Kinder Morgan, Inc. (KMI)

Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America. It operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities. The Products Pipelines segment owns and operates refined petroleum products, and crude oil and condensate pipelines; and associated product terminals and petroleum pipeline transmix facilities. The Terminals segment owns and/or operates liquids and bulk terminals that stores and handles various commodities, including gasoline, diesel fuel, renewable fuel and feedstocks, chemicals, ethanol, metals, and petroleum coke; and owns tankers. The CO2 segment produces, transports, and markets CO2 to recovery and production crude oil from mature oil fields; owns interests in/or operates oil fields and gasoline processing plants; and operates a crude oil pipeline system in West Texas, as well as owns and operates RNG and LNG facilities. The company was formerly known as Kinder Morgan Holdco LLC and changed its name to Kinder Morgan, Inc. in February 2011. Kinder Morgan, Inc. was founded in 1997 and is headquartered in Houston, Texas.

Symbol
KMI
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Midstream
Market cap
$69.13B
52 week range
25.6 - 34.81

Valuation

Share price
$31.07 (close of 2026-10-02)
P/E (TTM)
19.92x
Price to book
2.10x
Price to free cash flow
21.89x
Enterprise value
$101.18B
Book value per share
$14.78

Price performance

PeriodChange
1 day+1.77%
5 days+1.04%
1 month-2.82%
3 months-3.09%
6 months-5.76%
Year to date+13.02%
1 year+10.10%
3 years+92.26%
5 years+83.74%
10 years+34.33%
All time+0.06%

Members of Congress who disclosed KMI trades

Gilbert Ray Cisneros · Marjorie Taylor Greene · Lisa McClain · Ritchie Torres · Alan Armstrong · Dwight Evans · Rick Allen

Super investors holding KMI

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity
9.42%
Return on invested capital
6.07%
Return on assets
4.20%
Return on capital employed
6.90%
Gross margin
35.97%
Net margin
20.10%
EBITDA margin
47.21%
Revenue growth
12.75%
Net income growth
16.95%
Free cash flow growth
-3.83%

Cash flow and balance sheet

Free cash flow yield (TTM)
4.57%
Current ratio
0.46x
Net debt to EBITDA
4.16x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$15.20B
Cost of revenue
$9.73B
Gross profit
$5.47B
EBITDA
$7.18B
Net income
$3.06B
Earnings per share
$1.37
Shares outstanding
2.22B

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$15.20B$5.47B$3.06B$1.37
2024-12-31$13.48B$5.10B$2.61B$1.17
2023-12-31$13.65B$4.93B$2.39B$1.06
2022-12-31$18.13B$8.87B$2.55B$1.12
2021-12-31$16.15B$9.66B$1.78B$0.78
2020-12-31$10.10B$7.55B$119.00M$0.05
2019-12-31$12.08B$8.82B$2.19B$0.96
2018-12-31$13.32B$8.90B$1.61B$0.66
2017-12-31$13.71B$9.36B$183.00M$0.01
2016-12-31$13.06B$9.63B$708.00M$0.25

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3135.97%20.10%9.42%6.07%
2024-12-3137.80%19.38%8.20%5.83%
2023-12-3136.13%17.52%7.54%5.58%
2022-12-3148.95%14.06%7.93%5.33%
2021-12-3159.81%11.04%5.59%3.95%
2020-12-3174.79%1.18%0.37%1.64%
2019-12-3172.99%18.13%6.42%5.75%
2018-12-3166.80%12.08%4.66%4.68%
2017-12-3168.30%1.34%0.52%2.43%
2016-12-3173.74%5.42%2.03%3.53%

Cash and debt by year

Period endCashDebt
2025-12-31$63.00M$30.78B
2024-12-31$88.00M$29.88B
2023-12-31$83.00M$28.07B
2022-12-31$745.00M$28.40B
2021-12-31$1.14B$30.67B
2020-12-31$1.18B$32.13B
2019-12-31$185.00M$31.91B
2018-12-31$3.28B$33.94B
2017-12-31$264.00M$35.02B
2016-12-31$684.00M$37.35B

Free cash flow by year

Period endFree cash flow
2025-12-31$2.89B
2024-12-31$3.01B
2023-12-31$4.17B
2022-12-31$3.35B
2021-12-31$4.43B
2020-12-31$2.84B
2019-12-31$2.48B
2018-12-31$2.14B
2017-12-31$1.41B
2016-12-31$1.88B

Dividend history

Most recent payment
2026-08-03
Paid in the last twelve months
$1.18
Payment dateDividend per share
2026-08-03$0.30
2026-05-04$0.30
2026-02-02$0.29
2025-11-03$0.29
2025-07-31$0.29
2025-04-30$0.29
2025-02-03$0.29
2024-10-31$0.29

Investor relations

Next earnings report

Next confirmed report
2026-10-28
Consensus EPS estimate
$0.33

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-22Jun/2026$0.31
2026-04-22Mar/2026$0.38
2026-01-21Dec/2025$0.37
2025-10-22Sep/2025$0.29
2025-07-16Jun/2025$0.28
2025-04-16Mar/2025$0.35
2025-01-22Dec/2024$0.33
2024-10-16Sep/2024$0.27

Filings and sources

Company website
kindermorgan.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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