KMI vs WES
Kinder Morgan, Inc. and Western Midstream Partners, LP, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | KMI | WES |
|---|---|---|
| Revenue | $15.2B | $3.8B |
| Net income | $3.1B | $1.2B |
| Gross margin | 48.9% | 81.3% |
| Net margin | 20.1% | 30.7% |
| Return on equity | 9.9% | — |
| Diluted EPS | $1.37 | — |
| Dividend / share | $1.17 | — |
| Payout ratio | 85.2% | 121.2% |
| Free cash flow | $2.9B | $411.1M |
| Equity | $31.2B | — |
| Net debt / equity | 1.02× | — |
| Current ratio | 0.64× | 1.34× |
| Revenue CAGR 5y | 8.5% | 8.6% |
| Profit CAGR 5y | 91.4% | 17.5% |
KMI bills 4.0× the revenue of WES, and WES keeps more of each dollar of revenue as profit (30.7% against 20.1%).
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 | KMI | WES |
|---|---|---|
| FY2025 | $15.2B | $3.8B |
| FY2024 | $13.5B | $3.6B |
| FY2023 | $13.6B | $3.1B |
| FY2022 | $18.1B | $3.3B |
| FY2021 | $16.2B | $2.7B |
| FY2020 | $10.1B | $2.5B |
| FY2019 | $12.1B | $2.7B |
| FY2018 | $13.3B | $2.3B |
| FY2017 | $13.7B | $2.4B |
| FY2016 | $13.1B | $1.8B |
Net income by year
Bottom line
| Fiscal year | KMI | WES |
|---|---|---|
| FY2025 | $3.1B | $1.2B |
| FY2024 | $2.6B | $1.6B |
| FY2023 | $2.4B | $1.0B |
| FY2022 | $2.5B | $1.2B |
| FY2021 | $1.8B | $916.3M |
| FY2020 | $119.0M | $527.0M |
| FY2019 | $2.2B | $697.2M |
| FY2018 | $1.6B | $551.6M |
| FY2017 | $183.0M | $540.8M |
| FY2016 | $708.0M | $345.8M |
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