ONEOK (OKE) Financials

$79.75 -0.84 (-1.04%)

As of 11:20 AM Eastern

Annual Income Statements for ONEOK

This table shows ONEOK's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	3,034	2,658	1,721	1,499	612	1,277	1,151	387	352	245
Consolidated Net Income / (Loss)	3,112	2,659	1,722	1,500	613	1,279	1,155	594	743	379
Net Income / (Loss) Continuing Operations	3,112	2,659	1,722	1,500	613	1,279	1,155	594	746	385
Total Pre-Tax Income	4,110	3,497	2,250	1,984	802	1,651	1,518	1,041	958	522
Total Operating Income	4,989	4,072	2,807	2,596	1,361	1,914	1,835	1,392	1,296	996
Total Gross Profit	8,387	5,748	4,477	4,283	3,432	3,376	3,170	2,636	2,425	2,122
Total Revenue	21,698	17,677	22,387	16,540	8,542	10,164	12,593	12,174	8,921	7,763
Operating Revenue	21,698	17,677	22,387	16,540	8,542	10,164	12,593	12,174	8,921	7,763
Total Cost of Revenue	13,311	11,929	17,910	12,257	5,110	6,788	9,423	9,538	6,496	5,641
Operating Cost of Revenue	13,311	11,929	17,910	12,257	5,110	6,788	9,423	9,538	6,496	5,641
Total Operating Expenses	3,398	1,676	1,670	1,687	2,071	1,462	1,335	1,244	1,129	1,126
Selling, General & Admin Expense	2,162	1,319	958	900	761	864	803	724	658	606
Depreciation Expense	1,134	769	626	622	579	477	429	406	392	355
Other Operating Expenses / (Income)	29	-570	86	165	124	119	104	98	89	88
Restructuring Charge	73	158	0.00	0.00	-	-	-	-	-	-
Total Other Income / (Expense), net	-879	-575	-557	-612	-559	-263	-318	-351	-338	-474
Interest Expense	1,371	866	676	733	713	492	470	486	470	417
Interest & Investment Income	439	202	148	122	129	219	166	155	140	-53
Other Income / (Expense), net	53	89	-29	-1.00	25	9.06	-14	-20	-8.07	-4.39
Income Tax Expense	998	838	528	484	190	372	363	447	212	137
Preferred Stock Dividends Declared	1.00	1.00	1.00	1.00	1.10	1.10	1.10	-0.77	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	77	0.00	0.00	-	0.00	-	3.33	206	391	134
Basic Earnings per Share	$5.19	$5.49	$3.85	$3.36	$1.42	$3.09	$2.80	$1.30	$1.67	$1.17
Weighted Average Basic Shares Outstanding	584.60M	484.30M	447.50M	446.40M	431.11M	413.56M	411.49M	297.48M	211.13M	210.21M
Diluted Earnings per Share	$5.17	$5.48	$3.84	$3.35	$1.42	$3.07	$2.78	$1.29	$1.66	$1.16
Weighted Average Diluted Shares Outstanding	586.50M	485.40M	448.40M	447.40M	431.78M	415.44M	414.20M	299.78M	212.38M	210.54M
Weighted Average Basic & Diluted Shares Outstanding	624.34M	583.16M	447.22M	446.21M	444.98M	413.32M	411.30M	298.30M	210.80M	209.40M
Cash Dividends to Common per Share	$3.96	$3.82	$3.74	$3.74	$3.74	$3.53	$3.25	$2.72	$0.00	$2.43

This table shows ONEOK's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	636	923	692	780	639	688	453	468	1,049	485	431
Consolidated Net Income / (Loss)	691	1,000	693	780	639	688	454	468	1,049	485	432
Net Income / (Loss) Continuing Operations	691	1,000	693	780	639	688	454	468	1,049	485	432
Total Pre-Tax Income	888	1,328	912	1,023	847	910	595	613	1,379	628	564
Total Operating Income	1,220	1,568	1,128	1,229	1,064	1,099	739	737	1,497	756	700
Total Gross Profit	2,388	2,504	1,996	2,003	1,884	1,934	1,390	1,250	1,174	1,139	1,141
Total Revenue	8,043	7,000	5,023	4,894	4,781	5,235	4,189	3,732	4,521	5,032	5,914
Operating Revenue	8,043	7,000	5,023	4,894	4,781	5,235	4,189	3,732	4,521	5,032	5,914
Total Cost of Revenue	5,655	4,496	3,027	2,891	2,897	3,301	2,799	2,482	3,347	3,893	4,773
Operating Cost of Revenue	5,655	4,496	3,027	2,891	2,897	3,301	2,799	2,482	3,347	3,893	4,773
Total Operating Expenses	1,168	936	868	774	820	835	651	513	-323	383	441
Selling, General & Admin Expense	655	674	512	490	486	476	308	296	239	275	238
Depreciation Expense	380	344	274	262	254	260	177	170	162	157	157
Other Operating Expenses / (Income)	91	-145	72	22	80	64	43	47	-724	-49	46
Restructuring Charge	42	-	10	-	-	-	123	-	-	-	0.00
Total Other Income / (Expense), net	-332	-240	-216	-206	-217	-189	-144	-124	-118	-128	-136
Interest Expense	442	448	325	298	300	305	215	180	166	166	167
Interest & Investment Income	108	183	92	88	76	70	49	43	40	37	39
Other Income / (Expense), net	2.00	25	17	4.00	7.00	46	22	13	8.00	1.00	-8.00
Income Tax Expense	197	328	219	243	208	222	141	145	330	143	132
Preferred Stock Dividends Declared	0.00	-	1.00	0.00	0.00	-	1.00	0.00	0.00	-	1.00
Net Income / (Loss) Attributable to Noncontrolling Interest	55	-	-	-	-	-	-	-	-	-	-
Basic Earnings per Share	$1.04	$1.59	$1.18	$1.33	$1.09	$1.12	$0.99	$1.04	$2.34	$1.09	$0.96
Weighted Average Basic Shares Outstanding	611.40M	584.60M	584.80M	584.60M	584.20M	484.30M	457.30M	448.30M	448.10M	447.50M	447.70M
Diluted Earnings per Share	$1.04	$1.57	$1.18	$1.33	$1.09	$1.11	$0.99	$1.04	$2.34	$1.09	$0.96
Weighted Average Diluted Shares Outstanding	612.50M	586.50M	586.70M	585.80M	585.70M	485.40M	458.20M	449M	449M	448.40M	448.20M
Weighted Average Basic & Diluted Shares Outstanding	624.63M	624.34M	584.18M	584.07M	583.65M	583.16M	582.55M	447.67M	447.44M	447.22M	446.95M
Cash Dividends to Common per Share	$1.03	-	$0.99	$0.99	$0.99	-	$0.96	$0.96	$0.96	-	$0.94

