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Kinder Morgan
KMIEnergyGenerated Sep 5, 2026, 02:27 PM UTC
KMI (Kinder Morgan) analytical snapshot. Revenue grew +12.2% YoY to $16.94B. 5-year revenue CAGR +0.4%; 10y CAGR +2.9%. Net margin at 18.04% (expanding ▲). Market cap $69.92B at $31.40 per share. Trailing P/E 22.92, P/S 4.13, P/B 2.21. EV/Operating income ≈ 22.68 (EV $107.15B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -4 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$69.92B
2.23B shares
Price
$31.40
NYQ
P/E (ttm)
22.92
Revenue (FY)
$16.94B
YoY +12.2%
Net margin
18.04%
▲ 4.77pp
Free cash flow
$2.89B
17.07% margin
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 13, 2026. Latest quarterly report (10-Q) filed Jul 24, 2026. 18 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 13, 2026.
- Latest quarterly report (10-Q) filed Jul 24, 2026.
- 18 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Kinder Morgan; broad institutional reporting.
- Recent filers include Energy Income Partners, LLC, Energy Income Partners, LLC, Energy Income Partners, LLC.
- 17 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 3 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 13, 2026
Annual report
Latest 10-Q
Jul 24, 2026
8-K (recent)
18
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
17
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Energy Income Partners, LLC | 13F-HR | Nov 14, 2013 |
| Energy Income Partners, LLC | 13F-HR | Feb 14, 2014 |
| Energy Income Partners, LLC | 13F-HR | May 14, 2014 |
| Energy Income Partners, LLC | 13F-HR | Aug 14, 2013 |
| Energy Income Partners, LLC | 13F-HR | Nov 14, 2014 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Sep 4, 2026 | 8-K | 8-K |
| Aug 10, 2026 | 8-K | 8-K |
| Aug 3, 2026 | 8-K | FORM 8-K |
| Jul 22, 2026 | 8-K | 8-K |
| May 28, 2026 | 8-K | 8-K |
| May 19, 2026 | 8-K | 8-K |
| May 15, 2026 | 8-K | 8-K |
| Apr 27, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -42Deteriorating
66% conf
3 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- NEW: Going concern doubt in latest filing: The term "going concern" "substantial doubt" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- Restatement of financial statements: The term "restatement of" "previously issued" appears in 2 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.94x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Endogenous analysis: 3 risk signal(s) detected versus 1 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 2 new risk-language term(s) detected in filing text: Going concern doubt, Substantial doubt about ability to continue.
- Ongoing high-severity risk language: Restatement of financial statements.
Revenue
$16.94B
+12.2% YoY
Operating income
$4.72B
+7.8% YoY
Net income
$3.06B
+17.0% YoY
Operating cash flow
$5.92B
+5.0% YoY
Capex
$3.03B
+15.1% YoY
Total assets
$72.75B
+1.9% YoY
Total liabilities
$40.30B
+1.9% YoY
Long-term debt
$30.78B
+3.0% YoY
Filing quality score
70/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $15.10B | $16.94B | $1.84B | +12.2% |
| Operating income | $4.38B | $4.72B | $340.0M | +7.8% |
| Net income | $2.61B | $3.06B | $443.0M | +17.0% |
| Operating cash flow | $5.63B | $5.92B | $282.0M | +5.0% |
| Capex | $2.63B | $3.03B | $397.0M | +15.1% |
| Total assets | $71.41B | $72.75B | $1.34B | +1.9% |
| Total liabilities | $39.54B | $40.30B | $759.0M | +1.9% |
| Long-term debt | $29.88B | $30.78B | $896.0M | +3.0% |
| Cash & equivalents | $88.0M | $63.0M | $-25.0M | -28.4% |
| Stockholders equity | $30.53B | $31.16B | $631.0M | +2.1% |
| Inventory | $555.0M | $574.0M | $19.0M | +3.4% |
| Accounts receivable | $1.50B | $1.37B | $-128.0M | -8.5% |
| Interest expense | $1.69B | $1.81B | $117.0M | +6.9% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AmortizationOfIntangibleAssets, AssetRetirementObligation, AssetRetirementObligationAccretionExpense, AssetRetirementObligationCashPaidToSettle, AssetRetirementObligationCurrent, AssetRetirementObligationLiabilitiesIncurred, BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentEquityInterests, ContributionOfProperty, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 1 | 0 | NEW |
| Substantial doubt about ability to continue | high | 1 | 0 | NEW |
| Restatement of financial statements | high | 2 | 1 | Ongoing |
| Impairment charge | medium | 5 | 2 | Ongoing |
| Restructuring | medium | 5 | 2 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 8 | Ongoing |
| Related party transactions | low | 5 | 2 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 1
Watch: 0
Red flags
Positive
Watch
Free previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 40Improving
80% conf
Revenue grew +12.2% YoY to $16.94B. 5-year revenue CAGR +0.4%; 10y CAGR +2.9%. Net margin at 18.04% (expanding ▲).
