PBA
Pembina Pipeline Corporation
Oil & Gas Midstream
Market Cap$26.12B
5Y Perf.+82.7%
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Stock Comparison
PBA vs KMI
Revenue, margins, valuation, and 5-year total return — side by side.
KMI
Kinder Morgan, Inc.
Oil & Gas Midstream
Market Cap$70.10B
5Y Perf.+98.8%
PBA vs KMI — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PBA | KMI |
|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $26.12B | $70.10B |
| Revenue (TTM) | $7.81B | $17.52B |
| Net Income (TTM) | $1.69B | $3.31B |
| Gross Margin | 39.5% | 46.9% |
| Operating Margin | 36.0% | 28.6% |
| Forward P/E | 15.3x | 21.9x |
| Total Debt | $13.31B | $32.39B |
| Cash & Equiv. | $106M | $109M |
PBA vs KMI — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PBA
KMI
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Pembina Pipeline Co… (PBA) | 100 | 182.7 | +82.7% |
| Kinder Morgan, Inc. (KMI) | 100 | 198.8 | +98.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PBA vs KMI
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: PBA leads in 6 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Kinder Morgan, Inc. is the stronger pick specifically for growth and revenue expansion. As sector peers, any of these can serve as alternatives in the same allocation.
PBA
Pembina Pipeline Corporation
The Income Pick
PBA carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 0.00, yield 5.0%
- Lower volatility, beta 0.00, Low D/E 79.4%, current ratio 0.61x
- Beta 0.00, yield 5.0%, current ratio 0.61x
Best for: income & stability and sleep-well-at-night
KMI
Kinder Morgan, Inc.
The Growth Play
KMI is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 12.5%, EPS growth 17.1%, 3Y rev CAGR -4.7%
- 142.1% 10Y total return vs PBA's 127.9%
- 12.5% revenue growth vs PBA's 5.3%
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | KMI | 12.5% revenue growth vs PBA's 5.3% |
| Value | PBA | Lower P/E (15.3x vs 21.9x) |
| Quality / Margins | PBA | 21.7% margin vs KMI's 18.9% |
| Stability / Safety | PBA | Beta 0.00 vs KMI's 0.10, lower leverage |
| Dividends | PBA | 5.0% yield, 2-year raise streak, vs KMI's 3.7% |
| Momentum (1Y) | PBA | +19.2% vs KMI's +18.3% |
| Efficiency (ROA) | PBA | 4.8% ROA vs KMI's 4.5%, ROIC 6.9% vs 5.6% |
PBA vs KMI — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
PBA vs KMI — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLPBALAGGINGKMI
KMIKinder Morgan, Inc.
1leads
PBAPembina Pipeline Corp…
3leads
6 Total Categories
CATEGORYLEADERvs KMIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
PBA4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
PBA7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
KMI4/6
Risk & VolatilityBeta, volatility, and downside exposure
PBA2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
Evenly matched — PBA and KMI each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
KMI is the larger business by revenue, generating $17.5B annually — 2.2x PBA's $7.8B. Profitability is closely matched — net margins range from 21.7% (PBA) to 18.9% (KMI). On growth, KMI holds the edge at +13.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| RevenueTrailing 12 months | $7.8B | $17.5B |
| EBITDAEarnings before interest/tax | $3.8B | $7.5B |
| Net IncomeAfter-tax profit | $1.7B | $3.3B |
| Free Cash FlowCash after capex | $2.3B | $3.9B |
| Gross MarginGross profit ÷ Revenue | +39.5% | +46.9% |
| Operating MarginEBIT ÷ Revenue | +36.0% | +28.6% |
| Net MarginNet income ÷ Revenue | +21.7% | +18.9% |
| FCF MarginFCF ÷ Revenue | +29.4% | +22.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -10.8% | +13.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -15.2% | +37.5% |
Evenly matched — PBA and KMI each lead in 3 of 6 comparable metrics.
Valuation Metrics
PBA leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 23.0x trailing earnings, KMI trades at a 0% valuation discount to PBA's 23.1x P/E. On an enterprise value basis, PBA's 12.9x EV/EBITDA is more attractive than KMI's 14.1x.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| Market CapShares × price | $26.1B | $70.1B |
| Enterprise ValueMkt cap + debt − cash | $35.8B | $102.4B |
| Trailing P/EPrice ÷ TTM EPS | 23.05x | 23.00x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.30x | 21.88x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.24x |
| EV / EBITDAEnterprise value multiple | 12.87x | 14.09x |
| Price / SalesMarket cap ÷ Revenue | 4.58x | 4.14x |
| Price / BookPrice ÷ Book value/share | 2.13x | 2.16x |
| Price / FCFMarket cap ÷ FCF | 14.32x | 21.76x |
PBA leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
PBA leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
KMI delivers a 10.3% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $10 for PBA. PBA carries lower financial leverage with a 0.79x debt-to-equity ratio, signaling a more conservative balance sheet compared to KMI's 1.00x. On the Piotroski fundamental quality scale (0–9), KMI scores 8/9 vs PBA's 5/9, reflecting strong financial health.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| ROE (TTM)Return on equity | +9.9% | +10.3% |
| ROA (TTM)Return on assets | +4.8% | +4.5% |
| ROICReturn on invested capital | +6.9% | +5.6% |
| ROCEReturn on capital employed | +8.4% | +7.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.79x | 1.00x |
| Net DebtTotal debt minus cash | $13.2B | $32.3B |
| Cash & Equiv.Liquid assets | $106M | $109M |
| Total DebtShort + long-term debt | $13.3B | $32.4B |
| Interest CoverageEBIT ÷ Interest expense | 4.76x | 2.86x |
PBA leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
