KINDER MORGAN, INC. (KMI) closed fiscal year 2025 with a gross margin of 52.9 % and a net margin of 18.0 %.
KINDER MORGAN, INC. (KMI) closed fiscal year 2025 with a gross margin of 52.9 % and a net margin of 18.0 %. The same year shows an EBITDA margin of 42.4 % and an EBIT margin of 27.9 %. The free cash flow margin was 17.1 %. Against the previous year the gross margin moved −2.8 pp and the net margin +0.7 pp. Across the period the gross margin ranges between 51.8 % in 2022 and 78.2 % in 2020. The series covers 17 fiscal years, from 2009 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | 58.73 % | 69.35 % | 62.67 % | 61.31 % | 71.82 % | 73.74 % | 68.30 % | 68.74 % | 75.30 % | 78.25 % | 60.91 % | 51.80 % | 53.12 % | 55.69 % | 52.87 % |
| EBITDA margin (%) | 34.48 % | 27.88 % | 31.36 % | 40.23 % | 41.19 % | 39.99 % | 33.02 % | 44.01 % | 42.25 % | 43.06 % | 55.14 % | 31.83 % | 30.41 % | 32.56 % | 42.47 % | 44.62 % | 42.37 % |
| EBIT margin (%) | 19.58 % | 14.43 % | 17.92 % | 26.00 % | 28.36 % | 27.41 % | 16.99 % | 27.09 % | 25.75 % | 26.82 % | 36.89 % | 13.33 % | 17.56 % | 21.17 % | 27.80 % | 29.03 % | 27.89 % |
| Net margin (%) | 6.89 % | -0.52 % | 7.48 % | 3.16 % | 8.48 % | 6.32 % | 1.76 % | 5.42 % | 1.34 % | 11.38 % | 16.58 % | 1.02 % | 10.74 % | 13.27 % | 15.59 % | 17.30 % | 18.04 % |
| FCF margin (%) | 3.54 % | 11.55 % | 14.68 % | 7.88 % | 5.35 % | 5.24 % | 9.84 % | 14.37 % | 10.31 % | 15.12 % | 18.76 % | 24.30 % | 26.65 % | 17.43 % | 27.22 % | 19.91 % | 17.07 % |
