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

Kinder Morgan, Inc. (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.

Kinder Morgan, Inc. (KMI) Financials

KMI

Trailing 12 months to June 30, 2026

Revenue $18.0B +12.5% YoY

Net Income $3.5B +27.3% YoY

EPS (Diluted) $1.56 +27.9% YoY

Free Cash Flow $3.2B +15.8% YoY

Market Cap $72.3B as of Oct 10, 2026

Price / Sales 4.0x on $18.0B revenue, trailing 12 months to June 30, 2026

Price / Earnings 20.9x on $3.5B net income, trailing 12 months to June 30, 2026

Price / Book 2.3x on $31.6B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 24, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 24, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KMI SEC filings page.

Kinder Morgan, Inc. (KMI) reported $18.0B in revenue over the twelve months to Jun 30, 2026, up 12.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI KMI FY2025 2026-10-04

Kinder Morgan converts recurring operating cash into dividends, but rising capital spending is steadily narrowing cash available after reinvestment.

In FY2025, operating margin slipped to 27.9% while net margin reached 18.0%; earnings conversion therefore improved without greater operating efficiency, helped partly by lower interest expense. That divergence suggests the reported profit improvement came more from revenue recovery and below-operating items than from expanding operating economics.

Operating cash flow was $5.9B in FY2025, but capital expenditures consumed $3.0B. This reinvestment burden reduced free cash flow to $2.9B from $4.2B in FY2023, leaving dividends of $2.6B close to the year's internally generated cash after investment.

The balance sheet remains debt-supported: the current ratio recovered to 0.6x in FY2025 but stayed below 1.0x, meaning current obligations exceeded current assets. Debt-to-equity was about 1.0x, while long-term debt rose to $30.8B, so the asset-heavy operating model continues to depend materially on borrowing alongside equity.

Financial Health Signals

Financial Health Score 52/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Kinder Morgan, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Kinder Morgan, Inc. 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 81/100, reflecting efficient cost management and pricing power. This is down from 29.0% the prior year.

Growth

Kinder Morgan, Inc.'s revenue grew 12.2% year-over-year to $16.9B, a solid pace of expansion. This earns a growth score of 59/100.

Leverage

Kinder Morgan, Inc. has elevated debt relative to equity (D/E of 0.99), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.

Liquidity

Kinder Morgan, Inc.'s current ratio of 0.64 is below the typical benchmark, resulting in a score of 12/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Kinder Morgan, Inc. converts 17.1% of revenue into free cash flow ($2.9B). This strong cash generation earns a score of 86/100.

Returns

Kinder Morgan, Inc.'s ROE of 9.8% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 8.6% the prior year.

Altman Z-Score Distress

1.30

Kinder Morgan, Inc. scores 1.30, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($72.3B) relative to total liabilities ($40.3B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Kinder Morgan, Inc. 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. 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.

Interest Coverage Adequate

2.62x

Kinder Morgan, Inc. earns $2.62 in operating income for every $1 of interest expense ($4.7B vs $1.8B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$4.5B

YoY+10.8%

QoQ-7.3%

5Y CAGR+7.3%

10Y CAGR+3.6%

Kinder Morgan, Inc. generated $4.5B in revenue in Q2 2026. This represents an increase of 10.8% from the same quarter a year earlier. Against the prior quarter it is down 7.3%.

EBITDA

$2.0B

YoY+11.2%

QoQ-5.3%

10Y CAGR+2.8%

Kinder Morgan, Inc.'s EBITDA was $2.0B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.2% from the same quarter a year earlier. Against the prior quarter it is down 5.3%.

Net Income

$867.0M

YoY+21.3%

QoQ-11.2%

10Y CAGR+8.8%

Kinder Morgan, Inc. reported $867.0M in net income in Q2 2026. This represents an increase of 21.3% from the same quarter a year earlier. Against the prior quarter it is down 11.2%.

EPS (Diluted)

$0.39

YoY+21.9%

QoQ-11.4%

Kinder Morgan, Inc. earned $0.39 per diluted share (EPS) in Q2 2026. This represents an increase of 21.9% from the same quarter a year earlier. Against the prior quarter it is down 11.4%.

Cash & Balance Sheet

Free Cash Flow

$978.0M

YoY-2.4%

QoQ+42.4%

5Y CAGR-3.4%

10Y CAGR+4.4%

Kinder Morgan, Inc. generated $978.0M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 2.4% from the same quarter a year earlier. Against the prior quarter it is up 42.4%.

