Keel Infrastructure Corp. (KEEL)
Financials
Specialty Finance
Methodology Breakdown
FinancialThis financial needs specialized inputs we don't fully cover yet, so we're not committing to a single fair value. The signals below are what's knowable today.
| Method | Value | Role |
|---|---|---|
| Book Value Anchor | $0.47 | COMPUTED |
| Cash Floor | $0.83 | COMPUTED |
| NAV Anchor | $0.64 | COMPUTED |
Computed — every method is shown for transparency; none was published as our estimate for this stock.
📈
Sep 05
Multiple compressed
z = -1.61
EV/EBITDA (-108.4×) is 1.61 std deviations below its 2-year average
Health Score
Health Score
15
Out of 100
Stressed
Pillar Scores
Financial Strength
24
Operating Trend
0
Valuation
Overvalued
4
Capital Allocation
7
Risk Management
49
Positives
↑
current + quick ratio
+3.0
↑
no structural flags
+1.1
Concerns
↓
operating-margin trend + inflection
-5.0
↓
FCF margin + growth
-4.0
↓
ROIC level + trend
-3.0
Signal contribution:
+4.9 from strengths
-51.3 from concerns
Health Score Trend
8 snapshots
Financials
TTM Financials
| Revenue Total sales generated from the company's primary business activities over the trailing twelve months. | 128.3M |
| Gross Profit Revenue minus cost of goods sold. What remains before operating expenses — reflects pricing power and production efficiency. | -116.9M |
| Operating Income Profit from core business operations after all operating expenses (EBIT). Excludes interest and taxes. | -228.4M |
| Net Income Bottom-line profit after all expenses, interest, and taxes are deducted from revenue. | -215.8M |
| Free Cash Flow Operating cash flow minus capital expenditures. The actual cash the business generates after maintaining its assets — the truest measure of profitability. | -366.9M |
| EBITDA Earnings before interest, taxes, depreciation & amortization. A proxy for operating cash earnings that strips out accounting and financing differences. | -22.2M |
| Total Debt Combined short-term and long-term interest-bearing debt obligations. Compare against cash and earnings to gauge leverage risk. | 1.03B |
| Cash & Equivalents Highly liquid assets on hand — cash, money market funds, and short-term securities. The company's immediate financial cushion. | 715.5M |
Valuation
| Market Cap | 2.09B |
| Enterprise Value | 2.41B |
| EV / Revenue | 18.8x |
| EV / EBITDA | -108.4x |
| P/E (TTM) | -9.7x |
| Forward P/E | — |
| PEG | — |
| P/FCF | -5.7x |
| FCF Yield | -17.6% |
EV/Sales vs history — 27% percentile
(historically cheap)
CheapMidExpensive
P/Book vs history — 55% percentile
(mid-range)
CheapMidExpensive
Relative Valuation
Negative FCF (-366.9M TTM) — using relative multiples instead of DCF
EV / Revenue
18.8x
Book Value / Share
$0.55
Price / Book
6.4x
Price / Sales
16.3x
Key Metrics
| Gross Margin Gross profit as a % of revenue. Measures how efficiently the company produces its goods or services — higher is better. | -91.1% |
| EBITDA Margin EBITDA as a % of revenue. Shows core operating profitability before accounting adjustments — useful for comparing across industries. | -17.3% |
| Net Margin Net income as a % of revenue. The ultimate measure of overall profitability after every expense, interest payment, and tax is accounted for. | -168.2% |
| FCF Margin Free cash flow as a % of revenue. Shows how much of each dollar of revenue converts into real, spendable cash. | -285.9% |
| Revenue Growth (YoY) Year-over-year change in total revenue. Measures business momentum — sustained growth above 15% is typically considered strong. | 18.2% |
| Net Income Growth (YoY) Year-over-year change in net income. Shows whether profits are growing faster or slower than revenue — a key indicator of improving or deteriorating quality. | -253.5% |
| Piotroski F-Score Score from 0–9 measuring financial strength across profitability, leverage, and efficiency signals. 8–9 = strong, 0–2 = distressed. | 0 / 9 |
| Altman Z-Score Bankruptcy risk model. Above 2.99 = safe zone, 1.81–2.99 = grey zone, below 1.81 = distress signal. Most useful for manufacturing companies. | 0.78 |
Community Sentiment
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Quarterly Financials
| Metric | Q2 '26 | Q1 '26 | Q4 '25 | Q2 '26 | Q1 '26 | Q4 '25 | Q4 '25 | Q4 '23 | Q4 '21 | Q4 '21 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Total quarterly sales from primary business operations. | 30.4M | 37.0M | — | 60.9M | 47.7M | — | — | — | — | — | — |
| Gross Profit Quarterly revenue minus cost of goods sold. | -86.8M | -26.3M | — | -3.9M | $276,000 | — | — | — | — | — | — |
| Operating Income Quarterly profit from core operations before interest and taxes (EBIT). | -140.8M | -98.4M | — | 10.8M | -34.8M | — | — | — | — | — | — |
| Net Income Quarterly bottom-line profit after all expenses and taxes. | -65.0M | -145.4M | — | -5.5M | -55.6M | — | — | — | — | — | — |
| FCF Quarterly free cash flow: operating cash minus capital expenditures. | -53.4M | -64.7M | -132.9M | -115.9M | -18.8M | -141.7M | -106.9M | — | — | — | — |
Revenue & Free Cash Flow
Market Cap vs. DCF Fair Value Band
Shaded region = bear-to-bull DCF range. Line = actual market cap.
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Disclaimer: This analysis is for informational purposes only and does not constitute
investment advice. Scores and valuations are derived from SEC filings and publicly available data.
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