Kinder Morgan, Inc.

DB:2KD Stock Report

Market Cap: €59.1b

Kinder Morgan Valuation

Is 2KD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2KD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2KD (€26.54) is trading above our estimate of fair value (€19.71)

Significantly Below Fair Value: 2KD is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2KD?

Key metric: As 2KD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2KD. This is calculated by dividing 2KD's market cap by their current earnings.
What is 2KD's PE Ratio?
PE Ratio24.7x
EarningsUS$2.53b
Market CapUS$62.36b

Price to Earnings Ratio vs Peers

How does 2KD's PE Ratio compare to its peers?

The above table shows the PE ratio for 2KD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.5x
VH2 Friedrich Vorwerk Group
19.4x12.9%€546.0m
WMB Williams Companies
24.6x3.3%US$71.2b
OKE ONEOK
23.5x12.0%US$66.3b
ET Energy Transfer
14.5x13.1%US$65.7b
2KD Kinder Morgan
24.7x8.1%€62.4b

Price-To-Earnings vs Peers: 2KD is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the peer average (20.5x).

Price to Earnings Ratio vs Industry

How does 2KD's PE Ratio compare vs other companies in the European Oil and Gas Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2KD 24.7xIndustry Avg. 9.0xNo. of Companies16PE0612182430+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2KD is expensive based on its Price-To-Earnings Ratio (24.7x) compared to the European Oil and Gas industry average (9x).

Price to Earnings Ratio vs Fair Ratio

What is 2KD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2KD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio24.7x
Fair PE Ratio26.4x

Price-To-Earnings vs Fair Ratio: 2KD is good value based on its Price-To-Earnings Ratio (24.7x) compared to the estimated Fair Price-To-Earnings Ratio (26.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2KD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€26.58
€24.72
-7.0%
11.3%€31.50€21.00n/a16
Nov ’25€22.11
€22.72
+2.8%
8.1%€26.66€20.23n/a16
Oct ’25€19.57
€20.24
+3.4%
5.8%€22.45€17.06n/a15
Sep ’25€19.42
€19.99
+2.9%
5.7%€21.50€17.02n/a16
Aug ’25€19.46
€20.33
+4.4%
5.6%€22.17€17.55n/a16
Jul ’25€18.40
€19.56
+6.3%
6.3%€22.35€17.69n/a16
Jun ’25€17.86
€18.97
+6.2%
5.8%€20.27€16.58n/a17
May ’25€17.17
€19.00
+10.7%
5.3%€20.52€16.79n/a19
Apr ’25€16.94
€18.76
+10.7%
7.0%€21.22€15.68n/a18
Mar ’25€16.06
€18.97
+18.1%
7.3%€21.28€15.73n/a18
Feb ’25€15.57
€18.98
+21.9%
6.9%€21.24€15.70n/a18
Jan ’25€15.81
€18.91
+19.6%
6.8%€21.30€15.75n/a19
Dec ’24€15.90
€18.59
+16.9%
7.6%€21.09€15.59n/a19
Nov ’24€15.42
€19.11
+23.9%
7.3%€20.84€16.10€22.1119
Oct ’24€15.61
€18.46
+18.2%
7.4%€20.92€15.91€19.5718
Sep ’24€15.81
€18.46
+16.7%
7.4%€20.92€15.91€19.4218
Aug ’24€15.88
€18.46
+16.2%
7.4%€20.92€15.91€19.4618
Jul ’24€15.73
€18.45
+17.2%
7.3%€21.02€16.00€18.4019
Jun ’24€15.11
€18.26
+20.9%
7.3%€20.87€15.88€17.8619
May ’24€15.54
€18.26
+17.5%
7.3%€20.87€15.88€17.1719
Apr ’24€16.07
€18.91
+17.7%
7.8%€22.51€16.41€16.9421
Mar ’24€16.18
€18.91
+16.9%
7.8%€22.51€16.41€16.0621
Feb ’24€16.73
€18.42
+10.1%
7.8%€22.08€16.10€15.5720
Jan ’24€16.75
€18.72
+11.8%
8.3%€22.78€16.61€15.8120
Dec ’23€18.20
€18.98
+4.3%
8.5%€23.05€16.81€15.9019
Nov ’23€17.51
€19.89
+13.6%
8.6%€24.09€17.56€15.4219

Analyst Forecast: Target price is lower than the current share price.

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