- Revenue grew +12.2% YoY to $16.94B.
- 5-year revenue CAGR +0.4%; 10y CAGR +2.9%.
- Net margin at 18.04% (expanding ▲).
- Return on equity 9.81%, ROA 4.20%, ROIC 7.63%.
- Gross margin 0.00%, operating margin 27.89%.
- Free cash flow margin 17.07% ($2.89B).
- Net income up ▲ +17.0% YoY.
- Debt/equity 1.18, current ratio 0.46, net debt $37.23B.
- Asset turnover 0.23 — capital efficiency.
Revenue (FY)
$16.94B
YoY +12.2%
Net margin
18.04%
▲ 4.77pp
ROE
9.81%
ROA 4.20%
ROIC
7.63%
EPS (diluted)
$1.37
FY2025
Free cash flow
$2.89B
17.07% margin
Debt / equity
1.18
Cash $89.0M
Current ratio
0.46
Equity $31.63B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $15.10B | -1.5% | 0.00 | 29.03 | 17.30 | $3.01B | 8.56 |
| 2025 | $16.94B | +12.2% | 0.00 | 27.89 | 18.04 | $2.89B | 9.81 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2024 | $3.70B | -5.3% | — | 16.90% |
| Mar 31, 2025 | $4.24B | +10.4% | +14.7% | 16.91% |
| Jun 30, 2025 | $4.04B | +13.2% | -4.7% | 17.69% |
| Sep 30, 2025 | $4.15B | +12.1% | +2.6% | 15.15% |
| Mar 31, 2026 | $4.83B | +13.8% | +16.4% | 20.22% |
| Jun 30, 2026 | $4.48B | +10.8% | -7.3% | 19.37% |
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Valuation Analyst
score -50Deteriorating
95% conf
Market cap $69.92B at $31.40 per share. Trailing P/E 22.92, P/S 4.13, P/B 2.21. EV/Operating income ≈ 22.68 (EV $107.15B).
- Market cap $69.92B at $31.40 per share.
Market cap
$69.92B
2.23B shares
P/E (ttm)
22.92
P/S
4.13
P/B
2.21
EV
$107.15B
Intrinsic (DCF)
$20.14
-35.9% vs price
ProFull breakdown & reasoning locked
Price & Technicals
Technical Analyst
score 15Stable
85% conf
Price $31.40 — uptrend (above 200-DMA); 1-month momentum positive. RSI(14) 41.71.
- Price $31.40 — uptrend (above 200-DMA); 1-month momentum positive.
Price
$31.40
NYQ
RSI(14)
41.71
50-DMA
$31.96
200-DMA
$31.08
Volatility (ann.)
20.85%
52w range
$25.60–$34.81
-9.8% from high
ProFull breakdown & reasoning locked
Macro & Rates
Macro Analyst
score 30Improving
80% conf
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.77%.
- Market regime: Risk-on · Supportive.
