Keel Infrastructure Corp. (KEEL) Key Metrics
KEEL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.43B
- Enterprise value
- $2.80B
- P/E (TTM)
- —
- Forward P/E
- 84.0
- PEG ratio
- —
- Price / sales
- 7.6 10-yr median 5.0
- Price / book
- 7.6 10-yr median 2.3
- EV / EBITDA
- 22.5 10-yr median 10.6
- Dividend yield
- —
- Beta
- 4.01
KEEL key metrics, 2017–2025
Fiscal year ended December 31, 2025 · U.S. dollarsKEEL valuation Price multiples at each fiscal year-end price.
KEEL returns How much profit the business earns on the capital it uses.
KEEL per-share figures Results divided by the shares outstanding at year-end.
KEEL financial health Debt, liquidity and how easily interest is covered.
KEEL efficiency & capital use Working capital cycle and where the cash goes.
KEEL valuation history
KEEL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
KEEL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
KEEL cash returned to shareholders
KEEL price vs earnings per share
KEEL key metrics
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||
| Market capitalization | $1.30B | $617.9M | $763.1M | $91.4M | $855.4M | — | — | — | — |
| Enterprise value | $1.41B | $494.4M | $698.9M | $121.0M | $748.5M | — | — | — | — |
| P/E ratio | — | — | — | — | 38.7 | — | — | — | — |
| Price / sales | 5.7 | 3.2 | 5.2 | 0.6 | 5.0 | — | — | — | — |
| Price / book | 2.3 | 1.0 | 2.6 | 0.4 | 2.4 | — | — | — | — |
| Price / operating cash flow | — | — | — | 2.5 | — | — | — | — | — |
| EV / sales | 6.1 | 2.6 | 4.8 | 0.8 | 4.4 | — | — | — | — |
| EV / EBITDA | 55.4 | 6.6 | — | — | 10.6 | — | — | — | — |
| Earnings yield | −21.9% | −8.8% | −14.3% | −192.1% | 2.6% | — | — | — | — |
| Free cash flow yield | −25.2% | −77.8% | −23.2% | −173.6% | −26.9% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.8% | 0.0% | 0.0% | — | — | — | — | — | — |
| Share price at fiscal year-end | $2.35 | $1.49 | $2.91 | $0.44 | $5.05 | $1.90 | $0.38 | — | — |
| Per share | |||||||||
| Revenue per share | $0.42 | $0.47 | $0.56 | $0.69 | $1.00 | — | — | — | — |
| Earnings per share | −$0.52 | −$0.13 | −$0.42 | −$0.85 | $0.13 | — | — | — | — |
| Operating cash flow per share | −$0.41 | −$0.34 | −$0.40 | $0.17 | −$0.22 | — | — | — | — |
| Free cash flow per share | −$0.59 | −$1.16 | −$0.68 | −$0.76 | −$1.36 | — | — | — | — |
| Cash per share | $1.04 | $0.35 | $0.32 | $0.17 | $1.13 | — | — | — | — |
| Book value per share | $1.02 | $1.47 | $1.12 | $1.23 | $2.12 | — | — | — | — |
| Tangible book value per share | $1.01 | $1.46 | $1.11 | $1.23 | $2.01 | — | — | — | — |
| Capex per share | $0.18 | $0.82 | $0.27 | $0.94 | $1.14 | — | — | — | — |
| Debt per share | $1.24 | $0.06 | $0.08 | $0.31 | $0.50 | — | — | — | — |
| Shares outstanding | 551.7M | 414.7M | 262.2M | 207.8M | 169.4M | — | — | — | — |
| Change in shares outstanding | +33.0% | +58.1% | +26.2% | +22.7% | — | — | — | — | — |
