KMI
Kinder Morgan, Inc. (KMI)
Last Price$27.10.1%
Market Cap$60.9B
DCF value
$44.6
Undervalued (DCF value)
64.2%
Discount Rate
5.5%
Long-Term Growth Rate
1.5%
Stock quality
6/10
Good

KMI DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Dec'20 ActualDec'21 ActualDec'22 ActualDec'23 ActualDec'24 ActualDec'25 EstimateDec'26 EstimateDec'27 EstimateDec'28 EstimateDec'29 EstimateDec'30 EstimateDec'31 EstimateDec'32 EstimateDec'33 EstimateDec'34 EstimateDec'35 Terminal
% growth
11,700.0
(11.4%)
16,610.0
42.0%
19,200.0
15.6%
15,334.0
(20.1%)
15,100.0
(1.5%)
16,299.1
7.9%
16,426.4
0.8%
16,869.1
2.7%
16,973.4
0.6%
17,099.7
0.7%
17,248.4
0.9%
17,420.2
1.0%
17,615.7
1.1%
17,835.5
1.2%
18,080.6
1.4%
18,351.8
1.5%
3,260.0
27.9%
4,029.0
24.3%
1,815.0
9.5%
4,263.0
27.8%
4,384.0
29.0%
4,661.8
28.6%
4,698.1
28.6%
4,824.8
28.6%
4,854.6
28.6%
4,890.7
28.6%
4,933.3
28.6%
4,982.4
28.6%
5,038.3
28.6%
5,101.2
28.6%
5,171.3
28.6%
5,248.8
28.6%
NOPAT
% effective tax rate
887.7
7.6%
3,359.0
20.2%
1,428.6
7.4%
3,310.8
21.6%
3,500.0
23.2%
3,721.7
22.8%
3,750.8
22.8%
3,851.9
22.8%
3,875.7
22.8%
3,904.5
22.8%
3,938.5
22.8%
3,977.7
22.8%
4,022.4
22.8%
4,072.6
22.8%
4,128.5
22.8%
4,190.4
22.8%
% of revenue
2,164.0
18.5%
2,135.0
12.9%
2,186.0
11.4%
2,250.0
14.7%
2,354.0
15.6%
2,262.8
13.9%
2,280.4
13.9%
2,341.9
13.9%
2,356.4
13.9%
2,373.9
13.9%
2,394.5
13.9%
2,418.4
13.9%
2,445.5
13.9%
2,476.1
13.9%
2,510.1
13.9%
2,547.7
13.9%
% of revenue
(1,707.0)
(14.6%)
(1,281.0)
(7.7%)
(1,621.0)
(8.4%)
(2,345.0)
(15.3%)
(2,629.0)
(17.4%)
(2,235.5)
(13.7%)
(2,252.9)
(13.7%)
(2,313.7)
(13.7%)
(2,328.0)
(13.7%)
(2,345.3)
(13.7%)
(2,365.7)
(13.7%)
(2,389.2)
(13.7%)
(2,416.1)
(13.7%)
(2,446.2)
(13.7%)
(2,479.8)
(13.7%)
(2,517.0)
(13.7%)
(123.0)
(1.1%)
(58.0)
(0.3%)
(258.0)
(1.3%)
1,195.0
7.8%
(73.0)
(0.5%)
324.1
2.0%
326.7
2.0%
335.5
2.0%
337.5
2.0%
340.1
2.0%
343.0
2.0%
346.4
2.0%
350.3
2.0%
354.7
2.0%
359.6
2.0%
365.0
2.0%
Free Cash Flow to Firm (FCFF)
% of revenue
1,221.7
10.4%
4,155.0
25.0%
1,735.6
9.0%
4,410.8
28.8%
3,152.0
20.9%
4,073.1
25.0%
4,104.9
25.0%
4,215.6
25.0%
4,241.6
25.0%
4,273.2
25.0%
4,310.4
25.0%
4,353.3
25.0%
4,402.2
25.0%
4,457.1
25.0%
4,518.3
25.0%
4,586.1
25.0%
% of FCFF used in calculation
83.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
9.50
Discount factor
0.97
0.92
0.88
0.83
0.79
0.75
0.71
0.67
0.64
0.60
Discounted FCFF (DFCFF)
3,292.3
3,789.5
3,689.6
3,519.7
3,361.8
3,215.0
3,078.5
2,951.4
2,833.1
2,722.9

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KMI DCF Value

DCF Value Calculation

as of Mar 03, 2025
Sum of DFCFF
% share of EV
32.5B
31.8%
Terminal Value (TV)
115.4B
Discounted TV
% share of EV
69.5B
68.2%
Total Debt
2,009.0M
Shares outstanding
2,244.9M
FX rate
1.0
64.2% undervalued

Equity Value Bridge

KMI DCF Financials

Revenue
$15.1B -> $18.1B 1.8% CAGR
Operating Income
$4,384.0M -> $5,171.3M 1.7% CAGR
FCFF
$3,152.0M -> $4,518.3M 3.7% CAGR

KMI DCF sensitivity

DCF value
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
4.0%
$51.0
$51.0
$51.0
$51.0
$51.0
4.5%
$48.0
$50.0
$50.0
$50.0
$50.0
5.5%
$38.0
$41.0
$45.0
$47.0
$47.0
5.5%
$38.0
$41.0
$44.0
$47.0
$47.0
6.0%
$35.0
$37.0
$39.0
$43.0
$46.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
0.5%
1.0%
1.5%
2.0%
2.5%
WACC
4.0%
88.0%
88.0%
88.0%
88.0%
88.0%
4.5%
77.0%
84.0%
84.0%
84.0%
84.0%
5.5%
40.0%
51.0%
66.0%
73.0%
73.0%
5.5%
40.0%
51.0%
62.0%
73.0%
73.0%
6.0%
29.0%
36.0%
44.0%
58.0%
69.0%

Explore more intrinsic value tools hub for KMI

FAQ

What is Kinder Morgan, Inc. DCF (discounted cash flow) valuation?

As of Mar 03, 2025, Kinder Morgan, Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at $44.6. This suggests it may be undervalued by 64.2% compared to its current price of around $27.1, using a WACC of 5.5% and growth rates of 1.5%.

What is Kinder Morgan, Inc. WACC?

As of Mar 03, 2025, Kinder Morgan, Inc.'s Weighted Average Cost of Capital (WACC) is approximately 5.5%.

What is Kinder Morgan, Inc. Enterprise Value?

As of Mar 03, 2025, Kinder Morgan, Inc.'s Enterprise Value (EV) is approximately $102.0B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.