OKE · Oneok Inc /New/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $33.63B | $21.70B | $17.68B | $22.39B | $16.54B | $8.54B |
| Cost of Revenue | $23.37B | $13.31B | $11.93B | $17.91B | $12.26B | $5.11B |
| Gross Profit | $10.26B | $8.39B | $5.75B | $4.48B | $4.28B | $3.43B |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $1.51B | $1.13B | $769.00M | $626.13M | $621.70M | $578.66M |
| Operating Income | $5.74B | $4.99B | $4.07B | $2.81B | $2.60B | $1.36B |
| Interest Expense | $1.78B | $1.37B | $866.00M | $675.95M | $732.92M | $712.89M |
| Income Tax | $1.03B | $998.00M | $838.00M | $527.42M | $484.50M | $189.51M |
| Net Income | $3.39B | $3.04B | $2.66B | $1.72B | $1.50B | $612.81M |
| EPS - Basic | $5.43 | $5.19 | $5.49 | $3.85 | $3.36 | $1.42 |
| EPS - Diluted | $5.42 | $5.17 | $5.48 | $3.84 | $3.35 | $1.42 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $78.00M | $733.00M | $338.00M | $220.23M | $146.39M | $524.50M |
| Accounts Receivable | $3.01B | $2.33B | $1.71B | $1.53B | $1.44B | $829.80M |
| Inventory | $948.00M | $748.00M | $639.00M | $431.74M | $427.88M | $227.81M |
| Accounts Payable | $2.84B | $2.19B | $1.56B | $1.36B | $1.33B | $719.30M |
| Current Assets | $4.49B | $4.24B | $3.11B | $2.55B | $2.37B | $1.87B |
| Total Assets | $66.64B | $64.07B | $44.27B | $24.38B | $23.62B | $23.08B |
| Current Liabilities | $6.37B | $4.72B | $3.45B | $3.05B | $3.18B | $1.34B |
| Long-term Debt | $30.75B | $31.02B | $21.18B | $12.70B | $12.75B | $14.23B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $22.48B | $17.04B | $16.48B | $6.49B | $6.02B | $6.04B |
| Retained Earnings | $2.37B | $1.58B | $868.00M | $50.40M | $0 | $0 |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.60B | $4.89B | $4.42B | $2.91B | $2.55B | $1.90B |
| Investing Cash Flow | ($3.75B) | ($6.61B) | ($6.40B) | ($1.14B) | ($665.29M) | ($2.27B) |
| Financing Cash Flow | ($2.50B) | $2.12B | $2.10B | ($1.69B) | ($2.26B) | $875.00M |
| CapEx | $3.15B | $2.02B | $1.59B | $1.20B | $696.85M | $2.20B |
| Free Cash Flow | $2.45B | $2.87B | $2.83B | $1.70B | $1.85B | ($296.31M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 30.5% | 38.7% | 32.5% | 20.0% | 25.9% | 40.2% |
| Operating margin | 17.1% | 23.0% | 23.0% | 12.5% | 15.7% | 15.9% |
| EBITDA margin | 21.6% | 28.2% | 27.4% | 15.3% | 19.5% | 22.7% |
| Net margin | 10.1% | 14.0% | 15.0% | 7.7% | 9.1% | 7.2% |
| Free cash flow margin | 7.3% | 13.2% | 16.0% | 7.6% | 11.2% | -3.5% |
| FCF / Net income | 0.72 | 0.94 | 1.06 | 0.99 | 1.23 | -0.48 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 23.3% | 24.7% | 24.0% | 23.5% | 24.4% | 23.6% |
| Return on assets | 5.1% | 4.7% | 6.0% | 7.1% | 6.3% | 2.7% |
| Return on equity | 15.1% | 17.8% | 16.1% | 26.5% | 24.9% | 10.1% |
| Return on invested capital | 8.3% | 7.8% | 8.2% | 11.2% | 10.5% | 5.1% |
| Liquidity | ||||||
| Current ratio | 0.71 | 0.90 | 0.90 | 0.83 | 0.75 | 1.39 |
| Quick ratio | 0.56 | 0.74 | 0.72 | 0.69 | 0.61 | 1.22 |
| Cash ratio | 0.01 | 0.16 | 0.10 | 0.07 | 0.05 | 0.39 |
| Leverage | ||||||
| Debt / Equity | 1.37 | 1.82 | 1.29 | 1.96 | 2.12 | 2.35 |
| Debt / Assets | 0.46 | 0.48 | 0.48 | 0.52 | 0.54 | 0.62 |
