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ONEOK, Inc.

NYSE•OKE
CEO: Mr. Pierce H. Norton II
Sector: Energy
Industry: Oil & Gas Midstream
Listing Date: 1980-10-01
ONEOK, Inc. engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Nebraska, Iowa, and Illinois; NGL distribution pipelines in Kansas, Nebraska, Iowa, Illinois, and Indiana; transports refined petroleum products, including unleaded gasoline and diesel; and owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities. Further, it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space and rail cars. Additionally, the company transports, stores, and distributes refined products, NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and heating fuel users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma.
Contact Information
100 West Fifth Street, Tulsa, OK, 74103, United States
918-588-7000
www.oneok.com
Market Cap
$53.65B
P/E (TTM)
15.2
21.3
Dividend Yield
4.9%
52W High
$95.30
52W Low
$64.02
52W Range
68%
Rank38Top 36.9%
4.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$9.62B+0.00%
4-Quarter Trend

EPS

$1.23+0.00%
4-Quarter Trend

FCF

$70.00M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Strong 2025 Financial Performance Total revenues reached $33.63B USD, showing a $11.93B increase. Operating income grew to $5.74B USD.
Major Acquisitions Completed Finalized EnLink Acquisition for $4.0B stock value and Delaware Basin JV Acquisition for $941M cash/stock.
Fee-Based Earnings Stability Consolidated earnings were approximately 90% fee-based in 2025, reducing direct commodity price volatility exposure.
Increased Cash Flow Generation Cash provided by operating activities totaled $5.60B USD, supporting capital growth and shareholder returns effectively.

Risk Factors

Drilling Decline Volume Risk Substantial decline in regional drilling activity could severely reduce asset throughput volumes and associated revenues.
Commodity Price Volatility Exposure Volatile commodity prices impact earnings, especially where retaining sales proceeds via POP contracts occurs.
Inflationary Cost Pressures Inflationary pressures may increase capital expenditures and operating costs for materials, services, and personnel.
Operational Hazard Interruptions Leaks, weather events, or cybersecurity breaches could cause physical damage or temporary operational shutdowns.

Outlook

Permian Basin Growth Projects Plans include constructing Bighorn processing plant ($365M) expected completion mid-2027 for dedicated contracts.
Major Export Infrastructure Investment Announcing $1.0B joint venture investment for Texas City Logistics export terminal, expected early 2028 completion.
Capital Allocation Focus Board increased quarterly dividend to $1.07 per share; $2.0B share repurchase program remains authorized.
Pipeline Capacity Expansion Greater Denver area Refined Products pipeline expansion project expected completion mid-2026, fully subscribed under contracts.

Peer Comparison

Revenue (TTM)

SU stock ticker logoSU
$38.19B
+4.2%
OKE stock ticker logoOKE
$35.20B
+41.0%
IMO stock ticker logoIMO
$33.46B
-5.5%

Gross Margin (Latest Quarter)

FANG stock ticker logoFANG
68.7%
-5.2pp
TRP stock ticker logoTRP
56.7%
+3.4pp
SU stock ticker logoSU
48.8%
+16.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SU$75.97B16.514.0%16.0%
TRP$67.42B26.812.5%51.2%
BKR$63.38B20.316.8%31.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.8%
Steady Growth
4Q Net Income CAGR
-2.7%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Aug 3, 2026
|
EPS:$1.41
|
Revenue:$8.52B
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data