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 $73.1B against $57.9B — 1.3× the size. MPLX LP trades at the lower P/E: 12.5× against 21.9×. 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 (7.40% vs 3.45%). 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 21.92 12.51 12.77
P/S 4.24 4.47 2.36
P/B 2.31 4.14 2.09
Price to free cash flow 28.66 13.68 9.71
EV/EBITDA 14.06 11.41 8.30
EV/Sales 6.03 6.33 3.88
Earnings yield 4.56% 8.00% 7.15%
Free cash flow yield 3.49% 7.31% 6.86%

Profitability

Metric KMI MPLX Oil & Gas Midstream median
Gross margin 66.61% 59.69% 56.58%
Operating margin 29.05% 44.44% 34.18%
Net margin 19.31% 35.75% 22.50%
Free cash flow margin 14.78% 32.63% 13.70%
Return on equity 10.67% 33.41% 14.65%
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% 15.60%
EPS growth (last fiscal year) 17.09% 14.49% (7.86%)
Revenue growth, 5-year CAGR 7.68% 11.42% 9.59%
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 3.45% 7.40% 4.54%
Payout ratio 0.76 0.93 0.76

Size

Metric KMI MPLX Oil & Gas Midstream median
Market cap 73.08b 57.91b 3.73b

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