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Kinetik Holdings Inc.

EDGAR
ALTM Current report (8-K) · filed 2026-10-26

Annual consolidated revenue for 2025: about USD 1.764B, using the latest reported figures. The previous period, 2024, was about USD 1.483B.

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Watchlist

Latest quarter

Revenue

581 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

23.04%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 133977000 USD Source
  • Revenue: 581440000 USD Source

Operating cash flow

161 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 341520000 USD Source
  • Operating Cash Flow: 180431000 USD Source

Free cash flow

51.9 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 341520000 USD Source
  • Operating Cash Flow: 180431000 USD Source
  • Capital Expenditure: 192263000 USD Source
  • Capital Expenditure: 83029000 USD Source
Cash and cash equivalents
7.83 million USD Source
Exact value

7830000 USD

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

3723000000 USD

Shares outstanding
Not available

Trailing twelve months

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

Revenue

1.89 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 463969000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 1764389000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 1333970000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 409976000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 581440000 USD · 2026-04-01 – 2026-06-30 Source

Net income

196 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 5265000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 178260000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 35040000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: -1667000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 49539000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

640 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 494030000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 305907000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 604120000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 494030000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 180431000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 341520000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 180431000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

483 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 358354000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 201840000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 492474000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 358354000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 83029000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 192263000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 83029000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

157 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 494030000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 305907000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 604120000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 494030000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 180431000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 341520000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 180431000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 358354000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 201840000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 492474000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 358354000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 83029000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 192263000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 83029000 USD · 2026-01-01 – 2026-03-31 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: 2026-10-26.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 9 of 11 periods available· newest 2025-12-31
  • Operating income: 9 of 11 periods available· newest 2025-12-31
  • Net income: 4 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 9 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 9 of 11 periods available· newest 2025-12-31
  • Total liabilities: 9 of 11 periods available· newest 2025-12-31
  • Current assets: 9 of 11 periods available· newest 2025-12-31
  • Current liabilities: 9 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 9 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 8 of 11 periods available· newest 2025-12-31
  • shares outstanding: No compatible figures in this window

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

    +19%

    Prior period

    USD 1.48 billion

    –

    Current period

    USD 1.76 billion

    –

    Exact inputs and evidence

    1764389000 − 1482929000 = 281460000 USD

    1482929000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1764389000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +122.8%

    Prior period

    USD 80.01 million

    –

    Current period

    USD 178.26 million

    –

    Exact inputs and evidence

    178260000 − 80014000 = 98246000 USD

    80014000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    178260000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -5.2%

    Prior period

    USD 637.35 million

    –

    Current period

    USD 604.12 million

    –

    Exact inputs and evidence

    604120000 − 637346000 = -33226000 USD

    637346000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    604120000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +86.9%

    Prior period

    USD 263.54 million

    –

    Current period

    USD 492.47 million

    –

    Exact inputs and evidence

    492474000 − 263544000 = 228930000 USD

    263544000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    492474000 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 1.76 billion 100% of revenue
  • Operating costs Derived USD 1.6 billion 91% of revenue
  • Operating income USD 164.92 million 9.3% of revenue
  • Tax, interest and other Derived −USD 13.34 million −0.8% of revenue
  • Net income USD 178.26 million 10% of revenue

Cash

  • Operating cash flow USD 604.12 million 34% of revenue
  • Capital expenditure USD 492.47 million 28% of revenue
  • Free cash flow Derived USD 111.65 million 6.3% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2017 Operating loss: operating costs were 176% of revenue.
  • 2018 Not shown: operating income or net income is not reported.
  • 2019 Not shown: operating income or net income is not reported.
  • 2020 Not shown: operating income or net income is not reported.
  • 2021 Not shown: operating income or net income is not reported.
  • 2022 Not shown: operating income or net income is not reported.
  • 2023 Net income was higher than operating income, so the split is not drawn.
  • 2024 88%
  • 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2017 2017-01-01 – 2017-12-3115142000 26676000 Derived -11534000 -11346892 Derived -187108 0 Derived
Source
2018 2018-01-01 – 2018-12-3176750000 88991000 Derived -12241000 UnavailableUnavailable-83339000 Derived
Source
2019 2019-01-01 – 2019-12-31135798000 1421589000 Derived -1285791000 UnavailableUnavailableUnavailable
Source
2020 2020-01-01 – 2020-12-31410176000 1430649000 Derived -1020473000 UnavailableUnavailable-79327000 Derived
Source
2021 2021-01-01 – 2021-12-31662044000 608553000 Derived 53491000 UnavailableUnavailable157539000 Derived
Source
2022 2022-01-01 – 2022-12-311213490000 1063001000 Derived 150489000 UnavailableUnavailable406846000 Derived
Source
2023 2023-01-01 – 2023-12-311256412000 1097157000 Derived 159255000 -130187000 Derived 289442000 271620000 Derived
Source
2024 2024-01-01 – 2024-12-311482929000 1303696000 Derived 179233000 99219000 Derived 80014000 373802000 Derived
Source
2025 2025-01-01 – 2025-12-311764389000 1599470000 Derived 164919000 -13341000 Derived 178260000 111646000 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 1.8B 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.1.9B1.4B952.8M476.4M0.0201720212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Revenue15142000
2018Revenue76750000
2019Revenue135798000
2020Revenue410176000
2021Revenue662044000
2022Revenue1213490000
2023Revenue1256412000
2024Revenue1482929000
2025Revenue1764389000

