Common-Size Income Statement
Paying user area
Try for free
Kinder Morgan Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2010
- Operating Profit Margin since 2010
- Return on Equity (ROE) since 2010
- Debt to Equity since 2010
- Price to Earnings (P/E) since 2010
- Analysis of Revenues
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Kinder Morgan Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Kinder Morgan Inc., common-size consolidated income statement
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Revenue Composition
- Revenue distribution shifted notably over the periods reviewed. The share of revenues attributed to services increased from 57.53% in 2017 to 62.06% by 2019, indicating a growing dependence on service-related income. Commodity sales decreased in relative terms from 41.26% in 2017 to 36.42% in 2019. The category labeled "Other" grew slightly from 1.21% in 2017 to 1.51% in 2019. Legacy categories such as natural gas sales and legacy services saw a decline or were discontinued in reported figures after 2016.
- Cost Structure and Gross Profit
- The cost of sales showed fluctuation, decreasing substantially from -31.7% in 2017 to -24.7% in 2019, reflecting enhanced cost control or changes in sales mix. Gross profit margin improved correspondingly, increasing from 68.3% in 2017 to 75.3% in 2019, indicating enhanced profitability at the gross level.
- Operating Expenses
- Operations and maintenance expenses experienced a moderate increase, moving from -16.23% in 2015 to -19.62% in 2019, which may suggest rising operational costs despite the growing gross profit. Depreciation, depletion, and amortization expenses increased as a percentage of revenues, especially notable in 2019 at -18.25%. General and administrative expenses remained relatively stable, fluctuating slightly around -4.5%. Taxes other than income taxes remained within a range of about -2.44% to -3.23%. Impairment losses on goodwill appeared only in 2015 and were absent thereafter, while gains/losses on divestitures and impairments turned positive in 2019, indicating potential disposal gains that year.
- Operating Income and Other Operating Items
- Operating income showed a strong upward trend, increasing from 16.99% in 2015 to 36.89% in 2019, indicating improved operational efficiency or profitable growth in core activities. Earnings from equity investments varied, with a notable drop to negative in 2016 and a peak in 2018, though it declined sharply to 0.76% in 2019. Interest expenses remained relatively stable, around -14%, while other income (expense), net, remained near zero but with minor positive swings. Overall other income (expense) showed variability, dipping significantly negative in 2016 before partially recovering.
- Income Before Taxes and Income Tax Expense
- Income before income taxes exhibited a positive and consistent upward trend, rising from 5.36% in 2015 to 23.96% in 2019, supporting the narrative of improved profitability. Income tax expense, however, fluctuated considerably, rising sharply in 2017 to -14.14% before dropping again in 2018 and 2019, thus affecting net profitability.
- Net Income and Contributions to Equity Holders
- Net income attributable to Kinder Morgan, Inc. showed marked improvement, from 1.76% in 2015 to 16.58% in 2019. The net income available to common stockholders followed a similar pattern, with a minimal return in 2017 but considerable growth by 2019, reaching 16.58%. Preferred stock dividends were present through 2018 but absent in 2019 data, potentially affecting the distributable earnings to common stockholders positively.