15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.5% per year over the past 5 years.
Net income has grown faster than revenue (91.4% vs 8.5% per year).
Operating margin has expanded, at 31.1% in the latest year.
Free cash flow has grown 0.3% per year over the past 5 years.
Financial health
Total debt ($30.8B) exceeds cash ($63M); net debt is $30.7B.
Total debt has grown slower than revenue (-0.9% vs 8.5% per year).
Total debt is 4.3× EBITDA.
Shareholder returns
Dividends have been paid for 10 consecutive years, consuming 85.2% of earnings and 90.1% of free cash flow.
The dividend has grown 2.0% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$15.2B
$3.1B
0.0%
31.1%
$2.9B
$30.8B
$63M
2024
$13.5B
$2.6B
0.0%
32.5%
$3.0B
$29.9B
$88M
2023
$13.6B
$2.4B
0.0%
31.2%
$4.2B
$28.1B
$83M
2022
$18.1B
$2.5B
48.9%
22.4%
$3.3B
$28.4B
$745M
2021
$16.2B
$1.8B
59.8%
18.1%
$4.4B
$30.7B
$1.1B
2020
$10.1B
$119M
74.8%
15.5%
$2.8B
$32.1B
$1.2B
2019
$12.1B
$2.2B
73.0%
40.3%
$2.5B
$31.9B
$185M
2018
$13.3B
$1.6B
66.8%
28.5%
$2.1B
$36.6B
$3.3B
2017
—
$183M
—
—
$1.4B
$36.9B
$264M
2016
—
$708M
—
—
$1.9B
$38.9B
$684M
2015
—
$253M
—
—
$1.4B
$43.4B
$229M
2014
—
$1.0B
—
—
$850M
$42.8B
$315M
2013
—
$1.2B
—
—
$753M
$36.2B
$598M
2012
—
$315M
—
—
$786M
$29.3B
$714M
2011
—
$594M
—
—
$1.2B
$13.2B
$411M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$4.5B
$976M
0.0%
32.4%
$687M
$29.9B
$72M
Dec '25
$4.0B
$996M
0.0%
34.0%
$872M
$30.8B
$63M
Sep '25
$3.7B
$628M
0.0%
28.6%
$621M
$31.5B
$71M
Jun '25
$3.6B
$715M
0.0%
31.9%
$1.0B
$31.9B
$82M
Mar '25
$3.9B
$717M
0.0%
29.6%
$396M
$30.0B
$80M
Dec '24
$3.6B
$667M
0.0%
31.0%
$738M
$29.9B
$88M
Sep '24
$3.3B
$625M
0.0%
30.9%
$592M
$30.0B
$108M
Jun '24
$3.2B
$575M
0.0%
32.3%
$1.1B
$28.6B
$98M
Mar '24
$3.4B
$746M
0.0%
35.9%
$570M
$30.2B
$119M
Dec '23
$3.6B
$594M
0.0%
30.9%
$1.7B
$28.1B
$83M
Sep '23
$3.5B
$532M
0.0%
26.5%
$639M
$27.9B
$80M
Jun '23
$3.1B
$586M
0.0%
33.2%
$1.0B
$28.6B
$497M
Mar '23
$3.4B
$679M
0.0%
34.7%
$826M
$29.3B
$416M
Dec '22
$4.2B
$670M
52.8%
26.6%
$927M
$28.4B
$745M
Sep '22
$4.9B
$576M
44.4%
19.0%
$550M
$29.1B
$483M
Jun '22
$5.0B
$635M
46.3%
20.2%
$1.2B
$28.6B
$100M
Mar '22
$4.1B
$667M
53.7%
25.0%
$677M
$28.8B
$84M
Dec '21
$4.1B
$637M
51.9%
23.0%
$881M
$30.7B
$1.1B
Sep '21
$3.6B
$495M
56.9%
23.3%
$780M
$30.0B
$102M
Jun '21
$2.9B
-$757M
67.8%
-26.3%
$1.2B
$31.1B
$1.4B
Valuation over time
How the market has priced KMI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 15.3× (Mar '23) to 24.0× (Jun '26).
The price-to-sales ratio has risen from 2.2× (Mar '23) to 4.8× (Jun '26).
The dividend yield has fallen from 6.4% (Mar '23) to 3.5% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is KMI growing its revenue and profit?
Over the past 5 years, Kinder Morgan's revenue has grown 8.5% per year, and net income grown 91.4% per year. These are computed facts, not advice.
How much debt does KMI have?
As of FY2025, Kinder Morgan reported $30.8B of total debt against $63M of cash.
What is KMI's profit margin?
In FY2025, gross margin was —, operating margin 31.1%, and net margin 20.1%.
What is KMI's P/E ratio?
As of Jun '26, Kinder Morgan traded at a price-to-earnings ratio of about 24.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.