BKV (BKV) Cash Flow: Operating & Free Cash Flow

BKV Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for BKV Corporation (BKV) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	173.13	-142.87	116.92	410.14	-134.46	-43.35
Depreciation & Amortization	158.95	217.89	224.43	130.04	0.00	0.00
Deferred Income Tax	36.44	-43.64	34.29	89.07	-72.75	37.75
Stock Based Compensation	12.85	16.32	25.76	31.95	30.39	0.00
Change in Working Capital	12.76	-54.01	-18.44	-22.82	126.86	-74.54
Change in Accounts Receivable	-31.65	-19.46	86.33	-36.31	-28.19	-44.48
Change in Inventory	0.00	0.00	0.00	-6.59	-2.10	-0.10
Change in Accounts Payable	46.72	-32.17	-98.24	62.54	123.74	-25.22
Change in Other Working Capital	-2.31	-2.38	-6.53	-49.04	195.02	-4.74
Other Operating Activities	-151.41	81.21	-225.59	-200.12	195.02	72.73
Net Cash from Operating Activities	242.71	115.41	260.27	349.19	358.13	-7.41
Investing Activities
Capital Expenditures	-300.17	-105.36	-681.77	-248.10	-68.71	-514.30
Acquisitions	0.00	132.57	0.00	-619.44	-88.41	0.31
Other Investing Activities	-264.74	-0.65	3.20	1.97	-4.74	0.00
Net Cash from Investing Activities	-564.90	34.27	-663.11	-865.57	-161.86	-513.99
Financing Activities
Debt Repayment	319.13	-702.00	-469.50	-266.00	-24.00	24.00
Common Stock Issued	170.64	265.66	150.01	0.08	0.00	323.80
Common Stock Repurchased	0.00	-53.24	-2.96	-1.18	-122.38	0.00
Dividends Paid	0.00	0.00	0.00	0.00	-98.46	0.00
Other Financing Activities	16.97	-77.47	-27.08	-34.24	0.42	94.92
Net Cash from Financing Activities	506.74	-314.81	498.49	534.83	-79.05	442.72
Summary
Net Change in Cash	184.54	-165.13	95.65	18.46	117.22	-78.67
Cash at Beginning of Period	14.87	262.13	166.48	134.67	17.45	96.12
Cash at End of Period	199.41	97.00	262.13	153.13	134.67	17.45
Free Cash Flow	-57.46	10.05	-421.51	101.10	289.42	-521.71
Supplemental Disclosures
Interest Paid	-	60.49	68.48	32.09	0.39	1.52
Income Taxes Paid	-	0.01	1.55	0.40	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About BKV Cash Flow

What is BKV's free cash flow?

BKV had negative free cash flow of $57.46M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $242.71M minus $300.17M of capital expenditures.

How much does BKV spend on capital expenditures?

BKV spent $300.17M on capital expenditures in fiscal 2025, compared with $105.36M a year earlier. That equals 123.7% of operating cash flow.

Does BKV pay dividends or buy back shares?

BKV's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition