Kinder Morgan, Inc. (KMI) Stock Analysis — Fair Value, Risk & Moat Rating
NYQ · Energy · Oil & Gas Midstream
Is Kinder Morgan, Inc. a safe investment right now?
Kinder Morgan, Inc.'s Altman Z-Score of 1.28 places it in the distress zone. Our fair value estimate is $27.19 (Overvalued). Moat rating: 2.9/5 stars.
Could Kinder Morgan, Inc. go bankrupt? Altman Z-Score analysis
Z-Score of 1.28 falls below the 1.8 distress threshold, indicating significant financial stress.
- Below 1.8 — Distress Zone (high bankruptcy risk)
- 1.8 to 3.0 — Gray Zone (elevated uncertainty)
- Above 3.0 — Safe Zone (financially healthy)
What drives KMI's Z-Score?
| Component | Formula | Value | Weight | Contribution |
|---|---|---|---|---|
| A · Working Capital / Total Assets | WC / TA | -0.0216 | 1.2 | -0.03 |
| B · Retained Earnings / Total Assets | RE / TA | -0.1399 | 1.4 | -0.2 |
| C · EBIT / Total Assets | EBIT / TA | 0.0649 | 3.3 | 0.21 |
| D · Market Cap / Total Liabilities | MCap / TL | 1.7562 | 0.6 | 1.05 |
| E · Revenue / Total Assets | Rev / TA | 0.2328 | 1.0 | 0.23 |
How has KMI's financial health changed over time?
| Year | Z-Score | Zone |
|---|---|---|
| 2022 | 1.32 | Distress |
| 2023 | 1.2 | Distress |
| 2024 | 1.24 | Distress |
| 2025 | 1.28 | Distress |
Source: Calculated from KMI's latest 10-K filing on SEC EDGAR.
What is Kinder Morgan, Inc. actually worth?
How we calculated this
| Input | Value | Source |
|---|---|---|
| Predicted EPS (α) | $1.38 | Proprietary blend of reported actuals + analyst consensus, weighted by α |
| Last Year EPS | $1.37 | Annual report (SEC EDGAR) |
| Analyst Consensus EPS (This Year) | $1.39 | 21 analysts consensus |
| Trailing P/E | 23.2x | Current market pricing |
| Fair P/E (β discount) | 19.7x | Trailing PE adjusted by value discount factor β, hard-capped |
| Earnings Trend (γ) | Stable | Directional signal: predicted vs trailing EPS |
Wall Street Reference: Analyst consensus target price is $35.05 (21 analysts). This is shown for reference only and is not used in our valuation model.
Source: Earnings data from SEC EDGAR filings. Market data via Yahoo Finance.
Does Kinder Morgan, Inc. have a durable competitive advantage?
Moat rating: 2.9/5.
What makes up KMI's moat score?
ROIC Stability
ROIC variability over the past decade. Score: 2/5.
Gross Margin Trend
Gross margin trajectory over the past decade. Score: 4/5.
Switching Costs
Estimated customer lock-in based on margin level. Score: 3/5.
How stable is KMI's return on invested capital?
| Year | ROIC | Trend |
|---|---|---|
| 2022 | 6.5% | — |
| 2023 | 6.9% | Stable |
| 2024 | 7.0% | Stable |
| 2025 | 7.5% | Stable |
Source: ROIC calculated from SEC EDGAR filings.
Is Kinder Morgan, Inc.'s dividend safe?
Can Kinder Morgan, Inc. afford its dividend?
Payout ratio is 85.0%. FCF covers the dividend 1.3x. 16 consecutive years of payments.
Kinder Morgan, Inc.'s key financial metrics
| Metric | Latest | 1Y Ago | 3Y Ago | Trend |
|---|---|---|---|---|
| Revenue | $16.9B | $15.1B | $19.2B | Declining |
| Net Income | $3.1B | $2.6B | $2.5B | Rising |
| Free Cash Flow | $2.9B | $3.0B | $3.3B | Declining |
| Gross Margin | 52.9% | 55.7% | 40.4% | Rising |
Recent events that affect our KMI analysis
KMI analyst consensus: 48% bullish (11 of 23 analysts)
2 Strong Buy, 9 Buy, 11 Hold, 0 Sell, 1 Strong Sell. Consensus target: $35.05 (10.2% upside). Compare with our independent Fair Value: $27.19.
