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ONEOK, Inc.(OKE)Earnings, Financials & Key Ratios
OKE•NYSE
$90.02
$56.72B mkt cap·16.6× P/E·Price updated May 6, 2026
AboutONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 17,500 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; six NGL storage facilities; and eight NGL product terminals. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution and electric generation companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.Show more
- Revenue$33.63B+55.4%
- EBITDA$8.48B+37.8%
- Net Income$3.4B+11.9%
- EPS (Diluted)5.42+4.8%
- Gross Margin21.46%-8.0%
- EBITDA Margin25.22%-11.3%
- Operating Margin20.72%-10.7%
- Net Margin10.1%-28.0%
- ROE15.19%-3.4%
- ROIC9.59%+16.6%
- Debt/Equity1.45-0.3%
- Interest Coverage3.52-13.0%
OKE Key Insights
ONEOK, Inc. (OKE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 40.8%
- ✓22 consecutive years of dividend growth
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 31.8%
- ✓Good 3Y average ROE of 18.0%
- ✓Healthy dividend yield of 4.5%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
OKE Price & Volume
ONEOK, Inc. (OKE) stock price & volume — 10-year historical chart
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OKE Growth Metrics
ONEOK, Inc. (OKE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.91%
5 Years31.8%
3 Years13.71%
TTM41.04%
Profit CAGR
10 Years30.07%
5 Years40.83%
3 Years25.39%
TTM16.52%
EPS CAGR
10 Years16.67%
5 Years30.72%
3 Years12.17%
TTM9.57%
Return on Capital
10 Years11.49%
5 Years12.57%
3 Years11.59%
Last Year11.65%
OKE Recent Earnings
ONEOK, Inc. (OKE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 28, 2026EPS
$1.23
Est $1.30
-5.4%
Revenue
$9.6B
Est $8.2B
+16.8%
Q1 2026
Feb 23, 2026EPS
$1.55
Est $1.50
+3.3%
Revenue
$9.1B
Est $8.7B
+3.6%
Q4 2025
Oct 28, 2025EPS
$1.49
Est $1.44
+3.5%
Revenue
$8.6B
Est $8.8B
-1.7%
Q3 2025
Aug 4, 2025EPS
$1.34
Est $1.33
+0.8%
Revenue
$7.9B
Est $7.7B
+2.6%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.23vs $1.30-5.4% | $9.6Bvs $8.2B+16.8% |
| Q1 2026 | Feb 23, 2026 | $1.55vs $1.50+3.3% | $9.1Bvs $8.7B+3.6% |
| Q4 2025 | Oct 28, 2025 | $1.49vs $1.44+3.5% | $8.6Bvs $8.8B-1.7% |
| Q3 2025 | Aug 4, 2025 | $1.34vs $1.33+0.8% | $7.9Bvs $7.7B+2.6% |
Based on last 12 quarters of dataView full earnings history →
OKE Peer Comparison
ONEOK, Inc. (OKE) competitors in Gas Gathering, Processing and NGLs — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 WMB | 93.08B | 76.12 | 35.57 | 13.78% | 23.82% | 18.98% | 1.08% | 1.96 |
