BKV Corporation (BKV) vs Northern Oil and Gas, Inc. (NOG)

BKV Corporation and Northern Oil and Gas, Inc. are both Oil & Gas E&P companies. Northern Oil and Gas, Inc. is the larger, with a market value of $2.7B against $2.4B — 1.1× the size. Northern Oil and Gas, Inc. has negative trailing earnings, so its P/E is not meaningful; BKV Corporation trades at 8.3×. BKV Corporation grew revenue faster over the last twelve months: 29.7% against −25.6%. BKV Corporation has the higher net margin (15.2% vs −25.4%) and the higher return on invested capital (8.14% vs −6.22%). Across the 18 metrics below, BKV Corporation leads on 15 and Northern Oil and Gas, Inc. on 3.

Valuation

Metric BKV NOG Oil & Gas E&P median
P/E 8.31 n/m 11.01
P/S 1.40 1.50 1.98
P/B 1.06 1.44 1.30
Price to free cash flow n/m n/m 10.68
EV/EBITDA 5.45 16.45 5.09
EV/Sales 2.00 2.91 2.63
Earnings yield 12.04% (18.89%) 5.78%
Free cash flow yield (22.08%) (10.23%) 4.91%

Profitability

Metric BKV NOG Oil & Gas E&P median
Gross margin 57.77% 66.68% 80.41%
Operating margin 25.08% (24.10%) 21.39%
Net margin 15.23% (25.35%) 14.17%
Free cash flow margin (30.86%) (15.34%) 8.18%
Return on equity 13.80% (22.05%) 10.05%
Return on assets 8.36% (8.43%) 5.81%
Return on invested capital 8.14% (6.22%) 6.32%

Growth

Metric BKV NOG Oil & Gas E&P median
Revenue growth (TTM) 29.65% (25.62%) 9.94%
EPS growth (last fiscal year) 199.00% (92.41%) (10.50%)
Revenue growth, 5-year CAGR — 35.00% 18.67%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BKV NOG Oil & Gas E&P median
Debt to equity 0.53 1.37 0.28
Current ratio 1.15 0.80 0.96
Net debt to EBITDA 1.74 2.07 0.89

Dividend

Metric BKV NOG Oil & Gas E&P median
Dividend yield — 6.63% 3.29%
Payout ratio — — 0.35

Size

Metric BKV NOG Oil & Gas E&P median
Market cap 2.44b 2.74b 1.04b

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