KEELKeel Infrastructure Corp.

$3.44

Is the business good?

How good a business is KEEL?

Keel Infrastructure Corp. earns −36% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.

−36%

Return on invested capital · cost of capital 9.0% · 45 points below what the capital costs: growth destroys value

Operating margin
−150%

Operating margin · Information Technology Services median 7.9% · 12 months to Q2 2026

Gross margin
−66%

Gross margin

Operating margin by fiscal year
YearOperating margin
FY2023−42%
FY2024−21%
FY2025−65%
Details
Gross margin12 months to Q2 2026
−66%
Operating margin12 months to Q2 2026
−150%
Net margin12 months to Q2 2026
−154%
Free cash flow margin
−186%
Revenue, trailing twelve months
$176M
Free cash flow, trailing twelve months
−$327M
Net income, trailing twelve months
−$271M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash
−36%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.