(OKE) ONEOK - NYSE
Sector: Energy | Industry: Oil & Gas Midstream | Exchange: NYSE (USA) | Market Cap: 56.199m USD | Total Return: 15.7% in 12m
Avg Turnover: 291M
EPS Trend: 22.5%
Qual. Beats: 0
Rev. Trend: 94.1%
Qual. Beats: 2
Warnings
Altman Z'' 1.06 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
ONEOK, Inc. (OKE) is a major U.S. midstream service provider specializing in the gathering, processing, fractionation, and transportation of natural gas, natural gas liquids (NGLs), and refined products. The company operates an extensive infrastructure network across key energy regions, including the Permian Basin, the Mid-Continent, and the Rocky Mountains. Its business model relies on fee-based contracts to move energy commodities from production sites to end-use markets such as utilities, refineries, and petrochemical plants.
The midstream sector functions as the critical link between upstream extraction and downstream consumption, often utilizing long-term agreements to mitigate direct exposure to commodity price volatility. ONEOK’s diversified segments also include significant storage assets and marine export capabilities, which facilitate the global distribution of domestic energy resources. For a more granular look at these financial drivers, you may find further insights on ValueRay.
Headquartered in Tulsa, Oklahoma, the company maintains a comprehensive portfolio of regulated interstate pipelines and distribution facilities. Beyond core energy logistics, ONEOK engages in commodity-related activities such as liquids blending and marketing to optimize its asset utilization. This integrated structural approach allows the firm to serve a wide range of industrial, municipal, and commercial clients across the North American energy landscape.
- NGL volume growth in Permian and Rocky Mountain basins drives fee-based revenue
- Magellan Midstream integration realizes significant cost synergies and increases refined product exposure
- Natural gas processing margins fluctuate with regional commodity price spreads and production levels
- Capital expenditure on export infrastructure expands global market access for domestic energy liquids
| Net Income: 3.53b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -1.47 > 1.0 |
| NWC/Revenue: -6.44% < 20% (prev -8.28%; Δ 1.84% < -1%) |
| CFO/TA 0.08 > 3% & CFO 5.63b > Net Income 3.53b |
| Net Debt (33.6b) to EBITDA (7.85b): 4.28 < 3 |
| Current Ratio: 0.71 > 1.5 & < 3 |
| Outstanding Shares: last quarter (631.6m) vs 12m ago 3.12% < -2% |
| Gross Margin: 23.95% > 18% (prev 23.93%; Δ 0.01% > 0.5%) |
| Asset Turnover: 53.15% > 50% (prev 38.84%; Δ 14.31% > 0%) |
| Interest Coverage Ratio: 3.56 > 6 (EBIT TTM 6.34b / Interest Expense TTM 1.78b) |
| A: -0.03 (Total Current Assets 5.54b - Total Current Liabilities 7.81b) / Total Assets 68.2b |
| B: 0.04 (Retained Earnings 2.47b / Total Assets 68.2b) |
| C: 0.10 (EBIT TTM 6.34b / Avg Total Assets 66.2b) |
| D: 0.49 (Book Value of Equity 22.4b / Total Liabilities 45.8b) |
| Altman-Z'' = 1.06 = BB |
| DSRI: 0.98 (Receivables 3.67b/2.65b, Revenue 35.2b/25.0b) |
| GMI: 1.00 (GM 23.93% / 23.95%) |
| AQI: 0.97 (AQ_t 0.21 / AQ_t-1 0.22) |
| SGI: 1.41 (Revenue 35.2b / 25.0b) |
| TATA: -0.03 (NI 3.53b - CFO 5.63b) / TA 68.2b) |
| Beneish M = -2.77 (Cap -4..+1) = A |
As of June 14, 2026, the stock is trading at USD 90.59 with a total of 2,244,194 shares traded.
Over the past week, the price has changed by +2.65%,
over one month by +2.44%,
over three months by +7.94% and
over the past year by +15.65%.
ONEOK has received a consensus analysts rating of 4.11. Therefore, it is recommended to buy OKE.
