Kinder Morgan, Inc. (KMI) vs TC Energy Corporation (TRP)

Kinder Morgan, Inc. and TC Energy Corporation are both Oil & Gas Midstream companies. Kinder Morgan, Inc. is the larger, with a market value of $69.5B against $59.7B — 1.2× the size. Kinder Morgan, Inc. trades at the lower P/E: 19.7× against 24.4×. TC Energy Corporation grew revenue faster over the last twelve months: 24.0% against 12.5%. TC Energy Corporation has the higher net margin (22.2% vs 19.3%) and the higher return on invested capital (5.39% vs 5.02%). Both pay a dividend; TC Energy Corporation yields more (7.37% vs 6.93%). Across the 23 metrics below, Kinder Morgan, Inc. leads on 12 and TC Energy Corporation on 11.

Valuation

Metric KMI TRP Oil & Gas Midstream median
P/E 19.71 24.39 13.19
P/S 3.81 5.40 2.60
P/B 2.08 2.41 2.08
Price to free cash flow 25.77 20.92 10.14
EV/EBITDA 13.06 12.86 8.11
EV/Sales 5.60 9.27 3.89
Earnings yield 5.07% 4.10% 6.83%
Free cash flow yield 3.88% 4.78% 6.94%

Profitability

Metric KMI TRP Oil & Gas Midstream median
Gross margin 66.61% 70.44% 58.81%
Operating margin 29.05% 53.94% 32.14%
Net margin 19.31% 22.19% 21.16%
Free cash flow margin 14.78% 25.80% 10.15%
Return on equity 10.67% 9.94% 11.30%
Return on assets 4.74% 2.89% 5.00%
Return on invested capital 5.02% 5.39% 6.13%

Growth

Metric KMI TRP Oil & Gas Midstream median
Revenue growth (TTM) 12.46% 24.04% 15.44%
EPS growth (last fiscal year) 17.09% (27.55%) —
Revenue growth, 5-year CAGR 7.68% 2.36% 8.96%
Net income growth, 5-year CAGR 91.39% (6.06%) 0.00%

Health

Metric KMI TRP Oil & Gas Midstream median
Debt to equity 0.98 1.68 0.78
Current ratio 0.46 0.61 1.19
Net debt to EBITDA 4.44 5.43 3.42

Dividend

Metric KMI TRP Oil & Gas Midstream median
Dividend yield 6.93% 7.37% 7.29%
Payout ratio 1.00 4.07 0.64

Size

Metric KMI TRP Oil & Gas Midstream median
Market cap 69.52b 59.65b 3.61b

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