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Kinder Morgan Inc Del Financials

KMI
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Kinder Morgan Inc Del (KMI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 61 / 100
Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
100

Kinder Morgan Inc Del has an operating margin of 27.9%, meaning the company retains $28 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 29.0% the prior year.

Growth
63

Kinder Morgan Inc Del's revenue grew 12.2% year-over-year to $16.9B, a solid pace of expansion. This earns a growth score of 63/100.

Leverage
75

Kinder Morgan Inc Del carries a low D/E ratio of 0.99, meaning only $0.99 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
5

Kinder Morgan Inc Del's current ratio of 0.64 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 5/100, which could limit financial flexibility.

Cash Flow
85

Kinder Morgan Inc Del converts 17.1% of revenue into free cash flow ($2.9B). This strong cash generation earns a score of 85/100.

Returns
39

Kinder Morgan Inc Del's ROE of 9.8% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 8.6% the prior year.

Altman Z-Score Distress
1.30

Kinder Morgan Inc Del scores 1.30, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($71.9B) relative to total liabilities ($40.3B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral
6/9

Kinder Morgan Inc Del passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.94x

For every $1 of reported earnings, Kinder Morgan Inc Del generates $1.94 in operating cash flow ($5.9B OCF vs $3.1B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue
$16.9B
YoY+12.2%
5Y CAGR+7.7%
10Y CAGR+1.6%

Kinder Morgan Inc Del generated $16.9B in revenue in fiscal year 2025. This represents an increase of 12.2% from the prior year.

EBITDA
$7.2B
YoY+6.5%
5Y CAGR+14.0%
10Y CAGR+4.2%

Kinder Morgan Inc Del's EBITDA was $7.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.5% from the prior year.

Free Cash Flow
$2.9B
YoY-3.8%
5Y CAGR+0.3%
10Y CAGR+7.4%

Kinder Morgan Inc Del generated $2.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.8% from the prior year.

Net Income
$3.1B
YoY+17.0%
5Y CAGR+91.4%
10Y CAGR+28.3%

Kinder Morgan Inc Del reported $3.1B in net income in fiscal year 2025. This represents an increase of 17.0% from the prior year.

EPS (Diluted)
$1.37
YoY+17.1%
5Y CAGR+93.9%
10Y CAGR+29.9%

Kinder Morgan Inc Del earned $1.37 per diluted share (EPS) in fiscal year 2025. This represents an increase of 17.1% from the prior year.

Cash & Debt
$63.0M
YoY-28.4%
5Y CAGR-44.4%
10Y CAGR-12.1%

Kinder Morgan Inc Del held $63.0M in cash against $30.8B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.17
YoY+1.7%
5Y CAGR+2.2%
10Y CAGR-3.1%

Kinder Morgan Inc Del paid $1.17 per share in dividends in fiscal year 2025. This represents an increase of 1.7% from the prior year.

Shares Outstanding
2.22B
YoY+0.1%
5Y CAGR-0.4%
10Y CAGR-0.0%

Kinder Morgan Inc Del had 2.22B shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Gross Margin
67.4%
YoY-3.9pp
5Y CAGR-10.9pp
10Y CAGR-4.5pp

Kinder Morgan Inc Del's gross margin was 67.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.9 percentage points from the prior year.

Operating Margin
27.9%
YoY-1.1pp
5Y CAGR+14.6pp
10Y CAGR+10.9pp

Kinder Morgan Inc Del's operating margin was 27.9% in fiscal year 2025, reflecting core business profitability. This is down 1.1 percentage points from the prior year.

Net Margin
18.0%
YoY+0.7pp
5Y CAGR+17.0pp
10Y CAGR+16.3pp

Kinder Morgan Inc Del's net profit margin was 18.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity
9.8%
YoY+1.3pp
5Y CAGR+9.4pp
10Y CAGR+9.1pp

Kinder Morgan Inc Del's ROE was 9.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.3 percentage points from the prior year.

R&D Spending
N/A
Share Buybacks
$0
YoY-100.0%

Kinder Morgan Inc Del spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures
$3.0B
YoY+15.1%
5Y CAGR+12.1%
10Y CAGR-2.5%

Kinder Morgan Inc Del invested $3.0B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 15.1% from the prior year.

