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Kinetik Holdings Inc Financials

KNTK
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Kinetik Holdings Inc (KNTK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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 KNTK FY2025

Cash generation before reinvestment is sturdy, but heavy capex and creditor funding sharply reduce what remains.

In the latest year, operating cash flow held near $604M while free cash flow fell to $112M, showing that the business still throws off cash before reinvestment but much less of it reached the capital-allocation stage. That gap coincided with a near-doubling in capital spending and with net income rising to $526M even as operating income slipped to $165M, so reported profit looked much stronger than the underlying operating cash economics.

The balance sheet remains creditor-financed, because liabilities still exceed assets even after multiple profitable years. With only $4.0M of cash against $441M of current liabilities, short-term flexibility depends more on steady collections and financing access than on a cash cushion.

In the latest year, interest expense of $240M exceeded operating income of $165M, which means financing costs are not a side issue; they are central to how much profit survives the operating line. That helps explain why a large earnings figure can coexist with tighter cash after reinvestment.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 46 / 100
Financial Health Score 46/100
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 Kinetik Holdings 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
56
Growth
84
Leverage
5
Liquidity
14
Cash Flow
75
Returns
40
Altman Z-Score Distress
0.42

Kinetik Holdings Inc scores 0.42, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.6B) relative to total liabilities ($7.7B). 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 Partial
5/7

Kinetik Holdings Inc passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed
1.15x

For every $1 of reported earnings, Kinetik Holdings Inc generates $1.15 in operating cash flow ($604.1M OCF vs $525.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
0.7x

Kinetik Holdings Inc earns $0.7 in operating income for every $1 of interest expense ($164.9M vs $240.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.8B
YoY+19.0%
5Y CAGR+33.9%

Kinetik Holdings Inc generated $1.8B in revenue in fiscal year 2025. This represents an increase of 19.0% from the prior year.

EBITDA
$547.6M
YoY+8.8%

Kinetik Holdings Inc's EBITDA was $547.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.8% from the prior year.

Net Income
$525.9M
YoY+115.3%

Kinetik Holdings Inc reported $525.9M in net income in fiscal year 2025. This represents an increase of 115.3% from the prior year.

EPS (Diluted)
$2.63
YoY+157.8%

Kinetik Holdings Inc earned $2.63 per diluted share (EPS) in fiscal year 2025. This represents an increase of 157.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$111.6M
YoY-70.1%

Kinetik Holdings Inc generated $111.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 70.1% from the prior year.

Cash & Debt
$4.0M
YoY+9.6%
5Y CAGR-30.4%

Kinetik Holdings Inc held $4.0M in cash against $3.7B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
9.3%
YoY-2.7pp
5Y CAGR+258.1pp

Kinetik Holdings Inc's operating margin was 9.3% in fiscal year 2025, reflecting core business profitability. This is down 2.7 percentage points from the prior year.

Net Margin
29.8%
YoY+13.3pp
5Y CAGR+311.6pp

Kinetik Holdings Inc's net profit margin was 29.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 13.3 percentage points from the prior year.

Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
$176.0M

Kinetik Holdings Inc spent $176.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$492.5M
YoY+86.9%
5Y CAGR+22.1%

Kinetik Holdings Inc invested $492.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 86.9% from the prior year.