Cash & Debt

$89.0M

YoY+8.5%

QoQ+23.6%

5Y CAGR-42.1%

10Y CAGR-6.8%

Kinder Morgan, Inc. held $89.0M in cash against $29.8B in long-term debt as of Q2 2026.

Dividends Per Share

$0.30

YoY+1.7%

QoQ0.0%

5Y CAGR+2.0%

10Y CAGR+9.1%

Kinder Morgan, Inc. paid $0.30 per share in dividends in Q2 2026. This represents an increase of 1.7% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

2.23B

YoY+0.2%

QoQ+0.1%

5Y CAGR-0.4%

10Y CAGR0.0%

Kinder Morgan, Inc. had 2.23B shares outstanding in Q2 2026. This represents an increase of 0.2% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Margins & Returns

Gross Margin

68.6%

YoY-1.4pp

QoQ+4.8pp

5Y change-1.7pp

10Y change-7.5pp

Kinder Morgan, Inc.'s gross margin was 68.6% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.8 percentage points.

Operating Margin

30.1%

YoY+1.6pp

QoQ+0.2pp

5Y change+54.3pp

10Y change+0.2pp

Kinder Morgan, Inc.'s operating margin was 30.1% in Q2 2026, reflecting core business profitability. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.

Net Margin

19.4%

YoY+1.7pp

QoQ-0.8pp

5Y change+43.4pp

10Y change+7.5pp

Kinder Morgan, Inc.'s net profit margin was 19.4% in Q2 2026, showing the share of revenue converted to profit. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.

Return on Equity

2.7%

YoY+0.4pp

QoQ-0.4pp

5Y change+5.2pp

10Y change+1.7pp

Kinder Morgan, Inc.'s ROE was 2.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.

Capital Allocation

Capital Expenditures

$982.0M

YoY+51.8%

QoQ+22.1%

5Y CAGR+28.7%

10Y CAGR+4.1%

Kinder Morgan, Inc. invested $982.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 51.8% from the same quarter a year earlier. Against the prior quarter it is up 22.1%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

