InsiderClue
Stocks · Energy · Natural Gas Transmission

Kinder Morgan

KMI Clue Score52
United States Fiscal year ends December CIK 0001506307
$32.49 +0.74% Close, 9 Oct 2026
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Price $32.49 +83.15% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue13.06Operating income3.54Net income0.71EPS, diluted0.25Fiscal year 2017Revenue13.71 +5.0%Operating income3.53Net income0.18 −74.2%EPS, diluted0.01 −96.0%Fiscal year 2018Revenue13.32 −2.8%Operating income3.79Net income1.61 +779.2%Fiscal year 2019Revenue12.08 −9.3%Operating income4.87Net income2.19 +36.1%EPS, diluted0.96Fiscal year 2020Revenue10.10 −16.4%Operating income1.56Net income0.12 −94.6%EPS, diluted0.05 −94.8%Fiscal year 2021Revenue16.15 +60.0%Operating income2.92Net income1.78 +1,399.2%EPS, diluted0.78 +1,460.0%Fiscal year 2022Revenue18.13 +12.2%Operating income4.07Net income2.55 +42.8%EPS, diluted1.12 +43.6%Fiscal year 2023Revenue13.65 −24.7%Operating income4.26Net income2.39 −6.2%EPS, diluted1.06 −5.4%Fiscal year 2024Revenue13.48 −1.2%Operating income4.38Net income2.61 +9.3%EPS, diluted1.17 +10.4%Fiscal year 2025Revenue15.20 +12.7%Operating income4.72Net income3.06 +17.0%EPS, diluted1.37 +17.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 13.06 13.71 13.32 12.08 10.10 16.15 18.13 13.65 13.48 15.20
Growth +5.0% −2.8% −9.3% −16.4% +60.0% +12.2% −24.7% −1.2% +12.7%
Operating income 3.54 3.53 3.79 4.87 1.56 2.92 4.07 4.26 4.38 4.72
Net income 0.71 0.18 1.61 2.19 0.12 1.78 2.55 2.39 2.61 3.06
Growth −74.2% +779.2% +36.1% −94.6% +1,399.2% +42.8% −6.2% +9.3% +17.0%
EPS, diluted 0.25 0.01 n/a 0.96 0.05 0.78 1.12 1.06 1.17 1.37
Growth −96.0% −94.8% +1,460.0% +43.6% −5.4% +10.4% +17.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin27.1%Net margin5.4%Free cash flow margin14.4%Fiscal year 2017Operating margin25.7%Net margin1.3%Free cash flow margin10.3%Fiscal year 2018Operating margin28.5%Net margin12.1%Free cash flow margin16.1%Fiscal year 2019Operating margin40.3%Net margin18.1%Free cash flow margin20.5%Fiscal year 2020Operating margin15.5%Net margin1.2%Free cash flow margin28.2%Fiscal year 2021Operating margin18.1%Net margin11.0%Free cash flow margin27.4%Fiscal year 2022Operating margin22.4%Net margin14.1%Free cash flow margin18.5%Fiscal year 2023Operating margin31.2%Net margin17.5%Free cash flow margin30.6%Fiscal year 2024Operating margin32.5%Net margin19.4%Free cash flow margin22.3%Fiscal year 2025Operating margin31.1%Net margin20.1%Free cash flow margin19.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 27.1% 25.7% 28.5% 40.3% 15.5% 18.1% 22.4% 31.2% 32.5% 31.1%
Net margin 5.4% 1.3% 12.1% 18.1% 1.2% 11.0% 14.1% 17.5% 19.4% 20.1%
Free cash flow margin 14.4% 10.3% 16.1% 20.5% 28.2% 27.4% 18.5% 30.6% 22.3% 19.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow4.76Capital expenditure−2.88Free cash flow1.88Buybacks0.00Dividends paid−1.12Fiscal year 2017Operating cash flow4.60Capital expenditure−3.19Free cash flow1.41 −24.7%Buybacks−0.25Dividends paid−1.12Fiscal year 2018Operating cash flow5.04Capital expenditure−2.90Free cash flow2.14 +51.4%Buybacks−0.27Dividends paid−1.62Fiscal year 2019Operating cash flow4.75Capital expenditure−2.27Free cash flow2.48 +15.8%Buybacks−0.00Dividends paid−2.16Fiscal year 2020Operating cash flow4.55Capital expenditure−1.71Free cash flow2.84 +14.7%Buybacks−0.05Dividends paid−2.36Fiscal year 2021Operating cash flow5.71Capital expenditure−1.28Free cash flow4.43 +55.7%Buybacks0.00Dividends paid−2.44Fiscal year 2022Operating cash flow4.97Capital expenditure−1.62Free cash flow3.35 −24.4%Buybacks−0.37Dividends paid−2.50Fiscal year 2023Operating cash flow6.49Capital expenditure−2.32Free cash flow4.17 +24.7%Buybacks−0.52Dividends paid−2.53Fiscal year 2024Operating cash flow5.64Capital expenditure−2.63Free cash flow3.01 −28.0%Buybacks−0.01Dividends paid−2.56Fiscal year 2025Operating cash flow5.92Capital expenditure−3.03Free cash flow2.89 −3.8%Buybacks0.00Dividends paid−2.60
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 4.76 4.60 5.04 4.75 4.55 5.71 4.97 6.49 5.64 5.92
Capital expenditure −2.88 −3.19 −2.90 −2.27 −1.71 −1.28 −1.62 −2.32 −2.63 −3.03
Free cash flow 1.88 1.41 2.14 2.48 2.84 4.43 3.35 4.17 3.01 2.89
Growth −24.7% +51.4% +15.8% +14.7% +55.7% −24.4% +24.7% −28.0% −3.8%
Buybacks 0.00 −0.25 −0.27 −0.00 −0.05 0.00 −0.37 −0.52 −0.01 0.00
Dividends paid −1.12 −1.12 −1.62 −2.16 −2.36 −2.44 −2.50 −2.53 −2.56 −2.60