KMI Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $4.5B+8.7% $4.1B+2.6% $4.0B-4.7% $4.2B+6.4% $4.0B+7.8% $3.7B+3.6% $3.6B-7.0% $3.8B
Cost of Revenue $1.4B+3.7% $1.4B+15.2% $1.2B-18.0% $1.5B+19.1% $1.2B+21.0% $1.0B+5.9% $967.0M-12.6% $1.1B
Gross Profit $3.1B+11.3% $2.8B-2.8% $2.8B+2.4% $2.8B+0.6% $2.7B+2.7% $2.7B+2.7% $2.6B-4.8% $2.7B
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $186.0M+1.6% $183.0M-2.7% $188.0M+0.5% $187.0M+2.7% $182.0M+3.4% $176.0M-1.7% $179.0M+2.3% $175.0M
Operating Income $1.4B+28.3% $1.1B-7.7% $1.2B+0.6% $1.1B+3.3% $1.1B+9.2% $1.0B-2.2% $1.0B-15.1% $1.2B
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $284.0M+53.5% $185.0M+4.5% $177.0M-4.8% $186.0M-5.6% $197.0M+74.3% $113.0M-32.7% $168.0M-19.6% $209.0M
Net Income $996.0M+58.6% $628.0M-12.2% $715.0M-0.3% $717.0M+7.5% $667.0M+6.7% $625.0M+8.7% $575.0M-22.9% $746.0M
EPS (Diluted) $0.45+60.7% $0.28-12.5% $0.320.0% $0.32+6.7% $0.30+7.1% $0.28+7.7% $0.26-21.2% $0.33

KMI Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $72.7B+0.6% $72.3B-0.1% $72.4B+0.1% $72.3B+1.3% $71.4B+0.7% $70.9B+0.3% $70.7B0.0% $70.7B
Current Assets $2.8B+13.5% $2.4B-2.4% $2.5B-3.6% $2.6B+2.3% $2.5B+15.8% $2.2B-0.6% $2.2B-5.1% $2.3B
Cash & Equivalents $63.0M-11.3% $71.0M-13.4% $82.0M+2.5% $80.0M-9.1% $88.0M-18.5% $108.0M+10.2% $98.0M-17.6% $119.0M
Inventory $574.0M+2.5% $560.0M0.0% $560.0M-2.9% $577.0M+4.0% $555.0M+5.5% $526.0M-2.0% $537.0M-2.0% $548.0M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $20.1B0.0% $20.1B0.0% $20.1B0.0% $20.1B0.0% $20.1B0.0% $20.1B0.0% $20.1B0.0% $20.1B
Total Liabilities $40.3B0.0% $40.3B0.0% $40.3B-0.3% $40.4B+2.2% $39.5B+1.0% $39.1B+0.3% $39.0B0.0% $39.0B
Current Liabilities $4.3B+12.4% $3.8B+5.9% $3.6B-37.1% $5.8B+13.3% $5.1B+7.8% $4.7B-20.6% $6.0B+30.2% $4.6B
Long-Term Debt $30.8B-2.3% $31.5B-1.2% $31.9B+6.4% $30.0B+0.3% $29.9B-0.6% $30.0B+4.9% $28.6B-5.0% $30.2B
Total Equity $31.2B+1.4% $30.7B-0.1% $30.8B+0.5% $30.6B+0.2% $30.5B+0.4% $30.4B+0.2% $30.3B-0.1% $30.4B
Retained Earnings -$10.2B+3.3% -$10.5B-0.2% -$10.5B+0.6% -$10.6B+0.7% -$10.6B+0.2% -$10.7B-0.2% -$10.6B-0.6% -$10.6B

KMI Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $1.7B+19.7% $1.4B-14.3% $1.6B+41.9% $1.2B-23.0% $1.5B+20.9% $1.2B-26.0% $1.7B+41.9% $1.2B
Capital Expenditures $820.0M+3.4% $793.0M+22.6% $647.0M-15.5% $766.0M-0.8% $772.0M+17.5% $657.0M+13.1% $581.0M-6.1% $619.0M
Free Cash Flow $872.0M+40.4% $621.0M-38.0% $1.0B+153.0% $396.0M-46.3% $738.0M+24.7% $592.0M-46.5% $1.1B+94.0% $570.0M
Investing Cash Flow -$477.0M+28.1% -$663.0M-6.1% -$625.0M+55.8% -$1.4B-83.4% -$771.0M-12.4% -$686.0M-14.3% -$600.0M-4.9% -$572.0M
Financing Cash Flow -$1.2B-52.0% -$815.0M+27.4% -$1.1B-436.9% $333.0M+150.7% -$657.0M-18.6% -$554.0M+49.9% -$1.1B-94.0% -$570.0M
Dividends Paid $654.0M0.0% $654.0M0.0% $654.0M+1.9% $642.0M0.0% $642.0M-0.2% $643.0M+0.3% $641.0M+1.6% $631.0M
Share Buybacks $0 $0 $0 $0 $0 $0 $0-100.0% $7.0M

