Kinder Morgan, Inc. (KMI)财务
NYSE · Energy · Oil & Gas Midstream · 员工11,028人 · CEO Kimberly Allen Dang
- 股价
- $33.87 -0.29%
- 市值
- $755亿
- 企业价值
- $1080亿
- 最近财报
- Q3 '26 2026-10-23提交
- 下次财报
- 2027-01-20 EPS预期 $0.38
营收(TTM)$183亿+11.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)29.0%+1.0 百分点 对比去年同期营业利润 $53.1亿
净利润(TTM)$36亿+32.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$30.8亿+12.0% 对比去年同期资本支出 $36.5亿
稀释EPS(TTM)$1.62+32.8% 对比去年同期最近4个季度之和
净现金-$322亿+1.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $755亿 EV $1080亿
- 营收
- $183亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 19.6% 净利润 / 营收,TTM
- P/E
- 20.9× 预期 21.6×(FY2026)
- P/S
- 4.1× 股价 / 营收,TTM
- EV / EBITDA
- 14.0× TTM
- 自由现金流
- $30.8亿 过去12个月
- 净利润
- $36亿 过去12个月
- 营收预期
- $183亿 FY2026年一致预期
- 盈利
- 2027-01-20 营收预期 $44.6亿
- 股息
- $1.18 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-21):营收超预期3.6%,EPS 超预期9.2%营收$45.3亿,预期$43.7亿(+3.6%);EPS $0.35,预期$0.32(+9.2%)。
- 营收增长放缓:同比9.3%Q3 '26营收$45.3亿,此前四个季度的平均值为12.7%。
- 营业利润率29.0%(TTM),较去年同期+1.0 百分点营收增长11.8%,营业利润增长15.7%。
- 税前利润的12.1%被营业外亏损吞噬税前利润$47.4亿,营业利润$53.1亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的19.9%(去年为18.2%)最近4个季度投入$36.5亿(同比+22.4%)。自由现金流$30.8亿,相当于净利润的85.5%。
- 股东回报$26.4亿 = 自由现金流的85.6%回购$0(去年为$0),股息$26.4亿,股权激励$0(TTM)。
- 稀释股数一年内增加0.1%Q3 '26稀释股数22.3亿,一年前为22.2亿。
- 净债务 $322亿现金 + 短期投资 $9.18亿,含租赁债务 $331亿;一年前净债务 $325亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $45.3亿 | $41.5亿 | +9.3% |
| 毛利率 | 41.8% | 32.7% | +9.1 百分点 |
| 营业利润 | $11.6亿 | $10.6亿 | +9.2% |
| 营业利润率 | 25.6% | 25.6% | 0.0 百分点 |
| 净利润 | $7.64亿 | $6.28亿 | +21.7% |
| 稀释EPS | $0.34 | $0.28 | +21.4% |
| 经营现金流 | $15.9亿 | $14.1亿 | +12.4% |
| 资本支出 | $10.5亿 | $7.93亿 | +31.8% |
| 自由现金流 | $5.45亿 | $6.21亿 | -12.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-10-21| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $45.3亿 | $43.7亿 | +3.6% |
| EPS(一致预期口径) | $0.35 | $0.32 | +9.2% |
来自2026-10-21发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Natural Gas Pipelines | $29亿 | +8.3% | 63.3% | $119亿 | +14.5% | |
| Products Pipelines | $7.72亿 | +14.0% | 16.9% | $30.2亿 | +8.8% | |
| Terminals | $5.62亿 | +8.5% | 12.3% | $22.2亿 | +6.3% | |
| CO2 | $3.44亿 | +22.0% | 7.5% | $13.2亿 | +13.9% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Unallocated | $900万 | 0.0% | 100.0% | $3600万 | 0.0% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $67.3亿
- 资本支出
- -$36.5亿
- 股票回购
- $0
- 股息
- -$26.4亿
- 收购
- -$5.03亿
- 债务净发行
- $7.75亿
- 股权激励费用
- $0
- 自由现金流
- $30.8亿
- 股东回报 / FCF
- 85.6%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 20.9× | 19.3× | 16.1× – 23.4× |
| EV / EBITDA | 14.0× | 11.3× | 9.9× – 12.5× |
| EV / 营收 | 5.9× | 4.8× | 3.7× – 6.2× |
| 股价 / FCF | 24.5× | 14.2× | 8.1× – 21.2× |
| 股价 / 净资产 | 2.4× | 1.5× | 1.2× – 2.0× |
| FCF收益率 | 4.1% | 8.1% | 4.7% – 12.3% |
| 投入资本回报率 | 5.8% | 5.3% | 4.6% – 6.4% |
| 净资产收益率 | 11.5% | 8.1% | 5.8% – 9.8% |
分析师
一致目标价 $37.67 (+11.2%)
区间 $34.00 – $43.00 · 评级 Buy
强烈买入0
买入18
持有15
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $183亿 | +7.8% | $1.57 | +14.6% | 21.6× | 12 |
