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

ONEOK, Inc. and TC Energy Corporation are both Oil & Gas Midstream companies. TC Energy Corporation is the larger, with a market value of $65.2B against $54.4B — 1.2× the size. ONEOK, Inc. trades at the lower P/E: 13.1× against 25.7×. ONEOK, Inc. grew revenue faster over the last twelve months: 36.8% against 24.0%. TC Energy Corporation has the higher net margin (22.2% vs 9.42%) and the lower return on invested capital (5.39% vs 6.30%). Both pay a dividend; ONEOK, Inc. yields more (5.03% vs 4.04%). Across the 23 metrics below, ONEOK, Inc. leads on 19 and TC Energy Corporation on 4.

Valuation

Metric OKE TRP Oil & Gas Midstream median
P/E 13.09 25.71 11.80
P/S 1.24 5.69 2.38
P/B 1.65 2.54 1.65
Price to free cash flow 21.25 22.05 7.76
EV/EBITDA 10.69 13.26 7.88
EV/Sales 1.90 9.56 3.36
Earnings yield 7.64% 3.89% 7.98%
Free cash flow yield 4.71% 4.54% 7.23%

Profitability

Metric OKE TRP Oil & Gas Midstream median
Gross margin 25.20% 70.44% 55.22%
Operating margin 14.17% 53.94% 35.83%
Net margin 9.42% 22.19% 20.12%
Free cash flow margin 5.85% 25.80% 14.43%
Return on equity 14.89% 9.94% 14.03%
Return on assets 5.77% 2.89% 4.62%
Return on invested capital 6.30% 5.39% 6.10%

Growth

Metric OKE TRP Oil & Gas Midstream median
Revenue growth (TTM) 36.82% 24.04% 15.70%
EPS growth (last fiscal year) 4.84% (27.55%) (7.78%)
Revenue growth, 5-year CAGR 31.53% 2.36% 10.05%
Net income growth, 5-year CAGR 40.87% (6.06%) 0.00%

Health

Metric OKE TRP Oil & Gas Midstream median
Debt to equity 0.88 1.68 0.77
Current ratio 0.84 0.61 1.16
Net debt to EBITDA 4.40 5.43 3.46

Dividend

Metric OKE TRP Oil & Gas Midstream median
Dividend yield 5.03% 4.04% 5.03%
Payout ratio 0.66 1.04 0.73

Size

Metric OKE TRP Oil & Gas Midstream median
Market cap 54.38b 65.20b 3.30b

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