 KMI | 71.84B | 32.29 | 23.57 | 12.45% | 18.92% | 10.27% | 4.48% | 1.00 |
 TRGP | 55.8B | 259.72 | 30.48 | 3.06% | 9.44% | 58.24% | 7.02% | 5.45 |
 DTM | 14.94B | 146.47 | 33.06 | 26.71% | 36.6% | 9.61% | 3.28% | 0.70 |
 MPLX | 56.51B | 55.66 | 11.55 | 8.37% | 37.54% | 32.81% | 7.26% | 1.80 |
 EPD | 83.23B | 38.50 | 14.47 | -6.44% | 11.03% | 19.29% | 3.56% | 1.14 |
 AM | 10.35B | 21.78 | 25.33 | 6.99% | 31.94% | 20.38% | 7.45% | 1.63 |
 CTRA | 27.06B | 35.63 | 15.84 | -49.62% | 23.34% | 11.77% | 6.04% | 0.27 |
Compare OKE vs Peers
ONEOK, Inc. (OKE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OKE Income Statement
ONEOK, Inc. (OKE) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 12.24B | 12.62B | 10.11B | 8.46B | 17.27B | 22.87B | 17.68B | 21.64B | 33.63B | 35.2B |
| Revenue Growth % | 37.64% | 3.1% | -19.88% | -16.39% | 104.24% | 32.41% | -22.71% | 22.41% | 55.42% | 41.04% |
| Cost of Goods Sold | 10.64B | 10.65B | 8.13B | 6.43B | 14.25B | 19.75B | 11.93B | 16.59B | 26.41B | 26.77B |
| COGS % of Revenue | 86.89% | 84.41% | 80.37% | 76.04% | 82.52% | 86.36% | 67.48% | 76.66% | 78.54% | - |
| Gross Profit | 1.6B▲ 0% | 1.97B▲ 22.7% | 1.99B▲ 0.9% | 2.03B▲ 2.0% | 3.02B▲ 49.0% | 3.12B▲ 3.3% | 5.75B▲ 84.3% | 5.05B▼ 12.1% | 7.22B▲ 42.9% | 8.43B▲ 0% |
| Gross Margin % | 13.11% | 15.59% | 19.63% | 23.96% | 17.48% | 13.64% | 32.52% | 23.34% | 21.46% | 23.95% |
| Gross Profit Growth % | 19.85% | 22.68% | 0.87% | 2.03% | 49.05% | 3.3% | 84.27% | -12.14% | 42.93% | - |
| Operating Expenses | 98.4M | 103.92M | 119.16M | 125.03M | 166.67M | 85.23M | 1.68B | 29M | 251M | 1.3B |
| OpEx % of Revenue | 0.8% | 0.82% | 1.18% | 1.48% | 0.97% | 0.37% | 9.48% | 0.13% | 0.75% | - |
| Selling, General & Admin | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 634M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 98.4M | 103.92M | 119.16M | 125.03M | 166.67M | 85.23M | 1.68B | 29M | 251M | 2M |
| Operating Income | 1.51B▲ 0% | 1.86B▲ 23.8% | 1.87B▲ 0.1% | 1.9B▲ 1.8% | 2.85B▲ 50.1% | 3.03B▲ 6.3% | 4.07B▲ 34.2% | 5.02B▲ 23.3% | 6.97B▲ 38.8% | 7.13B▲ 0% |
| Operating Margin % | 12.3% | 14.77% | 18.46% | 22.48% | 16.52% | 13.27% | 23.04% | 23.2% | 20.72% | 20.26% |
| Operating Income Growth % | 20.5% | 23.8% | 0.11% | 1.84% | 50.08% | 6.35% | 34.21% | 23.31% | 38.76% | - |
| EBITDA | 1.91B | 2.29B | 2.34B | 2.48B | 3.47B | 3.66B | 4.84B | 6.16B | 8.48B | 8.64B |
| EBITDA Margin % | 15.62% | 18.17% | 23.17% | 29.32% | 20.12% | 16% | 27.39% | 28.45% | 25.22% | 24.56% |
| EBITDA Growth % | 16.51% | 19.9% | 2.18% | 5.83% | 40.13% | 5.34% | 32.26% | 27.14% | 37.79% | 33.89% |
