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ONEOK INC (OKE) Stock Fundamental Analysis

NYSE:OKE - New York Stock Exchange, Inc. - US6826801036 - Common Stock - Currency: USD

81.54  -0.47 (-0.57%)

After market: 81.9 +0.36 (+0.44%)

Fundamental Rating

4

Overall OKE gets a fundamental rating of 4 out of 10. We evaluated OKE against 210 industry peers in the Oil, Gas & Consumable Fuels industry. While OKE is still in line with the averages on profitability rating, there are concerns on its financial health. OKE has a decent growth rate and is not valued too expensively. Finally OKE also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

OKE had positive earnings in the past year.
OKE had a positive operating cash flow in the past year.
In the past 5 years OKE has always been profitable.
In the past 5 years OKE always reported a positive cash flow from operatings.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

1.2 Ratios

The Return On Assets of OKE (4.72%) is comparable to the rest of the industry.
OKE has a Return On Equity of 14.19%. This is in the better half of the industry: OKE outperforms 69.52% of its industry peers.
OKE has a Return On Invested Capital (6.84%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for OKE is significantly below the industry average of 23.79%.
Industry RankSector Rank
ROA 4.72%
ROE 14.19%
ROIC 6.84%
ROA(3y)5.93%
ROA(5y)5.36%
ROE(3y)20.15%
ROE(5y)19.1%
ROIC(3y)7.98%
ROIC(5y)8.09%
OKE Yearly ROA, ROE, ROICOKE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50 100 150

1.3 Margins

With a decent Profit Margin value of 12.14%, OKE is doing good in the industry, outperforming 61.43% of the companies in the same industry.
OKE's Profit Margin has improved in the last couple of years.
OKE's Operating Margin of 21.05% is in line compared to the rest of the industry. OKE outperforms 52.86% of its industry peers.
In the last couple of years the Operating Margin of OKE has grown nicely.
Looking at the Gross Margin, with a value of 35.62%, OKE is in line with its industry, outperforming 46.67% of the companies in the same industry.
OKE's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 21.05%
PM (TTM) 12.14%
GM 35.62%
OM growth 3Y14.14%
OM growth 5Y4.34%
PM growth 3Y15.56%
PM growth 5Y2.16%
GM growth 3Y14.28%
GM growth 5Y3.08%
OKE Yearly Profit, Operating, Gross MarginsOKE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), OKE is destroying value.
Compared to 1 year ago, OKE has about the same amount of shares outstanding.
OKE has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, OKE has a worse debt to assets ratio.
OKE Yearly Shares OutstandingOKE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
OKE Yearly Total Debt VS Total AssetsOKE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.2 Solvency

Based on the Altman-Z score of 1.37, we must say that OKE is in the distress zone and has some risk of bankruptcy.
OKE's Altman-Z score of 1.37 is in line compared to the rest of the industry. OKE outperforms 51.90% of its industry peers.
OKE has a debt to FCF ratio of 10.48. This is a negative value and a sign of low solvency as OKE would need 10.48 years to pay back of all of its debts.
OKE has a Debt to FCF ratio (10.48) which is in line with its industry peers.
OKE has a Debt/Equity ratio of 1.40. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.40, OKE is not doing good in the industry: 72.86% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF 10.48
Altman-Z 1.37
ROIC/WACC0.79
WACC8.62%
OKE Yearly LT Debt VS Equity VS FCFOKE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

A Current Ratio of 0.67 indicates that OKE may have some problems paying its short term obligations.
The Current ratio of OKE (0.67) is worse than 78.57% of its industry peers.
A Quick Ratio of 0.52 indicates that OKE may have some problems paying its short term obligations.
The Quick ratio of OKE (0.52) is worse than 81.90% of its industry peers.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.52
OKE Yearly Current Assets VS Current LiabilitesOKE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