KNTK Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $410.0M-4.7% $430.4M-7.2% $464.0M+8.7% $426.7M-3.7% $443.3M+14.9% $385.7M-2.7% $396.4M+10.3% $359.5M
Cost of Revenue $188.7M+10.7% $170.5M-27.6% $235.4M+50.2% $156.7M-29.8% $223.4M+27.0% $175.8M+21.6% $144.6M-1.3% $146.5M
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 $44.2M+14.3% $38.7M+28.5% $30.1M+24.1% $24.2M-35.5% $37.6M-4.4% $39.3M+32.7% $29.6M-4.7% $31.1M
Operating Income -$3.8M-107.9% $48.4M+144.6% $19.8M-74.5% $77.5M+301.7% $19.3M-18.5% $23.7M-67.5% $72.9M+28.8% $56.6M
Interest Expense $53.2M-10.8% $59.7M-7.2% $64.3M+8.8% $59.1M+3.5% $57.0M+11.4% $51.2M-23.7% $67.1M+26.2% $53.2M
Income Tax -$778K-102.0% $39.7M+3482.1% $1.1M-84.9% $7.3M+185.4% $2.6M+44.7% $1.8M-78.5% $8.3M-10.4% $9.2M
Net Income -$1.7M-100.3% $490.9M+9223.6% $5.3M-77.7% $23.6M+285.7% $6.1M+111.7% -$52.3M-302.9% $25.8M-30.7% $37.2M
EPS (Diluted) $-0.07 N/A $0.03-90.9% $0.33+560.0% $0.05 N/A $0.35-35.2% $0.54

KNTK Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $7.1B+0.2% $7.1B-1.5% $7.2B+0.7% $7.2B+1.7% $7.0B+3.2% $6.8B-0.7% $6.9B0.0% $6.9B
Current Assets $318.8M+5.5% $302.0M-4.1% $315.1M+0.8% $312.6M-0.8% $315.0M+6.9% $294.8M+3.1% $285.9M-4.5% $299.3M
Cash & Equivalents $720K-81.8% $4.0M-48.9% $7.7M-27.9% $10.7M+21.3% $8.8M+145.3% $3.6M-82.4% $20.4M+62.9% $12.5M
Inventory N/A $4.6M N/A N/A N/A $3.6M N/A N/A
Accounts Receivable $92.7M+8.7% $85.3M+10.2% $77.4M+23.0% $62.9M-48.7% $122.5M+9.5% $111.9M+70.6% $65.6M-30.5% $94.4M
Goodwill $5.1M0.0% $5.1M0.0% $5.1M0.0% $5.1M0.0% $5.1M0.0% $5.1M0.0% $5.1M-67.2% $15.5M
Total Liabilities $8.8B+14.6% $7.7B-14.7% $9.0B+3.0% $8.7B-9.0% $9.6B-2.2% $9.8B+14.1% $8.6B+6.4% $8.1B
Current Liabilities $537.1M+21.9% $440.5M-12.7% $504.3M+0.5% $501.8M+5.6% $475.3M+13.6% $418.6M+5.0% $398.7M0.0% $398.9M
Long-Term Debt $3.7B+0.4% $3.7B-8.3% $4.0B+5.8% $3.8B+4.7% $3.6B+6.0% $3.4B+2.5% $3.3B+0.6% $3.3B
Total Equity -$1.7B-195.2% -$565.4M+68.2% -$1.8B-13.4% -$1.6B+38.6% -$2.5B+14.3% -$3.0B-73.0% -$1.7B-42.6% -$1.2B
Retained Earnings -$1.7B-107.1% -$806.1M+59.6% -$2.0B-12.1% -$1.8B+31.9% -$2.6B+12.1% -$3.0B-73.0% -$1.7B-42.6% -$1.2B

KNTK Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $180.4M+63.9% $110.1M-41.5% $188.1M+45.7% $129.1M-27.0% $176.8M+22.8% $144.0M-32.8% $214.1M+70.6% $125.5M
Capital Expenditures $83.0M-38.1% $134.1M-14.3% $156.5M+23.0% $127.3M+70.8% $74.5M-30.8% $107.7M+84.3% $58.5M+48.5% $39.4M
Free Cash Flow $97.4M+505.3% -$24.0M-176.0% $31.6M+1672.8% $1.8M-98.3% $102.3M+182.2% $36.3M-76.7% $155.7M+80.7% $86.1M
Investing Cash Flow -$89.1M-124.5% $363.8M+312.4% -$171.3M-30.3% -$131.5M+49.5% -$260.1M-134.4% -$111.0M-1.6% -$109.2M-203.7% $105.3M
Financing Cash Flow -$94.5M+80.2% -$477.7M-2313.5% -$19.8M-562.8% $4.3M-95.2% $88.5M+277.6% -$49.8M+48.6% -$97.0M+57.4% -$228.0M
Dividends Paid $52.3M+4.2% $50.2M+3.4% $48.6M+1.3% $48.0M+2.1% $47.0M+0.4% $46.8M+4.2% $44.9M+0.3% $44.8M
Share Buybacks N/A $3.5M-96.5% $100.0M N/A N/A $0 $0 $0