| D&A (Non-Cash Add-back) | 406.33M | 428.56M | 476.54M | 578.66M | 621.7M | 626.13M | 769M | 1.13B | 1.51B | 1.51B |
| EBIT | 1.51B | 1.97B | 2.12B | 1.42B | 2.68B | 2.89B | 4.34B | 5.46B | 6.27B | 6.34B |
| Net Interest Income | -464.63M | -451.33M | -468.54M | -619.21M | -692.97M | -641.73M | -845M | -1.35B | -1.78B | -1.78B |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 464.63M | 451.33M | 468.54M | 619.21M | 692.97M | 641.73M | 845M | 1.35B | 1.78B | 1.78B |
| Other Income/Expense | -465.37M | -346.66M | -215.59M | -1.1B | -868.84M | -784.51M | -575M | -911M | -2.48B | -2.51B |
| Pretax Income | 1.04B▲ 0% | 1.52B▲ 45.8% | 1.65B▲ 8.8% | 802.32M▼ 51.4% | 1.98B▲ 147.3% | 2.25B▲ 13.4% | 3.5B▲ 55.4% | 4.11B▲ 17.5% | 4.49B▲ 9.2% | 4.62B▲ 0% |
| Pretax Margin % | 8.5% | 12.03% | 16.32% | 9.49% | 11.49% | 9.84% | 19.78% | 18.99% | 13.35% | 13.13% |
| Income Tax | 447.28M | 362.9M | 372.41M | 189.51M | 484.5M | 527.42M | 838M | 998M | 1.03B | 1.08B |
| Effective Tax Rate % | 42.97% | 23.91% | 22.56% | 23.62% | 24.42% | 23.44% | 23.96% | 24.28% | 22.9% | 23.27% |
| Net Income | 387.84M▲ 0% | 1.15B▲ 197.0% | 1.28B▲ 11.0% | 612.81M▼ 52.1% | 1.5B▲ 144.8% | 1.72B▲ 14.8% | 2.66B▲ 54.4% | 3.04B▲ 14.1% | 3.4B▲ 11.9% | 3.53B▲ 0% |
| Net Margin % | 3.17% | 9.12% | 12.64% | 7.25% | 8.68% | 7.53% | 15.04% | 14.03% | 10.1% | 10.04% |
| Net Income Growth % | 10.17% | 196.95% | 11.02% | -52.07% | 144.77% | 14.8% | 54.41% | 14.14% | 11.86% | 16.52% |
| Net Income (Continuing) | 593.52M | 1.16B | 1.28B | 612.81M | 1.5B | 1.72B | 2.66B | 3.11B | 3.46B | 3.55B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 157.49M | 0 | 0 | 0 | 0 | 0 | 0 | 5.1B | 84M | 90M |
| EPS (Diluted) | 1.29▲ 0% | 2.78▲ 115.5% | 3.08▲ 10.8% | 1.42▼ 53.9% | 3.35▲ 135.9% | 3.84▲ 14.6% | 5.48▲ 42.7% | 5.17▼ 5.7% | 5.42▲ 4.8% | 5.59▲ 0% |
| EPS Growth % | -22.29% | 115.5% | 10.79% | -53.9% | 135.92% | 14.63% | 42.71% | -5.66% | 4.84% | 9.57% |
| EPS (Basic) | 1.30 | 2.80 | 3.09 | 1.42 | 3.36 | 3.85 | 5.49 | 5.19 | 5.43 | - |
| Diluted Shares Outstanding | 299.78M | 414.19M | 415.44M | 431.78M | 447.4M | 448.45M | 485.4M | 586.5M | 631.2M | 631.6M |
| Basic Shares Outstanding | 297.48M | 411.49M | 413.56M | 431.11M | 446.4M | 447.51M | 484.3M | 586.5M | 630M | 630.7M |
| Dividend Payout Ratio | 213.85% | 115.92% | 114% | 261.97% | 111.16% | 97.07% | 69.16% | 76.21% | 76.08% | - |
OKE Balance Sheet
ONEOK, Inc. (OKE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.76B | 1.4B | 1.47B | 1.87B | 2.37B | 2.55B | 3.11B | 4.24B | 4.49B | 5.54B |