Revenue growth

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

19% 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.439%330%220%110%0%201720212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2017Year over yearNo prior comparable period
2018Year over year406.9%
2019Year over year76.9%
2020Year over year202%
2021Year over year61.4%
2022Year over year83.3%
2023Year over year3.5%
2024Year over year18%
2025Year over year19%

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 9.3% 2025
Net margin 10.1% 2025
Free cash flow margin 6.3% 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.112%-172%-457%-741%-1,025%201720212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2017Operating margin-76.2%
2018Operating margin-15.9%
2019Operating margin-946.8%
2020Operating margin-248.8%
2021Operating margin8.1%
2022Operating margin12.4%
2023Operating margin12.7%
2024Operating margin12.1%
2025Operating margin9.3%
2017Net margin-1.2%
2018-12-31Net marginNot reported
2019-12-31Net marginNot reported
2020-12-31Net marginNot reported
2021-12-31Net marginNot reported
2022-12-31Net marginNot reported
2023Net margin23%
2024Net margin5.4%
2025Net margin10.1%
2017Free cash flow margin0%
2018Free cash flow margin-108.6%
2019Free cash flow marginNot reported
2020Free cash flow margin-19.3%
2021Free cash flow margin23.8%
2022Free cash flow margin33.5%
2023Free cash flow margin21.6%
2024Free cash flow margin25.2%
2025Free cash flow margin6.3%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 604.1M 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.688.3M516.3M344.2M172.1M0.0201720212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Operating cash flow0
2018Operating cash flow661000
2019Operating cash flow76273000
2020Operating cash flow102096000
2021Operating cash flow235569000
2022Operating cash flow613006000
2023Operating cash flow584480000
2024Operating cash flow637346000
2025Operating cash flow604120000

Free cash flow

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

USD 111.6M 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.446.1M303.9M161.8M19.6M-122.6M201720212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Free cash flow0
2018Free cash flow-83339000
2019Free cash flowUnavailable
2020Free cash flow-79327000
2021Free cash flow157539000
2022Free cash flow406846000
2023Free cash flow271620000
2024Free cash flow373802000
2025Free cash flow111646000

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.

58.7% 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.77%58%39%19%0%201720212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2017Liabilities / assets21.2%
2018Liabilities / assets7%
2019Liabilities / assets39.8%
2020Liabilities / assets48%
2021Liabilities / assets71.7%
2022Liabilities / assets61.6%
2023Liabilities / assets59.6%
2024Liabilities / assets56.3%
2025Liabilities / assets58.7%

Current assets to current liabilities

Current assets divided by current liabilities.

0.69× 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.5.13×3.85×2.57×1.28×0.00×201720212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2017Current assets / current liabilities0.05×
2018Current assets / current liabilities4.75×
2019Current assets / current liabilities0.94×
2020Current assets / current liabilities1.43×
2021Current assets / current liabilities0.9×
2022Current assets / current liabilities1.06×
2023Current assets / current liabilities1.03×
2024Current assets / current liabilities0.7×
2025Current assets / current liabilities0.69×

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
2017 2017-01-01 – 2017-12-31
−USD 187,108
Exact value

Exact value: -187108 USD

2017-01-01 – 2017-12-31: -187108 USD Inspect Net Income Open source
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USD 0
Exact value

Exact value: 0 USD

2017-01-01 – 2017-12-31: 0 USD Inspect Operating Cash Flow Open source
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USD 0
Exact value

Exact value: 0 USD

2017-01-01 – 2017-12-31: 0 USD Inspect Capital Expenditure Open source
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USD 0
Calculation and evidence

0 − 0 USD

Exact free cash flow: 0 USD

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2018 2018-01-01 – 2018-12-31
Unavailable Not reported for this period.
USD 661,000
Exact value