| Debt / EBITDA | 4.24 | 5.07 | 4.38 | 3.70 | 3.96 | 7.33 |
| Interest coverage | 3.2x | 3.6x | 4.7x | 4.2x | 3.5x | 1.9x |
| Equity multiplier | 2.96 | 3.76 | 2.69 | 3.75 | 3.93 | 3.82 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.50 | 0.34 | 0.40 | 0.92 | 0.70 | 0.37 |
| Inventory turnover | 24.66 | 17.80 | 18.67 | 41.48 | 28.65 | 22.43 |
| Days sales outstanding | 33d | 39d | 35d | 25d | 32d | 35d |
| Days inventory outstanding | 15d | 21d | 20d | 9d | 13d | 16d |
| Days payable outstanding | 44d | 60d | 48d | 28d | 40d | 51d |
| Cash conversion cycle | 3d | -0d | 7d | 6d | 5d | 0d |
| Valuation | ||||||
| P / E | 13.6x | 19.4x | 12.8x | 17.1x | 17.5x | 27.0x |
| P / B | 2.0x | 3.5x | 2.1x | 4.5x | 4.4x | 2.7x |
| P / S | 1.4x | 2.7x | 1.9x | 1.3x | 1.6x | 1.9x |
| EV / EBITDA | 10.6x | 14.6x | 11.3x | 12.2x | 12.1x | 15.6x |
| Growth | ||||||
| Revenue growth (YoY) | 55.0% | 22.7% | -21.0% | 35.3% | 93.6% | -16.0% |
| Revenue CAGR (3y) | 14.5% | 9.5% | 27.4% | 30.1% | 9.5% | -11.1% |
| Revenue CAGR (5y) | 31.5% | 16.4% | 7.0% | 13.0% | 13.1% | 1.9% |
| Gross profit growth (YoY) | 22.3% | 45.9% | 28.4% | 4.5% | 24.8% | 1.7% |
| Operating income growth (YoY) | 15.1% | 22.5% | 45.0% | 8.1% | 90.7% | -28.9% |
| Net income growth (YoY) | 11.8% | 14.2% | 54.4% | 14.8% | 144.5% | -52.1% |
| EPS growth (YoY) | 4.8% | -5.7% | 42.7% | 14.6% | 135.9% | -53.7% |
| EPS CAGR (3y) | 12.2% | 15.6% | 56.9% | 7.7% | 6.4% | 3.3% |
| EPS CAGR (5y) | 30.7% | 11.0% | 14.5% | 24.4% | 15.1% | 4.1% |
| FCF growth (YoY) | -14.6% | 1.5% | 65.9% | -7.9% | - | 84.4% |
| FCF CAGR (5y) | - | - | 128.6% | 16.2% | 20.5% | - |
| Book value growth (YoY) | 32.0% | 3.3% | 153.8% | 8.0% | -0.5% | -2.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$38.58B totalNatural Gas Liquids$16.01B · 41.5%
Refined Products And Crude Oil$13.04B · 33.8%
Natural Gas Gathering And Processing$7.68B · 19.9%
Wholly Owned Interstate Natural Gas Pipelines$1.85B · 4.8%
Product / service
$41.57B totalCommodity Sales$28.88B · 69.5%
Services$4.75B · 11.4%
Liquids Commodity$4.37B · 10.5%
Residue Natural Gas Sales$2.14B · 5.1%
Exchange Services And Natural Gas Gathering And Processing Revenue$1.14B · 2.7%
Transportationand Storage Revenue$258.00M · 0.6%
Other$38.00M · 0.1%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Natural Gas Transmisison & Distribution
Comparing ONEOK INC /NEW/ against the 5 most active filers in the same SIC group.
Dividends
$4.20/share trailing 12 months · +4.0% YoY
| Ex-date | Per share |
|---|---|
| May 4, 2026 | $1.0700 |
| Feb 2, 2026 | $1.0700 |
| Nov 3, 2025 | $1.0300 |
| Aug 1, 2025 | $1.0300 |
| May 5, 2025 | $1.0300 |
| Feb 3, 2025 | $1.0300 |
| Nov 1, 2024 | $0.9900 |
| Aug 1, 2024 | $0.9900 |
| Apr 30, 2024 | $0.9900 |
| Jan 29, 2024 | $0.9900 |
| Oct 31, 2023 | $0.9550 |
| Jul 31, 2023 | $0.9550 |
| Apr 28, 2023 | $0.9550 |
| Jan 27, 2023 | $0.9550 |
| Oct 31, 2022 | $0.9350 |
| Jul 29, 2022 | $0.9350 |
| Apr 29, 2022 | $0.9350 |
| Jan 28, 2022 | $0.9350 |
| Oct 29, 2021 | $0.9350 |
| Jul 30, 2021 | $0.9350 |
| Apr 23, 2021 | $0.9350 |
| Jan 29, 2021 | $0.9350 |
| Oct 30, 2020 | $0.9350 |
| Jul 31, 2020 | $0.9350 |