- StrongBuy: 8
- Buy: 5
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 95.5 | 5.4% |
P/E Trailing = 15.9002
P/E Forward = 15.9744
P/S = 1.5964
P/B = 2.5137
P/EG = 2.1515
Revenue TTM = 35.2b USD
EBIT TTM = 6.34b USD
EBITDA TTM = 7.85b USD
Long Term Debt = 30.8b USD (from longTermDebt, last quarter)
Short Term Debt = 2.89b USD (from shortTermDebt, last quarter)
Debt = 33.7b USD (from shortLongTermDebtTotal, last quarter) + Leases 97.0m
Net Debt = 33.6b USD (calculated: Debt 33.7b - CCE 172.0m)
Enterprise Value = 89.8b USD (56.2b + Debt 33.7b - CCE 172.0m)
Interest Coverage Ratio = 3.56 (Ebit TTM 6.34b / Interest Expense TTM 1.78b)
EV/FCF = 40.04x (Enterprise Value 89.8b / FCF TTM 2.24b)
FCF Yield = 2.50% (FCF TTM 2.24b / Enterprise Value 89.8b)
FCF Margin = 6.37% (FCF TTM 2.24b / Revenue TTM 35.2b)
Net Margin = 10.04% (Net Income TTM 3.53b / Revenue TTM 35.2b)
Gross Margin = 23.95% ((Revenue TTM 35.2b - Cost of Revenue TTM 26.8b) / Revenue TTM)
Gross Margin QoQ = 26.67% (prev 29.44%)
Tobins Q-Ratio = 1.32 (Enterprise Value 89.8b / Total Assets 68.2b)
Interest Expense / Debt = 5.27% (Interest Expense 1.78b / Debt 33.7b)
Taxrate = 23.27% (1.08b / 4.62b)
NOPAT = 4.86b (EBIT 6.34b * (1 - 23.27%))
Current Ratio = 0.71 (Total Current Assets 5.54b / Total Current Liabilities 7.81b)
Debt / Equity = 1.51 (Debt 33.7b / totalStockholderEquity, last quarter 22.4b)
Debt / EBITDA = 4.28 (Net Debt 33.6b / EBITDA 7.85b)
Debt / FCF = 14.98 (Net Debt 33.6b / FCF TTM 2.24b)
Total Stockholder Equity = 22.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.33% (Net Income 3.53b / Total Assets 68.2b)
RoE = 15.92% (Net Income TTM 3.53b / Total Stockholder Equity 22.2b)
RoCE = 11.97% (EBIT 6.34b / Capital Employed (Equity 22.2b + L.T.Debt 30.8b))
RoIC = 7.71% (NOPAT 4.86b / Invested Capital 63.1b)
WACC = 6.17% (E(56.2b)/V(89.9b) * Re(7.44%) + D(33.7b)/V(89.9b) * Rd(5.27%) * (1-Tc(0.23)))
Discount Rate = 7.44% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.39 | Cagr: 3.43%
[DCF] Terminal Value 73.10% ; FCFF base≈2.57b ; Y1≈2.25b ; Y5≈1.82b
[DCF] Fair Price = N/A (negative equity: EV 29.2b - Net Debt 33.6b = -4.37b; debt exceeds intrinsic value)
EPS Correlation: 22.45 | EPS CAGR: 2.09% | SUE: -0.68 | # QB: 0
Revenue Correlation: 94.12 | Revenue CAGR: 32.22% | SUE: 1.62 | # QB: 2
EPS current Quarter (2026-06-30): EPS=1.46 | Chg30d=+1.59% | Revisions=+20% | Analysts=13
EPS next Quarter (2026-09-30): EPS=1.46 | Chg30d=-0.11% | Revisions=+11% | Analysts=12
EPS current Year (2026-12-31): EPS=5.71 | Chg30d=+0.20% | Revisions=+17% | GrowthEPS=+5.4% | GrowthRev=+14.6%
EPS next Year (2027-12-31): EPS=6.15 | Chg30d=-0.26% | Revisions=+0% | GrowthEPS=+7.6% | GrowthRev=-2.3%
[Analyst] Revisions Ratio: +20%