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Kinder Morgan KMI

US equityMarket cap rank #241Oil & Gas MidstreamNatural Gas
$31.30
−$0.08 (-0.24%)
Market open · Sep 24, 2:00 pm ET
After hours $31.37 0.00%
Open$31.51
Prev close$31.37
Day range$31.13 – $31.58
Volume3.63M
Market cap$69.69B
P/E (TTM)20.2
Dividend yield3.75%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$4.48B+10.8% YoY
Operating profit$1.35B+16.8% YoY
Net profit$894.00M+20.5% YoY
Diluted EPS$0.39+21.9% YoY
Free cash flow$978.00M-2.4% YoY
Operating cash flow$1.96B

Revenue, last 8 quarters

$3.7BSep '24$4.0BDec '24$4.2BMar '25$4.0BJun '25$4.1BSep '25$4.5BDec '25$4.8BMar '26$4.5BJun '26

Net profit, last 8 quarters

$651.0MSep '24$694.0MDec '24$743.0MMar '25$742.0MJun '25$654.0MSep '25$1.0BDec '25$1.0BMar '26$894.0MJun '26

Diluted EPS by quarter

0.28Sep '240.30Dec '240.32Mar '250.32Jun '250.28Sep '250.45Dec '250.44Mar '260.39Jun '26

Free cash flow by quarter

$592.0MSep '24$738.0MDec '24$396.0MMar '25$1.0BJun '25$621.0MSep '25$872.0MDec '25$687.0MMar '26$978.0MJun '26

Annual revenue

$11.7BFY20$16.6BFY21$19.2BFY22$15.3BFY23$15.1BFY24$16.9BFY25

Profitability & balance sheet

Gross margin52.8%
Operating margin29.0%
Net margin19.2%
Return on equity11.1%
Return on assets4.7%
Return on invested capital5.4%
Current ratio0.46
Liabilities / assets55.6%
Cash & investments$89.00M
Total debt$32.14B
Net cash (debt)-$32.05B
Free cash flow / sales17.6%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Natural Gas Pipelines$2.67B 59.5%
  • Products Pipelines$902.00M 20.1%
  • Terminals$558.00M 12.4%
  • Carbon dioxide (CO2)$355.00M 7.9%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $4.48B $4.83B $16.94B $4.51B $4.15B
Total Operating Revenue $4.48B $4.83B $16.94B $4.51B $4.15B
Cost of Revenue $2.03B $2.38B $7.98B $2.07B $2.00B
Gross Profit $2.45B $2.45B $8.96B $2.44B $2.14B
Operating Expense $1.11B $1.00B $4.23B $1.08B $1.08B
Selling and Admin Expenses $192.00M $184.00M $744.00M $186.00M $183.00M
-General & Admin Expense $192.00M $184.00M $744.00M $186.00M $183.00M
Other Taxes $120.00M $114.00M $445.00M $111.00M $111.00M
Other Operating Expenses -$12.00M -$7.00M -$15.00M -$5.00M -$1.00M
Operating Profit $1.35B $1.44B $4.72B $1.36B $1.06B
Net Non-Operating Interest Income (Expense) -$425.00M -$430.00M -$1.80B -$442.00M -$456.00M
Total Other Finance Costs $425.00M $430.00M $1.80B $442.00M $456.00M
Other Income (Expense) $245.00M $274.00M $1.07B $383.00M $232.00M
Earnings from Equity Interest $225.00M $254.00M $896.00M $249.00M $221.00M
Other Non-Operating Income (Expenses) $20.00M $20.00M $173.00M $134.00M $11.00M
Pretax Profit $1.17B $1.29B $3.99B $1.31B $839.00M
Tax $272.00M $287.00M $832.00M $284.00M $185.00M
Net Profit $894.00M $1.00B $3.16B $1.02B $654.00M
Profit from Continuing Operations $894.00M $1.00B $3.16B $1.02B $654.00M
Minority Interests $27.00M $25.00M $104.00M $25.00M $26.00M
Net Income to Parent Company $867.00M $976.00M $3.06B $996.00M $628.00M
Other Preferred Stock Dividends $4.00M $5.00M $16.00M $5.00M $4.00M
Net Income to Common Stockholders $863.00M $971.00M $3.04B $991.00M $624.00M
Basic EPS $0.39 $0.44 $1.37 $0.45 $0.28
Diluted EPS $0.39 $0.44 $1.37 $0.45 $0.28
Dividend Per Share $0.30 $0.29 $1.17 $0.29 $0.29