| FY2027 | $185亿 | +1.1% | $1.55 | -1.0% | 21.8× | 13 |
| FY2028 | $194亿 | +5.1% | $1.68 | +8.4% | 20.1× | 8 |
| FY2029 | $207亿 | +6.6% | $1.83 | +8.8% | 18.5× | 5 |
| FY2030 | $222亿 | +7.1% | $1.97 | +7.6% | 17.2× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Kinder Morgan, Inc.在近期10-Q / 10-K文件中标记的全部241项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $15.9亿 | $13亿 | +22.5% | $14.1亿 | $14亿 | +0.9% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $16亿 | $14.4亿 | +10.5% | $17.1亿 | $15.1亿 | +13.8% |
| Accrual for Environmental Loss Contingencies | $1.74亿2026-06-30 | $1.85亿 | -5.9% | $1.76亿 | $1.88亿 | -6.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.62亿 | -$1400万 | -1,057.1% | $4500万 | -$9500万 | +147.4% |
| Additional Collateral, Aggregate Fair Value | $0 | $0 | – | $2500万2024-12-31 | $5400万 | -53.7% |
| Additional Paid in Capital | $413亿 | $413亿 | +0.1% | $413亿 | $412亿 | +0.1% |
| Amortization of Intangible Assets | – | – | – | $1.9亿 | $1.97亿 | -3.6% |
| APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition | -$2300万 | -$1400万 | -64.3% | $3900万 | $5400万 | -27.8% |
| Asset Retirement Obligation | $2.55亿2025-12-31 | $2.48亿 | +2.8% | $2.55亿 | $2.48亿 | +2.8% |
| Asset Retirement Obligation, Accretion Expense | – | – | – | $1400万 | $1300万 | +7.7% |
| Asset Retirement Obligation, Cash Paid to Settle | – | – | – | $3000万 | $1600万 | +87.5% |
| Asset Retirement Obligation, Current | $200万2025-12-31 | $200万 | 0.0% | $200万 | $200万 | 0.0% |
| Asset Retirement Obligation, Liabilities Incurred | – | – | – | $2300万 | $1000万 | +130.0% |
| Assets | $754亿 | $723亿 | +4.3% | $727亿 | $714亿 | +1.9% |
| Assets, Current | $34.7亿 | $24.3亿 | +43.0% | $27.5亿 | $25.2亿 | +9.2% |
| Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Equity Interests | – | – | – | -$3800万2024-12-31 | – | – |
| Capital Expenditures Incurred but Not yet Paid | -$5100万 | – | – | $5000万2024-12-31 | $1.2亿 | -58.3% |
| Cash and Cash Equivalents, at Carrying Value | $9.18亿 | $7100万 | +1,193.0% | $6300万 | $8800万 | -28.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.43亿 | $1.33亿 | +609.0% | $1.09亿 | $2.14亿 | -49.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8.24亿 | -$6400万 | +1,387.5% | -$1.05亿 | $1.18亿 | -189.0% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.30 | $0.29 | +1.7% | $1.17 | $1.15 | +1.7% |
| Common Stock, Dividends, Per Share, Declared | $0.30 | $0.29 | +1.7% | $1.17 | $1.15 | +1.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 40亿 | 40亿 | 0.0% | 40亿 | 40亿 | 0.0% |
| Common Stock, Shares, Issued | 22.3亿 | 22.2亿 | +0.1% | 22.2亿 | 22.2亿 | +0.1% |
| Common Stock, Shares, Outstanding | 22.3亿 | 22.2亿 | +0.1% | 22.2亿 | 22.2亿 | +0.1% |
| Common Stock, Value, Issued | $2200万 | $2200万 | 0.0% | $2200万 | $2200万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $2600万 | $2600万 | 0.0% | $1.04亿 | $1.07亿 | -2.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.52亿 | $6.38亿 | +2.2% | $32亿 | $27.4亿 | +16.9% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $6.78亿 | $6.64亿 | +2.1% | $33亿 | $28.4亿 | +16.1% |
