Saturday 17 October 2026 Export OKE’s income statement to Excel — free account

ONEOK, Inc.

ONEOK, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $33.6 billion, up 55.0% from fiscal 2024. In the quarter to June 2026, revenue grew 52.8%, EPS grew 14.2%, free cash flow grew 85.6% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, operating cash flow growth for five; insiders bought in the last twelve months.

93.39 2.74 +3.02%

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Market cap: $57.2B
P/E: 16.1×
Fwd P/E: 15.5×
Dividend yield: 5.69%
F-score: 5/9
Altman Z: 1.43
Beneish M: −2.14
Dividend safety: 34/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.17

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.24%

Capital & Financial Ratios $m

Market Cap 57,150.00

Revenue 39,366.00

Net Income 3,661.00

Free Cash Flow 2,906.00

Net Debt 31,362.00

Current Ratio 0.74

Debt/Equity 1.37

P/E ratio 16.10

Fwd P/E 15.50

P/S ratio 1.50

P/B ratio 2.56

Past 5Y EPS Growth 30.72%

This Y EPS Growth 6.07%

Next Y EPS Growth 7.21%

Next Y revenue growth 24.12%

Next 5Y EPS Growth 8.33%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 24.18%

10-year low 10-year high

P/S against its own 10 years 38.41%

10-year low 10-year high

P/B against its own 10 years 30.19%

10-year low 10-year high

EV/Sales against its own 10 years 28.71%

10-year low 10-year high

EV/FCF against its own 10 years 58.07%

10-year low 10-year high

Dividends

Payout Ratio 0.92

Annual Dividend Rate 5.31

Annual Dividend Yield 5.69%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	4.28	1.07 1.07 1.07 1.07
2025	4.12	1.03 1.03 1.03 1.03
2024	3.96	0.99 0.99 0.99 0.99
2023	3.82	0.96 0.96 0.96 0.96
2022	3.74	0.94 0.94 0.94 0.94
2021	3.74	0.94 0.94 0.94 0.94
2020	3.74	0.94 0.94 0.94 0.94
2019	3.53	0.86 0.87 0.89 0.92
2018	3.25	0.77 0.80 0.83 0.86
2017	2.72	0.62 0.62 0.75 0.75
2016	2.46	0.62 0.62 0.62 0.62

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	338	733	78	161
Receivables	1,705	2,326	3,010	3,550
Inventory	639	748	948	1,056
Other	426	431	452	543
	3,108	4,238	4,488	5,310

	2023	2024	2025	Q'26
Payables	1,564	2,187	2,838	3,533
ST’ Debt	484	1,059	1,241	750
Other	808	962	967	963
	3,452	4,719	6,365	7,204

Compound Annual Growth %

	10y	5y	3y
Sales	15.79%	31.53%	14.53%
Cash Flow	18.53%	24.14%	24.43%
Earnings	30.06%	40.87%	25.39%
Book Value	19.61%	30.15%	51.47%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	9,618	12,049	—	—	—
’25	8,043	7,887	8,634	9,065	33,629
’24	4,781	4,894	5,023	7,000	21,698
’23	4,521	3,732	4,189	5,235	17,677
’22	5,445	5,996	5,914	5,032	22,387
’21	3,195	3,389	4,536	5,420	16,540
’20	2,137	1,661	2,174	2,571	8,542

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	934	2,053	—	—	—
’25	904	1,525	1,624	1,546	5,599
’24	596	1,430	1,251	1,611	4,888
’23	1,221	772	920	1,508	4,421
’22	463	787	616	1,040	2,906
’21	533	545	413	1,055	2,546
’20	423	314	367	796	1,899

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	70	1,440	—	—	—
’25	275	776	820	576	2,447
’24	84	951	783	1,049	2,867
’23	932	467	522	905	2,826
’22	206	485	289	724	1,704
’21	357	397	247	848	1,849
’20	(527)	(281)	(13)	525	(296)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.23	1.53	—	—	—
’25	1.04	1.34	1.49	1.55	5.42
’24	1.09	1.33	1.18	1.57	5.17
’23	2.34	1.04	0.99	1.18	5.48
’22	0.87	0.92	0.96	1.08	3.84
’21	0.86	0.77	0.88	0.85	3.35
’20	(0.34)	0.32	0.70	0.69	1.42

