Kinder Morgan, Inc.

Kinder Morgan, Inc.

KMIยทNYSE

$31.64

+0.62%
EnergyOil & Gas Midstream

Kinder Morgan, Inc. operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas liquefaction and storage facilities. The Products Pipelines segment owns and operates refined petroleum products, and crude oil and condensate pipelines; and associated product terminals and petroleum pipeline transmix facilities. The Terminals segment owns and/or operates liquids and bulk terminals that stores and handles various commodities, including gasoline, diesel fuel, chemicals, ethanol, metals, and petroleum coke; and owns tankers. The CO2 segment produces, transports, and markets CO2 to recovery and production crude oil from mature oil fields; owns interests in/or operates oil fields and gasoline processing plants; and operates a crude oil pipeline system in West Texas, as well as owns and operates RNG and LNG facilities. It owns and operates approximately 83,000 miles of pipelines and 143 terminals. The company was formerly known as Kinder Morgan Holdco LLC and changed its name to Kinder Morgan, Inc. in February 2011. Kinder Morgan, Inc. was founded in 1936 and is headquartered in Houston, Texas.

At a Glance

Live Snapshot
Market Cap$70.38B
EPS1.3700
P/E Ratio23.09
Earnings Date07/15/2026
Kinder Morgan, Inc.

Kinder Morgan, Inc. Fair Value Envelope

KMI ยท NYSE

Our analysis suggests that KMI has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $31.635, this represents a potential HIDDEN relative to our calculated worth for Kinder Morgan, Inc..

Intrinsic Value
Current Price: $31.635

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$142.7B
+ Cash & Equivalents$109.0M
Firm Value$142.8B
- Debt$32.4B
Equity Value$110.4B
/ Shares Outstanding2,222,282,387B
DCF Value$50
UNDERVALUED BY 57%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$6.7B
$7.2B
$7.7B
$8.2B
$8.8B
$9.5B
$10.1B
$10.9B
$11.6B
$12.5B
Maintenance CapEx
-$648.5M
-$694.9M
-$744.6M
-$797.8M
-$854.9M
-$916.0M
-$981.5M
-$1.1B
-$1.1B
-$1.2B
Owner Earnings
$6.0B
$6.5B
$6.9B
$7.4B
$8.0B
$8.5B
$9.2B
$9.8B
$10.5B
$11.3B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$5.6B
$5.6B
$5.5B
$5.5B
$5.4B
$5.4B
$5.3B
$5.3B
$5.3B
$5.2B
Terminal Value represents 62.1% of Enterprise Value