KMI beat EPS estimates by 22.1%
Reported EPS: $0.48 vs estimate $0.39. Earnings strength supports our Fair Value of $27.19 (14.5% below current price).
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed annual report (10-K)
Annual filing with full-year financials. Our Altman Z-Score, Moat, and Fair Value models are derived from this data. View on SEC EDGAR →
KMI paid $0.2930/share dividend
Dividend Safety Grade: B. Payout ratio: 85.0%.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI beat EPS estimates by 23.9%
Reported EPS: $0.45 vs estimate $0.36. Earnings strength supports our Fair Value of $27.19 (14.5% below current price).
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI paid $0.2930/share dividend
Dividend Safety Grade: B. Payout ratio: 85.0%.
KMI filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
KMI missed EPS estimates by 2.8%
Reported EPS: $0.29 vs estimate $0.30. Our Fair Value of $27.19 may face downward pressure if the trend continues.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI paid $0.2930/share dividend
Dividend Safety Grade: B. Payout ratio: 85.0%.
KMI filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
KMI beat EPS estimates by 0.8%
Reported EPS: $0.28 vs estimate $0.28. Earnings strength supports our Fair Value of $27.19 (14.5% below current price).
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI paid $0.2930/share dividend
Dividend Safety Grade: B. Payout ratio: 85.0%.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
KMI missed EPS estimates by 9.2%
Reported EPS: $0.32 vs estimate $0.35. Our Fair Value of $27.19 may face downward pressure if the trend continues.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI filed annual report (10-K)
Annual filing with full-year financials. Our Altman Z-Score, Moat, and Fair Value models are derived from this data. View on SEC EDGAR →
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI paid $0.2880/share dividend
Dividend Safety Grade: B. Payout ratio: 85.0%.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
KMI missed EPS estimates by 2.7%
Reported EPS: $0.32 vs estimate $0.33. Our Fair Value of $27.19 may face downward pressure if the trend continues.
KMI filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
Common questions about Kinder Morgan, Inc.
What is Kinder Morgan, Inc. stock price today?
Kinder Morgan, Inc. (KMI) stock price is $31.81 as of the latest market close, traded on the NYSE exchange.
What does Kinder Morgan, Inc. do?
Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America. It operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments.
What is Kinder Morgan, Inc. market cap?
Kinder Morgan, Inc. has a market capitalization of $70.77B, classifying it as a large-cap stock in the Energy sector.
What sector and industry is KMI in?
Kinder Morgan, Inc. operates in the Energy sector, specifically within the Oil & Gas Midstream industry. It trades on the NYSE under the ticker symbol KMI.
Is KMI stock overvalued or undervalued?
Based on our valuation model, Kinder Morgan, Inc. trades 17.0% above our fair value estimate — potentially overvalued.
- FairValueLabs Fair Value: $27.19
- Current Price: $31.81
- Valuation Zone: Overvalued
What is KMI stock forecast and analyst target price?
Based on 21 Wall Street analysts, the consensus price target for Kinder Morgan, Inc. is $35.05, implying upside of 10.2% from the current price.
- Analyst High Target: $43.00
- Analyst Low Target: $26.00
Note: Analyst targets are shown for reference and are not used in our valuation model.
Is Kinder Morgan, Inc. revenue and earnings growing?
Here are the analyst consensus growth estimates for Kinder Morgan, Inc.:
- Revenue growth (current year est.): 3.4%
- EPS growth (current year est.): 6.7%
- Revenue growth (next year est.): 4.1%
- EPS growth (next year est.): 5.8%
What are Kinder Morgan, Inc.'s key financial metrics?
| Metric | Latest | Trend |
|---|---|---|
| Revenue | $16.9B | Declining |
| Net Income | $3.1B | Rising |
| Free Cash Flow | $2.9B | Declining |
| Gross Margin | 52.9% | Rising |
What is KMI's P/E ratio?
