What is Kinder Morgan, Inc. (KMI) DCF Fair Value and Intrinsic Value in 2026?

Kinder Morgan, Inc. (KMI) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is Kinder Morgan, Inc.'s historical Return on Invested Capital (ROIC) and Moat Rating?

Kinder Morgan, Inc. operates in the Energy sector (Oil & Gas Midstream) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is Kinder Morgan, Inc.'s financial health rating and Piotroski F-Score?

Kinder Morgan, Inc.'s balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor Kinder Morgan, Inc. (KMI) for quarterly SEC filing thesis breaks?

LocalAlpha audits Kinder Morgan, Inc.'s 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksKMI

KMI

Kinder Morgan, Inc.Energy / Oil & Gas MidstreamINTACT

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. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities. The Products Pipelines segment owns and operates refined petroleum products, and crude oil and condensate pipelines; and associated product terminals and petroleum pipeline transmix facilities. The Terminals segment owns and/or operates liquids and bulk terminals that stores and handles various commodities, including gasoline, diesel fuel, renewable fuel and feedstocks, chemicals, ethanol, metals, and petroleum coke; and owns tankers. The CO2 segment produces, transports, and markets CO2 to recovery and production crude oil from mature oil fields; owns interests in/or operates oil fields and gasoline processing plants; and operates a crude oil pipeline system in West Texas, as well as owns and operates RNG and LNG facilities. The company was formerly known as Kinder Morgan Holdco LLC and changed its name to Kinder Morgan, Inc. in February 2011. Kinder Morgan, Inc. was founded in 1997 and is headquartered in Houston, Texas.

Share Price

$30.97

52W: $25.6 - $34.81

DCF Fair Value

$0.00

0% Premium

Thesis Hub

P/E (TTM)

20x

ROIC

22.6%

Operating Margin

30.1%

FCF Yield

1.6%

Debt / Equity

0.99x

Piotroski Score

6/9

Altman Z-Score

2.59

Market Cap

$68.9B

Price vs. Intrinsic Value Corridor

Fair Value Range

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

Valuation Overlays:0 Revised Graham ($44.19) Graham Number ($22.27)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$30.97

DCF Fair Value

$0.00

-100% Premium

Starting Free Cash Flow ($M)$1,075M

$100M$1,075M (Reported)$50,000M

Stage 1 Growth (Years 1-5)15.1%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$32,300M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$12.6B

PV of Terminal Value

$18.0B

Implied Enterprise Value

$30.6B

Implied Equity Value

$-1.7B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$1,237	$1,424	$1,639	$1,887	$2,172	$2,269	$2,371	$2,478	$2,590	$2,706
Present Value (PV)	$1,135	$1,199	$1,266	$1,337	$1,411	$1,353	$1,297	$1,244	$1,192	$1,143

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-39.1% Premium

$22.27

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $1.55BVPS: $14.22

Revised Graham Formula+29.9% MoS

$44.19

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings1.5% Yield

$0.46 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $1.0BYield: 1.5%

Reverse DCF: Market Growth Expectation

HIGH BARRIER

21.2% CAGR (Next 10 Yrs)

At the current price of $30.97, the market is assuming the business will compound Free Cash Flow at 21.2% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

⚠ High expectations: Leaves minimal margin of safety for operational hiccups.

Autonomous Thesis Underwriting

Surveil KMI with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for Kinder Morgan, Inc.. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 30.1% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

Track KMI & Set Alerts Browse S&P 500 Coverage

Frequently Asked Questions: Kinder Morgan, Inc. (KMI) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for Kinder Morgan, Inc..

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, Kinder Morgan, Inc. has an estimated DCF intrinsic fair value of $0.00 per share compared to its current market price of $30.97. This represents an estimated 0.0% margin of safety (trading below fair value). Additionally, its classic Benjamin Graham Number stands at $22.27.