ONEOK, Inc. (OKE) vs Venture Global, Inc. (VG)

ONEOK, Inc. and Venture Global, Inc. are both Oil & Gas Midstream companies. ONEOK, Inc. is the larger, with a market value of $57.5B against $32.6B — 1.8× the size. Venture Global, Inc. trades at the lower P/E: 9.3× against 15.3×. Venture Global, Inc. grew revenue faster over the last twelve months: 100.7% against 40.8%. Venture Global, Inc. has the higher net margin (19.7% vs 9.29%) and the higher return on invested capital (7.86% vs 7.02%). Across the 19 metrics below, Venture Global, Inc. leads on 12 and ONEOK, Inc. on 7.

Valuation

Metric OKE VG Oil & Gas Midstream median
P/E 15.31 9.28 13.19
P/S 1.42 1.85 2.60
P/B 2.43 2.60 2.08
Price to free cash flow 19.28 n/m 10.14
EV/EBITDA 11.44 9.53 8.11
EV/Sales 2.22 4.13 3.89
Earnings yield 6.53% 10.78% 6.83%
Free cash flow yield 5.19% (22.25%) 6.94%

Profitability

Metric OKE VG Oil & Gas Midstream median
Gross margin 27.21% 53.48% 58.81%
Operating margin 15.52% 37.62% 32.14%
Net margin 9.29% 19.65% 21.16%
Free cash flow margin 7.38% (41.24%) 10.15%
Return on equity 16.27% 31.90% 11.30%
Return on assets 5.49% 6.17% 5.00%
Return on invested capital 7.02% 7.86% 6.13%

Growth

Metric OKE VG Oil & Gas Midstream median
Revenue growth (TTM) 40.83% 100.72% 15.44%
EPS growth (last fiscal year) 4.84% 50.88% —
Revenue growth, 5-year CAGR 31.53% — 8.96%
Net income growth, 5-year CAGR 40.87% — 0.00%

Health

Metric OKE VG Oil & Gas Midstream median
Debt to equity 1.37 3.46 0.78
Current ratio 0.74 1.19 1.19
Net debt to EBITDA 4.40 5.19 3.42

Dividend

Metric OKE VG Oil & Gas Midstream median
Dividend yield 5.56% — 7.29%
Payout ratio 0.70 — 0.64

Size

Metric OKE VG Oil & Gas Midstream median
Market cap 57.48b 32.58b 3.61b

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