Oneok IncOKE
Price$87.16Intrinsic value$115.2332% above price

Financial Snapshot

Revenue, profitability, returns, debt, and capital allocation

Revenue $39.4B+81.4% YoYTTM through 30 Jun 2026
Net Income $3.7B+20.5% YoYTTM through 30 Jun 2026
Free Cash Flow $2.9BTTM through 30 Jun 2026

Margins

Current
EBITDA Margin19.4%
Operating Margin15.5%
Net Margin9.3%

Returns

15.9%ROE
5.3%ROA
6.7%ROIC

Balance Sheet Health

Debt / Equity1.37x
Current Ratio0.74x
Net Debt$31.4B
Cash & Equivalents$161M

Quality Metrics

Altman Z-Score1.64
Piotroski F-Score7 / 9
FCF Margin7.4%
Rule of 4014.2
Earnings-Beat Rate75.0%

Multi-Year Trend

Revenue
'21'22'23'24'25
FY2025: $33.6B
Diluted EPS$5.79TTM
'19'20'21'22'23'24'25
FY2025: $5.42

Dividend

$2.14Per share, FY20262.38%Yield-10.6%5-yr growth

Capital Allocation

Capex Intensity8.3%

Segment Performance

SegmentRevenueYoYOutlook
Natural Gas Liquids
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Full-year contribution from the Easton NGL asset integration and Mid-Continent connections, and full-year contribution from the Elk Creek and West Texas NGL pipeline expansions.

Natural Gas Gathering and Processing
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Completed natural gas processing projects in the Permian Basin and the integration of expanded assets in the Mid-Continent region.

Natural Gas Pipelines
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Contributions from Oklahoma natural gas storage expansions and Louisiana pipeline system compression expansion.

Refined Products and Crude
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An increase in refined products demand across ONEOK's system, partial-year benefit from the completion of the Denver-area refined products expansion, and full-year contribution from crude oil export expansions.

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