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Kinder Morgan KMI Natural Gas Pipelines — Earnings from equity investments

Other segment segments

Products Pipelines
$18M+20.0%
CO2
$10M+150%
Terminals
$4M+100%

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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/S+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 / equity0.0×
Current ratio0.5×-0.2×

Where this comes from

Reported directly by Kinder Morgan in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromEquityMethodInvestments.

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
Fuel and power(25)(21)(5)(33)
Field - non-labor(a)(258)(49)(141)(64)
Taxes, other than income taxes(78)(10)(15)(15)
Earnings (loss) from equity investments19318410
Other segment items(b)11111
Total Segment EBDA(c)$1,520$343$310$2262,399
DD&A(620)
General and administrative and corporate charges(188)

Item 1. Financial Statements (Unaudited)

FAQ

What is Kinder Morgan's natural gas pipelines — earnings from equity investments?
Kinder Morgan (KMI) reported natural gas pipelines — earnings from equity investments of $193M in Q2 2026.
How has Kinder Morgan's natural gas pipelines — earnings from equity investments changed year-over-year?
Kinder Morgan's natural gas pipelines — earnings from equity investments increased by 4.3% year-over-year, from $185M to $193M.
What is the long-term trend for Kinder Morgan's natural gas pipelines — earnings from equity investments?
Over 3 years (2022 to 2025), Kinder Morgan's natural gas pipelines — earnings from equity investments has grown at a 6.2% compound annual growth rate (CAGR), from $683M to $817M.
What does natural gas pipelines — earnings from equity investments mean?
This metric represents the portion of net income derived from unconsolidated entities or joint ventures within the natural gas pipeline segment. It reflects the company's proportional share of profits from strategic partnerships that operate pipeline infrastructure. This is a key indicator of the profitability of non-wholly owned assets in the midstream energy portfolio.

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