Kinder Morgan Inc (KMI)

Debt-to-equity 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-equity ratio		0.93	0.92	0.94	0.95	0.92	0.95	0.93	0.94	1.00	0.98	1.01	0.97	1.02	1.03	0.99	0.95	0.95	0.95	0.98	0.99

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $28,067,000K ÷ $30,306,000K
= 0.93

The debt-to-equity ratio of Kinder Morgan Inc has been relatively stable over the past eight quarters, ranging from 1.02 to 1.06. This indicates that the company has been maintaining a moderate level of debt compared to its equity during this period. A ratio above 1 suggests that the company relies more on debt financing than equity, which may indicate higher financial leverage and potential risk. However, the consistency of the ratio around 1.03 to 1.05 suggests that Kinder Morgan Inc has been managing its debt levels consistently and not significantly increasing its financial risk over the analyzed period. Further analysis of the company's overall financial health and industry benchmarks would provide a more comprehensive understanding of its debt management strategies.