Kinder Morgan (KMI) FY2017 results: revenue $13.7 billion, up 5.0% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $13.7 billion for fiscal 2017, the year ended 31 December 2017, up 5.0% on the year before. Net income was $183 million, down 74.2%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2018.
Revenue
$13.7 billion
+5.0% on the year
FY2010FY2017
Operating margin
25.7%
27.1% a year earlier
FY2010FY2017
Net income
$183 million
-74.2% on the year
FY2010FY2017
Diluted EPS
$0.01
-96.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
13,705
13,058
14,403
+5.0%
Cost of revenue
4,345
3,429
4,059
+26.7%
Gross profit
9,360
9,629
10,344
-2.8%
Gross margin
68.3%
73.7%
71.8%
Operating income
3,529
3,538
2,447
-0.3%
Operating margin
25.7%
27.1%
17.0%
Interest expense
1,832
n/a
n/a
Pre-tax income
2,161
1,638
772
+31.9%
Income tax
1,938
917
564
+111.3%
Effective tax rate
89.7%
56.0%
73.1%
Net income
183
708
253
-74.2%
Net margin
1.3%
5.4%
1.8%
Diluted EPS
$0.01
$0.25
$0.10
-96.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,601
4,758
5,303
-3.3%
Capital expenditure
3,188
2,882
3,896
+10.6%
Free cash flow
1,413
1,876
1,407
-24.7%
Free cash flow margin
10.3%
14.4%
9.8%
Cash from investing
-3,403
-1,625
-5,706
Cash from financing
-1,681
-2,637
317
Depreciation and amortisation
2,261
2,209
2,309
+2.4%
Buybacks
250
0.0
n/a
Dividends paid
1,120
1,118
4,224
+0.2%
Dividend per share
$0.50
$0.50
$1.60
0.0%
Diluted shares, weighted
2,230m
2,230m
2,193m
0.0%
Shares outstanding at period end
2,217m
2,230m
2,229m
-0.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
33,636
34,431
35,119
-2.3%
Non-controlling interest
1,488
371
284
+301.1%
Redeemable equity
0.0
n/a
n/a
Debt
37,843
40,050
43,406
-5.5%
Other liabilities
6,088
5,453
5,295
+11.6%
Total liabilities and equity
79,055
80,305
84,104
-1.6%
Fixed assets
40,155
38,705
40,547
+3.7%
Goodwill
22,162
22,152
23,790
+0.0%
Intangible assets
3,099
3,318
3,551
-6.6%
Investments
7,298
7,027
6,040
+3.9%
Cash and equivalents
264
684
229
-61.4%
Receivables
1,448
1,370
1,315
+5.7%
Inventory
424
357
407
+18.8%
Other assets
4,205
6,692
8,225
-37.2%
Total assets
79,055
80,305
84,104
-1.6%
10-K for the year ended 31 December 2017, filed 9 February 2018: the filing.