Kinder Morgan, Inc. (KMI) vs ONEOK, Inc. (OKE)

Kinder Morgan, Inc. and ONEOK, Inc. are both Oil & Gas Midstream companies. Kinder Morgan, Inc. is the larger, with a market value of $73.1B against $57.2B — 1.3× the size. ONEOK, Inc. trades at the lower P/E: 16.1× against 21.9×. ONEOK, Inc. grew revenue faster over the last twelve months: 40.8% against 12.5%. Kinder Morgan, Inc. has the higher net margin (19.3% vs 9.29%) and the lower return on invested capital (5.02% vs 7.02%). Both pay a dividend; ONEOK, Inc. yields more (4.54% vs 3.45%). Across the 23 metrics below, ONEOK, Inc. leads on 15 and Kinder Morgan, Inc. on 8.

Valuation

Metric KMI OKE Oil & Gas Midstream median
P/E 21.92 16.10 12.77
P/S 4.24 1.50 2.36
P/B 2.31 2.56 2.09
Price to free cash flow 28.66 20.28 9.71
EV/EBITDA 14.06 11.81 8.30
EV/Sales 6.03 2.29 3.88
Earnings yield 4.56% 6.21% 7.15%
Free cash flow yield 3.49% 4.93% 6.86%

Profitability

Metric KMI OKE Oil & Gas Midstream median
Gross margin 66.61% 27.21% 56.58%
Operating margin 29.05% 15.52% 34.18%
Net margin 19.31% 9.29% 22.50%
Free cash flow margin 14.78% 7.38% 13.70%
Return on equity 10.67% 16.27% 14.65%
Return on assets 4.74% 5.49% 5.00%
Return on invested capital 5.02% 7.02% 6.13%

Growth

Metric KMI OKE Oil & Gas Midstream median
Revenue growth (TTM) 12.46% 40.83% 15.60%
EPS growth (last fiscal year) 17.09% 4.84% (7.86%)
Revenue growth, 5-year CAGR 7.68% 31.53% 9.59%
Net income growth, 5-year CAGR 91.39% 40.87% 0.00%

Health

Metric KMI OKE Oil & Gas Midstream median
Debt to equity 0.98 1.37 0.78
Current ratio 0.46 0.74 1.19
Net debt to EBITDA 4.44 4.40 3.42

Dividend

Metric KMI OKE Oil & Gas Midstream median
Dividend yield 3.45% 4.54% 4.54%
Payout ratio 0.76 0.73 0.76

Size

Metric KMI OKE Oil & Gas Midstream median
Market cap 73.08b 57.15b 3.73b

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