ONEOK, Inc. (OKE) vs TC Energy Corporation (TRP)

ONEOK, Inc. and TC Energy Corporation are both Oil & Gas Midstream companies. ONEOK, Inc. and TC Energy Corporation are of similar size ($59.7B and $57.5B). ONEOK, Inc. trades at the lower P/E: 15.3× against 24.4×. ONEOK, Inc. grew revenue faster over the last twelve months: 40.8% against 24.0%. TC Energy Corporation has the higher net margin (22.2% vs 9.29%) and the lower return on invested capital (5.39% vs 7.02%). Both pay a dividend; TC Energy Corporation yields more (7.37% vs 5.56%). Across the 23 metrics below, ONEOK, Inc. leads on 17 and TC Energy Corporation on 6.

Valuation

Metric OKE TRP Oil & Gas Midstream median
P/E 15.31 24.39 13.19
P/S 1.42 5.40 2.60
P/B 2.43 2.41 2.08
Price to free cash flow 19.28 20.92 10.14
EV/EBITDA 11.44 12.86 8.11
EV/Sales 2.22 9.27 3.89
Earnings yield 6.53% 4.10% 6.83%
Free cash flow yield 5.19% 4.78% 6.94%

Profitability

Metric OKE TRP Oil & Gas Midstream median
Gross margin 27.21% 70.44% 58.81%
Operating margin 15.52% 53.94% 32.14%
Net margin 9.29% 22.19% 21.16%
Free cash flow margin 7.38% 25.80% 10.15%
Return on equity 16.27% 9.94% 11.30%
Return on assets 5.49% 2.89% 5.00%
Return on invested capital 7.02% 5.39% 6.13%

Growth

Metric OKE TRP Oil & Gas Midstream median
Revenue growth (TTM) 40.83% 24.04% 15.44%
EPS growth (last fiscal year) 4.84% (27.55%) —
Revenue growth, 5-year CAGR 31.53% 2.36% 8.96%
Net income growth, 5-year CAGR 40.87% (6.06%) 0.00%

Health

Metric OKE TRP Oil & Gas Midstream median
Debt to equity 1.37 1.68 0.78
Current ratio 0.74 0.61 1.19
Net debt to EBITDA 4.40 5.43 3.42

Dividend

Metric OKE TRP Oil & Gas Midstream median
Dividend yield 5.56% 7.37% 7.29%
Payout ratio 0.70 4.07 0.64

Size

Metric OKE TRP Oil & Gas Midstream median
Market cap 57.48b 59.65b 3.61b

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