Kinetik Holdings Inc Financials

KNTK

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 62/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Kinetik Holdings Inc has an operating margin of 12.1%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is down from 12.7% the prior year.

Growth

Kinetik Holdings Inc's revenue surged 18.0% year-over-year to $1.5B, reflecting rapid business expansion. This strong growth earns a score of 80/100.

Liquidity

Kinetik Holdings Inc's current ratio of 0.70 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.

Cash Flow

100

Kinetik Holdings Inc converts 25.2% of revenue into free cash flow ($373.8M). This strong cash generation earns a score of 100/100.

Altman Z-Score Distress

-0.17

Kinetik Holdings Inc scores -0.17, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.7B) relative to total liabilities ($9.8B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

5/9

Kinetik Holdings Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.61x

For every $1 of reported earnings, Kinetik Holdings Inc generates $2.61 in operating cash flow ($637.3M OCF vs $244.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

0.8x

Kinetik Holdings Inc earns $0.8 in operating income for every $1 of interest expense ($179.2M vs $218.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Kinetik Holdings Inc (KNTK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).

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Key Financial Metrics

Revenue

$1.5B

YoY+18.0%

5Y CAGR+61.3%

Kinetik Holdings Inc generated $1.5B in revenue in fiscal year 2024. This represents an increase of 18.0% from the prior year.

EBITDA

$503.4M

YoY+14.4%

Kinetik Holdings Inc's EBITDA was $503.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 14.4% from the prior year.

Free Cash Flow

$373.8M

YoY+37.6%

Kinetik Holdings Inc generated $373.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 37.6% from the prior year.

Net Income

$244.2M

YoY-36.8%

Kinetik Holdings Inc reported $244.2M in net income in fiscal year 2024. This represents a decrease of 36.8% from the prior year.

EPS (Diluted)

$1.02

YoY-59.5%

Kinetik Holdings Inc earned $1.02 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 59.5% from the prior year.

Cash & Debt

$3.6M

YoY-20.0%

5Y CAGR-9.6%

Kinetik Holdings Inc held $3.6M in cash against $3.4B in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

12.1%

YoY-0.6pp

5Y CAGR+958.9pp

Kinetik Holdings Inc's operating margin was 12.1% in fiscal year 2024, reflecting core business profitability. This is down 0.6 percentage points from the prior year.

Net Margin

16.5%

YoY-14.3pp

5Y CAGR+994.2pp

Kinetik Holdings Inc's net profit margin was 16.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 14.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Kinetik Holdings Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$263.5M

YoY-15.8%

5Y CAGR-5.1%

Kinetik Holdings Inc invested $263.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 15.8% from the prior year.

KNTK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.5B+18.0%	$1.3B+3.5%	$1.2B+83.3%	$662.0M+61.4%	$410.2M+202.0%	$135.8M
Cost of Revenue	$620.6M+20.3%	$515.7M-4.8%	$541.5M+131.8%	$233.6M+259.1%	$65.1M+16.5%	$55.9M
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$134.2M+37.0%	$97.9M+3.9%	$94.3M+229.7%	$28.6M+24.7%	$22.9M+122.5%	$10.3M
Operating Income	$179.2M+12.5%	$159.3M+5.8%	$150.5M+181.3%	$53.5M+105.2%	-$1.0B+20.6%	-$1.3B
Interest Expense	$218.1M+0.1%	$217.9M+53.0%	$142.4M+35.8%	$104.9M-25.0%	$139.7M+2088.8%	$6.4M
Income Tax	$23.0M+109.9%	-$232.9M-9003.2%	$2.6M+40.3%	$1.9M+92.7%	$968K-98.5%	$64.9M
Net Income	$244.2M-36.8%	$386.5M+54.1%	$250.7M+16817.7%	$1.5M+100.1%	-$1.2B+12.9%	-$1.3B
EPS (Diluted)	$1.02-59.5%	$2.52+71.4%	$1.47	$0.00	$0.00+100.0%	$-95.70

