ONEOK INC (OKE) Fundamental Analysis & Valuation

NYSE:OKE • US6826801036

Current stock price

87.21 USD
+1.15 (+1.34%)
At close:
86.53 USD
-0.68 (-0.78%)
After Hours:

This OKE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. OKE Profitability Analysis

1.1 Basic Checks

  • OKE had positive earnings in the past year.
  • OKE had a positive operating cash flow in the past year.
  • OKE had positive earnings in each of the past 5 years.
  • OKE had a positive operating cash flow in each of the past 5 years.
OKE Yearly Net Income VS EBIT VS OCF VS FCFOKE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.09%, OKE is in the better half of the industry, outperforming 65.07% of the companies in the same industry.
  • OKE's Return On Equity of 15.09% is fine compared to the rest of the industry. OKE outperforms 76.56% of its industry peers.
  • The Return On Invested Capital of OKE (7.28%) is better than 66.99% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for OKE is significantly below the industry average of 22.73%.
  • The 3 year average ROIC (7.24%) for OKE is below the current ROIC(7.28%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.09%
ROE 15.09%
ROIC 7.28%
ROA(3y)5.28%
ROA(5y)5.85%
ROE(3y)16.34%
ROE(5y)20.09%
ROIC(3y)7.24%
ROIC(5y)8.22%
OKE Yearly ROA, ROE, ROICOKE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50 100 150

1.3 Margins

  • OKE's Profit Margin of 10.09% is in line compared to the rest of the industry. OKE outperforms 55.98% of its industry peers.
  • OKE's Profit Margin has improved in the last couple of years.
  • OKE's Operating Margin of 17.31% is in line compared to the rest of the industry. OKE outperforms 53.59% of its industry peers.
  • OKE's Operating Margin has declined in the last couple of years.
  • OKE's Gross Margin of 30.50% is in line compared to the rest of the industry. OKE outperforms 43.06% of its industry peers.
  • In the last couple of years the Gross Margin of OKE has declined.
Industry RankSector Rank
OM 17.31%
PM (TTM) 10.09%
GM 30.5%
OM growth 3Y12.79%
OM growth 5Y-5.55%
PM growth 3Y9.48%
PM growth 5Y7.09%
GM growth 3Y15.1%
GM growth 5Y-5.36%
OKE Yearly Profit, Operating, Gross MarginsOKE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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1

2. OKE Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so OKE is still creating some value.
  • Compared to 1 year ago, OKE has more shares outstanding
  • OKE has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for OKE has been reduced compared to a year ago.
OKE Yearly Shares OutstandingOKE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
OKE Yearly Total Debt VS Total AssetsOKE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • Based on the Altman-Z score of 1.55, we must say that OKE is in the distress zone and has some risk of bankruptcy.
  • OKE has a Altman-Z score (1.55) which is comparable to the rest of the industry.
  • The Debt to FCF ratio of OKE is 13.41, which is on the high side as it means it would take OKE, 13.41 years of fcf income to pay off all of its debts.
  • OKE has a Debt to FCF ratio of 13.41. This is comparable to the rest of the industry: OKE outperforms 50.24% of its industry peers.
  • OKE has a Debt/Equity ratio of 1.40. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of OKE (1.40) is worse than 72.25% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF 13.41
Altman-Z 1.55
ROIC/WACC1.02
WACC7.12%
OKE Yearly LT Debt VS Equity VS FCFOKE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B

2.3 Liquidity

  • OKE has a Current Ratio of 0.71. This is a bad value and indicates that OKE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of OKE (0.71) is worse than 72.73% of its industry peers.
  • OKE has a Quick Ratio of 0.71. This is a bad value and indicates that OKE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of OKE (0.56) is worse than 76.08% of its industry peers.
Industry RankSector Rank
Current Ratio 0.71
Quick Ratio 0.56
OKE Yearly Current Assets VS Current LiabilitesOKE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. OKE Growth Analysis

3.1 Past

  • OKE shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.84%.
  • OKE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.37% yearly.
  • Looking at the last year, OKE shows a very strong growth in Revenue. The Revenue has grown by 54.99%.
  • Measured over the past years, OKE shows a very strong growth in Revenue. The Revenue has been growing by 31.53% on average per year.
EPS 1Y (TTM)4.84%
EPS 3Y11.6%
EPS 5Y16.37%
EPS Q2Q%-1.27%
Revenue 1Y (TTM)54.99%
Revenue growth 3Y14.53%
Revenue growth 5Y31.53%
Sales Q2Q%29.5%