| Returns & profitability | |||||||||
| Return on equity (ROE) | −48.7% | −12.0% | −39.6% | −57.2% | 11.8% | −74.8% | 13.3% | −43.2% | 18.2% |
| Return on invested capital (ROIC) | −20.5% | −23.8% | −22.1% | −83.6% | 22.8% | −12.4% | 3.4% | −71.1% | 22.5% |
| Return on assets (ROA) | −29.0% | −10.3% | −30.2% | −39.7% | 7.4% | −31.2% | 7.3% | −30.8% | 14.7% |
| Return on tangible assets | −22.0% | −8.1% | −29.0% | −51.2% | 4.2% | −31.7% | 5.6% | −37.1% | 17.0% |
| Free cash flow margin | −142.6% | −249.1% | −120.9% | −111.4% | −136.0% | 7.9% | −54.8% | −26.7% | −69.5% |
| Income quality (OCF / net income) | — | — | — | — | −1.68 | — | 2.08 | — | 1.56 |
| Financial health | |||||||||
| Total debt | $683.8M | $23.4M | $19.9M | $65.0M | $84.7M | $28.4M | $22.2M | $1.7M | — |
| Cash & short-term investments | $573.5M | $146.8M | $84.0M | $35.4M | $191.6M | $5.9M | $2.2M | $552,000 | $4.5M |
| Net debt | $110.3M | −$123.4M | −$64.2M | $29.6M | −$106.9M | $22.4M | $20.0M | $1.2M | −$4.5M |
| Debt / equity | 1.22 | 0.04 | 0.07 | 0.25 | 0.24 | 1.84 | 0.79 | 0.11 | — |
| Debt / assets | 0.53 | 0.04 | 0.05 | 0.19 | 0.16 | 0.55 | 0.42 | 0.07 | — |
| Net debt / EBITDA | 4.35 | −1.66 | — | — | −1.52 | 15.22 | 2.08 | — | −0.55 |
| Current ratio | 5.58 | 5.89 | 1.88 | 1.02 | 1.74 | 0.32 | 1.63 | 0.71 | 1.48 |
| Quick ratio | 5.52 | 5.86 | 1.87 | 1.02 | 1.74 | 0.32 | 1.60 | 0.68 | 1.40 |
| Interest coverage | -17.3 | -61.9 | -17.7 | -20.0 | 18.6 | -1.1 | 0.4 | -285.7 | — |
| Working capital | $678.4M | $177.4M | $60.8M | $1.7M | $122.4M | −$19.3M | $2.5M | −$1.4M | $2.8M |
| Invested capital | $670.7M | $484.6M | $230.6M | $285.0M | $252.1M | $37.9M | $48.1M | $16.6M | $23.4M |
| Tangible asset value | $557.4M | $604.0M | $291.1M | $255.4M | $340.4M | $15.1M | $27.4M | $19.6M | $23.2M |
| Net current asset value | $90.5M | $154.1M | $46.0M | −$18.6M | $103.5M | −$27.1M | −$18.2M | −$2.3M | $1.8M |
| Graham number | — | — | — | — | $2.50 | — | — | — | — |
| Graham net-net per share | −$0.28 | $0.23 | $0.00 | −$0.19 | $0.05 | — | — | — | — |
| Capital allocation | |||||||||
| Share buybacks (net) | $10.0M | $0 | $0 | — | — | — | — | — | — |
| Capex / revenue | 43.7% | 176.2% | 48.7% | 136.9% | 114.0% | 12.9% | 73.3% | 67.4% | 158.1% |
| Capex / operating cash flow | — | — | — | 537.9% | — | 62.1% | 395.0% | 165.6% | 178.6% |
| Capex / depreciation | 0.82 | 2.41 | 0.84 | 2.69 | 7.90 | 0.39 | 3.47 | 1.82 | 12.37 |
| Stock-based compensation / revenue | 6.5% | 7.2% | 7.5% | 15.3% | 13.3% | 6.3% | 8.9% | 2.2% | — |
| SG&A / revenue | 34.2% | 38.0% | 26.8% | 36.2% | 25.5% | 23.8% | 30.8% | 26.1% | — |
| Efficiency | |||||||||
| Days sales outstanding | 11.5 | 9.2 | 21.8 | 22.8 | 2.6 | 26.8 | 27.9 | 9.6 | 21.1 |
| Days of inventory on hand | 7.2 | 1.5 | 1.4 | 1.6 | 2.2 | 1.7 | 2.3 | 4.4 | 112.6 |
| Days payables outstanding | 28.1 | 25.1 | 23.9 | 37.9 | 51.7 | 24.9 | 36.5 | 50.6 | 1,163.3 |
