Kinder Morgan (KMI) FY2013 results: revenue $14.1 billion, up 41.1% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $14.1 billion for fiscal 2013, the year ended 31 December 2013, up 41.1% on the year before. Net income was $1.2 billion, up 278.7%, and diluted earnings per share $1.15. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$14.1 billion
+41.1% on the year
FY2009FY2013
Operating margin
28.4%
26.0% a year earlier
FY2009FY2013
Net income
$1.2 billion
+278.7% on the year
FY2009FY2013
Diluted EPS
$1.15
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
14,070
9,973
7,943
+41.1%
Cost of revenue
5,253
3,057
3,278
+71.8%
Gross profit
8,817
6,916
4,665
+27.5%
Gross margin
62.7%
69.3%
58.7%
Operating income
3,990
2,593
1,423
+53.9%
Operating margin
28.4%
26.0%
17.9%
Interest expense
1,690
1,427
703
+18.4%
Pre-tax income
3,438
1,343
810
+156.0%
Income tax
742
139
361
+433.8%
Effective tax rate
21.6%
10.3%
44.6%
Net income
1,193
315
594
+278.7%
Net margin
8.5%
3.2%
7.5%
Diluted EPS
$1.15
n/a
n/a
$ million except per share. 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.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,122
2,808
2,365
+46.8%
Capital expenditure
3,369
2,022
1,200
+66.6%
Free cash flow
753
786
1,165
-4.2%
Free cash flow margin
5.4%
7.9%
14.7%
Cash from investing
-3,122
-5,097
-2,392
Cash from financing
-1,095
2,584
-57.0
Depreciation and amortisation
1,806
1,419
1,068
+27.3%
Share-based compensation
0.0
87.0
0.0
Buybacks
172
n/a
n/a
Dividends paid
1,622
1,184
770
+37.0%
Dividend per share
$1.60
$1.40
$1.05
+14.3%
Diluted shares, weighted
1,036m
n/a
n/a
Shares outstanding at period end
1,031m
n/a
n/a
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
13,093
13,866
8,568
-5.6%
Non-controlling interest
15,192
10,234
5,247
+48.4%
Debt
36,193
29,309
13,161
+23.5%
Other liabilities
10,707
14,776
3,741
-27.5%
Total liabilities and equity
75,185
68,185
30,717
+10.3%
Fixed assets
35,847
30,996
17,926
+15.7%
Goodwill
24,504
23,632
5,074
+3.7%
Intangible assets
2,438
1,171
1,185
+108.2%
Investments
5,951
5,804
3,744
+2.5%
Cash and equivalents
598
714
411
-16.2%
Receivables
1,721
1,333
n/a
+29.1%
Inventory
430
374
172
+15.0%
Other assets
3,696
4,161
2,205
-11.2%
Total assets
75,185
68,185
30,717
+10.3%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.