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.68Total debt37.35Net cash (debt)−36.67Shareholders’ equity34.43Debt to equity1.08Fiscal year 2017Cash0.26Total debt35.02Net cash (debt)−34.75Shareholders’ equity33.64Debt to equity1.04Fiscal year 2018Cash3.28Total debt33.94Net cash (debt)−30.66Shareholders’ equity33.68Debt to equity1.01Fiscal year 2019Cash0.19Total debt31.92Net cash (debt)−31.73Shareholders’ equity33.74Debt to equity0.95Fiscal year 2020Cash1.18Total debt32.13Net cash (debt)−30.95Shareholders’ equity31.44Debt to equity1.02Fiscal year 2021Cash1.14Total debt30.67Net cash (debt)−29.53Shareholders’ equity30.82Debt to equity1.00Fiscal year 2022Cash0.75Total debt28.40Net cash (debt)−27.66Shareholders’ equity30.74Debt to equity0.92Fiscal year 2023Cash0.08Total debt28.07Net cash (debt)−27.98Shareholders’ equity30.31Debt to equity0.93Fiscal year 2024Cash0.09Total debt29.88Net cash (debt)−29.79Shareholders’ equity30.53Debt to equity0.98Fiscal year 2025Cash0.06Total debt30.78Net cash (debt)−30.71Shareholders’ equity31.16Debt to equity0.99
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.68 0.26 3.28 0.19 1.18 1.14 0.75 0.08 0.09 0.06
Total debt 37.35 35.02 33.94 31.92 32.13 30.67 28.40 28.07 29.88 30.78
Net cash (debt) −36.67 −34.75 −30.66 −31.73 −30.95 −29.53 −27.66 −27.98 −29.79 −30.71
Shareholders’ equity 34.43 33.64 33.68 33.74 31.44 30.82 30.74 30.31 30.53 31.16
Debt to equity 1.08 1.04 1.01 0.95 1.02 1.00 0.92 0.93 0.98 0.99

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
13.06 13.71 13.32 12.08 10.10 16.15 18.13 13.65 13.48 15.20
Growth +5.0% −2.8% −9.3% −16.4% +60.0% +12.2% −24.7% −1.2% +12.7%
3.43 4.35 4.42 3.26 2.55 6.49 9.26 n/a n/a n/a
0.70 0.69 0.60 0.59 0.65 0.66 0.64 0.67 0.71 0.74
3.54 3.53 3.79 4.87 1.56 2.92 4.07 4.26 4.38 4.72
Growth −0.3% +7.5% +28.4% −68.0% +86.9% +39.4% +4.9% +2.8% +7.8%
1.64 2.16 2.51 3.17 0.66 2.22 3.34 3.20 3.41 3.99
0.92 1.94 0.59 0.93 0.48 0.37 0.71 0.72 0.69 0.83
0.71 0.18 1.61 2.19 0.12 1.78 2.55 2.39 2.61 3.06
Growth −74.2% +779.2% +36.1% −94.6% +1,399.2% +42.8% −6.2% +9.3% +17.0%
Per share
0.25 0.01 n/a 0.96 0.05 0.78 1.12 1.06 1.17 1.37
0.25 0.01 n/a 0.96 0.05 0.78 1.12 1.06 1.17 1.37
Growth −96.0% −94.8% +1,460.0% +43.6% −5.4% +10.4% +17.1%
2,230 2,230 n/a 2,264 2,263 2,266 2,258 2,234 2,220 2,223
2,230 2,230 n/a 2,264 2,263 2,266 2,258 2,234 2,220 2,223
Growth +0.0% −0.0% +0.1% −0.4% −1.1% −0.6% +0.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 8.5% a year over five years, and earnings per share grew 93.9% a year.
  • The diluted share count fell 1.8% in five years, so buybacks did some of the work per share.
  • Operating margin is up 15.6 points on five years ago, at 31.1%.
  • Profitable in every one of the 10 years on file.