Kinetik Holdings Inc. (KNTK) Stock

Kinetik Holdings Inc. (KNTK) is a Utilities stock trading at $54.37 (as of 2026-08-20), with a market capitalization of $4.12B and a trailing P/E of 22.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Kinetik Holdings Inc. operates as a midstream company in the Texas Delaware Basin, providing gathering, transportation, compression, processing, and treating services. These services support producers of natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

Understand Kinetik Holdings Inc.: how it makes money

Kinetik Holdings provides midstream services in the Texas Delaware Basin, including gathering, transportation, compression, processing, and treating natural gas, natural gas liquids, crude oil, and water, and it makes money by earning revenue from product-related and service-related activities.

Because Kinetik is a midstream provider, its profit engine is the cash generation from charging for logistics and pipeline services (gathering, transporting, compressing, processing, and treating), which makes segment performance and utilization central to results.

Revenue by segment (latest quarter)
Products$0.3B
Services$0.1B

Business quality (Weak): Revenue breakdown is available as Product Revenue and Service Revenues, and key operating performance metrics are provided at the segment level using adjusted earnings before interest, taxes, depreciation, and amortization measures.

Valuation: At 20× earnings, KNTK trades 10% below the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Midstream service footprint in a defined producing basin: The company operates as a midstream provider in the Texas Delaware Basin, offering gathering, transportation, compression, processing, and treating services for producers of natural gas, natural gas liquids, crude oil, and water.
  • Segment-level adjusted operating metrics are tracked: Investors can monitor segment-level adjusted earnings before interest, taxes, depreciation, and amortization, including a dedicated Midstream Logistics figure.

Bear case

  • Operating losses: Latest period operating margin is negative (operating_margin_pct is -0.9).
  • Business results depend on third-party activity levels: As a service provider to companies that produce natural gas, NGLs, crude oil, and water, earnings performance is exposed to changes in customer production and throughput that affect the use of its gathering, transportation, and processing assets.
Valuation — source: SEC EDGAR (first-party)
Price$54.37
Market Cap$4.12B
P/E Ratio22.5
EV / EBITDA13.4
Price / Sales2.19
FCF Yield3.8%
DCF Value (model)$236.02
DCF Upside vs Price334.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.76B
Net Margin10.1%
Revenue Growth (YoY)36.3%
EPS Growth (YoY)97.0%
FCF Growth (YoY)2808.3%
Financial Health — source: SEC EDGAR
Altman Z-Score0.41 (distress)
Valuation vs Sector & Industry
Stock P/E22.5
Sector P/E (Utilities)21.3
Industry P/E (Utilities)20.6
vs Sector5.4%
vs Industry9.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackstone Inc. ($576.99M)
Institutional Holders Tracked10
Company
SectorUtilities
IndustryUtilities
CEOJamie W. Welch
Employees460
CountryUS
IPO Date2018-11-13

Related Companies (Business model: Refining & Midstream Energy; 8 closest by market cap; US-domiciled)

  • Enterprise Products Partners L.P. (EPD)
  • Kinder Morgan, Inc. (KMI)
  • Targa Resources Corp. (TRGP)
  • DT Midstream, Inc. (DTM)
  • Antero Midstream Corporation (AM)
  • Kodiak Gas Services, Inc. (KGS)
  • Archrock, Inc. (AROC)
  • Summit Midstream Corp. (SMC)
KNTK earnings history · KNTK institutional & insider holders · KNTK KPIs & operating metrics · KNTK financials · KNTK investor presentations & press releases · KNTK SEC filings · KNTK peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.