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Keel Infrastructure KEEL Land — Depreciation

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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$2.31B+87.6%
Enterprise value$2.54B
P/S15.3×

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:Depreciation.

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

As of March 31, 2026, property, plant and equipment that are not yet placed into service amounted to $27,810 (December 31, 2025: $12,169) and land was $51,869 (December 31, 2025: $48,119). These assets are not depreciated. Depreciation begins when assets are ready and available for their intended use; land is not depreciated.

Item 1. Financial Statements (Unaudited)

FAQ

What is Keel Infrastructure's land — depreciation?
Keel Infrastructure (KEEL) reported land — depreciation of $51.87K in Q1 2026.
How has Keel Infrastructure's land — depreciation changed year-over-year?
Keel Infrastructure's land — depreciation increased by 331.2% year-over-year, from $12.03K to $51.87K.
What does land — depreciation mean?
This metric represents the periodic allocation of the cost of land-related assets or improvements that are subject to wear and tear over their useful life. While land itself is typically non-depreciable, this figure captures the systematic reduction in value of site-specific infrastructure or land improvements essential for hosting mining operations. It serves as a key indicator of the capital intensity required to maintain the physical footprint of data centers across various geographic jurisdictions.

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