KMI Financials Kinder Morgan

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 Oct 25, 2026, 10:25 UTC 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2025	$15.2B	$3.1B	0.0%	31.1%	9.8%	4.2%	$2.9B	$30.8B	$63M
2024	$13.5B	$2.6B	0.0%	32.5%	8.6%	3.7%	$3.0B	$29.9B	$88M
2023	$13.6B	$2.4B	0.0%	31.2%	7.9%	3.4%	$4.2B	$28.1B	$83M
2022	$18.1B	$2.5B	48.9%	22.4%	8.3%	3.6%	$3.3B	$28.4B	$745M
2021	$16.2B	$1.8B	59.8%	18.1%	5.8%	2.5%	$4.4B	$30.7B	$1.1B
2020	$10.1B	$119M	74.8%	15.5%	0.4%	0.2%	$2.8B	$32.1B	$1.2B
2019	$12.1B	$2.2B	73.0%	40.3%	6.5%	3.0%	$2.5B	$31.9B	$185M
2018	$13.3B	$1.6B	66.8%	28.5%	4.8%	2.0%	$2.1B	$36.6B	$3.3B
2017	—	$183M	—	—	0.5%	0.2%	$1.4B	$36.9B	$264M
2016	—	$708M	—	—	2.1%	0.9%	$1.9B	$38.9B	$684M
2015	—	$253M	—	—	0.7%	0.3%	$1.4B	$43.4B	$229M
2014	—	$1.0B	—	—	3.0%	1.2%	$850M	$42.8B	$315M
2013	—	$1.2B	—	—	9.1%	1.6%	$753M	$36.2B	$598M
2012	—	$315M	—	—	2.3%	0.5%	$786M	$29.3B	$714M
2011	—	$594M	—	—	6.9%	1.9%	$1.2B	$13.2B	$411M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Sep '26	$4.2B	$764M	0.0%	27.7%	2.4%	1.0%	$545M	$31.3B	$918M
Jun '26	$4.1B	$867M	0.0%	32.8%	2.7%	1.2%	$978M	$29.8B	$89M
Mar '26	$4.5B	$976M	0.0%	32.4%	3.1%	1.3%	$687M	$29.9B	$72M
Dec '25	$4.0B	$996M	0.0%	34.0%	3.2%	1.4%	$872M	$30.8B	$63M
Sep '25	$3.7B	$628M	0.0%	28.6%	2.0%	0.9%	$621M	$31.5B	$71M
Jun '25	$3.6B	$715M	0.0%	31.9%	2.3%	1.0%	$1.0B	$31.9B	$82M
Mar '25	$3.9B	$717M	0.0%	29.6%	2.3%	1.0%	$396M	$30.0B	$80M
Dec '24	$3.6B	$667M	0.0%	31.0%	2.2%	0.9%	$738M	$29.9B	$88M
Sep '24	$3.3B	$625M	0.0%	30.9%	2.1%	0.9%	$592M	$30.0B	$108M
Jun '24	$3.2B	$575M	0.0%	32.3%	1.9%	0.8%	$1.1B	$28.6B	$98M
Mar '24	$3.4B	$746M	0.0%	35.9%	2.5%	1.1%	$570M	$30.2B	$119M
Dec '23	$3.6B	$594M	0.0%	30.9%	2.0%	0.8%	$1.7B	$28.1B	$83M
Sep '23	$3.5B	$532M	0.0%	26.5%	1.8%	0.8%	$639M	$27.9B	$80M
Jun '23	$3.1B	$586M	0.0%	33.2%	1.9%	0.8%	$1.0B	$28.6B	$497M
Mar '23	$3.4B	$679M	0.0%	34.7%	2.2%	1.0%	$826M	$29.3B	$416M
Dec '22	$4.2B	$670M	52.8%	26.6%	2.2%	1.0%	$927M	$28.4B	$745M
Sep '22	$4.9B	$576M	44.4%	19.0%	1.9%	0.8%	$550M	$29.1B	$483M
Jun '22	$5.0B	$635M	46.3%	20.2%	2.1%	0.9%	$1.2B	$28.6B	$100M
Mar '22	$4.1B	$667M	53.7%	25.0%	2.2%	1.0%	$677M	$28.8B	$84M
Dec '21	$4.1B	$637M	51.9%	23.0%	2.1%	0.9%	$881M	$30.7B	$1.1B

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 23.9× (Nov '26).
The price-to-sales ratio has risen from 2.2× (Mar '23) to 4.8× (Nov '26).
The dividend yield has fallen from 6.4% (Mar '23) to 3.6% (Nov '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?

Kinder Morgan's P/E (TTM) is 20.24 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the KMI stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 23.9× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.