KINDER MORGAN, INC.

EDGAR

Annual consolidated revenue for 2025: about USD 16.94B, using the latest reported figures. The previous period, 2024, was about USD 15.1B.

Watchlist

Latest quarter

Revenue

4.53 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 4531000000 USD Source

Operating margin

25.6%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 1160000000 USD Source
  • Revenue: 4531000000 USD Source

Operating cash flow

1.59 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 5041000000 USD Source
  • Operating Cash Flow: 3451000000 USD Source

Free cash flow

545 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 5041000000 USD Source
  • Operating Cash Flow: 3451000000 USD Source
  • Capital Expenditure: 2831000000 USD Source
  • Capital Expenditure: 1786000000 USD Source
Cash and cash equivalents
918 million USD Source
Exact value

918000000 USD

Long-term debt including current maturities
37.3 billion USD Source
Exact value

37317000000 USD

Shares outstanding
2.23 billion shares Source
Exact value

2227712648 shares

Reported share-count change

0.13% · 2.96 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 2224753580 shares · 2025-09-30· Source
  • 2227712648 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

18.3 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 16937000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 12429000000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 4828000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 4477000000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 4531000000 USD · 2026-07-01 – 2026-09-30 Source

Net income

3.6 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 3056000000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 2060000000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 976000000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 867000000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 764000000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

6.73 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 5917000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4225000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1491000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 3451000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1491000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 5041000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 3451000000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

3.65 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 3026000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 2206000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 804000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 1786000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 804000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 2831000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 1786000000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

3.08 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 5917000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4225000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1491000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 3451000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1491000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 5041000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 3451000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 3026000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 2206000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 804000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 1786000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 804000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 2831000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 1786000000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-23.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2017-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +12.2%

    Prior period

    USD 15.1 billion

    –

    Current period

    USD 16.94 billion

    –

    Exact inputs and evidence

    16937000000 − 15100000000 = 1837000000 USD

    15100000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    16937000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +17%

    Prior period

    USD 2.61 billion

    –

    Current period

    USD 3.06 billion

    –

    Exact inputs and evidence

    3056000000 − 2613000000 = 443000000 USD

    2613000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3056000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +5%

    Prior period

    USD 5.64 billion

    –

    Current period

    USD 5.92 billion

    –

    Exact inputs and evidence

    5917000000 − 5635000000 = 282000000 USD

    5635000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    5917000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +15.1%

    Prior period

    USD 2.63 billion

    –

    Current period

    USD 3.03 billion

    –

    Exact inputs and evidence

    3026000000 − 2629000000 = 397000000 USD

    2629000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3026000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 16.94 billion 100% of revenue
  • Operating costs Derived USD 12.21 billion 72% of revenue
  • Operating income USD 4.72 billion 28% of revenue
  • Tax, interest and other Derived USD 1.67 billion 9.8% of revenue
  • Net income USD 3.06 billion 18% of revenue

