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 ($62.2B and $57.2B). ONEOK, Inc. trades at the lower P/E: 16.1× against 25.6×. 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; ONEOK, Inc. yields more (5.69% vs 4.05%). Across the 23 metrics below, ONEOK, Inc. leads on 18 and TC Energy Corporation on 5.

Valuation

Metric OKE TRP Oil & Gas Midstream median
P/E 16.10 25.62 12.77
P/S 1.50 5.67 2.36
P/B 2.56 2.53 2.09
Price to free cash flow 20.28 21.97 9.71
EV/EBITDA 11.81 13.23 8.30
EV/Sales 2.29 9.54 3.88
Earnings yield 6.21% 3.90% 7.15%
Free cash flow yield 4.93% 4.55% 6.86%

Profitability

Metric OKE TRP Oil & Gas Midstream median
Gross margin 27.21% 70.44% 56.58%
Operating margin 15.52% 53.94% 34.18%
Net margin 9.29% 22.19% 22.50%
Free cash flow margin 7.38% 25.80% 13.70%
Return on equity 16.27% 9.94% 14.65%
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% 15.60%
EPS growth (last fiscal year) 4.84% (27.55%) (7.86%)
Revenue growth, 5-year CAGR 31.53% 2.36% 9.59%
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 5.69% 4.05% 4.54%
Payout ratio 0.92 1.04 0.76

Size

Metric OKE TRP Oil & Gas Midstream median
Market cap 57.15b 62.17b 3.73b

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