Kinetik Holdings Inc. (KNTK) Financial Statements (2026 and earlier)
Company Profile
| Business Address |
2700 POST OAK BLVD. HOUSTON, TX 77056 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4922 - Natural Gas Transmission (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,606 | 4,510 | 6,394 | 131,963 | 24,188 | 5,983 | |||
| Cash and cash equivalent | 3,606 | 4,510 | 6,394 | 131,963 | 24,188 | 5,983 | |||
| Receivables | 111,940 | 215,721 | 204,036 | 23,592 | 11,824 | 15,461 | |||
| Inventory, net of allowances, customer advances and progress billings | 3,600 | 3,100 | 4,800 | 2,958 | 3,597 | 4,027 | |||
| Inventory | 3,600 | 3,100 | 4,800 | 2,958 | 3,597 | 4,027 | |||
| Contract with customer, asset, after allowance for credit loss | 2,249 | 1,033 | |||||||
| Derivative instruments and hedges, assets | 2,308 | 7,812 | 6,963 | ||||||
| Other undisclosed current assets | 173,305 | 26,156 | 19,674 | 5,866 | 2,127 | 6,266 | |||
| Total current assets: | 294,759 | 257,299 | 241,867 | 166,628 | 42,769 | 31,737 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 29,814 | 37,569 | 28,551 | ||||||
| Property, plant and equipment | 3,433,864 | 2,743,227 | 2,535,212 | 186,987 | 195,836 | 205,802 | |||
| Long-term investments and receivables | 2,117,878 | 2,540,989 | 2,381,340 | ||||||
| Long-term investments | 2,117,878 | 2,540,989 | 2,381,340 | ||||||
| Intangible assets, net (including goodwill) | 657,567 | 596,747 | 700,466 | ||||||
| Goodwill | 5,077 | 5,077 | 5,077 | ||||||
| Intangible assets, net (excluding goodwill) | 652,490 | 591,670 | 695,389 | ||||||
| Derivative instruments and hedges | 65 | 165 | |||||||
| Regulated entity, other noncurrent assets | 26,200 | 31,500 | 26,500 | ||||||
| Deferred income tax assets | 203,996 | 235,627 | |||||||
| Other noncurrent assets | 200 | 1,371,055 | 1,561,025 | 1,263,315 | |||||
| Other undisclosed noncurrent assets | 50,594 | 53,750 | 5,775 | ||||||
| Total noncurrent assets: | 6,520,178 | 6,239,574 | 5,677,844 | 1,558,042 | 1,756,861 | 1,469,117 | |||
| TOTAL ASSETS: | 6,814,937 | 6,496,873 | 5,919,711 | 1,724,670 | 1,799,630 | 1,500,854 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 213,953 | 211,421 | 191,813 | ||||||
| Accounts payable | 27,239 | 34,000 | 17,899 | ||||||
| Accrued liabilities | 186,714 | 177,421 | 173,914 | ||||||
| Deferred revenue | 5,680 | 6,477 | 6,607 | ||||||
| Debt | 140,200 | 9,767 | |||||||
| Derivative instruments and hedges, liabilities | 10,011 | 1,734 | 5,718 | ||||||
| Other liabilities | 35,689 | 7,786 | 7,487 | 15,682 | 5,613 | 23,925 | |||
| Due to related parties | ✕ | ✕ | ✕ | 18,750 | |||||
| Other undisclosed current liabilities | 13,021 | 22,726 | 16,203 | 11,562 | 5,620 | ||||
| Total current liabilities: | 418,554 | 250,144 | 227,828 | 27,244 | 29,983 | 33,692 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 3,363,996 | 3,562,809 | 3,368,510 | ||||||
| Other undisclosed long-term debt and lease obligation | 3,363,996 | 3,562,809 | 3,368,510 | ||||||
| Liabilities, other than long-term debt | 53,321 | 56,936 | 50,739 | 135,344 | 208,610 | 167,638 | |||
| Deferred revenue | 20,985 | 25,761 | 22,693 | ||||||
| Asset retirement obligations | 68,331 | 64,062 | 60,095 | ||||||
| Deferred income tax liabilities | 16,761 | 13,244 | 11,018 | ||||||
| Other liabilities | 2,148 | 3,219 | 2,677 | 10,118 | 5,539 | 4,614 | |||
| Operating lease, liability | 11,490 | 9,349 | 6,023 | ||||||
| Derivative instruments and hedges, liabilities | 1,937 | 5,363 | 8,328 | 56,895 | 139,009 | 102,929 | |||
| Other undisclosed noncurrent liabilities | 657,000 | 624,000 | |||||||
| Total noncurrent liabilities: | 3,417,317 | 3,619,745 | 3,419,249 | 792,344 | 832,610 | 167,638 | |||
| Other undisclosed liabilities | 396,000 | ||||||||
| Total liabilities: | 3,835,871 | 3,869,889 | 3,647,077 | 819,588 | 862,593 | 597,330 | |||