KMI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KMI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$18.0B	$16.9B+12.2%	$15.1B-1.5%	$15.3B-20.1%	$19.2B+15.6%	$16.6B+42.0%	$11.7B-11.4%	$13.2B-6.6%	$14.1B+3.2%	$13.7B+5.0%	$13.1B-9.3%	$14.4B-11.2%	$16.2B+15.3%	$14.1B+41.1%	$10.0B+25.6%	$7.9B
Cost of Revenue	$6.0B	$5.5B+27.5%	$4.3B-12.2%	$4.9B-46.6%	$9.3B+42.5%	$6.5B+155.1%	$2.5B-22.0%	$3.3B-26.2%	$4.4B+1.7%	$4.3B+26.7%	$3.4B-15.5%	$4.1B-35.3%	$6.3B+19.5%	$5.3B+71.8%	$3.1B-6.7%	$3.3B
Gross Profit	$12.0B	$11.4B+6.0%	$10.8B+3.5%	$10.4B+4.5%	$9.9B-1.7%	$10.1B+10.5%	$9.2B-8.0%	$9.9B+2.3%	$9.7B+3.9%	$9.4B-2.8%	$9.6B-6.9%	$10.3B+4.0%	$9.9B+12.8%	$8.8B+27.5%	$6.9B+48.3%	$4.7B
SG&A Expenses	$745.0M	$744.0M+4.5%	$712.0M+6.6%	$668.0M+4.9%	$637.0M-2.7%	$655.0M+1.1%	$648.0M+9.8%	$590.0M-1.8%	$601.0M-12.6%	$688.0M-2.1%	$703.0M+1.9%	$690.0M+13.1%	$610.0M-0.5%	$613.0M-34.0%	$929.0M+80.4%	$515.0M
Operating Income	$5.2B	$4.7B+7.8%	$4.4B+2.8%	$4.3B+4.9%	$4.1B+39.4%	$2.9B+86.9%	$1.6B-68.0%	$4.9B+28.4%	$3.8B+7.5%	$3.5B-0.3%	$3.5B+44.6%	$2.4B-45.0%	$4.4B+11.5%	$4.0B+53.9%	$2.6B+82.2%	$1.4B
EBITDA	N/A	$7.2B+6.5%	$6.7B+3.5%	$6.5B+4.2%	$6.3B+23.8%	$5.1B+35.6%	$3.7B-48.9%	$7.3B+19.6%	$6.1B+5.2%	$5.8B+0.7%	$5.7B+20.8%	$4.8B-26.7%	$6.5B+11.9%	$5.8B+44.5%	$4.0B+61.1%	$2.5B
Interest Expense	$1.8B	$1.8B-2.3%	$1.8B+2.6%	$1.8B+18.8%	$1.5B+1.4%	$1.5B-6.5%	$1.6B-11.4%	$1.8B-6.1%	$1.9B+4.6%	$1.8B+201.4%	-$1.8B+11.9%	-$2.1B-213.5%	$1.8B+6.9%	$1.7B+18.4%	$1.4B+103.0%	$703.0M
Income Tax	$1.0B	$832.0M+21.1%	$687.0M-3.9%	$715.0M+0.7%	$710.0M+92.4%	$369.0M-23.3%	$481.0M-48.1%	$926.0M+57.8%	$587.0M-69.7%	$1.9B+111.3%	$917.0M+62.6%	$564.0M-13.0%	$648.0M-12.7%	$742.0M+433.8%	$139.0M-61.5%	$361.0M
Net Income	$3.5B	$3.1B+17.0%	$2.6B+9.3%	$2.4B-6.2%	$2.5B+42.8%	$1.8B+1399.2%	$119.0M-94.6%	$2.2B+36.1%	$1.6B+779.2%	$183.0M-74.2%	$708.0M+179.8%	$253.0M-75.3%	$1.0B-14.0%	$1.2B+278.7%	$315.0M-47.0%	$594.0M
EPS (Basic)	N/A	$1.37+17.1%	$1.17+10.4%	$1.06-5.4%	$1.12+43.6%	$0.78+1460.0%	$0.05-94.8%	$0.96	N/A	$0.01-96.0%	$0.25+150.0%	$0.10-88.8%	$0.89-22.6%	$1.15	N/A	N/A
EPS (Diluted)	$1.56	$1.37+17.1%	$1.17+10.4%	$1.06-5.4%	$1.12+43.6%	$0.78+1460.0%	$0.05-94.8%	$0.96	N/A	$0.01	$0.25+150.0%	$0.10	$0.89	$1.15	N/A	N/A
Diluted Shares (Avg)	N/A	2.22B+0.1%	2.22B-0.6%	2.23B-1.1%	2.26B-0.4%	2.27B+0.1%	2.26B0.0%	2.26B	N/A	2.23B	2.23B+1.7%	2.19B	1.14B	1.04B	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$4.5B+10.8%	$4.8B+13.8%	$4.5B+13.1%	$4.1B+12.1%	$4.0B+13.2%	$4.2B+10.4%	$4.0B-1.3%	$3.7B-5.3%
Cost of Revenue	$1.4B+16.0%	$1.7B+18.5%	$1.4B+16.8%	$1.4B+36.2%	$1.2B+25.2%	$1.5B+33.3%	$1.2B-8.0%	$1.0B-27.1%
Gross Profit	$3.1B+8.5%	$3.1B+11.4%	$3.1B+11.4%	$2.8B+2.8%	$2.8B+8.7%	$2.8B+1.1%	$2.7B+2.1%	$2.7B+6.9%
SG&A Expenses	$192.0M+2.1%	$184.0M-1.6%	$186.0M+2.2%	$183.0M+4.0%	$188.0M+5.0%	$187.0M+6.9%	$182.0M+6.4%	$176.0M+8.6%
Operating Income	$1.3B+16.8%	$1.4B+26.1%	$1.4B+23.1%	$1.1B+4.7%	$1.2B+11.0%	$1.1B-6.4%	$1.1B+0.6%	$1.0B+8.2%
EBITDA	$2.0B+11.2%	$2.1B+18.3%	$2.0B+16.3%	$1.7B+4.4%	$1.8B+9.0%	$1.8B-3.0%	$1.7B+2.2%	$1.6B+6.9%
Interest Expense	$425.0M-6.0%	$430.0M-4.7%	$442.0M0.0%	$456.0M-2.1%	$452.0M-2.6%	$451.0M-4.4%	$442.0M-2.2%	$466.0M+2.0%
Income Tax	$272.0M+53.7%	$287.0M+54.3%	$284.0M+44.2%	$185.0M+63.7%	$177.0M+5.4%	$186.0M-11.0%	$197.0M-4.4%	$113.0M-22.1%
Net Income	$867.0M+21.3%	$976.0M+36.1%	$996.0M+49.3%	$628.0M+0.5%	$715.0M+24.3%	$717.0M-3.9%	$667.0M+12.3%	$625.0M+17.5%
EPS (Basic)	$0.39+21.9%	$0.44+37.5%	$0.45+50.0%	$0.280.0%	$0.32+23.1%	$0.32-3.0%	$0.30+15.4%	$0.28+16.7%
EPS (Diluted)	$0.39+21.9%	$0.44+37.5%	$0.45+50.0%	$0.280.0%	$0.32+23.1%	$0.32-3.0%	$0.30+15.4%	$0.28+16.7%
Diluted Shares (Avg)	2.23B+0.1%	2.23B+0.1%	N/A	2.22B+0.1%	2.22B+0.1%	2.22B+0.1%	N/A	2.22B-0.4%

