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 $2.5B against $1.9B — 1.3× the size. BKV Corporation trades at the lower P/E: 7.9× against 17.3×. 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 7.90 17.35 10.57
P/S 1.33 4.11 1.80
P/B 1.01 2.10 1.27
Price to free cash flow n/m 7.26 9.99
EV/EBITDA 5.27 7.01 5.08
EV/Sales 1.93 5.39 2.39
Earnings yield 12.65% 5.77% 6.06%
Free cash flow yield (23.21%) 13.77% 6.17%

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% 9.71%
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% —
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 0.91

Dividend

Metric BKV KRP Oil & Gas E&P median
Dividend yield — 11.33% 4.93%
Payout ratio — 1.03 0.07

Size

Metric BKV KRP Oil & Gas E&P median
Market cap 2.53b 1.90b 923.59m

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