Latest: Q3 2026 · from the cash-flow statements filed with the SEC
Free cash flow$545M in Q3 2026 · $3.1B over twelve months
Operating cash flow$1.6B
Capital spending−$1.0B
Free cash flow+$545M
Cash / net income2.0×
Analysis
In Q3 2026, Kinder Morgan generated $1.6B of operating cash flow and spent $1.0B on capital projects, leaving free cash flow of $545M. That is $76.0M less than in Q3 2025 ($621M).
Over the twelve months to Sep 30, 2026, operating cash flow was $6.7B; the largest uses were capital spending ($3.7B), dividends ($2.6B), other investing ($207M); besides operations, cash came from net borrowing (+) / repaid (−) ($775M); the cash balance rose by $810M.
Operating cash flow was $1.6B against net income of $790M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$628M, deferred taxes +$194M, accrued liabilities +$127M.
Free cash flow
Operating cash flow less capital spending.Latest (Q3 2026): Operating cash flow $1.6B, Capital spending $1.0B.
Capital allocation, year by year
Over these 5 years operating cash flow totalled $28.7B; the largest uses were dividends ($12.6B) and capital spending ($10.9B). Cash-flow statements as filed.
Cash runway and the debt wall
Cash & investments$918M
Debt$33.1B
Net debt$32.2B
Due within a year$1.2B
Kinder Morgan funds itself: free cash flow was $3.1B over the last twelve months, and $918M of cash and investments stands against $33.1B of debt ($1.2B due within a year, 0.7× covered by cash).
Principal due in each year as disclosed in the annual report, against $918M of cash and investments now.
Where the cash came from and went
From profit to cash
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
Every quarter
Quarter
Operating cash flow
Capital spending
Acquisitions
Dividends
Net borrowing (+) / repaid (−)
Cash drawn (+) / kept (−)
Free cash flow
Q3 2026
$1.6B
−$1.0B
—
−$665M
$1.0B
−$824M
$545M
Q2 2026
$2.0B
−$982M
−$503M
−$665M
$241M
$61.0M
$978M
Q1 2026
$1.5B
−$804M
—
−$654M
$70.0M
−$71.0M
$687M
Q4 2025
$1.7B
−$820M
—
−$654M
−$561M
$24.0M
$872M
Q3 2025
$1.4B
−$793M
—
−$654M
−$89.0M
$64.0M
$621M
Q2 2025
$1.6B
−$647M
—
−$654M
−$416M
$98.0M
$1.0B
Q1 2025
$1.2B
−$766M
−$648M
−$642M
$1.0B
−$81.0M
$396M
Q4 2024
$1.5B
−$772M
—
−$642M
$18.0M
−$81.0M
$738M
Kinder Morgan: income statement and cash flow
Kinder Morgan, Q3 2026: revenue $4.5B (+9% year over year), operating margin 25.6%. The chart follows the revenue to costs, profit and cash.
Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.