| Temporary equity, including noncontrolling interest | 5,955,662 | 3,157,807 | 3,112,409 | 769,900 | 575,100 | 701,000 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (2,976,596) | (530,823) | (839,775) | (577,249) | (246,469) | (353,075) | |||
| Additional paid in capital | 192,678 | 118,840 | 144,716 | 39,792 | |||||
| Accumulated other comprehensive loss | (145) | (266) | |||||||
| Accumulated deficit | (2,976,612) | (723,516) | (958,629) | (577,251) | (391,042) | (392,633) | |||
| Other undisclosed equity, attributable to parent | 16 | 15 | 14 | 2 | 2 | 32 | |||
| Other undisclosed equity | 712,431 | 608,406 | 555,599 | ||||||
| Total equity: | (2,976,596) | (530,823) | (839,775) | 135,182 | 361,937 | 202,524 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,814,937 | 6,496,873 | 5,919,711 | 1,724,670 | 1,799,630 | 1,500,854 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,482,929 | 1,256,412 | 1,213,490 | 160,617 | 148,409 | 135,798 | ||
| Cost of revenue | (1,083,012) | (696,029) | (698,133) | (74,946) | (66,880) | (108,041) | ||
| Cost of product and service sold | (620,618) | (515,721) | (541,518) | (55,858) | ||||
| Gross profit: | 399,917 | 560,383 | 515,357 | 85,671 | 81,529 | 27,757 | ||
| Operating expenses | (220,684) | (401,128) | (364,868) | (20,059) | (19,913) | (1,313,548) | ||
| Operating income (loss): | 179,233 | 159,255 | 150,489 | 65,612 | 61,616 | (1,285,791) | ||
| Nonoperating income (expense) | 88,035 | (5,711) | 102,848 | 44,207 | 20,362 | 13,583 | ||
| Investment income, nonoperating | 89,802 | |||||||
| Other nonoperating income (expense) | 12,574 | (2,306) | (622) | |||||
| Interest and debt expense | (218,118) | (217,930) | (142,430) | (9,431) | (9,775) | (6,384) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 7,585 | 4,592 | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 49,150 | (64,386) | 110,907 | 100,388 | 79,788 | (1,274,000) | ||
| Income from equity method investments | 58,739 | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | 218,118 | 217,930 | 142,430 | (1,167) | ||||
| Income (loss) from continuing operations before income taxes: | 267,268 | 153,544 | 253,337 | 99,221 | 138,527 | (1,274,000) | ||
| Income tax expense (benefit) | (23,035) | 232,908 | (2,616) | 696 | (64,900) | |||
| Income (loss) from continuing operations: | 244,233 | 386,452 | 250,721 | 99,221 | 139,223 | (1,338,900) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 99,221 | 139,223 | (1,338,900) | |
| Other undisclosed net loss | (58,739) | |||||||
| Net income (loss): | 244,233 | 386,452 | 250,721 | 99,221 | 80,484 | (1,338,900) | ||
| Net income (loss) attributable to noncontrolling interest | (164,219) | (97,010) | (209,986) | (113,165) | (78,893) | 969,230 | ||
| Other undisclosed net loss attributable to parent | ||||||||
| Net income (loss) attributable to parent: | 80,014 | 289,442 | 40,735 | (13,944) | 1,591 | (369,670) | ||
| Other undisclosed net income available to common stockholders, basic | ||||||||
| Net income (loss) available to common stockholders, basic: | 80,014 | 289,442 | 40,735 | (13,944) | 1,591 | (369,670) | ||
| Dilutive securities, effect on basic earnings per share | (48,741) | 2,987 | ||||||
| Other undisclosed net income (loss) available to common stockholders, diluted | (18,829) | 79,604 | ||||||
| Net income (loss) available to common stockholders, diluted: | 61,185 | 369,046 | 40,735 | (62,685) | 4,578 | (369,670) | ||
Comprehensive Income ($ in thousands)
| 9/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 244,233 | 386,452 | 250,721 | 99,221 | 80,484 | (1,338,900) | ||
| Other comprehensive loss | (266) | |||||||
| Other undisclosed comprehensive income (loss) | 630 | 523 | (886) | |||||
| Comprehensive income (loss): | 244,233 | 386,452 | 250,721 | 99,851 | 81,007 | (1,340,052) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (113,650) | 970,116 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 244,233 | 386,452 | 250,721 | (13,799) | 81,007 | (369,936) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.