6

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 19.07% over the past year.
The Earnings Per Share has been growing by 10.99% on average over the past years. This is quite good.
The Revenue has grown by 39.15% in the past year. This is a very strong growth!
The Revenue has been growing by 16.38% on average over the past years. This is quite good.
EPS 1Y (TTM)19.07%
EPS 3Y15.45%
EPS 5Y10.99%
EPS Q2Q%-4.59%
Revenue 1Y (TTM)39.15%
Revenue growth 3Y9.47%
Revenue growth 5Y16.38%
Sales Q2Q%68.23%

3.2 Future

OKE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.44% yearly.
Based on estimates for the next years, OKE will show a small growth in Revenue. The Revenue will grow by 7.53% on average per year.
EPS Next Y5.92%
EPS Next 2Y11.29%
EPS Next 3Y10.18%
EPS Next 5Y9.44%
Revenue Next Year30.81%
Revenue Next 2Y15.62%
Revenue Next 3Y13.53%
Revenue Next 5Y7.53%

3.3 Evolution

The EPS growth rate is stable: in the next years the growth will be about the same 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 10B 20B 30B
OKE Yearly EPS VS EstimatesOKE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8

4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 15.93, which indicates a correct valuation of OKE.
The rest of the industry has a similar Price/Earnings ratio as OKE.
The average S&P500 Price/Earnings ratio is at 28.04. OKE is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 12.73, the valuation of OKE can be described as correct.
OKE's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 37.64. OKE is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 15.93
Fwd PE 12.73
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

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of OKE indicates a slightly more expensive valuation: OKE is more expensive than 60.95% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, OKE is valued a bit cheaper than 60.48% of the companies in the same industry.
Industry RankSector Rank
P/FCF 16.66
EV/EBITDA 12.73
OKE Per share dataOKE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

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)2.69
PEG (5Y)1.45
EPS Next 2Y11.29%
EPS Next 3Y10.18%

8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.02%, OKE is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.35, OKE pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.31, OKE pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.02%

5.2 History

The dividend of OKE has a limited annual growth rate of 2.34%.
OKE has been paying a dividend for at least 10 years, so it has a reliable track record.
OKE has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)2.34%
Div Incr Years2
Div Non Decr Years34
OKE Yearly Dividends per shareOKE Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

78.46% of the earnings are spent on dividend by OKE. This is not a sustainable payout ratio.
OKE's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP78.46%
EPS Next 2Y11.29%
EPS Next 3Y10.18%
OKE Yearly Income VS Free CF VS DividendOKE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B 3B
OKE Dividend Payout.OKE Dividend Payout, showing the Payout Ratio.OKE Dividend Payout.PayoutRetained Earnings

ONEOK INC

NYSE:OKE (7/25/2025, 8:14:46 PM)

After market: 81.9 +0.36 (+0.44%)

