Tearsheet

Kinetik (KNTK)

Market Price (12/28/2025): $35.17 | Market Cap: $2.2 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Kinetik (KNTK)

Market Price (12/28/2025): $35.17
Market Cap: $2.2 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 10%, FCF Yield is 6.2%	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -38%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%	Key risks KNTK key risks include [1] its high financial leverage and [2] operational execution failures, Show more.
2	Low stock price volatility Vol 12M is 41%
3	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 8.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 10%, FCF Yield is 6.2%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37%
2	Low stock price volatility Vol 12M is 41%
3	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.
4	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -38%
5	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192%
7	Key risks KNTK key risks include [1] its high financial leverage and [2] operational execution failures, Show more.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022	2021
Share Price CYE	$35.17	$52.97	$28.93	$26.09	$22.76
Market Cap CYE ($ Bil)	2.2	3.2	1.6	1.2	0.9
Total Debt ($ Bil)	4.2	3.5	3.6	3.4	2.4
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	6.4	6.7	5.2	4.6	3.3
Valuation Ratios
P/S TTM	1.3	2.3	1.4	1.1	1.7
P/EBIT TTM	6.1	7.0	4.9	3.5	10.8
P/E TTM	17.3	13.8	4.5	10.2	781.7
P/FCF TTM	15.9	9.3	6.8	3.5	7.6
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.6	1.3	1.3
P/EBIT TTM (Sector)	7.7	6.7	5.7	4.1	4.7
P/E TTM (Sector)	11.3	10.3	8.5	5.6	5.4
P/FCF TTM (Sector)	7.1	7.0	7.6	5.0	5.4

	12/28/25	2024	2023
Share Price CYE	$35.17	$52.97	$28.93
Market Cap CYE ($ Bil)	2.2	3.2	1.6
Total Debt ($ Bil)	4.2	3.5	3.6
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	6.4	6.7	5.2
Valuation Ratios
P/S TTM	1.3	2.3	1.4
P/EBIT TTM	6.1	7.0	4.9
P/E TTM	17.3	13.8	4.5
P/FCF TTM	15.9	9.3	6.8
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.6
P/EBIT TTM (Sector)	7.7	6.7	5.7
P/E TTM (Sector)	11.3	10.3	8.5
P/FCF TTM (Sector)	7.1	7.0	7.6

	KNTK	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	1.7
Rev Chg Q	17.1%	7.3%
Rev Chg LTM	18.9%	6.1%
Rev Chg 3Y Avg	15.2%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.6
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	8.1%	18.8%
CFO/Rev LTM	37.1%	20.4%
Net Inc Mgn	7.3%	13.1%
VALUATION	MODERATE
P/S	1.3	3.3
P/CFO	3.4	15.8
P/FCF	15.9	20.7
P/E	17.3	23.7
STABILITY	VERY POOR
Debt/Equity	1.94	0.21
Cash/Assets	0.00	0.07

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Metric	Value	Date	Source
Gas Processed Volumes	1.80 Bcf/d	3312025	Link
Operated Pipelines Mileage	over 4,800 miles	9032025	Link
Gas Processing Capacity	2.4 billion cubic feet per day	9032025	Link
Kings Landing Processing Plant Operating Capacity	over 100 million cubic feet per day	11072025	Link
Scope 1 and 2 Greenhouse Gas Emissions Reduction (vs. 2021 baseline)	14%	12312024	Link
Methane Emissions Reduction (vs. 2021 baseline)	50%	12312024	Link

Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -

KNTK Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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For the period from August 31, 2025, to December 28, 2025, Kinetik (KNTK) experienced a stock price decline of 13.6% due to several key factors:

1. Kinetik reported weaker-than-expected financial results for the third quarter of 2025 and subsequently revised its full-year 2025 financial guidance downwards. The company reported an earnings per share (EPS) of $0.03 for Q3 2025, significantly missing the consensus analyst estimate of $0.23. Following this, Kinetik lowered its 2025 Adjusted EBITDA guidance range to between $965 million and $1.005 billion, a reduction from the previous range of $1.03 billion to $1.09 billion.

2. The Kings Landing Complex experienced a slower-than-expected ramp-up, impacting Q3 2025 performance. Although the Kings Landing Complex achieved full commercial in-service in late September 2025, the delayed start-up and lower-than-expected volumes in August and September negatively affected Kinetik's third-quarter results.

3. Kinetik faced significant commodity price headwinds and production curtailments in the Permian Basin. The company's performance was impacted by ongoing weakness in crude oil pricing and highly negative short-term Waha natural gas prices, which led to producer development delays and existing production curtailments from crude-focused customers.

4. Multiple analyst firms reduced their price targets for Kinetik following the Q3 earnings report and revised outlook. RBC Capital lowered its price target to $46.00 from $52.00, Goldman Sachs reduced its target to $40.00 from $46.00, and Wolfe Research adjusted its target to $42.00 from $45.00. Citigroup also lowered its price objective from $55.00 to $46.00. These downgrades reflect a less optimistic outlook on the company's future performance.

