Kinder Morgan (KMI) FY2020 results: revenue $11.7 billion, down 11.4% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $11.7 billion for fiscal 2020, the year ended 31 December 2020, down 11.4% on the year before. Net income was $119 million, down 94.6%, and diluted earnings per share $0.05. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$11.7 billion
-11.4% on the year
FY2013FY2020
Operating margin
13.3%
36.9% a year earlier
FY2013FY2020
Net income
$119 million
-94.6% on the year
FY2013FY2020
Diluted EPS
$0.05
-94.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,700
13,209
14,144
-11.4%
Cost of revenue
2,545
3,263
4,421
-22.0%
Gross profit
9,155
9,946
9,723
-8.0%
Gross margin
78.2%
75.3%
68.7%
Operating income
1,560
4,873
3,794
-68.0%
Operating margin
13.3%
36.9%
26.8%
Interest expense
1,595
1,801
1,917
-11.4%
Pre-tax income
661
3,165
2,506
-79.1%
Income tax
481
926
587
-48.1%
Effective tax rate
72.8%
29.3%
23.4%
Net income
119
2,190
1,609
-94.6%
Net margin
1.0%
16.6%
11.4%
Diluted EPS
$0.05
$0.96
$0.66
-94.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,550
4,748
5,043
-4.2%
Capital expenditure
1,707
2,270
2,904
-24.8%
Free cash flow
2,843
2,478
2,139
+14.7%
Free cash flow margin
24.3%
18.8%
15.1%
Cash from investing
-911
-1,714
-68.0
Cash from financing
-2,638
-6,185
-1,824
Depreciation and amortisation
2,164
2,411
2,297
-10.2%
Buybacks
50.0
2.0
273
+2,400.0%
Dividends paid
2,362
2,163
1,618
+9.2%
Dividend per share
$1.05
$1.00
$0.80
+5.0%
Diluted shares, weighted
2,263m
2,264m
n/a
-0.0%
Shares outstanding at period end
2,264m
2,265m
2,262m
-0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
31,436
33,742
33,678
-6.8%
Non-controlling interest
402
344
853
+16.9%
Redeemable equity
728
803
666
-9.3%
Debt
34,689
34,392
37,324
+0.9%
Operating lease liabilities
263
289
n/a
-9.0%
Finance lease liabilities
1.0
2.0
n/a
-50.0%
Other liabilities
4,454
4,585
6,345
-2.9%
Total liabilities and equity
71,973
74,157
78,866
-2.9%
Fixed assets
35,836
36,419
37,897
-1.6%
Goodwill
19,851
21,451
21,965
-7.5%
Intangible assets
2,453
2,676
2,880
-8.3%
Investments
7,917
8,684
7,481
-8.8%
Cash and equivalents
1,184
185
3,280
+540.0%
Receivables
n/a
1,370
1,498
Inventory
348
371
385
-6.2%
Other assets
4,384
3,001
3,480
+46.1%
Total assets
71,973
74,157
78,866
-2.9%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.