KMI · Kinder Morgan, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $16.94B | $15.10B | $15.33B | $19.20B | $16.61B | $11.70B |
| Cost of Revenue | - | - | - | $9.26B | $6.49B | $2.54B |
| Gross Profit | - | - | - | $9.95B | $10.12B | $9.15B |
| R&D | - | - | - | - | - | - |
| SG&A | $744.00M | $712.00M | $668.00M | $637.00M | $655.00M | $648.00M |
| Total Operating Expenses | $746.00M | $736.00M | $623.00M | $15.13B | $13.69B | $10.14B |
| D&A | $2.45B | $2.35B | $2.25B | $2.19B | $2.13B | $2.16B |
| Operating Income | $4.72B | $4.38B | $4.26B | $4.07B | $2.92B | $1.56B |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $832.00M | $687.00M | $715.00M | $710.00M | $369.00M | $481.00M |
| Net Income | $3.06B | $2.61B | $2.39B | $2.55B | $1.78B | $119.00M |
| EPS - Basic | $1.37 | $1.17 | $1.06 | $1.12 | $0.05 | - |
| EPS - Diluted | $1.37 | $1.17 | $1.06 | $1.12 | $0.05 | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $63.00M | $88.00M | $83.00M | $745.00M | $1.14B | $1.18B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | $574.00M | $555.00M | $525.00M | $634.00M | $562.00M | $348.00M |
| Accounts Payable | $1.41B | $1.40B | $1.37B | $1.44B | $1.26B | $837.00M |
| Current Assets | $2.75B | $2.52B | $2.54B | $3.80B | $3.83B | $3.20B |
| Total Assets | $72.75B | $71.41B | $71.02B | $70.08B | $70.42B | $71.97B |
| Current Liabilities | $4.32B | $5.10B | $7.22B | $6.93B | $5.82B | $5.07B |
| Long-term Debt | $30.78B | $29.88B | $28.07B | $28.40B | $30.67B | $32.13B |
| Total Liabilities | $40.30B | $39.54B | $39.29B | $37.96B | $38.49B | $39.41B |
| Stockholders' Equity | $31.16B | $30.53B | $30.31B | $30.74B | $30.82B | $31.44B |
| Retained Earnings | ($10.18B) | ($10.63B) | ($10.69B) | ($10.55B) | ($10.60B) | ($9.94B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.92B | $5.63B | $6.49B | $4.97B | $5.71B | $4.55B |
| Investing Cash Flow | ($3.18B) | ($2.63B) | ($4.17B) | ($2.17B) | ($2.31B) | ($911.00M) |
| Financing Cash Flow | ($2.84B) | ($2.89B) | ($3.01B) | ($3.15B) | ($3.46B) | ($2.64B) |
| CapEx | $3.03B | $2.63B | $2.32B | $1.62B | $1.28B | $1.71B |
| Free Cash Flow | $2.89B | $3.01B | $4.17B | $3.35B | $4.43B | $2.84B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | 51.8% | 60.9% | 78.2% |
| Operating margin | 27.9% | 29.0% | 27.8% | 21.2% | 17.6% | 13.3% |
| EBITDA margin | 42.4% | 44.6% | 42.5% | 32.6% | 30.4% | 31.8% |
| Net margin | 18.0% | 17.3% | 15.6% | 13.3% | 10.7% | 1.0% |
| Free cash flow margin | 17.1% | 19.9% | 27.2% | 17.4% | 26.7% | 24.3% |
| FCF / Net income | 0.95 | 1.15 | 1.75 | 1.31 | 2.48 | 23.89 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 4.4% | 4.7% | 4.4% | 3.3% | 3.9% | 5.5% |
| Effective tax rate | 21.4% | 20.8% | 23.0% | 21.8% | 17.1% | 80.2% |
| Return on assets | 4.2% | 3.7% | 3.4% | 3.6% | 2.5% | 0.2% |
| Return on equity | 9.8% | 8.6% | 7.9% | 8.3% | 5.8% | 0.4% |
| Return on invested capital | 6.0% | 5.7% | 5.6% | 5.4% | 3.9% | 1.2% |
| Liquidity | ||||||
| Current ratio | 0.64 | 0.49 | 0.35 | 0.55 | 0.66 | 0.63 |
| Quick ratio | 0.50 | 0.39 | 0.28 | 0.46 | 0.56 | 0.56 |
| Cash ratio | 0.01 | 0.02 | 0.01 | 0.11 | 0.20 | 0.23 |
| Leverage | ||||||
