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OKE stock logo

OKE

ONEOK, Inc.

$87.79
-0.36
 (-0.41%)
Exchange:  NYSE
Market Cap:  55.311B
Shares Outstanding:  106M
Delayed data
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Overview
Earnings
Financials
Valuation
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About The Company

Sector:  Energy
Industry:  Oil & Gas Midstream
   
CEO:  Pierce H. Norton
Full Time Employees:  6326
Address: 
100 West Fifth Street
Tulsa
OK
74103
US
Website:  https://www.oneok.com
ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the comprehensive management of natural gas, encompassing gathering, processing, storage, and transportation. These operations are structured into three distinct segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. The company owns an extensive system of natural gas gathering pipelines and processing plants, predominantly situated in the Mid-Continent and Rocky Mountain regions. Furthermore, ONEOK manages both federally (FERC) and state-regulated interstate and intrastate natural gas transmission pipelines, alongside crucial natural gas storage facilities. A significant component of ONEOK’s business is dedicated to Natural Gas Liquids. The company handles the entire NGL value chain, from collecting, treating, and fractionating to transporting, storing, marketing, and distributing these products. Its NGL infrastructure includes a broad network of gathering and distribution pipelines across Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado. Additionally, NGL terminal and storage assets are maintained in Kansas, Missouri, Nebraska, Iowa, and Illinois. ONEOK also operates pipelines for NGL distribution and refined petroleum products throughout Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, supported by integrated truck and rail loading and unloading facilities connected to its NGL fractionation, storage, and pipeline network. The company’s substantial physical footprint comprises approximately 17,500 miles of natural gas gathering pipelines, 1,500 miles of FERC-regulated interstate natural gas pipelines, and 5,100 miles of state-regulated intrastate transmission pipelines. The NGL segment benefits from six storage facilities and eight product terminals. Separately, ONEOK also owns and leases a parking garage and excess office space in downtown Tulsa, Oklahoma. ONEOK serves a wide and varied customer base throughout the energy sector. This includes integrated and independent exploration and production (E&P) companies, natural gas and NGL gathering and processing enterprises, crude oil and natural gas producers, propane distributors, municipalities, and ethanol producers. The company also supports petrochemical, refining, and NGL marketing firms, as well as natural gas distribution utilities, electric power generation companies, and various other energy producers, processors, and marketers. Founded in 1906, ONEOK, Inc. is headquartered in Tulsa, Oklahoma.

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Revenue Segmentation

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EPS

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/04/29 — 1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue17,677,00021,638,00033,629,000
Gross Profit5,748,0005,050,0007,218,000
EBITDA5,111,0006,595,0007,787,000
Operating Income4,072,0005,021,0006,967,000
Net Income2,659,0003,035,0003,395,000

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets44,266,00064,069,00066,641,000
Total Liabilities27,782,00041,936,00044,072,000
Total Stockholders Equity16,484,00017,036,00022,485,000
Total Debt21,764,00032,077,00032,816,000
Cash and Cash Equivalents338,000733,00078,000

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Cash Flow Statement

Year202320242025
Operating Cash Flow4,421,0004,888,0009,652,000
Capital Expenditure-1,595,0000-5,334,000
Free Cash Flow2,826,0004,888,0004,318,000
Net Income2,659,0003,112,0005,946,000
Net Change in Cash118,000395,00011,085,000

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Analyst Estimates

Fiscal Year2030Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Low)31,352,571.678Full AccessFull AccessFull AccessFull Access
Estimated Revenue (High)44,846,292.642Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Avg)37,270,000Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Low)7,338,208.951Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (High)10,496,474.403Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Avg)8,723,209.388Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Low)3,769,223.429Full AccessFull AccessFull AccessFull Access
Estimated Net Income (High)6,004,687.665Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Avg)4,749,546.463Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Low)0Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (High)0Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Avg)0Full AccessFull AccessFull AccessFull Access
Estimated EPS (Avg)7.520Full AccessFull AccessFull AccessFull Access
Estimated EPS (High)9.510Full AccessFull AccessFull AccessFull Access
Estimated EPS (Low)5.970Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated Revenue)7Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated EPS)5Full AccessFull AccessFull AccessFull Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
21.638B  ?P/S
 (TTM)
: 
1.58
?Net Income
 (TTM)
: 
3.035B  ?P/E
 (TTM)
: 
15.75
?Enterprise Value
 (TTM)
: 
89.08B  ?EV/FCF
 (TTM)
: 
39.73
?Dividend Yield
 (TTM)
: 
0.05  ?Payout Ratio
 (TTM)
: 
0.74
?ROE
 (TTM)
: 
0.16  ?ROIC
 (TTM)
: 
0.09
?Net Debt
 (TTM)
: 
31.56B  ?Debt/Equity
 (TTM)
: 
1.51
?P/B
 (TTM)
: 
2.49  ?Current Ratio
 (TTM)
: 
0.71

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Full Access for high/low estimates and the interactive table.

Forward P/E 1YFull AccessFull AccessFull AccessFull Access
15.40Full AccessFull AccessFull AccessFull Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MARKETSnap estimates OKE intrinsic value between $98.39 – $122.63 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

[intrinsic_calculator]

Common questions about OKE valuation

Is ONEOK, Inc. (OKE) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for ONEOK, Inc. (OKE) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is OKE a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether OKE trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is OKE’s P/E ratio?

You can see OKE’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for OKE?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is OKE a good long-term investment?

Whether OKE fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

OKE

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-0.41
MARKETSnap

Trading Metrics:

Open: 87.68   Previous Close: 88.15
Day Low: 86.57   Day High: 88.38
Year Low: 64.02   Year High: 96.07
Price Avg 50: 88.4   Price Avg 200: 78.79
Volume: 2.441M   Average Volume: 4.612M

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See in Nexus

Relevant news

Is ONEOK Inc (OKE) a Bargain After 3.5% Drop? GF Value Says Undervalued
29-05-2026 17:22
Is ONEOK Inc (OKE) a Bargain After 3.5% Drop? GF Value Says Undervalued
Oneok (OKE) Down 1.2% Since Last Earnings Report: Can It Rebound?
28-05-2026 12:36
Oneok (OKE) Down 1.2% Since Last Earnings Report: Can It Rebound?
ONEOK, Inc. (OKE) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
27-05-2026 18:17
ONEOK, Inc. (OKE) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
ONEOK to Participate in Investor Conference
26-05-2026 16:15
ONEOK to Participate in Investor Conference
ONEOK: An Income Machine Fueled By LNG And AI Growth (Downgrade)
15-05-2026 14:16
ONEOK: An Income Machine Fueled By LNG And AI Growth (Downgrade)
Oneok (OKE) Reports Q1 Earnings: What Key Metrics Have to Say
08-05-2026 17:31
Oneok (OKE) Reports Q1 Earnings: What Key Metrics Have to Say

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