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 $57.2B against $31.3B — 1.8× the size. Venture Global, Inc. trades at the lower P/E: 9.4× against 16.1×. 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 16.10 9.35 12.77
P/S 1.50 1.87 2.36
P/B 2.56 2.62 2.09
Price to free cash flow 20.28 n/m 9.71
EV/EBITDA 11.81 9.57 8.30
EV/Sales 2.29 4.15 3.88
Earnings yield 6.21% 10.69% 7.15%
Free cash flow yield 4.93% (22.08%) 6.86%

Profitability

Metric OKE VG Oil & Gas Midstream median
Gross margin 27.21% 53.48% 56.58%
Operating margin 15.52% 37.62% 34.18%
Net margin 9.29% 19.65% 22.50%
Free cash flow margin 7.38% (41.24%) 13.70%
Return on equity 16.27% 31.90% 14.65%
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% 15.60%
EPS growth (last fiscal year) 4.84% 50.88% (7.86%)
Revenue growth, 5-year CAGR 31.53% — 9.59%
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 5.69% — 4.54%
Payout ratio 0.92 — 0.76

Size

Metric OKE VG Oil & Gas Midstream median
Market cap 57.15b 31.25b 3.73b

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