Enterprise Value (EV)
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Kinder Morgan Inc. pages available for free this week:
- Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2010
- Price to Operating Profit (P/OP) since 2010
- Price to Sales (P/S) since 2010
- Aggregate Accruals
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Current Enterprise Value (EV)
Kinder Morgan Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.01 par value, 9.75% Series A Mandatory Convertible, $1,000 per share liquidation preference (per books) | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Current portion of debt (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Restricted deposits | |
| Less: Marketable securities at fair value | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2019-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Kinder Morgan Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Kinder Morgan Inc. Annual Report.
3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common Equity (Market Value)
- The common equity market value experienced a significant increase from 34,857 million US dollars at the end of 2015 to a peak of 50,185 million US dollars by the end of 2016. This was followed by a notable decline to 38,033 million in 2017. Subsequently, the value exhibited a gradual upward trend, reaching 40,791 million in 2018 and further increasing to 49,401 million by the end of 2019. Overall, the common equity market value shows volatility with a sharp rise and fall between 2015 and 2017 but regains strength towards 2019.
- Total Equity
- Total equity closely mirrors the movement seen in common equity market value, starting at 35,141 million in 2015 and rising sharply to 50,556 million in 2016. This is followed by a decrease to 39,521 million in 2017. Afterward, total equity rises steadily to 41,644 million in 2018 and continues to increase to 49,745 million in 2019. The total equity trend indicates similar volatility and recovery as common equity, maintaining a consistent spread around the corresponding market value figures.
- Total Equity and Debt
- The combined figure of total equity and debt shows an overall upward trend from 78,368 million US dollars in 2015 to 90,606 million in 2016, indicating increased leverage or capital employed. This is followed by a sharp decline to 77,364 million in 2017. The aggregate then stabilizes, with a slight increase to 78,968 million in 2018 and a more pronounced rise to 84,137 million in 2019. The pattern suggests an increase in financing or asset base in 2016, a contraction in 2017, and partial recovery in the following years.
- Enterprise Value (EV)
- Enterprise value trends are similar to the total equity and debt figures, starting at 78,079 million in 2015 and increasing to 89,819 million in 2016. This is followed by a decrease to 77,038 million in 2017. The EV then slightly decreases further to 75,637 million in 2018 before rising again to 83,003 million in 2019. The EV trend reflects market perceptions of the company's total valuation, including debt, and aligns closely with the capital structure changes indicated by the total equity and debt figures.