Kinder Morgan
Kinder Morgan returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 6.25% | 7.61% | 126.26% | 11.07% | 4.74% | 1.8 pp |
| FY 2026 Q1 | Mar 31, 2026 | 6.1% | 7.47% | — | 10.68% | 4.56% | 1.7 pp |
| FY 2025 Q4 | Dec 31, 2025 | 5.84% | 7.01% | 33.26% | 9.91% | 4.24% | 1.4 pp |
| FY 2025 Q3 | Sep 30, 2025 | 5.52% | 6.64% | 8.34% | 8.94% | 3.81% | 1.1 pp |
| FY 2025 Q2 | Jun 30, 2025 | 5.58% | 6.62% | 16.76% | 8.95% | 3.81% | 1.2 pp |
| FY 2025 Q1 | Mar 31, 2025 | 5.37% | 6.49% | 10.41% | 8.51% | 3.61% | 1 pp |
| FY 2024 Q4 | Dec 31, 2024 | 5.49% | 6.74% | — | 8.59% | 3.67% | 1.1 pp |
| FY 2024 Q3 | Sep 30, 2024 | 5.49% | 6.8% | 10.44% | 8.37% | 3.64% | 1.1 pp |
| FY 2024 Q2 | Jun 30, 2024 | 5.3% | 6.71% | -3.08% | 8.04% | 3.5% | 0.9 pp |
| FY 2024 Q1 | Mar 31, 2024 | 5.26% | 6.59% | 0.71% | 8.04% | 3.52% | 0.9 pp |
| FY 2023 Q4 | Dec 31, 2023 | 5.22% | 6.72% | 18.38% | 7.83% | 3.39% | 0.8 pp |
| FY 2023 Q3 | Sep 30, 2023 | 5.31% | 6.75% | — | 8.09% | 3.55% | 0.9 pp |
| FY 2023 Q2 | Jun 30, 2023 | 5.34% | 6.76% | — | 8.22% | 3.63% | 0.9 pp |
| FY 2023 Q1 | Mar 31, 2023 | 5.26% | 6.68% | — | 8.34% | 3.71% | 0.9 pp |
| FY 2022 Q4 | Dec 31, 2022 | 5.03% | 6.36% | — | 8.28% | 3.63% | 0.6 pp |
| FY 2022 Q3 | Sep 30, 2022 | 4.94% | 6.13% | — | 8.2% | 3.6% | 0.5 pp |
| FY 2022 Q2 | Jun 30, 2022 | 4.84% | 5.99% | 5,835.71% | 7.95% | 3.49% | 0.4 pp |
| FY 2022 Q1 | Mar 31, 2022 | 2.69% | 3.18% | — | 3.32% | 1.48% | -1.7 pp |
| FY 2021 Q4 | Dec 31, 2021 | 3.76% | 4.44% | — | 5.73% | 2.51% | -0.6 pp |
| FY 2021 Q3 | Sep 30, 2021 | 3.68% | 4.49% | — | 5.65% | 2.48% | -0.7 pp |
| FY 2021 Q2 | Jun 30, 2021 | 3.64% | 4.44% | — | 5.49% | 2.41% | -0.8 pp |
| FY 2021 Q1 | Mar 31, 2021 | 3.65% | 5.06% | — | 5.62% | 2.53% | -0.7 pp |
| FY 2020 Q4 | Dec 31, 2020 | 0.64% | 2.29% | — | 0.37% | 0.16% | -3.8 pp |
| FY 2020 Q3 | Sep 30, 2020 | 0.72% | — | — | 0.37% | 0.16% | -3.7 pp |
| FY 2020 Q2 | Jun 30, 2020 | 0.89% | 3.84% | — | 0.53% | 0.23% | -3.5 pp |
| FY 2020 Q1 | Mar 31, 2020 | 3.55% | 5.6% | — | 3.98% | 1.77% | -0.8 pp |
| FY 2019 Q4 | Dec 31, 2019 | 5.04% | 6.94% | — | 6.5% | 2.86% | 0.6 pp |
| FY 2019 Q3 | Sep 30, 2019 | 4.22% | — | 166.29% | 6.15% | 2.66% | -0.2 pp |
| FY 2019 Q2 | Jun 30, 2019 | 4.93% | 6.34% | — | 6.75% | 2.97% | 0.5 pp |
| FY 2019 Q1 | Mar 31, 2019 | 4.14% | 5.33% | — | 4.61% | 2.11% | -0.3 pp |
