Kinder Morgan, Inc. (KMI) vs MPLX LP (MPLX)

Kinder Morgan, Inc. and MPLX LP are both Oil & Gas Midstream companies. Kinder Morgan, Inc. is the larger, with a market value of $69.5B against $58.8B — 1.2× the size. MPLX LP trades at the lower P/E: 12.2× against 19.7×. Kinder Morgan, Inc. grew revenue faster over the last twelve months: 12.5% against 8.71%. MPLX LP has the higher net margin (35.8% vs 19.3%) and the higher return on invested capital (9.45% vs 5.02%). Both pay a dividend; MPLX LP yields more (9.32% vs 6.93%). Across the 23 metrics below, MPLX LP leads on 15 and Kinder Morgan, Inc. on 8.

Valuation

Metric KMI MPLX Oil & Gas Midstream median
P/E 19.71 12.22 13.19
P/S 3.81 4.36 2.60
P/B 2.08 4.05 2.08
Price to free cash flow 25.77 13.36 10.14
EV/EBITDA 13.06 11.22 8.11
EV/Sales 5.60 6.22 3.89
Earnings yield 5.07% 8.19% 6.83%
Free cash flow yield 3.88% 7.48% 6.94%

Profitability

Metric KMI MPLX Oil & Gas Midstream median
Gross margin 66.61% 59.69% 58.81%
Operating margin 29.05% 44.44% 32.14%
Net margin 19.31% 35.75% 21.16%
Free cash flow margin 14.78% 32.63% 10.15%
Return on equity 10.67% 33.41% 11.30%
Return on assets 4.74% 11.70% 5.00%
Return on invested capital 5.02% 9.45% 6.13%

Growth

Metric KMI MPLX Oil & Gas Midstream median
Revenue growth (TTM) 12.46% 8.71% 15.44%
EPS growth (last fiscal year) 17.09% 14.49% —
Revenue growth, 5-year CAGR 7.68% 11.42% 8.96%
Net income growth, 5-year CAGR 91.39% 0.00% 0.00%

Health

Metric KMI MPLX Oil & Gas Midstream median
Debt to equity 0.98 1.80 0.78
Current ratio 0.46 0.89 1.19
Net debt to EBITDA 4.44 3.21 3.42

Dividend

Metric KMI MPLX Oil & Gas Midstream median
Dividend yield 6.93% 9.32% 7.29%
Payout ratio 1.00 — 0.64

Size

Metric KMI MPLX Oil & Gas Midstream median
Market cap 69.52b 58.78b 3.61b

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