Based on the latest figures, Kinder Morgan reports a gross margin of 46.1%, an operating margin of 29%, an EBITDA margin of 48.3%, and a net margin of 19.6%. Margin expansion was strongest in net margin, which rose by 3 percentage points. Gross margin had the strongest contraction, falling by 0.3 percentage points.
KMI margin history
Over the last 3 years, Kinder Morgan recorded average margins of 47.12% gross, 28.25% operating, 48.06% EBITDA, and 17.33% net. Kinder Morgan's current performance shows that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.
KMI margin expansion
From the same period last year, operating margin expanded by 1.8 percentage points, EBITDA margin by 1.4 percentage points, and net margin by 3 percentage points, while gross margin contracted by 0.3 percentage points.
KMI Gross margin
Kinder Morgan recorded an average gross margin of 47.12% across the last 3 years. Kinder Morgan currently reports a gross margin of 46.1%, 1 percentage points below its three-year average. The gross margin for Kinder Morgan moved between 46.1% in Sep 2026 and 48.7% in Dec 2024.
KMI Operating margin
The average operating margin for Kinder Morgan was 28.25% over the last 3 years. As of the latest period, the current operating margin for Kinder Morgan is 29%, 0.8 percentage points above its three-year average. The operating margin for Kinder Morgan moved between 27.2% in Sep 2025 and 29% in Sep 2026.
KMI EBITDA margin
Over the last 3 years, the average EBITDA margin for Kinder Morgan was 48.06%. The latest EBITDA margin for Kinder Morgan is 48.3%, 0.2 percentage points above its three-year average. Kinder Morgan's EBITDA margin ranged from a low of 46.6% in Dec 2023 to a high of 49.7% in Dec 2024.
KMI Net margin
Kinder Morgan recorded an average net margin of 17.33% across the last 3 years. As of the latest period, Kinder Morgan's current net margin is 19.6%, which is 2.3 percentage points above its three-year average. Looking back over the last 3 years, Kinder Morgan's net margin reached 19.6% at its highest point in Sep 2026 and 15.6% at its lowest in Dec 2023.
KMI margin group comparison
Kinder Morgan's gross margin of 46.1% is higher than the Energy sector and its peers average but lower than the industry average. Looking at the Energy sector average of 42.7%, Kinder Morgan's gross margin is 8% higher.
KMI margin peer comparison
Frequently asked questions
What is Kinder Morgan's gross margin?
As of Sep 30, 2026, KMI has a gross margin of 46.1%.
What is Kinder Morgan's operating margin?
The current operating margin for KMI is 29% as of Sep 30, 2026.
What is Kinder Morgan's EBITDA margin?
For the period ending Sep 30, 2026, KMI recorded an EBITDA margin of 48.3%.
What is Kinder Morgan's net margin?
For the period ending Sep 30, 2026, KMI recorded a net margin of 19.6%.
What are the average margins of KMI?
Over the past 3 years, KMI reported average margins of 47.1% gross, 28.3% operating, 48.1% EBITDA, and 17.3% net.
What are the highest historical margins of KMI?
In the last 5 years, the highest margins reported by KMI were 48.7% gross in Dec 2024, 29% operating in Sep 2026, 49.7% EBITDA in Dec 2024, and 19.6% net in Sep 2026.
What are the lowest historical margins of KMI?
Across the 5-year period, KMI posted its lowest margins at 35.2% gross in Sep 2022, 13.1% operating in Mar 2022, 30.8% EBITDA in Mar 2022, and 6.6% net in Mar 2022.