5. The divestiture of Kinetik's equity interest in EPIC Crude Holdings, LP, while a strategic move, also contributed to the adjustment of 2025 financial guidance. Kinetik closed the sale of its 27.5% non-operated equity interest in EPIC Crude in October 2025. This sale was factored into the revised 2025 Adjusted EBITDA guidance.

Stock Movement Drivers

Fundamental Drivers

The -20.7% change in KNTK stock from 9/27/2025 to 12/27/2025 was primarily driven by a -37.7% change in the company's Net Income Margin (%).

	9272025	12272025	Change
Stock Price ($)	44.72	35.46	-20.70%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1652.08	1719.69	4.09%
Net Income Margin (%)	11.72%	7.29%	-37.73%
P/E Multiple	14.26	17.49	22.63%
Shares Outstanding (Mil)	61.72	61.87	-0.23%
Cumulative Contribution			-20.70%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
KNTK	-20.7%
Market (SPY)	4.3%	31.3%
Sector (XLE)	-3.9%	64.2%

Fundamental Drivers

The -16.5% change in KNTK stock from 6/28/2025 to 12/27/2025 was primarily driven by a -49.3% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	42.48	35.46	-16.53%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1584.80	1719.69	8.51%
Net Income Margin (%)	14.39%	7.29%	-49.31%
P/E Multiple	11.21	17.49	56.05%
Shares Outstanding (Mil)	60.16	61.87	-2.83%
Cumulative Contribution			-16.60%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
KNTK	-16.5%
Market (SPY)	12.6%	29.2%
Sector (XLE)	4.5%	55.8%

Fundamental Drivers

The -32.7% change in KNTK stock from 12/27/2024 to 12/27/2025 was primarily driven by a -78.7% change in the company's Net Income Margin (%).

	12272024	12272025	Change
Stock Price ($)	52.69	35.46	-32.71%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1446.08	1719.69	18.92%
Net Income Margin (%)	34.26%	7.29%	-78.70%
P/E Multiple	6.36	17.49	174.85%
Shares Outstanding (Mil)	59.81	61.87	-3.44%
Cumulative Contribution			-32.78%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
KNTK	-32.7%
Market (SPY)	17.0%	53.3%
Sector (XLE)	7.1%	63.4%

Fundamental Drivers

The 39.0% change in KNTK stock from 12/28/2022 to 12/27/2025 was primarily driven by a 52.2% change in the company's Total Revenues ($ Mil).

	12282022	12272025	Change
Stock Price ($)	25.51	35.46	38.98%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1129.59	1719.69	52.24%
Net Income Margin (%)	7.18%	7.29%	1.57%
P/E Multiple	13.15	17.49	32.97%
Shares Outstanding (Mil)	41.82	61.87	-47.95%
Cumulative Contribution			7.03%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
KNTK	21.5%
Market (SPY)	48.0%	48.1%
Sector (XLE)	11.4%	58.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
KNTK Return	-17%	42%	15%	11%	83%	-33%	85%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
KNTK Win Rate	33%	58%	50%	50%	75%	42%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
KNTK Max Drawdown	-83%	-3%	-0%	-13%	-4%	-40%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	KNTK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-35.4%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	54.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	513 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-83.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	502.1%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	144 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-83.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	509.5%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Kinetik's stock fell -35.4% during the 2022 Inflation Shock from a high on 6/8/2022. A -35.4% loss requires a 54.9% gain to breakeven.

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About Kinetik (KNTK)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Kinetik Holdings Inc. operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

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A regional Kinder Morgan, focused on the Permian Basin.
The Permian Basin's version of Enterprise Products Partners.

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Natural Gas Gathering & Processing: Services for collecting raw natural gas from production wells and processing it to pipeline-quality specifications, separating out valuable natural gas liquids (NGLs).
Crude Oil Gathering: Transportation services for collecting crude oil from production sites and moving it to larger pipeline systems or storage facilities.
Water Gathering & Disposal: Services for collecting and safely disposing of produced water, a byproduct of oil and gas operations.
NGL Transportation: Services for transporting separated natural gas liquids (NGLs) from processing plants to market hubs.

