Kinder Morgan, Inc. (KMI) Income Statement
KMI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKMI revenue and net income
Where KMI's revenue goes
2025Each bar shows an amount and its share of revenue. KMI kept 18.0% of revenue as net income.
KMI profit margins
KMI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.5% | −4.1% | +7.7% | +1.6% |
| Gross profit | +33.9% | −1.6% | +1.1% | −0.7% |
| Operating income | +9.8% | +38.4% | +8.1% | +6.3% |
| Net income | +17.0% | +5.2% | +76.2% | +24.7% |
| EPS (diluted) | +12.1% | +3.9% | +7.9% | +5.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KMI quarterly EPS vs estimates
Kinder Morgan beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.33).
KMI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.95B | $15.07B | $15.33B | $19.20B | $16.61B | $11.70B | $13.21B | $14.14B | $13.71B | $13.06B |
| Cost of revenue | $9.55B | $9.54B | $7.19B | $11.44B | $8.63B | $4.71B | $5.67B | $6.72B | $6.61B | $5.71B |
| Gross profit | $7.40B | $5.53B | $8.15B | $7.76B | $7.98B | $6.99B | $7.54B | $7.43B | $7.10B | $7.35B |
| Sales, general & admin | $936.0M | $712.0M | $668.0M | $637.0M | $655.0M | $648.0M | $590.0M | $601.0M | $673.0M | $703.0M |
| Total operating expenses | $2.59B | $1.15B | $3.90B | $3.73B | $3.44B | $3.50B | $3.60B | $3.46B | $3.54B | $3.39B |
| Operating income | $4.81B | $4.38B | $4.26B | $1.81B | $4.03B | $3.26B | $1.61B | $3.79B | $3.54B | $3.57B |
| Interest income | $905.0M | $1.02B | $7.0M | $5.0M | $4.0M | $8.0M | $3.0M | $1.03B | $1.25B | $1.31B |
| Interest expense | $1.80B | $1.87B | $1.80B | $1.51B | $1.50B | $1.59B | $1.79B | $1.92B | $1.83B | $1.81B |
| Income before taxes | $3.99B | $3.41B | $3.20B | $3.33B | $2.22B | $661.0M | $3.17B | $2.51B | $2.16B | $1.64B |
| Income taxes | $832.0M | $687.0M | $715.0M | $710.0M | $369.0M | $481.0M | $926.0M | $587.0M | $1.94B | $917.0M |
| Net income | $3.06B | $2.61B | $2.49B | $2.62B | $1.85B | $180.0M | $2.19B | $1.61B | $183.0M | $708.0M |
| EBITDA | $7.48B | $7.63B | $6.51B | $4.00B | $6.16B | $5.42B | $4.02B | $6.09B | $5.80B | $5.78B |
| EPS (diluted) | $1.30 | $1.16 | $1.07 | $1.16 | $1.32 | $0.89 | $0.95 | $0.89 | $0.67 | $0.66 |
| Gross margin | 43.7% | 36.7% | 53.1% | 40.4% | 48.1% | 59.8% | 57.0% | 52.5% | 51.8% | 56.3% |
| Operating margin | 28.4% | 29.1% | 27.8% | 9.5% | 24.3% | 27.9% | 12.2% | 26.8% | 25.9% | 27.4% |
| Net margin | 18.0% | 17.3% | 16.2% | 13.7% | 11.1% | 1.5% | 16.6% | 11.4% | 1.3% | 5.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.48B | $4.83B | $4.51B | $4.15B | $4.04B | $4.25B | $3.97B | $3.68B | $3.60B | $3.83B | $3.97B | $3.91B |
| Cost of revenue | $1.41B | $2.46B | $1.45B | $2.79B | $2.60B | $2.71B | $2.53B | $2.39B | $2.27B | $2.35B | $2.62B | $2.67B |
| Gross profit | $3.07B | $2.37B | $3.06B | $1.36B | $1.44B | $1.54B | $1.43B | $1.29B | $1.32B | $1.48B | $1.34B | $1.24B |
| Sales, general & admin | $192.0M | $298.0M | $186.0M | $375.0M | $188.0M | $187.0M | $182.0M | $176.0M | $179.0M | $175.0M | $171.0M | $162.0M |
| Total operating expenses | $1.73B | $924.0M | $1.70B | $294.0M | $299.0M | $299.0M | $288.0M | $283.0M | $288.0M | $286.0M | $273.0M | $268.0M |
