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 $73.1B against $62.2B — 1.2× the size. Kinder Morgan, Inc. trades at the lower P/E: 21.9× against 25.6×. 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 (4.05% vs 3.45%). 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 21.92 25.62 12.77
P/S 4.24 5.67 2.36
P/B 2.31 2.53 2.09
Price to free cash flow 28.66 21.97 9.71
EV/EBITDA 14.06 13.23 8.30
EV/Sales 6.03 9.54 3.88
Earnings yield 4.56% 3.90% 7.15%
Free cash flow yield 3.49% 4.55% 6.86%

Profitability

Metric KMI TRP Oil & Gas Midstream median
Gross margin 66.61% 70.44% 56.58%
Operating margin 29.05% 53.94% 34.18%
Net margin 19.31% 22.19% 22.50%
Free cash flow margin 14.78% 25.80% 13.70%
Return on equity 10.67% 9.94% 14.65%
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% 15.60%
EPS growth (last fiscal year) 17.09% (27.55%) (7.86%)
Revenue growth, 5-year CAGR 7.68% 2.36% 9.59%
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 3.45% 4.05% 4.54%
Payout ratio 0.76 1.04 0.76

Size

Metric KMI TRP Oil & Gas Midstream median
Market cap 73.08b 62.17b 3.73b

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