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$464.0M+8.7%	$426.7M-3.7%	$443.3M+14.9%	$385.7M+7.3%	$359.5M+5.3%	$341.4M-2.1%	$348.9M+5.6%	$330.3M
Cost of Revenue	$235.4M+50.2%	$156.7M-29.8%	$223.4M+27.0%	$175.8M+20.0%	$146.5M-4.7%	$153.7M+8.5%	$141.6M-4.2%	$147.8M
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$30.1M+24.1%	$24.2M-35.5%	$37.6M-4.4%	$39.3M+26.4%	$31.1M-8.9%	$34.1M+37.8%	$24.8M+8.9%	$22.8M
Operating Income	$19.8M-74.5%	$77.5M+301.7%	$19.3M-18.5%	$23.7M-58.2%	$56.6M+116.8%	$26.1M-53.5%	$56.1M+46.2%	$38.4M
Interest Expense	$64.3M+8.8%	$59.1M+3.5%	$57.0M+11.4%	$51.2M-3.7%	$53.2M+13.8%	$46.7M-40.4%	$78.3M+56.0%	$50.2M
Income Tax	$1.1M-84.9%	$7.3M+185.4%	$2.6M+44.7%	$1.8M-80.7%	$9.2M+143.3%	$3.8M+101.6%	-$234.9M-18130.5%	$1.3M
Net Income	$5.3M-77.7%	$23.6M+22.8%	$19.3M+136.8%	-$52.3M-240.6%	$37.2M-84.1%	$233.6M+204.1%	-$224.3M-204.2%	$215.3M
EPS (Diluted)	$0.03-90.9%	$0.33+560.0%	$0.05+400.0%	$0.01-98.1%	$0.54+350.0%	$0.12-93.9%	$1.96+833.3%	$0.21

KNTK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$6.8B+4.9%	$6.5B+9.7%	$5.9B+66.6%	$3.6B+97.4%	$1.8B+19.9%	$1.5B
Current Assets	$294.8M+14.6%	$257.3M+6.4%	$241.9M+11.2%	$217.5M+408.6%	$42.8M+34.8%	$31.7M
Cash & Equivalents	$3.6M-20.0%	$4.5M-29.5%	$6.4M-65.9%	$18.7M-22.6%	$24.2M+304.3%	$6.0M
Inventory	$3.6M+16.1%	$3.1M-35.4%	$4.8M+128.6%	$2.1M-41.6%	$3.6M-10.7%	$4.0M
Accounts Receivable	$111.9M-48.1%	$215.7M+5.7%	$204.0M+14.6%	$178.1M	N/A	N/A
Goodwill	$5.1M0.0%	$5.1M0.0%	$5.1M	$0	N/A	N/A
Total Liabilities	$9.8B+39.3%	$7.0B+4.0%	$6.8B+90.2%	$3.6B+97.4%	$1.8B+19.9%	$1.5B
Current Liabilities	$418.6M+67.3%	$250.1M+9.8%	$227.8M-5.4%	$240.9M+703.5%	$30.0M-11.0%	$33.7M
Long-Term Debt	$3.4B-5.7%	$3.6B+5.9%	$3.4B+44.7%	$2.3B+276.0%	$624.0M+57.6%	$396.0M
Total Equity	-$3.0B-460.8%	-$530.8M+36.8%	-$839.8M-8397850.0%	$10K0.0%	$10K+11.1%	$9K
Retained Earnings	-$3.0B-311.4%	-$723.5M+24.5%	-$958.6M	$0+100.0%	-$369.4M+5.9%	-$392.6M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$7.2B+0.7%	$7.2B+1.7%	$7.0B+3.2%	$6.8B-0.7%	$6.9B+6.4%	$6.4B-0.8%	$6.5B+3.4%	$6.3B
Current Assets	$315.1M+0.8%	$312.6M-0.8%	$315.0M+6.9%	$294.8M-1.5%	$299.3M+16.3%	$257.3M0.0%	$257.3M-10.8%	$288.5M
Cash & Equivalents	$7.7M-27.9%	$10.7M+21.3%	$8.8M+145.3%	$3.6M-71.3%	$12.5M+28.6%	$9.8M+116.3%	$4.5M+6532.4%	$68K
Inventory	N/A	N/A	N/A	$3.6M	N/A	N/A	$3.1M-65.9%	$9.1M
Accounts Receivable	$77.4M+23.0%	$62.9M-48.7%	$122.5M+9.5%	$111.9M+18.5%	$94.4M-55.0%	$209.9M-2.7%	$215.7M-6.4%	$230.6M
Goodwill	$5.1M0.0%	$5.1M0.0%	$5.1M0.0%	$5.1M-67.2%	$15.5M+205.1%	$5.1M0.0%	$5.1M0.0%	$5.1M
Total Liabilities	$9.0B+3.0%	$8.7B-9.0%	$9.6B-2.2%	$9.8B+21.4%	$8.1B+8.7%	$7.4B+5.6%	$7.0B-1.4%	$7.1B
Current Liabilities	$504.3M+0.5%	$501.8M+5.6%	$475.3M+13.6%	$418.6M+4.9%	$398.9M+70.5%	$234.0M-6.5%	$250.1M-0.4%	$251.1M
Long-Term Debt	$4.0B+5.8%	$3.8B+4.7%	$3.6B+6.0%	$3.4B+3.1%	$3.3B-7.3%	$3.5B-1.3%	$3.6B-1.0%	$3.6B
Total Equity	-$1.8B-13.4%	-$1.6B+38.6%	-$2.5B+14.3%	-$3.0B-146.6%	-$1.2B-24.0%	-$973.4M-83.4%	-$530.8M+36.7%	-$838.0M
Retained Earnings	-$2.0B-12.1%	-$1.8B+31.9%	-$2.6B+12.1%	-$3.0B-146.6%	-$1.2B-24.0%	-$973.5M-34.5%	-$723.5M+22.2%	-$929.8M

