Short answer
Kinder Morgan (KMI) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026. It reported revenue of $15.2B (+12.7% year over year) and net income of $3.1B.
- Top risk flagged: Dividend payments non-cumulative, risk of reduced future payments if expected dividends are unmet
FY2025 key financial metrics · XBRL
- Revenue
- $15.2B
- +12.7% YoY
- Net income
- $3.1B
- +17.0% YoY
- Operating margin
- 31.1%
- −1.4 pp YoY
- EPS (diluted)
- $1.37
- +17.1% YoY
- ROE
- 9.8%
- +1.2 pp YoY
- Operating cash flow
- $5.9B
- +5.0% YoY
Source: XBRL data from the Kinder Morgan (KMI) FY2025 10-K on SEC EDGAR. USD.
Kinder Morgan FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Management Discussion & Analysis
- Divestiture of EagleHawk 25% equity interest for $382 million in Natural Gas Pipelines segment
- Acquisition of Outrigger Energy for $648 million, adding natural gas gathering/processing capacity in North Dakota
- 2026 dividends expected $1.19/share, up 2% from $1.17/share in 2025
- Discretionary capital expenditures nearly $3.3 billion planned for 2026 in expansion projects and joint ventures
- Forward-looking guidance subject to risks and uncertainties; actual performance may vary
Risk Factors
- Dividend payments non-cumulative, risk of reduced future payments if expected dividends are unmet
- Obligated Group cross guarantee exposes $31.15B debt securities to joint repayment risk among KMI and subsidiaries
- Current liabilities decreased from $4.74B in 2024 to $4.02B in 2025, affecting short-term liquidity management
- Revenues $15.5B and operating income $4.17B in 2025 indicate dependency on operational cash flow for debt servicing
Generated from the filing text; verify against the original. How to read a 10-K
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