KNTK on NYSE

Kinetik Holdings Inc.

American natural gas transmission company based in Houston, active since 2018.

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Last updated Oct 18, 2026.

Overview

$1.8BRevenue, fiscal 20252
$178.3MNet income, fiscal 20252

Compare with Archrock, Inc., Kodiak Gas Services, Inc. or DT Midstream, Inc., or pick any stock.

  • TickerKNTK on NYSE
  • IndustryNatural Gas Transmission
  • HeadquartersHouston, United States
  • Incorporated inDE3
  • Business address2700 Post Oak Blvd., Suite 300, Houston, Tx 770563
  • Filer categoryLarge accelerated filer3

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.3%Operating margin2
10.1%Net margin2
19.0%Revenue growth, 20252
$111.6MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Natural Gas, NGLs and Condensate Sales brought in 74% of the revenue Kinetik Holdings Inc. broke down this way in fiscal 2025.

  1. Natural Gas, NGLs and Condensate Sales$1.3B274%up 23% from 2024
  2. Gathering and Processing Services$445.5M225%up 9% from 2024
  3. Product and Service, Other$11.7M21%down 2% from 2024
  4. Minimum Volume Commitments$2.0M20%up 1900% from 2024
Products and services by year
Products and services202320242025
Natural Gas, NGLs and Condensate Sales$822.4M$1.1B$1.3B
Gathering and Processing Services$417.8M$408.0M$445.5M
Product and Service, Other$16.3M$11.9M$11.7M
Minimum Volume Commitments$1.6M$100.0K$2.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs87¢$1.5B
  • Income tax3¢$50.7M
  • Profit10¢$178.3M

Out of $1.8B in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending57¢$492.5M
  • Dividends paid22¢$193.7M
  • Share buybacks20¢$176.0M

Out of $604.1M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue456782$1.8B in 2025+2199% since 2018
0$500.0M$1.0B$1.5B$2.0B2018: $76.8M$76.8M20182019: $135.8M$135.8M2019+77%2020: $410.2M$410.2M2020+202%2021: $662.0M$662.0M2021+61%2022: $1.2B$1.2B2022+83%2023: $1.3B$1.3B2023+4%2024: $1.5B$1.5B2024+18%2025: $1.8B$1.8B2025+19%
Operating income456782$164.9M in 2025
-$1.5B-$1.0B-$500.0M0$500.0M2018: -$12.2M-$12.2M20182019: -$1.3B-$1.3B2019+10404%2020: -$1.0B-$1.0B2020−21%2021: $53.5M$53.5M20212022: $150.5M$150.5M2022+181%2023: $159.3M$159.3M2023+6%2024: $179.2M$179.2M2024+13%2025: $164.9M$164.9M2025−8%
Net income456782$178.3M in 2025
-$1.5B-$1.0B-$500.0M0$500.0M2018: -$239.0K-$239.0K20182019: -$1.3B-$1.3B2019+555431%2020: -$1.2B-$1.2B2020−13%2021: $1.5M$1.5M20212022: $250.7M$250.7M2022+16818%2023: $289.4M$289.4M2023+15%2024: $80.0M$80.0M2024−72%2025: $178.3M$178.3M2025+123%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Total revenues$1.8B$1.5B$1.3B
Costs of sales (excluding depreciation and amortization expenses)$785.9M$620.6M$515.7M
Operating expenses$271.4M$196.0M$161.5M
Ad valorem taxes$28.9M$24.7M$21.6M
General and administrative expenses$130.6M$134.2M$97.9M
Depreciation and amortization expenses$382.6M$324.2M$281.0M
Loss on disposal of assets, net$8.0K$4.0M$19.4M
Total operating costs and expenses$1.6B$1.3B$1.1B
Operating income$164.9M$179.2M$159.3M
Interest and other income$4.0M$2.8M$2.0M
Loss on debt extinguishment-$635.0K-$525.0K-$1.9M
Gain on sale of equity method investment$415.4M$89.8M$0
Interest expense-$233.4M-$217.2M-$205.9M
Equity in earnings of unconsolidated affiliates$226.4M$213.2M$200.0M
Total other income (expense), net$411.7M$88.0M-$5.7M
Income before income taxes$576.7M$267.3M$153.5M
Income tax expense (benefit)$50.7M$23.0M-$232.9M
Net income including noncontrolling interest$525.9M$244.2M$386.5M
Net income attributable to Common Unit limited partners$347.7M$164.2M$97.0M
Net income attributable to holders of Class A Common Stock$178.3M$80.0M$289.4M
Basic (in USD per share)$2.66$1.03$5.25
Diluted (in USD per share)$2.63$1.02$2.52
Basic (in shares)62.0M shares59.3M shares51.8M shares
Diluted (in shares)62.7M shares60.1M shares146.2M shares

