Kinder Morgan (KMI) FY2015 results: revenue $14.4 billion, down 11.2% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $14.4 billion for fiscal 2015, the year ended 31 December 2015, down 11.2% on the year before. Net income was $253 million, down 75.3%, and diluted earnings per share $0.10. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2016.
Revenue
$14.4 billion
-11.2% on the year
FY2009FY2015
Operating margin
17.0%
27.4% a year earlier
FY2009FY2015
Net income
$253 million
-75.3% on the year
FY2009FY2015
Diluted EPS
$0.10
-88.8% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
14,403
16,226
14,070
-11.2%
Cost of revenue
4,059
6,278
5,253
-35.3%
Gross profit
10,344
9,948
8,817
+4.0%
Gross margin
71.8%
61.3%
62.7%
Operating income
2,447
4,448
3,990
-45.0%
Operating margin
17.0%
27.4%
28.4%
Interest expense
n/a
1,807
1,690
Pre-tax income
772
3,091
3,438
-75.0%
Income tax
564
648
742
-13.0%
Effective tax rate
73.1%
21.0%
21.6%
Net income
253
1,026
1,193
-75.3%
Net margin
1.8%
6.3%
8.5%
Diluted EPS
$0.10
$0.89
$1.15
-88.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,303
4,467
4,122
+18.7%
Capital expenditure
3,896
3,617
3,369
+7.7%
Free cash flow
1,407
850
753
+65.5%
Free cash flow margin
9.8%
5.2%
5.4%
Cash from investing
-5,706
-5,210
-3,122
Cash from financing
317
471
-1,095
-32.7%
Depreciation and amortisation
2,309
2,040
1,806
+13.2%
Share-based compensation
n/a
0.0
0.0
Buybacks
n/a
94.0
172
Dividends paid
4,224
1,760
1,622
+140.0%
Dividend per share
$1.60
$1.74
$1.60
-7.8%
Diluted shares, weighted
2,193m
1,137m
1,036m
+92.9%
Shares outstanding at period end
2,229m
2,125m
1,031m
+4.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
35,119
34,076
13,093
+3.1%
Non-controlling interest
284
350
15,192
-18.9%
Debt
43,406
42,814
36,193
+1.4%
Other liabilities
5,295
5,958
10,707
-11.1%
Total liabilities and equity
84,104
83,198
75,185
+1.1%
Fixed assets
40,547
38,564
35,847
+5.1%
Goodwill
23,790
24,654
24,504
-3.5%
Intangible assets
3,551
2,302
2,438
+54.3%
Investments
6,040
6,036
5,951
+0.1%
Cash and equivalents
229
315
598
-27.3%
Receivables
1,315
1,641
1,721
-19.9%
Inventory
407
459
430
-11.3%
Other assets
8,225
9,227
3,696
-10.9%
Total assets
84,104
83,198
75,185
+1.1%
10-K for the year ended 31 December 2015, filed 16 February 2016: the filing.