Kinder Morgan
KMI · Oil & Gas Storage & Transportation
$34.43
2.1%Kinetik
KNTK · Oil & Gas Storage & Transportation
$55.70
1.9%The short version
- Kinder Morgan is the larger business, with $16.9B of revenue in fiscal 2025 against $1.8B for Kinetik, about 9.6 times as much.
- Kinetik grew revenue faster (19.0%, against 12.2%).
- Kinder Morgan kept more of each dollar of sales as operating profit (27.9% operating margin, against 9.4% operating margin).
- Kinder Morgan turned more of its sales into free cash flow (17.1% FCF margin, against 6.3% FCF margin).
- Kinetik earned a higher return on the capital invested in it (8.6%, against 5.8%).
- Investors pay more for each dollar of Kinder Morgan’s earnings: a P/E of 21.3x against 19.8x for Kinetik.
| Latest fiscal year | KMI · FY25 | KNTK · FY25 |
|---|---|---|
| Size | ||
| Market cap | $76.7B | $4.2B |
| Revenue | $16.9B | $1.8B |
| Free cash flow | $2.9B | $112M |
| Net income | $3.1B | $178M |
| Growth | ||
| Revenue growth | 12.2% | 19.0% |
| 5-year growth | 7.7% | 64.1% |
| Share count change | 0.1% | 4.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 27.9% | 9.4% |
| Net margin | 18.0% | 10.1% |
| FCF margin | 17.1% | 6.3% |
| Return on capital | 5.8% | 8.6% |
| Return on equity | 9.9% | — |
| Balance sheet | ||
| Net debt | $31.9B | $3.6B |
| Net debt / EBITDA | 4.5x | 6.7x |
| Dividends and buybacks | $2.6B | $370M |
| Valuation & quality | ||
| P/E | 21.3x | 19.8x |
| Piotroski F-score | 7 | 5 |
FY16
KMI $13.1B
KNTK —
FY17
KMI $13.7B
KNTK $15.1M
FY18
KMI $14.1B
KNTK $76.8M
FY19
KMI $13.2B
KNTK $136M
FY20
KMI $11.7B
KNTK $148M
FY21
KMI $16.6B
KNTK $161M
FY22
KMI $19.2B
KNTK $1.2B
FY23
KMI $15.3B
KNTK $1.3B
FY24
KMI $15.1B
KNTK $1.5B
FY25
KMI $16.9B
KNTK $1.8B
KMI
KNTK
FY16
KMI 27.1%
KNTK —
FY17
KMI 25.8%
KNTK −76.2%
FY18
KMI 26.8%
KNTK −16.0%
FY19
KMI 36.9%
KNTK −946.8%
FY20
KMI 13.3%
KNTK −687.6%
FY21
KMI 17.6%
KNTK 33.3%
FY22
KMI 21.2%
KNTK 12.4%
FY23
KMI 27.8%
KNTK 12.7%
FY24
KMI 29.0%
KNTK 12.1%
FY25
KMI 27.9%
KNTK 9.4%
KMI
KNTK
FY16
KMI $1.9B
KNTK —
FY17
KMI $1.4B
KNTK $0.0M
FY18
KMI $2.1B
KNTK −$83.3M
FY19
KMI $2.5B
KNTK −$266M
FY20
KMI $2.8B
KNTK −$79.3M
FY21
KMI $4.4B
KNTK $158M
FY22
KMI $3.3B
KNTK $407M
FY23
KMI $4.2B
KNTK $272M
FY24
KMI $3.0B
KNTK $374M
FY25
KMI $2.9B
KNTK $112M
KMI
KNTK
FY16
KMI 2.3%
KNTK —
FY17
KMI 2.4%
KNTK —
FY18
KMI 4.1%
KNTK —
FY19
KMI 5.1%
KNTK —
FY20
KMI 1.2%
KNTK −161.3%
FY21
KMI 3.8%
KNTK 1.8%
FY22
KMI 5.0%
KNTK 6.1%
FY23
KMI 5.2%
KNTK 5.7%
FY24
KMI 5.5%
KNTK 9.4%
FY25
KMI 5.8%
KNTK 8.6%
KMI
KNTK
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.