Not reported in any period shown, so not listed: R&D Expenses.

KMI Balance Sheet

KMI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$72.7B+1.9%	$71.4B+0.5%	$71.0B+1.3%	$70.1B-0.5%	$70.4B-2.2%	$72.0B-2.9%	$74.2B-6.0%	$78.9B-0.2%	$79.1B-1.6%	$80.3B-4.5%	$84.1B+1.3%	$83.0B+10.5%	$75.2B+10.2%	$68.2B+122.2%	$30.7B
Current Assets	$2.8B+9.2%	$2.5B-0.8%	$2.5B-33.2%	$3.8B-0.7%	$3.8B+19.5%	$3.2B-1.1%	$3.2B-43.4%	$5.7B+110.8%	$2.7B-15.9%	$3.2B+14.3%	$2.8B-24.7%	$3.8B-3.0%	$3.9B+5.3%	$3.7B+120.9%	$1.7B
Cash & Equivalents	$63.0M-28.4%	$88.0M+6.0%	$83.0M-88.9%	$745.0M-34.6%	$1.1B-3.7%	$1.2B+540.0%	$185.0M-94.4%	$3.3B+1142.4%	$264.0M-61.4%	$684.0M+198.7%	$229.0M-27.3%	$315.0M-47.3%	$598.0M-16.2%	$714.0M+73.7%	$411.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0-100.0%	$925.0M	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$574.0M+3.4%	$555.0M+5.7%	$525.0M-17.2%	$634.0M+12.8%	$562.0M+61.5%	$348.0M-6.2%	$371.0M-3.6%	$385.0M-9.2%	$424.0M+18.8%	$357.0M-12.3%	$407.0M-11.3%	$459.0M+6.7%	$430.0M+15.0%	$374.0M+117.4%	$172.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$1.4B-7.9%	$1.5B+3.5%	$1.4B+5.7%	$1.4B+4.2%	$1.3B-19.9%	$1.6B-4.6%	$1.7B+29.1%	$1.3B	N/A
Long-Term Investments	$7.5B-4.0%	$7.8B-0.4%	$7.9B+2.9%	$7.7B+1.0%	$7.6B-4.3%	$7.9B+2.0%	$7.8B+3.7%	$7.5B+2.5%	$7.3B+3.9%	$7.0B+16.3%	$6.0B+0.1%	$6.0B+1.4%	$6.0B+2.5%	$5.8B+55.0%	$3.7B
Goodwill	$20.1B0.0%	$20.1B-0.2%	$20.1B+0.8%	$20.0B+0.3%	$19.9B+0.3%	$19.9B-7.5%	$21.5B-2.3%	$22.0B-0.9%	$22.2B0.0%	$22.2B-6.9%	$23.8B-3.5%	$24.7B+0.6%	$24.5B+3.7%	$23.6B+365.7%	$5.1B
Total Liabilities	$40.3B+1.9%	$39.5B+0.6%	$39.3B+3.5%	$38.0B-1.4%	$38.5B-2.3%	$39.4B+0.4%	$39.3B-10.1%	$43.7B-0.6%	$43.9B-3.5%	$45.5B-6.6%	$48.7B+0.2%	$48.6B-21.7%	$62.1B+40.7%	$44.1B+99.3%	$22.1B
Current Liabilities	$4.3B-15.3%	$5.1B-29.4%	$7.2B+4.2%	$6.9B+19.1%	$5.8B+14.7%	$5.1B-0.5%	$5.1B-32.5%	$7.6B+22.3%	$6.2B+4.3%	$5.9B+45.7%	$4.1B-36.1%	$6.4B+4.7%	$6.1B+16.2%	$5.2B+15.4%	$4.5B
Non-Current Liabilities	$36.0B+4.5%	$34.4B+7.4%	$32.1B+3.3%	$31.0B-5.0%	$32.7B-4.8%	$34.3B+0.5%	$34.2B-5.4%	$36.1B-4.3%	$37.8B-4.6%	$39.6B-11.3%	$44.6B+5.6%	$42.3B+3.5%	$40.8B+4.9%	$38.9B+120.9%	$17.6B
