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Kinder Morgan KMI Service — Revenues from contracts with customers

Other product segments

Oil And Gas Service
$2.36B—
Total Services Revenue
$2.17B+7.8%
Firm Services
$1.46B+8.8%
Natural Gas Sales
$1.45B+46.3%
Product Other Than Natural Gas
$786M-4.1%
Feebasedservices
$707M+5.8%
Other sales
$44M+15.8%

Similar metrics at other companies

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PAAServices revenues — Total revenues
$38M+5.6%
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WESService Revenues - Fee Based — Total revenues and other
$933.3M+13.4%
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WESService Product Based — Revenue
$88.77M+49.8%
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WESService Revenues - Product Based — Total revenues and other
$88.77M+49.8%
MPLX logo
MPLXService — Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties
$1.09B+2.3%
MPLX logo
MPLXService — Revenue from Contract with Customer, Excluding Assessed Tax - Third parties
$711M+0.6%

Other financials

Income statement

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Revenue$4.8B+13.8%
Gross profit$3.1B+11.4%
Operating income$1.4B+26.1%
Net income$976.0M+36.1%
EPS (diluted)$0.44+37.5%

Balance sheet

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Cash & equivalents$72.0M-10.0%
Total debt$29.9B-0.3%
Total equity$31.3B+2.3%
Total assets$73.1B+1.0%

Cash flow

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Operating cash flow$1.5B+28.3%
CapEx$804.0M+5.0%
Free cash flow$687.0M+73.5%

Valuation

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Market cap$70.28B+17.7%
Enterprise value$100.08B+11.9%
P/E21.2×-1.9×
P/S4×+0.2×

Profitability

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Gross margin66.9%-2.7pp
Operating margin28.7%+0.9pp
Net margin18.9%+2.2pp

Returns & leverage

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Return on equity10.7%+2.2pp
Debt / equity1×0.0×
Current ratio0.5×+0.1×

Where this comes from

Reported directly by Kinder Morgan in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Kinder Morgan’s 10-K, filed February 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Kinder Morgan's service — revenues from contracts with customers?
Kinder Morgan (KMI) reported service — revenues from contracts with customers of $2.02B in Q4 2025.
How has Kinder Morgan's service — revenues from contracts with customers changed year-over-year?
Kinder Morgan's service — revenues from contracts with customers increased by 6.7% year-over-year, from $1.89B to $2.02B.
What is the long-term trend for Kinder Morgan's service — revenues from contracts with customers?
Over 4 years (2021 to 2025), Kinder Morgan's service — revenues from contracts with customers has grown at a 5.4% compound annual growth rate (CAGR), from $6.53B to $8.06B.
What does service — revenues from contracts with customers mean?
The total income earned from providing energy transportation and storage services to customers under contract.
How do you interpret service — revenues from contracts with customers?
An increase suggests higher utilization of pipeline and terminal infrastructure or successful contract renewals at favorable rates, while a decrease may indicate lower throughput volumes or contract expirations.
How does service — revenues from contracts with customers compare across companies?
Comparable to 'Service Revenue' or 'Midstream Fee-Based Revenue' reported by other energy infrastructure companies and pipeline operators.