Kinetik Holdings Inc. · Natural Gas Transmission

KNTK

Moderate riskNext report: Around Nov 5 (est.)

View price ↗

The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 36% in the latest quarter vs a year ago
Profitable, keeps 30% of sales as profit
Sales up 19% last year

Watch out for

Share count growing 14.6% a year (dilution)

Money moves

Insiders sold $130.3M in the last 30 days
Institutions added 2.1% to their holdings in the quarter ending June 2026 (201 bought, 106 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$55.99+0.5% that day

Company value: $4.2B; Share price times all shares
Price vs profit (P/E): 19.9x; You pay about $20 for each $1 of yearly profit
Price vs sales: 2.3x; Company value is 2.3 times a year of sales
Cash vs value: 0%; Cash as a share of company value
Debt vs value: 86%; Debt as a share of company value

From KNTK's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$581.4M+36% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.9B, up 14% from the 12 months before. Over 5 years, sales grew about 34% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of KNTK. Starting points are the company's recent numbers.

Sales growth+14% a yearRecently: +14% a yearProfit margin29%Last 12 months: 28.8%P/E at the end20xToday: 19.9x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$3.6B

Profit in 5 years$1.1B

Price these guesses point to$172.48+208% vs $55.99 todayAbout +25% a year, before dividends

What today's price needs: with a 29% margin and a 20x P/E, sales could shrink about 9.0% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

2/5Weak

MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.29.8%
MissProfitable every yearSteady profits, not one good year.5 of 9 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$111.6M
MissShare count not growingNot diluting owners. Falling means buybacks.+50.4% in 3 years

Revenue: $1.8B; +19.0% vs prior year
5-year growth: +33.9%/yr; revenue, per year
Total debt: $3.7B
Current ratio: 0.69x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 6

Revenue: $581.4M; +36.3% YoY
EPS: $0.64; vs $0.33
Op. margin: 23.0%; +4.8 pts
Free cash flow: $51.9M
Share count: +21.8%; vs a year ago

Insider rating

Last 90 days

23Selling

1 insider sold $130.3M (not pre-planned)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

18/ 100

This week: 1
Normal week: 5.0
vs normal: 0.2x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+2.1%

Institutions added 2.1% to their holdings. 201 bought, 106 sold. 7 quarters of net buying in a row.

Shares held by institutions71.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+14.4%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

Owes more than it owns

Shares outstandingLatest reported

76M

Why moderate risk

Share count growing 14.4% a year (dilution)

Earnings reports

Last 12

Next reportAround Nov 5 (est.)Estimated from the same quarter last year

Results filedAug 6
Results filedMay 7
Results filedFeb 26
Results filedNov 6, 2025
Results filedAug 7, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (active)Oct 15 · View filing ↗Activist 5%+ holder update (active)Sep 21 · View filing ↗Activist 5%+ holder update (active)Aug 19 · View filing ↗Activist 5%+ holder update (passive)Aug 11 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$130.3M1 insider, 0 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
ISQ Global Fund II GP LLC10% owner	Sell	2M	$54.77	$109.5M	1	Oct 13Filing ↗
-100% of their holdings Held See Explanation of Responses Not a pre-planned sale Filed jointly with 4 others Filed 2 days after
ISQ Global Fund II GP LLC10% owner	Sell	216K	$54.25	$11.7M	1	Oct 12Filing ↗
-100% of their holdings $53.93 to $54.64 across 4 trades Traded Oct 8 to Oct 12 Held See Explanation of Responses Not a pre-planned sale Filed jointly with 4 others Filed 1 day after
ISQ Global Fund II GP LLC10% owner	Sell	168K	$53.89	$9.1M	216K	Oct 7Filing ↗
-43.8% of their holdings $53.53 to $54.00 across 3 trades Traded Oct 5 to Oct 7 Held See Explanation of Responses Not a pre-planned sale Filed jointly with 4 others Filed same day