Cash

  • Operating cash flow USD 5.92 billion 35% of revenue
  • Capital expenditure USD 3.03 billion 18% of revenue
  • Free cash flow Derived USD 2.89 billion 17% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 22%73%
  • 2017 24%74%
  • 2018 11%15%73%
  • 2019 17%20%63%
  • 2020 12%87%
  • 2021 11%82%
  • 2022 13%79%
  • 2023 16%12%72%
  • 2024 17%12%71%
  • 2025 18%9.8%72%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-3113058000000 9520000000 Derived 3538000000 2830000000 Derived 708000000 1876000000 Derived
Source
2017 2017-01-01 – 2017-12-3113705000000 10176000000 Derived 3529000000 3346000000 Derived 183000000 1413000000 Derived
Source
2018 2018-01-01 – 2018-12-3114144000000 10350000000 Derived 3794000000 2185000000 Derived 1609000000 2139000000 Derived
Source
2019 2019-01-01 – 2019-12-3113209000000 8336000000 Derived 4873000000 2683000000 Derived 2190000000 2478000000 Derived
Source
2020 2020-01-01 – 2020-12-3111700000000 10140000000 Derived 1560000000 1441000000 Derived 119000000 2843000000 Derived
Source
2021 2021-01-01 – 2021-12-3116610000000 13694000000 Derived 2916000000 1132000000 Derived 1784000000 4427000000 Derived
Source
2022 2022-01-01 – 2022-12-3119200000000 15135000000 Derived 4065000000 1517000000 Derived 2548000000 3346000000 Derived
Source
2023 2023-01-01 – 2023-12-3115334000000 11071000000 Derived 4263000000 1872000000 Derived 2391000000 4174000000 Derived
Source
2024 2024-01-01 – 2024-12-3115100000000 10716000000 Derived 4384000000 1771000000 Derived 2613000000 3006000000 Derived
Source
2025 2025-01-01 – 2025-12-3116937000000 12213000000 Derived 4724000000 1668000000 Derived 3056000000 2891000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 16.9B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.20.7B15.6B10.4B5.2B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue13058000000
2017Revenue13705000000
2018Revenue14144000000
2019Revenue13209000000
2020Revenue11700000000
2021Revenue16610000000
2022Revenue19200000000
2023Revenue15334000000
2024Revenue15100000000
2025Revenue16937000000

Revenue growth

Change in revenue from the same financial period one year earlier.

12.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.47%29%11%-7%-25%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year-9.3%
2017Year over year5%
2018Year over year3.2%
2019Year over year-6.6%
2020Year over year-11.4%
2021Year over year42%
2022Year over year15.6%
2023Year over year-20.1%
2024Year over year-1.5%
2025Year over year12.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 27.9% 2025
Net margin 18% 2025
Free cash flow margin 17.1% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.39.8%29.9%19.9%10.0%0.0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin27.1%
2017Operating margin25.7%
2018Operating margin26.8%
2019Operating margin36.9%
2020Operating margin13.3%
2021Operating margin17.6%
2022Operating margin21.2%
2023Operating margin27.8%
2024Operating margin29%
2025Operating margin27.9%
2016Net margin5.4%
2017Net margin1.3%
2018Net margin11.4%
2019Net margin16.6%
2020Net margin1%
2021Net margin10.7%
2022Net margin13.3%
2023Net margin15.6%
2024Net margin17.3%
2025Net margin18%
2016Free cash flow margin14.4%
2017Free cash flow margin10.3%
2018Free cash flow margin15.1%
2019Free cash flow margin18.8%
2020Free cash flow margin24.3%
2021Free cash flow margin26.7%
2022Free cash flow margin17.4%
2023Free cash flow margin27.2%
2024Free cash flow margin19.9%
2025Free cash flow margin17.1%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 5.9B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.7.0B5.3B3.5B1.8B0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow4758000000
2017Operating cash flow4601000000
2018Operating cash flow5043000000
2019Operating cash flow4748000000
2020Operating cash flow4550000000
2021Operating cash flow5708000000
2022Operating cash flow4967000000
2023Operating cash flow6491000000
2024Operating cash flow5635000000
2025Operating cash flow5917000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 2.9B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.8B3.6B2.4B1.2B0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow1876000000
2017Free cash flow1413000000
2018Free cash flow2139000000
2019Free cash flow2478000000
2020Free cash flow2843000000
2021Free cash flow4427000000
2022Free cash flow3346000000
2023Free cash flow4174000000
2024Free cash flow3006000000
2025Free cash flow2891000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

55.4% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.61%46%31%15%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets56.7%
2017Liabilities / assets55.6%
2018Liabilities / assets55.4%
2019Liabilities / assets53%
2020Liabilities / assets54.8%
2021Liabilities / assets54.7%
2022Liabilities / assets54.2%
2023Liabilities / assets55.3%
2024Liabilities / assets55.4%
2025Liabilities / assets55.4%

Current assets to current liabilities

Current assets divided by current liabilities.

