Stock · OKE · Energy
United States · Large Cap · listed since 1985 · Revenue 12 mo. $43.2B
Price as of 11/06/2026
ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States.
ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States. It operates in four segments: Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines; and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent, Permian Basin, North Texas, Gulf Coast region, and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines, fractionation, terminal and storage facilities; and transports refined products, including gasoline, diesel fuel, aviation fuel, kerosene, and heating oil. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities; it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases buildings, warehouses, office space, land, and equipment, including pipeline equipment, pipeline capacity, rail cars, and information technology equipment. Further, the company transports, stores, and distributes refined products, purity NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and diluent users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma.
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Summary
54.1 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €2.2B (2025), it supports €24.4B. The remaining €25.1B of the market value assume it grows 9.9% a year for 10 years and not at all afterwards.
Required FCF growth per year
9.9%
no growth afterwards
Price to operating cash flow 9.1×, within its usual range.
Middle half of 20 quarters: 8.2× to 10.8×, median 9.5×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
with respect to the priced-in expectation
Since the last quarter
Q2 → Q3 2026
2 more unchanged: Shares outstanding, Return on equity
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 15.10% | 11.63% | Rank 68 |
| Return on capital (Greenblatt) | 14.56% | 11.00% | Rank 65 |
| EBIT margin | 20.72% | 14.02% | Rank 65 |
| FCF margin | 7.28% | 7.36% | Rank 47 |
| Gross margin | 21.46% | 23.60% | Rank 39 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 55.42% | −1.93% | Rank 93 |
| Earnings growth, 3 years per year | 11.89% | −10.72% | Rank 82 |
| Earnings growth, 5 years per year | 30.53% | 14.99% | Rank 72 |
| Sustainable growth (ROE × retained earnings) | 9.37% | 9.68% | Rank 46 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 6.31% | 4.80% | Rank 65 |
| FCF yield | 4.44% | 5.05% | Rank 47 |
| EV/saleslower is better | 2.61 | 2.31 | Rank 45 |
| EV/EBITlower is better | 12.62 | 15.16 | Rank 72 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 16.02% | 14.27% | Rank 53 |
| Share price, 6 months | 0.52% | −0.91% | Rank 55 |
| Share price, 3 months | 3.71% | 2.95% | Rank 56 |
| Distance from 52-week high | −12.63% | −17.83% | Rank 73 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 2.37% | 0.88% | Rank 35 |
| Change in share countlower is better | 7.62% | −0.04% | Rank 10 |
| Dividend streak in years | 38 | 3 | Rank 97 |
| Price reaction to results, market-adjusted | −1.76% | 0.36% | Rank 27 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 33.74% | 41.22% | Rank 39 |
| Net debt/EBITDAlower is better | 4.20 | 1.33 | Rank 13 |
| Debt to equitylower is better | 1.46 | 0.69 | Rank 21 |
| Volatility, 1 yearlower is better | 28.08% | 31.61% | Rank 72 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF | Shares | Net debt, $B |
|---|---|---|---|---|---|
| 2016 | 8.9 | 14.1% | $727.0M | 212M | 9.2 |
| 2017 | 12.2 | 12.3% | $803.0M | 300M | 9.1 |
| 2018 | 12.6 | 14.8% | $45.2M | 414M | 9.4 |
| 2019 | 10.1 | 18.5% | −$1.9B | 415M | 12.7 |
| 2020 | 8.5 | 22.5% | −$296.3M | 432M | 13.8 |
| 2021 | 17.3 | 16.5% | $1.8B | 447M | 13.6 |
| 2022 | 22.9 | 13.3% | $1.7B | 448M | 13.5 |
| 2023 | 17.7 | 23.0% | $2.8B | 485M | 21.4 |
| 2024 | 21.6 | 23.2% | $2.9B | 587M | 31.6 |
| 2025 | 33.6 | 20.7% | $2.4B | 631M | 32.7 |
3 of 7 StockScorer Score rules met · How the score is built
ONEOK Inc mainly meets criteria in the Profitability category. Result from 18 strategies checked.
ONEOK Inc is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
3 of 7 rules met
5 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
With a free account, you can see the match across all strategies checked in one complete overview.
Selected fundamental metrics for ONEOK Inc.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 15.8 | 20.0 |
| P/B ratio | 2.4 | 2.3 |
| Return on equity (ROE) | 15.1% | 11.6% |
| Equity ratio | 33.7% | 41.2% |
| Debt-to-equity (D/E) | 1.46 | 0.69 |
| Dividend yield | 5.0% | 3.5% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| OKE | ONEOK Incthis page | |
| LNG | Cheniere Energy Inc | locked |
| MPLX | MPLX LP | locked |
| TRGP | Targa Resources Inc | Low4.5 |
| ET | Energy Transfer LP | locked |
| KMI | Kinder Morgan Inc | locked |
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