Zacks Investment Research·6 days ago
Oneok Inc. (OKE) Suffers a Larger Drop Than the General Market: Key InsightsThe latest trading day saw Oneok Inc. (OKE) settling at $85.73, representing a -1.39% change from its previous close.
ONEOK, Inc.(OKE)Earnings, Financials & Key Ratios
OKE•NYSE
$90.67
16.7× P/E·Price updated Jul 7, 2026
AboutONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 17,500 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; six NGL storage facilities; and eight NGL product terminals. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution and electric generation companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.Show more
- Revenue$33.63B+55.4%
- EBITDA$8.48B+37.8%
- Net Income$3.4B+11.9%
- EPS (Diluted)5.42+4.8%
- Gross Margin21.46%-8.0%
- EBITDA Margin25.22%-11.3%
- Operating Margin20.72%-10.7%
- Net Margin10.1%-28.0%
- ROE15.19%-3.4%
OKE Price & Volume
ONEOK, Inc. (OKE) stock price & volume — 10-year historical chart
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Inorganic Growth Pressures Margins and Liquidity Buffers
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Accelerating
Profitability:Moderate
Financial:Strained
Cash Flow:Mixed
Primary Risk:Integration and leverage overhang
Key Thesis Takeaways
- ONEOK has successfully scaled its midstream footprint through aggressive acquisitions, evidenced by a revenue surge to $9.6 billion in 2026Q1, yet this expansion has introduced significant integration risks and margin volatility.
- While the company maintains a robust dividend policy, the compression of net margins to 8.0% and a debt-to-equity ratio of 1.50 suggest that the long-term profitability of the acquired assets remains under pressure.
- Investors should monitor the sustainability of cash flows as capital intensity remains elevated, with CapEx consuming 9.0% of revenue in the most recent quarter.
Verdict Logic
while the company shows a low PEG ratio of 0.54, the combination of a 0.71 current ratio and a 1.50 debt-to-equity ratio warrants caution regarding the company's ability to sustain shareholder returns amid ongoing capital intensity.
OKE Growth Metrics
ONEOK, Inc. (OKE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.91%
5 Years31.8%
3 Years13.71%
TTM41.04%
Profit CAGR
10 Years30.07%
5 Years40.83%
3 Years25.39%
TTM16.52%
EPS CAGR
10 Years16.67%
5 Years30.72%
3 Years12.17%
TTM9.57%
Return on Capital
10 Years11.49%
5 Years12.57%
3 Years11.59%
Last Year11.65%
OKE Recent Earnings
ONEOK, Inc. (OKE) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$1.23-5.4%
$1.30
Rev
$9.6B+16.8%
$8.2B
Q1 2026
Feb 23, 2026Metric
Actual
Est
EPS
$1.55+3.3%
$1.50
Rev
$9.1B+3.6%
$8.7B
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$1.49+3.5%
$1.44
Rev
$8.6B-1.7%
$8.8B
Q3 2025
Aug 4, 2025Metric
Actual
Est
EPS
$1.34+0.8%
$1.33
Rev
$7.9B+2.6%
$7.7B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.23vs $1.30-5.4% | $9.6Bvs $8.2B+16.8% |
| Q1 2026 | Feb 23, 2026 | $1.55vs $1.50+3.3% | $9.1Bvs $8.7B+3.6% |
| Q4 2025 | Oct 28, 2025 | $1.49vs $1.44+3.5% | $8.6Bvs $8.8B-1.7% |
| Q3 2025 | Aug 4, 2025 | $1.34vs $1.33+0.8% | $7.9Bvs $7.7B+2.6% |
Based on last 12 quarters of dataView full earnings history →
Latest OKE News
Recent stock market news and headlines for ONEOK, Inc. (OKE)
247 Wallst·6 days ago
Why Buy Stocks When T-Bills Pay 5%? Jim Cramer’s Blunt AnswerA caller on the June 29 episode of Mad Money laid out the trade that has been eating at retail investors for two years. "If I can get a guaranteed interest rate of over 5% by purchasing a 6-month Treasury bond, why should I invest in the equities market given market conditions?" Jim Cramer did... Why Buy Stocks When T-Bills Pay 5%? Jim Cramer's Blunt Answer
Fool - Investing News·Jun 30, 2026
3 Dividend Stocks Worth Buying More of While the Market Is DistractedSmart investors know the best time to zig is when everyone else is zagging.
ETF Trends·Jun 30, 2026
Why Investors Should Care About Midstream ClassificationsThe energy infrastructure sector includes a range of different business models, from gathering systems at the wellhead to long-haul pipelines and export facilities. Comparing midstream companies without a standardized framework of midstream classifications can be difficult.
Fool - Investing News·Jun 29, 2026
After a Weekend of Skirmishes, the U.S. and Iran Agree to Halt Hostilities. Here's What it Means for Energy Investors.The reopening of the Strait of Hormuz continues to face obstacles.
Peers Comparison
Key metrics vs top competitors for ONEOK, Inc. (OKE)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $90.67 | $57.12B | 16.73 | 55.42% | 10.1% | 15.19% | 4.51% | |
| $75.08 | $91.82B | 35.08 | 13.78% | 23.82% | 18.98% | — | |
| $32.49 | $72.28B | 23.72 | 12.45% | 18.92% | 10.27% | — | |
| $273.81 | $58.77B | 32.14 | 3.06% | 12.98% | 70.77% | — | |
| $146.13 | $14.91B | 32.99 | 26.71% | 36.6% | 9.61% | — | |
| $57.51 | $58.38B | 11.93 | 8.37% | 37.54% | 32.81% | — |
Compare OKE vs Peers
ONEOK, Inc. (OKE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OKE SEC Filings & Documents
ONEOK, Inc. (OKE) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 28, 2026·SEC
Material company update
Mar 25, 2026·SEC
Material company update
Feb 23, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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OKE Frequently Asked Questions
ONEOK, Inc. (OKE) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is ONEOK, Inc.'s revenue?
ONEOK, Inc. (OKE) reported $35.20B in revenue for fiscal year 2025. This represents a 2775% increase from $1.22B in 1996.
How fast is ONEOK, Inc. growing?
ONEOK, Inc. (OKE) grew revenue by 55.4% over the past year. This is strong growth.
Is OKE profitable?
Yes, ONEOK, Inc. (OKE) is profitable, generating $3.53B in net income for fiscal year 2025 (10.1% net margin).
Dividend & Returns
Does OKE pay dividends?
Yes, ONEOK, Inc. (OKE) pays a dividend with a yield of 4.51%. This makes it attractive for income-focused investors.
What is OKE's return on equity?
ONEOK, Inc. (OKE) has a return on equity (ROE) of 15.2%. This is reasonable for most industries.
What is ONEOK, Inc.'s free cash flow?
ONEOK, Inc. (OKE) generated $2.24B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.