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Kinder Morgan, Inc. (KMI)

Kinder Morgan owns and operates energy infrastructure: pipelines that move natural gas, refined petroleum products, crude oil, condensate, carbon dioxide and renewable fuels, and terminals that store and handle gasoline, diesel, jet fuel, chemicals, petroleum coke, metals, ethanol and other renewable fuels and feedstocks. At the end of 2025 it owned an interest in or operated approximately 78,000 miles of pipeline, 136 terminals, approximately 706 Bcf of working natural gas storage and renewable natural gas generation capacity of approximately 6.9 Bcf a year of gross production. The company describes itself as one of the largest energy infrastructure companies in North America. There are four business segments: Natural Gas Pipelines, Products Pipelines, Terminals and CO2.

Kinder Morgan, Inc.

Kinder Morgan owns and operates energy infrastructure: pipelines that move natural gas, refined petroleum products, crude oil, condensate, carbon dioxide and renewable fuels, and terminals that store and handle gasoline, diesel, jet fuel, chemicals, petroleum coke, metals, ethanol and other renewable fuels and feedstocks. At the end of 2025 it owned an interest in or operated approximately 78,000 miles of pipeline, 136 terminals, approximately 706 Bcf of working natural gas storage and renewable natural gas generation capacity of approximately 6.9 Bcf a year of gross production. The company describes itself as one of the largest energy infrastructure companies in North America. There are four business segments: Natural Gas Pipelines, Products Pipelines, Terminals and CO2.

Natural Gas Pipelines

The largest segment, covering interstate and intrastate transportation, storage, processing and treating. The filing states the market is highly competitive, with new pipelines, storage, treating facilities and related services being built to serve domestic and export demand, and names location, rates, terms of service, flexibility, the availability of alternative energy and reliability as the principal elements of competition. Several joint ventures sit inside the segment, including Bear Creek Storage, WYCO and the Liberty pipeline, along with partly owned lines such as Utopia and Cypress, each half owned.

Products Pipelines

Refined petroleum products transportation, where profitability turns on the volume moved and the rates charged, along with the liquids terminals attached to those lines and a transmix business that reprocesses mixed product streams. Competition comes from proprietary pipelines and terminals owned by major oil companies, other independent pipelines and terminals, trucking and marine firms on short hauls, and for transmix from refineries owned by the majors and independent transmix plants.

Terminals

Refined product, chemical, renewable fuel and other liquid terminals outside the products pipelines segment, plus all the bulk terminals, which handle petroleum coke, metals and ores. The terminals sit mainly near large American cities, and the filing puts their location and the flexibility offered to customers forward as what attracts and keeps business. Services include short-term product storage, truck loading, vapour handling, additive and dye injection and ethanol blending. The segment also owns Jones Act-qualified product tankers carrying crude oil, condensate, refined products and renewable fuel between American ports.

CO2

This segment produces, transports and markets carbon dioxide used in enhanced oil recovery, where it is pumped into mature oil fields to flush out crude. The company also owns and operates oil and gas producing fields and renewable natural gas, liquefied natural gas and landfill gas-to-energy facilities. Its carbon dioxide pipelines let it sell supply and transportation as a package. One example of the oil side is the Diamond M field expansion, whose first phase entered service in October 2024, with the second and third phases expected in 2026 and peak production of approximately 5,400 barrels a day expected in 2027.

Recent deals

In February 2025 the company completed the purchase of a natural gas gathering and processing system in North Dakota from Outrigger Energy II for $648 million, including a 0.27 Bcf/d processing plant and a 104-mile large-diameter high-pressure gathering header with 0.35 Bcf/d of capacity connecting Williston Basin supply to demand markets. In December 2025 it sold its 25 percent non-operated interest in EagleHawk for $382 million.

