ET vs KMI
Energy Transfer LP and Kinder Morgan, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | ET | KMI |
|---|---|---|
| Revenue | $85.5B | $15.2B |
| Net income | $4.4B | $3.1B |
| Gross margin | 25.8% | 48.9% |
| Net margin | 5.2% | 20.1% |
| Return on equity | — | 9.9% |
| Diluted EPS | — | $1.37 |
| Dividend / share | — | $1.17 |
| Payout ratio | — | 85.2% |
| Free cash flow | $3.8B | $2.9B |
| Equity | — | $31.2B |
| Net debt / equity | — | 1.02× |
| Current ratio | 1.22× | 0.64× |
| Revenue CAGR 5y | 17.0% | 8.5% |
| Profit CAGR 5y | — | 91.4% |
ET bills 5.6× the revenue of KMI, and KMI keeps more of each dollar of revenue as profit (20.1% against 5.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | ET | KMI |
|---|---|---|
| FY2025 | $85.5B | $15.2B |
| FY2024 | $82.7B | $13.5B |
| FY2023 | $78.6B | $13.6B |
| FY2022 | $89.9B | $18.1B |
| FY2021 | $67.4B | $16.2B |
| FY2020 | $39.0B | $10.1B |
| FY2019 | $54.2B | $12.1B |
| FY2018 | $54.1B | $13.3B |
| FY2017 | $40.5B | $13.7B |
| FY2016 | $31.8B | $13.1B |
Net income by year
Bottom line
| Fiscal year | ET | KMI |
|---|---|---|
| FY2025 | $4.4B | $3.1B |
| FY2024 | $4.8B | $2.6B |
| FY2023 | $3.9B | $2.4B |
| FY2022 | $4.8B | $2.5B |
| FY2021 | $5.5B | $1.8B |
| FY2020 | $-648.0M | $119.0M |
| FY2019 | $3.5B | $2.2B |
| FY2018 | $1.7B | $1.6B |
| FY2017 | $954.0M | $183.0M |
| FY2016 | $995.0M | $708.0M |
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