Is Kinder Morgan (KMI) overvalued or fairly valued?

MarketChacha shows Kinder Morgan's valuation in context — a trailing P/E of about 21.9, a forward P/E of about 20.4, a price-to-book of about 2.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Kinder Morgan's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.24×) from reported figures — education, not a rating.

What is Kinder Morgan's revenue?

Kinder Morgan reported revenue of $15.2B for FY2025, with net profit of $3.1B, per official filings.

What is the share price of Kinder Morgan (KMI)?

Kinder Morgan last traded at $31.39 (-0.7% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Kinder Morgan

KMI · NYSE · Energy · United States

Snapshot

TickerKMI

ExchangeNYSE

SectorEnergy

IndustryOil & Gas Midstream

CountryUnited States

Employees11,028

HeadquartersHouston, United States

Websitewww.kindermorgan.com

Filings tracked21

About Kinder Morgan

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.

Who owns it

Insiders12.7%
Institutions70.8%
Public & other16.5%

2,291 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.7.90%
State Street Corporation5.88%
Vanguard Capital Management LLC5.64%
Vanguard Portfolio Management LLC3.05%
Bank of America Corporation2.76%
Geode Capital Management, LLC2.50%
NORGES BANK1.69%
JPMORGAN CHASE & CO1.46%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion2.24×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend17.5% → 20.1%

Margin has expanded by about 2.6 points — the business is getting more profitable.

Growth qualityrev 6% · PAT 13%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $4.7B · EPS 0.38

Est. earnings growth -1.6%

Next fiscal year

Rev $18.8B · EPS 1.54

Est. earnings growth -1.3%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$15.2B

Net margin

20.1%

ROE

9.8%

Revenue CAGR (2y)

+5.5%

Profit CAGR (2y)

+13.1%

EPS (FY2025)

1.37

Net profit (FY2025)

$3.1B

Ask MarketChacha about KMI

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$15.2B	$3.1B	1.37	20.1%	9.8%
FY2024	$13.5B	$2.6B	1.17	19.4%	8.6%
FY2023	$13.6B	$2.4B	1.06	17.5%	7.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$4.1B	$867.0M	0.39	21.2%
2026Q1	$4.5B	$976.0M	0.44	21.9%
2025Q3	$3.7B	$628.0M	0.28	16.9%
2025Q2	$3.6B	$715.0M	0.32	19.8%
2025Q1	$3.9B	$717.0M	0.32	18.6%
2024Q3	$3.3B	$625.0M	0.28	19.0%
2024Q2	$3.2B	$575.0M	0.26	17.9%
2024Q1	$3.4B	$746.0M	0.33	21.9%
2023Q3	$3.5B	$532.0M	0.24	15.0%
2023Q2	$3.1B	$586.0M	0.26	18.9%
2023Q1	$3.4B	$679.0M	0.30	19.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure
SEC8/10/2026material
8-K — Other events, Exhibits
SEC8/3/2026material
10-Q filing
SEC7/24/2026
8-K — Results of operations, Exhibits
SEC7/22/2026material
8-K — Material agreement, Material financial obligation
SEC5/28/2026material
8-K — Shareholder vote results
SEC5/19/2026material
8-K — Reg FD disclosure
SEC5/15/2026material
8-K — Reg FD disclosure
SEC4/27/2026material
10-Q filing
SEC4/24/2026
8-K — Results of operations, Executive/director change, Exhibits
SEC4/22/2026material
8-K — Reg FD disclosure
SEC2/23/2026material
10-K filing
SEC2/13/2026
8-K — Reg FD disclosure
SEC1/29/2026material
8-K — Results of operations, Exhibits
SEC1/21/2026material

2025

8-K — Reg FD disclosure
SEC12/5/2025material
8-K — Reg FD disclosure
SEC11/7/2025material
10-Q filing
SEC10/24/2025
8-K — Results of operations, Exhibits
SEC10/22/2025material
8-K — Reg FD disclosure
SEC9/26/2025material
8-K — Reg FD disclosure
SEC8/29/2025material
8-K — Reg FD disclosure
SEC8/7/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.