KNTK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$637.3M+9.0%	$584.5M-4.7%	$613.0M+160.2%	$235.6M+130.7%	$102.1M+33.9%	$76.3M
Capital Expenditures	$263.5M-15.8%	$312.9M+51.8%	$206.2M+164.2%	$78.0M-57.0%	$181.4M-47.1%	$342.6M
Free Cash Flow	$373.8M+37.6%	$271.6M-33.2%	$406.8M+158.3%	$157.5M+298.6%	-$79.3M+70.2%	-$266.4M
Investing Cash Flow	-$176.9M+74.2%	-$686.3M-139.9%	-$286.1M-187.2%	-$99.6M+80.3%	-$505.6M+66.4%	-$1.5B
Financing Cash Flow	-$461.4M-561.6%	$100.0M+129.5%	-$339.2M-147.9%	-$136.8M-136.7%	$372.8M-62.1%	$983.5M
Dividends Paid	$175.2M+115.4%	$81.4M+107.0%	$39.3M	$0	$0	$0
Share Buybacks	$0-100.0%	$5.8M	$0	$0	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$188.1M+45.7%	$129.1M-27.0%	$176.8M+22.8%	$144.0M+14.7%	$125.5M-18.3%	$153.7M-14.1%	$178.9M+2.5%	$174.5M
Capital Expenditures	$156.5M+23.0%	$127.3M+70.8%	$74.5M-30.8%	$107.7M+173.6%	$39.4M-32.1%	$58.0M-13.6%	$67.1M-21.7%	$85.6M
Free Cash Flow	$31.6M+1672.8%	$1.8M-98.3%	$102.3M+182.2%	$36.3M-57.9%	$86.1M-10.0%	$95.7M-14.4%	$111.8M+25.8%	$88.9M
Investing Cash Flow	-$171.3M-30.3%	-$131.5M+49.5%	-$260.1M-134.4%	-$111.0M-205.4%	$105.3M+269.9%	-$62.0M+40.2%	-$103.7M+23.0%	-$134.7M
Financing Cash Flow	-$19.8M-562.8%	$4.3M-95.2%	$88.5M+277.6%	-$49.8M+78.1%	-$228.0M-163.7%	-$86.5M-22.3%	-$70.7M-68.4%	-$42.0M
Dividends Paid	$48.6M+1.3%	$48.0M+2.1%	$47.0M+0.4%	$46.8M+4.5%	$44.8M+15.6%	$38.7M+66.1%	$23.3M+6.8%	$21.8M
Share Buybacks	$100.0M	N/A	N/A	$0	$0	$0	$0	$0