| FY 2018 Q4 | Dec 31, 2018 | 4.11% | 5.26% | — | 4.4% | 2.04% | -0.3 pp |
| FY 2018 Q3 | Sep 30, 2018 | 1.02% | 4.8% | — | -0.14% | 0.14% | -3.4 pp |
| FY 2018 Q2 | Jun 30, 2018 | — | 3.9% | — | -1.19% | -0.32% | — |
| FY 2018 Q1 | Mar 31, 2018 | 0.7% | 4.79% | — | 0.32% | 0.34% | -3.7 pp |
| FY 2017 Q4 | Dec 31, 2017 | 0.5% | 4.81% | — | 0.08% | 0.23% | -3.9 pp |
| FY 2017 Q3 | Sep 30, 2017 | 3.13% | 4.9% | — | 3.56% | 1.73% | -1.3 pp |
| FY 2017 Q2 | Jun 30, 2017 | 2.23% | 4.91% | — | 1.94% | 1.02% | -2.2 pp |
| FY 2017 Q1 | Mar 31, 2017 | 2.23% | 4.89% | — | 1.94% | 1.02% | -2.2 pp |
| FY 2016 Q4 | Dec 31, 2016 | 2.06% | 4.63% | — | 1.59% | 0.86% | -2.3 pp |
| FY 2016 Q3 | Sep 30, 2016 | — | 3.09% | — | -0.97% | -0.23% | — |
| FY 2016 Q2 | Jun 30, 2016 | 0.58% | 2.85% | — | 0.21% | 0.21% | -3.8 pp |
| FY 2016 Q1 | Mar 31, 2016 | 0.47% | 2.74% | — | 0.21% | 0.16% | -3.9 pp |
| FY 2015 Q4 | Dec 31, 2015 | 0.85% | 3.12% | -215.24% | 0.66% | 0.3% | -3.6 pp |
| FY 2015 Q3 | Sep 30, 2015 | 3.66% | 4.85% | -7.05% | 4.47% | 1.32% | -0.7 pp |
| FY 2015 Q2 | Jun 30, 2015 | 4.42% | 5.72% | -1.67% | 5.09% | 1.5% | 0 pp |
| FY 2015 Q1 | Mar 31, 2015 | 4.64% | 5.86% | 0.53% | 4.88% | 1.44% | 0.2 pp |
| FY 2014 Q4 | Dec 31, 2014 | 4.99% | 6.1% | 2.93% | 4.35% | 1.3% | 0.6 pp |
| FY 2014 Q3 | Sep 30, 2014 | 5.66% | 6.68% | 24.27% | 9.59% | 1.63% | 1.3 pp |
| FY 2014 Q2 | Jun 30, 2014 | 5.38% | 6.38% | 22.56% | 9.1% | 1.59% | 1 pp |
| FY 2014 Q1 | Mar 31, 2014 | 5.37% | 6.21% | 9.67% | 8.97% | 1.65% | 1 pp |
| FY 2013 Q4 | Dec 31, 2013 | 5.14% | 6.04% | 13.2% | 6.42% | 1.66% | 0.7 pp |
| FY 2013 Q3 | Sep 30, 2013 | 4.88% | 5.78% | 34.38% | 7.84% | 1.49% | 0.5 pp |
| FY 2013 Q2 | Jun 30, 2013 | 4.76% | 5.54% | 50.32% | 7.1% | 1.38% | 0.4 pp |
| FY 2013 Q1 | Mar 31, 2013 | 6.25% | 6.93% | 4.38% | 6.98% | 1.19% | 1.8 pp |
| FY 2012 Q4 | Dec 31, 2012 | 5.67% | 5.82% | 3.98% | 2.3% | 0.64% | 1.3 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | 4.72% | — | 2.85% | 0.5% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 3.72% | — | 2.29% | 0.41% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | — | — | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | — | — | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | — | — | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · KMI, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.