Kinder Morgan, Inc. (KMI) Financial Ratios
17 years of historical data (2009–2025) · Energy · Oil & Gas Midstream
EV/EBITDA
↑
14.11
↑+21% vs avg
5yr avg: 11.66
30Y Low9.3·High20.3
P/FCF
↑
21.81
↑+58% vs avg
5yr avg: 13.81
30Y Low8.1·High61.9
P/B Ratio
↑
2.17
↑+46% vs avg
5yr avg: 1.49
30Y Low0.9·High2.7
ROE
↑
9.5%
↓+23% vs avg
5yr avg: 7.7%
30Y Low-0%·High10%
Debt/EBITDA
↓
4.46
↓-7% vs avg
5yr avg: 4.78
30Y Low4.5·High8.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KMI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Kinder Morgan, Inc. trades at 23.1x earnings, 19% above its 5-year average of 19.3x, sitting at the 38th percentile of its historical range. Compared to the Energy sector median P/E of 16.9x, the stock trades at a premium of 37%. On a free-cash-flow basis, the stock trades at 21.8x P/FCF, 58% above the 5-year average of 13.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $70.3B | $61.2B | $60.8B | $39.4B | $40.8B | $35.9B | $30.9B | $47.9B | $34.1B | $40.3B | $46.2B |
| Enterprise Value | $102.5B | $93.4B | $93.0B | $71.9B | $72.3B | $68.7B | $64.3B | $81.9B | $67.9B | $77.5B | $85.5B |
| P/E Ratio → | 23.05 | 20.07 | 23.42 | 16.64 | 16.14 | 20.33 | 292.09 | 22.05 | 23.30 | 1807.00 | 82.84 |
| P/S Ratio | 4.15 | 3.61 | 4.04 | 2.60 | 2.09 | 2.05 | 2.69 | 3.64 | 2.39 | 2.96 | 3.57 |
| P/B Ratio | 2.17 | 1.88 | 1.91 | 1.24 | 1.27 | 1.13 | 0.95 | 1.37 | 0.97 | 1.15 | 1.33 |
| P/FCF | 21.81 | 18.99 | 20.24 | 9.51 | 12.20 | 8.12 | 10.88 | 19.34 | 16.08 | 28.52 | 24.24 |
| P/OCF | 11.25 | 9.79 | 10.79 | 6.07 | 8.22 | 6.30 | 6.80 | 10.09 | 6.76 | 8.76 | 9.65 |
P/E links to full P/E history page with 30-year chart
KMI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Kinder Morgan, Inc.'s enterprise value stands at 14.1x EBITDA, 21% above its 5-year average of 11.7x. The Energy sector median is 8.1x, placing the stock at a 73% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.51 | 6.17 | 4.75 | 3.70 | 3.92 | 5.60 | 6.23 | 4.76 | 5.69 | 6.61 |
| EV / EBITDA | 14.11 | 12.86 | 13.80 | 11.43 | 10.94 | 9.26 | 11.89 | 13.02 | 10.67 | 13.60 | 14.10 |
| EV / EBIT | 21.31 | 18.59 | 17.63 | 14.37 | 14.94 | 18.49 | 28.62 | 16.54 | 15.40 | 19.43 | 24.24 |
| EV / FCF | — | 29.01 | 30.92 | 17.35 | 21.62 | 15.52 | 22.63 | 33.06 | 32.05 | 54.88 | 44.91 |
KMI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Kinder Morgan, Inc. earns an operating margin of 28.4%, above the Energy sector average of 14.5%. Operating margins have expanded from 26.7% to 28.4% over the past 3 years, signaling improving operational efficiency. ROE of 9.5% is modest. ROIC of 5.6% represents adequate returns on invested capital versus a sector median of 6.4%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.7% | 43.7% | 36.7% | 33.9% | 28.1% | 36.3% | 37.3% | 37.2% | 35.1% | 33.2% | 38.2% |