| Operating income | $1.35B | $1.44B | $1.36B | $1.06B | $1.14B | $1.24B | $1.15B | $1.01B | $1.04B | $1.19B | $1.07B | $971.0M |
| Interest income | — | — | $193.0M | $235.0M | $246.0M | $231.0M | $213.0M | — | — | — | — | $223.0M |
| Interest expense | $425.0M | $430.0M | $442.0M | $456.0M | $452.0M | $450.0M | $442.0M | $461.0M | $465.0M | $475.0M | $449.0M | $454.0M |
| Income before taxes | $1.17B | $1.29B | $1.30B | $839.0M | $919.0M | $929.0M | $891.0M | $764.0M | $770.0M | $982.0M | $824.0M | $700.0M |
| Income taxes | $272.0M | $287.0M | $284.0M | $185.0M | $177.0M | $186.0M | $197.0M | $113.0M | $168.0M | $209.0M | $206.0M | $145.0M |
| Net income | $867.0M | $976.0M | $996.0M | $628.0M | $715.0M | $717.0M | $667.0M | $625.0M | $575.0M | $746.0M | $594.0M | $532.0M |
| EBITDA | $2.21B | $2.35B | $1.60B | $1.90B | $1.99B | $1.99B | $1.93B | $1.81B | $1.82B | $2.04B | $1.84B | $1.72B |
| EPS (diluted) | $0.37 | $0.48 | $0.39 | $0.29 | $0.28 | $0.34 | $0.32 | $0.25 | $0.25 | $0.34 | $0.28 | $0.25 |
| Gross margin | 68.6% | 49.0% | 67.9% | 32.7% | 35.7% | 36.2% | 36.1% | 35.1% | 36.8% | 38.6% | 33.9% | 31.7% |
| Operating margin | 30.1% | 29.9% | 30.3% | 25.6% | 28.3% | 29.2% | 28.9% | 27.4% | 28.8% | 31.2% | 27.0% | 24.8% |
| Net margin | 19.4% | 20.2% | 22.1% | 15.1% | 17.7% | 16.9% | 16.8% | 17.0% | 16.0% | 19.5% | 15.0% | 13.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KMI's financial statements (latest annual report filed February 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KMI financial results
In fiscal year 2025 (ended December 31, 2025), Kinder Morgan reported revenue of $16.9 billion, up 12.5% from the year before. It had net income of $3.1 billion (up 17.0%), a net profit margin of 18.0%. Diluted earnings per share came to $1.30. Over five years revenue grew at an average rate of 7.7% a year.
See the KMI stock overview for the latest quote and news, or the KMI chart for price history and technical indicators.
KMI income statement FAQ
What is Kinder Morgan's annual revenue?
Kinder Morgan reported total revenue of $16.9 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.5% from $15.1 billion the previous year.
Is Kinder Morgan profitable?
Yes. Kinder Morgan reported net income of $3.1 billion in fiscal 2025, a net profit margin of 18.0%; its operating margin was 28.4%.
What is Kinder Morgan's gross margin?
Kinder Morgan's gross margin was 43.7% in fiscal 2025: for every $100 of revenue, Kinder Morgan kept $44 after the direct cost of its products and services.
How fast is Kinder Morgan growing?
Revenue grew 7.7% a year on average over the last five fiscal years, from $11.7 billion to $16.9 billion.
What are Kinder Morgan's earnings per share?
Kinder Morgan earned $1.30 per diluted share in fiscal 2025, compared with $1.16 a year earlier.
When will Kinder Morgan report its next earnings?
Kinder Morgan is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does Kinder Morgan's fiscal year end?
Kinder Morgan's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 13, 2026.