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	18.88	47.14	50.26	52.72	12.16	37.39	50.50	55.91	67.05	64.02	Analyst estimates 2026–2028 Powerpack
	High	59.47	59.30	71.99	77.21	78.48	66.78	75.07	71.57	118.07	111.02
People
People	Employees	2,384	2,470	2,684	2,882	2,886	2,847	2,966	4,775	5,177	6,326
	Revenue/emp, $m	3.74	4.93	4.69	3.53	2.96	5.81	7.55	3.70	4.19	5.32
Income, $m
Income, $m	Revenue	8,921	12,174	12,593	10,164	8,542	16,540	22,387	17,677	21,698	33,629
	Gross margin, %	27.18	21.65	25.18	33.22	40.18	25.89	20.00	32.52	38.65	30.50
	EBT	958	1,041	1,518	1,651	802	1,984	2,250	3,497	4,110	4,490
	EBT margin, %	10.74	8.55	12.05	16.24	9.39	12.00	10.05	19.78	18.94	13.35
	Net income	743	594	1,155	1,279	613	1,500	1,722	2,659	3,112	3,462
	Depreciation	392	406	429	477	579	622	626	769	1,134	1,514
Per share, $
Per share, $	Revenue	42.25	40.92	30.60	24.58	19.81	37.05	50.03	36.50	37.12	53.82
	Earnings	1.67	1.30	2.80	3.09	1.42	3.36	3.85	5.49	5.19	5.43
	Cash flow	6.41	4.42	5.31	4.71	4.41	5.70	6.49	9.13	8.36	8.96
	Capex	(2.84)	(1.72)	(5.20)	(9.31)	(5.09)	(1.56)	(2.69)	(3.29)	(3.46)	(5.04)
	Free cash flow	3.57	2.70	0.11	(4.60)	(0.69)	4.14	3.81	5.84	4.90	3.92
	Book value	16.24	19.11	15.99	15.05	14.02	13.47	14.51	34.04	37.86	36.12
	Shares, m	211	297	411	414	431	446	448	484	585	625
Valuation, ×
Valuation, ×	P/E	34.97	40.78	19.27	24.49	28.01	17.44	16.65	12.80	19.38	13.56
	P/S	1.39	1.34	1.76	3.08	1.94	1.59	1.28	1.95	2.71	1.37
	P/B	3.62	2.86	3.37	5.03	2.74	4.36	4.41	2.09	2.65	2.03
	EV/Sales	2.30	2.03	2.51	4.31	3.54	2.40	1.88	3.15	4.15	2.31
	EV/FCF	27.17	30.81	697.74	(23.01)	(102.11)	21.49	24.66	19.72	31.40	31.81
Cash, $m
Cash, $m	Operating cash flow	1,353	1,315	2,187	1,947	1,899	2,546	2,906	4,421	4,888	5,599
	Capex	(599)	(512)	(2,141)	(3,848)	(2,195)	(697)	(1,202)	(1,595)	(2,021)	(3,152)
	Free cash flow	754	803	45	(1,902)	(296)	1,849	1,704	2,826	2,867	2,447
Balance, $m
Balance, $m	Working capital	(1,407)	(903)	(710)	(550)	525	(810)	(503)	(344)	(481)	(1,877)
	Total debt	8,331	8,524	9,381	12,487	14,236	13,643	13,621	21,667	32,077	31,996
	Net debt	8,082	8,487	9,369	12,466	13,712	13,497	13,401	21,329	31,344	31,918
	Shareholders’ equity	3,429	5,685	6,580	6,226	6,042	6,015	6,494	16,484	22,133	22,569
Returns, %
Returns, %	ROA	2.23	2.35	6.56	6.38	2.73	6.42	7.17	7.74	5.60	5.19
	ROIC	7.04	6.14	7.19	6.40	4.31	8.32	8.82	6.73	5.83	6.59
	ROE	9.79	8.49	18.76	19.95	9.97	24.86	27.52	23.14	15.71	15.18

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
WMB Williams Companies, Inc. (The)	$84.7B	28.3×	30.7×	+9.78% (above 0%: growing)	+51.11% (above 0%: growing)	−195.82% (below 0%: shrinking)	83.33%	38.72%	Compare
EPD Enterprise Products Partners L.P.	$76.8B	12.8×	13.0×	+60.78% (above 0%: growing)	+27.27% (above 0%: growing)	+162.10% (above 0%: growing)	12.06%	12.31%	Compare
KMI Kinder Morgan, Inc.	$73.1B	21.9×	21.4×	+10.76% (above 0%: growing)	+21.88% (above 0%: growing)	−52.59% (below 0%: shrinking)	68.62%	30.06%	Compare
ET Energy Transfer LP	$68.5B	13.8×	13.1×	+78.43% (above 0%: growing)	+84.37% (above 0%: growing)	+146.15% (above 0%: growing)	21.55%	10.41%	Compare
TRP TC Energy Corporation	$62.2B	25.6×	24.9×	+5.59% (above 0%: growing)	+18.28% (above 0%: growing)	+24.24% (above 0%: growing)	70.23%	54.92%	Compare
TRGP Targa Resources, Inc.	$60.6B	28.0×	24.7×	+4.23% (above 0%: growing)	+22.92% (above 0%: growing)	+1,002.09% (above 0%: growing)	48.15%	27.80%	Compare
MPLX MPLX LP	$57.9B	12.5×	13.1×	+10.29% (above 0%: growing)	+2.91% (above 0%: growing)	−38.89% (below 0%: shrinking)	56.91%	41.61%	Compare
LNG Cheniere Energy, Inc.	$57.7B	21.4×	— (loss-making)	+23.51% (above 0%: growing)	+100.55% (above 0%: growing)	+452.21% (above 0%: growing)	83.04%	74.84%	Compare
OKE ONEOK, Inc.	$57.2B	16.1×	15.5×	+52.77% (above 0%: growing)	+14.18% (above 0%: growing)	+85.57% (above 0%: growing)	23.30%	13.22%
Median of peers	$65.3B	21.7×	21.4×	+10.53%	+25.10%	+85.20%	62.77%	34.39%

All 58 Oil & Gas Midstream stocks →

ONEOK, Inc. (OKE) key facts

Strength: ONEOK, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $33.6 billion, up 55.0% from fiscal 2024.
ONEOK, Inc. (OKE) is an Oil & Gas Midstream company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, OKE traded at $93.39, a market capitalization of $57.2 billion.
ONEOK, Inc. pays an annual dividend of $5.31 per share, a yield of 5.69%, with a payout ratio of 91.6%.
Return on equity was 15.2% and debt-to-equity 1.37.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.43 (distress zone) for fiscal 2025.