Kinder Morgan (KMI) Operating Margin (2010 - 2026)
Kinder Morgan's Operating Margin was 25.60% in Q3 2026, down 0.04 percentage points from 25.64% a year earlier and down 4.46 percentage points from the prior quarter.
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Analysis
Kinder Morgan (KMI) Operating Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Kinder Morgan's Operating Margin was 28.97% through Sep 30, 2026, up 1.75 percentage points year-over-year; for FY2025, it was 27.89%, down 1.14 percentage points from FY2024.
- Operating Margin shows a five-year change of +14.56 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 29.03% in FY2024 (+1.23 pp), 27.80% in FY2023 (+6.63 pp), 21.17% in FY2022 (+3.62 pp) and 17.56% in FY2021 (+4.22 pp).
- The Q3 2026 figure marks the lowest quarterly Operating Margin since Q3 2023.
- Compared with a year earlier, Operating Margin was higher in four of the last eight quarters, with an average year-over-year change of +0.03 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q2 2022 (a gain of 43.78 percentage points); the worst was Q1 2022 (a drop of 12.34 percentage points).
- Per Business Quant data, KMI's Operating Margin in the three quarters before Q3 2026 was 30.06% (Q2 2026), 29.91% (Q1 2026) and 30.26% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 107.23 Bn | 102.83 Bn | 4.84 Bn | 9.93% |
| 2 | Williams Companies | 89.46 Bn | 88.17 Bn | 2.54 Bn | 38.72% |
| 3 | Enterprise Products Partners | 81.91 Bn | 80.30 Bn | - | 12.31% |
| 4 | Kinder Morgan | 73.70 Bn | 72.56 Bn | 2.97 Bn | 25.60% |
| 5 | Energy Transfer | 69.55 Bn | 62.73 Bn | 7.40 Bn | 10.41% |
| 6 | Tc Energy | 66.17 Bn | 62.52 Bn | 2.81 Bn | 61.26% |
| 7 | Cheniere Energy | 65.31 Bn | 59.46 Bn | 2.97 Bn | 31.02% |
| 8 | Targa Resources | 64.05 Bn | 63.53 Bn | 2.14 Bn | 27.80% |
| 9 | Mplx | 58.51 Bn | 52.08 Bn | 2.91 Bn | 41.61% |
| 10 | Oneok | 58.39 Bn | 57.79 Bn | 2.84 Bn | 12.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 25.60% |
| Jun 30, 2026 | 30.06% |
| Mar 31, 2026 | 29.91% |
| Dec 31, 2025 | 30.26% |
| Sep 30, 2025 | 25.64% |
| Jun 30, 2025 | 28.50% |
| Mar 31, 2025 | 27.00% |
| Dec 31, 2024 | 27.79% |
| Sep 30, 2024 | 27.44% |
| Jun 30, 2024 | 29.06% |
| Mar 31, 2024 | 31.83% |
| Dec 31, 2023 | 27.27% |
| Sep 30, 2023 | 24.01% |
| Jun 30, 2023 | 29.42% |
| Mar 31, 2023 | 30.71% |
| Dec 31, 2022 | 24.11% |
| Sep 30, 2022 | 17.98% |
| Jun 30, 2022 | 19.53% |
| Mar 31, 2022 | 23.85% |
| Dec 31, 2021 | 21.47% |
API Access
Kinder Morgan Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=KMI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "KMI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=KMI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();