What is Oneok Inc's earnings per share (EPS)?

Oneok Inc (OKE) reported diluted earnings per share of $5.42 for fiscal year 2025. This represents a 4.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Oneok Inc Financials

OKE

Trailing 12 months to June 30, 2026

Revenue $39.4B +40.8% YoY

Net Income $3.7B +18.2% YoY

EPS (Diluted) $5.80 +13.1% YoY

Free Cash Flow $2.9B +0.8% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Oneok Inc (OKE) reported $39.4B in revenue over the twelve months to Jun 30, 2026, up 40.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OKE FY2025 2026-08-29

Balance-sheet expansion is ONEOK's dominant mechanic: scale grew faster than cash after reinvestment, while margin compression limited operating leverage.

Revenue expanded from $17.7B in FY2023 to $33.6B in FY2025, but the business did not retain the full benefit of that added scale. Operating margin narrowed from 23.0% to 17.1%, indicating that growth came with a less profitable cost or business mix rather than automatic operating leverage.

Operating cash flow exceeded net income in FY2025, at $5.6B versus $3.4B, so reported earnings converted into cash before investment. But capital intensity increased: capital expenditures reached $3.2B while free cash flow slipped to $2.4B, leaving less cash after reinvestment.

Debt-to-equity improved from 1.8x in FY2024 to 1.4x in FY2025 as equity expanded while liabilities declined, signaling a stronger long-term financing posture. However, short-term liquidity remains tight: a 0.7x current ratio means current liabilities exceeded current assets.

Financial Health Signals

Financial Health Score 56/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Oneok Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

Altman Z-Score Distress

1.62

Oneok Inc scores 1.62, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($59.7B) relative to total liabilities ($44.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Oneok Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.65x

For every $1 of reported earnings, Oneok Inc generates $1.65 in operating cash flow ($5.6B OCF vs $3.4B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.22x

Oneok Inc earns $3.22 in operating income for every $1 of interest expense ($5.7B vs $1.8B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$33.6B

YoY+55.0%

5Y CAGR+31.5%

10Y CAGR+15.8%

Oneok Inc generated $33.6B in revenue in fiscal year 2025. This represents an increase of 55.0% from the prior year.

EBITDA

$7.3B

YoY+18.5%

5Y CAGR+30.2%

10Y CAGR+18.3%

Oneok Inc's EBITDA was $7.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.5% from the prior year.

Net Income

$3.4B

YoY+11.8%

5Y CAGR+40.8%

10Y CAGR+30.1%

Oneok Inc reported $3.4B in net income in fiscal year 2025. This represents an increase of 11.8% from the prior year.

EPS (Diluted)

$5.42

YoY+4.8%

5Y CAGR+30.7%

Oneok Inc earned $5.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 4.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$2.4B

YoY-14.6%

Oneok Inc generated $2.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 14.6% from the prior year.

Cash & Debt

$78.0M

YoY-89.4%

5Y CAGR-31.7%

10Y CAGR-2.2%

Oneok Inc held $78.0M in cash against $30.8B in long-term debt as of fiscal year 2025.

Dividends Per Share

$4.12

YoY+4.0%

5Y CAGR+2.0%

Oneok Inc paid $4.12 per share in dividends in fiscal year 2025. This represents an increase of 4.0% from the prior year.

Shares Outstanding

630M

YoY+0.9%

5Y CAGR+7.2%

Oneok Inc had 630M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin

30.5%

YoY-8.2pp

5Y CAGR-9.7pp

10Y CAGR+3.2pp

Oneok Inc's gross margin was 30.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 8.2 percentage points from the prior year.

Operating Margin

17.1%

YoY-5.9pp

5Y CAGR+1.1pp

10Y CAGR+4.2pp

Oneok Inc's operating margin was 17.1% in fiscal year 2025, reflecting core business profitability. This is down 5.9 percentage points from the prior year.

Net Margin

10.1%

YoY-3.9pp

5Y CAGR+2.9pp

10Y CAGR+6.9pp

Oneok Inc's net profit margin was 10.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.9 percentage points from the prior year.

Return on Equity

15.1%

YoY-2.7pp

5Y CAGR+5.0pp

10Y CAGR-57.9pp

Oneok Inc's ROE was 15.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.7 percentage points from the prior year.

Capital Allocation

Share Buybacks

$75.0M

YoY-52.8%

Oneok Inc spent $75.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 52.8% from the prior year.

