Last 47 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 17.22 | 14.21 | 18.37 | 11.85 | 12.24 | 15.23 | 23.85 | 15.99 | 19.31 | 15.33 | 18.39 | 14.88 | 16.02 | 14.84 | 6.79 | 15.21 | 13.34 | 15.08 | 20.30 | 17.28 | 16.47 |
| — | -6.7% | -23.0% | -25.8% | -36.6% | -0.6% | +29.7% | +7.5% | +20.5% | +3.3% | +170.9% | -2.2% | +20.0% | -1.6% | -66.6% | -12.0% | -19.0% | -16.5% | +37.8% | +24.3% | +77.6% | |
| P/S Ratio | 1.75 | 1.14 | 1.48 | 1.28 | 1.33 | 1.63 | 1.89 | 2.10 | 2.66 | 2.44 | 2.46 | 1.98 | 1.75 | 1.90 | 1.59 | 1.47 | 0.96 | 0.99 | 1.40 | 1.15 | 1.36 |
| — | -29.9% | -21.4% | -39.2% | -50.1% | -33.4% | -23.1% | +6.0% | +52.3% | +28.1% | +54.8% | +35.3% | +82.3% | +91.6% | +13.3% | +27.3% | -29.7% | -44.4% | -17.7% | -27.5% | +2.3% | |
| P/B Ratio | 2.61 | 2.38 | 2.54 | 2.06 | 2.07 | 2.34 | 2.75 | 2.66 | 3.17 | 2.86 | 2.86 | 2.49 | 1.78 | 3.84 | 4.00 | 4.54 | 3.64 | 4.07 | 5.28 | 4.37 | 4.44 |
| — | +1.7% | -7.4% | -22.7% | -34.7% | -18.1% | -3.8% | +6.7% | +77.6% | -25.5% | -28.6% | -45.1% | -51.0% | -5.6% | -24.3% | +3.9% | -18.1% | -3.3% | +42.3% | +54.7% | +136.0% | |
| P/FCF | 24.02 | 9.54 | 203.89 | 20.14 | 13.97 | 16.52 | 55.25 | 14.03 | 17.07 | 12.56 | 139.75 | 11.36 | 13.92 | 14.84 | 7.65 | 10.18 | 19.85 | 12.82 | 38.58 | 7.75 | 26.28 |
| — | -42.2% | +269.1% | +43.5% | -18.1% | +31.5% | -60.5% | +23.6% | +22.6% | -15.3% | +1726.1% | +11.6% | -29.9% | +15.7% | -80.2% | +31.4% | -24.4% | -18.1% | +143.1% | -4.8% | — | |
| EV / EBITDA | 10.79 | 11.09 | 12.54 | 6.42 | 10.12 | 11.48 | 14.11 | 11.83 | 14.32 | 11.67 | 13.07 | 10.42 | 12.80 | 13.39 | 6.30 | 11.75 | 9.67 | 10.39 | 12.75 | 10.99 | 11.13 |
| — | -3.5% | -11.1% | -45.7% | -29.4% | -1.6% | +8.0% | +13.5% | +11.9% | -12.8% | +107.4% | -11.3% | +32.4% | +28.8% | -50.6% | +6.9% | -13.2% | -13.8% | +20.9% | +14.0% | +22.8% | |
| EV / EBIT | 13.14 | 13.78 | 16.22 | 11.60 | 11.61 | 13.48 | 17.42 | 12.73 | 16.35 | 13.17 | 15.02 | 12.92 | 15.79 | 12.84 | 6.68 | 13.54 | 12.76 | 13.66 | 16.81 | 14.72 | 14.53 |
| — | +2.2% | -6.9% | -8.9% | -29.0% | +2.3% | +16.0% | -1.5% | +3.6% | +2.6% | +124.7% | -4.6% | +23.8% | -6.0% | -60.2% | -8.0% | -12.2% | -11.6% | +25.9% | +8.7% | +33.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.5% | 14.2% | 26.7% | 29.4% | 19.2% | 19.5% | 16.8% | 30.9% | 24.1% | 25.6% | 23.9% | 25.2% | 20.7% | 17.4% | 16.6% | 19.5% | 14.0% | 13.0% | 13.9% | 13.9% | 16.5% |
| — | -27.6% | +58.5% | -4.6% | -20.4% | -23.6% | -29.7% | +22.6% | +16.6% | +47.1% | +44.1% | +29.0% | +47.2% | +33.8% | +19.4% | +40.2% | -14.8% | -34.5% | -38.6% | -44.6% | -38.5% | |
| Operating Margin | 20.7% | 13.2% | 14.8% | 29.7% | 18.0% | 18.4% | 15.7% | 22.4% | 22.7% | 25.1% | 22.3% | 23.9% | 19.6% | 16.1% | 32.7% | 15.0% | 13.3% | 12.3% | 13.0% | 13.2% | 15.6% |
| — | -28.2% | -5.4% | +32.7% | -20.4% | -26.6% | -29.5% | -6.4% | +15.4% | +56.1% | -31.9% | +59.1% | +48.0% | +30.5% | +150.8% | +13.9% | -15.1% | -33.8% | -38.8% | -45.3% | -38.3% | |
| Net Margin | 10.1% | 8.0% | 8.0% | 10.8% | 10.9% | 10.7% | 7.9% | 13.2% | 13.8% | 15.9% | 13.4% | 13.3% | 10.9% | 12.9% | 23.3% | 9.6% | 7.2% | 6.6% | 6.9% | 6.6% | 8.2% |