81.54

-0.47 (-0.57%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)04-29 2025-04-29/amc
Earnings (Next)08-04 2025-08-04/amc
Inst Owners74.83%
Inst Owner Change0.04%
Ins Owners0.17%
Ins Owner Change2.01%
Market Cap50.93B
Analysts79.13
Price Target106.47 (30.57%)
Short Float %1.76%
Short Ratio2.88
Dividend
Industry RankSector Rank
Dividend Yield 5.02%
Yearly Dividend3.97
Dividend Growth(5Y)2.34%
DP78.46%
Div Incr Years2
Div Non Decr Years34
Ex-Date08-01 2025-08-01 (1.03)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-6.64%
Min EPS beat(2)-17.53%
Max EPS beat(2)4.26%
EPS beat(4)2
Avg EPS beat(4)-2.21%
Min EPS beat(4)-17.53%
Max EPS beat(4)9.25%
EPS beat(8)3
Avg EPS beat(8)-2.89%
EPS beat(12)6
Avg EPS beat(12)-5.01%
EPS beat(16)8
Avg EPS beat(16)-3.76%
Revenue beat(2)2
Avg Revenue beat(2)3.17%
Min Revenue beat(2)2.94%
Max Revenue beat(2)3.39%
Revenue beat(4)2
Avg Revenue beat(4)-8.35%
Min Revenue beat(4)-20.33%
Max Revenue beat(4)3.39%
Revenue beat(8)2
Avg Revenue beat(8)-14.93%
Revenue beat(12)3
Avg Revenue beat(12)-11.86%
Revenue beat(16)7
Avg Revenue beat(16)-4.94%
PT rev (1m)-2.76%
PT rev (3m)-6.92%
EPS NQ rev (1m)0.21%
EPS NQ rev (3m)2.86%
EPS NY rev (1m)-0.73%
EPS NY rev (3m)-1.48%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)-6.65%
Revenue NY rev (1m)-0.31%
Revenue NY rev (3m)-1.42%
Valuation
Industry RankSector Rank
PE 15.93
Fwd PE 12.73
P/S 2.04
P/FCF 16.66
P/OCF 9.8
P/B 2.38
P/tB 4.96
EV/EBITDA 12.73
EPS(TTM)5.12
EY6.28%
EPS(NY)6.4
Fwd EY7.85%
FCF(TTM)4.9
FCFY6%
OCF(TTM)8.32
OCFY10.2%
SpS39.96
BVpS34.2
TBVpS16.44
PEG (NY)2.69
PEG (5Y)1.45
Profitability
Industry RankSector Rank
ROA 4.72%
ROE 14.19%
ROCE 9.04%
ROIC 6.84%
ROICexc 6.86%
ROICexgc 8.47%
OM 21.05%
PM (TTM) 12.14%
GM 35.62%
FCFM 12.25%
ROA(3y)5.93%
ROA(5y)5.36%
ROE(3y)20.15%
ROE(5y)19.1%
ROIC(3y)7.98%
ROIC(5y)8.09%
ROICexc(3y)8.06%
ROICexc(5y)8.19%
ROICexgc(3y)9.18%
ROICexgc(5y)8.99%
ROCE(3y)10.52%
ROCE(5y)10.66%
ROICexcg growth 3Y-7.08%
ROICexcg growth 5Y1.14%
ROICexc growth 3Y-12.27%
ROICexc growth 5Y-2.07%
OM growth 3Y14.14%
OM growth 5Y4.34%
PM growth 3Y15.56%
PM growth 5Y2.16%
GM growth 3Y14.28%
GM growth 5Y3.08%
F-Score3
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 1.4
Debt/FCF 10.48
Debt/EBITDA 4.6
Cap/Depr 169.68%
Cap/Sales 8.57%
Interest Coverage 250
Cash Conversion 79.78%
Profit Quality 100.89%
Current Ratio 0.67
Quick Ratio 0.52
Altman-Z 1.37
F-Score3
WACC8.62%
ROIC/WACC0.79
Cap/Depr(3y)192.54%
Cap/Depr(5y)213.81%
Cap/Sales(3y)7.9%
Cap/Sales(5y)10.72%
Profit Quality(3y)99.94%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)19.07%
EPS 3Y15.45%
EPS 5Y10.99%
EPS Q2Q%-4.59%
EPS Next Y5.92%
EPS Next 2Y11.29%
EPS Next 3Y10.18%
EPS Next 5Y9.44%
Revenue 1Y (TTM)39.15%
Revenue growth 3Y9.47%
Revenue growth 5Y16.38%
Sales Q2Q%68.23%
Revenue Next Year30.81%
Revenue Next 2Y15.62%
Revenue Next 3Y13.53%
Revenue Next 5Y7.53%
EBIT growth 1Y38.71%
EBIT growth 3Y24.95%
EBIT growth 5Y21.43%
EBIT Next Year62.27%
EBIT Next 3Y22.09%
EBIT Next 5Y15%
FCF growth 1Y25.81%
FCF growth 3Y15.73%
FCF growth 5YN/A
OCF growth 1Y41.78%
OCF growth 3Y24.28%
OCF growth 5Y20.22%