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Leadership

Who has led Kinetik Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Robert S. Purgason2017
  2. Brian W. Freed2018
  3. D. Clay Bretches2019–2022

Chief financial officer

  1. Terry A. Hart2017–2018
  2. Ben C. Rodgers2018
  3. Trevor Howard2024

Chief operating officer

  1. Matthew Wall2022–2023
20202025
Board members and other officers (36)

Former names

  • Altus Midstream CoSep 21, 2018 to Feb 22, 20223
  • Kayne Anderson Acquisition CorpJan 26, 2017 to Nov 13, 20183

Timeline

  1. Jan 24, 2019New chief executive D. Clay Bretches becomes CEO15
  2. Nov 19, 2018New chief executive Brian W. Freed becomes CEO16
  3. Aug 3, 2018Founded Kinetik Holdings Inc. is founded54
  4. Mar 29, 2017New chief executive Robert S. Purgason becomes CEO17

Filings

510 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 65 major events, 245 insider forms, 44 large holders, 135 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13D/A EDGAR
  2. Oct 15, 20264 EDGAR
  3. Oct 13, 2026144 EDGAR
  4. Oct 13, 20264 EDGAR
  5. Oct 13, 2026144 EDGAR
  6. Oct 9, 2026144 EDGAR
  7. Oct 8, 2026144 EDGAR
  8. Oct 7, 20264 EDGAR
  9. Oct 7, 2026144 EDGAR
  10. Oct 6, 2026144 EDGAR
  11. Oct 5, 2026144 EDGAR
  12. Sep 24, 2026SD EDGAR
  13. Sep 24, 20264 EDGAR
  14. Sep 23, 2026144 EDGAR
  15. Sep 22, 2026144 EDGAR
  16. Sep 21, 2026SCHEDULE 13D/A EDGAR
  17. Sep 21, 20264 EDGAR
  18. Sep 21, 2026144 EDGAR
  19. Sep 18, 2026144 EDGAR
  20. Sep 17, 2026144 EDGAR

The 510 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 44 such filings since October 2021, the latest 10:

  1. Oct 15, 2026SCHEDULE 13D/A
  2. Sep 21, 2026SCHEDULE 13D/A
  3. Aug 19, 2026SCHEDULE 13D/A
  4. Aug 11, 2026SCHEDULE 13G/A
  5. May 14, 2026SCHEDULE 13G/A
  6. May 4, 2026SCHEDULE 13D/A
  7. Mar 27, 2026SCHEDULE 13G/A
  8. Mar 2, 2026SCHEDULE 13D/A
  9. Oct 31, 2025SCHEDULE 13G/A
  10. Aug 14, 2025SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Blackstone Inc.11,918,786$576.2M1.9%No change
BlackRock, Inc.8,595,744$415.5M0.0%+1,585,075
Goldman Sachs Group Inc4,260,188$205.9M0.0%+369,079
Vanguard Portfolio Management LLC3,242,907$156.8M0.0%+389,926
Vanguard Capital Management LLC2,408,767$116.4M0.0%+292,381
State Street Corp1,998,756$96.6M0.0%+286,476
Citadel Advisors LLC1,835,829$88.7M0.1%+129,095
Invesco Ltd.1,834,178$88.7M0.0%+33,380
CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT1,752,000$84.7M3.8%−122,000
Clearbridge Investments, LLC1,419,099$68.6M0.1%+21,170
Geode Capital Management, LLC1,327,945$64.2M0.0%+217,218
Neuberger Berman Group LLC1,256,175$60.8M0.0%−788,063
Principal Financial Group Inc1,188,389$57.4M0.0%+168,232
UBS Group AG1,155,740$55.9M0.0%−708,943
Yaupon Capital Management LP1,002,184$48.4M1.6%New
Bank Of America Corp /de/1,001,272$48.4M0.0%+145,602
Barclays PLC978,263$47.3M0.0%+596,506
Zimmer Partners, LP838,050$40.5M1.0%+704,900
Nomura Asset Management International Inc.824,217$39.8M0.1%−25,753
RR Advisors, LLC797,999$38.6M11.2%+220,063
Dimensional Fund Advisors LP723,002$35.0M0.0%+35,449
Advisors Capital Management, LLC689,811$33.3M0.4%+23,827
Citigroup Inc658,818$31.8M0.0%+115,290
Ameriprise Financial Inc651,900$31.5M0.0%+79,969
Westwood Holdings Group Inc630,237$30.5M0.2%+24,325

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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