GDP growth
1.50%
CPI (YoY)
+3.3%
Fed funds
3.63%
10Y yield
4.77%
10Y−2Y
0.41pp
Unemployment
4.10%
ProFull breakdown & reasoning locked
Risk Scorecard
Risk Analyst
score -25Deteriorating
90% conf
Composite risk Elevated. Leverage debt/equity 1.18 (moderate). Liquidity current ratio 0.46 (stretched).
- Composite risk: Elevated.
Risk level
Elevated
Debt / equity
1.18
Current ratio
0.46
Margin stdev
6.13pp
Cash / assets
0.12%
Liab / assets
55.61%
ProFull breakdown & reasoning locked
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Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Kinder Morgan is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
14.32
Fed funds
3.63%
CPI YoY
+3.3%
Analytical read
deterministic previewRevenue grew **+12.2%** YoY to $16.94B..
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow KMI stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Intuit Inc. INTU | 35 | Supportive |
| CF Industries CF | 34 | Supportive |
| MercadoLibre Inc. MELI | 29 | Supportive |
| Shopify Inc. SHOP | 27 | Supportive |
| Alphabet Inc. GOOGL | 26 | Supportive |
| Newmont Corp. NEM | 24 | Supportive |
| Booking Holdings BKNG | 24 | Supportive |
| Uber Technologies UBER | 24 | Supportive |
| Salesforce Inc. CRM | 23 | Supportive |
| Meta Platforms Inc. META | 23 | Supportive |
| Okta Inc. OKTA | 18 | Supportive |
| Qualcomm Inc. QCOM | 18 | Supportive |
| Roku Inc. ROKU | 17 | Supportive |
| Comcast Corp. CMCSA | 17 | Supportive |
| Microsoft Corp. MSFT | 16 | Supportive |
| Marvell Technology MRVL | 16 | Supportive |
| Netflix Inc. NFLX | 15 | Supportive |
| Workday Inc. WDAY | 15 | Supportive |
| Adobe Inc. ADBE | 14 | Supportive |
| Pinterest Inc. PINS | 14 | Supportive |
| Datadog Inc. DDOG | 14 | Supportive |
| Airbnb Inc. ABNB | 12 | Supportive |
| Dollar General Corp. DG | 12 | Supportive |
| T-Mobile US Inc. TMUS | 12 | Supportive |
| NVIDIA Corp. NVDA | 11 | Supportive |
| Energy Transfer ET | 8 | Supportive |
| ConocoPhillips COP | 8 | Supportive |
| Oracle Corp. ORCL | 8 | Supportive |
| Spotify Technology SPOT | 8 | Supportive |
| Lam Research Corp. LRCX | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| Delta Air Lines DAL | 7 | Supportive |
| Valero Energy VLO | 7 | Supportive |
| Ulta Beauty Inc. ULTA | 6 | Supportive |
| ASML Holding NV ASML | 6 | Supportive |
| Exxon Mobil Corp. XOM | 6 | Supportive |
| Amazon.com Inc. AMZN | 5 | Supportive |
| Eaton Corp. ETN | 4 | Supportive |
| Advanced Micro Devices AMD | 4 | Supportive |
| United Airlines Holdings UAL | 3 | Supportive |
| Chipotle Mexican Grill CMG | 3 | Supportive |
| GE Aerospace GE | 2 | Supportive |
| Zscaler Inc. ZS | 2 | Supportive |
| IBM Corp. IBM | 2 | Supportive |
| Snowflake Inc. SNOW | 1 | Supportive |
| Devon Energy DVN | 1 | Supportive |
| Verizon Communications VZ | 1 | Supportive |
| Hess Corp. HES | 0 | Supportive |
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| General Dynamics GD | -1 | Supportive |
| Honeywell International HON | -1 | Supportive |
| Micron Technology MU | -2 | Supportive |
| ServiceNow Inc. NOW | -3 | Supportive |
| Walt Disney Co. DIS | -3 | Supportive |
| Kinder Morgan KMI● you | -4 | Supportive |
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