Kinder Morgan (KMI) FY2014 results: revenue $16.2 billion, up 15.3% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $16.2 billion for fiscal 2014, the year ended 31 December 2014, up 15.3% on the year before. Net income was $1.0 billion, down 14.0%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2015.
Revenue
$16.2 billion
+15.3% on the year
FY2009FY2014
Operating margin
27.4%
28.4% a year earlier
FY2009FY2014
Net income
$1.0 billion
-14.0% on the year
FY2009FY2014
Diluted EPS
$0.89
-22.6% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
16,226
14,070
9,973
+15.3%
Cost of revenue
6,278
5,253
3,057
+19.5%
Gross profit
9,948
8,817
6,916
+12.8%
Gross margin
61.3%
62.7%
69.3%
Operating income
4,448
3,990
2,593
+11.5%
Operating margin
27.4%
28.4%
26.0%
Interest expense
1,807
1,690
1,427
+6.9%
Pre-tax income
3,091
3,438
1,343
-10.1%
Income tax
648
742
139
-12.7%
Effective tax rate
21.0%
21.6%
10.3%
Net income
1,026
1,193
315
-14.0%
Net margin
6.3%
8.5%
3.2%
Diluted EPS
$0.89
$1.15
n/a
-22.6%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
4,467
4,122
2,808
+8.4%
Capital expenditure
3,617
3,369
2,022
+7.4%
Free cash flow
850
753
786
+12.9%
Free cash flow margin
5.2%
5.4%
7.9%
Cash from investing
-5,210
-3,122
-5,097
Cash from financing
471
-1,095
2,584
Depreciation and amortisation
2,040
1,806
1,419
+13.0%
Share-based compensation
0.0
0.0
87.0
Buybacks
94.0
172
n/a
-45.3%
Dividends paid
1,760
1,622
1,184
+8.5%
Dividend per share
$1.74
$1.60
$1.40
+8.7%
Diluted shares, weighted
1,137m
1,036m
n/a
+9.7%
Shares outstanding at period end
2,125m
1,031m
n/a
+106.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
34,076
13,093
13,866
+160.3%
Non-controlling interest
350
15,192
10,234
-97.7%
Debt
42,814
36,193
29,309
+18.3%
Other liabilities
5,958
10,707
14,776
-44.4%
Total liabilities and equity
83,198
75,185
68,185
+10.7%
Fixed assets
38,564
35,847
30,996
+7.6%
Goodwill
24,654
24,504
23,632
+0.6%
Intangible assets
2,302
2,438
1,171
-5.6%
Investments
6,036
5,951
5,804
+1.4%
Cash and equivalents
315
598
714
-47.3%
Receivables
1,641
1,721
1,333
-4.6%
Inventory
459
430
374
+6.7%
Other assets
9,227
3,696
4,161
+149.6%
Total assets
83,198
75,185
68,185
+10.7%
10-K for the year ended 31 December 2014, filed 23 February 2015: the filing.