KNTK Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	12.1%-0.6pp	12.7%+0.3pp	12.4%+4.3pp	8.1%+256.9pp	-248.8%+698.1pp	-946.8%
Net Margin	16.5%-14.3pp	30.8%+10.1pp	20.7%+20.4pp	0.2%+282.0pp	-281.8%+695.9pp	-977.7%
Return on Equity	N/A	N/A	N/A	14820.0%	N/A	N/A
Return on Assets	3.6%-2.4pp	5.9%+1.7pp	4.2%+4.2pp	0.0%+64.3pp	-64.2%+24.2pp	-88.5%
Current Ratio	0.70-0.3	1.03-0.0	1.06+0.2	0.90-0.5	1.43+0.5	0.94
Debt-to-Equity	-1.14+5.6	-6.77-2.7	-4.04-234622.7	234618.70+172218.7	62400.00+18400.0	44000.00
FCF Margin	25.2%+3.6pp	21.6%-11.9pp	33.5%+9.7pp	23.8%+43.1pp	-19.3%+176.8pp	-196.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	4.3%-13.9pp	18.1%+13.8pp	4.3%-1.8pp	6.1%-9.6pp	15.7%+8.1pp	7.6%-8.4pp	16.1%+4.5pp	11.6%
Net Margin	1.1%-4.4pp	5.5%+1.2pp	4.3%+17.9pp	-13.6%-23.9pp	10.3%-58.1pp	68.4%+132.7pp	-64.3%-129.5pp	65.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.1%-0.3pp	0.3%+0.1pp	0.3%+1.0pp	-0.8%-1.3pp	0.5%-3.1pp	3.6%+7.1pp	-3.5%-6.9pp	3.4%
Current Ratio	0.620.0	0.62-0.0	0.66-0.0	0.70-0.0	0.75-0.3	1.10+0.1	1.03-0.1	1.15
Debt-to-Equity	-2.24+0.2	-2.40-1.0	-1.41-0.3	-1.14+1.6	-2.72+0.9	-3.64+3.1	-6.77-2.4	-4.33
FCF Margin	6.8%+6.4pp	0.4%-22.7pp	23.1%+13.7pp	9.4%-14.6pp	24.0%-4.1pp	28.0%-4.0pp	32.1%+5.1pp	26.9%

Note: Shareholder equity is negative (-$3.0B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.70), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Kinetik Holdings Inc's annual revenue?

Kinetik Holdings Inc (KNTK) reported $1.5B in total revenue for fiscal year 2024. This represents a 18.0% 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 Kinetik Holdings Inc's revenue growing?

Kinetik Holdings Inc (KNTK) revenue grew by 18% year-over-year, from $1.3B to $1.5B in fiscal year 2024.

Is Kinetik Holdings Inc profitable?

Yes, Kinetik Holdings Inc (KNTK) reported a net income of $244.2M in fiscal year 2024, with a net profit margin of 16.5%.

What is Kinetik Holdings Inc's earnings per share (EPS)?

Kinetik Holdings Inc (KNTK) reported diluted earnings per share of $1.02 for fiscal year 2024. This represents a -59.5% 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 Kinetik Holdings Inc's EBITDA?

Kinetik Holdings Inc (KNTK) had EBITDA of $503.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Kinetik Holdings Inc have?

As of fiscal year 2024, Kinetik Holdings Inc (KNTK) had $3.6M in cash and equivalents against $3.4B in long-term debt.

What is Kinetik Holdings Inc's operating margin?

Kinetik Holdings Inc (KNTK) had an operating margin of 12.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Kinetik Holdings Inc's net profit margin?

Kinetik Holdings Inc (KNTK) had a net profit margin of 16.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Kinetik Holdings Inc's free cash flow?

Kinetik Holdings Inc (KNTK) generated $373.8M in free cash flow during fiscal year 2024. This represents a 37.6% 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 Kinetik Holdings Inc's operating cash flow?

Kinetik Holdings Inc (KNTK) generated $637.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Kinetik Holdings Inc's total assets?

Kinetik Holdings Inc (KNTK) had $6.8B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Kinetik Holdings Inc's capital expenditures?

Kinetik Holdings Inc (KNTK) invested $263.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Kinetik Holdings Inc's current ratio?

Kinetik Holdings Inc (KNTK) had a current ratio of 0.70 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Kinetik Holdings Inc's debt-to-equity ratio?

Kinetik Holdings Inc (KNTK) had a debt-to-equity ratio of -1.14 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kinetik Holdings Inc's return on assets (ROA)?

Kinetik Holdings Inc (KNTK) had a return on assets of 3.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Why is Kinetik Holdings Inc's debt-to-equity ratio negative or unusual?

Kinetik Holdings Inc (KNTK) has negative shareholder equity of -$3.0B as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Kinetik Holdings Inc's Altman Z-Score?

Kinetik Holdings Inc (KNTK) has an Altman Z-Score of -0.17, 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 Kinetik Holdings Inc's Piotroski F-Score?

Kinetik Holdings Inc (KNTK) has a Piotroski F-Score of 5 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 Kinetik Holdings Inc's earnings high quality?

Kinetik Holdings Inc (KNTK) has an earnings quality ratio of 2.61x, 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 Kinetik Holdings Inc cover its interest payments?

Kinetik Holdings Inc (KNTK) has an interest coverage ratio of 0.8x, meaning it can struggle to 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 Kinetik Holdings Inc?

Kinetik Holdings Inc (KNTK) scores 62 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.