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AnalystLens

KINDER MORGAN, INC.KMI

Sector
Energy
Industry
Natural Gas Transmission
Exchange
NYSE

Stock Price $KMI

Latest filings

You are here#12 of 25 in Energy by market cap

Filing record · 2016–202610-K1110-Q328-K208

KMI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 208 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. FY2019 annual report10-K · Feb ’20Feb ’20
  3. Leadership change8-K · Feb ’23Feb ’23
  4. Leadership change8-K · Feb ’25Feb ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $16.94B
YoY changeLargest recent move+42.0%in FY21Latest +12.2%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All KMI Financial Metrics62 metrics

Income Statement15

Balance Sheet27

Cash Flow15

Per Share5

02—Overview

KINDER MORGAN, INC. Financial Overview 2021–2025

Updated Jul 10, 2026

Kinder Morgan capped FY2025 with a 12% revenue surge to $16.9 billiona, proving its network of fee-based pipelines can capture immense upside from rising natural gas volumes. The core investment thesis is clear: the energy infrastructure giant operates a stable cash-flow engine that aggressively consolidates regional midstream assets to fund both network expansion and consistent shareholder payouts.

Demonstrating steady profitability across volatile commodity cycles, the company’s earnings per share expanded from $0.78 in FY2021 to $1.37b in FY2025. This long-term growth trajectory was heavily fueled by targeted infrastructure consolidation. Strategic moves like the $1.83 billion purchase of STX Midstream in FY2023 and the $648 million buyout of Outrigger Energy in Q1 2025 directly bolstered operating leverage in its critical Natural Gas Pipelines segment.

Management continues to recycle operating cash flow into future capacity and direct returns. The company has earmarked $3.3 billionc for discretionary expansion projects while forecasting a dividend payout of $1.19 per share for 2026. The market has rewarded this disciplined capital allocation framework; at the close of FY2025, Kinder Morgan commanded a $61.2 billion market capitalization, trading at 20.1x earnings with a share price of $27.49.

Recent Developments (Q4 2025 and Q1 2026)

Kinder Morgan drove continued growth into Q1 2026, posting a 14% year-over-year revenue increase to $4.83 billiond. Net income jumped 36% to $976 million, expanding quarterly earnings per share from $0.32 to $0.44. The company actively strengthened its balance sheet by reducing long-term debt to $29.87 billion during the quarter. Network consolidation remains a priority, marked by a definitive agreement to acquire Monument Pipeline for $505 million by Q2 2026. Additionally, leadership transitions are underway, with Chief Operating Officer James E. Holland retiring on September 4, 2026, to be succeeded by Kenneth W. Grubb.

Bulls view the sharp quarterly earnings expansion and immediate debt reduction as proof of highly efficient asset integration. Conversely, bears warn the stock's rising premium limits near-term upside, with shares trading at 23.2x earnings as of April 24, 2026.

What to watch: closing of the $505 millione Monument Pipeline acquisition; operational continuity following the September 2026 leadership transition.

03—Filings

Recent SEC Filings

  1. 8-KKINDER MORGAN, INC. 8-K Report, Financial Results (Oct 21, 2026)Kinder Morgan, Inc. (KMI) reported record-breaking financial results for the third quarter of 2026, showcasing strong performance across its business segments. Net income attributable to KMI surged to $764 million, a significant increase from the prior year, with Adjusted EPS and Adjusted EBITDA also showing robust year-over-year growth of 21% and 9%, respectively. The company highlighted a substantial expansion of its project backlog, reaching $14.4 billion, driven primarily by a record $13.2 billion in natural gas projects, underscoring the strategic importance of its natural gas infrastructure in meeting growing demand from LNG exports, power generation, and industrial expansion. Investors will be encouraged by KMI's commitment to returning capital, as evidenced by the approved cash dividend of $0.2975 per share, a 2% increase from Q3 2025, supported by healthy free cash flow generation. The company also reported a healthy balance sheet with a Net Debt-to-Adjusted EBITDA ratio of 3.5 times, within its targeted range. The strategic investments in new natural gas projects like the Southeast Connector and Permian Link are poised to further enhance KMI's market position and drive future growth.
  2. 8-KKINDER MORGAN, INC. 8-K Report, Regulation FD Disclosure (Sep 28, 2026)Kinder Morgan, Inc. (KMI) has filed an 8-K to disclose its upcoming participation in the Wolfe Research Utilities, Midstream & Clean Energy Conference on September 30, 2026. Management will be discussing the company's business and affairs. This provides an opportunity for investors to gain insights into KMI's current strategies and outlook directly from company representatives.
  3. 8-KKINDER MORGAN, INC. 8-K Report, Regulation FD Disclosure (Sep 4, 2026)Kinder Morgan, Inc. (KMI) has filed an 8-K report to announce the participation of its representatives at the Barclays Energy-Power Conference on September 9, 2026. This event provides an opportunity for KMI to discuss its business and affairs with investors and analysts. While no material new financial information is being disclosed in this filing itself, the conference presentation is a key venue for understanding the company's current strategic direction and outlook. Investors are encouraged to tune into the live webcast or review the archived presentation, which will be available on KMI's website for 180 days. The presentation is scheduled to begin at 9:45 a.m. Eastern Time on September 9th, offering insights into KMI's operations and potential future developments within the energy sector.
  4. 8-KKINDER MORGAN, INC. 8-K Report, Regulation FD Disclosure (Aug 10, 2026)Kinder Morgan, Inc. (KMI) has filed an 8-K to announce the upcoming participation of its representatives at the Citi 2026 Natural Resources Conference, scheduled for August 11-12, 2026. This provides an opportunity for investors and analysts to gain insights into KMI's business and affairs directly from company representatives. The conference participation signals KMI's ongoing engagement with the financial community and its commitment to transparency regarding its operations and strategic outlook.
  5. 8-KKINDER MORGAN, INC. 8-K Report, Corporate Update (Aug 3, 2026)Kinder Morgan, Inc. (KMI) has announced the successful completion of a significant debt offering, raising a total of $1.75 billion through the sale of senior notes. This issuance comprises $1.15 billion in 5.550% Senior Notes due 2036 and $600 million in 6.150% Senior Notes due 2056. The proceeds from this offering are earmarked for general corporate purposes, specifically targeting the repayment of commercial paper and the refinancing of upcoming debt maturities. This strategic move to raise capital through long-term debt demonstrates KMI's proactive approach to managing its balance sheet and ensuring financial flexibility. The specific interest rates and maturity dates indicate a diversification of KMI's debt profile, potentially optimizing its cost of capital and managing interest rate risk. Investors will want to monitor how these new debt obligations impact KMI's leverage ratios and overall financial health, as well as the company's execution of its repayment and refinancing plans.
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04—See also

Related Companies

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