Capital Expenditures

$3.2B

YoY+56.0%

5Y CAGR+7.5%

10Y CAGR+10.2%

Oneok Inc invested $3.2B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 56.0% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

OKE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OKE quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$39.4B	$33.6B+55.0%	$21.7B+22.7%	$17.7B-21.0%	$22.4B+35.3%	$16.5B+93.6%	$8.5B-16.0%	$10.2B-19.3%	$12.6B+3.4%	$12.2B+36.5%	$8.9B+14.9%	$7.8B-36.3%	$12.2B+2.7%	$11.9B+16.6%	$10.2B-10.1%	$11.3B
Cost of Revenue	$28.7B	$23.4B+75.6%	$13.3B+11.6%	$11.9B-33.4%	$17.9B+46.1%	$12.3B+139.9%	$5.1B-24.7%	$6.8B-28.0%	$9.4B-1.2%	$9.5B+46.8%	$6.5B+15.2%	$5.6B-44.1%	$10.1B-1.3%	$10.2B+19.7%	$8.5B-12.4%	$9.7B
Gross Profit	$10.7B	$10.3B+22.3%	$8.4B+45.9%	$5.7B+28.4%	$4.5B+4.5%	$4.3B+24.8%	$3.4B+1.7%	$3.4B+6.5%	$3.2B+20.3%	$2.6B+8.7%	$2.4B+14.3%	$2.1B+0.7%	$2.1B+27.7%	$1.6B+0.4%	$1.6B+4.1%	$1.6B
Operating Income	$6.1B	$5.7B+15.1%	$5.0B+22.5%	$4.1B+45.1%	$2.8B+8.1%	$2.6B+90.7%	$1.4B-28.9%	$1.9B+4.3%	$1.8B+31.9%	$1.4B+7.4%	$1.3B+30.1%	$996.2M-12.9%	$1.1B+29.9%	$880.6M-7.6%	$953.5M+3.4%	$922.1M
Interest Expense	$1.8B	$1.8B+30.1%	$1.4B+58.3%	$866.0M+28.1%	$676.0M-7.8%	$733.0M+2.8%	$712.9M+45.0%	$491.8M+4.7%	$469.6M-3.3%	$485.7M+3.4%	$469.7M+12.7%	$416.8M+17.0%	$356.2M+31.6%	$270.6M+13.9%	$237.6M-1.0%	$240.0M
Income Tax	$1.1B	$1.0B+3.0%	$998.0M+19.1%	$838.0M+58.7%	$528.0M+9.1%	$484.0M+155.4%	$189.5M-49.1%	$372.4M+2.6%	$362.9M-18.9%	$447.3M+110.6%	$212.4M+55.5%	$136.6M-9.6%	$151.2M-9.0%	$166.1M-8.1%	$180.8M+11.9%	$161.5M
Net Income	$3.7B	$3.4B+11.8%	$3.0B+14.1%	$2.7B+54.4%	$1.7B+14.8%	$1.5B+144.8%	$612.8M-52.1%	$1.3B+11.0%	$1.2B+197.0%	$387.8M+10.2%	$352.0M+43.7%	$245.0M-22.0%	$314.1M+17.8%	$266.5M-26.1%	$360.6M0.0%	$360.6M
EPS (Diluted)	$5.80	$5.42+4.8%	$5.17-5.7%	$5.48+42.7%	$3.84+14.6%	$3.35+135.9%	$1.42-53.7%	$3.07+10.4%	$2.78+115.5%	$1.29	$1.66+43.1%	$1.16-22.1%	$1.49+17.3%	$1.27-25.7%	$1.71	$1.68

