Kinder Morgan (KMI) FY2018 results: revenue $14.1 billion, up 3.2% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $14.1 billion for fiscal 2018, the year ended 31 December 2018, up 3.2% on the year before. Net income was $1.6 billion, up 779.2%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$14.1 billion
+3.2% on the year
FY2011FY2018
Operating margin
26.8%
25.7% a year earlier
FY2011FY2018
Net income
$1.6 billion
+779.2% on the year
FY2011FY2018
Diluted EPS
$0.66
+6,500.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
14,144
13,705
13,058
+3.2%
Cost of revenue
4,421
4,345
3,429
+1.7%
Gross profit
9,723
9,360
9,629
+3.9%
Gross margin
68.7%
68.3%
73.7%
Operating income
3,794
3,529
3,538
+7.5%
Operating margin
26.8%
25.7%
27.1%
Interest expense
1,917
1,832
n/a
+4.6%
Pre-tax income
2,506
2,161
1,638
+16.0%
Income tax
587
1,938
917
-69.7%
Effective tax rate
23.4%
89.7%
56.0%
Net income
1,609
183
708
+779.2%
Net margin
11.4%
1.3%
5.4%
Diluted EPS
$0.66
$0.01
$0.25
+6,500.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,043
4,601
4,758
+9.6%
Capital expenditure
2,904
3,188
2,882
-8.9%
Free cash flow
2,139
1,413
1,876
+51.4%
Free cash flow margin
15.1%
10.3%
14.4%
Cash from investing
-68.0
-3,403
-1,625
Cash from financing
-1,824
-1,681
-2,637
Depreciation and amortisation
2,297
2,261
2,209
+1.6%
Buybacks
273
250
0.0
+9.2%
Dividends paid
1,618
1,120
1,118
+44.5%
Dividend per share
$0.80
$0.50
$0.50
+60.0%
Diluted shares, weighted
n/a
2,230m
2,230m
Shares outstanding at period end
2,262m
2,217m
2,230m
+2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
33,678
33,636
34,431
+0.1%
Non-controlling interest
853
1,488
371
-42.7%
Redeemable equity
666
0.0
n/a
Debt
37,324
37,843
40,050
-1.4%
Other liabilities
6,345
6,088
5,453
+4.2%
Total liabilities and equity
78,866
79,055
80,305
-0.2%
Fixed assets
37,897
40,155
38,705
-5.6%
Goodwill
21,965
22,162
22,152
-0.9%
Intangible assets
2,880
3,099
3,318
-7.1%
Investments
7,481
7,298
7,027
+2.5%
Cash and equivalents
3,280
264
684
+1,142.4%
Receivables
1,498
1,448
1,370
+3.5%
Inventory
385
424
357
-9.2%
Other assets
3,480
4,205
6,692
-17.2%
Total assets
78,866
79,055
80,305
-0.2%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.