Kinetik Holdings Inc. (KNTK) is a publicly traded company in the Energy — Oil & Gas Midstream industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Kinetik Holdings Inc. functions as a midstream energy enterprise, primarily operating within the Texas Delaware Basin. It delivers a comprehensive array of services, including the collection, conveyance, pressurization, refining, and conditioning of natural gas, liquid hydrocarbons, crude oil, and produced water, catering to exploration and production companies. The firm's corporate headquarters are situated in Midland, Texas.
Is Kinetik Holdings Inc. stock overvalued or undervalued in 2026?
Kinetik Holdings Inc. (KNTK) trades at 20.5× earnings (P/E), against a median of 15.5× across the 142 energy companies above $2bn in Kaplio's universe. Earnings per share over the last twelve months ($2.76) include about $2.14 of gains from outside the business; without them, they would be around $0.62, and the consensus expects $1.94 for 2027. That is why this range uses expected earnings. No valuation verdict: its last-twelve-month earnings are inflated by a one-off, so its P/E looks lower than it is.
Kaplio overview: Kinetik Holdings Inc.
Market cap $5B · 52 weeks $32 – $58 (3 % below the high) · P/E 20.5× · 2027 est. P/E 29.2× · Dividend 5.7 % · 3 years rising · Next earnings November 4, 2026 · expected EPS $0.40 · Closing price, Oct 30 · accounts published Aug 5.
- Valuation: 2027 est. P/E 29.2× (no verdict).
- Business: 5-year ROIC 2.1 % (weak).
- Balance sheet: Net debt/EBITDA 3.3× (fragile).
- Earnings: 3 of 8 (disappointing).
What would it be worth at its usual multiples?
No valuation verdict: its last-twelve-month earnings are inflated by a one-off, so its P/E looks lower than it is.
Earnings per share over the last twelve months ($2.76) include about $2.14 of gains from outside the business; without them, they would be around $0.62, and the consensus expects $1.94 for 2027. That is why this range uses expected earnings.
Why is Kinetik Holdings Inc.'s P/E so low?
Kinetik Holdings Inc. trades at a P/E of 20.5× on reported earnings, but over the last 12 months 67 % of its pre-tax income ($406M) came from outside the business, such as revaluations or sales of stakes in other companies. It is real money, but it doesn't repeat every year. Without that part, its P/E would be about 91.5×. On analysts' expected earnings for 2027, its P/E is 29.2×. Kaplio's calculation from the official quarterly accounts filed up to the quarter ended June 30, 2026.
| Quarter ended | From the business | Outside the business | Net income |
|---|---|---|---|
| September 30, 2025 | $19.8M | −$3.1M | $15.5M |
| December 31, 2025 | $48.4M | $408M | $417M |
| March 31, 2026 | −$2.0M | ||
| June 30, 2026 | $134M | $3.6M | $49.5M |
What matters in energy: 1 of 6 pass
- 5y avg ROIC 2.1 %, fails.
- Positive FCF through the cycle 5 of 10 fiscal years, fails.
- Dividend coverage (FCF / div) 0.1×, fails.
- Net debt / EBITDA 3.3×, fails.
- Capex / Revenue 30.0 %, fails.
- P/E read in reverse (cyclicals) 20.5×, info.
- FCF yield 9.5 %, passes.
- EV/EBITDA vs own 10y 6.9×, info.
Against its peers (reference peers) — Kinetik Holdings Inc.: P/E 20.5×; EV/EBITDA 14.2×; ROIC 2.7 %; $4.6B. Delek Logistics Partners, LP (P/E 19.5×; EV/EBITDA 12.1×; ROIC 7.7 %; $3.2B), Delek US Holdings, Inc. (P/E 20.7×; EV/EBITDA 6.9×; ROIC 15.0 %; $4.5B), TORM plc (P/E 7.1×; EV/EBITDA 5.6×; ROIC 18.3 %; $4.4B).
Dividend
fragile · Yield 5.7 % ($8.07 per share in 2025) · Years raising it 3 · 5-year growth +13 % a year · Free cash flow coverage 1.0× · With $1,000 invested today you'd collect $57.20 a year ($4.77 a month).
Profitability
| Return on Equity | -36.70% |
| Return on Invested Capital | 2.74% |
| Return on Assets | 6.62% |
| Gross Margin | 40.07% |
| Operating Margin | 10.52% |
| Net Margin | 25.28% |
Financial Health
| Debt / Equity | -3.36 |
| Current Ratio | 0.13 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.45 |
Price Performance
| 1 month | +7.75% |
| 3 months | +16.27% |
| Year-to-date | +57.00% |
| 1 year | +46.97% |
| 3 years | +54.35% |
| 5 years | +78.89% |
Dividend History
Paid in the last 12 months: $3.24 per share in 4 payments.
| Date | Amount |
|---|---|
| October 23, 2026 | $0.81 |
| July 24, 2026 | $0.81 |
| April 24, 2026 | $0.81 |
| February 6, 2026 | $0.81 |
| October 27, 2025 | $0.78 |
| July 25, 2025 | $0.78 |
| April 25, 2025 | $0.78 |
| February 3, 2025 | $0.78 |
| October 28, 2024 | $0.78 |
| July 29, 2024 | $0.75 |
Amounts adjusted for stock splits.
Related companies: PTEN · TRMD · INSW · OII · USAC · SM · DHT · DKL
Explore sector: Energy · Oil & Gas Midstream
More sections of KNTK: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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