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Kinder Morgan KMI Q4 2025 Annual earnings

Reported January 21, 2026 · After market close

Revenue$4.5BBeat by $188.5M
EPS$0.39Beat by $0.03
Revenue estimate$4.3B
EPS estimate$0.36

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$4.4B
EPS estimate$0.32

Financials

Q4 2025

Income statement

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Revenue$4.5B+13.1%
Gross profit$3.1B+11.4%
Operating income$1.4B+23.1%
Net income$996.0M+49.3%
EPS (diluted)$0.45+50.0%

Balance sheet

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Cash & equivalents$63.0M-28.4%
Total debt$32.2B+6.9%
Total equity$31.2B+2.1%
Total assets$72.7B+1.9%

Cash flow

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Operating cash flow$1.7B+12.1%
CapEx$820.0M+6.2%
Free cash flow$872.0M+18.2%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$61.16B+0.5%
Enterprise value$93.31B+2.6%
P/E20×-3.3×
P/S3.6×-0.4×

Profitability

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Gross margin67.4%-3.9pp
Operating margin27.9%-1.1pp
Net margin18%+0.7pp
FCF margin17.1%-2.8pp

Returns & leverage

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Return on equity9.9%+1.3pp
Debt / equity1×0.0×
Current ratio0.6×+0.1×

Segments

By product

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Service$2.0B+6.7%
Firm Services$1.4B+8.4%
Natural Gas Sales$1.1B+84.8%
Product Other Than Natural Gas$755.0M-18.3%
Feebasedservices$704.0M+8.8%

By segment

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Natural Gas Pipelines$3.0B+24.9%
Products Pipelines$655.0M-11.5%
Terminals$535.0M+3.1%
Co2$286.0M-1.0%

By geography

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US$4.2B+12.4%
MX$2.8M-74.4%

FAQ

When did Kinder Morgan report Q4 2025 earnings?
Kinder Morgan (KMI) reported Q4 2025 earnings on January 21, 2026 after market close.
What were Kinder Morgan's Q4 2025 revenue and EPS?
Kinder Morgan reported revenue of $4.5B and eps of $0.39 for Q4 2025.
Did Kinder Morgan beat estimates in Q4 2025?
Revenue beat the consensus estimate of $4.3B by $188.5M. EPS beat the consensus estimate of $0.36 by $0.03.
How did Kinder Morgan's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.6% from $4.0B a year earlier and eps grew 21.9% from $0.32.
Where can I find Kinder Morgan's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001506307-26-000002) and the 10-K periodic report (0001506307-26-000011) directly on SEC EDGAR. The filing index links above go to sec.gov.