Long-Term Debt	$30.8B+3.0%	$29.9B+6.5%	$28.1B-1.2%	$28.4B-7.4%	$30.7B-4.5%	$32.1B+0.7%	$31.9B-6.0%	$33.9B-3.1%	$35.0B-6.3%	$37.4B-11.9%	$42.4B+5.8%	$40.1B+18.3%	$33.9B+5.9%	$32.0B+122.9%	$14.4B
Total Equity	$31.2B+2.1%	$30.5B+0.7%	$30.3B-1.4%	$30.7B-0.3%	$30.8B-1.9%	$31.4B-6.8%	$33.7B+0.2%	$33.7B+0.1%	$33.6B-2.3%	$34.4B-2.0%	$35.1B+3.1%	$34.1B+160.3%	$13.1B-5.6%	$13.9B+61.8%	$8.6B
Retained Earnings	-$10.2B+4.3%	-$10.6B+0.5%	-$10.7B-1.3%	-$10.6B+0.4%	-$10.6B-6.6%	-$9.9B-29.2%	-$7.7B+0.3%	-$7.7B+0.5%	-$7.8B-16.3%	-$6.7B-9.3%	-$6.1B-189.8%	-$2.1B-53.5%	-$1.4B-45.5%	-$943.0M-31333.3%	-$3.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$74.1B+2.3%	$73.1B+1.0%	$72.7B+1.9%	$72.3B+2.0%	$72.4B+2.4%	$72.3B+2.2%	$71.4B+0.5%	$70.9B+2.9%
Current Assets	$2.6B+4.1%	$2.7B+5.0%	$2.8B+9.2%	$2.4B+11.4%	$2.5B+13.5%	$2.6B+11.8%	$2.5B-0.8%	$2.2B-10.5%
Cash & Equivalents	$89.0M+8.5%	$72.0M-10.0%	$63.0M-28.4%	$71.0M-34.3%	$82.0M-16.3%	$80.0M-32.8%	$88.0M+6.0%	$108.0M+35.0%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$565.0M+0.9%	$593.0M+2.8%	$574.0M+3.4%	$560.0M+6.5%	$560.0M+4.3%	$577.0M+5.3%	$555.0M+5.7%	$526.0M-6.9%
Long-Term Investments	$7.7B-1.9%	$7.7B-2.9%	$7.5B-4.0%	$7.7B-1.7%	$7.9B0.0%	$7.9B-0.4%	$7.8B-0.4%	$7.9B+2.7%
Goodwill	$20.1B0.0%	$20.1B0.0%	$20.1B0.0%	$20.1B0.0%	$20.1B0.0%	$20.1B0.0%	$20.1B-0.2%	$20.1B+0.6%
Total Liabilities	$41.2B+2.2%	$40.5B+0.2%	$40.3B+1.9%	$40.3B+2.9%	$40.3B+3.3%	$40.4B+3.6%	$39.5B+0.6%	$39.1B+5.0%
Current Liabilities	$5.6B+55.4%	$5.2B-10.3%	$4.3B-15.3%	$3.8B-18.7%	$3.6B-39.0%	$5.8B+26.3%	$5.1B-29.4%	$4.7B-24.3%
Non-Current Liabilities	$35.5B-3.1%	$35.3B+2.0%	$36.0B+4.5%	$36.4B+5.9%	$36.7B+10.9%	$34.6B+0.6%	$34.4B+7.4%	$34.4B+10.9%
Long-Term Debt	$29.8B-6.5%	$29.9B-0.3%	$30.8B+3.0%	$31.5B+4.8%	$31.9B+11.2%	$30.0B-0.7%	$29.9B+6.5%	$30.0B+7.8%
Total Equity	$31.6B+2.8%	$31.3B+2.3%	$31.2B+2.1%	$30.7B+1.1%	$30.8B+1.4%	$30.6B+0.8%	$30.5B+0.7%	$30.4B+0.5%
Retained Earnings	-$9.7B+8.0%	-$9.9B+6.6%	-$10.2B+4.3%	-$10.5B+1.3%	-$10.5B+1.3%	-$10.6B+0.2%	-$10.6B+0.5%	-$10.7B-0.1%

Not reported in any period shown, so not listed: Accounts Receivable.

