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Keel Infrastructure KEEL Additions Related To Business Combination

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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$2.05B+66.9%
Enterprise value$2.29B
P/S13.6×

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 bitf:AdditionsRelatedToBusinessCombination.

The source filing: Keel Infrastructure’s 10-K, filed March 31, 2026.

Filed
Mar 31, 2026, 4:31 PM EDT
Fiscal year
FY2026
Accession
0001213900-26-037514
Balance as of January 1,As of December 31, 2025 / Rights to renewable energy credits / —As of December 31, 2025 / Rights to waste tax credits / —As of December 31, 2025 / Total / —
Additions related to business combination3,1045,8858,989
Additions during the period17,0765,68722,763
Less: sale of credits to third parties(13,274)(13,274)
Balance as of period end6,90611,57218,478

ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

FAQ

What is Keel Infrastructure's additions related to business combination?
Keel Infrastructure (KEEL) reported additions related to business combination of $2.25M in Q4 2025.
What does additions related to business combination mean?
This metric tracks the value of assets or liabilities added to the balance sheet specifically resulting from a business combination or merger. It captures the incremental growth in the asset base derived from inorganic expansion. This helps investors quantify the scale and scope added through corporate consolidation.

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