KMI vs TRGP
Kinder Morgan, Inc. and Targa Resources Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | KMI | TRGP |
|---|---|---|
| Revenue | $16.9B | $17.0B |
| Net income | $3.1B | $1.9B |
| Gross margin | 67.4% | 38.3% |
| Net margin | 18.7% | 11.5% |
| Return on equity | 9.9% | 67.9% |
| Diluted EPS | $1.37 | $8.49 |
| Dividend / share | $1.17 | $3.75 |
| Payout ratio | 85.2% | · |
| Free cash flow | $2.9B | $584.1M |
| Equity | $31.2B | $3.1B |
| Net debt / equity | 1.02× | 5.63× |
| Current ratio | 0.64× | 0.67× |
| Revenue CAGR 5y | 7.7% | 15.6% |
| Profit CAGR 5y | 91.4% | · |
KMI and TRGP book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (18.7% against 11.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | KMI | TRGP |
|---|---|---|
| FY2025 | $16.9B | $17.0B |
| FY2024 | $15.1B | $16.4B |
| FY2023 | $15.3B | $16.1B |
| FY2022 | $19.2B | $20.9B |
| FY2021 | $16.6B | $16.9B |
| FY2020 | $11.7B | $8.3B |
| FY2019 | $13.2B | $8.7B |
| FY2018 | $14.1B | $10.5B |
| FY2017 | $13.7B | $8.8B |
| FY2016 | $13.1B | $6.7B |
Bottom line
| Fiscal year | KMI | TRGP |
|---|---|---|
| FY2025 | $3.1B | $1.9B |
| FY2024 | $2.6B | $1.3B |
| FY2023 | $2.4B | $1.3B |
| FY2022 | $2.5B | $1.2B |
| FY2021 | $1.8B | $71.2M |
| FY2020 | $119.0M | $-1.6B |
| FY2019 | $2.2B | $-209.2M |
| FY2018 | $1.6B | $1.6M |
| FY2017 | $183.0M | $54.0M |
| FY2016 | $708.0M | $-187.3M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$91,300,000 | TRGP |
| FY2024 | −$1,281,500,000 | TRGP |
| FY2023 | −$726,300,000 | TRGP |
| FY2022 | −$1,729,800,000 | TRGP |
| FY2021 | −$339,800,000 | TRGP |
| FY2020 | +$3,439,700,000 | KMI |
| FY2019 | +$4,537,900,000 | KMI |
| FY2018 | +$3,660,000,000 | KMI |
| FY2017 | +$4,890,100,000 | KMI |
| FY2016 | +$6,367,100,000 | KMI |
| FY2015 | +$8,937,600,000 | KMI |
The higher-revenue side has changed between KMI and TRGP over this period. The gap has narrowed since the earliest year compared.
11 of 17 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +7.2 pp | KMI |
| FY2024 | +8.5 pp | KMI |
| FY2023 | +6.4 pp | KMI |
| FY2021 | +8.6 pp | KMI |
| FY2020 | +17.6 pp | KMI |
| FY2019 | +16.5 pp | KMI |
| FY2018 | +13.0 pp | KMI |
| FY2017 | +0.4 pp | KMI |
| FY2016 | +7.9 pp | KMI |
| FY2015 | +4.2 pp | KMI |
KMI has kept the higher net margin in every one of these 10 fiscal years.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TRGP's net margin has been more volatile than KMI's over the 10 comparable fiscal years — 7.6 percentage points of standard deviation against 6.9.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
KMI led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TRGP's return on equity has been more volatile than KMI's over the 16 comparable fiscal years — 30.3 percentage points of standard deviation against 3.4.
16 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between KMI and TRGP over these 16 fiscal years — KMI led in 6 and TRGP in 10.
16 of 16 comparable fiscal years — a year missing data on either side is not counted.