KMI Cash Flow Statement

KMI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$6.6B	$5.9B+5.0%	$5.6B-13.2%	$6.5B+30.7%	$5.0B-13.0%	$5.7B+25.5%	$4.5B-4.2%	$4.7B-5.8%	$5.0B+9.6%	$4.6B-3.3%	$4.8B-10.4%	$5.3B+18.9%	$4.5B+8.4%	$4.1B+46.8%	$2.8B+18.7%	$2.4B
Depreciation & Amortization	N/A	$2.5B+4.2%	$2.4B+4.6%	$2.3B+2.9%	$2.2B+2.4%	$2.1B-1.3%	$2.2B-10.2%	$2.4B+5.0%	$2.3B+1.6%	$2.3B+2.4%	$2.2B-4.3%	$2.3B+13.2%	$2.0B+13.0%	$1.8B+27.3%	$1.4B+32.9%	$1.1B
Stock-Based Compensation	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$87.0M	$0
Capital Expenditures	$3.4B	$3.0B+15.1%	$2.6B+13.5%	$2.3B+42.9%	$1.6B+26.5%	$1.3B-25.0%	$1.7B-24.8%	$2.3B-21.8%	$2.9B-8.9%	$3.2B+10.6%	$2.9B-26.0%	$3.9B+7.7%	$3.6B+7.4%	$3.4B+66.6%	$2.0B+68.5%	$1.2B
Free Cash Flow	$3.2B	$2.9B-3.8%	$3.0B-28.0%	$4.2B+24.7%	$3.3B-24.4%	$4.4B+55.7%	$2.8B+14.7%	$2.5B+15.8%	$2.1B+51.4%	$1.4B-24.7%	$1.9B+32.4%	$1.4B+66.7%	$850.0M+12.9%	$753.0M-4.2%	$786.0M-32.6%	$1.2B
Investing Cash Flow	-$3.5B	-$3.2B-20.9%	-$2.6B+37.0%	-$4.2B-92.0%	-$2.2B+5.6%	-$2.3B-153.0%	-$911.0M+46.8%	-$1.7B-2420.6%	-$68.0M+98.0%	-$3.4B-109.4%	-$1.6B+71.5%	-$5.7B-9.5%	-$5.2B-66.9%	-$3.1B+38.7%	-$5.1B-113.1%	-$2.4B
Financing Cash Flow	-$3.1B	-$2.8B+1.5%	-$2.9B+4.2%	-$3.0B+4.2%	-$3.1B+9.2%	-$3.5B-31.3%	-$2.6B+57.3%	-$6.2B-239.1%	-$1.8B-8.5%	-$1.7B+36.3%	-$2.6B-931.9%	$317.0M-32.7%	$471.0M+143.0%	-$1.1B-142.4%	$2.6B+4633.3%	-$57.0M
Dividends Paid	$2.6B	$2.6B+1.8%	$2.6B+1.1%	$2.5B+1.0%	$2.5B+2.5%	$2.4B+3.4%	$2.4B+9.2%	$2.2B+33.7%	$1.6B+44.5%	$1.1B+0.2%	$1.1B-73.5%	$4.2B+140.0%	$1.8B+8.5%	$1.6B+37.0%	$1.2B+53.8%	$770.0M
Share Buybacks	N/A	$0-100.0%	$7.0M-98.7%	$522.0M+41.8%	$368.0M	$0-100.0%	$50.0M+2400.0%	$2.0M-99.3%	$273.0M+9.2%	$250.0M	$0	N/A	$94.0M-45.3%	$172.0M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$2.0B+18.9%	$1.5B+28.3%	$1.7B+12.1%	$1.4B+13.2%	$1.6B-2.3%	$1.2B-2.3%	$1.5B-35.0%	$1.2B-2.9%
Depreciation & Amortization	$620.0M+0.6%	$633.0M+3.8%	$618.0M+3.7%	$609.0M+3.7%	$616.0M+5.5%	$610.0M+3.9%	$596.0M+5.1%	$587.0M+4.6%
Capital Expenditures	$982.0M+51.8%	$804.0M+5.0%	$820.0M+6.2%	$793.0M+20.7%	$647.0M+11.4%	$766.0M+23.7%	$772.0M+22.9%	$657.0M+1.5%
Free Cash Flow	$978.0M-2.4%	$687.0M+73.5%	$872.0M+18.2%	$621.0M+4.9%	$1.0B-9.4%	$396.0M-30.5%	$738.0M-56.4%	$592.0M-7.4%
Investing Cash Flow	-$1.6B-148.3%	-$803.0M+43.2%	-$477.0M+38.1%	-$663.0M+3.4%	-$625.0M-4.2%	-$1.4B-147.2%	-$771.0M+68.4%	-$686.0M-6.0%
Financing Cash Flow	-$469.0M+58.2%	-$617.0M-285.3%	-$1.2B-88.6%	-$815.0M-47.1%	-$1.1B-1.4%	$333.0M+158.4%	-$657.0M-652.1%	-$554.0M+47.8%
Dividends Paid	$665.0M+1.7%	$654.0M+1.9%	$654.0M+1.9%	$654.0M+1.7%	$654.0M+2.0%	$642.0M+1.7%	$642.0M+1.7%	$643.0M+1.4%
Share Buybacks	N/A	N/A	$0	$0	$0	$0-100.0%	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Stock-Based Compensation.