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$12.0B+25.3%	$9.6B+6.1%	$9.1B+5.0%	$8.6B+9.5%	$7.9B-1.9%	$8.0B+14.9%	$7.0B+39.4%	$5.0B
Cost of Revenue	$9.2B+31.0%	$7.1B+10.3%	$6.4B+7.3%	$6.0B+11.2%	$5.4B-5.2%	$5.7B+25.8%	$4.5B+48.5%	$3.0B
Gross Profit	$2.8B+9.4%	$2.6B-3.9%	$2.7B-0.1%	$2.7B+5.7%	$2.5B+5.8%	$2.4B-4.6%	$2.5B+25.5%	$2.0B
Operating Income	$1.6B+11.6%	$1.4B-6.8%	$1.5B-1.7%	$1.6B+8.9%	$1.4B+17.3%	$1.2B-22.2%	$1.6B+39.0%	$1.1B
Interest Expense	$434.0M-1.1%	$439.0M-3.1%	$453.0M+0.7%	$450.0M+2.7%	$438.0M-0.9%	$442.0M-1.3%	$448.0M+37.8%	$325.0M
Income Tax	$299.0M+22.0%	$245.0M-10.6%	$274.0M-7.7%	$297.0M+14.2%	$260.0M+32.0%	$197.0M-39.9%	$328.0M+49.8%	$219.0M
Net Income	$966.0M+24.8%	$774.0M-20.8%	$977.0M+4.0%	$939.0M+11.7%	$841.0M+32.2%	$636.0M-31.1%	$923.0M+33.2%	$693.0M
EPS (Diluted)	$1.53+24.4%	$1.23-20.6%	$1.55+4.0%	$1.49+11.2%	$1.34+28.8%	$1.04-33.8%	$1.57+33.1%	$1.18

Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.

OKE Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OKE quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$66.6B+4.0%	$64.1B+44.7%	$44.3B+81.6%	$24.4B+3.2%	$23.6B+2.4%	$23.1B+5.8%	$21.8B+19.6%	$18.2B+8.2%	$16.8B+4.4%	$16.1B+4.5%	$15.4B+1.2%	$15.3B-13.7%	$17.7B+11.3%	$15.9B+16.0%	$13.7B
Current Assets	$4.5B+5.9%	$4.2B+36.4%	$3.1B+22.0%	$2.5B+7.3%	$2.4B+27.0%	$1.9B+27.2%	$1.5B+5.1%	$1.4B-20.7%	$1.8B+23.4%	$1.4B+46.6%	$975.2M-25.4%	$1.3B-45.6%	$2.4B-14.4%	$2.8B+21.1%	$2.3B
Cash & Equivalents	$78.0M-89.4%	$733.0M+116.9%	$338.0M+53.6%	$220.0M+50.3%	$146.4M-72.1%	$524.5M+2402.6%	$21.0M+75.0%	$12.0M-67.8%	$37.2M-85.1%	$248.9M+154.9%	$97.6M-43.5%	$172.8M+18.7%	$145.6M-74.8%	$577.0M+918.0%	$56.7M
Inventory	$948.0M+26.7%	$748.0M+17.1%	$639.0M+47.9%	$432.0M+1.0%	$427.9M+87.8%	$227.8M-25.3%	$304.9M+2.8%	$296.7M-13.3%	$342.3M+144.4%	$140.0M+9.3%	$128.1M-4.5%	$134.1M-28.8%	$188.3M-20.2%	$235.8M-57.1%	$549.9M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$800.0M-33.3%	$1.2B	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$8.1B-0.4%	$8.1B+63.4%	$5.0B+837.9%	$528.0M+0.1%	$527.6M0.0%	$527.6M-22.5%	$681.0M0.0%	$681.1M0.0%	$681.1M+29.6%	$525.5M0.0%	$525.5M0.0%	$525.5M0.0%	$525.5M+21.2%	$433.5M-28.0%	$601.7M
