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 $54.4B against $28.8B — 1.9× the size. Venture Global, Inc. trades at the lower P/E: 8.6× against 13.3×. Venture Global, Inc. grew revenue faster over the last twelve months: 100.7% against 36.8%. Venture Global, Inc. has the higher net margin (19.7% vs 9.42%) and the higher return on invested capital (7.86% vs 6.30%). 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 13.32 8.57 11.68
P/S 1.27 1.71 2.39
P/B 1.68 2.40 1.68
Price to free cash flow 21.62 n/m 8.52
EV/EBITDA 10.81 9.21 9.03
EV/Sales 1.92 3.99 3.43
Earnings yield 7.51% 11.67% 7.78%
Free cash flow yield 4.62% (24.11%) 7.11%

Profitability

Metric OKE VG Oil & Gas Midstream median
Gross margin 25.20% 53.48% 54.87%
Operating margin 14.17% 37.62% 34.73%
Net margin 9.42% 19.65% 20.12%
Free cash flow margin 5.85% (41.24%) 14.43%
Return on equity 14.89% 31.90% 11.73%
Return on assets 5.77% 6.17% 4.43%
Return on invested capital 6.30% 7.86% 6.10%

Growth

Metric OKE VG Oil & Gas Midstream median
Revenue growth (TTM) 36.82% 100.72% 14.88%
EPS growth (last fiscal year) 4.84% 50.88% (7.78%)
Revenue growth, 5-year CAGR 31.53% — 10.05%
Net income growth, 5-year CAGR 40.87% — 0.00%

Health

Metric OKE VG Oil & Gas Midstream median
Debt to equity 0.88 3.46 0.77
Current ratio 0.84 1.19 1.19
Net debt to EBITDA 4.40 5.19 3.46

Dividend

Metric OKE VG Oil & Gas Midstream median
Dividend yield 4.94% — 4.94%
Payout ratio 0.66 — 0.73

Size

Metric OKE VG Oil & Gas Midstream median
Market cap 54.38b 28.80b 3.56b

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