Kinder Morgan Inc (KMI)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	28,067,000	28,403,000	30,674,000	32,131,000	31,915,000
Total assets	US$ in thousands	71,020,000	70,078,000	70,416,000	71,973,000	74,157,000
Debt-to-assets ratio		0.40	0.41	0.44	0.45	0.43

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $28,067,000K ÷ $71,020,000K
= 0.40

The debt-to-assets ratio of Kinder Morgan Inc has remained relatively stable over the past five years, ranging between 0.45 and 0.48. This ratio indicates that, on average, 45% to 48% of Kinder Morgan's total assets are financed through debt.

A ratio of less than 1 suggests that the company relies more on equity financing rather than debt to fund its operations and investments. Kinder Morgan's consistent debt-to-assets ratio over the years indicates a relatively conservative approach to leveraging debt for its operations.

Overall, the company's debt-to-assets ratio suggests a moderate level of financial risk and a balanced capital structure. Investors and creditors may view this stability positively as it indicates a prudent approach to managing debt obligations in relation to the company's total assets.