% 100.00% 80.41%
Operating margin 25.08% 40.15% 21.39%
Net margin 15.23% 23.03% 14.17%
Free cash flow margin (30.86%) 56.63% 8.18%
Return on equity 13.80% 11.97% 10.05%
Return on assets 8.36% 6.02% 5.81%
Return on invested capital 8.14% 7.76% 6.32%

Growth

Metric BKV KRP Oil & Gas E&P median
Revenue growth (TTM) 29.65% 6.17% 9.94%
EPS growth (last fiscal year) 199.00% 616.67% (10.50%)
Revenue growth, 5-year CAGR — 29.84% 18.67%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BKV KRP Oil & Gas E&P median
Debt to equity 0.53 0.72 0.28
Current ratio 1.15 7.30 0.96
Net debt to EBITDA 1.74 1.53 0.89

Dividend

Metric BKV KRP Oil & Gas E&P median
Dividend yield — 9.83% 3.29%
Payout ratio — 1.90 0.35

Size

Metric BKV KRP Oil & Gas E&P median
Market cap 2.44b 2.05b 1.04b

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