Kinder Morgan, Inc.

Utilities
Natural Gas Distribution
www.kindermorgan.com

Earnings Score
Moat Score
Safety Score

Market Cap $60.81B
PE 24
Debt $33.01B
Cash $295.00M
EV $93.52B
FCF $2.83B

Earnings

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Sales & Net Margins

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Earnings	$2.58B
EBIT	$4.31B
ROE	8%
ROA	6%
FCF	$2.83B
Equity	$31.93B
Growth Stability	10%
PE	23.53
PEG	0.36
PB	1.9
P/FCF	21.47
P/S	3.92
Price/Cash	0
Debt/Equity	1.03
Debt/FCF	11.66
Net Margins	17%
Gross Margins	70%
Op. Margins	28%
Earnings CAGR	33%
Sales Growth YoY	10%
Sales Growth QoQ	6%
Sales CAGR	3%
FCF CAGR	12%
Equity CAGR	-2%
Earnings Stability	0.35
Earnings Growth YoY	-4%
Earnings Growth QoQ	7%
Earnings CAGR 5Y	65%

Sales CAGR 5Y	5%
FCF CAGR 5Y	0%
Equity CAGR 5Y	-0%
Earnings CAGR 3Y	-9%
Sales CAGR 3Y	-9%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	-0%
Market Cap	$60.81B
Revenue	$15.50B
Dividend Yield	4%
Payout Ratio	99%
Assets	$72.32B
Total Debt	$33.01B
Cash	$295.00M
Shares Outstanding	2.22B
EV	93.52B
Earnings Score	31%
Moat Score	84%
Safety Score	45%
Final Score	53%
Working Capital	-3.2B
Current Ratio	0.45
Gross Profit	$10.79B
Shares Growth 3y	-1%
Equity Growth QoQ	0%
Equity Growth YoY	1%

Assets & ROA

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Stockholders Equity & ROE

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Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 83,000 miles in pipelines and over 140 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.

SEC Filings

Direct access to Kinder Morgan, Inc. (KMI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Kinder Morgan, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Kinder Morgan, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 33%

Stability 35%

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Kinder Morgan, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Kinder Morgan, Inc..

Years

Calculation mode

= $64B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.8B	$3.2B	$3.5B	$3.9B	$4.4B	$4.9B	$5.5B	$6.2B	$6.9B	$7.7B	$8.6B	$86B
DCF		$2.9B	$2.9B	$3B	$3B	$3.1B	$3.1B	$3.2B	$3.2B	$3.3B	$3.3B	$33B
Value	$64B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	1%	4%	0%	10%	17%	1%	11%	13%	16%	17%	17%
ROA	-	4%	4%	5%	7%	2%	4%	6%	6%	6%	6%
ROE	-	2%	0%	4%	6%	0%	6%	8%	8%	8%	8%

Good Net Margins (16.91%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	21.84	28.13	17.45	13.88	12.65	7.92	10.48	8.62	11.24	11.66
Debt over Equity	1.23	1.2	1.13	1.08	1.01	1.13	1.1	1.09	1.13	1.06	1.03
Growth Stability	-	-	-	100%	100%	10%	100%	100%	100%	100%	10%

Bad Debt/FCF ratio (11.66)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.03)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (10%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-9%	5%	3%	-7%	-11%	42%	16%	-20%	-2%	5%
Earnings YoY growth	-	165%	-95%	5K%	48%	-95%	1K%	43%	-6%	9%	65%
Equity YoY growth	-	-2%	1%	-2%	-1%	-7%	0%	1%	-1%	0%	-0%
FCF YoY growth	-	35%	-26%	51%	16%	15%	56%	-24%	25%	-28%	0%