KNTK Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin -0.9%-12.2pp 11.2%+7.0pp 4.3%-13.9pp 18.1%+13.8pp 4.3%-1.8pp 6.1%-12.3pp 18.4%+2.6pp 15.7%
Net Margin -0.4%-114.5pp 114.1%+112.9pp 1.1%-4.4pp 5.5%+4.2pp 1.4%+14.9pp -13.6%-20.1pp 6.5%-3.8pp 10.3%
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets -0.0%-6.9pp 6.9%+6.8pp 0.1%-0.3pp 0.3%+0.2pp 0.1%+0.9pp -0.8%-1.1pp 0.4%-0.2pp 0.5%
Current Ratio 0.59-0.1 0.69+0.1 0.620.0 0.62-0.0 0.66-0.0 0.70-0.0 0.72-0.0 0.75
Debt-to-Equity -2.20+4.3 -6.46-4.2 -2.24+0.2 -2.40-1.0 -1.41-0.3 -1.14+0.8 -1.92+0.8 -2.72
FCF Margin 23.8%+29.3pp -5.6%-12.4pp 6.8%+6.4pp 0.4%-22.7pp 23.1%+13.7pp 9.4%-29.9pp 39.3%+15.3pp 24.0%

Note: Shareholder equity is negative (-$565.4M), 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 (0.69), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Kinetik Holdings Inc (KNTK) reported $1.8B in total revenue for fiscal year 2025. This represents a 19.0% 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.

Kinetik Holdings Inc (KNTK) revenue grew by 19% year-over-year, from $1.5B to $1.8B in fiscal year 2025.

Yes, Kinetik Holdings Inc (KNTK) reported a net income of $525.9M in fiscal year 2025, with a net profit margin of 29.8%.

Kinetik Holdings Inc (KNTK) reported diluted earnings per share of $2.63 for fiscal year 2025. This represents a 157.8% 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.

Kinetik Holdings Inc (KNTK) had EBITDA of $547.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Kinetik Holdings Inc (KNTK) had $4.0M in cash and equivalents against $3.7B in long-term debt.

Kinetik Holdings Inc (KNTK) had an operating margin of 9.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Kinetik Holdings Inc (KNTK) had a net profit margin of 29.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Kinetik Holdings Inc (KNTK) generated $111.6M in free cash flow during fiscal year 2025. This represents a -70.1% 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.

Kinetik Holdings Inc (KNTK) generated $604.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Kinetik Holdings Inc (KNTK) had $7.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Kinetik Holdings Inc (KNTK) invested $492.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Kinetik Holdings Inc (KNTK) spent $176.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Kinetik Holdings Inc (KNTK) had a current ratio of 0.69 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Kinetik Holdings Inc (KNTK) had a debt-to-equity ratio of -6.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Kinetik Holdings Inc (KNTK) had a return on assets of 7.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Kinetik Holdings Inc (KNTK) has negative shareholder equity of -$565.4M as of fiscal year 2025, 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.

Kinetik Holdings Inc (KNTK) has an Altman Z-Score of 0.42, 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.

Kinetik Holdings Inc (KNTK) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.

Kinetik Holdings Inc (KNTK) has an earnings quality ratio of 1.15x, 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.

Kinetik Holdings Inc (KNTK) has an interest coverage ratio of 0.7x, 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.

Kinetik Holdings Inc (KNTK) scores 46 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.

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