KMI leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in KMI five years ago would be worth $20,841 today (with dividends reinvested), compared to $17,521 for PBA. Over the past 12 months, PBA leads with a +19.2% total return vs KMI's +18.3%. The 3-year compound annual growth rate (CAGR) favors KMI at 27.4% vs PBA's 16.3% — a key indicator of consistent wealth creation.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| YTD ReturnYear-to-date | +17.9% | +15.9% |
| 1-Year ReturnPast 12 months | +19.2% | +18.3% |
| 3-Year ReturnCumulative with dividends | +57.3% | +107.0% |
| 5-Year ReturnCumulative with dividends | +75.2% | +108.4% |
| 10-Year ReturnCumulative with dividends | +127.9% | +142.1% |
| CAGR (3Y)Annualised 3-year return | +16.3% | +27.4% |
KMI leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
PBA leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PBA is the less volatile stock with a 0.00 beta — it tends to amplify market swings less than KMI's 0.10 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PBA currently trades 96.2% from its 52-week high vs KMI's 90.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.03x | 0.07x |
| 52-Week HighHighest price in past year | $46.73 | $34.73 |
| 52-Week LowLowest price in past year | $35.45 | $25.60 |
| % of 52W HighCurrent price vs 52-week peak | +96.2% | +90.7% |
| RSI (14)Momentum oscillator 0–100 | 52.6 | 42.5 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 12.4M |
PBA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — PBA and KMI each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates PBA as "Buy" and KMI as "Hold". Consensus price targets imply 11.1% upside for KMI (target: $35) vs -13.8% for PBA (target: $39). For income investors, PBA offers the higher dividend yield at 4.97% vs KMI's 3.71%.
| Metric | PBAPembina Pipeline … | KMIKinder Morgan, In… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $38.76 | $35.00 |
| # AnalystsCovering analysts | 16 | 34 |
| Dividend YieldAnnual dividend ÷ price | +5.0% | +3.7% |
| Dividend StreakConsecutive years of raises | 2 | 9 |
| Dividend / ShareAnnual DPS | $3.04 | $1.17 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Evenly matched — PBA and KMI each lead in 1 of 2 comparable metrics.
Key Takeaway
PBA leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). KMI leads in 1 (Total Returns). 2 tied.
Best OverallPembina Pipeline Corporation (PBA)Leads 3 of 6 categories
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PBA vs KMI: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is PBA or KMI a better buy right now?
For growth investors, Kinder Morgan, Inc.
(KMI) is the stronger pick with 12. 5% revenue growth year-over-year, versus 5. 3% for Pembina Pipeline Corporation (PBA). Kinder Morgan, Inc. (KMI) offers the better valuation at 23. 0x trailing P/E (21. 9x forward), making it the more compelling value choice. Analysts rate Pembina Pipeline Corporation (PBA) a "Buy" — based on 16 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PBA or KMI?
On trailing P/E, Kinder Morgan, Inc.
(KMI) is the cheapest at 23. 0x versus Pembina Pipeline Corporation at 23. 1x. On forward P/E, Pembina Pipeline Corporation is actually cheaper at 15. 3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — PBA or KMI?
Over the past 5 years, Kinder Morgan, Inc.
(KMI) delivered a total return of +108. 4%, compared to +75. 2% for Pembina Pipeline Corporation (PBA). Over 10 years, the gap is even starker: KMI returned +141. 5% versus PBA's +130. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PBA or KMI?
By beta (market sensitivity over 5 years), Pembina Pipeline Corporation (PBA) is the lower-risk stock at -0.
03β versus Kinder Morgan, Inc. 's 0. 07β — meaning KMI is approximately -308% more volatile than PBA relative to the S&P 500. On balance sheet safety, Pembina Pipeline Corporation (PBA) carries a lower debt/equity ratio of 79% versus 100% for Kinder Morgan, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — PBA or KMI?
By revenue growth (latest reported year), Kinder Morgan, Inc.
(KMI) is pulling ahead at 12. 5% versus 5. 3% for Pembina Pipeline Corporation (PBA). On earnings-per-share growth, the picture is similar: Kinder Morgan, Inc. grew EPS 17. 1% year-over-year, compared to -11. 3% for Pembina Pipeline Corporation. Over a 3-year CAGR, KMI leads at -4. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PBA or KMI?
Pembina Pipeline Corporation (PBA) is the more profitable company, earning 21.
8% net margin versus 18. 0% for Kinder Morgan, Inc. — meaning it keeps 21. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PBA leads at 36. 1% versus 28. 4% for KMI. At the gross margin level — before operating expenses — KMI leads at 43. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PBA or KMI more undervalued right now?
On forward earnings alone, Pembina Pipeline Corporation (PBA) trades at 15.
3x forward P/E versus 21. 9x for Kinder Morgan, Inc. — 6. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KMI: 11. 1% to $35. 00.
08Which pays a better dividend — PBA or KMI?
All stocks in this comparison pay dividends.
Pembina Pipeline Corporation (PBA) offers the highest yield at 5. 0%, versus 3. 7% for Kinder Morgan, Inc. (KMI).
09Is PBA or KMI better for a retirement portfolio?
For long-horizon retirement investors, Pembina Pipeline Corporation (PBA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.
03), 5. 0% yield, +130. 7% 10Y return). Both have compounded well over 10 years (PBA: +130. 7%, KMI: +141. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PBA and KMI?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(PBA: -10.8% · KMI: 13.5%)Net Margin>
%
(PBA: 21.7% · KMI: 18.9%)P/E Ratio<
x
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