0.64× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.0.82×0.61×0.41×0.20×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities0.55×
2017Current assets / current liabilities0.44×
2018Current assets / current liabilities0.76×
2019Current assets / current liabilities0.63×
2020Current assets / current liabilities0.63×
2021Current assets / current liabilities0.66×
2022Current assets / current liabilities0.55×
2023Current assets / current liabilities0.35×
2024Current assets / current liabilities0.49×
2025Current assets / current liabilities0.64×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 708 million
Exact value

Exact value: 708000000 USD

2016-01-01 – 2016-12-31: 708000000 USD Inspect Net Income Open source
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USD 4.76 billion
Exact value

Exact value: 4758000000 USD

2016-01-01 – 2016-12-31: 4758000000 USD Inspect Operating Cash Flow Open source
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USD 2.88 billion
Exact value

Exact value: 2882000000 USD

2016-01-01 – 2016-12-31: 2882000000 USD Inspect Capital Expenditure Open source
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USD 1.88 billion
Calculation and evidence

4758000000 − 2882000000 USD

Exact free cash flow: 1876000000 USD

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2017 2017-01-01 – 2017-12-31
USD 183 million
Exact value

Exact value: 183000000 USD

2017-01-01 – 2017-12-31: 183000000 USD Inspect Net Income Open source
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USD 4.6 billion
Exact value

Exact value: 4601000000 USD

2017-01-01 – 2017-12-31: 4601000000 USD Inspect Operating Cash Flow Open source
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USD 3.19 billion
Exact value

Exact value: 3188000000 USD

2017-01-01 – 2017-12-31: 3188000000 USD Inspect Capital Expenditure Open source
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USD 1.41 billion
Calculation and evidence

4601000000 − 3188000000 USD

Exact free cash flow: 1413000000 USD

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2018 2018-01-01 – 2018-12-31
USD 1.61 billion
Exact value

Exact value: 1609000000 USD

2018-01-01 – 2018-12-31: 1609000000 USD Inspect Net Income Open source
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USD 5.04 billion
Exact value

Exact value: 5043000000 USD

2018-01-01 – 2018-12-31: 5043000000 USD Inspect Operating Cash Flow Open source
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USD 2.9 billion
Exact value

Exact value: 2904000000 USD

2018-01-01 – 2018-12-31: 2904000000 USD Inspect Capital Expenditure Open source
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USD 2.14 billion
Calculation and evidence

5043000000 − 2904000000 USD

Exact free cash flow: 2139000000 USD

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2019 2019-01-01 – 2019-12-31
USD 2.19 billion
Exact value

Exact value: 2190000000 USD

2019-01-01 – 2019-12-31: 2190000000 USD Inspect Net Income Open source
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USD 4.75 billion
Exact value

Exact value: 4748000000 USD

2019-01-01 – 2019-12-31: 4748000000 USD Inspect Operating Cash Flow Open source
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USD 2.27 billion
Exact value

Exact value: 2270000000 USD

2019-01-01 – 2019-12-31: 2270000000 USD Inspect Capital Expenditure Open source
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USD 2.48 billion
Calculation and evidence

4748000000 − 2270000000 USD

Exact free cash flow: 2478000000 USD

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2020 2020-01-01 – 2020-12-31
USD 119 million
Exact value

Exact value: 119000000 USD

2020-01-01 – 2020-12-31: 119000000 USD Inspect Net Income Open source
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USD 4.55 billion
Exact value

Exact value: 4550000000 USD

2020-01-01 – 2020-12-31: 4550000000 USD Inspect Operating Cash Flow Open source
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USD 1.71 billion
Exact value

Exact value: 1707000000 USD

2020-01-01 – 2020-12-31: 1707000000 USD Inspect Capital Expenditure Open source
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USD 2.84 billion
Calculation and evidence