Strategy and people

The stated strategy is to focus on stable, fee-based transportation and storage assets central to growing North American markets or to American exports, raise utilisation of existing assets while controlling costs and operating safely, keep discipline in capital allocation, use economies of scale through expansions and acquisitions, and keep its finances in good order while returning value to stockholders. The company employed 11,028 full-time people at the end of 2025, including approximately 867 full-time hourly staff at certain terminals and pipelines covered by collective bargaining agreements expiring between 2026 and 2029. Safety is managed through an operations management system, with performance measured on the recordable incident rate defined by the Occupational Safety and Health Administration, counting recordable workplace incidents per 100 full-time employees a year.

From Kinder Morgan's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Kinder Morgan became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 23 October 2026
Revenue
$4.5 billion
+9.3% on the year · +1.2% on the quarter
Q4 FY2024Q3 FY2026
Net income
$764 million
+21.7% on the year · -11.9% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.34
+21.4% on the year · -12.8% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 13 February 2026
Revenue
$16.9 billion
+12.2% on the year
FY2018FY2025
Net income
$3.1 billion
+17.0% on the year
FY2018FY2025
Diluted EPS
$1.37
+17.1% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsKinder Morgan (KMI) reported revenue of $16.9 billion for fiscal 2025, the year ended 31 December 2025, up 12.2% on the year before. Net income was $3.1 billion and diluted earnings per share $1.37. Revenue was $15.1 billion in fiscal 2024, $15.3 billion in fiscal 2023, $19.2 billion in fiscal 2022 and $16.6 billion in fiscal 2021. Net income in the same years was $2.6 billion, $2.4 billion, $2.5 billion and $1.8 billion. Over the twelve months to 30 September 2026, Kinder Morgan reported revenue of $18.3 billion and net income of $3.6 billion. Revenue grew 7.7% a year, compounded, over the five years to fiscal 2025. Kinder Morgan declared $1.18 a share in dividends over the last four quarters and had 2.23 billion shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Kinder Morgan was $66.7 billion, 18.5 times its earnings over the last twelve months.

Ratios

From the filings

ROE11.4%
ROCE8.2%
Operating margin29.0%
Net margin19.6%
FCF margin16.8%
Interest cover3.1x
Debt to equity1.05x
Cash conversion1.87x
Share count, last 12 months0.1%
Sales CAGR, 3 years-4.1%
Profit CAGR, 3 years6.2%
EPS, TTM$1.62

