Keel Infrastructure Balance Sheet Health
Financial Health criteria checks 1/6
Keel Infrastructure has a total shareholder equity of $419.1M and total debt of $577.4M, which brings its debt-to-equity ratio to 137.8%. Its total assets and total liabilities are $1.1B and $647.6M respectively.
Key information
137.77%
Debt to equity ratio
US$577.45m
Debt
| Interest coverage ratio | n/a |
| Cash | US$357.28m |
| Equity | US$419.14m |
| Total liabilities | US$647.58m |
| Total assets | US$1.07b |
Recent financial health updates
Recent updates
KEEL: AI Power Reuse And Funding Will Shape Risk Balance
Analysts have raised their price targets for Keel Infrastructure toward $10, reflecting updated assumptions that include a higher fair value estimate, a lower discount rate, and stronger expectations for revenue growth and profit margins as the company repurposes power assets for high performance compute demand. Analyst Commentary Current analyst commentary on Keel Infrastructure centers on its move to repurpose existing power assets for high performance compute customers and how that shift might influence valuation, capital returns, and execution risk.Keel Infrastructure Corp.: Wait For Some Earnings And Positive Cash Flow
Summary Keel Infrastructure (KEEL) has rebranded from its bitcoin roots. Liquidity is supported by over $300 million in cash and a bitcoin stash being converted, projected to last through 2027 or 2028. KEEL’s financial strategy hinges on securing signed leases to unlock lease financing. I recommend only small positions, as KEEL is highly speculative, lacking earnings history and subject to sharp revaluation swings. Meaningful earnings and cash flow is likely years away. Read the full article on Seeking Alpha
Power Constraints And Cost Pressures Will Challenge Long Term AI Infrastructure Ambitions
Catalysts About Keel Infrastructure Keel Infrastructure develops large scale powered land sites in North America into high performance computing campuses leased to hyperscalers, neocloud, enterprise and government customers. What are the underlying business or industry changes driving this perspective?
Long Term Power Access And AI Data Center Leases Will Drive A Transformational Future
Catalysts About Keel Infrastructure Keel Infrastructure develops and owns high power, North American HPC and AI data center sites for hyperscalers and neocloud customers. What are the underlying business or industry changes driving this perspective?Secured Power Capacity And Hyperscaler Leasing Will Reshape This AI Data Center Platform
Catalysts About Keel Infrastructure Keel Infrastructure develops and owns power rich, institutional grade data center campuses in North America for high performance computing and AI tenants. What are the underlying business or industry changes driving this perspective?Financial Position Analysis
Short Term Liabilities: KEEL's short term assets ($575.6M) exceed its short term liabilities ($59.9M).
Long Term Liabilities: KEEL's short term assets ($575.6M) do not cover its long term liabilities ($587.6M).
Debt to Equity History and Analysis
Debt Level: KEEL's net debt to equity ratio (52.5%) is considered high.
Reducing Debt: KEEL's debt to equity ratio has increased from 0.1% to 137.8% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: KEEL has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: KEEL has less than a year of cash runway if free cash flow continues to reduce at historical rates of 31.1% each year
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/05 03:16 |
| End of Day Share Price | 2026/07/02 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Keel Infrastructure Corp. is covered by 11 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Brian Kinstlinger | Alliance Global Partners |
| Martin Toner | ATB Cormark |
| Nicholas Giles | B. Riley Securities, Inc. |