Kinder Morgan (KMI) FY2019 results: revenue $13.2 billion, down 6.6% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $13.2 billion for fiscal 2019, the year ended 31 December 2019, down 6.6% on the year before. Net income was $2.2 billion, up 36.1%, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2020.
Revenue
$13.2 billion
-6.6% on the year
FY2012FY2019
Operating margin
36.9%
26.8% a year earlier
FY2012FY2019
Net income
$2.2 billion
+36.1% on the year
FY2012FY2019
Diluted EPS
$0.96
+45.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
13,209
14,144
13,705
-6.6%
Cost of revenue
3,263
4,421
4,345
-26.2%
Gross profit
9,946
9,723
9,360
+2.3%
Gross margin
75.3%
68.7%
68.3%
Operating income
4,873
3,794
3,529
+28.4%
Operating margin
36.9%
26.8%
25.7%
Interest expense
1,801
1,917
1,832
-6.1%
Pre-tax income
3,165
2,506
2,161
+26.3%
Income tax
926
587
1,938
+57.8%
Effective tax rate
29.3%
23.4%
89.7%
Net income
2,190
1,609
183
+36.1%
Net margin
16.6%
11.4%
1.3%
Diluted EPS
$0.96
$0.66
$0.01
+45.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,748
5,043
4,601
-5.8%
Capital expenditure
2,270
2,904
3,188
-21.8%
Free cash flow
2,478
2,139
1,413
+15.8%
Free cash flow margin
18.8%
15.1%
10.3%
Cash from investing
-1,714
-68.0
-3,403
Cash from financing
-6,185
-1,824
-1,681
Depreciation and amortisation
2,411
2,297
2,261
+5.0%
Buybacks
2.0
273
250
-99.3%
Dividends paid
2,163
1,618
1,120
+33.7%
Dividend per share
$1.00
$0.80
$0.50
+25.0%
Diluted shares, weighted
2,264m
n/a
2,230m
Shares outstanding at period end
2,265m
2,262m
2,217m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
33,742
33,678
33,636
+0.2%
Non-controlling interest
344
853
1,488
-59.7%
Redeemable equity
803
666
0.0
+20.6%
Debt
34,392
37,324
37,843
-7.9%
Operating lease liabilities
289
n/a
n/a
Finance lease liabilities
2.0
n/a
n/a
Other liabilities
4,585
6,345
6,088
-27.7%
Total liabilities and equity
74,157
78,866
79,055
-6.0%
Fixed assets
36,419
37,897
40,155
-3.9%
Goodwill
21,451
21,965
22,162
-2.3%
Intangible assets
2,676
2,880
3,099
-7.1%
Investments
8,684
7,481
7,298
+16.1%
Cash and equivalents
185
3,280
264
-94.4%
Receivables
1,370
1,498
1,448
-8.5%
Inventory
371
385
424
-3.6%
Other assets
3,001
3,480
4,205
-13.8%
Total assets
74,157
78,866
79,055
-6.0%
10-K for the year ended 31 December 2019, filed 12 February 2020: the filing.