At the close of 6 November 2026

Price$29.96
Market cap$66.7 billion
Stock P/E18.5x
Price to book2.1x
EV / EBITDA12.7x
Dividend yield3.9%
Market cap / sales3.6x
52-week high$34.44
52-week low$26.12
Price, 1 year14.7%
Price CAGR, 3 years21.9%
Price CAGR, 5 years12.1%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Kinder Morgan, Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
KMIgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue4,4254,2935,1515,1774,5793,8883,5013,9074,0383,8423,5723,6993,9874,2414,0424,1464,5084,8284,4774,531
Cost of revenue1,9891,8942,6832,7171,9611,2159711,4051,3471,1079671,0241,2391,4761,2111,3951,4471,7491,4051,566
Gross profit2,4362,3992,4682,4602,6182,6732,5302,5022,6912,7352,6052,6752,7482,7652,8312,7513,0613,0793,0722,965
Gross margin55%56%48%48%57%69%72%64%67%71%73%72%69%65%70%66%68%64%69%65%
Operating income9501,0241,0069311,1041,1941,0309381,1011,2231,0381,0151,1081,1451,1521,0631,3641,4441,3461,160
Operating margin21%24%20%18%24%31%29%24%27%32%29%27%28%27%29%26%30%30%30%26%
Interest expense370333355399426445443457452472464466442451452456442430425430
Pre-tax income7758788377298918997787008249827707648919299198391,3051,2881,166980
Tax rate16%22%22%18%22%22%22%21%25%21%22%15%22%20%19%22%22%22%23%19%
Net income637667635576670679586532594746575625667717715628996976867764
Net margin14%16%12%11%15%17%17%14%15%19%16%17%17%17%18%15%22%20%19%17%
Diluted EPS$0.28$0.29$0.28$0.25$0.30$0.30$0.26$0.24$0.27$0.33$0.26$0.28$0.30$0.32$0.32$0.28$0.45$0.44$0.39$0.34
Operating cash flow1,2681,0841,5649151,4041,3331,5501,2862,3221,1891,6871,2491,5101,1621,6491,4141,6921,4911,9601,590
Capital expenditure3874073723654775075356476286195816577727666477938208049821,045
Free cash flow8816771,1925509278261,0156391,6945701,1065927383961,002621872687978545
Buybacks0.01.017216035.011320473.01327.00.00.00.00.00.00.00.0n/an/an/a
Dividends paid615616631629628627637634631631641643642642654654654654665665
Shares outstanding2,267m2,267m2,257m2,250m2,248m2,241m2,229m2,228m2,220m2,219m2,219m2,222m2,222m2,222m2,222m2,225m2,225m2,225m2,225m2,228m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue6,8797,8527,9439,97314,07016,22614,40313,05813,70514,14413,20911,70016,61019,20015,33415,10016,93718,344
Cost of revenuen/an/a3,2783,0575,2536,2784,0593,4294,3454,4213,2632,5456,4939,2554,9384,3375,5296,167
Gross profitn/an/a4,6656,9168,8179,94810,3449,6299,3609,7239,9469,15510,1179,94510,39610,76311,40812,177
Gross marginn/an/a58.7%69.3%62.7%61.3%71.8%73.7%68.3%68.7%75.3%78.2%60.9%51.8%67.8%71.3%67.4%66.4%
Operating income1,2571,1331,4232,5933,9904,4482,4473,5383,5293,7944,8731,5602,9164,0654,2634,3844,7245,314
Operating margin18.3%14.4%17.9%26.0%28.4%27.4%17.0%27.1%25.7%26.8%36.9%13.3%17.6%21.2%27.8%29.0%27.9%29.0%
Interest expense5996687031,4271,6901,807n/an/a1,8321,9171,8011,5951,4921,5131,7971,8441,8011,727
Pre-tax income8472308101,3433,4383,0917721,6382,1612,5063,1656612,2193,3353,2013,4073,9924,739
Income tax3241663611397426485649171,9385879264813697107156878321,033
Effective tax rate38.2%72.2%44.6%10.3%21.6%21.0%73.1%56.0%89.7%23.4%29.3%72.8%16.6%21.3%22.3%20.2%20.8%21.8%
Net income495-41.05943151,1931,0262537081831,6092,1901191,7842,5482,3912,6133,0563,603
Net margin7.2%-0.5%7.5%3.2%8.5%6.3%1.8%5.4%1.3%11.4%16.6%1.0%10.7%13.3%15.6%17.3%18.0%19.6%
Diluted EPSn/an/an/an/a$1.15$0.89$0.10$0.25$0.01$0.66$0.96$0.05$0.78$1.12$1.06$1.17$1.37$1.62
Filing8-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2010 to FY2025, 1 year left out