This table details how cash moves in and out of ONEOK's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	395	118	74	-378	504	8.98	-25	-212	151	-75
Net Cash From Operating Activities	4,888	4,421	2,906	2,546	1,899	1,947	2,187	1,315	1,353	1,023
Net Cash From Continuing Operating Activities	4,888	4,421	2,906	2,546	1,899	2,089	1,942	1,315	1,353	1,023
Net Income / (Loss) Continuing Operations	3,112	2,659	1,722	1,500	613	1,279	1,155	594	743	379
Consolidated Net Income / (Loss)	3,112	2,659	1,722	1,500	613	1,279	1,155	594	743	379
Depreciation Expense	1,134	769	626	622	579	477	429	406	392	355
Non-Cash Adjustments To Reconcile Net Income	-276	-277	349	1.00	646	-17	12	70	47	384
Changes in Operating Assets and Liabilities, net	918	1,270	209	423	62	209	582	245	171	-95
Net Cash From Investing Activities	-6,612	-6,404	-1,139	-665	-2,271	-3,769	-2,115	-568	-615	-1,191
Net Cash From Continuing Investing Activities	-6,612	-6,404	-1,139	-665	-2,271	-3,769	-2,115	-568	-615	-1,191
Purchase of Property, Plant & Equipment	-2,021	-1,595	-1,202	-697	-2,195	-3,848	-2,141	-512	-625	-1,188
Acquisitions	-5,829	-5,015	0.00	0.00	-	-	-	-	-	0.00
Purchase of Investments	-111	-207	-3.00	-1.00	-	-	-0.17	-88	-68	-28
Divestitures	1,200	0.00	0.00	-	-	-	-	-	-	-
Sale and/or Maturity of Investments	52	50	20	19	32	94	27	29	52	34
Other Investing Activities, net	97	363	46	14	-107	-15	-	3.88	-	-13
Net Cash From Financing Activities	2,119	2,101	-1,693	-2,259	875	1,831	-97	-959	-587	93
Net Cash From Continuing Financing Activities	2,119	2,101	-1,693	-2,259	875	1,831	-97	-959	-587	93
Repayment of Debt	-2,138	-1,358	-890	-592	-1,514	-926	-1,561	-1,516	-1,105	-550
Repurchase of Preferred Equity	-365	0.00	0.00	-	-	-	-	-	-	-
Repurchase of Common Equity	-159	0.00	0.00	-	-	-	-	-	-	-
Payment of Dividends	-2,313	-1,839	-1,672	-1,667	-1,605	-1,458	-1,339	-1,106	-1,067	-1,045
Issuance of Debt	7,094	5,298	869	0.00	3,025	4,185	1,796	1,190	1,564	1,292
Cash Interest Paid	1,297	653	582	692	761	435	418	432	461	368
Cash Income Taxes Paid	102	37	59	9.00	0.34	2.69	2.23	6.63	0.36	3.32

This table details how cash moves in and out of ONEOK's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-592	-5,731	6,428	-29	-273	54	178	-574	460	198	-114
Net Cash From Operating Activities	904	1,611	1,251	1,430	596	1,508	920	772	1,221	1,040	616
Net Cash From Continuing Operating Activities	904	1,611	1,251	1,430	596	1,508	920	772	1,221	1,040	616
Net Income / (Loss) Continuing Operations	691	1,000	693	780	639	688	454	468	1,049	485	432
Consolidated Net Income / (Loss)	691	1,000	693	780	639	688	454	468	1,049	485	432
Depreciation Expense	380	344	274	262	254	260	177	170	162	157	157
Non-Cash Adjustments To Reconcile Net Income	-7.00	-272	-7.00	122	-119	-81	78	-	-274	350	-1.00
Changes in Operating Assets and Liabilities, net	-160	539	291	266	-178	641	211	134	284	48	28
Net Cash From Investing Activities	-694	-4,780	-498	-756	-578	-645	-5,406	-400	47	-275	-321
Net Cash From Continuing Investing Activities	-694	-4,780	-498	-756	-578	-645	-5,406	-400	47	-275	-321
Purchase of Property, Plant & Equipment	-629	-562	-468	-479	-512	-603	-398	-305	-289	-316	-327
Purchase of Investments	-82	-9.00	-4.00	-6.00	-92	-96	-3.00	-106	-2.00	-1.00	-1.00
Other Investing Activities, net	17	15	1.00	80	1.00	29	1.00	3.00	330	40	2.00
Net Cash From Financing Activities	-802	-2,562	5,675	-703	-291	-809	4,664	-946	-808	-567	-409
Net Cash From Continuing Financing Activities	-802	-2,562	5,675	-703	-291	-809	4,664	-946	-808	-567	-409
Repayment of Debt	-329	-1,571	-549	-305	287	-253	-146	-528	-431	4.00	-892
Repurchase of Common Equity	-30	-	-	-	-	-	-	-	-	-	-
Payment of Dividends	-643	-579	-578	-578	-578	-556	-428	-428	-427	-419	-418
Issuance of Debt	200	112	6,802	180	0.00	-	5,238	10	50	-152	901

This table presents ONEOK's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	64,069	44,266	24,379	23,622	23,079	21,812	18,232	16,846	16,139	15,446
Total Current Assets	4,238	3,108	2,548	2,374	1,870	1,470	1,399	1,764	1,430	975
Cash & Equivalents	733	338	220	146	524	21	12	37	249	98
Accounts Receivable	2,326	1,705	1,532	1,442	830	835	819	1,203	872	594
Inventories, net	748	639	581	581	371	507	438	433	201	205
Other Current Assets	431	426	215	205	144	108	130	92	107	79
Plant, Property, & Equipment, net	45,935	32,697	19,952	19,320	19,155	18,349	14,767	12,698	12,571	12,374
Plant, Property & Equipment, gross	52,274	38,454	25,015	23,821	23,073	22,051	18,031	15,560	15,078	14,530
Accumulated Depreciation	6,339	5,757	5,063	4,501	3,918	3,703	3,264	2,862	2,507	2,156
Total Noncurrent Assets	13,896	8,461	1,879	1,927	2,054	1,993	2,066	2,383	2,138	2,097
Long-Term Investments	2,316	1,874	802	798	805	862	969	1,003	959	948
Goodwill	8,091	4,952	528	763	774	958	967	993	1,005	1,017
Intangible Assets	3,039	1,316	225	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	450	319	324	366	475	173	130	181	163	113
Total Liabilities & Shareholders' Equity	64,069	44,266	24,379	23,622	23,079	21,812	18,232	16,846	16,139	15,446
Total Liabilities	41,936	27,782	17,885	17,606	17,036	15,586	11,652	11,161	12,710	11,680
Total Current Liabilities	4,719	3,452	3,051	3,185	1,345	2,020	2,108	2,667	2,837	1,638
Short-Term Debt	1,059	484	925	896	7.65	228	508	1,047	1,521	657
Accounts Payable	2,187	1,564	1,359	1,332	719	1,210	1,116	1,141	875	616
Current Deferred & Payable Income Tax Liabilities	221	215	136	0.00	89	75	-	-	-	-
Other Current Liabilities	741	808	398	721	283	317	323	344	309	207
Other Current Nonoperating Liabilities	511	381	233	236	245	191	161	135	132	158
Total Noncurrent Liabilities	37,217	24,330	14,834	14,422	15,692	13,566	9,544	8,493	9,873	10,042
Long-Term Debt	31,018	21,183	12,696	12,748	14,228	12,480	8,873	8,092	7,920	8,324
Noncurrent Deferred & Payable Income Tax Liabilities	5,451	2,594	1,739	1,167	670	536	220	53	1,624	1,437
Other Noncurrent Operating Liabilities	748	553	331	432	706	537	451	349	322	264
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	22,133	16,484	6,494	6,015	6,042	6,226	6,580	5,685	3,429	3,766
Total Preferred & Common Equity	17,036	16,484	6,494	6,015	6,042	6,226	6,580	5,528	189	336
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Common Equity	17,036	16,484	6,494	6,015	6,042	6,226	6,580	5,528	189	336
Common Stock	16,360	16,326	7,258	7,219	7,358	7,408	7,620	6,593	1,237	1,381
Retained Earnings	1,579	868	50	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Treasury Stock	-807	-677	-706	-732	-764	-808	-852	-877	-894	-918
Accumulated Other Comprehensive Income / (Loss)	-96	-33	-108	-471	-551	-374	-188	-189	-154	-127
Noncontrolling Interest	5,097	0.00	-	-	-	-	-	157	3,240	3,431