3.2 Future

  • OKE is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.85% yearly.
  • Based on estimates for the next years, OKE will show a small growth in Revenue. The Revenue will grow by 0.93% on average per year.
EPS Next Y5.03%
EPS Next 2Y5.64%
EPS Next 3Y7.3%
EPS Next 5Y6.85%
Revenue Next Year5.79%
Revenue Next 2Y6.28%
Revenue Next 3Y3.67%
Revenue Next 5Y0.93%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
OKE Yearly Revenue VS EstimatesOKE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B
OKE Yearly EPS VS EstimatesOKE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8

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4

4. OKE Valuation Analysis

4.1 Price/Earnings Ratio

  • OKE is valuated correctly with a Price/Earnings ratio of 16.09.
  • Based on the Price/Earnings ratio, OKE is valued a bit cheaper than the industry average as 62.20% of the companies are valued more expensively.
  • OKE's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.50.
  • OKE is valuated correctly with a Price/Forward Earnings ratio of 15.32.
  • OKE's Price/Forward Earnings is on the same level as the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 22.62. OKE is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.09
Fwd PE 15.32
OKE Price Earnings VS Forward Price EarningsOKE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as OKE.
  • OKE's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 22.45
EV/EBITDA 11.74
OKE Per share dataOKE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40 50

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates OKE does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of OKE may justify a higher PE ratio.
PEG (NY)3.2
PEG (5Y)0.98
EPS Next 2Y5.64%
EPS Next 3Y7.3%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. OKE Dividend Analysis

5.1 Amount

  • OKE has a Yearly Dividend Yield of 5.02%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.26, OKE pays a bit more dividend than its industry peers.
  • OKE's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 5.02%

5.2 History

  • The dividend of OKE has a limited annual growth rate of 2.62%.
  • OKE has paid a dividend for at least 10 years, which is a reliable track record.
  • OKE has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)2.62%
Div Incr Years3
Div Non Decr Years34
OKE Yearly Dividends per shareOKE Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

5.3 Sustainability

  • OKE pays out 76.13% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of OKE is growing, but earnings are growing more, so the dividend growth is sustainable.
DP76.13%
EPS Next 2Y5.64%
EPS Next 3Y7.3%
OKE Yearly Income VS Free CF VS DividendOKE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B 3B
OKE Dividend Payout.OKE Dividend Payout, showing the Payout Ratio.OKE Dividend Payout.PayoutRetained Earnings

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OKE Fundamentals: All Metrics, Ratios and Statistics

ONEOK INC

NYSE:OKE (4/23/2026, 4:19:51 PM)

After market: 86.53 -0.68 (-0.78%)

