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Kinetik Holdings Inc.

KNTK Energy Oil & Gas Midstream

Kinetik Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 19.0% from fiscal 2024. In the quarter to June 2026, revenue grew 36.3%, EPS grew 97.0%, free cash flow grew 776.0% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

55.30 1.86 +3.48%
Market cap
$8.7B
P/E
19.8×
Fwd P/E
54.5×
Dividend yield
5.80%
F-score
5/9
Altman Z
0.32
Beneish M
−2.47
Dividend safety
12/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.28
Total sells 439.39
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — — — — —
Sell — — 1 1 4 3 — — — 8 5 2
Insider Ownership 16.62%

Capital & Financial Ratios $m

Market Cap 8,680.00
Revenue 1,885.80
Net Income 550.24
Free Cash Flow 123.36
Net Debt 3,955.56
Current Ratio 0.68 (below 1: weak)
Debt/Equity (3.34) (negative: negative equity)
P/E ratio 19.82
Fwd P/E 54.50 (above 35: high)
P/S ratio 2.20
P/B ratio 0.00
Past 5Y EPS Growth 79.79% (at or above 15%: strong)
This Y EPS Growth (42.50%) (below 0%: weak)
Next Y EPS Growth 30.73% (at or above 15%: strong)
Next Y revenue growth 16.70% (at or above 10%: strong)
Next 5Y EPS Growth (2.07%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.3×, against a ten-year median of 4.1×; over the ten years it ranged from −1.6× in 2019 to 12.4× in 2019.
P/E against its own 10 years 46.45%
10-year low 10-year high
P/S against its own 10 years 87.19%
10-year low 10-year high
EV/Sales against its own 10 years 57.35%
10-year low 10-year high
EV/FCF against its own 10 years 85.35%
10-year low 10-year high

Dividends

Payout Ratio 1.16
Annual Dividend Rate 3.21
Annual Dividend Yield 5.80%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.25
0.81
0.81
0.81
2025 3.12
0.78
0.78
0.78
0.78
2024 3.03
0.75
0.75
0.75
0.78
2023 3.00
0.75
0.75
0.75
0.75
2022 2.25
0.75
0.75
0.75
2021 3.00
0.75
0.75
0.75
0.75
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5 4 4 8
Receivables 216 252 250 286
Inventory — — — —
Other 8 2 14 20
257 295 302 350
2023 2024 2025 Q'26
Payables 34 27 42 49
ST’ Debt — 140 165 225
Other 10 46 18 30
250 419 441 512

Compound Annual Growth %

10y 5y 3y
Sales — 33.88% 13.29%
Cash Flow — 42.70% (0.49%)
Earnings — 126.35% 42.89%
Book Value — 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 410 581 — — —
’25 443 427 464 430 1,764
’24 341 359 396 386 1,483
’23 281 296 330 349 1,256
’22 257 336 325 295 1,213
’21 148 136 167 56 662
’20 41 32 40 35 410
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 180 161 — — —
’25 177 129 188 110 604
’24 154 126 214 144 637
’23 120 111 175 179 584
’22 98 171 184 160 613
’21 42 53 65 76 236
’20 52 35 51 (35) 102
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 91 46 — — —
’25 95 (7) 16 (30) 75
’24 94 86 151 32 362
’23 51 6 88 110 255
’22 66 124 90 112 392
’21 21 31 46 58 156
’20 39 29 48 (212) (97)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.07) 0.64 — — —
’25 0.05 0.33 0.03 2.16 2.63
’24 0.12 0.54 0.35 0.01 1.02
’23 (0.06) 0.41 0.21 1.70 2.38
’22 0.03 0.66 0.63 (25.39) 1.48
’20 (0.78) (0.03) 0.15 1.26 0.14
’19 0.10 (0.73) (0.25) (176.41) (177.22)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — 73.30 16.30 4.70 22.78 29.05 26.32 31.73 31.33