| Cash & Short-Term Investments | 37.19M | 11.97M | 20.96M | 524.5M | 146.39M | 220M | 338M | 733M | 78M | 172M |
| Cash Only | 37.19M | 11.97M | 20.96M | 524.5M | 146.39M | 220M | 338M | 733M | 78M | 172M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.2B | 820.66M | 835.12M | 829.8M | 1.44B | 1.53B | 1.71B | 2.33B | 3.01B | 3.67B |
| Days Sales Outstanding | 35.86 | 23.73 | 30.14 | 35.81 | 30.47 | 24.45 | 35.21 | 39.24 | 32.67 | 30.44 |
| Inventory | 432.59M | 437.84M | 506.68M | 370.99M | 580.9M | 580.73M | 787M | 748M | 948M | 1.14B |
| Days Inventory Outstanding | 14.84 | 15 | 22.75 | 21.06 | 14.88 | 10.73 | 24.08 | 16.46 | 13.1 | 13 |
| Other Current Assets | 91.72M | 128.16M | 107.58M | 144.5M | 205.3M | 214.53M | 278M | 431M | 452M | 565M |
| Total Non-Current Assets | 15.08B | 16.83B | 20.34B | 21.21B | 21.25B | 21.83B | 41.16B | 59.83B | 62.15B | 62.66B |
| Property, Plant & Equipment | 12.7B | 14.77B | 18.35B | 19.15B | 19.32B | 19.95B | 32.7B | 46.16B | 47.86B | 48.3B |
| Fixed Asset Turnover | 0.96x | 0.85x | 0.55x | 0.44x | 0.89x | 1.15x | 0.54x | 0.47x | 0.70x | 0.71x |
| Goodwill | 681.1M | 681.1M | 681M | 527.59M | 527.59M | 527.59M | 4.95B | 8.09B | 8.06B | 8.06B |
| Intangible Assets | 312.36M | 286.04M | 276.84M | 246.13M | 235.7M | 225.28M | 1.32B | 3.04B | 2.9B | 2.87B |
| Long-Term Investments | 1B | 969.15M | 861.84M | 805.03M | 797.61M | 801.79M | 1.87B | 2.32B | 2.89B | 11.09B |
| Other Non-Current Assets | 180.83M | 130.1M | 173.43M | 475.3M | 366.46M | 324M | 319M | 230M | 444M | -5.55B |
| Total Assets | 16.85B▲ 0% | 18.23B▲ 8.2% | 21.81B▲ 19.6% | 23.08B▲ 5.8% | 23.62B▲ 2.4% | 24.38B▲ 3.2% | 44.27B▲ 81.6% | 64.07B▲ 44.7% | 66.64B▲ 4.0% | 68.2B▲ 0% |
| Asset Turnover | 0.73x | 0.69x | 0.46x | 0.37x | 0.73x | 0.94x | 0.40x | 0.34x | 0.50x | 0.53x |
| Asset Growth % | 4.38% | 8.23% | 19.64% | 5.81% | 2.35% | 3.21% | 81.57% | 44.74% | 4.01% | 85.52% |
| Total Current Liabilities | 2.67B | 2.11B | 2.02B | 1.34B | 3.18B | 3.05B | 3.45B | 4.72B | 6.37B | 7.81B |
| Accounts Payable | 1.14B | 1.12B | 1.21B | 719.3M | 1.33B | 1.36B | 1.56B | 2.19B | 2.84B | 3.57B |
| Days Payables Outstanding | 39.13 | 38.24 | 54.33 | 40.83 | 34.12 | 25.11 | 47.85 | 48.12 | 39.22 | 38.96 |
| Short-Term Debt | 1.05B | 507.65M | 227.65M | 7.65M | 895.81M | 925M | 484M | 1.06B | 2.06B | 2.89B |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 344.13M | 321.31M | 314.69M | 269.4M | 707.03M | 386M | 785M | 679M | 967M | 836M |
| Current Ratio | 0.66x | 0.66x | 0.73x | 1.39x | 0.75x | 0.84x | 0.90x | 0.90x | 0.71x | 0.71x |