KMI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KMI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	67.4%-3.9pp	71.3%+3.5pp	67.8%+16.0pp	51.8%-9.1pp	60.9%-17.3pp	78.3%+2.9pp	75.3%+6.6pp	68.7%+0.4pp	68.3%-5.4pp	73.7%+1.9pp	71.8%+10.5pp	61.3%-1.4pp	62.7%-6.7pp	69.3%+10.6pp	58.7%
Operating Margin	27.9%-1.1pp	29.0%+1.2pp	27.8%+6.6pp	21.2%+3.6pp	17.6%+4.2pp	13.3%-23.6pp	36.9%+10.1pp	26.8%+1.1pp	25.8%-1.3pp	27.1%+10.1pp	17.0%-10.4pp	27.4%-1.0pp	28.4%+2.4pp	26.0%+8.1pp	17.9%
Net Margin	18.0%+0.7pp	17.3%+1.7pp	15.6%+2.3pp	13.3%+2.5pp	10.7%+9.7pp	1.0%-15.6pp	16.6%+5.2pp	11.4%+10.0pp	1.3%-4.1pp	5.4%+3.7pp	1.8%-4.6pp	6.3%-2.2pp	8.5%+5.3pp	3.2%-4.3pp	7.5%
Return on Equity	9.8%+1.3pp	8.6%+0.7pp	7.9%-0.4pp	8.3%+2.5pp	5.8%+5.4pp	0.4%-6.1pp	6.5%+1.7pp	4.8%+4.2pp	0.5%-1.5pp	2.1%+1.3pp	0.7%-2.3pp	3.0%-6.1pp	9.1%+6.8pp	2.3%-4.7pp	6.9%
Return on Assets	4.2%+0.5pp	3.7%+0.3pp	3.4%-0.3pp	3.6%+1.1pp	2.5%+2.4pp	0.2%-2.8pp	2.9%+0.9pp	2.0%+1.8pp	0.2%-0.7pp	0.9%+0.6pp	0.3%-0.9pp	1.2%-0.4pp	1.6%+1.1pp	0.5%-1.5pp	1.9%
Current Ratio	0.64+0.1x	0.49+0.1x	0.35-0.2x	0.55-0.1x	0.660.0x	0.630.0x	0.63-0.1x	0.76+0.3x	0.44-0.1x	0.55-0.1x	0.69+0.1x	0.590.0x	0.64-0.1x	0.70+0.3x	0.37
Debt-to-Equity	0.990.0x	0.98+0.1x	0.930.0x	0.92-0.1x	1.000.0x	1.02+0.1x	0.95-0.1x	1.010.0x	1.040.0x	1.08-0.1x	1.210.0x	1.18-1.4x	2.59+0.3x	2.31+0.6x	1.68
Asset Turnover	0.230.0x	0.210.0x	0.22-0.1x	0.270.0x	0.24+0.1x	0.160.0x	0.180.0x	0.180.0x	0.170.0x	0.160.0x	0.170.0x	0.200.0x	0.190.0x	0.15-0.1x	0.26
FCF Margin	17.1%-2.8pp	19.9%-7.3pp	27.2%+9.8pp	17.4%-9.2pp	26.7%+2.4pp	24.3%+5.5pp	18.8%+3.6pp	15.1%+4.8pp	10.3%-4.1pp	14.4%+4.5pp	9.8%+4.6pp	5.2%-0.1pp	5.3%-2.5pp	7.9%-6.8pp	14.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	68.6%-1.4pp	63.8%-1.4pp	67.9%-1.0pp	66.3%-6.0pp	70.0%-2.9pp	65.2%-6.0pp	68.9%+2.3pp	72.3%+8.3pp
Operating Margin	30.1%+1.6pp	29.9%+2.9pp	30.3%+2.5pp	25.6%-1.8pp	28.5%-0.6pp	27.0%-4.8pp	27.8%+0.5pp	27.4%+3.4pp
Net Margin	19.4%+1.7pp	20.2%+3.3pp	22.1%+5.4pp	15.2%-1.8pp	17.7%+1.6pp	16.9%-2.5pp	16.7%+2.0pp	16.9%+3.3pp
Return on Equity	2.7%+0.4pp	3.1%+0.8pp	3.2%+1.0pp	2.0%0.0pp	2.3%+0.4pp	2.3%-0.1pp	2.2%+0.2pp	2.1%+0.3pp
Return on Assets	1.2%+0.2pp	1.3%+0.3pp	1.4%+0.4pp	0.9%0.0pp	1.0%+0.2pp	1.0%-0.1pp	0.9%+0.1pp	0.9%+0.1pp
Current Ratio	0.46-0.2x	0.52+0.1x	0.64+0.1x	0.63+0.2x	0.68+0.3x	0.45-0.1x	0.49+0.1x	0.46+0.1x
Debt-to-Equity	0.94-0.1x	0.950.0x	0.990.0x	1.020.0x	1.04+0.1x	0.980.0x	0.98+0.1x	0.99+0.1x
Asset Turnover	0.060.0x	0.070.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.060.0x	0.050.0x
FCF Margin	21.8%-2.9pp	14.2%+4.9pp	19.3%+0.8pp	15.0%-1.0pp	24.8%-6.2pp	9.3%-5.5pp	18.5%-23.4pp	16.0%-0.4pp

