Kinder Morgan Inc (KMI)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	28,067,000	27,871,000	28,632,000	29,346,000	28,403,000	29,107,000	28,552,000	28,759,000	30,674,000	30,002,000	31,077,000	31,061,000	32,131,000	32,660,000	31,441,000	31,405,000	31,915,000	32,111,000	33,005,000	33,328,000
Total stockholders’ equity	US$ in thousands	30,306,000	30,258,000	30,569,000	30,757,000	30,742,000	30,756,000	30,545,000	30,618,000	30,823,000	30,552,000	30,711,000	32,187,000	31,436,000	31,559,000	31,753,000	33,106,000	33,742,000	33,633,000	33,638,000	33,612,000
Debt-to-capital ratio		0.48	0.48	0.48	0.49	0.48	0.49	0.48	0.48	0.50	0.50	0.50	0.49	0.51	0.51	0.50	0.49	0.49	0.49	0.50	0.50

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $28,067,000K ÷ ($28,067,000K + $30,306,000K)
= 0.48

Based on the provided data, Kinder Morgan Inc's debt-to-capital ratio has remained consistent at 0.51 for each quarter from Q1 2022 to Q4 2023.

A debt-to-capital ratio of 0.51 indicates that the company's total debt represents 51% of its total capital, which includes both debt and equity. This suggests that Kinder Morgan Inc relies moderately on debt financing to fund its operations and investments, while also having a significant portion of its capital sourced from equity.

The stability of the debt-to-capital ratio over multiple quarters indicates that the company has been able to maintain a consistent balance between debt and equity in its capital structure. This can be seen as a positive sign of financial health and risk management, as drastic fluctuations in this ratio could indicate instability or an unsustainable financial structure.

Going forward, it would be important for Kinder Morgan Inc to continue monitoring and managing its debt levels relative to its capital to ensure that it remains within manageable limits and supports the company's long-term financial stability and growth.