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Kinetik (symbol: KNTK) primarily sells its services to other companies, specifically to upstream oil and natural gas producers operating in the Delaware Basin. As an integrated energy midstream company, Kinetik provides natural gas gathering, processing, and transportation services, as well as crude oil and water gathering services. Here are some of its major customer companies:

ExxonMobil Corporation (Symbol: XOM)
Apache Corporation (Symbol: APA)
Permian Resources Corporation (Symbol: PR)

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Jamie Welch, President & Chief Executive Officer

Mr. Welch has served as the Chief Executive Officer, President, and a member of the Board of Directors of Kinetik since February 2022. Before this, he was President, CEO, and CFO of BCP Raptor Holdco GP, LLC, the general partner of BCP, a position he held from May 2021. He also served as President and CEO of EagleClaw Midstream Ventures LLC from 2019. Mr. Welch was the Group Chief Financial Officer and Head of Business Development for the Energy Transfer Equity, L.P. family from June 2013 to February 2016, and served on their Board of Directors. Prior to that, he was Head of the EMEA Investment Banking Department and Head of the Global Energy Group at Credit Suisse, having joined Credit Suisse First Boston in 1997 from Lehman Brothers Inc. where he was a Senior Vice President in the global utilities and project finance group. Mr. Welch has served as a Senior Advisor to Blackstone Energy Partners since July 2016, indicating a pattern of involvement with private equity-backed entities.

Trevor Howard, Senior Vice President & Chief Financial Officer

Mr. Howard was promoted to Senior Vice President and Chief Financial Officer of Kinetik in August 2023. He joined Kinetik in March 2020 as Vice President of Finance, overseeing corporate forecasting and the company's financing activities. Before joining Kinetik, Mr. Howard was an Investment Professional at Glenview Capital Management's long/short equities group and a Senior Associate at Blackstone's private equity group. In his role at Blackstone, he was responsible for the structuring, monitoring, and exiting of investments, demonstrating a pattern of managing companies backed by private equity firms and involvement in company sales. He began his career as an Analyst at Barclays in their Investment Banking Global Natural Resources group.

Matt Wall, Executive Vice President & Chief Operating Officer

Mr. Wall has served as Kinetik's Chief Operating Officer since the closing of the merger between EagleClaw Midstream and Altus Midstream. He joined BCP GP in July 2017 as Vice President, Operations and was appointed Chief Operating Officer in May 2019. His industry experience is focused on midstream gas gathering/processing design and commissioning, and operational support engineering. Mr. Wall's previous roles include Manager of Engineering at Aka Energy Group LLC, Senior Process Engineer at BCCK Engineering, Project Engineer at Southern Union Gas Services, and Well Services Engineer at Schlumberger.

Steve Stellato, Executive Vice President, Chief Administrative Officer & Chief Accounting Officer

Mr. Stellato has served as Kinetik's Executive Vice President, Chief Administrative Officer, and Chief Accounting Officer since the closing of the merger between EagleClaw Midstream and Altus Midstream. He held the same position at BCP GP prior to the merger. In this capacity, he is responsible for various functions including Accounting, Tax, and Insurance/Risk Management. Mr. Stellato possesses extensive experience in leading teams across accounting, finance, treasury, tax, and mergers and acquisitions.

Lindsay Ellis, General Counsel, Chief Compliance Officer & Corporate Secretary

Ms. Ellis has served as Kinetik's General Counsel, Chief Compliance Officer, and Corporate Secretary since February 2025. She previously served as Deputy General Counsel and Corporate Secretary from 2022 to February 2025, and as Associate General Counsel at BCP Raptor Holdco GP, LLC, the general partner of BCP, from 2019 to 2021. From 2021 to 2022, Ms. Ellis served as the General Counsel and Secretary of Archaea Energy Inc.

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Key Risks to Kinetik (KNTK)

Commodity Price Sensitivity: Kinetik's revenue is highly dependent on the volatile prices of natural gas and crude oil. A sustained decrease in these commodity prices could lead to producers delaying drilling, thereby reducing the demand for Kinetik's midstream services and negatively impacting its revenue.
High Financial Leverage: The company operates with a significant amount of debt, with a reported leverage ratio of 3.4x and $3.73 billion in net debt as of July 2025. This high financial leverage strains Kinetik's ability to withstand declines in commodity prices or delays in production, amplifying overall risk to the business.
Operational Execution and Project Delays: Kinetik faces risks associated with the timely and cost-effective execution of its projects, such as the Kings Landing Complex. Delays or cost overruns in these critical projects can destabilize cash flows, potentially jeopardizing dividends and shareholder value. The company has already experienced operational hiccups and delays at the Kings Landing project, leading to a cut in its 2025 EBITDA guidance.

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Kinetik (KNTK) operates primarily in the Permian Basin, specifically within the Delaware Basin in West Texas and New Mexico, providing midstream energy services.