4550000000 − 1707000000 USD

Exact free cash flow: 2843000000 USD

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2021 2021-01-01 – 2021-12-31
USD 1.78 billion
Exact value

Exact value: 1784000000 USD

2021-01-01 – 2021-12-31: 1784000000 USD Inspect Net Income Open source
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USD 5.71 billion
Exact value

Exact value: 5708000000 USD

2021-01-01 – 2021-12-31: 5708000000 USD Inspect Operating Cash Flow Open source
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USD 1.28 billion
Exact value

Exact value: 1281000000 USD

2021-01-01 – 2021-12-31: 1281000000 USD Inspect Capital Expenditure Open source
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USD 4.43 billion
Calculation and evidence

5708000000 − 1281000000 USD

Exact free cash flow: 4427000000 USD

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2022 2022-01-01 – 2022-12-31
USD 2.55 billion
Exact value

Exact value: 2548000000 USD

2022-01-01 – 2022-12-31: 2548000000 USD Inspect Net Income Open source
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USD 4.97 billion
Exact value

Exact value: 4967000000 USD

2022-01-01 – 2022-12-31: 4967000000 USD Inspect Operating Cash Flow Open source
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USD 1.62 billion
Exact value

Exact value: 1621000000 USD

2022-01-01 – 2022-12-31: 1621000000 USD Inspect Capital Expenditure Open source
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USD 3.35 billion
Calculation and evidence

4967000000 − 1621000000 USD

Exact free cash flow: 3346000000 USD

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2023 2023-01-01 – 2023-12-31
USD 2.39 billion
Exact value

Exact value: 2391000000 USD

2023-01-01 – 2023-12-31: 2391000000 USD Inspect Net Income Open source
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USD 6.49 billion
Exact value

Exact value: 6491000000 USD

2023-01-01 – 2023-12-31: 6491000000 USD Inspect Operating Cash Flow Open source
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USD 2.32 billion
Exact value

Exact value: 2317000000 USD

2023-01-01 – 2023-12-31: 2317000000 USD Inspect Capital Expenditure Open source
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USD 4.17 billion
Calculation and evidence

6491000000 − 2317000000 USD

Exact free cash flow: 4174000000 USD

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2024 2024-01-01 – 2024-12-31
USD 2.61 billion
Exact value

Exact value: 2613000000 USD

2024-01-01 – 2024-12-31: 2613000000 USD Inspect Net Income Open source
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USD 5.64 billion
Exact value

Exact value: 5635000000 USD

2024-01-01 – 2024-12-31: 5635000000 USD Inspect Operating Cash Flow Open source
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USD 2.63 billion
Exact value

Exact value: 2629000000 USD

2024-01-01 – 2024-12-31: 2629000000 USD Inspect Capital Expenditure Open source
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USD 3.01 billion
Calculation and evidence

5635000000 − 2629000000 USD

Exact free cash flow: 3006000000 USD

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2025 2025-01-01 – 2025-12-31
USD 3.06 billion
Exact value

Exact value: 3056000000 USD

2025-01-01 – 2025-12-31: 3056000000 USD Inspect Net Income Open source
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USD 5.92 billion
Exact value

Exact value: 5917000000 USD

2025-01-01 – 2025-12-31: 5917000000 USD Inspect Operating Cash Flow Open source
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USD 3.03 billion
Exact value

Exact value: 3026000000 USD

2025-01-01 – 2025-12-31: 3026000000 USD Inspect Capital Expenditure Open source
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USD 2.89 billion
Calculation and evidence

5917000000 − 3026000000 USD

Exact free cash flow: 2891000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

141 filings · 21,685 latest values · 21,679 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001506307, 1506307, EP-PC, KMI, edgar:1506307

Also known as KINDER MORGAN, INC., KINDER MORGAN, INC. , KINDER MORGAN, INC. , Kinder Morgan Holdco LLC, Kinder Morgan, Inc.