Total Liabilities	$44.2B-6.1%	$47.0B+69.3%	$27.8B+55.3%	$17.9B+1.6%	$17.6B+3.3%	$17.0B+9.3%	$15.6B+33.8%	$11.7B+3.0%	$11.3B-29.0%	$16.0B+5.6%	$15.1B+3.0%	$14.7B-4.5%	$15.4B+11.5%	$13.8B+20.1%	$11.5B
Current Liabilities	$6.4B+34.9%	$4.7B+36.7%	$3.5B+13.1%	$3.1B-4.2%	$3.2B+136.9%	$1.3B-33.4%	$2.0B-4.2%	$2.1B-21.0%	$2.7B-6.0%	$2.8B+73.2%	$1.6B-31.5%	$2.4B-12.4%	$2.7B-4.4%	$2.9B-12.0%	$3.2B
Long-Term Debt	$30.8B-0.8%	$31.0B+46.4%	$21.2B+66.8%	$12.7B-0.4%	$12.7B-10.4%	$14.2B+14.0%	$12.5B+40.6%	$8.9B+9.7%	$8.1B+2.2%	$7.9B-4.8%	$8.3B+16.4%	$7.2B-7.8%	$7.8B+19.0%	$6.5B+43.8%	$4.5B
Total Equity	$22.5B+32.0%	$17.0B+3.3%	$16.5B+153.8%	$6.5B+7.9%	$6.0B-0.4%	$6.0B-2.9%	$6.2B-5.4%	$6.6B+19.0%	$5.5B+2828.7%	$188.7M-43.8%	$335.8M-43.3%	$592.1M-74.7%	$2.3B+9.8%	$2.1B-4.9%	$2.2B
Retained Earnings	$2.4B+50.3%	$1.6B+81.9%	$868.0M+1636.0%	$50.0M	$0	$0	$0	$0	$0	$0	$0-100.0%	$138.1M-93.2%	$2.0B-1.9%	$2.1B+5.0%	$2.0B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$68.5B+0.5%	$68.2B+2.3%	$66.6B0.0%	$66.6B+3.2%	$64.5B+0.4%	$64.3B+0.3%	$64.1B+25.5%	$51.0B
Current Assets	$5.3B-4.2%	$5.5B+23.5%	$4.5B-13.4%	$5.2B+33.1%	$3.9B-5.3%	$4.1B-2.9%	$4.2B+47.4%	$2.9B
Cash & Equivalents	$161.0M-6.4%	$172.0M+120.5%	$78.0M-93.5%	$1.2B+1136.1%	$97.0M-31.2%	$141.0M-80.8%	$733.0M+26.6%	$579.0M
Inventory	$1.1B-7.0%	$1.1B+19.8%	$948.0M+8.8%	$871.0M+1.5%	$858.0M-5.2%	$905.0M+21.0%	$748.0M+21.4%	$616.0M
Goodwill	$8.1B0.0%	$8.1B0.0%	$8.1B-0.6%	$8.1B+0.1%	$8.1B0.0%	$8.1B0.0%	$8.1B+57.2%	$5.1B
Total Liabilities	$45.6B-0.5%	$45.8B+3.8%	$44.2B-0.9%	$44.5B+4.3%	$42.7B-0.5%	$42.9B-8.8%	$47.0B+37.7%	$34.2B
Current Liabilities	$7.2B-7.8%	$7.8B+22.7%	$6.4B+11.0%	$5.7B-13.7%	$6.6B+7.5%	$6.2B+31.0%	$4.7B+32.7%	$3.6B
Long-Term Debt	$30.8B0.0%	$30.8B0.0%	$30.8B-3.8%	$32.0B+8.0%	$29.6B-0.5%	$29.8B-4.0%	$31.0B+15.4%	$26.9B
Total Equity	$22.9B+2.6%	$22.4B-0.6%	$22.5B+1.8%	$22.1B+1.1%	$21.8B+2.2%	$21.4B+25.4%	$17.0B+0.9%	$16.9B
Retained Earnings	$2.8B+11.7%	$2.5B+4.0%	$2.4B+15.9%	$2.0B+16.0%	$1.8B+12.5%	$1.6B-0.6%	$1.6B+27.6%	$1.2B