The addressable markets for their main products and services in this region are sizable:

Produced Water Gathering and Disposal: The market for produced water disposal and treatment in the Permian Basin alone is approximately $12 billion. The overall U.S. oilfield water management market is valued at around $37.5 billion. The Permian Basin is projected to account for approximately $101.8 billion of the U.S. midstream water spend from 2025 to 2030, representing nearly two-thirds of the total U.S. market value.
Natural Gas Gathering, Compression, Processing, and Treating: The Permian Basin is experiencing significant growth in natural gas processing capacity. By the end of 2026, forecasts indicate an additional 5.2 billion cubic feet per day (Bcf/d) of gas processing capacity compared to 2024. To meet the projected demand growth, approximately 10 Bcf/d of additional processing capacity is needed in the Permian, with over 5.5 Bcf/d already sanctioned.
Natural Gas Pipeline Transportation: Several new natural gas pipeline projects are increasing takeaway capacity from the Permian Basin to demand centers. The Matterhorn Express Pipeline (2.5 Bcf/d) was expected to begin service in Q3 2024, and other announced projects like Apex Pipeline (2.0 Bcf/d by 2026), Blackcomb Pipeline (2.5 Bcf/d by 2026), and Saguaro Connector Pipeline (2.8 Bcf/d between 2025 and 2028) will further expand capacity. In total, three new Permian Basin pipeline projects with a combined capacity of 7.3 Bcf/d have been approved.

Information on the specific addressable market size for crude oil gathering, stabilization, and storage within the Permian Basin was not explicitly quantified in the search results as a standalone market value. Therefore, it is not possible to provide a specific market size for this product line.

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Here are 3-5 expected drivers of future revenue growth for Kinetik (KNTK) over the next 2-3 years:

Increased Processing Capacity and Infrastructure Expansion: Kinetik anticipates significant revenue growth from the full in-service and ramp-up of its Kings Landing processing plant, which is expected to drive material processed gas volume growth into 2026. Additionally, the construction of the new ECCC Pipeline, connecting Eddy County, New Mexico, and Culberson County, Texas, is poised to boost the company's processing capabilities and operational flexibility.
Strategic Acquisitions and Enhanced Customer Relationships: The company's strategic acquisitions, such as the Durango acquisition and the bolt-on acquisition of natural gas and crude oil gathering systems in Reeves County, Texas (Barilla Draw), are expected to expand Kinetik's operations and increase processing capacity. Kinetik is also focused on expanding its relationship with Permian Resources, anticipating attractive volume growth due to long-term development plans.
New Revenue Streams from Sustainability Initiatives: Kinetik's commitment to sustainability is expected to generate new revenue. The approval of the MRV Plan from the EPA for three acid gas injection wells will enhance sustainability efforts and create new revenue opportunities through 45Q credits, with economic benefits projected from 2025.
Organic Volume Growth in the Permian Basin: Operating as a pure-play Permian-to-Gulf Coast midstream corporation in the Delaware Basin, Kinetik is positioned for organic growth. The company's strong organic backlog and continuous commercial opportunities with both new and existing customers, particularly within the highly active Permian Basin, are expected to contribute to material processed gas volume growth.

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Share Repurchases

In February 2023, Kinetik's Board of Directors authorized a share repurchase program of up to $100.0 million.
This program was increased by $400.0 million in May 2025, bringing the total authorized amount to $500.0 million.
Year-to-date through October 31, 2025, the company repurchased $176 million of Class A common stock, including $100 million in Q3 2025.

Share Issuance

The 2024 Durango acquisition was partly financed by issuing 3.8 million new shares at closing, with an additional 7.7 million shares expected to be issued in July 2025.
As of September 30, 2025, there were 64.1 million shares of Class A Common Stock and 97.6 million shares of Class C Common Stock issued and outstanding.

Outbound Investments

In 2024, Kinetik acquired and began integrating the Durango Midstream assets for an initial consideration of $765 million, with a contingent payment of $75 million.
In January 2025, Kinetik completed the $175.5 million Barilla Draw bolt-on acquisition.
In October 2025, Kinetik divested its 27.5% equity interest in EPIC Crude Holdings, LP for over $500 million in net upfront cash, plus a potential $96 million contingent payment.

Capital Expenditures

Kinetik's capital expenditures for the full year 2022 were $284.0 million.
For the nine months ended September 30, 2025, capital expenditures totaled $358.354 million.
The company's revised capital guidance for the full year 2025 is between $485 million and $515 million, primarily focused on strategic infrastructure projects such as the Kings Landing Complex and the ECCC Pipeline.

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TRP (24.5%)

TC Energy

CCJ (23.9%)

Cameco

Higher Rev Chg 3Y Avg (Value for KNTK: 15.2%)

PR (48.7%)

Permian Resources

UEC (46.2%)

Uranium Energy

CCJ (24.2%)

Cameco

FANG (20.8%)

Diamondback Energy

OKE (16.4%)

ONEOK

Higher Op Mgn LTM (Value for KNTK: 8.1%)

WMB (34.3%)

Williams Companies

COP (21.0%)

ConocoPhillips

CNQ (20.3%)

Canadian Natural Resources

ENB (17.4%)

Enbridge

XOM (11.0%)

Exxon Mobil

Higher CFO/Rev LTM (Value for KNTK: 37.1%)

FANG (57.3%)

Diamondback Energy

TRP (51.4%)

TC Energy

WMB (48.2%)

