ONEOK (OKE) Financials

$79.67 -0.48 (-0.60%)

As of 03:01 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	245	352	387	1,151	1,277	612	1,499	1,721	2,658	3,034
Consolidated Net Income / (Loss)	379	743	594	1,155	1,279	613	1,500	1,722	2,659	3,112
Net Income / (Loss) Continuing Operations	385	746	594	1,155	1,279	613	1,500	1,722	2,659	3,112
Total Pre-Tax Income	522	958	1,041	1,518	1,651	802	1,984	2,250	3,497	4,110
Total Operating Income	996	1,296	1,392	1,835	1,914	1,361	2,596	2,807	4,072	4,989
Total Gross Profit	2,122	2,425	2,636	3,170	3,376	3,432	4,283	4,477	5,748	8,387
Total Revenue	7,763	8,921	12,174	12,593	10,164	8,542	16,540	22,387	17,677	21,698
Operating Revenue	7,763	8,921	12,174	12,593	10,164	8,542	16,540	22,387	17,677	21,698
Total Cost of Revenue	5,641	6,496	9,538	9,423	6,788	5,110	12,257	17,910	11,929	13,311
Operating Cost of Revenue	5,641	6,496	9,538	9,423	6,788	5,110	12,257	17,910	11,929	13,311
Total Operating Expenses	1,126	1,129	1,244	1,335	1,462	2,071	1,687	1,670	1,676	3,398
Selling, General & Admin Expense	606	658	724	803	864	761	900	958	1,319	2,162
Depreciation Expense	355	392	406	429	477	579	622	626	769	1,134
Other Operating Expenses / (Income)	88	89	98	104	119	124	165	86	-570	29
Restructuring Charge	-	-	-	-	-	-	0.00	0.00	158	73
Total Other Income / (Expense), net	-474	-338	-351	-318	-263	-559	-612	-557	-575	-879
Interest Expense	417	470	486	470	492	713	733	676	866	1,371
Interest & Investment Income	-53	140	155	166	219	129	122	148	202	439
Other Income / (Expense), net	-4.39	-8.07	-20	-14	9.06	25	-1.00	-29	89	53
Income Tax Expense	137	212	447	363	372	190	484	528	838	998
Preferred Stock Dividends Declared	0.00	0.00	-0.77	1.10	1.10	1.10	1.00	1.00	1.00	1.00
Net Income / (Loss) Attributable to Noncontrolling Interest	134	391	206	3.33	-	0.00	-	0.00	0.00	77
Basic Earnings per Share	$1.17	$1.67	$1.30	$2.80	$3.09	$1.42	$3.36	$3.85	$5.49	$5.19
Weighted Average Basic Shares Outstanding	210.21M	211.13M	297.48M	411.49M	413.56M	431.11M	446.40M	447.50M	484.30M	584.60M
Diluted Earnings per Share	$1.16	$1.66	$1.29	$2.78	$3.07	$1.42	$3.35	$3.84	$5.48	$5.17
Weighted Average Diluted Shares Outstanding	210.54M	212.38M	299.78M	414.20M	415.44M	431.78M	447.40M	448.40M	485.40M	586.50M
Weighted Average Basic & Diluted Shares Outstanding	209.40M	210.80M	298.30M	411.30M	413.32M	444.98M	446.21M	447.22M	583.16M	624.34M
Cash Dividends to Common per Share	$2.43	$0.00	$2.72	$3.25	$3.53	$3.74	$3.74	$3.74	$3.82	$3.96

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

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

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

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

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

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

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

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

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

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

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 5/6/2025 by MarketBeat.com Staff

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ONEOK (OKE) Financials

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ONEOK (OKE) Financials

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