| Quick Ratio | 0.50x | 0.46x | 0.48x | 1.11x | 0.56x | 0.64x | 0.67x | 0.74x | 0.56x | 0.56x |
| Cash Conversion Cycle | 11.57 | 0.49 | -1.44 | 16.04 | 11.22 | 10.07 | 11.43 | 7.57 | 6.55 | 4.47 |
| Total Non-Current Liabilities | 8.49B | 9.54B | 13.57B | 15.69B | 14.42B | 14.83B | 24.33B | 37.22B | 37.71B | 37.9B |
| Long-Term Debt | 8.09B | 8.87B | 12.5B | 14.23B | 12.75B | 12.7B | 21.18B | 31.02B | 30.75B | 30.76B |
| Capital Lease Obligations | 0 | 26.24M | 13.51M | 87.61M | 75.64M | 68M | 74M | 154M | 0 | 0 |
| Deferred Tax Liabilities | 52.7M | 219.73M | 536.06M | 669.7M | 1.17B | 1.74B | 2.59B | 5.45B | 6.35B | 24.77B |
| Other Non-Current Liabilities | 348.92M | 424.38M | 536.54M | 706.08M | 431.87M | 331M | 479M | 594M | 603M | 1.79B |
| Total Liabilities | 11.16B | 11.65B | 15.59B | 17.04B | 17.61B | 17.89B | 27.78B | 41.94B | 44.07B | 45.76B |
| Total Debt | 9.14B | 9.38B | 12.72B | 14.34B | 13.73B | 13.7B | 21.76B | 32.29B | 32.82B | 33.65B |
| Net Debt | 9.1B | 9.37B | 12.7B | 13.81B | 13.59B | 13.48B | 21.43B | 31.56B | 32.74B | 33.48B |
| Debt / Equity | 1.61x | 1.43x | 2.04x | 2.37x | 2.28x | 2.11x | 1.32x | 1.46x | 1.45x | 1.45x |
| Debt / EBITDA | 4.78x | 4.09x | 5.43x | 5.78x | 3.95x | 3.74x | 4.50x | 5.25x | 3.87x | 3.89x |
| Net Debt / EBITDA | 4.76x | 4.09x | 5.42x | 5.57x | 3.91x | 3.68x | 4.43x | 5.13x | 3.86x | 3.86x |
| Interest Coverage | 3.24x | 4.36x | 4.52x | 2.30x | 3.86x | 4.51x | 5.14x | 4.04x | 3.52x | 3.56x |
| Total Equity | 5.69B▲ 0% | 6.58B▲ 15.7% | 6.23B▼ 5.4% | 6.04B▼ 2.9% | 6.02B▼ 0.5% | 6.49B▲ 8.0% | 16.48B▲ 153.8% | 22.13B▲ 34.3% | 22.57B▲ 2.0% | 22.45B▲ 0% |
| Equity Growth % | 65.81% | 15.73% | -5.37% | -2.95% | -0.45% | 7.96% | 153.84% | 34.27% | 1.97% | 65.75% |
| Book Value per Share | 18.97 | 15.89 | 14.99 | 13.99 | 13.44 | 14.48 | 33.96 | 37.74 | 35.76 | 35.54 |
| Total Shareholders' Equity | 5.53B | 6.58B | 6.23B | 6.04B | 6.02B | 6.49B | 16.48B | 17.04B | 22.48B | 22.36B |
| Common Stock | 4.23M | 4.45M | 4.45M | 4.75M | 4.75M | 4.75M | 6M | 6M | 7M | 7M |
| Retained Earnings | 0 | 0 | 0 | 0 | 0 | 50.4M | 868M | 1.58B | 2.37B | 2.47B |
| Treasury Stock | -876.71M | -851.81M | -808.39M | -764.3M | -732.1M | -706.16M | -677M | -807M | -829M | -818M |
| Accumulated OCI | -188.53M | -188.24M | -374M | -551.45M | -471.35M | -108.26M | -33M | -96M | -27M | -266M |
| Minority Interest | 157.49M | 0 | 0 | 0 | 0 | 0 | 0 | 5.1B | 84M | 90M |
OKE Cash Flow Statement
ONEOK, Inc. (OKE) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.32B | 2.19B | 1.95B | 1.9B | 2.55B | 2.91B | 4.42B | 4.89B | 5.6B | 5.6B |