Williams Companies

EOG (45.2%)

EOG Resources

OXY (42.3%)

Occidental Petroleum

Higher FCF/Rev LTM (Value for KNTK: 7.9%)

CNQ (18.2%)

Canadian Natural Resources

KMI (16.8%)

Kinder Morgan

WMB (15.0%)

Williams Companies

COP (11.9%)

ConocoPhillips

CVX (8.2%)

Chevron

Higher Total Yield (Value for KNTK: 14.4%)

CNQ (16.7%)

Canadian Natural Resources

VG (16.6%)

Venture Global

SU (15.4%)

Suncor Energy

PBA (15.4%)

Pembina Pipeline

DVN (14.9%)

Devon Energy

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for KNTK: 15.2% | 1.3x)

SLF (88.9% | 1.0x)

Sun Life Financial

SW (55.9% | 0.6x)

Smurfit WestRock

SMCI (63.1% | 0.9x)

Super Micro Computer

MTZ (17.8% | 1.3x)

MasTec

LTM (17.3% | 1.1x)

LATAM Airlines

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KNTK: 15.2% | 15.7x)

NEM (23.9% | 12.4x)

Newmont

APO (89.3% | 10.8x)

Apollo Asset Management

CP (22.2% | 12.2x)

Canadian Pacific Kansas City

AU (30.1% | 13.5x)

Anglogold Ashanti

CCL (45.9% | 9.4x)

Carnival

Higher Rev Chg LTM (Value for KNTK: 18.9%)

NVDA (65.2%)

NVIDIA

PLTR (47.2%)

Palantir Technologies

LLY (36.8%)

Eli Lilly

AVGO (23.9%)

Broadcom

META (21.3%)

Meta Platforms

Higher Rev Chg 3Y Avg (Value for KNTK: 15.2%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

LLY (23.4%)

Eli Lilly

BRK-B (19.8%)

Berkshire Hathaway

META (17.3%)

Meta Platforms

Higher Op Mgn LTM (Value for KNTK: 8.1%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for KNTK: 37.1%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

AVGO (43.1%)

Broadcom

GOOGL (39.3%)

Alphabet

Higher FCF/Rev LTM (Value for KNTK: 7.9%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for KNTK: 14.4%)

CMCSA (25.2%)

Comcast

FNMA (23.7%)

Federal National Mortgage Association Fannie Mae

VZ (18.3%)

Verizon Communications

MO (16.2%)

Altria

TDG (15.4%)

TransDigm

		Best Bets In Energy Sector
	KNTK	TPL	AM	MGY	INSW	DTM	CTRA	WHD	EQT	WMB	EOG
What You Pay
P/E	17.5	41.6	17.9	11.7	11.0	30.4	12.0	18.3	18.9	30.7	10.1
P/EBIT	6.2	33.9	10.1	8.7	9.4	17.0	8.8	12.3	10.8	15.7	7.7
What You Get
Rev Chg Q	17.1%	17.0%	8.7%	-2.5%	-12.8%	26.6%	33.7%	-10.0%	49.8%	10.2%	-2.3%
Rev Chg LTM	18.9%	12.5%	8.7%	0.7%	-23.6%	20.4%	25.1%	-3.8%	64.8%	9.0%	-5.0%
Rev Chg 3Y Avg	15.2%	5.7%	9.0%	-6.6%	16.7%	9.6%	-5.3%	22.9%	-2.8%	0.8%	-7.6%
FCF/Rev 3Y Avg	19.9%	47.9%	46.6%	33.7%	29.6%	25.8%	24.8%	23.5%	23.5%	22.5%	22.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Kinetik Earnings Notes
2	Kinetik Earnings Notes
3	With Kinetik Stock Sliding, Have You Assessed The Risk?	Return
4	Kinetik vs Newmont: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	Kinetik vs ONEOK: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	How Does Kinetik Stock Stack Up Against Its Peers?	Peer Comparison
7	Better Bet Than KNTK Stock: Pay Less Than Kinetik To Get More From CALM, PTCT
8	Why Kinetik Stock Moved: KNTK Stock Has Gained 48% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
9	KNTK Dip Buy Analysis
10	Kinetik (KNTK) Valuation Ratios Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to KNTK. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	12.1%	12.1%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	6.4%	6.4%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.4%	5.4%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	28.1%	28.1%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.9%	-4.9%	-7.1%
KNTK_5312025_Dip_Buyer_ValueBuy	05312025	KNTK	Kinetik	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-19.1%	-17.3%	-26.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Kinetik

Peers to compare with:

