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Other financials

Income statement

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Revenue$37.0M-22.4%
Gross profit-$26.3M-9,631%
Operating income-$98.4M-182%
Net income-$145.4M-162%
EPS (diluted)-$0.24-118%

Balance sheet

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Cash & equivalents$357.3M+827%
Total debt$591.0M
Total equity$419.1M-36.6%
Total assets$1.1B

Cash flow

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Operating cash flow-$64.7M-243%
CapEx$10.3M-76.2%
Free cash flow-$75.0M-20.6%

Valuation

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Market cap$2.34B+90.5%
Enterprise value$2.58B
P/S15.5×

Profitability

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Gross margin-7.9%-2.8pp
Operating margin-37.8%+2.0pp
Net margin-52%+24.6pp
FCF margin-259.9%+201pp

Returns & leverage

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Return on equity-6.1%-2.5pp
Debt / equity1.4×
Current ratio9.6×

Where this comes from

Reported directly by Keel Infrastructure in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The source filing: Keel Infrastructure’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 7:00 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001213900-26-054166
Changes in non-cash working capital components:Three months ended March 31, 2026Three months ended March 31, 2025
Addition of ROU assets and related lease liabilities134
Purchase of PPE financed by short-term credit9,4742,416
Computational power revenue and its related service expense467788
Depreciation and amortization*
Property, plant and equipment, net27,49827,928
Finance lease right-of-use assets112254
Intangible assets, net84182
27,69428,364

Item 1. Financial Statements (Unaudited)

FAQ

What is Keel Infrastructure's D&A?
Keel Infrastructure (KEEL) reported D&A of $27.69M in Q1 2026.
How has Keel Infrastructure's D&A changed year-over-year?
Keel Infrastructure's D&A decreased by 2.4% year-over-year, from $28.36M to $27.69M.
What does D&A mean?
Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

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