Kinder Morgan (KMI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Kinder Morgan

NYSE•Energy•Oil & Gas Midstream

$31.31+0.58(0.02%)After hours

Market Cap

$69.71B

P/E

20.1x

P/S

3.9x

P/B

2.2x

Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America. It operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities. The Products Pipelines segment owns and operates refined petroleum products, and crude oil and condensate pipelines; and associated product terminals and petroleum pipeline transmix facilities. The Terminals segment owns and/or operates liquids and bulk terminals that stores and handles various commodities, including gasoline, diesel fuel, renewable fuel and feedstocks, chemicals, ethanol, metals, and petroleum coke; and owns tankers. The CO2 segment produces, transports, and markets CO2 to recovery and production crude oil from mature oil fields; owns interests in/or operates oil fields and gasoline processing plants; and operates a crude oil pipeline system in West Texas, as well as owns and operates RNG and LNG facilities. The company was formerly known as Kinder Morgan Holdco LLC and changed its name to Kinder Morgan, Inc. in February 2011. Kinder Morgan, Inc. was founded in 1997 and is headquartered in Houston, Texas.

How this company scores

ExcellentMetricSide Score: 82/100

Strongest: Profitability (23/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability23/25

Growth22/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowStrong marginsRising earningsConsistent free cash flow

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 20.1x5y range 15.0x – 41.5x

Currently near its 20-quarter median.

P/S · 3.9x5y range 2.0x – 4.3x

Currently above its 20-quarter median.

P/B · 2.2x5y range 1.2x – 2.4x

Price & Volume

Market Cap $69.71B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $17.96B
Q. Revenue: $4.48B
TTM EBITDA: $7.70B
TTM Op. Income: $5.22B
Q. Op. Income: $1.35B
TTM Net Income: $3.47B
Q. Net Income: $867.00M
EPS: $0.39
Shares Out.: $2.23B

$17.96B in TTM revenue grew 12.5% YoY, reaching $4.48B last quarter. TTM EBITDA of $7.70B and TTM operating income of $5.22B show growth is flowing through to the bottom line. TTM net income of $3.47B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 43.9%
Op. Margin: 30.1%
Net Margin: 19.4%

Op. margin of 30.1% is up 1.6% YoY — cost efficiency is improving. Net margin at 19.4% Over the past year, operating margin is up 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 20.1x
P/S Ratio: 3.9x
P/B Ratio: 2.2x

At 20.1x P/E, the stock trades within typical market levels. P/S of 3.9x and P/B of 2.2x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 16% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $74.06B
Cash: $89.00M
Long-Term Debt: $29.80B
Book Value: $31.63B
D/E Ratio: 0.9
Debt/EBITDA: 15.2

With $74.06B in assets and $29.80B in long-term debt, D/E is 0.9and book value is $31.63B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 4 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.96B
TTM Free Cash Flow: $3.16B
FCF Margin: 17.6%
FCF / Net Income: 0.9

TTM FCF of $3.16B on $1.96B in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 16% — a weakening trend.