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Screener / SEC EDGAR /CIK 0001506307 /10-K filed Feb 13, 2026, compared with Feb 13, 2025 /Numbers from the XBRL of the 10-Ks
Energy peers:
FANGEXEKMIDVNTRGPWMB
NYSE Energy · Pipelines

Kinder Morgan KMI

KMI quote by TradingView
Headquarters
Houston, TX
CEO
Kimberly A. Dang
Next results
around Jan 20, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2022

Revenue of $19.2B through the costs to a net profit of $2.5B · income statement of the 10-K

21% operating margin
Revenue to Gross profit: $9.9BRevenue to Cost of revenue: $9.3BGross profit to Operating profit: $4.1BGross profit to Operating expenses: $5.9BOperating profit to Net profit: $2.5BOperating profit to Tax & other: $1.5B Revenue: $19.2B REVENUE $19.2B +16% Y/Y Gross profit: $9.9B · 52% margin GROSS PROFIT $9.9B 52% margin Cost of revenue: $9.3B · 48% of revenue COST OF REVENUE $9.3B 48% of revenue Operating profit: $4.1B · 21% margin OPERATING PROFIT $4.1B 21% margin · +39% Y/Y Operating expenses: $5.9B · 31% of revenue OPERATING EXPENSES $5.9B 31% of revenue Net profit: $2.5B · 13% margin NET PROFIT $2.5B 13% margin · +43% Y/Y Tax & other: $1.5B · 8% of revenue TAX & OTHER $1.5B 8% of revenue
Gross profit $9.9B 52% margin
Operating profit $4.1B 21% margin · +39% Y/Y
Net profit $2.5B 13% margin · +43% Y/Y
The full income statement, year by year

KMI among Energy peers

Six ratios from the latest 10-K. Each corner is the share of 20 peers the company is above, not a score.

Compare
Revenue growth: 12.2%, above 70% of 20 peers (their median -1.0%) REVENUE GROWTH 12.2% · above 70% Operating margin: 29.0%, above 58% of 12 peers (their median 24.1%) OPERATING MARGIN 29.0% · above 58% Net margin: 19.6%, above 65% of 20 peers (their median 12.5%) NET MARGIN 19.6% · above 65% FCF margin: 16.8%, above 69% of 13 peers (their median 11.9%) FCF MARGIN 16.8% · above 69% Return on capital: 5.8%, above 8% of 12 peers (their median 8.8%) RETURN ON CAPITAL 5.8% · above 8%
KMI Peer median Below the median

What changed

13 new risk paragraphs. 10-K filed Feb 13, 2026 against Feb 13, 2025.

Risk factors
13 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
9 other checks clear
10-K · XBRL
Insiders
1 open-market buy in the last 90 days
Form 4
Filings
4 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

9 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 9 checks found nothing to note

  • Cash from operations $5.9B vs net income $3.1B (FY ending Dec 31, 2025)
  • Inventory +3.4% vs revenue +12.2% (-8.7 pts)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
6 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

13 paragraphs in Risk Factors that were not in the 10-K filed Feb 13, 2025. Quoted as filed.

All 13 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 13, 2025 10-K, ITEM 1A
    New or amended laws, policies, regulations and oversight requirements, and compliance complexity resulting from disparities in requirements imposed by federal, state, and local authorities, could adversely impact our earnings, cash flows, and operations. Our assets and operations are subject to extensive and in some cases overlapping…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 13, 2025 10-K, ITEM 1A
    Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and results of operations. Our business and results of operations may be adversely affected by uncertainty and changes in U.S. trade policies, including tariffs, trade agreements, or other trade restrictions imposed by the U.S. or…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 13, 2025 10-K, ITEM 1A
    Public attention with respect to climate matters has resulted in an overall increase in climate focused activities in recent years by interested stakeholders, including government authorities and private interest groups. These include efforts to implement new laws, regulations, and policies focused on enhanced disclosures related to…

New risk paragraphs, against peers

Latest 10-K of each, Energy companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$19.2B$15.3B$15.1B$16.9B
Net income$2.5B$2.4B$2.6B$3.1B
Operating cash flow$5.0B$6.5B$5.6B$5.9B
Free cash flow$3.3B$4.2B$3.0B$2.9B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$16.9B ▲ 12.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

4 filings in the last 30 days · SEC EDGAR

All filings

About the company

Kinder Morgan, Houston, TX · from the 10-K filed Feb 13, 2026

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 21, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Feb 13, 2026 (open at SEC), compared with the 10-K filed Feb 13, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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