Kinder Morgan, Inc. — Earnings Quality Grade F
KMI · Energy
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 37 days, change +1 days YoY
AR growth 13.8% vs revenue growth 12.2%
Revenue 12.2%, CFFO 5.0%. Cash follows revenue
Expense Quality
Inventory 3.4% vs COGS 19.3%. Normal
CapEx growth 15.1% vs revenue 12.2%. Normal
SG&A/Gross Profit = 8.3%, excellent (<30%)
Gross margin 52.9%, change -2.8pp. Stable
Cash Flow Quality
CFFO/NI = 1.94. Profits backed by cash
FCF $2.9B, FCF/NI = 0.95
Accruals ratio = -3.9%. Low accruals
Cash $0.1B covers only 0% of debt $31.8B
Balance Sheet Health
Goodwill+Intangibles $21.8B = 70% of equity. Over 50%
Debt/EBITDA = 4.4x (>4x). Financial stress
Other assets 11.2% vs revenue 12.2%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -0% YoY. Normal
Manipulation Score
M-Score = -2.51 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10