| Operating Margin | 28.4% | 28.4% | 29.1% | 26.7% | 22.6% | 30.1% | 28.3% | 29.5% | 28.5% | 25.3% | 29.8% |
| Net Profit Margin | 18.0% | 18.0% | 17.3% | 15.8% | 13.0% | 10.2% | 1.0% | 16.6% | 11.3% | 1.3% | 5.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.5% | 9.5% | 8.2% | 7.5% | 8.0% | 5.5% | 0.4% | 6.2% | 4.6% | 0.5% | 2.0% |
| ROA | 4.2% | 4.2% | 3.7% | 3.4% | 3.6% | 2.5% | 0.2% | 2.9% | 2.0% | 0.2% | 0.9% |
| ROIC | 5.6% | 5.6% | 5.1% | 4.7% | 5.2% | 6.1% | 3.6% | 4.2% | 4.3% | 3.5% | 3.8% |
| ROCE | 7.0% | 7.0% | 6.7% | 6.4% | 6.8% | 7.9% | 4.8% | 5.5% | 5.6% | 4.7% | 5.0% |
KMI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Kinder Morgan, Inc. carries a Debt/EBITDA ratio of 4.5x, which is highly leveraged (85% above the sector average of 2.4x). Net debt stands at $32.3B ($32.4B total debt minus $109M cash). Interest coverage of just 2.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.00 | 1.00 | 1.01 | 1.03 | 1.01 | 1.06 | 1.06 | 0.98 | 1.05 | 1.07 | 1.15 |
| Debt / EBITDA | 4.46 | 4.46 | 4.80 | 5.18 | 4.89 | 4.57 | 6.39 | 5.43 | 5.83 | 6.58 | 6.60 |
| Net Debt / Equity | — | 0.99 | 1.01 | 1.03 | 0.98 | 1.03 | 1.03 | 0.97 | 0.96 | 1.06 | 1.13 |
| Net Debt / EBITDA | 4.44 | 4.44 | 4.77 | 5.17 | 4.77 | 4.42 | 6.17 | 5.40 | 5.32 | 6.53 | 6.49 |
| Debt / FCF | — | 10.02 | 10.69 | 7.85 | 9.42 | 7.40 | 11.75 | 13.72 | 15.97 | 26.36 | 20.66 |
| Interest Coverage | 2.79 | 2.79 | 2.83 | 2.77 | 3.21 | 2.48 | 1.42 | 2.77 | 2.32 | 2.18 | 1.87 |
KMI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.64x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.35x to 0.64x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.64 | 0.64 | 0.49 | 0.35 | 0.55 | 0.66 | 0.63 | 0.63 | 0.76 | 0.44 | 0.55 |
| Quick Ratio | 0.50 | 0.50 | 0.39 | 0.28 | 0.46 | 0.56 | 0.56 | 0.56 | 0.71 | 0.37 | 0.48 |
| Cash Ratio | 0.03 | 0.03 | 0.02 | 0.01 | 0.11 | 0.20 | 0.23 | 0.22 | 0.43 | 0.04 | 0.12 |
| Asset Turnover | — | 0.23 | 0.21 | 0.21 | 0.28 | 0.24 | 0.16 | 0.18 | 0.18 | 0.17 | 0.16 |
| Inventory Turnover | 16.64 | 16.64 | 17.20 | 19.09 | 22.16 | 19.87 | 20.68 | 22.27 | 24.06 | 21.44 | 22.40 |
| Days Sales Outstanding | — | 36.91 | 36.47 | 38.24 | 34.35 | 33.54 | 41.11 | 38.25 | 38.30 | 43.24 | 43.71 |
KMI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Kinder Morgan, Inc. returns 3.7% to shareholders annually primarily through dividends. The payout ratio of 85.2% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.7% | 4.3% | 4.2% | 6.4% | 6.1% | 6.8% | 7.6% | 4.5% | 4.7% | 2.8% | 2.4% |