Exact value: 661000 USD

2018-01-01 – 2018-12-31: 661000 USD Inspect Operating Cash Flow Open source
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USD 84 million
Exact value

Exact value: 84000000 USD

2018-01-01 – 2018-12-31: 84000000 USD Inspect Capital Expenditure Open source
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−USD 83.34 million
Calculation and evidence

661000 − 84000000 USD

Exact free cash flow: -83339000 USD

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2019 2019-01-01 – 2019-12-31
Unavailable Not reported for this period.
USD 76.27 million
Exact value

Exact value: 76273000 USD

2019-01-01 – 2019-12-31: 76273000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
Unavailable Not reported for this period.
USD 102.1 million
Exact value

Exact value: 102096000 USD

2020-01-01 – 2020-12-31: 102096000 USD Inspect Operating Cash Flow Open source
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USD 181.42 million
Exact value

Exact value: 181423000 USD

2020-01-01 – 2020-12-31: 181423000 USD Inspect Capital Expenditure Open source
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−USD 79.33 million
Calculation and evidence

102096000 − 181423000 USD

Exact free cash flow: -79327000 USD

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2021 2021-01-01 – 2021-12-31
Unavailable Not reported for this period.
USD 235.57 million
Exact value

Exact value: 235569000 USD

2021-01-01 – 2021-12-31: 235569000 USD Inspect Operating Cash Flow Open source
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USD 78.03 million
Exact value

Exact value: 78030000 USD

2021-01-01 – 2021-12-31: 78030000 USD Inspect Capital Expenditure Open source
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USD 157.54 million
Calculation and evidence

235569000 − 78030000 USD

Exact free cash flow: 157539000 USD

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2022 2022-01-01 – 2022-12-31
Unavailable Not reported for this period.
USD 613.01 million
Exact value

Exact value: 613006000 USD

2022-01-01 – 2022-12-31: 613006000 USD Inspect Operating Cash Flow Open source
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USD 206.16 million
Exact value

Exact value: 206160000 USD

2022-01-01 – 2022-12-31: 206160000 USD Inspect Capital Expenditure Open source
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USD 406.85 million
Calculation and evidence

613006000 − 206160000 USD

Exact free cash flow: 406846000 USD

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2023 2023-01-01 – 2023-12-31
USD 289.44 million
Exact value

Exact value: 289442000 USD

2023-01-01 – 2023-12-31: 289442000 USD Inspect Net Income Open source
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USD 584.48 million
Exact value

Exact value: 584480000 USD

2023-01-01 – 2023-12-31: 584480000 USD Inspect Operating Cash Flow Open source
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USD 312.86 million
Exact value

Exact value: 312860000 USD

2023-01-01 – 2023-12-31: 312860000 USD Inspect Capital Expenditure Open source
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USD 271.62 million
Calculation and evidence

584480000 − 312860000 USD

Exact free cash flow: 271620000 USD

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2024 2024-01-01 – 2024-12-31
USD 80.01 million
Exact value

Exact value: 80014000 USD

2024-01-01 – 2024-12-31: 80014000 USD Inspect Net Income Open source
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USD 637.35 million
Exact value

Exact value: 637346000 USD

2024-01-01 – 2024-12-31: 637346000 USD Inspect Operating Cash Flow Open source
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USD 263.54 million
Exact value

Exact value: 263544000 USD

2024-01-01 – 2024-12-31: 263544000 USD Inspect Capital Expenditure Open source
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USD 373.8 million
Calculation and evidence

637346000 − 263544000 USD

Exact free cash flow: 373802000 USD

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2025 2025-01-01 – 2025-12-31
USD 178.26 million
Exact value

Exact value: 178260000 USD

2025-01-01 – 2025-12-31: 178260000 USD Inspect Net Income Open source
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USD 604.12 million
Exact value

Exact value: 604120000 USD

2025-01-01 – 2025-12-31: 604120000 USD Inspect Operating Cash Flow Open source
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USD 492.47 million
Exact value

Exact value: 492474000 USD

2025-01-01 – 2025-12-31: 492474000 USD Inspect Capital Expenditure Open source
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USD 111.65 million
Calculation and evidence

604120000 − 492474000 USD

Exact free cash flow: 111646000 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.

97 filings · 3,178 latest values · 3,143 originally reported values

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

Identifiers: 0001692787, 1692787, ALTM, KAAC, KNTK, edgar:1692787

Also known as Altus Midstream Co, Altus Midstream Company, KINETIK HOLDINGS INC., Kayne Anderson Acquisition Corp, Kinetik Holdings Inc.