Sunday 1 November 2026 Export KMI’s income statement to Excel — free account

Kinder Morgan, Inc.

Kinder Morgan, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.9 billion, up 12.2% from fiscal 2024.

Revenue: +10.8%
EPS: +21.9%
Free cash flow: −52.6%
Total debt: −1.26%

Quarter to June 2026, against a year earlier

33.87 0.10 −0.29%

Follow KMI

Alert me

Market cap: $75.7B
P/E: 21.7×
Fwd P/E: 22.0×
Dividend yield: 4.36%
F-score: 6/9
Altman Z: 1.14
Beneish M: −2.50
Dividend safety: 22/100

Overview Business Profile Segments Filings

Kinder Morgan, Inc. (KMI) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2017: revenue by segment, and margins
Natural Gas Pipelines	8,502	62.04%
Terminals	1,972	14.39%
Products Pipelines	1,744	12.73%
CO2	1,196	8.73%
Kinder Morgan Canada	256	1.87%
Gross margin		68.30%
Operating margin		25.75%
Pre-tax margin		15.77%

Revenue by product or service $m

Line	FY2017	FY2016
Services	7,885 57.53%	8,146 62.38%
Commodity sales	5,654 41.26%	—
Other	166 1.21%	—
Product sales and other	—	2,458 18.82%
Natural gas sales	—	2,454 18.79%
Revenue	13,705	13,058

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2013	FY2010
Unallocated	—	—	—	—	—	—	—	—	—	36 0.26%	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	(6) (0.04%)	—
Also reported: a second breakdown of the same revenue
Natural Gas Pipelines	10,354 68.11%	8,225 61.00%	8,312 60.91%	12,172 67.14%	11,871 73.49%	6,659 65.95%	7,737 64.05%	8,596 64.54%	8,502 62.04%	8,613 61.22%	4,078 51.94%
Products Pipelines	2,468 16.23%	2,723 20.20%	2,842 20.83%	3,201 17.66%	2,053 12.71%	1,534 15.19%	1,624 13.44%	1,725 12.95%	1,744 12.73%	1,853 13.17%	883 11.25%
Terminals	1,357 8.93%	1,356 10.06%	1,279 9.37%	1,218 6.72%	1,150 7.12%	1,165 11.54%	1,592 13.18%	1,587 11.92%	1,972 14.39%	1,408 10.01%	1,264 16.10%
CO2	1,055 6.94%	1,202 8.91%	1,240 9.09%	1,567 8.64%	1,148 7.11%	779 7.72%	1,173 9.71%	1,293 9.71%	1,196 8.73%	1,857 13.20%	1,299 16.54%
Kinder Morgan Canada	—	—	—	—	—	—	—	167 1.25%	256 1.87%	302 2.15%	268 3.41%
Other Segments	—	—	—	—	—	—	—	—	—	1 0.01%	9 0.11%
Parent Company	—	—	—	—	—	—	—	—	—	—	49 0.62%
Consolidation, Eliminations	—	—	—	—	—	—	—	—	—	—	0 0.00%
Guarantor Subsidiaries	—	—	—	—	—	—	—	—	—	—	0 0.00%
Subsidiary Issuer	—	—	—	—	—	—	—	—	—	—	0 0.00%
Consolidated Entity Excluding Variable Interest Entities (VIE)	—	—	—	—	—	—	—	—	—	—	7,852
Non-Guarantor Subsidiaries	—	—	—	—	—	—	—	—	—	—	7,803
Operating Segments	—	—	—	—	—	—	—	—	—	14,040	—
Revenue	15,202	13,483	13,647	18,128	16,154	10,097	12,080	13,318	13,705	14,070	7,852

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2013	FY2010
Consolidated Entity Excluding Variable Interest Entities (VIE)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Guarantor Subsidiaries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Non-Guarantor Subsidiaries	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Consolidation, Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Parent Company	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Subsidiary Issuer	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
U.S.	13,073 95.39%	12,459 95.41%	13,797 95.79%	15,605 96.17%	13,656 97.06%	9,488 95.14%	7,513 94.59%
California	503 3.67%	483 3.70%	479 3.33%	437 2.69%	398 2.83%	407 4.08%	411 5.17%
Mexico	129 0.94%	116 0.89%	127 0.88%	184 1.13%	16 0.11%	78 0.78%	19 0.24%
Revenue	13,705	13,058	14,403	16,226	14,070	9,973	7,943

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Bulk transload tonnage	Q3 FY2026	13.5M	12.3M	+9.76%
Crude and condensate	Q3 FY2026	410.0K	459.0K	−10.68%
Diesel fuel	Q3 FY2026	363.0K	373.0K	−2.68%
Gasoline	Q3 FY2026	940.0K	978.0K	−3.89%
Gathering volumes	Q3 FY2026	4.72T	4.38T	+7.81%
Jet fuel	Q3 FY2026	293.0K	301.0K	−2.66%
Liquids leasable capacity	Q3 FY2026	78.7M	78.7M	0.00%
NGLs	Q3 FY2026	58.0K	39.0K	+48.72%
Pipelines	Q3 FY2026	78.0K	79.0K	−1.27%
Project backlog	Q3 FY2026	$14.4B	$9.3B	+54.84%
Remaining performance obligations	Q3 FY2025	$35.7B	$32.8B	+8.64%
RNG generation capacity	Q3 FY2026	6.9B	6.9B	0.00%
SACROC oil production	Q3 FY2026	20.1K	18.0K	+11.33%
Sales volumes	Q3 FY2026	4.13T	3.71T	+11.29%
Terminals	Q3 FY2026	130.00	139.00	−6.47%
Total delivery volumes	Q3 FY2026	2.0M	2.1M	−4.97%
Total refined product volumes	Q3 FY2026	1.6M	1.7M	−3.39%
Transport volumes	Q3 FY2026	49.27T	47.46T	+3.82%
Working natural gas storage capacity	Q3 FY2026	700.0B	700.0B	0.00%
Yates oil production	Q2 FY2026	5.9K	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Bulk transload tonnage	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude and condensate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Diesel fuel	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gasoline	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gathering volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Jet fuel	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Liquids leasable capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGLs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Pipelines	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Project backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
RNG generation capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
SACROC oil production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sales volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Terminals	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total delivery volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total refined product volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Transport volumes	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Working natural gas storage capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Yates oil production	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.