Last 48 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
ONEOK, Inc.'s quarterly P/E stands at 18.4x, down 23.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 11.1% YoY to 12.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.84 | 18.37 | 11.85 | 12.24 | 15.23 | 23.85 | 15.99 | 19.31 | 15.33 | 18.39 | 14.88 | 16.02 | 14.84 |
| — | -23.0% | -25.8% | -36.6% | -0.6% | +29.7% | +7.5% | +20.5% | +3.3% | +170.9% | -2.2% | +20.0% | -1.6% | |
| P/S Ratio | 1.61 | 1.48 | 1.28 | 1.33 | 1.63 | 1.89 | 2.10 | 2.66 | 2.44 | 2.46 | 1.98 | 1.75 | 1.90 |
| — | -21.4% | -39.2% | -50.1% | -33.4% | -23.1% | +6.0% | +52.3% | +28.1% | +54.8% | +35.3% | +82.3% | +91.6% | |
| P/B Ratio | 2.40 | 2.54 | 2.06 | 2.07 | 2.34 | 2.75 | 2.66 | 3.17 | 2.86 | 2.86 | 2.49 | 1.78 | 3.84 |
| — | -7.4% | -22.7% | -34.7% | -18.1% | -3.8% | +6.7% | +77.6% | -25.5% | -28.6% | -45.1% | -51.0% | -5.6% | |
| P/FCF | 22.11 | 203.89 | 20.14 | 13.97 | 16.52 | 55.25 | 14.03 | 17.07 | 12.56 | 139.75 | 11.36 | 13.92 | 14.84 |
| — | +269.1% | +43.5% | -18.1% | +31.5% | -60.5% | +23.6% | +22.6% | -15.3% | +1726.1% | +11.6% | -29.9% | +15.7% | |
| EV / EBITDA | 10.24 | 12.54 | 6.42 | 10.12 | 11.48 | 14.11 | 11.83 | 14.32 | 11.67 | 13.07 | 10.42 | 12.80 | 13.39 |
| — | -11.1% | -45.7% | -29.4% | -1.6% | +8.0% | +13.5% | +11.9% | -12.8% | +107.4% | -11.3% | +32.4% | +28.8% | |
| EV / EBIT | 12.46 | 16.22 | 11.60 | 11.61 | 13.48 | 17.42 | 12.73 | 16.35 | 13.17 | 15.02 | 12.92 | 15.79 | 12.84 |
| — | -6.9% | -8.9% | -29.0% | +2.3% | +16.0% | -1.5% | +3.6% | +2.6% | +124.7% | -4.6% | +23.8% | -6.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
ONEOK, Inc.'s operating margin was 14.8% in Q1 2026, down 14.9 pp QoQ and down 0.8 pp YoY. The trailing four-quarter average of 20.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 58.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.5% | 26.7% | 29.4% | 19.2% | 19.5% | 16.8% | 30.9% | 24.1% | 25.6% | 23.9% | 25.2% | 20.7% | 17.4% |
| — | +58.5% | -4.6% | -20.4% | -23.6% | -29.7% | +22.6% | +16.6% | +47.1% | +44.1% | +29.0% | +47.2% | +33.8% | |
| Operating Margin | 20.7% | 14.8% | 29.7% | 18.0% | 18.4% | 15.7% | 22.4% | 22.7% | 25.1% | 22.3% | 23.9% | 19.6% | 16.1% |
| — | -5.4% | +32.7% | -20.4% | -26.6% | -29.5% | -6.4% | +15.4% | +56.1% | -31.9% | +59.1% | +48.0% | +30.5% | |
| Net Margin | 10.1% | 8.0% | 10.8% | 10.9% | 10.7% | 7.9% | 13.2% | 13.8% | 15.9% | 13.4% | 13.3% | 10.9% | 12.9% |
| — | +1.8% | -18.1% | -21.2% | -33.1% | -40.8% | -0.7% | +26.4% | +23.9% | -42.7% | +37.7% | +51.8% | +94.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 3.4% | 4.4% | 4.3% | 3.8% | 2.9% | 4.7% | 4.1% | 4.7% | 3.9% | 4.2% | 3.9% | 6.5% |
| — | +19.6% | -7.5% | +3.3% | -18.8% | -25.9% | +12.7% | +6.9% | -27.9% | -74.8% | -44.6% | -44.3% | -4.6% | |
| ROA | 5.2% | 1.1% | 1.5% | 1.4% | 1.3% | 1.0% | 1.6% | 1.5% | 1.8% | 1.4% | 1.6% | 1.3% | 1.9% |
| — | +15.8% | -8.4% | -1.2% | -25.6% | -31.2% | +2.8% | +8.6% | -9.1% | -66.4% | -21.5% | -24.1% | +13.2% | |
| ROIC | 9.6% | 1.9% | 3.7% | 2.1% | 2.0% | 1.8% | 2.4% | 2.1% | 2.4% | 2.1% | 2.4% | 2.1% | 2.2% |
| — | +9.6% | +53.1% | +4.1% | -16.0% | -16.0% | -2.0% | -2.4% | +8.4% | -62.3% | -13.5% | -29.2% | -24.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
ONEOK, Inc.'s Debt/EBITDA ratio is 18.6x, up from 10.6x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 6.6% YoY to 0.71x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.45 | 1.50 | 1.45 | 1.52 | 1.48 | 1.45 | 1.46 | 1.66 | 1.31 | 1.34 | 1.32 | 1.35 | 1.78 |
| — | +3.5% | -0.3% | -8.3% | +13.2% | +8.3% | +10.5% | +22.6% | -26.3% | -28.3% | -37.4% | -38.4% | -21.6% | |
| Debt / EBITDA | 3.87 | 18.63 | 10.65 | 17.42 | 17.83 | 19.51 | 16.89 | 19.84 | 14.67 | 16.69 | 14.51 | 22.21 | 16.98 |
| — | -4.5% | -37.0% | -12.2% | +21.5% | +16.9% | +16.4% | -10.7% | -13.6% | +104.9% | -3.2% | +52.6% | +13.8% | |
| Current Ratio | 0.71 | 0.71 | 0.71 | 0.90 | 0.59 | 0.67 | 0.90 | 0.81 | 0.62 | 0.70 | 0.90 | 0.97 | 1.23 |
| — | +6.6% | -21.5% | +11.8% | -5.8% | -5.4% | -0.3% | -16.4% | -49.4% | -40.3% | +7.8% | +44.7% | +48.3% | |
| Quick Ratio | 0.56 | 0.56 | 0.56 | 0.75 | 0.46 | 0.52 | 0.74 | 0.59 | 0.41 | 0.48 | 0.67 | 0.66 | 0.92 |
| — | +8.6% | -24.8% | +27.2% | +10.2% | +9.0% | +10.0% | -10.4% | -55.1% | -48.3% | +4.3% | +31.8% | +50.1% | |
| Interest Coverage | 3.52 | 3.18 | 3.76 | 3.75 | 3.54 | 3.01 | 3.96 | 3.81 | 4.43 | 3.82 | 4.03 | 3.83 | 4.52 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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ONEOK, Inc.'s current P/E is 15.8x. The average P/E over the last 4 quarters is 14.4x. 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.