Kinder Morgan, Inc. (KMI) vs Targa Resources Corp. (TRGP)
A side-by-side comparison of Kinder Morgan, Inc. and Targa Resources Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
KMI
Kinder Morgan, Inc.
$31.73EnergyDelayed quote: Sep 21, 2026, 3:10 PM EDT
TRGP
Targa Resources Corp.
$290.54EnergyDelayed quote: Sep 21, 2026, 3:10 PM EDT
Total return — KMI vs TRGP
growth of $100 · dividends reinvested · last 10yKMI +129.7% (+8.7%/yr)TRGP +808.2% (+24.7%/yr)TRGP compounded faster over this window
KMI TRGP
KMI vs TRGP: by the numbers
- •KMI is the larger company ($70.65B vs $62.36B market cap).
- •KMI trades at the lower trailing earnings multiple (20.34 vs 27.67 P/E), one valuation lens rather than an overall verdict.
- •KMI converts more revenue to profit (19.31% vs 13.49% net margin).
- •TRGP grew revenue faster over the past five years (6.56% vs 3.56% CAGR).
- •KMI pays the higher dividend yield (3.82% vs 1.55%).
Metrics side by side
Valuation
| Metric | KMI | TRGP |
|---|---|---|
| P/E ratio | 20.34 | 27.67 |
| Forward P/E | 20.74 | 25.76 |
| P/S ratio | 3.93 | 3.71 |
| P/B ratio | 2.23 | 17.05 |
| EV / EBITDA | 13.36 | 14.88 |
| FCF yield | 5.47% | 1.19% |
Profitability
| Metric | KMI | TRGP |
|---|---|---|
| Gross margin | 43.66% | 26.51% |
| Operating margin | 29.04% | 23.13% |
| Net margin | 19.31% | 13.49% |
| ROE | 10.96% | 61.94% |
| ROIC | 5.72% | 14.09% |
Dividends
| Metric | KMI | TRGP |
|---|---|---|
| Dividend yield | 3.82% | 1.55% |
| Payout ratio | 75.64% | 42.86% |
Growth (annualized)
| Metric | KMI | TRGP |
|---|---|---|
| Revenue CAGR (5Y) | 3.56% | 6.56% |
| EPS CAGR (5Y) | 96.49% | N/A |
| FCF CAGR (5Y) | 2.53% | -16.03% |
| Total return CAGR (5Y) | 20.42% | 49.25% |
Frequently asked
- Which has the lower trailing P/E, KMI or TRGP?
- KMI has the lower trailing P/E: KMI trades at 20.34 and TRGP at 27.67. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, KMI or TRGP?
- Over the past five years, TRGP grew revenue faster — KMI at a 3.56% CAGR versus TRGP at 6.56%.
- Does KMI or TRGP pay a bigger dividend?
- KMI yields 3.82% and TRGP yields 1.55% based on trailing dividends and the latest price.
- Is KMI or TRGP more profitable?
- KMI runs the higher net margin — KMI at 19.31% versus TRGP at 13.49%.
- How have KMI and TRGP total returns compared?
- Over the past 10 years, KMI delivered 8.80% and TRGP delivered 25.16% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Kinder Morgan P/E ratioTarga Resources P/E ratioKinder Morgan dividend yieldTarga Resources dividend yieldKinder Morgan ROETarga Resources ROEKinder Morgan operating marginTarga Resources operating marginKinder Morgan revenue growthTarga Resources revenue growthKinder Morgan free cash flowTarga Resources free cash flow
Kinder Morgan & Targa Resources appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.