The Discounted Cash Flow (DCF) valuation of Kinder Morgan Inc (KMI) is 31.25 USD. With the latest stock price at 27.84 USD, the upside of Kinder Morgan Inc based on DCF is 12.2%.

Is KMI a buy or a sell?

Based on the latest price of 27.84 USD and our DCF valuation, Kinder Morgan Inc (KMI) is a buy. Buying KMI stocks now will result in a potential gain of 12.2%.

	Range	Selected
WACC / Discount Rate	6.2% - 8.2%	7.2%
Long-term Growth Rate	2.0% - 4.0%	3.0%
Fair Price	17.66 - 68.67	31.25
Upside	-36.6% - 146.7%	12.2%

27.84 USD

Stock Price

31.25 USD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

KMI DCF Valuation: Revenue & Expenses Forecast

(USD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	15,100	15,879	16,668	17,001	17,341	18,237
% Growth	2%	5%	5%	2%	2%	5%

Cost of goods sold	(7,309)	(7,533)	(7,749)	(7,745)	(7,742)	(7,979)
% of Revenue	48%	47%	46%	46%	45%	44%

Selling, G&A expenses	(1,145)	(1,204)	(1,264)	(1,289)	(1,315)	(1,383)
% of Revenue	8%	8%	8%	8%	8%	8%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(3,239)	(3,406)	(3,575)	(3,647)	(3,720)	(3,912)
% of Revenue	21%	21%	21%	21%	21%	21%

Tax expense	(687)	(795)	(869)	(920)	(972)	(1,057)
Tax rate	20%	21%	21%	21%	21%	21%

Net profit	2,720	2,941	3,212	3,400	3,593	3,906
% Margin	18%	19%	19%	20%	21%	21%