Kinder Morgan (KMI): financials, SEC filings and peers
Kinder Morgan (KMI) is an oil & gas storage & transportation company in the Energy sector of the S&P 500, headquartered in Houston, Texas.
It was founded in 1997 and joined the S&P 500 on May 25, 2012.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Natural Gas Transmission”.
Kinder Morgan at a glance
- Revenue (12 months)
- $18.3B
- Revenue growth
- +11.7%
- Operating margin
- 29.0%
- Net income (12 months)
- $3.6B
- Free cash flow (12 months)
- $3.1B
- Cash
- $918M
- Debt
- $33.1B
- Diluted EPS (12 months)
- $1.62
Twelve months to September 30, 2026, from the 10-Q filed October 23, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Kinder Morgan reported revenue of $18.3 billion, up 11.7% from a year earlier.
Its operating margin was 29.0%, up 1.8 percentage points from a year earlier: for every $100 of sales, about $29 was left as operating profit.
Net income was $3.6 billion (19.6% of revenue), 32.1% higher than a year earlier.
Operating cash flow was $6.7 billion and capital spending $3.7 billion, leaving free cash flow of $3.1 billion (16.8% of revenue). Capital spending equal to 20% of revenue is high; the company is investing heavily.
At the end of the period it held $918 million in cash and $33.1 billion in debt, a net debt position of $32.2 billion.
Five-year trend
- Revenue went from $11.7 billion in fiscal 2020 to $16.9 billion in fiscal 2025, about 7.7% a year.
- Operating margin widened from 13.3% to 27.9% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $16.6B | $19.2B | $15.3B | $15.1B | $16.9B |
| Revenue growth | 42.0% | 15.6% | -20.1% | -1.5% | 12.2% |
| Operating margin | 17.6% | 21.2% | 27.8% | 29.0% | 27.9% |
| Net income | $1.8B | $2.5B | $2.4B | $2.6B | $3.1B |
| Free cash flow | $4.4B | $3.3B | $4.2B | $3.0B | $2.9B |
| Diluted EPS | $0.78 | $1.12 | $1.06 | $1.17 | $1.37 |
Fiscal years as reported in Kinder Morgan’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed November 6, 2026 — Regulation FD disclosure
- 10-Q filed October 23, 2026 — quarterly report
- 8-K filed October 21, 2026 — Earnings results
- 8-K filed September 28, 2026 — Regulation FD disclosure
- 8-K filed September 4, 2026 — Regulation FD disclosure
- 8-K filed August 10, 2026 — Regulation FD disclosure
- 8-K filed August 3, 2026 — Other event
- 10-Q filed July 24, 2026 — quarterly report
Companies like Kinder Morgan
Other S&P 500 companies in Oil & Gas Storage & Transportation:
More from Energy
Questions about Kinder Morgan
Is Kinder Morgan's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $18.3 billion, up 11.7% from a year earlier, according to its SEC filings.
Is Kinder Morgan profitable?
Yes. It earned $3.6 billion in net income over the twelve months to September 30, 2026, a net margin of 19.6%.
Does Kinder Morgan have more cash or more debt?
At September 30, 2026 it had $918 million in cash and $33.1 billion in debt, so more debt than cash.
When did Kinder Morgan last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 23, 2026.
Which companies are similar to Kinder Morgan?
In the S&P 500, Kinder Morgan is grouped in Oil & Gas Storage & Transportation within the Energy sector. Oneok (OKE), Targa Resources (TRGP), Williams Companies (WMB) are in the same group.
Understand the numbers
Source: Kinder Morgan’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.