87.21

+1.15 (+1.34%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-23
Earnings (Next)04-28
Inst Owners79.31%
Inst Owner Change0.06%
Ins Owners0.17%
Ins Owner Change0.97%
Market Cap54.94B
Revenue(TTM)33.63B
Net Income(TTM)3.39B
Analysts75.86
Price Target94.33 (8.16%)
Short Float %4.3%
Short Ratio5.16
Dividend
Industry RankSector Rank
Dividend Yield 5.02%
Yearly Dividend4.26
Dividend Growth(5Y)2.62%
DP76.13%
Div Incr Years3
Div Non Decr Years34
Ex-Date02-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)1.47%
Min EPS beat(2)1.03%
Max EPS beat(2)1.9%
EPS beat(4)2
Avg EPS beat(4)-3.77%
Min EPS beat(4)-17.53%
Max EPS beat(4)1.9%
EPS beat(8)4
Avg EPS beat(8)-1.64%
EPS beat(12)5
Avg EPS beat(12)-6.16%
EPS beat(16)8
Avg EPS beat(16)-3.8%
Revenue beat(2)1
Avg Revenue beat(2)-0.02%
Min Revenue beat(2)-0.26%
Max Revenue beat(2)0.22%
Revenue beat(4)3
Avg Revenue beat(4)1.23%
Min Revenue beat(4)-0.26%
Max Revenue beat(4)3.39%
Revenue beat(8)4
Avg Revenue beat(8)-6.86%
Revenue beat(12)4
Avg Revenue beat(12)-11.18%
Revenue beat(16)6
Avg Revenue beat(16)-8.31%
PT rev (1m)5.2%
PT rev (3m)4.33%
EPS NQ rev (1m)1.25%
EPS NQ rev (3m)-6.18%
EPS NY rev (1m)-1.3%
EPS NY rev (3m)-5.49%
Revenue NQ rev (1m)2.79%
Revenue NQ rev (3m)-4.2%
Revenue NY rev (1m)7.55%
Revenue NY rev (3m)-2.73%
Valuation
Industry RankSector Rank
PE 16.09
Fwd PE 15.32
P/S 1.63
P/FCF 22.45
P/OCF 9.81
P/B 2.44
P/tB 4.77
EV/EBITDA 11.74
EPS(TTM)5.42
EY6.21%
EPS(NY)5.69
Fwd EY6.53%
FCF(TTM)3.88
FCFY4.45%
OCF(TTM)8.89
OCFY10.19%
SpS53.38
BVpS35.69
TBVpS18.29
PEG (NY)3.2
PEG (5Y)0.98
Graham Number65.9716 (-24.35%)
Profitability
Industry RankSector Rank
ROA 5.09%
ROE 15.09%
ROCE 9.66%
ROIC 7.28%
ROICexc 7.29%
ROICexgc 8.89%
OM 17.31%
PM (TTM) 10.09%
GM 30.5%
FCFM 7.28%
ROA(3y)5.28%
ROA(5y)5.85%
ROE(3y)16.34%
ROE(5y)20.09%
ROIC(3y)7.24%
ROIC(5y)8.22%
ROICexc(3y)7.29%
ROICexc(5y)8.29%
ROICexgc(3y)8.83%
ROICexgc(5y)9.35%
ROCE(3y)9.52%
ROCE(5y)10.78%
ROICexgc growth 3Y-4.3%
ROICexgc growth 5Y3.86%
ROICexc growth 3Y-9.32%
ROICexc growth 5Y0.57%
OM growth 3Y12.79%
OM growth 5Y-5.55%
PM growth 3Y9.48%
PM growth 5Y7.09%
GM growth 3Y15.1%
GM growth 5Y-5.36%
F-Score7
Asset Turnover0.5
Health
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF 13.41
Debt/EBITDA 4.3
Cap/Depr 208.19%
Cap/Sales 9.37%
Interest Coverage 3.36
Cash Conversion 76.32%
Profit Quality 72.12%
Current Ratio 0.71
Quick Ratio 0.56
Altman-Z 1.55
F-Score7
WACC7.12%
ROIC/WACC1.02
Cap/Depr(3y)197.94%
Cap/Depr(5y)179.58%
Cap/Sales(3y)9.24%
Cap/Sales(5y)7.46%
Profit Quality(3y)90.98%
Profit Quality(5y)99.07%
High Growth Momentum
Growth
EPS 1Y (TTM)4.84%
EPS 3Y11.6%
EPS 5Y16.37%
EPS Q2Q%-1.27%
EPS Next Y5.03%
EPS Next 2Y5.64%
EPS Next 3Y7.3%
EPS Next 5Y6.85%
Revenue 1Y (TTM)54.99%
Revenue growth 3Y14.53%
Revenue growth 5Y31.53%
Sales Q2Q%29.5%
Revenue Next Year5.79%
Revenue Next 2Y6.28%
Revenue Next 3Y3.67%
Revenue Next 5Y0.93%
EBIT growth 1Y15.17%
EBIT growth 3Y29.17%
EBIT growth 5Y24.24%
EBIT Next Year36.72%
EBIT Next 3Y14.03%
EBIT Next 5Y9.43%
FCF growth 1Y-14.65%
FCF growth 3Y12.82%
FCF growth 5YN/A
OCF growth 1Y14.55%
OCF growth 3Y24.43%
OCF growth 5Y24.14%

ONEOK INC / OKE Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ONEOK INC (OKE) stock?

ChartMill assigns a fundamental rating of 4 / 10 to OKE.


What is the valuation status for OKE stock?

ChartMill assigns a valuation rating of 4 / 10 to ONEOK INC (OKE). This can be considered as Fairly Valued.


What is the profitability of OKE stock?

ONEOK INC (OKE) has a profitability rating of 6 / 10.


What is the expected EPS growth for ONEOK INC (OKE) stock?

The Earnings per Share (EPS) of ONEOK INC (OKE) is expected to grow by 5.03% in the next year.


How sustainable is the dividend of ONEOK INC (OKE) stock?

The dividend rating of ONEOK INC (OKE) is 8 / 10 and the dividend payout ratio is 76.13%.