This table presents ONEOK's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	64,263	64,069	51,050	44,535	44,390	44,266	43,939	24,038	24,464	24,379	24,439
Total Current Assets	4,116	4,238	2,876	2,475	2,950	3,108	3,188	1,863	2,569	2,548	2,765
Cash & Equivalents	141	733	579	36	65	338	284	106	680	220	22
Accounts Receivable	2,651	2,326	1,252	1,330	1,699	1,705	1,571	1,023	1,153	1,532	1,729
Inventories, net	905	748	773	824	951	639	1,011	460	556	581	693
Other Current Assets	419	431	272	285	235	426	322	274	180	215	321
Plant, Property, & Equipment, net	46,230	45,935	33,613	33,415	32,807	32,697	32,089	20,229	20,040	19,952	19,790
Plant, Property & Equipment, gross	52,888	52,274	40,073	39,627	38,796	38,454	37,626	25,601	25,252	25,015	24,727
Accumulated Depreciation	6,658	6,339	6,460	6,212	5,989	5,757	5,537	5,372	5,212	5,063	4,937
Total Noncurrent Assets	13,917	13,896	14,561	8,645	8,633	8,461	8,662	1,946	1,855	1,879	1,884
Long-Term Investments	2,405	2,316	1,925	1,937	1,939	1,874	1,795	885	789	802	804
Goodwill	8,094	8,091	5,148	5,112	5,056	4,952	5,682	748	750	528	755
Intangible Assets	3,002	3,039	1,283	1,297	1,311	1,316	861	-	-	225	-
Other Noncurrent Operating Assets	416	450	6,205	299	327	319	324	313	316	324	325
Total Liabilities & Shareholders' Equity	64,263	64,069	51,050	44,535	44,390	44,266	43,939	24,038	24,464	24,379	24,439
Total Liabilities	42,143	41,936	34,163	27,826	27,945	27,782	27,640	16,820	17,332	17,885	18,127
Total Current Liabilities	6,183	4,719	3,557	3,979	4,194	3,452	3,298	1,517	2,182	3,051	4,139
Short-Term Debt	2,259	1,059	1,257	1,534	1,554	484	500	0.00	500	925	1,826
Accounts Payable	2,437	2,187	1,247	1,271	1,480	1,564	1,619	880	1,074	1,359	1,659
Other Current Liabilities	1,026	741	584	654	723	808	741	293	321	398	533
Other Current Nonoperating Liabilities	461	511	253	355	268	381	218	214	137	233	120
Total Noncurrent Liabilities	35,960	37,217	30,606	23,847	23,751	24,330	24,342	15,303	15,150	14,834	13,988
Long-Term Debt	29,781	31,018	26,880	20,339	20,447	21,183	21,450	12,742	12,728	12,696	11,951
Noncurrent Deferred & Payable Income Tax Liabilities	5,591	5,451	3,154	2,956	2,745	2,594	2,349	2,168	2,027	1,739	1,593
Other Noncurrent Operating Liabilities	588	748	572	552	559	553	466	330	395	331	375
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	22,120	22,133	16,887	16,709	16,445	16,484	16,299	7,218	7,132	6,494	6,312
Total Preferred & Common Equity	21,364	17,036	16,887	16,709	16,445	16,484	16,299	7,218	7,132	6,494	6,312
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	21,364	17,036	16,887	16,709	16,445	16,484	16,299	7,218	7,132	6,494	6,312
Common Stock	20,728	16,360	16,368	16,344	16,309	16,326	16,321	7,275	7,258	7,258	7,223
Retained Earnings	1,569	1,579	1,237	1,126	927	868	737	711	672	50	0.00
Treasury Stock	-810	-807	-650	-653	-663	-677	-691	-693	-699	-706	-712
Accumulated Other Comprehensive Income / (Loss)	-123	-96	-68	-108	-128	-33	-68	-75	-99	-108	-199
Noncontrolling Interest	756	5,097	-	-	-	0.00	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from ONEOK's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.75%	-21.04%	35.35%	93.63%	-15.96%	-19.29%	3.44%	36.46%	14.91%	-36.34%
EBITDA Growth	25.27%	44.83%	5.81%	63.74%	-18.14%	6.68%	26.56%	5.86%	24.73%	-5.59%
EBIT Growth	21.17%	49.78%	7.05%	87.23%	-27.94%	5.61%	32.80%	6.50%	29.84%	-11.46%
NOPAT Growth	22.01%	44.12%	9.46%	88.76%	-29.86%	6.15%	75.98%	-21.30%	37.13%	-21.15%
Net Income Growth	17.04%	54.41%	14.80%	144.77%	-52.07%	10.70%	94.61%	-20.17%	96.07%	-42.82%
EPS Growth	-5.66%	42.71%	14.63%	135.92%	-53.75%	10.43%	115.50%	-22.29%	43.10%	-22.15%
Operating Cash Flow Growth	10.56%	52.13%	14.14%	34.07%	-2.45%	-10.97%	66.24%	-2.79%	32.30%	-20.44%
Free Cash Flow Firm Growth	16.31%	-876.89%	-19.76%	17,077.43%	100.79%	-1,031.58%	113.12%	-224.18%	2,023.33%	95.36%
Invested Capital Growth	42.27%	87.27%	1.94%	-1.33%	5.63%	20.57%	8.78%	18.05%	-0.56%	7.15%
Revenue Q/Q Growth	8.85%	1.16%	-1.70%	20.81%	45.89%	43.91%	-35.76%	36.75%	-13.65%	-10.53%
EBITDA Q/Q Growth	9.43%	11.06%	3.20%	3.62%	4.33%	1.82%	3.11%	4.71%	5.36%	-3.58%
EBIT Q/Q Growth	9.75%	10.28%	3.81%	4.49%	4.12%	1.46%	3.47%	5.82%	6.57%	-5.96%
NOPAT Q/Q Growth	10.20%	8.69%	4.79%	3.92%	3.82%	1.21%	23.38%	-19.70%	11.48%	-10.31%
Net Income Q/Q Growth	11.14%	8.27%	6.52%	5.02%	-1.96%	2.19%	24.60%	-17.93%	42.76%	-37.73%
EPS Q/Q Growth	9.77%	0.37%	6.96%	3.08%	-2.07%	1.99%	26.94%	-19.38%	22.06%	-22.15%
Operating Cash Flow Q/Q Growth	2.15%	11.84%	-0.51%	11.32%	10.21%	-2.52%	15.34%	-3.79%	8.28%	-7.87%
Free Cash Flow Firm Q/Q Growth	-301.88%	2.35%	2.70%	7.79%	101.27%	-39.72%	-66.65%	-11.17%	39.47%	94.88%
Invested Capital Q/Q Growth	20.81%	-0.40%	-0.30%	-0.58%	-0.13%	5.62%	3.34%	-0.89%	-0.55%	1.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.65%	32.52%	20.00%	25.89%	40.18%	33.22%	25.18%	21.65%	27.18%	27.34%
EBITDA Margin	28.46%	27.89%	15.21%	19.45%	23.00%	23.61%	17.86%	14.60%	18.82%	17.34%
