ONEOK INC /NEW/ OKE
We are incorporated under the laws of the state of Oklahoma, and our common stock is listed on the NYSE under the trading symbol "OKE." We deliver energy products and services vital to an advancing world. We are a leading midstream service provider of gathering, processing, fractionation, transportation, storage and marine export services. As one of the largest integrated energy infrastructure companies in North America, we are delivering energy that makes a difference in the lives of people in the U.S. and around the world. Through our approximately 60,000-mile pipeline network, we transport the natural gas, NGLs, Refined Products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.63B | $21.70B | $17.68B | $22.39B | $16.54B | $8.54B | $10.16B | $12.59B | $12.17B | $8.92B |
| Cost of revenue | $23.37B | $13.31B | $11.93B | $17.91B | $12.26B | $5.11B | $6.79B | $9.42B | $9.54B | $6.50B |
| Gross profit | $10.26B | $8.39B | $5.75B | $4.48B | $4.28B | $3.43B | $3.38B | $3.17B | $2.64B | $2.42B |
| Operating income | $5.74B | $4.99B | $4.07B | $2.81B | $2.60B | $1.36B | $1.91B | $1.84B | $1.39B | $1.30B |
| Interest expense | $1.78B | $1.37B | $866.0M | $676.0M | $733.0M | $712.9M | $491.8M | $469.6M | $485.7M | $469.7M |
| Pre-tax income | $4.49B | $4.11B | $3.50B | $2.25B | $1.98B | $802.3M | $1.65B | $1.52B | $1.04B | $958.0M |
| Income tax | $1.03B | $998.0M | $838.0M | $528.0M | $484.0M | $189.5M | $372.4M | $362.9M | $447.3M | $212.4M |
| Net income | $3.39B | $3.04B | $2.66B | $1.72B | $1.50B | $612.8M | $1.28B | $1.15B | $387.8M | $352.0M |
| EPS, basic | 5.43 | 5.19 | 5.49 | 3.85 | 3.36 | 1.42 | 3.09 | 2.80 | 1.30 | 1.67 |
| EPS, diluted | 5.42 | 5.17 | 5.48 | 3.84 | 3.35 | 1.42 | 3.07 | 2.78 | 1.29 | 1.66 |
| Shares, diluted (wtd. avg.) | $625.9M | $586.5M | $485.4M | $448.4M | $447.4M | $431.8M | $415.4M | $414.2M | $299.8M | $212.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $78.0M | $733.0M | $338.0M | $220.0M | $146.0M | $524.0M | $21.0M | $12.0M | $37.2M | $248.9M |
| Receivables | $3.01B | $2.33B | $1.71B | $1.53B | $1.44B | $829.8M | $835.1M | $819.0M | $1.20B | $872.4M |
| Inventory | $948.0M | $748.0M | $639.0M | $432.0M | $427.9M | $227.8M | $304.9M | $296.7M | $342.3M | $140.0M |
| Total current assets | $4.49B | $4.24B | $3.11B | $2.55B | $2.37B | $1.87B | $1.47B | $1.40B | $1.76B | $1.43B |
| Property, plant and equipment | $47.86B | $45.94B | $32.70B | $19.95B | $19.32B | $19.15B | $18.35B | $14.77B | $12.70B | $12.57B |
| Goodwill | $8.06B | $8.09B | $4.95B | $528.0M | $527.6M | $527.6M | $681.0M | $681.1M | $681.1M | $525.5M |
| Other intangibles | $2.90B | $3.04B | $1.32B | $225.0M | $235.7M | $246.1M | $276.8M | $286.0M | $312.4M | $479.8M |
| Total assets | $66.64B | $64.07B | $44.27B | $24.38B | $23.62B | $23.08B | $21.81B | $18.23B | $16.85B | $16.14B |
| Accounts payable | $2.84B | $2.19B | $1.56B | $1.36B | $1.33B | $719.3M | $1.21B | $1.12B | $1.14B | $874.7M |
| Short-term debt | $1.24B | $1.06B | $484.0M | $925.0M | $895.8M | $7.7M | $7.7M | $507.6M | $432.6M | $410.6M |
| Total current liabilities | $6.37B | $4.72B | $3.45B | $3.05B | $3.18B | $1.34B | $2.02B | $2.11B | $2.67B | $2.84B |
| Long-term debt | $30.75B | $31.02B | $21.18B | $12.70B | $12.75B | $14.23B | $12.48B | $8.87B | $8.09B | $7.92B |
| Retained earnings | $2.37B | $1.58B | $868.0M | $50.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total equity | $22.48B | $17.04B | $16.48B | $6.49B | $6.02B | $6.04B | $6.23B | $6.58B | $5.69B | $3.43B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.60B | $4.89B | $4.42B | $2.91B | $2.55B | $1.90B | $1.95B | $2.19B | $1.32B | $1.35B |
| Depreciation and amortisation | $1.51B | $1.13B | $769.0M | $626.0M | $622.0M | $578.7M | $476.5M | $428.6M | $406.3M | $391.6M |
| Stock-based compensation | — | — | — | — | — | — | $37.1M | $31.7M | $26.3M | $40.6M |
| Capital expenditure | $3.15B | $2.02B | $1.59B | $1.20B | $697.0M | $2.20B | $3.85B | $2.14B | $512.4M | $624.6M |
| Investing cash flow | -$3.75B | -$6.61B | -$6.40B | -$1.14B | -$665.0M | -$2.27B | -$3.77B | -$2.11B | -$567.6M | -$615.4M |
| Financing cash flow | -$2.50B | $2.12B | $2.10B | -$1.69B | -$2.26B | $875.0M | $1.83B | -$97.0M | -$959.5M | -$586.5M |
| Dividends paid | $2.58B | $2.31B | $1.84B | $1.67B | $1.67B | $1.61B | $1.46B | $1.34B | $829.4M | $517.6M |
| Buybacks | $75.0M | $159.0M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001039684-26-000006.
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