Financials

	KNTK	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Kinetik	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	35.46	23.26	24.49	305.09	78.16	273.40	56.81
Mkt Cap	2.2	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	1,720	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	140	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	136	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	278	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	638	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	625	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	KNTK	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Kinetik	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	18.9%	3.2%	13.8%	4.5%	8.9%	6.0%	7.4%
Rev Chg 3Y Avg	15.2%	-3.9%	6.5%	2.6%	3.7%	1.8%	3.2%
Rev Chg Q	17.1%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	4.1%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	8.1%	6.6%	4.8%	17.7%	22.5%	31.9%	12.9%
Op Mgn 3Y Avg	12.3%	7.4%	7.2%	16.4%	24.2%	30.8%	14.3%
QoQ Delta Op Mgn LTM	-3.5%	-0.2%	-1.4%	0.6%	0.4%	0.1%	-0.1%
CFO/Rev LTM	37.1%	6.7%	8.5%	20.6%	23.8%	26.6%	22.2%
CFO/Rev 3Y Avg	43.5%	6.8%	12.7%	21.4%	26.1%	28.4%	23.8%
FCF/Rev LTM	7.9%	5.1%	1.8%	18.1%	22.1%	23.5%	13.0%
FCF/Rev 3Y Avg	19.9%	5.5%	4.6%	18.6%	24.6%	25.6%	19.3%

Valuation

	KNTK	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Kinetik	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	2.2	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	1.3	0.4	1.0	4.4	5.4	10.0	2.8
P/EBIT	6.2	6.8	19.9	25.1	22.5	31.3	21.2
P/E	17.5	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	3.4	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	14.4%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	8.7%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	11.9%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	1.9	0.5	0.7	0.2	0.1	0.0	0.4
Net D/E	1.9	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	KNTK	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Kinetik	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	4.7%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.7%
3M Rtn	-20.7%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-16.5%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-32.7%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	39.0%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	3.9%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	-25.0%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-28.8%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-49.8%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-37.9%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Kinetik Stock Stack Up Against Its Peers?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	3/3/2025	3/5/2024	3/7/2023	3/5/2024	1/12/2022	1/12/2022
Key Financials
Total Revenue	1,720	1,483	1,256	1,213	662	410	379
EBITDA	724	801	634	653	351	-807	196
Operating Income	140	183	179	163	54	-6	-11
Net Income	125	244	386	136	1	-1,156	-144
EPS	0.42	1.03	5.25	1.47	0.00	0.00	-3.82
Growth Rates
Total Revenue Growth	18.9%	18.0%	3.5%	83.3%	61.4%	8.3%	-33.7%
EBITDA Growth	-12.4%	26.3%	-2.9%	86.2%	143.5%	-511.7%	115.5%
Operating Income Growth	-36.3%	2.6%	9.5%	202.7%	962.5%	40.5%	60.2%
Net Income Growth	-74.7%	-36.8%	185.2%	9044.3%	100.1%	-700.2%	-32.5%
Margins
EBITDA Margin	42.1%	54.0%	50.5%	53.8%	53.0%	-196.9%	51.8%
Operating Income Margin	8.1%	12.4%	14.2%	13.4%	8.1%	-1.5%	-2.8%
Net Income Margin	7.3%	16.5%	30.8%	11.2%	0.2%	-281.8%	-38.1%
Cash & Debt
Total Cash	8	4	5	6	19	20	50
Total Debt	4,219	3,534	3,601	3,397	2,369	2,394	2,212
Net Debt / (Cash)	4,212	3,531	3,597	3,391	2,351	2,374	2,161
Cash Flows
Net Cash from Operations	638	637	584	613	236	102	45
Free Cash from Operations	136	361	255	391	153	-97	-312
Returns to Shareholders
Dividends	190	175	81	41	-0	-0	289
Share Repurchases	100	-0	6	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/8/2025	5/8/2025	3/3/2025	11/8/2024	8/9/2024	5/9/2024	3/5/2024	11/9/2023	8/8/2023	5/4/2023	3/7/2023
Key Financials Quarterly
Total Revenue	464	427	443	386	396	359	341	349	330	296	281	295
Ebitda	172	230	168	154	244	245	159	179	158	156	141	172
Operating Income	20	77	19	24	73	57	30	60	41	50	27	45
Net Income	16	74	19	16	84	109	35	267	43	72	4	48
EPS	0.03	0.33	0.05	0.01	0.35	0.54	0.12	1.70	0.21	0.41	-0.06	0.26
Key Financials TTM
Total Revenue TTM	1,720	1,652	1,585	1,483	1,446	1,380	1,317	1,256	1,203	1,198	1,237	1,213
Ebitda TTM	724	796	811	801	827	741	651	634	627	624	688	653
Operating Income TTM	140	193	172	183	220	188	182	179	163	172	171	163
Net Income TTM	125	194	228	244	495	455	418	386	168	173	123	136
Growth Rates Quarterly
Total Revenue Growth	17.1%	18.7%	29.8%	10.6%	20.0%	21.4%	21.5%	18.1%	1.6%	-11.7%	9.2%	39.7%
EBITDA Growth	-29.4%	-6.3%	6.1%	-14.1%	54.3%	57.2%	12.2%	4.2%	2.0%	-29.2%	32.8%	83.6%
Operating Income Growth	-72.8%	37.0%	-36.4%	-60.9%	76.3%	14.0%	10.6%	34.1%	-16.9%	0.9%	42.7%	762.8%
Net Income Growth	-81.4%	-31.7%	-45.6%	-93.9%	94.0%	52.0%	723.6%	451.7%	-11.5%	226.6%	-73.8%	917.5%
Margins Quarterly
EBITDA Margin	37.0%	53.9%	38.0%	39.8%	61.5%	68.3%	46.4%	51.3%	47.8%	52.7%	50.3%	58.1%
Operating Income Margin	4.3%	18.1%	4.3%	6.1%	18.4%	15.7%	8.9%	17.3%	12.5%	16.7%	9.7%	15.2%
Net Income Margin	3.4%	17.4%	4.3%	4.2%	21.1%	30.3%	10.4%	76.6%	13.1%	24.2%	1.5%	16.4%
Cash & Debt
Total Cash	8	11	9	4	20	13	10	5	0	2	2	6
Total Debt	4,219	4,007	3,753	3,534	3,468	3,455	3,545	3,601	3,656	3,685	3,577	3,397
Net Debt / (Cash)	4,212	3,996	3,744	3,531	3,448	3,443	3,535	3,597	3,656	3,683	3,575	3,391
Cash Flows Quarterly
FCF from Operations	188	129	177	144	214	126	154	179	175	111	120	160
Cash Flows TTM
FCF from Operations TTM	638	664	660	637	672	633	619	584	565	575	634	613
Returns to Shareholders Quarterly
Dividends	49	48	47	47	45	45	39	23	22	19	17	15
Share Repurchases	100	-0	-0	-0	-0	-0	-0	-0	-0	3	2	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	1.7%	6.8%	1.8%	2.4%	7.7%	6.1%	3.1%	6.4%	4.3%	5.4%	2.6%	5.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.9%	4.2%	4.1%	4.7%	6.4%	5.5%	5.1%	4.7%	4.3%	4.6%	4.5%	4.6%

