Pulling SEC filings + quote and writing the call…

Kinetik Holdings Inc.
Next earnings Aug 4, 2026 (after close) · consensus $0.23 EPS, $447M rev
Last earnings +0.6% on 2026-05-07
Permian-focused midstream growing revenue ~19% with a fat, rising dividend; negative book equity is a structural artifact, not distress.
Sources: SEC EDGAR (CIK 0001692787, latest 10-Q filed 2026-05-08) · EODHD · analysis by claude-code · as of 6/21/2026, 8:53:24 PM.
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Quality fundamentals and an attractive price line up (~105% below fair value) — the rarer case where both the business and the entry look good.
Kinetik is a Permian Basin midstream operator (Midstream Logistics and Pipeline Transportation segments) executing a capital-heavy growth phase. FY2025 revenue grew 19.0% to $1.76B, continuing a steep ramp from $662M in FY2021, and net income more than doubled to $178M (diluted EPS $2.63, +157.8%). The growth is being funded by aggressive capex — up 86.9% to $492M — to expand gathering, processing and pipeline capacity tied to rising Permian gas and NGL volumes. Operating cash flow remained robust at $604M, comfortably covering both the $194M dividend (+10.6%) and $176M of buybacks.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $662M | $1.21B | $1.26B | $1.48B | $1.76B |
| Gross profit | — | — | — | — | — |
| Operating income | $53.5M | $150M | $159M | $179M | $165M |
| Net income | — | — | $289M | $80.0M | $178M |
| Diluted EPS | $0.00 | $1.47 | $2.52 | $1.02 | $2.63 |
| Net margin | — | — | 23.0% | 5.4% | 10.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1071 tracked peers · median
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Last 90 days: 0 open-market buys · 6 sales
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| 2026-05-19 | ORDEMANN WILLIAM Director | Award | 3.10K | |
| 2026-05-19 | LELAND D MARK Director | Award | 3.10K | |
| 2026-05-19 | McCarthy Kevin S Director | Award | 3.10K | |
| 2026-05-19 | SUGG LAURA A Director | Award | 3.10K | |
| 2026-05-19 | Byers Deborah L Director | Award | 3.10K | |
| 2026-05-19 | Byers Deborah L Director | Award | 206.00 | |
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