CluenexKinder Morgan Inc KMI
Kinder Morgan Inc scores average on business quality (4.8 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Kinder Morgan Inc does
Kinder Morgan operates a vast network of pipelines and storage terminals, moving natural gas and refined products across North America. Energy producers and utilities pay fee-based tariffs to transport essential commodities.
- What it does best
Kinder Morgan runs the largest natural gas transmission network in North America, moving about forty percent of US consumption. Its extensive asset footprint creates a formidable barrier to entry, supported by an operating margin of 29.7% that outpaces peer EPD at 12.9%.
- The main risk
Macroeconomic conditions point toward potential volume stagnation, threatening throughput revenue across its pipeline network. With total debt sitting at $32.0 billion against a net income of $3.4 billion, any prolonged slowdown directly squeezes distribution coverage.
Quality, check by check
Scored against its own industry, from company filings.
Gross margin stands at 49.4% with an operating margin of 29.7%, landing in the middle of the sector pack at the 60th percentile. Free cash flow margin reaches 18.4% on $18.0 billion of revenue. The asset-heavy model delivers stable cash generation as scale remains fixed.
The network moat locks in producers and utilities who have few alternative routes to market. Operating margin sits in the middle of the pack at the 60th sector percentile. Replicating thousands of miles of regulated interstate pipe requires capital and approvals that take decades.
Revenue growth printed at 12.2% recently, rebounding from prior years' contraction. The top-line expansion sits in the top quartile of its sector at the 69th percentile, driven primarily by increased natural gas transport volumes.
Total debt sits at $32.0 billion with a debt-to-equity ratio of 1.0, creating a heavy fixed obligation load. Free cash flow reached $3.3 billion recently, showing steady generation. The balance sheet remains heavily leveraged, showing little near-term deleveraging progress.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on KMI
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Kinder Morgan Inc scores average on the Cluenex quality check (4.8 of 10), measured against its own industry. Profitability is fair, moat fair, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Oct 21, 2026, after the close.
See KMI today
- Today's verdict on KMI, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Kinder Morgan Inc (KMI)”, https://cluenex.com/stocks/kmi/, data as of Oct 10, 2026.