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)
- $18.0B
- Revenue growth
- +12.5%
- Operating margin
- 29.0%
- Net income (12 months)
- $3.5B
- Free cash flow (12 months)
- $3.2B
- Cash
- $89M
- Debt
- $32.2B
- Diluted EPS (12 months)
- $1.56
Twelve months to June 30, 2026, from the 10-Q filed July 24, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Kinder Morgan reported revenue of $18.0 billion, up 12.5% from a year earlier.
Its operating margin was 29.0%, up 1.4 percentage points from a year earlier: for every $100 of sales, about $29 was left as operating profit.
Net income was $3.5 billion (19.3% of revenue), 27.3% higher than a year earlier.
Operating cash flow was $6.6 billion and capital spending $3.4 billion, leaving free cash flow of $3.2 billion (17.6% of revenue). Capital spending equal to 19% of revenue is high; the company is investing heavily.
At the end of the period it held $89 million in cash and $32.2 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 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
- 8-K filed July 22, 2026 — Earnings results
- 8-K filed May 28, 2026 — Material agreement; New debt obligation
- 8-K filed May 19, 2026 — Shareholder vote results
- 8-K filed May 15, 2026 — Regulation FD disclosure
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Questions about Kinder Morgan
Is Kinder Morgan's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $18.0 billion, up 12.5% from a year earlier, according to its SEC filings.
Is Kinder Morgan profitable?
Yes. It earned $3.5 billion in net income over the twelve months to June 30, 2026, a net margin of 19.3%.
Does Kinder Morgan have more cash or more debt?
At June 30, 2026 it had $89 million in cash and $32.2 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 July 24, 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 September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.