Analyst estimates 2026–2028

Powerpack
High — — 104.80 94.60 29.30 45.50 44.99 37.17 62.55 67.60
People
People Employees 2 2 2 — 5 — 300 330 460 500
Revenue/emp, $m 0.00 7.57 38.38 0.00 82.04 0.00 4.04 3.81 3.22 3.53
Income, $m
Income, $m Revenue — 15 77 136 410 662 1,213 1,256 1,483 1,764
Gross margin, % — (9.61) 29.74 58.87 61.30 50.98 44.06 46.10 44.93 40.07
EBT 0 (12) (11) (1,263) (1,155) 3 253 154 267 577
EBT margin, % 0.00 (76.17) (13.99) (929.93) (281.54) 0.51 20.88 12.22 18.02 32.68
Net income 0 (19) 0 (1,328) (1,156) 1 251 386 244 526
Depreciation — 6 20 41 1,248 259 272 294 338 397
Per share, $
Per share, $ Revenue 0.00 2.43 4.43 18.13 58.60 88.37 29.15 24.24 25.01 28.48
Earnings 0.00 (2.98) (0.30) (177.22) 0.21 2.03 1.48 2.39 1.03 2.66
Cash flow 0.00 0.00 0.04 10.18 14.59 31.44 14.73 11.28 10.75 9.75
Capex 0.00 0.00 (4.85) (43.96) (28.44) (10.56) (5.32) (6.35) (4.65) (8.54)
Free cash flow 0.00 0.00 (4.81) (33.78) (13.85) 20.88 9.41 4.93 6.10 1.21
Book value 0.02 89.31 (12.34) (47.13) (35.34) 0.00 (20.17) (10.24) (50.21) (9.12)
Shares, m 1 6 17 7 7 7 42 52 59 62
Valuation, ×
Valuation, × P/E — 0.00 0.00 0.00 0.00 0.00 21.84 5.91 55.60 13.92
P/S — 0.00 17.44 1.58 1.20 0.45 1.10 1.39 2.27 1.27
P/B — 43.26 0.00 0.00 0.00 22,973.23 0.00 0.00 0.00 0.00
EV/Sales — 0.00 11.57 4.52 5.32 4.99 3.91 4.27 4.64 3.43
EV/FCF — 660.89 612.36 (2.43) (9.93) 16.17 12.10 21.01 19.02 81.07
Cash, $m
Cash, $m Operating cash flow 0 0 1 76 102 236 613 584 637 604
Capex — — (84) (329) (199) (79) (221) (329) (275) (529)
Free cash flow 0 0 (83) (253) (97) 156 392 255 362 75
Balance, $m
Balance, $m Working capital 0 (118) 370 (2) 13 (23) 14 7 (124) (138)
Total debt 0 — — 406 624 2,319 3,414 3,589 3,525 3,824
Net debt 0 — (450) 400 600 2,301 3,408 3,584 3,522 3,820
Shareholders’ equity 0 556 (214) (353) (247) 0 (840) (531) (2,977) (565)
Returns, %
Returns, % ROA 0.00 (5.26) (0.34) (21.35) 0.18 (0.52) 1.29 4.66 1.20 2.56
ROIC (9.93) (1.30) 0.00 (1,720.48) (180.96) 1.45 3.66 3.26 20.56 3.17
ROE 0.00 (6.68) (2.56) 126.50 (1.00) 11.27 (14.55) (42.24) (4.56) (10.07)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Kinetik Holdings Inc. vs peers in Oil & Gas Midstream (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VNOM Viper Energy Inc. $15.7B 322× 18.4× +127.95% (above 0%: growing) +160.71% (above 0%: growing) +146.15% (above 0%: growing) 100.00% 63.22% Compare
DTM DT Midstream, Inc. $12.1B 26.9× 29.8× +11.00% (above 0%: growing) +4.76% (above 0%: growing) +12.50% (above 0%: growing) 100.00% 50.44% Compare
FRO Frontline PLC $11.7B 7.9× 4.6× +112.25% (above 0%: growing) +745.71% (above 0%: growing) +155.42% (above 0%: growing) 74.15% 65.92% Compare
AM Antero Midstream Corporation $9.5B 24.6× 19.5× +7.13% (above 0%: growing) −7.69% (below 0%: shrinking) −11.79% (below 0%: shrinking) 74.17% 55.59% Compare
KNTK Kinetik Holdings Inc. $8.7B 19.8× 54.5× +36.25% (above 0%: growing) +96.97% (above 0%: growing) +775.96% (above 0%: growing) 46.77% 23.04%
SOBO South Bow Corporation $7.0B 15.7× 21.2× +4.20% (above 0%: growing) +39.13% (above 0%: growing) +48.75% (above 0%: growing) 55.68% 48.90% Compare
HESM Hess Midstream Partners LP $6.3B 10.6× 14.7× −3.67% (below 0%: shrinking) +1.35% (above 0%: growing) +19.67% (above 0%: growing) 100.00% 63.46% Compare
INSW International Seaways Inc. $5.6B 7.0× 5.0× +138.85% (above 0%: growing) +376.80% (above 0%: growing) +125.42% (above 0%: growing) 76.05% 64.49% Compare
CMBT CMB.TECH nv $5.2B 3.6× 5.4× +519.15% (above 0%: growing) n/m +451.20% (above 0%: growing) 71.02% 54.45% Compare
Median of peers $8.3B 13.1× 16.5× +61.63% +39.13% +87.09% 75.11% 59.41%

All 58 Oil & Gas Midstream stocks →

Kinetik Holdings Inc. (KNTK) key facts

  • Strength: Kinetik Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 19.0% from fiscal 2024.
  • Kinetik Holdings Inc. (KNTK) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, KNTK traded at $55.30, a market capitalization of $8.7 billion.
  • Kinetik Holdings Inc. pays an annual dividend of $3.21 per share, a yield of 5.80%, with a payout ratio of 116.3%.
  • Return on equity was −10.1% and debt-to-equity -3.34.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.32 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/KNTK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com