| Operating CF Margin % | 10.74% | 17.32% | 19.25% | 22.46% | 14.74% | 12.71% | 25.01% | 22.59% | 16.65% | - |
| Operating CF Growth % | -2.68% | 66.24% | -10.97% | -2.45% | 34.08% | 14.13% | 52.14% | 10.56% | 14.55% | 35.3% |
| Net Income | 593.52M | 1.16B | 1.28B | 612.81M | 1.5B | 1.72B | 2.66B | 3.11B | 3.46B | 3.53B |
| Depreciation & Amortization | 406.33M | 428.56M | 476.54M | 578.66M | 621.7M | 626.13M | 769M | 1.13B | 1.51B | 1.51B |
| Stock-Based Compensation | 26.26M | 31.66M | 37.15M | 29.4M | 54M | 53M | 0 | 0 | 0 | 0 |
| Deferred Taxes | 437.92M | 361.01M | 372.73M | 186.73M | 472.06M | 463.42M | 829M | 889M | 957M | 1.04B |
| Other Non-Cash Items | 43.98M | 4.05M | -54.31M | 651.97M | 40.58M | 37.79M | -194M | -204M | 46M | 168M |
| Working Capital Changes | -192.6M | 206.41M | -163.9M | -160.5M | -141.77M | 3.4M | 358M | -43M | -380M | -641M |
| Change in Receivables | -330.52M | 383.99M | -19.69M | -1.3M | -610.53M | -87.27M | 107M | 49M | -683M | -1.02B |
| Change in Inventory | -202.26M | 38.46M | -8.26M | 77.12M | -105.04M | -62.15M | 118M | 17M | -263M | -323M |
| Change in Payables | 261.31M | -320.13M | -62.95M | -80.26M | 622.42M | -26.11M | -62M | 114M | 671M | 1.2B |
| Cash from Investing | -567.63M | -2.11B | -3.77B | -2.27B | -665.29M | -1.14B | -6.4B | -6.61B | -3.75B | -4.06B |
| Capital Expenditures | -512.39M | -2.14B | -3.85B | -2.2B | -696.85M | -1.2B | -1.59B | -2.02B | -3.15B | -3.39B |
| CapEx % of Revenue | 4.19% | 16.96% | 38.05% | 25.96% | 4.03% | 5.26% | 9.02% | 9.34% | 9.37% | - |
| Acquisitions | 3.88M | -1.75M | -4.03M | 0 | -1M | -3M | -5.01B | -5.83B | -647M | -565M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 28.74M | 30.08M | 83.62M | -75.15M | 32.56M | 65.82M | 206M | 1.24B | 48M | 71M |
| Cash from Financing | -959.46M | -97.05M | 1.83B | 875M | -2.26B | -1.69B | 2.1B | 2.12B | -2.5B | -1.53B |
| Debt Issued (Net) | -299.88M | 248.45M | 3.35B | 1.57B | -604.89M | -26.42M | 4B | 5.09B | 830M | 1.71B |
| Equity Issued (Net) | 471.36M | 1.2B | 29.04M | 969.76M | 32.79M | 32.44M | 0 | -524M | -75M | -45M |
| Dividends Paid | -829.41M | -1.34B | -1.46B | -1.61B | -1.67B | -1.67B | -1.84B | -2.31B | -2.58B | -2.61B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -159M | -75M | -45M |
| Other Financing | -290.1M | -214.42M | -88.54M | -56.95M | -19.55M | -27.02M | -58M | -135M | -675M | -582M |
| Net Change in Cash | -211.68M▲ 0% | -25.22M▲ 88.1% | 8.98M▲ 135.6% | 503.54M▲ 5505.5% | -378.11M▼ 175.1% | 73.84M▲ 119.5% | 118M▲ 59.8% | 395M▲ 234.7% | -655M▼ 265.8% | 31M▲ 0% |