| Debt / Equity | 0.99 | 0.98 | 0.93 | 0.92 | 1.00 | 1.02 |
| Debt / Assets | 0.42 | 0.42 | 0.40 | 0.41 | 0.44 | 0.45 |
| Debt / EBITDA | 4.29 | 4.43 | 4.31 | 4.54 | 6.07 | 8.63 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.33 | 2.34 | 2.34 | 2.28 | 2.28 | 2.29 |
| Liabilities / Assets | 0.55 | 0.55 | 0.55 | 0.54 | 0.55 | 0.55 |
| Efficiency | ||||||
| Asset turnover | 0.23 | 0.21 | 0.22 | 0.27 | 0.24 | 0.16 |
| Inventory turnover | - | - | - | 14.60 | 11.55 | 7.31 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | 25d | 32d | 50d |
| Days payable outstanding | - | - | - | 57d | 71d | 120d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 20.1x | 23.4x | 16.6x | 16.1x | 317.2x | - |
| P / B | 2.0x | 2.0x | 1.3x | 1.3x | 1.2x | - |
| P / S | 3.6x | 4.0x | 2.6x | 2.1x | 2.2x | - |
| EV / EBITDA | 12.8x | 13.4x | 10.3x | 11.0x | 13.0x | - |
| Growth | ||||||
| Revenue growth (YoY) | 12.2% | -1.5% | -20.1% | 15.6% | 42.0% | -11.4% |
| Revenue CAGR (3y) | -4.1% | -3.1% | 9.4% | 13.3% | 5.5% | -5.1% |
| Revenue CAGR (5y) | 7.7% | 2.7% | 1.6% | 7.0% | 4.9% | -4.1% |
| Gross profit growth (YoY) | - | - | - | -1.7% | 10.5% | -8.0% |
| Operating income growth (YoY) | 7.8% | 2.8% | 4.9% | 39.4% | 86.9% | -68.0% |
| Net income growth (YoY) | 17.0% | 9.3% | -6.2% | 42.8% | 1399.2% | -94.6% |
| EPS growth (YoY) | 17.1% | 10.4% | -5.4% | 2140.0% | - | - |
| EPS CAGR (3y) | 6.9% | 186.0% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | 156.9% | -27.5% | - |
| FCF growth (YoY) | -3.8% | -28.0% | 24.7% | -24.4% | 55.7% | 14.7% |
| FCF CAGR (5y) | 0.3% | 3.9% | 14.3% | 18.8% | 18.4% | 15.1% |
| Book value growth (YoY) | 2.1% | 0.7% | -1.4% | -0.3% | -1.9% | -6.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$16.97B totalNatural Gas Pipelines$11.01B · 64.9%
Products Pipelines$2.69B · 15.8%
Terminals$2.10B · 12.4%
Co2$1.17B · 6.9%
Product / service
$32.71B totalOil And Gas Service$9.49B · 29.0%
Product$7.25B · 22.2%
Service$5.42B · 16.6%
Firm Services$4.25B · 13.0%
Natural Gas Sales$3.91B · 12.0%
Feebasedservices$1.16B · 3.5%
Product Other Than Natural Gas$1.00B · 3.1%
Product And Service Other$192.00M · 0.6%
Other Commodity$29.00M · 0.1%
Geographic
$16.94B totalUS$16.93B · 99.9%
MX$11.00M · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.62
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Natural Gas Transmission
Comparing KINDER MORGAN against the 5 most active filers in the same SIC group.
Dividends
$1.18/share trailing 12 months · +1.7% YoY
| Ex-date | Per share |
|---|---|
| May 4, 2026 | $0.2980 |
| Feb 2, 2026 | $0.2930 |
| Nov 3, 2025 | $0.2930 |
| Jul 31, 2025 | $0.2930 |
| Apr 30, 2025 | $0.2930 |
| Feb 3, 2025 | $0.2880 |
| Oct 31, 2024 | $0.2880 |
| Jul 31, 2024 | $0.2880 |
| Apr 29, 2024 | $0.2880 |
| Jan 30, 2024 | $0.2830 |
| Oct 30, 2023 | $0.2830 |
| Jul 28, 2023 | $0.2830 |
| Apr 28, 2023 | $0.2830 |
| Jan 30, 2023 | $0.2780 |
| Oct 28, 2022 | $0.2780 |
| Jul 29, 2022 | $0.2780 |
| Apr 29, 2022 | $0.2780 |
| Jan 28, 2022 | $0.2700 |
| Oct 29, 2021 | $0.2700 |
| Jul 30, 2021 | $0.2700 |
| Apr 29, 2021 | $0.2700 |
| Jan 29, 2021 | $0.2630 |
| Oct 30, 2020 | $0.2630 |
| Jul 31, 2020 | $0.2630 |