The price-to-earnings ratio measures how much investors pay per dollar of earnings:
- Trailing P/E (last 12 months): 23.2x
- Forward P/E (next 12 months est.): 21.7x
- FairValueLabs Fair P/E: 19.7x
How volatile is KMI stock?
Kinder Morgan, Inc. has a beta of 0.63, meaning it is less volatile than the broader market. A beta above 1.0 indicates higher price swings relative to the S&P 500, while below 1.0 suggests more stability.
How much cash and debt does Kinder Morgan, Inc. have?
Kinder Morgan, Inc.'s balance sheet shows:
- Total Cash: $67.0M
- Total Debt: $32.36B
- Net Cash Position: $-32.29B
A positive net cash position means the company holds more cash than debt, reducing financial risk.
What is Kinder Morgan, Inc.'s free cash flow?
Kinder Morgan, Inc. generated $455.9M in trailing twelve-month free cash flow (from $5.92B in operating cash flow). Free cash flow represents the cash available for dividends, buybacks, and debt reduction after all capital expenditures.
Does Kinder Morgan, Inc. pay a dividend, and is it safe?
Yes, Kinder Morgan, Inc. pays a regular dividend. Here are the key metrics:
- Dividend Yield: 3.7%
- Payout Ratio: 85.0%
- Consecutive Years Paid: 16
- 5-Year Dividend Growth: -22.9%
- FairValueLabs Safety Grade: B
Is Kinder Morgan, Inc. at risk of going bankrupt?
Kinder Morgan, Inc.'s Altman Z-Score is 1.28, placing it in the distress zone (below 1.8) — elevated bankruptcy risk. The Z-Score uses five balance sheet ratios to predict bankruptcy probability within two years.
Does Kinder Morgan, Inc. have a durable competitive advantage?
Kinder Morgan, Inc. scores 2.9/5 stars (Narrow moat · eroding) in our moat analysis:
- ROIC Stability: 2/5
- Gross Margin Trend: 4/5
- Switching Costs: 3/5
A score above 3.5 suggests meaningful pricing power and a defensible market position.
What is KMI's return on equity (ROE)?
Kinder Morgan, Inc.'s return on equity is 9.8%. ROE measures how efficiently a company generates profits from shareholder equity. An ROE above 15% is generally considered strong, while below 10% may signal inefficiency.
How do I buy KMI stock?
KMI shares can be purchased through any brokerage account that provides access to the NYSE. Common steps:
- Open an account with a broker (e.g., Fidelity, Schwab, Interactive Brokers)
- Search for ticker symbol KMI
- Place a market or limit order for your desired number of shares
This is not investment advice. Always do your own research before buying any stock.
Is KMI a value stock or speculative?
FairValueLabs classifies Kinder Morgan, Inc. as Value Investment. It exhibits consistent profitability, reasonable valuation, and financial stability — characteristics of a traditional value investment.
Who is the CEO of Kinder Morgan, Inc.?
The current CEO of Kinder Morgan, Inc. is Ms. Kimberly Allen Dang.
What is KMI's earnings per share (EPS)?
Earnings per share measures the company's profit allocated to each outstanding share:
- Trailing EPS (last 12 months): $1.37
- Forward EPS (next 12 months est.): $1.47
- Analyst consensus EPS (this year): $1.39
- Analyst consensus EPS (next year): $1.47
Other Energy companies analyzed by FairValueLabs
FairValueLabs Disclaimer
All valuations, scores, ratings, and classifications on this page are produced by the FairValueLabs internal valuation system. They do not represent actual market value, guaranteed outcomes, or professional investment advice. These are analytical estimates for educational and research purposes only.
This is not financial advice. All data is sourced from SEC EDGAR public filings. Always consult a qualified financial advisor before making investment decisions.
Last updated: Apr 22, 2026. Data sources: SEC EDGAR (financial statements), Yahoo Finance (market data, analyst consensus). Data may not reflect the most recent quarter.
KMI analysis methodology: How we calculate fair value, Z-Scores, and moat ratings