KNTKNYSENatural Gas TransmissionFiscal year ends December 31
Kinetik Holdings Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$54.65−0.65 (-1.18%)
Close on Oct 19, 2026
- Market cap
- $4.14B
- P/E (TTM)
- 18.3
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
55.5%−28.7 pts over 5 years
Operating margin
9.3%+258.1 pts over 5 years
Net margin
10.1%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +19.0% | +13.3% | +33.9% | – | |
| Gross profit | +13.5% | +13.3% | +23.2% | – | |
| Operating income | -8.0% | +3.1% | – | – | |
| Net income | +122.8% | – | – | – | |
| EPS, diluted | +157.8% | +21.4% | – | – | |
| Free cash flow | -70.1% | -35.0% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -10.1% | |
| Return on assets | – | – | 2.6% | |
| Current ratio | 0.32 | 1.43 | 0.69 | |
| Debt to equity | – | – | -6.71 | |
| Net debt to EBITDA | – | – | 6.92× | |
| Interest coverage | – | -7.3× | 0.7× | |
| Inventory turnover | – | 17.1× | 191.7× | |
| Capex to revenue | – | 44.2% | 27.9% | |
| Diluted shares | – | 0M | 63M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Kinetik generated $2.67B from operations and spent $2.02B on capital expenditure, dividends and share buybacks. 67% of that went back into the business.
Generated
$2.67B
Used
$2.02B
Capital expenditure$1.35B67%Dividends$489.59M24%Share buybacks$181.76M9%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.1%
×Asset turnover0.25×
×Equity multiplier-3.93×
=Return on equity, FY2025-10.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.1% | 0.25× | -3.93× | -10.1% |
| FY2024 | 5.4% | 0.22× | -3.80× | -4.6% |
| FY2023 | 23.0% | 0.20× | -9.06× | -42.2% |
| FY2017 | -1.2% | 0.04× | 1.15× | -0.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$178.26M
- Cash generatingOperating cash flow above zero$604.12M
- Return on assets improvedROA up on the prior year1.2% → 2.6%
- Earnings backed by cashOperating cash flow above net income$604.12M vs $178.26M
- Less leverageLong-term debt to assets fell49.4% → 51.1%
- Better liquidityCurrent ratio rose0.70 → 0.69
- No dilutionShare count did not rise60M → 63M
- Gross margin improvedGross margin up on the prior year58.15% → 55.45%
- More efficientAsset turnover rose0.23 → 0.26