0001506307-26-000011
SEC filingKinder Morgan, Inc. (KMI) reported strong FY 2025 financial results with revenues of $16.94B and net income attributable to KMI of $3.06B, or $1 per diluted share. Operating income reached $4.72B, driven by $16.94B revenues offsetting $12.21B in operating costs including $5.53B costs of sales, $3.06B operations and maintenance, and $2.45B depreciation. Earnings from equity investments added $896.0M, though offset by $1.80B net interest expense, yielding income before taxes of $3.99B after $832.0M tax expense. Balance sheet shows total assets of $72.75B, with $39.33B property, plant, and equipment net, $20.08B goodwill, and stockholders' equity of $32.45B. Long-term debt stands at $30.78B. Cash flow from operations was robust at $5.92B, supporting $3.03B capital expenditures and $2.60B dividends, with net cash used in investing at -$3.18B and financing at -$2.84B. Ending cash and equivalents were $63.0M. These results highlight operational strength in energy infrastructure, funding growth and shareholder returns without share repurchases.
Kinder Morgan, Inc. delivered solid FY 2025 results ending December 31, 2025, with revenues of $16.94B and operating income of $4.72B. Total operating costs were $12.21B, comprising $5.53B costs of sales, $3.06B operations and maintenance, $2.45B depreciation, depletion, and amortization, $744.0M general and administrative, and $445.0M taxes other than income taxes. Other income included $896.0M earnings from equity investments and $173.0M other net, offset by $1.80B interest expense, resulting in total other expense of -$732.0M. Income before taxes was $3.99B, with $832.0M income tax expense yielding net income of $3.16B, of which $3.06B attributable to KMI at $1 basic and diluted EPS on 2.22B weighted average shares. Total assets stood at $72.75B, liabilities at $40.30B, and equity at $32.45B. No prior year comparisons disclosed.
Revenues totaled $16.94B for FY 2025. No segment breakdown, product/service details, or geographic mix provided in the filing. Costs of sales exclusive of items shown separately were $5.53B. No specific growth drivers or YoY changes detailed in the extracted data.
Operating margin calculated as operating income of $4.72B on $16.94B revenues. No gross profit explicitly stated, as costs of sales at $5.53B exclude other operating expenses. Key costs included $3.06B operations and maintenance, $2.45B depreciation, $744.0M G&A. Net income margin reflects $3.16B on $16.94B revenues. No prior period margin trends or cost structure changes disclosed.
Net cash provided by operating activities was $5.92B, adjusted from $3.16B net income by $2.45B depreciation, $780.0M deferred taxes, and working capital changes including $192.0M accounts receivable improvement. Investing used $3.18B, driven by $3.03B capital expenditures and $648.0M acquisitions, offset by $382.0M sale proceeds. Financing used $2.84B, including $10.02B debt issuances, $10.05B payments, $2.60B dividends, and $153.0M noncontrolling distributions. Cash and equivalents ended at $63.0M, restricted deposits $46.0M. Total debt $31.99B (current $1.23B + long-term $30.78B), current ratio supported by $2.75B current assets vs $4.32B liabilities.
No management guidance, strategic priorities, or specific risk factors detailed in the provided filing excerpt. References to Notes 3, 8, 10, 12, 16, 17 indicate commitments, contingencies, and transactions, but no forward-looking statements extracted.