Operating Margin	22.99%	23.04%	12.54%	15.70%	15.94%	18.83%	14.58%	11.43%	14.53%	12.83%
EBIT Margin	23.24%	23.54%	12.41%	15.69%	16.23%	18.92%	14.46%	11.26%	14.43%	12.78%
Profit (Net Income) Margin	14.34%	15.04%	7.69%	9.07%	7.17%	12.58%	9.17%	4.88%	8.33%	4.88%
Tax Burden Percent	75.72%	76.04%	76.53%	75.60%	76.38%	77.44%	76.09%	57.03%	77.61%	72.66%
Interest Burden Percent	81.52%	84.04%	80.99%	76.45%	57.89%	85.84%	83.35%	75.90%	74.39%	52.62%
Effective Tax Rate	24.28%	23.96%	23.47%	24.40%	23.62%	22.56%	23.91%	42.97%	22.17%	26.17%
Return on Invested Capital (ROIC)	8.59%	11.11%	11.18%	10.25%	5.54%	8.88%	9.61%	6.17%	8.53%	6.42%
ROIC Less NNEP Spread (ROIC-NNEP)	5.89%	8.44%	7.89%	6.72%	2.16%	6.90%	6.73%	3.76%	5.31%	1.71%
Return on Net Nonoperating Assets (RNNOA)	7.53%	12.03%	16.35%	14.63%	4.45%	11.09%	9.22%	6.85%	12.14%	3.34%
Return on Equity (ROE)	16.12%	23.14%	27.53%	24.88%	9.99%	19.97%	18.83%	13.02%	20.67%	9.76%
Cash Return on Invested Capital (CROIC)	-26.31%	-49.65%	9.27%	11.58%	0.07%	-9.77%	1.21%	-10.38%	9.09%	-0.49%
Operating Return on Assets (OROA)	9.31%	12.12%	11.57%	11.11%	6.18%	9.61%	10.38%	8.32%	8.15%	6.46%
Return on Assets (ROA)	5.75%	7.75%	7.17%	6.42%	2.73%	6.39%	6.59%	3.60%	4.71%	2.47%
Return on Common Equity (ROCE)	13.99%	23.14%	27.53%	24.88%	9.99%	19.97%	18.59%	8.17%	1.51%	1.17%
Return on Equity Simple (ROE_SIMPLE)	18.27%	16.13%	26.52%	24.94%	10.14%	20.54%	17.55%	10.74%	393.92%	112.92%
Net Operating Profit after Tax (NOPAT)	3,778	3,096	2,148	1,963	1,040	1,483	1,397	794	1,008	735
NOPAT Margin	17.41%	17.52%	9.60%	11.87%	12.17%	14.59%	11.09%	6.52%	11.30%	9.47%
Net Nonoperating Expense Percent (NNEP)	2.70%	2.67%	3.29%	3.53%	3.38%	1.98%	2.88%	2.41%	3.22%	4.70%
Return On Investment Capital (ROIC_SIMPLE)	6.97%	8.12%	10.64%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.35%	67.48%	80.00%	74.11%	59.82%	66.78%	74.82%	78.35%	72.82%	72.66%
SG&A Expenses to Revenue	9.96%	7.46%	4.28%	5.44%	8.91%	8.50%	6.38%	5.95%	7.38%	7.80%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.66%	9.48%	7.46%	10.20%	24.24%	14.38%	10.60%	10.22%	12.66%	14.50%
Earnings before Interest and Taxes (EBIT)	5,042	4,161	2,778	2,595	1,386	1,923	1,821	1,371	1,288	992
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,176	4,930	3,404	3,217	1,965	2,400	2,250	1,778	1,679	1,346
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.41	2.34	4.02	3.72	2.24	3.58	2.28	2.38	39.14	8.76
Price to Tangible Book Value (P/TBV)	9.83	3.77	4.55	4.26	2.57	4.23	2.68	2.90	0.00	0.00
Price to Revenue (P/Rev)	2.67	2.18	1.17	1.35	1.59	2.19	1.19	1.08	0.83	0.38
Price to Earnings (P/E)	19.13	14.50	15.18	14.94	22.16	17.44	13.05	34.02	20.98	12.01
Dividend Yield	3.99%	5.77%	6.40%	7.45%	12.26%	6.55%	8.89%	7.92%	7.01%	17.29%
Earnings Yield	5.23%	6.89%	6.59%	6.69%	4.51%	5.73%	7.66%	2.94%	4.77%	8.33%
Enterprise Value to Invested Capital (EV/IC)	1.78	1.60	2.00	1.85	1.38	1.87	1.55	1.54	1.60	1.21
Enterprise Value to Revenue (EV/Rev)	4.25	3.28	1.73	2.13	3.11	3.36	1.86	1.76	2.11	1.84
Enterprise Value to EBITDA (EV/EBITDA)	14.92	11.77	11.40	10.93	13.51	14.22	10.41	12.05	11.23	10.63
Enterprise Value to EBIT (EV/EBIT)	18.28	13.94	13.97	13.55	19.15	17.74	12.86	15.62	14.65	14.43
Enterprise Value to NOPAT (EV/NOPAT)	24.40	18.74	18.06	17.92	25.53	23.01	16.76	27.00	18.70	19.45
Enterprise Value to Operating Cash Flow (EV/OCF)	18.85	13.12	13.35	13.81	13.98	17.52	10.71	16.29	13.94	13.99
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	21.79	15.85	2,055.49	0.00	133.69	0.00	17.55	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.45	1.31	2.11	2.28	2.37	2.04	1.43	1.61	2.75	2.38
Long-Term Debt to Equity	1.40	1.29	1.97	2.13	2.37	2.01	1.35	1.42	2.31	2.21
Financial Leverage	1.28	1.42	2.07	2.18	2.06	1.61	1.37	1.82	2.29	1.95
Leverage Ratio	2.81	2.99	3.84	3.87	3.66	3.13	2.86	3.62	4.39	3.95
Compound Leverage Factor	2.29	2.51	3.11	2.96	2.12	2.68	2.38	2.75	3.27	2.08
Debt to Total Capital	59.17%	56.79%	67.82%	69.52%	70.33%	67.14%	58.78%	61.65%	73.36%	70.45%
Short-Term Debt to Total Capital	1.95%	1.27%	4.58%	4.54%	0.04%	1.20%	3.18%	7.06%	11.82%	5.15%
Long-Term Debt to Total Capital	57.22%	55.52%	63.24%	64.98%	70.29%	65.94%	55.60%	54.58%	61.54%	65.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	9.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.06%	25.18%	26.91%
Common Equity to Total Capital	31.43%	43.21%	32.18%	30.48%	29.67%	32.86%	41.22%	37.29%	1.47%	2.63%
Debt to EBITDA	5.19	4.39	4.02	4.26	7.29	5.30	4.17	5.14	5.62	6.67
Net Debt to EBITDA	4.70	3.95	3.72	3.97	6.61	4.93	3.73	4.56	4.90	5.89
Long-Term Debt to EBITDA	5.02	4.30	3.75	3.99	7.29	5.21	3.94	4.55	4.72	6.18
Debt to NOPAT	8.49	7.00	6.37	6.99	13.78	8.58	6.72	11.51	9.36	12.21
Net Debt to NOPAT	7.68	6.28	5.90	6.51	12.50	7.99	6.01	10.20	8.16	10.79
Long-Term Debt to NOPAT	8.21	6.84	5.94	6.53	13.77	8.43	6.35	10.20	7.85	11.32
Altman Z-Score	1.45	1.56	2.15	1.78	1.07	1.58	1.75	1.64	1.06	0.81
