Keel Infrastructure Corp.
KEEL Nasdaq· Finance Services
Last close · Oct 23, 2026
$2.17
KIRA · Stoqly’s AI analyst, in plain words
- Keel Infrastructure Corp. had $229M of revenue in fiscal 2025, up 72.0% on the year before.
- Its operating margin was −65.2%, down 44.2 pts: of every 100 in sales, about −65 is left after running the business.
- Keel Infrastructure Corp. lost $285M in fiscal 2025.
- Free cash flow was −$327M in fiscal 2025, −142.6% of revenue.
- Keel Infrastructure Corp. owes $38.5M more than it holds in cash.
Market cap
$1.2B
P/E
—
Revenue
$229M
Net income
−$285M
Free cash flow
−$327M
Operating margin
−65.2%
Keel Infrastructure Corp. in 30 seconds · fiscal 2025
Are sales growing?
+72.0%
Yes. Sales grew 72.0% last year.
Does it make a profit?
−124.1%
No. It lost money last year.
Does profit turn into cash?
−142.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 9
Weak. It passes 2 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Keel Infrastructure Corp. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 31, 2026
- Legal name
- Keel Infrastructure Corp.
- CIK
- 0001812477
Keel Infrastructure Corp. · KEEL
Results and finances
The last 3 fiscal years. Amounts in USD.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Sales and profit | |||
| Revenue | $120M | $133M | $229M |
| Revenue growth | — | 10.7% | 72.0% |
| Net interest income | $1.4M | $6.0M | $6.3M |
| Gross margin | −19.7% | −11.9% | −8.2% |
| Operating margin | −41.5% | −21.0% | −65.2% |
| Net income | −$55.5M | −$28.4M | −$285M |
| Net margin | −46.1% | −21.3% | −124.1% |
| Diluted EPS | −$0.21 | −$0.07 | −$0.52 |
| Cash | |||
| Cash from operations | −$107M | −$142M | −$227M |
| Capital expenditure | $48.4M | $287M | $100M |
| Free cash flow | −$155M | −$429M | −$327M |
| FCF margin | −129.0% | −321.6% | −142.6% |
| Share count change | — | 58.1% | 33.0% |
| Debt and strength | |||
| Cash and short-term investments | $84.0M | $59.5M | $631M |
| Debt incl. finance leases | $4.0M | $1.6M | $669M |
| Shareholders' equity | $325M | $611M | $560M |
| Net debt / EBITDA | −2.3x | −0.5x | — |
| Current ratio | — | 7.6x | 5.6x |
| Interest coverage | −17.5x | −37.6x | −17.3x |
| Returns and quality | |||
| Return on capital | −16.1% | −4.0% | −19.7% |
| Return on equity | −17.1% | −6.1% | −48.6% |
| Return on tangible equity | −17.1% | −4.6% | −51.0% |
| Piotroski F-score | — | — | 2 |
| Altman Z'' | — | 12.3 | 1.9 |
Insiders bought, 12 months
$0.5M
2 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Keel Infrastructure Corp. · KEEL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $2.17 a share, the company is worth $1.2B.
Source: SEC EDGAR XBRL filings (CIK 0001812477). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.