| Contract with Customer, Asset, before Allowance for Credit Loss | $3300万 | $3600万 | -8.3% | $3000万 | $1500万 | +100.0% |
| Contract with Customer, Asset, Reclassified to Receivable | $300万 | $0 | – | $800万 | $2500万 | -68.0% |
| Contract with Customer, Liability | $4.88亿 | $4.45亿 | +9.7% | $4.59亿 | $3.77亿 | +21.8% |
| Contract with Customer, Liability, Revenue Recognized | $2900万 | $1400万 | +107.1% | $7800万 | $9700万 | -19.6% |
| Contribution of Property | – | – | – | $0 | $0 | – |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $15.7亿 | $14亿 | +12.3% | $55.3亿 | $43.4亿 | +27.5% |
| Costs and Expenses | $33.7亿 | $30.8亿 | +9.3% | $122亿 | $107亿 | +14.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2300万 | $1100万 | +109.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $400万 | $300万 | +33.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $5200万 | $4000万 | +30.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2500万 | $2600万 | -3.8% |
| Debt Instrument, Face Amount | $332亿 | $324亿 | +2.4% | $334亿2019-12-31 | $366亿 | -8.8% |
| Debt Instrument, Unamortized Discount (Premium), Net | $6700万2025-12-31 | $7000万 | -4.3% | $6700万 | $7000万 | -4.3% |
| Debt, Current | $17.3亿 | $10.8亿 | +59.7% | $12.3亿 | $20.1亿 | -39.0% |
| Debt, Weighted Average Interest Rate | 5.6%2025-12-31 | 5.8% | -4.1% | 5.6% | 5.8% | -4.1% |
| Deferred Credits and Other Liabilities, Noncurrent | $24.4亿 | $23.3亿 | +4.6% | $23.1亿 | $24.9亿 | -7.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $7.29亿 | $6.02亿 | +21.1% |
| Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge | -$1.49亿2025-12-31 | -$1.67亿 | +10.8% | -$1.49亿 | -$1.67亿 | +10.8% |
| Deferred Income Tax Expense (Benefit) | $1.94亿 | $1.85亿 | +4.9% | $7.8亿 | $6.47亿 | +20.6% |
| Deferred Income Tax Liabilities, Net | $36亿 | $26.1亿 | +38.3% | $28.9亿 | $20.7亿 | +39.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $5100万 | $4500万 | +13.3% |
| Deferred Tax Asset, Interest Carryforward | $3.46亿2025-12-31 | $3.72亿 | -7.0% | $3.46亿 | $3.72亿 | -7.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $18.1亿2025-12-31 | $23亿 | -21.3% | $18.1亿 | $23亿 | -21.3% |
| Deferred Tax Assets, Operating Loss Carryforwards | $10.2亿2025-12-31 | $14.2亿 | -28.2% | $10.2亿 | $14.2亿 | -28.2% |
| Deferred Tax Assets, Other | $1.83亿2025-12-31 | $1.79亿 | +2.2% | $1.83亿 | $1.79亿 | +2.2% |
| Deferred Tax Assets, Tax Credit Carryforwards | $2.65亿2025-12-31 | $3.12亿 | -15.1% | $2.65亿 | $3.12亿 | -15.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $6700万2025-12-31 | $8100万 | -17.3% | $6700万 | $8100万 | -17.3% |
| Deferred Tax Assets, Valuation Allowance | $7200万2025-12-31 | $6400万 | +12.5% | $7200万 | $6400万 | +12.5% |
| Deferred Tax Liabilities, Gross | $47亿2025-12-31 | $43.7亿 | +7.6% | $47亿 | $43.7亿 | +7.6% |
| Deferred Tax Liabilities, Net | $28.9亿2025-12-31 | $20.7亿 | +39.7% | $28.9亿 | $20.7亿 | +39.7% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01