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Kinder Morgan cash flow, quarter by quarter

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

Kinder Morgan: free cash flow by quarterKinder Morgan: free cash flow by quarter$738MQ4 2024$396MQ1 2025$1.0BQ2 2025$621MQ3 2025$872MQ4 2025$687MQ1 2026$978MQ2 2026$545MQ3 2026
Operating cash flow less capital spending.
Kinder Morgan: operating cash flow against capital spendingKinder Morgan: operating cash flow against capital spendingOperating cash flowCapital spending$1.5B$772MQ4 2024$1.2B$766MQ1 2025$1.6B$647MQ2 2025$1.4B$793MQ3 2025$1.7B$820MQ4 2025$1.5B$804MQ1 2026$2.0B$982MQ2 2026$1.6B$1.0BQ3 2026
Latest (Q3 2026): Operating cash flow $1.6B, Capital spending $1.0B.

Capital allocation, year by year

Kinder Morgan: where the cash came from (up) and went (down), by fiscal yearKinder Morgan: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingBuybacksDividendsFY2021: Operating cash flow $5.7BFY2021: Net borrowing −$872MFY2021: Capital spending −$1.3BFY2021: Dividends −$2.4B$5.7BFY2021FY2022: Operating cash flow $5.0BFY2022: Net borrowing −$677MFY2022: Capital spending −$1.6BFY2022: Buybacks −$368MFY2022: Dividends −$2.5B$5.0BFY2022FY2023: Operating cash flow $6.5BFY2023: Net borrowing $234MFY2023: Capital spending −$2.3BFY2023: Buybacks −$522MFY2023: Dividends −$2.5B$6.7BFY2023FY2024: Operating cash flow $5.6BFY2024: Net borrowing −$116MFY2024: Capital spending −$2.6BFY2024: Buybacks −$7.0MFY2024: Dividends −$2.6B$5.6BFY2024FY2025: Operating cash flow $5.9BFY2025: Net borrowing −$37.0MFY2025: Capital spending −$3.0BFY2025: Dividends −$2.6B$5.9BFY2025
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).

Kinder Morgan: debt maturities by year (FY2025)Kinder Morgan: debt maturities by year (FY2025)$1.2BYear 1$942MYear 2$1.9BYear 3$1.8BYear 4$2.4BYear 5$23.6BAfter year 5
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

Kinder Morgan: sources (+) and uses (−) of cash, Q3 2026Kinder Morgan: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$1.6BCapital spending−$1.0BNet borrowing (+) / repaid (−)$1.0BCash drawn (+) / kept (−)−$824MDividends−$665MOther financing−$58.0MPartners−$42.0MOther investing$19.0M
Kinder Morgan: sources (+) and uses (−) of cash, TTM to Q3 2026Kinder Morgan: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$6.7BCapital spending−$3.7BDividends−$2.6BCash drawn (+) / kept (−)−$810MNet borrowing (+) / repaid (−)$775MOther investing−$207MPartners−$150MOther financing−$52.0M

From profit to cash

Kinder Morgan: net income to operating cash flow, Q3 2026Kinder Morgan: net income to operating cash flow, Q3 2026Net income$790MDepreciation & amortization$628MDeferred taxes$194MReceivables−$34.0MInventory−$58.0MPayables$72.0MAccrued liabilities$127MPrepaid and other assets$17.0MIncome taxes payable$73.0MOperating cash flow$1.6B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet 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.

Kinder Morgan: every quarter, Q/Q and Y/Y → Open in the app

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.