| — | -24.8% | +1.8% | -18.1% | -21.2% | -33.1% | -40.8% | -0.7% | +26.4% | +23.9% | -42.7% | +37.7% | +51.8% | +94.5% | +237.6% | +45.2% | -12.6% | -32.8% | -40.5% | -42.0% | -42.7% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 4.2% | 3.4% | 4.4% | 4.3% | 3.8% | 2.9% | 4.7% | 4.1% | 4.7% | 3.9% | 4.2% | 3.9% | 6.5% | 15.4% | 7.6% | 6.9% | 6.8% | 6.5% | 6.4% | 6.7% |
| — | +11.1% | +19.6% | -7.5% | +3.3% | -18.8% | -25.9% | +12.7% | +6.9% | -27.9% | -74.8% | -44.6% | -44.3% | -4.6% | +136.6% | +18.4% | +4.0% | +20.0% | +2.4% | +26.6% | +32.3% | |
| ROA | 5.2% | 1.4% | 1.1% | 1.5% | 1.4% | 1.3% | 1.0% | 1.6% | 1.5% | 1.8% | 1.4% | 1.6% | 1.3% | 1.9% | 4.3% | 2.0% | 1.8% | 1.7% | 1.6% | 1.6% | 1.7% |
| — | +8.2% | +15.8% | -8.4% | -1.2% | -25.6% | -31.2% | +2.8% | +8.6% | -9.1% | -66.4% | -21.5% | -24.1% | +13.2% | +161.7% | +24.4% | +6.3% | +16.3% | -1.6% | +18.9% | +21.5% | |
| ROIC | 9.6% | 2.1% | 1.9% | 3.7% | 2.1% | 2.0% | 1.8% | 2.4% | 2.1% | 2.4% | 2.1% | 2.4% | 2.1% | 2.2% | 5.6% | 2.8% | 3.0% | 2.9% | 2.8% | 2.9% | 2.8% |
| — | +6.1% | +9.6% | +53.1% | +4.1% | -16.0% | -16.0% | -2.0% | -2.4% | +8.4% | -62.3% | -13.5% | -29.2% | -24.2% | +97.8% | -1.2% | +6.1% | +19.7% | +5.2% | +17.5% | +35.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.45 | 1.43 | 1.50 | 1.45 | 1.52 | 1.48 | 1.45 | 1.46 | 1.66 | 1.31 | 1.34 | 1.32 | 1.35 | 1.78 | 1.87 | 2.11 | 2.20 | 2.27 | 2.30 | 2.28 | 2.44 |
| — | -3.5% | +3.5% | -0.3% | -8.3% | +13.2% | +8.3% | +10.5% | +22.6% | -26.3% | -28.3% | -37.4% | -38.4% | -21.6% | -19.0% | -7.6% | -10.1% | -6.2% | -1.6% | -3.8% | +4.6% | |
| Debt / EBITDA | 3.87 | 16.68 | 18.63 | 10.65 | 17.42 | 17.83 | 19.51 | 16.89 | 19.84 | 14.67 | 16.69 | 14.51 | 22.21 | 16.98 | 8.15 | 14.99 | 14.56 | 14.92 | 15.50 | 15.14 | 15.88 |
| — | -6.5% | -4.5% | -37.0% | -12.2% | +21.5% | +16.9% | +16.4% | -10.7% | -13.6% | +104.9% | -3.2% | +52.6% | +13.8% | -47.4% | -1.0% | -8.3% | -16.0% | -6.1% | -15.4% | -22.2% | |
| Current Ratio | 0.71 | 0.74 | 0.71 | 0.71 | 0.90 | 0.59 | 0.67 | 0.90 | 0.81 | 0.62 | 0.70 | 0.90 | 0.97 | 1.23 | 1.18 | 0.84 | 0.67 | 0.83 | 0.76 | 0.75 | 0.95 |
| — | +25.7% | +6.6% | -21.5% | +11.8% | -5.8% | -5.4% | -0.3% | -16.4% | -49.4% | -40.3% | +7.8% | +44.7% | +48.3% | +55.2% | +12.0% | -29.8% | -11.3% | -22.2% | -46.4% | -39.5% | |
| Quick Ratio | 0.56 | 0.59 | 0.56 | 0.56 | 0.75 | 0.46 | 0.52 | 0.74 | 0.59 | 0.41 | 0.48 | 0.67 | 0.66 | 0.92 | 0.92 | 0.64 | 0.50 | 0.62 | 0.55 | 0.56 | 0.67 |
| — | +29.2% | +8.6% | -24.8% | +27.2% | +10.2% | +9.0% | +10.0% | -10.4% | -55.1% | -48.3% | +4.3% | +31.8% | +50.1% | +68.3% | +14.5% | -25.8% | -9.8% | -24.4% | -49.5% | -41.5% | |
| Interest Coverage | 3.52 | 3.67 | 3.18 | 3.76 | 3.75 | 3.54 | 3.01 | 3.96 | 3.81 | 4.43 | 3.82 | 4.03 | 3.83 | 4.52 | 9.57 | 4.94 | 4.58 | 4.38 | 4.16 | 4.04 | 3.95 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying OKE stock.
ONEOK, Inc.'s current P/E is 17.2x. The average P/E over the last 4 quarters is 14.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
ONEOK, Inc.'s current operating margin is 20.7%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking ONEOK, Inc.'s business trajectory between earnings reports.