Stock fact sheet · data as of
Kinder Morgan, Inc. (KMI): fair value, margin of safety and Wheel Score
Energy · Oil & Gas Midstream · United States · Defensive
Is KMI undervalued?
Kinder Morgan, Inc. (KMI) closed at 32.82 on 16 Oct 2026, 38% above the GLS average fair value of 23.78. 7 of the 9 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between GLS Growth (4.45) and 10 Cap (46.53). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files KMI under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for KMI
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 38.42 | +17% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 22.33 | -32% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 31.17 | -5% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 9.32 | -72% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 4.45 | -86% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 46.53 | +42% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 27.11 | -17% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 17.36 | -47% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 17.31 | -47% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -17.67 | -154% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 37.20 | +13% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Kinder Morgan, Inc. scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 4.7/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 4.8%, ROE 9.8%, ROA 4.1% - with debt at 1.04 times equity and a free-cash-flow yield of 4.3%.
The dividend yield is 3.60% at a payout ratio of 76%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Natural Gas Pipelines 59%, Products Pipelines 20%, Terminals 12% (quarter Q2 FY2026).
Institutional ownership scores 9/10, insider activity 8/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 4.8% |
|---|---|---|---|
| GLS Moat | 4.7 / 10 | ROE | 9.8% |
| Debt / equity | 1.04 | ROA | 4.1% |
| Free-cash-flow yield | 4.3% | Payout ratio | 76% |
| Institutions | 9 / 10 | Insiders · Congress | 8 · 5 / 10 |
Wheel Score 57: Fair
A Wheel Score of 57 puts Kinder Morgan, Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 16/20, Moat 7/15, Premium 15/20 and Stability 20/20; the weakest part is Value (0/25).
Implied volatility is 30% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (15 of 20 points). The option chain is deep: 279,979 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 16.8M shares a day on a market cap of $73.1B, with a beta of 0.58 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -38% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 7 / 15 | moat 4.7/10 | |
| Premium | 15 / 20 | implied volatility 30% | |
| Stability | 20 / 20 | 16.8M shares/day, $73.1B cap, beta 0.58 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Kinder Morgan, Inc. reports earnings on 21 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Midstream
The 12 companies below are the closest to Kinder Morgan, Inc. by market cap within the Oil & Gas Midstream industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| EPD Enterprise Products Partners L.P. | 35.57 | 34.43 | -3% | 64Fair | $76.8B |
| ET Energy Transfer LP | 19.88 | 26.67 | +25% | 77Good | $68.5B |
| TRP TC Energy Corporation | 61.14 | 64.85 | +6% | 73Good | $63.7B |
| TRGP Targa Resources Corp. | 290.91 | 153.51 | -90% | 63Fair | $62.4B |
| WMB The Williams Companies, Inc. | 72.80 | 41.67 | -75% | 58Fair | $89.0B |
| MPLX MPLX Lp | 57.12 | 67.89 | +16% | 77Good | $57.9B |
| LNG Cheniere Energy, Inc. | 279.15 | 507.09 | +45% | 87Prime | $57.7B |
| OKE ONEOK, Inc. | 90.65 | 115.64 | +22% | 78Good | $57.1B |
| ENB Enbridge Inc. | 46.83 | 42.08 | -11% | 53Fair | $104.4B |
| VG Venture Global, Inc. | 13.27 | 24.59 | +46% | 86Prime | $33.2B |
| CQP Cheniere Energy Partners, L.P. | 62.25 | 115.62 | +46% | 81Prime | $30.1B |
| PBA Pembina Pipeline Corporation | 48.52 | 41.17 | -18% | 51Fair | $28.2B |
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Start free See the Sunday ScanQuestions about KMI
Is KMI undervalued right now?
No: at 32.82 the stock trades 38% above the GLS average fair value of 23.78 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of KMI and what does it mean?
KMI scores 57 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for KMI?
23.78 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Kinder Morgan, Inc. report earnings next?
The next earnings report is due on 21 Oct 2026 (after the close), 5 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does KMI have listed options, and how liquid are they?
Yes. The nightly snapshot found 648 listed contracts with 279,979 open interest across all expiries and implied volatility of 30% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.