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $74.06B $73.07B $72.75B $72.75B $72.32B
Total Current Assets $2.59B $2.71B $2.75B $2.75B $2.43B
Cash and Cash Equivalents & Short-Term Investments $89.00M $72.00M $63.00M $63.00M $71.00M
-Cash and Cash Equivalents $89.00M $72.00M $63.00M $63.00M $71.00M
Receivables $1.56B $1.58B $1.71B $1.71B $1.44B
-Accounts Receivable $1.56B $1.58B $1.71B $1.71B $1.44B
Inventory $565.00M $593.00M $574.00M $574.00M $560.00M
Restricted Cash $30.00M $108.00M $46.00M $46.00M $62.00M
Other Current Assets $341.00M $352.00M $357.00M $357.00M $289.00M
Total Non-Current Assets $71.47B $70.37B $69.99B $69.99B $69.89B
Net PPE $40.52B $39.70B $39.33B $39.33B $39.02B
Investments and Advances $7.71B $7.65B $7.53B $7.53B $7.75B
Goodwill and Other Intangible Assets $21.96B $21.77B $21.81B $21.81B $21.86B
-Goodwill $20.08B $20.08B $20.08B $20.08B $20.08B
-Other Intangible Assets $1.87B $1.69B $1.73B $1.73B $1.77B
Other Non-Current Assets $1.29B $1.25B $1.32B $1.32B $1.26B
Total Liabilities $41.18B $40.49B $40.30B $40.30B $40.28B
Total Current Liabilities $5.65B $5.18B $4.32B $4.32B $3.85B
Payables $1.78B $1.56B $1.66B $1.66B $1.59B
-Accounts Payable $1.57B $1.37B $1.41B $1.41B $1.30B
-Total Tax Payable $216.00M $198.00M $256.00M $256.00M $291.00M
Current Accrued Expenses $514.00M $339.00M $534.00M $534.00M $362.00M
Short-Term Debt and Capital Lease Obligation $2.44B $2.19B $1.23B $1.23B $1.08B
-Current Debt $2.44B $2.19B $1.23B $1.23B $1.08B
Other Current Liabilities $907.00M $1.09B $898.00M $898.00M $817.00M
Total Non-Current Liabilities $35.54B $35.31B $35.98B $35.98B $36.44B
Long Term Debt and Capital Lease Obligation $29.70B $29.76B $30.56B $30.56B $31.39B
-Long Term Debt $29.70B $29.76B $30.56B $30.56B $31.39B
Non-Current Deferred Liabilities $3.44B $3.12B $2.89B $2.89B $2.61B
Convertible preferred securities $109.00M $110.00M $221.00M $221.00M $110.00M
Other Non-Current Liabilities $2.29B $2.32B $2.31B $2.31B $2.33B
Total Equity $32.88B $32.58B $32.45B $32.45B $32.03B
Stockholders' Equity $31.63B $31.32B $31.16B $31.16B $30.74B
Capital Stock $22.00M $22.00M $22.00M $22.00M $22.00M
-Common Stock $22.00M $22.00M $22.00M $22.00M $22.00M
Additional Paid-In Capital $41.32B $41.30B $41.28B $41.28B $41.26B
Retained Earnings -$9.66B -$9.86B -$10.18B -$10.18B -$10.52B
Gains/Losses Not Affecting Retained Earnings -$50.00M -$137.00M $45.00M $45.00M -$14.00M
Minority Interests $1.25B $1.26B $1.29B $1.29B $1.29B
-Gross PPE – – $63.39B $63.39B –
-Accumulated Depreciation – – -$24.06B -$24.06B –
-Long Term Equity Investment – – $7.53B $7.53B –

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.96B $1.49B $5.92B $1.69B $1.41B
Net cash flow from continuing operations $1.96B $1.49B $5.92B $1.69B $1.41B
Net Income from Continuing Operations $894.00M $1.00B $3.16B $1.02B $654.00M
Gain/Loss from Continuing Operations -$298.00M -$168.00M -$1.05B -$412.00M -$199.00M
Depreciation & Depletion & Amortization $620.00M $633.00M $2.45B $618.00M $609.00M
Deferred Tax $295.00M $281.00M $780.00M $268.00M $185.00M
Other Non-Cash Items -$97.00M -$67.00M -$125.00M -$50.00M $30.00M
Change in Working Capital $333.00M -$339.00M -$108.00M $27.00M -$53.00M
-Change in Receivables $26.00M $131.00M -$192.00M -$267.00M $8.00M
-Change in Inventory $31.00M -$19.00M -$21.00M -$16.00M -$3.00M
-Change in Payables and Accrued Expense $279.00M -$422.00M $68.00M $260.00M -$61.00M
-Change in Other Current Assets $22.00M -$56.00M -$9.00M -$22.00M -$1.00M
-Change in Other Current Liabilities -$25.00M $27.00M $41.00M $67.00M $4.00M
Net cash flow from investing -$1.55B -$803.00M -$3.18B -$477.00M -$663.00M
Net Cash Flow from Continuing Investing Activities -$1.55B -$803.00M -$3.18B -$477.00M -$663.00M
Capital Expenditure -$982.00M -$804.00M -$3.03B -$820.00M -$793.00M
Net Investment Purchase and Sale -$89.00M -$53.00M $204.00M $307.00M -$34.00M
Net Other Investing Changes -$531.00M $8.00M -$39.00M $623.00M -$13.00M
Financing Cash Flow -$469.00M -$617.00M -$2.84B -$1.24B -$815.00M
Net Cash Flow from Continuing Financing Activities -$469.00M -$617.00M -$2.84B -$1.24B -$815.00M
Net Issuance Payments Of Debt $241.00M $70.00M -$37.00M -$561.00M -$89.00M
Cash Dividends Paid -$665.00M -$654.00M -$2.60B -$654.00M -$654.00M
Net Other Financing Charges -$45.00M -$33.00M -$202.00M -$24.00M -$72.00M
Ending Cash Balance $119.00M $180.00M $109.00M $109.00M $133.00M
Net Change in Cash -$61.00M $71.00M -$105.00M -$24.00M -$64.00M
Beginning Cash Balance $180.00M $109.00M $214.00M $133.00M $197.00M
Free Cash Flow $978.00M $687.00M $2.89B $872.00M $621.00M
-Change In Other Working Capital – – $5.00M – –
Net Business Purchase and Sale – – -$648.00M – –
Net Common Stock Issuance – – $0.00 $0.00 $0.00
Effect of Exchange Rate Changes – – $0.00 – –
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