| Free Cash Flow | 803.02M▲ 0% | 45.24M▼ 94.4% | -1.9B▼ 4302.9% | -296.31M▲ 84.4% | 1.85B▲ 724.1% | 1.7B▼ 7.9% | 2.83B▲ 65.9% | 2.87B▲ 1.5% | 2.45B▼ 14.6% | 2.24B▲ 0% |
| FCF Margin % | 6.56% | 0.36% | -18.8% | -3.5% | 10.71% | 7.45% | 15.99% | 13.25% | 7.28% | 6.37% |
| FCF Growth % | 10.46% | -94.37% | -4302.92% | 84.42% | 724.14% | -7.87% | 65.85% | 1.45% | -14.65% | -26.68% |
| FCF per Share | 2.68 | 0.11 | -4.58 | -0.69 | 4.13 | 3.80 | 5.82 | 4.89 | 3.88 | 3.88 |
| FCF Conversion (FCF/Net Income) | 3.39x | 1.90x | 1.52x | 3.10x | 1.70x | 1.69x | 1.66x | 1.61x | 1.65x | 0.63x |
| Interest Paid | 432.21M | 418.24M | 435.17M | 760.98M | 692M | 582M | 653M | 1.3B | 1.73B | 0 |
| Taxes Paid | 6.63M | 2.23M | 2.69M | 342K | 9M | 59M | 37M | 102M | 74M | 0 |
OKE Key Ratios
ONEOK, Inc. (OKE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 8.51% | 18.78% | 19.97% | 9.99% | 24.88% | 27.53% | 23.14% | 15.72% | 15.19% | 15.86% |
| Return on Invested Capital (ROIC) | 8.24% | 9.1% | 8.03% | 7.35% | 10.85% | 11.5% | 10.55% | 8.22% | 9.59% | 9.59% |
| Gross Margin | 13.11% | 15.59% | 19.63% | 23.96% | 17.48% | 13.64% | 32.52% | 23.34% | 21.46% | 23.95% |
| Net Margin | 3.17% | 9.12% | 12.64% | 7.25% | 8.68% | 7.53% | 15.04% | 14.03% | 10.1% | 10.04% |
| Debt / Equity | 1.61x | 1.43x | 2.04x | 2.37x | 2.28x | 2.11x | 1.32x | 1.46x | 1.45x | 1.45x |
| Interest Coverage | 3.24x | 4.36x | 4.52x | 2.30x | 3.86x | 4.51x | 5.14x | 4.04x | 3.52x | 3.56x |
| FCF Conversion | 3.39x | 1.90x | 1.52x | 3.10x | 1.70x | 1.69x | 1.66x | 1.61x | 1.65x | 0.63x |
| Revenue Growth | 37.64% | 3.1% | -19.88% | -16.39% | 104.24% | 32.41% | -22.71% | 22.41% | 55.42% | 41.04% |
OKE SEC Filings & Documents
ONEOK, Inc. (OKE) SEC filings — annual & quarterly reports (10-K, 10-Q)
OKE Frequently Asked Questions
ONEOK, Inc. (OKE) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
ONEOK, Inc. (OKE) reported $35.20B in revenue for fiscal year 2025. This represents a 2775% increase from $1.22B in 1996.
ONEOK, Inc. (OKE) grew revenue by 55.4% over the past year. This is strong growth.
Yes, ONEOK, Inc. (OKE) is profitable, generating $3.53B in net income for fiscal year 2025 (10.1% net margin).
Dividend & Returns
Yes, ONEOK, Inc. (OKE) pays a dividend with a yield of 4.55%. This makes it attractive for income-focused investors.
ONEOK, Inc. (OKE) has a return on equity (ROE) of 15.2%. This is reasonable for most industries.
ONEOK, Inc. (OKE) generated $2.24B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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