OKE

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ONEOK, Inc.

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Key Metrics

Previous Close: $96.01
52-Week Range: $64.02 – $97.90
Market Cap: $59.63B
P/E (TTM): 16.34
EPS (TTM): 5.79
Dividend Yield: 4.46%

Advanced Metrics

Price/Book: 2.67
PEG Ratio: 2.07
Return on Equity: 16.28%
Return on Assets: 5.77%
Gross Margin: 27.21%
Operating Margin: 13.25%
Profit Margin: 9.29%
Current Ratio: 0.74
Debt/Equity: 1.43
Total Debt: $33.02B
Free Cash Flow: $899.88M
Revenue Growth: 52.80%
Earnings Growth: 14.20%
Enterprise Value: $93.53B

OKE Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$22.39B	$17.68B	$21.70B	$33.63B
Cost of Revenue	$18.54B	$12.70B	$14.45B	$24.89B
Gross Profit	$3.85B	$4.98B	$7.25B	$8.74B
Operating Expenses	$1.04B	$749.00M	$2.19B	$2.92B
Operating Income	$2.81B	$4.23B	$5.06B	$5.82B
EBITDA	$3.55B	$5.13B	$6.62B	$7.79B
Pretax Income	$2.25B	$3.50B	$4.11B	$4.49B
Income Tax	$528.00M	$838.00M	$998.00M	$1.03B
Net Income	$1.72B	$2.66B	$3.04B	$3.39B
Diluted EPS	3.84	5.48	5.17	5.42
Diluted Shares	448.40M	485.40M	586.50M	625.90M

OKE Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$220.00M	$338.00M	$733.00M	$78.00M
Receivables	$1.53B	$1.71B	$2.33B	$3.01B
Inventory	$581.00M	$639.00M	$748.00M	$948.00M
Current Assets	$2.55B	$3.11B	$4.24B	$4.49B
Total Assets	$24.38B	$44.27B	$64.07B	$66.64B
Current Liabilities	$3.05B	$3.45B	$4.72B	$6.37B
Long-Term Debt	$12.70B	$21.18B	$31.02B	$30.75B
Total Debt	$13.70B	$21.67B	$32.08B	$32.82B
Total Liabilities	$17.89B	$27.78B	$41.94B	$44.07B
Retained Earnings	$50.00M	$868.00M	$1.58B	$2.37B
Shareholders' Equity	$6.49B	$16.48B	$17.04B	$22.48B
Working Capital	-$503.00M	-$344.00M	-$481.00M	-$1.88B
Net Debt	$13.40B	$21.33B	$31.34B	$32.74B

OKE Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$2.91B	$4.42B	$4.89B	$5.60B
Capital Expenditure	-$1.20B	-$1.59B	-$2.02B	-$3.15B
Free Cash Flow	$1.70B	$2.83B	$2.87B	$2.45B
Depreciation & Amortisation	$626.00M	$769.00M	$1.13B	$1.51B
Investing Cash Flow	-$1.14B	-$6.40B	-$6.61B	-$3.75B
Financing Cash Flow	-$1.69B	$2.10B	$2.12B	-$2.50B
Dividends Paid	-$1.67B	-$1.84B	-$2.31B	-$2.58B
Share Repurchases	$0.00	$0.00	-$524.00M	-$75.00M
Net Change in Cash	$74.00M	$118.00M	$395.00M	-$655.00M

OKE Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$8.04B	$7.89B	$8.63B	$9.06B	$9.62B
Cost of Revenue	$6.04B	$5.73B	$6.34B	$6.78B	$7.43B
Gross Profit	$2.01B	$2.16B	$2.29B	$2.28B	$2.19B
Operating Expenses	$746.00M	$706.00M	$726.00M	$742.00M	$752.00M
Operating Income	$1.26B	$1.45B	$1.57B	$1.54B	$1.44B
EBITDA	$1.71B	$1.92B	$2.06B	$2.09B	$1.84B
Pretax Income	$888.00M	$1.11B	$1.24B	$1.25B	$1.02B
Income Tax	$197.00M	$260.00M	$297.00M	$274.00M	$245.00M
Net Income	$636.00M	$841.00M	$939.00M	$977.00M	$774.00M
Diluted EPS	1.04	1.34	1.49	1.55	1.23
Diluted Shares	612.50M	628.10M	631.50M	631.20M	631.60M

OKE Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$141.00M	$97.00M	$1.20B	$78.00M	$172.00M
Receivables	$2.65B	$2.48B	$2.58B	$3.01B	$3.67B
Inventory	$905.00M	$858.00M	$871.00M	$948.00M	$1.14B
Current Assets	$4.12B	$3.90B	$5.18B	$4.49B	$5.54B
Total Assets	$64.26B	$64.52B	$66.62B	$66.64B	$68.20B
Current Liabilities	$6.18B	$6.65B	$5.74B	$6.37B	$7.81B
Long-Term Debt	$29.78B	$29.63B	$31.99B	$30.75B	$30.76B
Total Debt	$32.04B	$32.47B	$33.73B	$32.82B	$33.65B
Total Liabilities	$42.14B	$42.62B	$44.46B	$44.07B	$45.72B
Retained Earnings	$1.57B	$1.76B	$2.05B	$2.37B	$2.47B
Shareholders' Equity	$21.36B	$21.83B	$22.08B	$22.48B	$22.36B
Working Capital	-$2.07B	-$2.75B	-$550.00M	-$1.88B	-$2.27B
Net Debt	$31.90B	$32.37B	$32.53B	$32.74B	$33.48B

OKE Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$904.00M	$1.52B	$1.62B	$1.55B	$934.00M
Capital Expenditure	-$629.00M	-$749.00M	-$804.00M	-$970.00M	-$864.00M
Free Cash Flow	$275.00M	$776.00M	$820.00M	$576.00M	$70.00M
Depreciation & Amortisation	$380.00M	$368.00M	$378.00M	$388.00M	$378.00M
Investing Cash Flow	-$694.00M	-$814.00M	-$1.13B	-$1.11B	-$1.01B
Financing Cash Flow	-$802.00M	-$755.00M	$612.00M	-$1.56B	$167.00M
Dividends Paid	-$643.00M	-$644.00M	-$648.00M	-$648.00M	-$674.00M
Share Repurchases	-$30.00M	$0.00	$0.00	-$45.00M	—
Net Change in Cash	-$592.00M	-$44.00M	$1.10B	-$1.12B	$94.00M

Market Snapshot

About

ONEOK, Inc. is a leading midstream service provider that owns and operates natural gas gathering, processing, storage, and transportation assets. The company connects natural gas and natural gas liquids (NGL) supply in the Mid-Continent and Rocky Mountain regions with key market centers.