Kinder Morgan Inc (KMI)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 3,106,000 | 3,258,000 | 2,153,000 | 600,000 | 3,116,000 |
| Revenue | US$ in thousands | 15,334,000 | 19,200,000 | 16,610,000 | 11,700,000 | 13,209,000 |
| Pretax margin | 20.26% | 16.97% | 12.96% | 5.13% | 23.59% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $3,106,000K ÷ $15,334,000K
= 20.26%
The pretax margin of Kinder Morgan Inc has displayed fluctuations over the past five years. The company's pretax margin has been on an upward trend from 2019 to 2023, except for a slight decrease in 2022. In 2019, the pretax margin was at a relatively high level of 23.96%, but then dropped to 5.65% in 2020.
Since 2020, the company has shown significant improvement in its profitability, with the pretax margin increasing to 20.88% in 2023, indicating that Kinder Morgan Inc has been able to generate more earnings before taxes for each dollar of revenue. This demonstrates the company's ability to effectively manage its operating expenses and generate higher profitability over the years.
Peer comparison
Dec 31, 2023