Noncontrolling Interest Sharing Ratio	13.20%	0.00%	0.00%	0.00%	0.00%	0.00%	1.28%	37.28%	92.71%	88.06%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.90	0.90	0.84	0.75	1.39	0.73	0.66	0.66	0.50	0.60
Quick Ratio	0.65	0.59	0.57	0.50	1.01	0.42	0.39	0.46	0.40	0.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-11,574	-13,830	1,780	2,219	13	-1,632	175	-1,335	1,075	-56
Operating Cash Flow to CapEx	241.86%	277.18%	241.76%	365.28%	86.50%	50.59%	102.11%	256.72%	225.83%	86.35%
Free Cash Flow to Firm to Interest Expense	-8.44	-15.97	2.63	3.03	0.02	-3.32	0.37	-2.75	2.29	-0.13
Operating Cash Flow to Interest Expense	3.57	5.11	4.30	3.47	2.66	3.96	4.66	2.71	2.88	2.45
Operating Cash Flow Less CapEx to Interest Expense	2.09	3.26	2.52	2.52	-0.42	-3.87	0.10	1.65	1.61	-0.39
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.52	0.93	0.71	0.38	0.51	0.72	0.74	0.56	0.51
Accounts Receivable Turnover	10.77	10.92	15.06	14.56	10.26	12.29	12.46	11.73	12.17	11.59
Inventory Turnover	19.19	19.56	30.83	25.75	11.64	14.37	21.65	30.11	32.02	28.58
Fixed Asset Turnover	0.55	0.67	1.14	0.86	0.46	0.61	0.92	0.96	0.72	0.65
Accounts Payable Turnover	7.10	8.16	13.31	11.95	5.30	5.84	8.35	9.47	8.72	7.48
Days Sales Outstanding (DSO)	33.90	33.42	24.24	25.06	35.57	29.70	29.30	31.11	30.00	31.49
Days Inventory Outstanding (DIO)	19.02	18.66	11.84	14.17	31.34	25.39	16.86	12.12	11.40	12.77
Days Payable Outstanding (DPO)	51.43	44.72	27.42	30.55	68.90	62.54	43.71	38.56	41.88	48.77
Cash Conversion Cycle (CCC)	1.49	7.37	8.66	8.69	-1.98	-7.45	2.45	4.67	-0.48	-4.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	51,672	36,320	19,394	19,026	19,282	18,255	15,141	13,919	11,791	11,857
Invested Capital Turnover	0.49	0.63	1.17	0.86	0.46	0.61	0.87	0.95	0.75	0.68
Increase / (Decrease) in Invested Capital	15,352	16,926	368	-256	1,027	3,114	1,222	2,128	-66	791
Enterprise Value (EV)	92,155	58,008	38,795	35,171	26,548	34,116	23,414	21,425	18,860	14,307
Market Capitalization	58,030	38,553	26,128	22,396	13,554	22,278	15,014	13,169	7,387	2,942
Book Value per Share	$29.16	$28.30	$14.53	$13.49	$13.60	$15.07	$15.99	$14.42	$0.90	$1.60
Tangible Book Value per Share	$10.11	$17.54	$12.84	$11.78	$11.86	$12.75	$13.64	$11.83	($3.88)	($3.26)
Total Capital	54,210	38,151	20,183	19,734	20,366	18,947	15,961	14,824	12,870	12,747
Total Debt	32,077	21,667	13,689	13,719	14,324	12,721	9,381	9,139	9,441	8,981
Total Long-Term Debt	31,018	21,183	12,764	12,823	14,316	12,493	8,873	8,092	7,920	8,324
Net Debt	29,028	19,455	12,667	12,775	12,994	11,838	8,400	8,099	8,233	7,935
Capital Expenditures (CapEx)	2,021	1,595	1,202	697	2,195	3,848	2,141	512	599	1,184
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-155	-198	202	-61	8.38	-343	-214	107	-135	-104
Debt-free Net Working Capital (DFNWC)	578	140	422	86	533	-322	-202	144	114	-6.07
Net Working Capital (NWC)	-481	-344	-503	-810	525	-550	-710	-903	-1,407	-663
Net Nonoperating Expense (NNE)	666	437	426	463	427	204	242	200	265	356
Net Nonoperating Obligations (NNO)	29,539	19,836	12,900	13,011	13,239	12,029	8,561	8,234	8,362	8,091
Total Depreciation and Amortization (D&A)	1,134	769	626	622	579	477	429	406	392	355
Debt-free, Cash-free Net Working Capital to Revenue	-0.71%	-1.12%	0.90%	-0.37%	0.10%	-3.38%	-1.70%	0.88%	-1.51%	-1.34%
Debt-free Net Working Capital to Revenue	2.66%	0.79%	1.89%	0.52%	6.24%	-3.17%	-1.61%	1.19%	1.28%	-0.08%
Net Working Capital to Revenue	-2.22%	-1.95%	-2.25%	-4.90%	6.15%	-5.41%	-5.64%	-7.42%	-15.77%	-8.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.19	$5.49	$3.85	$3.36	$1.42	$3.09	$2.80	$1.30	$1.67	$1.17
Adjusted Weighted Average Basic Shares Outstanding	584.60M	484.30M	447.51M	446.40M	431.11M	413.56M	411.49M	297.48M	211.13M	210.21M
Adjusted Diluted Earnings per Share	$5.17	$5.48	$3.84	$3.35	$1.42	$3.07	$2.78	$1.29	$1.66	$1.16
Adjusted Weighted Average Diluted Shares Outstanding	586.50M	485.40M	448.45M	447.40M	431.78M	415.44M	414.20M	299.78M	212.38M	210.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	624.34M	583.16M	447.22M	446.21M	444.98M	413.32M	411.61M	410.63M	210.76M	209.99M
Normalized Net Operating Profit after Tax (NOPAT)	3,833	3,216	2,148	1,963	1,504	1,485	1,396	802	1,001	793
Normalized NOPAT Margin	17.66%	18.20%	9.60%	11.87%	17.60%	14.61%	11.09%	6.59%	11.22%	10.22%
Pre Tax Income Margin	18.94%	19.78%	10.05%	12.00%	9.39%	16.24%	12.05%	8.55%	10.74%	6.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.68	4.80	4.11	3.54	1.94	3.91	3.88	2.82	2.74	2.38
NOPAT to Interest Expense	2.76	3.58	3.18	2.68	1.46	3.01	2.97	1.63	2.15	1.76
EBIT Less CapEx to Interest Expense	2.20	2.96	2.33	2.59	-1.14	-3.91	-0.68	1.77	1.47	-0.46
NOPAT Less CapEx to Interest Expense	1.28	1.73	1.40	1.73	-1.62	-4.81	-1.59	0.58	0.87	-1.08
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	74.33%	69.16%	97.10%	111.13%	261.97%	114.00%	115.89%	186.29%	143.51%	275.59%
Augmented Payout Ratio	79.43%	69.16%	97.10%	111.13%	261.97%	114.00%	115.89%	186.29%	143.51%	275.59%