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

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Kinder Morgan, Inc. KMI	FY2025	$16.9B	$3.1B	18.0%	$72.3B	52/100
Enterprise Products Partners L.P. EPD	FY2025	$52.6B	$5.8B	11.1%	$79.4B	52/100
Energy Transfer LP ET	FY2025	$85.5B	$4.4B	5.2%	$71.0B	49/100
Williams Companies Inc. WMB	FY2025	$11.9B	$2.6B	21.9%	$88.5B	52/100
Cheniere Energy Inc LNG	FY2025	$20.0B	$6.8B	34.0%	$57.4B	58/100

Where Kinder Morgan, Inc. Ranks

Frequently Asked Questions

What is Kinder Morgan, Inc.'s annual revenue?

Kinder Morgan, Inc. (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.'s revenue growing?

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

Is Kinder Morgan, Inc. profitable?

Yes, Kinder Morgan, Inc. (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.'s EBITDA?

Kinder Morgan, Inc. (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. have?

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

What is Kinder Morgan, Inc.'s gross margin?

Kinder Morgan, Inc. (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.'s operating margin?

Kinder Morgan, Inc. (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.'s net profit margin?

Kinder Morgan, Inc. (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. pay dividends?

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

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

Kinder Morgan, Inc. (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.'s free cash flow?

Kinder Morgan, Inc. (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.'s operating cash flow?

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

What are Kinder Morgan, Inc.'s total assets?

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

What are Kinder Morgan, Inc.'s capital expenditures?

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

How many shares does Kinder Morgan, Inc. have outstanding?

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

What is Kinder Morgan, Inc.'s current ratio?

Kinder Morgan, Inc. (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.'s debt-to-equity ratio?

Kinder Morgan, Inc. (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.'s return on assets (ROA)?

Kinder Morgan, Inc. (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.'s P/E ratio?

Kinder Morgan, Inc. (KMI) trades at 20.9x earnings, its market capitalization divided by net income of $3.5B net income, trailing 12 months to June 30, 2026. The market capitalization is $72.3B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Kinder Morgan, Inc.'s price-to-sales ratio?

Kinder Morgan, Inc. (KMI) trades at 4.0x sales, its market capitalization divided by revenue of $18.0B revenue, trailing 12 months to June 30, 2026. The market capitalization is $72.3B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

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

Kinder Morgan, Inc. (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.'s Piotroski F-Score?

Kinder Morgan, Inc. (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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kinder Morgan, Inc.'s earnings high quality?

Kinder Morgan, Inc. (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.

Can Kinder Morgan, Inc. cover its interest payments?

Kinder Morgan, Inc. (KMI) has an interest coverage ratio of 2.62x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Kinder Morgan, Inc.?

Kinder Morgan, Inc. (KMI) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.