FY2010FY2011FY2012FY2013FY2014FY2015FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Natural Gas Pipelines4,0783,9435,2308,61310,1538,7048,5028,8078,1287,22211,64412,6599,1528,93010,99064.9%
Products Pipelines883n/a1,3701,8532,0681,8281,7441,8871,8311,7212,2453,4183,0662,9552,68615.9%
Terminals1,264n/a1,3561,4081,7171,8781,9722,0252,0311,7191,7121,7891,9112,0132,09412.4%
CO21,299n/a1,6771,8571,9601,6991,1961,2551,2191,0381,0091,3341,2051,2021,1676.9%
CO2 - KMPn/a1,434n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Kinder Morgan Canada268n/a311302291260256170n/an/an/an/an/an/an/an/a
Kinder Morgan Canada - KMPn/a302n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Other90n/a11-3n/an/an/an/an/an/an/an/an/an/a
Products Pipelines - KMPn/a914n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Subsidiary Issuersn/a0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Terminals - KMPn/a1,314n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Consolidation, Eliminationsn/a0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Less: Total intersegment revenuesn/a-1n/a-6-16-25n/an/an/an/an/an/an/an/an/an/a
Unallocatedn/a3635363637n/an/an/an/an/an/an/an/an/an/a
Natural Gas PipelinesProducts Pipelines FY2010 to FY2025Terminals FY2010 to FY2025CO2 FY2010 to FY2025Kinder Morgan Canada FY2010 to FY2018Other FY2010 to FY2014CO2 - KMP FY2011Terminals - KMP FY2011Products Pipelines - KMP FY2011Kinder Morgan Canada - KMP FY2011
7.8FY20109.9FY201216.2FY201413.7FY201713.2FY201916.6FY202115.3FY202316.9FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Consolidation, Eliminations, Less: Total intersegment revenues and Unallocated are the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart. Other is below zero in FY2015 as the 10-K filed it, so it has no share or block for that year.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Services8,1467,8857,9558,1987,6187,7578,1458,3718,9169,49056.0%
Commodity salesn/a5,6545,9874,8113,8918,71410,8976,7865,9577,25542.8%
Othern/a1662022001911391581772271921.1%
Natural gas sales2,454n/an/an/an/an/an/an/an/an/an/a
Revenues - Product sales and other2,458n/an/an/an/an/an/an/an/an/an/a
ServicesCommodity sales FY2017 to FY2025Other FY2017 to FY2025Revenues - Product sales and other FY2016Natural gas sales FY2016
13.7FY201713.2FY201916.6FY202115.3FY202316.9FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2011 to FY2025

FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States7,5139,48813,65615,60513,79712,45913,07313,59612,83311,62516,47919,03615,25515,05716,92699.9%
Mexico19781618412711612910176751311647943110.1%
Canada411407398437479483503447300n/an/an/an/an/an/an/a
United StatesMexicoCanada FY2011 to FY2019
7.9FY201114.1FY201314.4FY201513.7FY201713.2FY201916.6FY202115.3FY202316.9FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow1,5791,9132,3652,8084,1224,4675,3034,7584,6015,0434,7484,5505,7084,9676,4915,6355,9176,733
Capital expenditure1,3241,0061,2002,0223,3693,6173,8962,8823,1882,9042,2701,7071,2811,6212,3172,6293,0263,651
Free cash flow2559071,1657867538501,4071,8761,4132,1392,4782,8434,4273,3464,1743,0062,8913,082
Free cash flow margin3.7%11.6%14.7%7.9%5.4%5.2%9.8%14.4%10.3%15.1%18.8%24.3%26.7%17.4%27.2%19.9%17.1%16.8%
Cash from investing-3,474-2,284-2,392-5,097-3,122-5,210-5,706-1,625-3,403-68.0-1,714-911-2,305-2,175-4,175-2,629-3,179-3,858
Cash from financing1,936710-57.02,584-1,095471317-2,637-1,681-1,824-6,185-2,638-3,465-3,145-3,014-2,887-2,843-2,065
Depreciation and amortisation1,0481,0561,0681,4191,8062,0402,3092,2092,2612,2972,4112,1642,1352,1862,2502,3542,4532,499
Share-based compensationn/a0.00.087.00.00.0n/an/an/an/an/an/an/an/an/an/an/an/a
Buybacksn/an/an/an/a17294.0n/a0.02502732.050.00.03685227.00.0n/a
Dividends paidn/a7007701,1841,6221,7604,2241,1181,1201,6182,1632,3622,4432,5042,5292,5572,6042,638
Dividend per sharen/an/a$1.05$1.40$1.60$1.74$1.60$0.50$0.50$0.80$1.00$1.05$1.08$1.11$1.13$1.15$1.17n/a
Diluted shares, weightedn/an/an/an/a1,036m1,137m2,193m2,230m2,230mn/a2,264m2,263m2,266m2,258m2,234m2,220m2,223m2,227m
Shares outstanding at period endn/an/an/an/a1,031m2,125m2,229m2,230m2,217m2,262m2,265m2,264m2,267m2,248m2,220m2,222m2,225m2,228m
Filing8-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equityn/a8,5398,56813,86613,09334,07635,11934,43133,63633,67833,74231,43630,82330,74230,30630,53131,16231,595
Non-controlling interestn/a5,1005,24710,23415,1923502843711,4888533444021,0981,3721,4231,3361,2871,232
Redeemable equityn/an/an/an/an/an/an/an/a0.06668037280.0n/an/an/an/an/a
Debtn/a14,56413,16129,30936,19342,81443,40640,05037,84337,32434,39234,68933,32031,78832,11631,89032,00333,073
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a289263270240230193167n/a
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/a2.01.01.0n/an/an/an/an/a
Other liabilitiesn/a7053,74114,77610,7075,9585,2955,4536,0886,3454,5854,4544,9045,9366,9457,4578,1299,497
Total liabilities and equityn/a28,90830,71768,18575,18583,19884,10480,30579,05578,86674,15771,97370,41670,07871,02071,40772,74875,397
Owned
Fixed assetsn/a17,07117,92630,99635,84738,56440,54738,70540,15537,89736,41935,83635,65335,59937,29738,01339,33140,892
Goodwilln/a4,8315,07423,63224,50424,65423,79022,15222,16221,96521,45119,85119,91419,96520,12120,08420,08420,075
Intangible assetsn/a3391,1851,1712,4382,3023,5513,3183,0992,8802,6762,4531,6781,8091,9571,7601,7301,822
Investmentsn/a4,2913,7445,8045,9516,0366,0407,0277,2987,4818,6847,9177,5787,6537,8747,8457,5327,836
Cash and equivalents1665024117145983152296842643,2801851,1841,14074583.088.063.0918
Receivablesn/an/an/a1,3331,7211,6411,3151,3701,4481,4981,370n/an/an/an/an/an/an/a
Inventoryn/a92.0172374430459407357424385371348562634525555574621
Other assetsn/a1,7822,2054,1613,6969,2278,2256,6924,2053,4803,0014,3843,8913,6733,1633,0623,4343,233
Total assetsn/a28,90830,71768,18575,18583,19884,10480,30579,05578,86674,15771,97370,41670,07871,02071,40772,74875,397
Filing8-K10-K8-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.6%7.7%-4.1%11.7%
Profit growth, compounded28.3%91.4%6.2%32.1%
Return on equity, average5.5%8.1%8.8%9.8%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Kinder Morgan's revenue in fiscal 2025?

