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Kinder Morgan KMI Natural Gas Pipelines — Revenues from customers

Other segment segments

Products Pipelines
$902M+30.5%
Terminals
$558M+4.7%
Co2
$387M+33.4%

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MDUNatural gas distribution — Revenues from contracts with customers
$462.35M-14.3%

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:Revenues.

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 itemNatural Gas PipelinesProducts PipelinesTerminalsCO2Corporate and EliminationsTotal
Total commodity sales1,08751728375(6)2,001
Total revenues from contracts with customers2,508852360387(9)4,098
Other revenues
Leasing services(b)1124319813366
Derivatives adjustments on commodity sales24(50)(26)
Other277539
Total other revenues16350198(32)379
Total revenues$2,671$902$558$355$(9)$4,477

Item 1. Financial Statements (Unaudited)

FAQ

What is Kinder Morgan's natural gas pipelines — revenues from customers?
Kinder Morgan (KMI) reported natural gas pipelines — revenues from customers of $2.67B in Q2 2026.
How has Kinder Morgan's natural gas pipelines — revenues from customers changed year-over-year?
Kinder Morgan's natural gas pipelines — revenues from customers increased by 5.3% year-over-year, from $2.54B to $2.67B.
What is the long-term trend for Kinder Morgan's natural gas pipelines — revenues from customers?
Over 4 years (2021 to 2025), Kinder Morgan's natural gas pipelines — revenues from customers has grown at a -2.2% compound annual growth rate (CAGR), from $12.01B to $11.01B.
What does natural gas pipelines — revenues from customers mean?
This represents the total revenue generated from contracts with customers within the natural gas pipeline business segment. It reflects the core income derived from transporting and handling natural gas volumes for third-party shippers and utility providers. This is a primary indicator of the segment's market demand and service utilization.

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