Segment Financials

Assets by Segment

$ Mil	2024	2023
Midstream Logistics	3,773	3,487
Pipeline Transportation	2,704	2,415
Corporate and Other	21	18
Total	6,497	5,920

Price Behavior

Price Behavior

Market Price	$35.46
Market Cap ($ Bil)	2.2
First Trading Date	05/02/2017
Distance from 52W High	-42.9%
	50 Days	200 Days
DMA Price	$35.58	$40.44
DMA Trend	down	down
Distance from DMA	-0.3%	-12.3%
	3M	1YR
Volatility	45.3%	41.2%
Downside Capture	146.87	120.12
Upside Capture	5.73	62.25
Correlation (SPY)	30.7%	53.2%

KNTK Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.59	1.15	1.10	1.07	1.12	1.01
Up Beta	-0.40	1.18	1.66	1.55	0.94	0.86
Down Beta	4.73	2.28	2.46	2.06	1.75	1.44
Up Capture	109%	-10%	-17%	7%	41%	64%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	17	30	58	120	389
Down Capture	193%	129%	82%	96%	109%	98%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	25	33	67	127	357

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of KNTK With Other Asset Classes (Last 1Y)
	KNTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-34.3%	8.6%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	40.9%	24.4%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-0.92	0.29	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		63.4%	53.3%	2.3%	44.6%	39.7%	18.8%

ETFs used for asset classes: Sector ETF = XLE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of KNTK With Other Asset Classes (Last 5Y)
	KNTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	17.6%	21.8%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	39.7%	26.7%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.53	0.75	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		57.0%	37.5%	11.7%	41.3%	31.6%	15.4%

Based On 10-Year Data

		Comparison of KNTK With Other Asset Classes (Last 10Y)
	KNTK	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-6.9%	8.2%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	90.2%	29.8%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.18	0.33	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		32.7%	25.7%	4.6%	22.3%	19.9%	11.0%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	8,018,232
Short Interest: % Change Since 11302025	17.7%
Average Daily Volume	1,263,551
Days-to-Cover Short Interest	6.35
Basic Shares Quantity	61,866,000
Short % of Basic Shares	13.0%

Returns Analyses

	Title
0	With Kinetik Stock Sliding, Have You Assessed The Risk?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	1.9%	-4.1%	8.3%
8/7/2025	-0.6%	-1.5%	0.1%
2/27/2025	4.1%	-8.7%	-8.5%
11/6/2024	7.5%	6.2%	10.9%
8/7/2024	2.8%	4.7%	9.6%
5/9/2024	2.4%	3.1%	4.5%
2/29/2024	0.3%	-0.2%	11.4%
11/8/2023	-2.1%	2.2%	0.4%
...
SUMMARY STATS
# Positive	15	11	15
# Negative	7	11	7
Median Positive	0.6%	4.7%	6.9%
Median Negative	-2.1%	-4.0%	-6.5%
Max Positive	204.5%	234.7%	395.1%
Max Negative	-11.1%	-12.8%	-51.9%