This table displays calculated financial ratios and metrics derived from ONEOK's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	68.23%	33.72%	19.91%	31.14%	5.75%	4.03%	-29.17%	-37.76%	-16.97%	-7.16%	30.37%
EBITDA Growth	20.91%	37.86%	51.28%	62.50%	-20.52%	53.72%	10.48%	9.79%	107.60%	13.04%	3.07%
EBIT Growth	14.10%	39.13%	50.46%	64.40%	-28.84%	51.26%	9.97%	10.29%	131.90%	15.55%	3.42%
NOPAT Growth	18.27%	42.10%	52.01%	66.54%	-29.51%	42.31%	5.17%	7.51%	125.69%	20.20%	5.25%
Net Income Growth	8.14%	45.35%	52.64%	66.67%	-39.08%	41.86%	5.09%	13.04%	168.29%	27.74%	10.20%
EPS Growth	-4.59%	41.44%	19.19%	27.88%	-53.42%	1.83%	3.13%	13.04%	168.97%	29.76%	9.09%
Operating Cash Flow Growth	51.68%	6.83%	35.98%	85.23%	-51.19%	45.00%	49.35%	-1.91%	163.71%	-1.41%	49.09%
Free Cash Flow Firm Growth	14.60%	11.95%	66.86%	-3,049.22%	-1,475.96%	-7,561.79%	-7,594.88%	33.86%	105.06%	-70.91%	-67.68%
Invested Capital Growth	41.86%	42.27%	17.30%	92.06%	92.93%	87.27%	87.45%	-0.03%	-0.46%	1.94%	1.66%
Revenue Q/Q Growth	14.90%	39.36%	2.64%	2.36%	-8.67%	24.97%	12.25%	-17.45%	-10.16%	-14.91%	-1.37%
EBITDA Q/Q Growth	-17.29%	36.50%	-5.08%	12.83%	-5.69%	49.79%	1.96%	-44.81%	82.39%	7.66%	1.31%
EBIT Q/Q Growth	-23.29%	39.13%	-7.14%	15.13%	-6.46%	50.46%	1.47%	-50.17%	98.81%	9.39%	1.76%
NOPAT Q/Q Growth	-19.60%	37.75%	-8.53%	16.74%	-3.39%	47.35%	0.21%	-50.59%	95.04%	8.89%	2.44%
Net Income Q/Q Growth	-30.90%	44.30%	-11.15%	22.07%	-7.12%	51.54%	-2.99%	-55.39%	116.29%	12.27%	4.35%
EPS Q/Q Growth	-33.76%	33.05%	-11.28%	22.02%	-1.80%	12.12%	-4.81%	-55.56%	114.68%	13.54%	4.35%
Operating Cash Flow Q/Q Growth	-43.89%	28.78%	-12.52%	139.93%	-60.48%	63.91%	19.17%	-36.77%	17.40%	68.83%	-21.73%
Free Cash Flow Firm Q/Q Growth	-1.72%	-159.98%	67.52%	0.58%	-4.87%	2.14%	-2,990.68%	-53.62%	468.72%	-1.71%	-48.37%
Invested Capital Q/Q Growth	0.78%	20.81%	15.72%	0.69%	1.07%	-0.40%	89.47%	1.15%	-1.89%	-0.30%	1.04%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.69%	35.77%	39.74%	40.93%	39.41%	36.94%	33.18%	33.49%	25.97%	22.64%	19.29%
EBITDA Margin	19.92%	27.67%	28.25%	30.55%	27.71%	26.84%	22.39%	24.65%	36.87%	18.16%	14.36%
Operating Margin	15.17%	22.40%	22.46%	25.11%	22.25%	20.99%	17.64%	19.75%	33.11%	15.02%	11.84%
EBIT Margin	15.19%	22.76%	22.80%	25.19%	22.40%	21.87%	18.17%	20.10%	33.29%	15.04%	11.70%
Profit (Net Income) Margin	8.59%	14.29%	13.80%	15.94%	13.37%	13.14%	10.84%	12.54%	23.20%	9.64%	7.30%
Tax Burden Percent	77.82%	75.30%	75.99%	76.25%	75.44%	75.60%	76.30%	76.35%	76.07%	77.23%	76.60%
Interest Burden Percent	72.67%	83.36%	79.65%	82.97%	79.09%	79.48%	78.19%	81.73%	91.63%	82.96%	81.50%
Effective Tax Rate	22.18%	24.70%	24.01%	23.75%	24.56%	24.40%	23.70%	23.65%	23.93%	22.77%	23.40%
Return on Invested Capital (ROIC)	6.64%	8.32%	8.59%	13.01%	10.81%	10.07%	8.41%	15.04%	28.35%	13.52%	10.70%
ROIC Less NNEP Spread (ROIC-NNEP)	5.61%	7.59%	7.87%	12.04%	9.79%	9.20%	7.75%	14.29%	27.63%	12.76%	9.91%
Return on Net Nonoperating Assets (RNNOA)	7.30%	9.70%	10.92%	16.24%	13.35%	13.11%	11.42%	26.96%	52.66%	26.43%	21.56%
Return on Equity (ROE)	13.94%	18.02%	19.51%	29.25%	24.16%	23.18%	19.83%	42.00%	81.01%	39.95%	32.27%
Cash Return on Invested Capital (CROIC)	-25.78%	-26.31%	-7.27%	-51.89%	-53.54%	-49.65%	-50.66%	14.69%	15.05%	9.27%	8.98%
Operating Return on Assets (OROA)	6.98%	9.12%	9.57%	14.03%	11.67%	11.26%	9.28%	15.89%	29.49%	14.03%	11.03%
Return on Assets (ROA)	3.95%	5.72%	5.79%	8.88%	6.96%	6.77%	5.54%	9.92%	20.55%	8.99%	6.89%
Return on Common Equity (ROCE)	13.67%	15.64%	19.51%	29.25%	24.16%	23.18%	19.83%	42.00%	81.01%	39.95%	32.27%
Return on Equity Simple (ROE_SIMPLE)	14.81%	0.00%	16.58%	15.33%	13.68%	0.00%	15.07%	33.72%	33.37%	0.00%	25.61%
Net Operating Profit after Tax (NOPAT)	949	1,181	857	937	803	831	564	563	1,139	584	536
NOPAT Margin	11.80%	16.87%	17.06%	19.15%	16.79%	15.87%	13.46%	15.08%	25.19%	11.60%	9.07%
Net Nonoperating Expense Percent (NNEP)	1.03%	0.73%	0.71%	0.97%	1.02%	0.87%	0.66%	0.75%	0.72%	0.76%	0.79%
Return On Investment Capital (ROIC_SIMPLE)	1.75%	2.18%	-	-	-	2.18%	-	-	-	2.89%	-
Cost of Revenue to Revenue	70.31%	64.23%	60.26%	59.07%	60.59%	63.06%	66.82%	66.51%	74.03%	77.36%	80.71%
SG&A Expenses to Revenue	8.14%	9.63%	10.19%	10.01%	10.17%	9.09%	7.35%	7.93%	5.29%	5.47%	4.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.52%	13.37%	17.28%	15.82%	17.15%	15.95%	15.54%	13.75%	-7.14%	7.61%	7.46%
Earnings before Interest and Taxes (EBIT)	1,222	1,593	1,145	1,233	1,071	1,145	761	750	1,505	757	692
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,602	1,937	1,419	1,495	1,325	1,405	938	920	1,667	914	849
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.90	3.41	3.15	2.81	2.77	2.34	1.65	3.58	3.67	4.02	3.24
Price to Tangible Book Value (P/TBV)	6.03	9.83	5.09	4.57	4.52	3.77	2.76	3.99	4.10	4.55	3.69
Price to Revenue (P/Rev)	2.48	2.67	2.67	2.46	2.54	2.18	1.54	1.34	1.22	1.17	0.90
Price to Earnings (P/E)	20.44	19.13	19.02	18.37	20.28	14.50	10.97	10.61	11.00	15.18	12.68
Dividend Yield	4.03%	3.99%	4.31%	4.83%	4.93%	5.77%	6.32%	6.55%	6.42%	6.40%	8.16%
Earnings Yield	4.89%	5.23%	5.26%	5.44%	4.93%	6.89%	9.12%	9.42%	9.09%	6.59%	7.89%
Enterprise Value to Invested Capital (EV/IC)	1.77	1.78	1.84	1.81	1.79	1.60	1.29	1.96	1.99	2.00	1.72
Enterprise Value to Revenue (EV/Rev)	3.69	4.25	3.96	3.50	3.66	3.28	2.68	1.96	1.77	1.73	1.47
Enterprise Value to EBITDA (EV/EBITDA)	14.29	14.92	13.97	12.96	14.29	11.77	10.56	8.65	8.89	11.40	10.16
Enterprise Value to EBIT (EV/EBIT)	17.75	18.28	17.17	15.90	17.60	13.94	12.42	10.16	10.44	13.97	12.52
Enterprise Value to NOPAT (EV/NOPAT)	23.51	24.40	23.00	21.35	23.76	18.74	16.46	13.34	13.64	18.06	16.34
Enterprise Value to Operating Cash Flow (EV/OCF)	17.74	18.85	16.48	15.03	17.28	13.12	11.86	10.31	10.35	13.35	11.47
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	13.31	13.22	21.79	19.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.45	1.45	1.67	1.31	1.34	1.31	1.35	1.77	1.85	2.11	2.19
Long-Term Debt to Equity	1.35	1.40	1.59	1.22	1.24	1.29	1.32	1.77	1.78	1.97	1.90
Financial Leverage	1.30	1.28	1.39	1.35	1.36	1.42	1.47	1.89	1.91	2.07	2.18
Leverage Ratio	2.82	2.81	2.86	2.87	2.92	2.99	3.02	3.64	3.69	3.84	3.98
Compound Leverage Factor	2.05	2.34	2.28	2.38	2.31	2.37	2.36	2.98	3.38	3.18	3.24