KMI Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 67.9%+1.6pp 66.3%-3.7pp 70.0%+4.8pp 65.2%-3.7pp 68.9%-3.4pp 72.3%-0.6pp 72.9%+1.7pp 71.2%
Operating Margin 30.3%+4.6pp 25.6%-2.9pp 28.5%+1.5pp 27.0%-0.8pp 27.8%+0.4pp 27.4%-1.6pp 29.1%-2.8pp 31.8%
Net Margin 22.1%+6.9pp 15.2%-2.5pp 17.7%+0.8pp 16.9%+0.2pp 16.7%-0.2pp 16.9%+0.8pp 16.1%-3.3pp 19.4%
Return on Equity 3.2%+1.2pp 2.0%-0.3pp 2.3%-0.0pp 2.3%+0.2pp 2.2%+0.1pp 2.1%+0.2pp 1.9%-0.6pp 2.5%
Return on Assets 1.4%+0.5pp 0.9%-0.1pp 1.0%0.0pp 1.0%+0.1pp 0.9%+0.0pp 0.9%+0.1pp 0.8%-0.2pp 1.1%
Current Ratio 0.640.0 0.63-0.1 0.68+0.2 0.45-0.0 0.49+0.0 0.46+0.1 0.37-0.1 0.50
Debt-to-Equity 0.99-0.0 1.02-0.0 1.04+0.1 0.980.0 0.980.0 0.99+0.0 0.94-0.0 0.99
FCF Margin 19.3%+4.4pp 15.0%-9.8pp 24.8%+15.5pp 9.3%-9.2pp 18.5%+2.5pp 16.0%-15.0pp 31.0%+16.1pp 14.8%

Note: The current ratio is below 1.0 (0.64), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Kinder Morgan Inc Del's annual revenue?

Kinder Morgan Inc Del (KMI) reported $16.9B in total revenue for fiscal year 2025. This represents a 12.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kinder Morgan Inc Del's revenue growing?

Kinder Morgan Inc Del (KMI) revenue grew by 12.2% year-over-year, from $15.1B to $16.9B in fiscal year 2025.

Is Kinder Morgan Inc Del profitable?

Yes, Kinder Morgan Inc Del (KMI) reported a net income of $3.1B in fiscal year 2025, with a net profit margin of 18.0%.

What is Kinder Morgan Inc Del's earnings per share (EPS)?

Kinder Morgan Inc Del (KMI) reported diluted earnings per share of $1.37 for fiscal year 2025. This represents a 17.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Kinder Morgan Inc Del's EBITDA?

Kinder Morgan Inc Del (KMI) had EBITDA of $7.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Kinder Morgan Inc Del have?

As of fiscal year 2025, Kinder Morgan Inc Del (KMI) had $63.0M in cash and equivalents against $30.8B in long-term debt.

What is Kinder Morgan Inc Del's gross margin?

Kinder Morgan Inc Del (KMI) had a gross margin of 67.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Kinder Morgan Inc Del's operating margin?

Kinder Morgan Inc Del (KMI) had an operating margin of 27.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Kinder Morgan Inc Del's net profit margin?

Kinder Morgan Inc Del (KMI) had a net profit margin of 18.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Kinder Morgan Inc Del pay dividends?

Yes, Kinder Morgan Inc Del (KMI) paid $1.17 per share in dividends during fiscal year 2025.

What is Kinder Morgan Inc Del's return on equity (ROE)?

Kinder Morgan Inc Del (KMI) has a return on equity of 9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kinder Morgan Inc Del's free cash flow?

Kinder Morgan Inc Del (KMI) generated $2.9B in free cash flow during fiscal year 2025. This represents a -3.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Kinder Morgan Inc Del's operating cash flow?

Kinder Morgan Inc Del (KMI) generated $5.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kinder Morgan Inc Del's total assets?

Kinder Morgan Inc Del (KMI) had $72.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Kinder Morgan Inc Del's capital expenditures?

Kinder Morgan Inc Del (KMI) invested $3.0B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Kinder Morgan Inc Del have outstanding?

Kinder Morgan Inc Del (KMI) had 2.22B shares outstanding as of fiscal year 2025.

What is Kinder Morgan Inc Del's current ratio?

Kinder Morgan Inc Del (KMI) had a current ratio of 0.64 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Kinder Morgan Inc Del's debt-to-equity ratio?

Kinder Morgan Inc Del (KMI) had a debt-to-equity ratio of 0.99 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kinder Morgan Inc Del's return on assets (ROA)?

Kinder Morgan Inc Del (KMI) had a return on assets of 4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kinder Morgan Inc Del's Altman Z-Score?

Kinder Morgan Inc Del (KMI) has an Altman Z-Score of 1.30, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Kinder Morgan Inc Del's Piotroski F-Score?

Kinder Morgan Inc Del (KMI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kinder Morgan Inc Del's earnings high quality?

Kinder Morgan Inc Del (KMI) has an earnings quality ratio of 1.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Kinder Morgan Inc Del?

Kinder Morgan Inc Del (KMI) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.