	Forward Returns
11/6/2025	1.9%	-4.1%	8.3%
8/7/2025	-0.6%	-1.5%	0.1%
2/27/2025	4.1%	-8.7%	-8.5%
11/6/2024	7.5%	6.2%	10.9%
8/7/2024	2.8%	4.7%	9.6%
5/9/2024	2.4%	3.1%	4.5%
2/29/2024	0.3%	-0.2%	11.4%
11/8/2023	-2.1%	2.2%	0.4%
8/8/2023	0.3%	2.9%	-1.8%
2/28/2023	-0.5%	6.0%	3.8%
11/10/2022	0.4%	-3.7%	-6.5%
8/10/2022	0.1%	-0.1%	-3.8%
5/11/2022	0.6%	10.8%	16.1%
2/22/2022	0.0%	3.5%	0.0%
11/4/2021	0.1%	0.9%	6.9%
8/5/2021	-0.9%	7.0%	1.5%
5/6/2021	-5.3%	-7.5%	1.8%
2/25/2021	0.4%	-4.0%	-4.2%
11/5/2020	204.5%	234.7%	395.1%
7/30/2020	-5.2%	-2.7%	-11.1%
5/7/2020	5.2%	-12.8%	53.4%
2/27/2020	-11.1%	-4.3%	-51.9%
SUMMARY STATS
# Positive	15	11	15
# Negative	7	11	7
Median Positive	0.6%	4.7%	6.9%
Median Negative	-2.1%	-4.0%	-6.5%
Max Positive	204.5%	234.7%	395.1%
Max Negative	-11.1%	-12.8%	-51.9%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/30/2025
6302025	8082025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	3032025	10-K 12/31/2024
9302024	11082024	10-Q 9/30/2024
6302024	8092024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	3052024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	3072023	10-K 12/31/2022
9302022	11092022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5102022	10-Q 3/31/2022
12312020	1122022	DEFM14A 12/31/2020

Insider Activity

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External Quote Links

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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Kinetik (KNTK)

Market Price (12/28/2025): $35.17 | Market Cap: $2.2 BilSector: Energy | Industry: Oil & Gas Storage & Transportation

Kinetik (KNTK)

Market Price (12/28/2025): $35.17Market Cap: $2.2 BilSector: EnergyIndustry: Oil & Gas Storage & Transportation

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

KNTK Stock

Why The Stock Moved

Qualitative Assessment

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About Kinetik (KNTK)

Key Risks to Kinetik (KNTK)

Interactive Breakdown

Better Bets than Kinetik (KNTK)

INDUSTRY: Oil & Gas Storage & Transportation

Higher Rev Chg 3Y Avg | Lower P/S (Values for KNTK: 15.2% | 1.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KNTK: 15.2% | 15.7x)

Higher Rev Chg LTM (Value for KNTK: 18.9%)

Higher Rev Chg 3Y Avg (Value for KNTK: 15.2%)

Higher Op Mgn LTM (Value for KNTK: 8.1%)

Higher CFO/Rev LTM (Value for KNTK: 37.1%)

Higher FCF/Rev LTM (Value for KNTK: 7.9%)

Higher Total Yield (Value for KNTK: 14.4%)

SECTOR: Energy

Higher Rev Chg 3Y Avg | Lower P/S (Values for KNTK: 15.2% | 1.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KNTK: 15.2% | 15.7x)

Higher Rev Chg LTM (Value for KNTK: 18.9%)

Higher Rev Chg 3Y Avg (Value for KNTK: 15.2%)

Higher Op Mgn LTM (Value for KNTK: 8.1%)

Higher CFO/Rev LTM (Value for KNTK: 37.1%)

Higher FCF/Rev LTM (Value for KNTK: 7.9%)

Higher Total Yield (Value for KNTK: 14.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for KNTK: 15.2% | 1.3x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KNTK: 15.2% | 15.7x)

Higher Rev Chg LTM (Value for KNTK: 18.9%)

Higher Rev Chg 3Y Avg (Value for KNTK: 15.2%)

Higher Op Mgn LTM (Value for KNTK: 8.1%)

Higher CFO/Rev LTM (Value for KNTK: 37.1%)

Higher FCF/Rev LTM (Value for KNTK: 7.9%)

Higher Total Yield (Value for KNTK: 14.4%)

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Market Price (12/28/2025): $35.17 | Market Cap: $2.2 Bil
Sector: Energy | Industry: Oil & Gas Storage & Transportation

Market Price (12/28/2025): $35.17
Market Cap: $2.2 Bil
Sector: Energy
Industry: Oil & Gas Storage & Transportation