Kinder Morgan (KMI) reported revenue of $16.9 billion for fiscal 2025, the year ended 31 December 2025, up 12.2% on the year before.

How much did Kinder Morgan earn in fiscal 2025?

Net income was $3.1 billion for fiscal 2025, and diluted earnings per share $1.37.

What is Kinder Morgan's P/E ratio?

At the close of 6 November 2026, Kinder Morgan traded at 18.5 times its earnings over the twelve months to 30 September 2026.

What is Kinder Morgan's market cap?

The market cap of Kinder Morgan was $66.7 billion at the close of 6 November 2026.

Does Kinder Morgan pay a dividend?

Yes. Kinder Morgan declared $1.18 a share in dividends over the four quarters to 30 September 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
13 companies share its SEC industry code (Natural Gas Transmission); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on KMI

Dividends$1.18 a share over the four quarters to 30 September 2026, a 3.94% yield
Filings25 in twelve months: 16 current reports (8-K), about 9 regulation FD disclosure; 4 results of operations; 1 other events; 1 material agreement; 1 new financial obligation
Planned insider sales11 Form 144 notices in twelve months, $9.5 million; latest 6 November 2026
Options tapeput/call 0.41 by open interest at the 6 November 2026 close; the straddle prices a 3.1% move to 13 November 2026
13F holders1,845 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading19 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest44.0 million shares short, 3.77 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202623 October 2026EDGAR
10-Q30 June 202624 July 2026EDGAR
10-Q31 March 202624 April 2026EDGAR
10-K31 December 202513 February 2026EDGAR
10-Q30 September 202524 October 2025EDGAR
10-Q30 June 202518 July 2025EDGAR
10-Q31 March 202518 April 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q30 September 202418 October 2024EDGAR
10-Q30 June 202419 July 2024EDGAR

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