Debt to Total Capital	59.16%	59.17%	62.49%	56.69%	57.23%	56.79%	57.47%	63.95%	64.97%	67.82%	68.69%
Short-Term Debt to Total Capital	4.17%	1.95%	2.79%	3.98%	4.04%	1.27%	1.30%	0.00%	2.46%	4.58%	9.06%
Long-Term Debt to Total Capital	54.99%	57.22%	59.70%	52.72%	53.18%	55.52%	56.17%	63.95%	62.51%	63.24%	59.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.40%	9.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.45%	31.43%	37.51%	43.31%	42.77%	43.21%	42.53%	36.05%	35.03%	32.18%	31.31%
Debt to EBITDA	4.97	5.19	4.99	4.24	4.80	4.39	4.96	2.94	3.10	4.02	4.20
Net Debt to EBITDA	4.57	4.70	4.54	3.85	4.36	3.95	4.49	2.72	2.76	3.72	3.95
Long-Term Debt to EBITDA	4.62	5.02	4.76	3.94	4.46	4.30	4.85	2.94	2.98	3.75	3.64
Debt to NOPAT	8.17	8.49	8.21	6.98	7.97	7.00	7.73	4.54	4.76	6.37	6.75
Net Debt to NOPAT	7.52	7.68	7.48	6.35	7.24	6.28	7.00	4.19	4.23	5.90	6.35
Long-Term Debt to NOPAT	7.59	8.21	7.84	6.49	7.41	6.84	7.56	4.54	4.58	5.94	5.86
Altman Z-Score	1.33	1.28	1.42	1.53	1.46	1.34	1.06	1.88	2.04	1.88	1.64
Noncontrolling Interest Sharing Ratio	1.96%	13.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.67	0.90	0.81	0.62	0.70	0.90	0.97	1.23	1.18	0.84	0.67
Quick Ratio	0.45	0.65	0.51	0.34	0.42	0.59	0.56	0.74	0.84	0.57	0.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-14,416	-14,171	-5,451	-16,781	-16,879	-16,095	-16,448	569	1,227	216	219
Operating Cash Flow to CapEx	143.72%	286.65%	267.31%	298.54%	116.41%	250.08%	231.16%	253.11%	422.49%	329.11%	188.38%
Free Cash Flow to Firm to Interest Expense	-32.61	-31.63	-16.77	-56.31	-56.26	-52.77	-76.50	3.16	7.39	1.30	1.31
Operating Cash Flow to Interest Expense	2.05	3.60	3.85	4.80	1.99	4.94	4.28	4.29	7.36	6.27	3.69
Operating Cash Flow Less CapEx to Interest Expense	0.62	2.34	2.41	3.19	0.28	2.97	2.43	2.59	5.61	4.36	1.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.40	0.42	0.56	0.52	0.52	0.51	0.79	0.89	0.93	0.94
Accounts Receivable Turnover	11.48	10.77	14.12	16.23	12.58	10.92	10.59	13.71	15.14	15.06	14.12
Inventory Turnover	17.32	19.19	13.58	18.52	15.23	19.56	14.69	23.49	26.22	30.83	24.96
Fixed Asset Turnover	0.63	0.55	0.61	0.71	0.68	0.67	0.67	0.96	1.09	1.14	1.17
Accounts Payable Turnover	8.20	7.10	8.46	11.05	8.99	8.16	7.64	10.34	12.05	13.31	11.82
Days Sales Outstanding (DSO)	31.81	33.90	25.85	22.48	29.02	33.42	34.47	26.63	24.11	24.24	25.86
Days Inventory Outstanding (DIO)	21.08	19.02	26.87	19.71	23.96	18.66	24.84	15.54	13.92	11.84	14.62
Days Payable Outstanding (DPO)	44.49	51.43	43.17	33.02	40.61	44.72	47.78	35.30	30.30	27.42	30.87
Cash Conversion Cycle (CCC)	8.40	1.49	9.55	9.17	12.37	7.37	11.53	6.87	7.74	8.66	9.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	52,075	51,672	42,773	36,964	36,710	36,320	36,465	19,246	19,028	19,394	19,453
Invested Capital Turnover	0.56	0.49	0.50	0.68	0.64	0.63	0.63	1.00	1.13	1.17	1.18
Increase / (Decrease) in Invested Capital	15,365	15,352	6,308	17,718	17,682	16,926	17,012	-6.33	-88	368	317
Enterprise Value (EV)	92,197	92,155	78,860	66,931	65,584	58,008	46,878	37,633	37,937	38,795	33,499
Market Capitalization	61,947	58,030	53,227	47,031	45,587	38,553	26,930	25,819	26,178	26,128	20,478
Book Value per Share	$34.22	$29.16	$28.91	$28.63	$28.15	$28.30	$36.41	$16.13	$15.95	$14.53	$14.13
Tangible Book Value per Share	$16.45	$10.11	$17.90	$17.65	$17.25	$17.54	$21.79	$14.46	$14.27	$12.84	$12.44
Total Capital	54,160	54,210	45,024	38,582	38,446	38,151	38,326	20,023	20,360	20,183	20,159
Total Debt	32,040	32,077	28,137	21,873	22,001	21,667	22,027	12,805	13,228	13,689	13,847
Total Long-Term Debt	29,781	31,018	26,880	20,339	20,447	21,183	21,527	12,805	12,728	12,764	12,020
Net Debt	29,494	29,028	25,633	19,900	19,997	19,455	19,948	11,814	11,759	12,667	13,021
Capital Expenditures (CapEx)	629	562	468	479	512	603	398	305	289	316	327
Debt-free, Cash-free Net Working Capital (DFCFNWC)	51	-155	-3.00	-6.00	245	-198	106	240	207	202	431
Debt-free Net Working Capital (DFNWC)	192	578	576	30	310	140	390	346	887	422	453
Net Working Capital (NWC)	-2,067	-481	-681	-1,504	-1,244	-344	-110	346	387	-503	-1,373
Net Nonoperating Expense (NNE)	258	181	164	157	164	143	110	95	90	99	104
Net Nonoperating Obligations (NNO)	29,955	29,539	25,886	20,255	20,265	19,836	20,166	12,028	11,896	12,900	13,141
Total Depreciation and Amortization (D&A)	380	344	274	262	254	260	177	170	162	157	157
Debt-free, Cash-free Net Working Capital to Revenue	0.20%	-0.71%	-0.02%	-0.03%	1.37%	-1.12%	0.61%	1.25%	0.96%	0.90%	1.89%
Debt-free Net Working Capital to Revenue	0.77%	2.66%	2.89%	0.16%	1.73%	0.79%	2.23%	1.80%	4.13%	1.89%	1.99%
Net Working Capital to Revenue	-8.28%	-2.22%	-3.42%	-7.87%	-6.94%	-1.95%	-0.63%	1.80%	1.80%	-2.25%	-6.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.04	$1.59	$1.18	$1.33	$1.09	$1.12	$0.99	$1.04	$2.34	$1.09	$0.96
Adjusted Weighted Average Basic Shares Outstanding	611.40M	584.60M	584.80M	584.60M	584.20M	484.30M	457.30M	448.30M	448M	447.50M	447.68M
Adjusted Diluted Earnings per Share	$1.04	$1.57	$1.18	$1.33	$1.09	$1.11	$0.99	$1.04	$2.34	$1.09	$0.96
Adjusted Weighted Average Diluted Shares Outstanding	612.50M	586.50M	586.70M	585.80M	585.70M	485.40M	458.20M	449M	449M	448.40M	448.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	624.63M	624.34M	584.18M	584.07M	583.65M	583.16M	582.55M	447.67M	447.44M	447.22M	446.95M
Normalized Net Operating Profit after Tax (NOPAT)	982	1,181	865	937	803	831	658	563	1,139	584	536
Normalized NOPAT Margin	12.21%	16.87%	17.22%	19.15%	16.79%	15.87%	15.70%	15.08%	25.19%	11.60%	9.07%
Pre Tax Income Margin	11.04%	18.97%	18.16%	20.90%	17.72%	17.38%	14.20%	16.43%	30.50%	12.48%	9.54%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.76	3.56	3.52	4.14	3.57	3.75	3.54	4.17	9.07	4.56	4.14
NOPAT to Interest Expense	2.15	2.64	2.64	3.14	2.68	2.72	2.62	3.13	6.86	3.52	3.21
EBIT Less CapEx to Interest Expense	1.34	2.30	2.08	2.53	1.86	1.78	1.69	2.47	7.33	2.66	2.19
NOPAT Less CapEx to Interest Expense	0.72	1.38	1.20	1.54	0.97	0.75	0.77	1.43	5.12	1.61	1.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	75.16%	74.33%	81.79%	83.56%	88.48%	69.16%	69.30%	69.52%	70.67%	97.10%	103.29%
Augmented Payout Ratio	81.13%	79.43%	81.79%	83.56%	88.48%	69.16%	69.30%	69.52%	70.67%	97.10%	103.29%