| Payout Ratio | 85.2% | 85.2% | 97.9% | 105.8% | 98.3% | 136.9% | 1984.9% | 98.8% | 100.6% | 612.0% | 157.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.3% | 5.0% | 4.3% | 6.0% | 6.2% | 4.9% | 0.3% | 4.5% | 4.3% | 0.1% | 1.2% |
| FCF Yield | 4.6% | 5.3% | 4.9% | 10.5% | 8.2% | 12.3% | 9.2% | 5.2% | 6.2% | 3.5% | 4.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.3% | 0.9% | 0.0% | 0.2% | 0.0% | 0.8% | 0.6% | 0.0% |
| Total Shareholder Yield | 3.7% | 4.3% | 4.2% | 7.7% | 7.0% | 6.8% | 7.8% | 4.5% | 5.5% | 3.4% | 2.4% |
| Shares Outstanding | — | $2.2B | $2.2B | $2.2B | $2.3B | $2.3B | $2.3B | $2.3B | $2.2B | $2.2B | $2.2B |
Peer Comparison
Compare KMI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KMIYou | $70B | 23.1 | 14.1 | 21.8 | 43.7% | 28.4% | 9.5% | 5.6% | 4.5 |
 WMB | $90B | 34.5 | 17.7 | 89.8 | 42.9% | 36.8% | 17.5% | 7.7% | 4.4 |
 ET | $68B | 14.7 | 9.4 | 17.8 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 EPD | $81B | 14.1 | 12.1 | 27.4 | 13.6% | 13.1% | 19.3% | 8.3% | 3.7 |
 TRGP | $54B | 29.3 | 14.3 | 13.7 | 26.5% | 20.1% | 48.4% | 13.3% | 3.5 |
 OKE | $54B | 15.8 | 10.2 | 22.0 | 21.5% | 20.7% | 15.2% | 9.6% | 3.9 |
 PAA | $16B | 30.4 | 10.5 | 8.4 | 3.4% | 2.4% | 5.8% | 4.2% | 3.6 |
 MPLX | $57B | 11.5 | 13.2 | 13.8 | 45.2% | 40.3% | 34.4% | 9.9% | 4.3 |
 DT | $11B | 24.0 | 46.2 | 26.4 | 81.2% | 10.6% | 20.9% | 9.0% | 0.3 |
 XOM | $630B | 22.2 | 11.1 | 26.7 | 21.7% | 10.5% | 10.7% | 8.6% | 0.7 |
 CVX | $369B | 27.9 | 11.0 | 22.3 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
| Energy Median | — | 16.9 | 8.1 | 14.1 | 32.7% | 14.5% | 7.9% | 6.4% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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Start ComparisonKMI — Frequently Asked Questions
Quick answers to the most common questions about buying KMI stock.
What is Kinder Morgan, Inc.'s P/E ratio?
Kinder Morgan, Inc.'s current P/E ratio is 23.1x. The historical average is 40.4x. This places it at the 38th percentile of its historical range.
What is Kinder Morgan, Inc.'s EV/EBITDA?
Kinder Morgan, Inc.'s current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
What is Kinder Morgan, Inc.'s ROE?
Kinder Morgan, Inc.'s return on equity (ROE) is 9.5%. The historical average is 4.4%.
Is KMI stock overvalued?
Based on historical data, Kinder Morgan, Inc. is trading at a P/E of 23.1x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Kinder Morgan, Inc.'s dividend yield?
Kinder Morgan, Inc.'s current dividend yield is 3.71% with a payout ratio of 85.2%.
What are Kinder Morgan, Inc.'s profit margins?
Kinder Morgan, Inc. has 43.7% gross margin and 28.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Kinder Morgan, Inc. have?
Kinder Morgan, Inc.'s Debt/EBITDA ratio is 4.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.