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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (53596)3/15/2014 5:53:36 AM
From: bruwin  Read Replies (1) of 78717
 
Interesting call on KMI.

Looking at 2012 and 2013 Annuals, Revenue is up by ~41%, and there's a healthy EBITDA Margin of ~40%.
Attributable Net Income is up from ~3.2% to ~8.5%.

However, what's your take on the relatively large increase in KMI's Long Term Debt(LTD) ?
It's up from $32000 mil. to $33887 mil. in the last 12 months.
KMI's average LTD from 2009 to 2011 was about $13800 mil. It made a very large jump to $32000 mil. during 2012.

Its Interest Expense is about 30% of EBITDA value and about 42% of Operating Income Value.
No doubt its Bottom Line would look a fair bit better without that debt.

Would you say that that debt will be beneficial to KMI's longer term business performance ?

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