Frequently Asked Questions About ONEOK's Financials

When does ONEOK's fiscal year end?

According to the most recent income statement we have on file, ONEOK's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has ONEOK's net income changed over the last 9 years?

ONEOK's net income appears to be on an upward trend, with a most recent value of $3.11 billion in 2024, rising from $379.20 million in 2015. The previous period was $2.66 billion in 2023. See ONEOK's forecast for analyst expectations on what’s next for the company.

What is ONEOK's operating income?

ONEOK's total operating income in 2024 was $4.99 billion, based on the following breakdown:

Total Gross Profit: $8.39 billion
Total Operating Expenses: $3.40 billion

How has ONEOK revenue changed over the last 9 years?

Over the last 9 years, ONEOK's total revenue changed from $7.76 billion in 2015 to $21.70 billion in 2024, a change of 179.5%.

How much debt does ONEOK have?

ONEOK's total liabilities were at $41.94 billion at the end of 2024, a 50.9% increase from 2023, and a 259.0% increase since 2015.

How much cash does ONEOK have?

In the past 9 years, ONEOK's cash and equivalents has ranged from $11.98 million in 2018 to $733 million in 2024, and is currently $733 million as of their latest financial filing in 2024.

How has ONEOK's book value per share changed over the last 9 years?

Over the last 9 years, ONEOK's book value per share changed from 1.60 in 2015 to 29.16 in 2024, a change of 1,717.4%.

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This page (NYSE:OKE) was last updated on 5/29/2025 by MarketBeat.com Staff

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ONEOK (OKE) Financials

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ONEOK (OKE) Financials

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