| Cash conversion cycle (days) | -9.3 | -14.4 | -0.7 | -13.5 | -46.8 | 3.6 | -6.4 | -36.6 | -1,029.6 |
| Receivables turnover | 31.76 | 39.84 | 16.75 | 16.00 | 139.04 | 13.63 | 13.10 | 38.07 | 17.29 |
| Payables turnover | 13.00 | 14.54 | 15.28 | 9.64 | 7.06 | 14.65 | 10.00 | 7.21 | 0.31 |
| Inventory turnover | 50.36 | 239.07 | 259.66 | 232.24 | 162.82 | 209.41 | 162.02 | 82.62 | 3.24 |
| Asset turnover | 0.23 | 0.37 | 0.41 | 0.32 | 0.57 | 0.66 | 0.82 | 1.11 | 0.26 |
| Average receivables | $7.2M | $4.8M | $8.7M | $8.9M | $1.2M | $2.5M | $2.5M | $888,000 | $519,000 |
| Average payables | $19.1M | $15.5M | $11.0M | $13.7M | $8.3M | $2.2M | $2.1M | $3.2M | $4.5M |
| Average inventory | $4.9M | $942,149 | $646,500 | $568,000 | $358,500 | $152,000 | $129,500 | $277,500 | $431,000 |
| Intangibles / total assets | 0.2% | 0.6% | 1.0% | 0.0% | 3.4% | 0.7% | 1.3% | 3.9% | 13.7% |
Computed from KEEL's annual financial statements (latest annual report filed March 31, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
KEEL valuation and financial ratios
Keel Infrastructure earned a return on equity of −48.7% and a return on invested capital of −20.5% in fiscal 2025. It ended the year with $683.8 million of debt and $573.5 million in cash and short-term investments, net debt of $110.3 million. It returned $10.0 million to shareholders: $0 in dividends and $10.0 million in share buybacks.
See the KEEL income statement, the KEEL chart for price history, or the KEEL stock overview for the latest quote and news.
KEEL key metrics FAQ
What is Keel Infrastructure's EV/EBITDA?
Keel Infrastructure's enterprise value was 55.4 times EBITDA at the end of fiscal 2025 (enterprise value $1.4 billion, EBITDA $25.4 million); the current EV/EBITDA is 22.5.
What is Keel Infrastructure's return on equity?
Keel Infrastructure's return on equity (ROE) was −48.7% in fiscal 2025: net income of -$284.5 million on average shareholders' equity of $584.2 million.
What is Keel Infrastructure's ROIC?
Keel Infrastructure's return on invested capital was −20.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Keel Infrastructure have?
Keel Infrastructure had total debt of $683.8 million at the end of fiscal 2025, a debt-to-equity ratio of 1.22 and $110.3 million of net debt (4.35 times EBITDA).
Does Keel Infrastructure buy back its shares?
Yes. Keel Infrastructure spent $10.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +33.0% over the year, to 551.7M..
What is Keel Infrastructure's free cash flow yield?
Keel Infrastructure generated -$326.9 million of free cash flow in fiscal 2025, a free cash flow yield of −25.2% on its market value at year-end ($1.3 billion).
What is Keel Infrastructure's current ratio?
Keel Infrastructure's current ratio was 5.58 at the end of fiscal 2025: current assets were 5.58 times current liabilities.