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Kinder Morgan KMI Natural Gas Pipelines — CapEx

Other segment segments

Terminals
$69M-10.4%
CO2
$68M-22.7%
Products Pipelines
$38M-34.5%

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Other financials

Income statement

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Revenue$4.5B+10.8%
Gross profit$3.1B+8.5%
Operating income$1.3B+16.8%
Net income$867.0M+21.3%
EPS (diluted)$0.39+21.9%

Balance sheet

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Cash & equivalents$89.0M+8.5%
Total debt$32.2B+1.2%
Total equity$31.6B+2.8%
Total assets$74.1B+2.3%

Cash flow

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Operating cash flow$2.0B+18.9%
CapEx$982.0M+51.8%
Free cash flow$978.0M-2.4%

Valuation

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Market cap$71.66B+14.0%
Enterprise value$103.82B+9.7%
P/E20.7×-2.4×
P/S4×+0.1×

Profitability

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Gross margin66.6%-2.4pp
Operating margin29%+1.4pp
Net margin19.3%+2.2pp
FCF margin17.6%+0.5pp

Returns & leverage

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Return on equity11.1%+2.2pp
Debt / equity1×0.0×
Current ratio0.5×-0.2×

Where this comes from

Reported directly by Kinder Morgan in its filing.

Tagged under the XBRL concept us-gaap:SegmentExpenditureAdditionToLongLivedAssets.

The source filing: Kinder Morgan’s 10-Q, filed July 24, 2026.

Filed
Jul 24, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001506307-26-000085
Line itemReportable Segments / Natural Gas PipelinesReportable Segments / Products PipelinesReportable Segments / TerminalsReportable Segments / CO2Corporate and EliminationsTotal
DD&A(620)
General and administrative and corporate charges(188)
Interest, net(d)(425)
Income tax expense(272)
Net income$894
Other segment activity information:
DD&A$305$85$130$94$6$620
Capital expenditures79738696810982

Item 1. Financial Statements (Unaudited)

FAQ

What is Kinder Morgan's natural gas pipelines — capex?
Kinder Morgan (KMI) reported natural gas pipelines — capex of $797M in Q2 2026.
How has Kinder Morgan's natural gas pipelines — capex changed year-over-year?
Kinder Morgan's natural gas pipelines — capex increased by 94.9% year-over-year, from $409M to $797M.
What is the long-term trend for Kinder Morgan's natural gas pipelines — capex?
Over 4 years (2021 to 2025), Kinder Morgan's natural gas pipelines — capex has grown at a 38.4% compound annual growth rate (CAGR), from $570M to $2.09B.
What does natural gas pipelines — capex mean?
This metric tracks the cash outflows used to acquire, maintain, or upgrade physical assets within the natural gas pipeline segment. It includes both growth capital for new pipeline projects and maintenance capital to ensure the safety and reliability of existing infrastructure. It is a key indicator of the company's long-term investment strategy and growth trajectory.

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