Aureus
AExcellent

Kinder Morgan, Inc.(KMI)

A

Financial data as of Dec 31, 2025Improving · Energy

FCF Margin17.1%Free Cash Flow / Revenue
Cash Conversion193.6%Operating CF / Net Income
Free Cash Flow$2.9B
Revenue$16.9B
Net Cash-$31.7BNet debt position
Debt / FCF11.0xElevated debt burden
Current Ratio0.64Tight short-term liquidity
YoY FCF Growth+73.5%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (11.0x; 7.3x sector-adjusted)
→
+0.5Healthy FCF margin with manageable debt (17.1%, 11.0x; 7.3x sector-adjusted)
→
-1Current ratio below 1.0 (0.64)
→
+1Strong YoY FCF growth (73.5% YoY)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Strong FCF margin (17.1%)
  • Excellent cash conversion (194%)
  • Strong YoY FCF growth (+73.5%)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($31.7B net debt, 11.0x FCF)
  • High debt-to-FCF ratio (11.0x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin17.1%
Net Margin18.0%
Operating CF Margin34.9%
CapEx Ratio17.9%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$31.7BNet debt position
Debt / FCF11.0xElevated debt burden
Current Ratio0.64Tight liquidity
Debt / Equity1.02Moderate leverage

Quarterly FCF Trend

+73.5% YoYImproving (+73.5%)

Free cash flow per quarter

Sector Comparison — Energy

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameKinder Morgan, Inc.
SectorEnergy
Free Cash Flow$2.9B
Revenue$16.9B
Net Income$3.1B
Operating Cash Flow$5.9B
Capital Expenditure$3.0B
FCF Margin17.1%
Cash Conversion Rate193.6%
Net Margin18.0%
Total Debt$31.8B
Total Cash$63.0M
Net Cash-$31.7B
Current Ratio0.64
Debt / Equity1.02
Debt / FCF11.0x
YoY FCF Growth+73.5%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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