Not reported in any period shown, so not listed: Accounts Receivable.

OKE Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OKE quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$6.2B	$5.6B+14.5%	$4.9B+10.6%	$4.4B+52.1%	$2.9B+14.1%	$2.5B+34.1%	$1.9B-2.5%	$1.9B-11.0%	$2.2B+66.2%	$1.3B-2.8%	$1.4B+32.3%	$1.0B-20.4%	$1.3B-0.7%	$1.3B+31.6%	$984.0M-27.4%	$1.4B
Capital Expenditures	$3.3B	$3.2B+56.0%	$2.0B+26.7%	$1.6B+32.7%	$1.2B+72.5%	$697.0M-68.3%	$2.2B-43.0%	$3.8B+79.7%	$2.1B+317.9%	$512.4M-18.0%	$624.6M-47.4%	$1.2B-33.2%	$1.8B-21.2%	$2.3B+20.9%	$1.9B+39.7%	$1.3B
Free Cash Flow	$2.9B	$2.4B-14.6%	$2.9B+1.5%	$2.8B+65.8%	$1.7B-7.8%	$1.8B+724.0%	-$296.3M+84.4%	-$1.9B-4302.9%	$45.2M-94.4%	$803.0M+10.2%	$728.6M+540.3%	-$165.5M+66.5%	-$493.5M+48.7%	-$961.8M-9.0%	-$882.2M-4489.1%	$20.1M
Investing Cash Flow	-$4.0B	-$3.8B+43.3%	-$6.6B-3.2%	-$6.4B-462.2%	-$1.1B-71.3%	-$665.0M+70.7%	-$2.3B+39.8%	-$3.8B-78.2%	-$2.1B-272.6%	-$567.6M+7.8%	-$615.4M+48.3%	-$1.2B+53.6%	-$2.6B+2.9%	-$2.6B-45.6%	-$1.8B-32.3%	-$1.4B
Financing Cash Flow	-$2.1B	-$2.5B-218.1%	$2.1B+0.9%	$2.1B+224.1%	-$1.7B+25.1%	-$2.3B-358.2%	$875.0M-52.2%	$1.8B+1986.6%	-$97.0M+89.9%	-$959.5M-63.6%	-$586.5M-732.4%	$92.7M-92.9%	$1.3B+42.9%	$913.0M-31.8%	$1.3B+2160.4%	$59.2M
Dividends Paid	$2.6B	$2.6B+11.7%	$2.3B+25.8%	$1.8B+10.0%	$1.7B+0.3%	$1.7B+3.8%	$1.6B+10.1%	$1.5B+9.2%	$1.3B+61.0%	$829.4M+60.2%	$517.6M+1.7%	$509.2M+14.7%	$443.8M+45.6%	$304.7M+16.3%	$262.0M+15.4%	$227.0M
Share Buybacks	N/A	$75.0M-52.8%	$159.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$150.0M-50.0%	$300.1M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$2.1B+119.8%	$934.0M-39.6%	$1.5B-4.8%	$1.6B+6.5%	$1.5B+68.7%	$904.0M-43.9%	$1.6B+28.8%	$1.3B
Capital Expenditures	$613.0M-29.1%	$864.0M-10.9%	$970.0M+20.6%	$804.0M+7.3%	$749.0M+19.1%	$629.0M+11.9%	$562.0M+20.1%	$468.0M
Free Cash Flow	$1.4B+1957.1%	$70.0M-87.8%	$576.0M-29.8%	$820.0M+5.7%	$776.0M+182.2%	$275.0M-73.8%	$1.0B+34.0%	$783.0M
Investing Cash Flow	-$782.0M+22.3%	-$1.0B+9.2%	-$1.1B+2.2%	-$1.1B-39.3%	-$814.0M-17.3%	-$694.0M+85.5%	-$4.8B-859.8%	-$498.0M
Financing Cash Flow	-$1.3B-867.7%	$167.0M+110.7%	-$1.6B-354.6%	$612.0M+181.1%	-$755.0M+5.9%	-$802.0M+68.7%	-$2.6B-145.1%	$5.7B
Dividends Paid	$674.0M0.0%	$674.0M+4.0%	$648.0M0.0%	$648.0M+0.6%	$644.0M+0.2%	$643.0M+11.1%	$579.0M+0.2%	$578.0M
Share Buybacks	N/A	N/A	$45.0M	$0	$0-100.0%	$30.0M-81.1%	$159.0M	$0

OKE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

OKE quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	30.5%-8.2pp	38.6%+6.1pp	32.5%+12.5pp	20.0%-5.9pp	25.9%-14.3pp	40.2%+7.0pp	33.2%+8.0pp	25.2%+3.5pp	21.6%-5.5pp	27.2%-0.2pp	27.3%+10.1pp	17.3%+3.4pp	13.9%-2.2pp	16.1%+2.2pp	14.0%
Operating Margin	17.1%-5.9pp	23.0%-0.1pp	23.0%+10.5pp	12.5%-3.1pp	15.7%-0.2pp	15.9%-2.9pp	18.8%+4.2pp	14.6%+3.2pp	11.4%-3.1pp	14.5%+1.7pp	12.8%+3.5pp	9.4%+2.0pp	7.4%-1.9pp	9.4%+1.2pp	8.1%
Net Margin	10.1%-3.9pp	14.0%-1.1pp	15.0%+7.4pp	7.7%-1.4pp	9.1%+1.9pp	7.2%-5.4pp	12.6%+3.4pp	9.2%+6.0pp	3.2%-0.8pp	4.0%+0.8pp	3.2%+0.6pp	2.6%+0.3pp	2.3%-1.3pp	3.5%+0.4pp	3.2%
Return on Equity	15.1%-2.7pp	17.8%+1.7pp	16.1%-10.4pp	26.5%+1.6pp	24.9%+14.8pp	10.1%-10.4pp	20.5%+3.0pp	17.5%+10.5pp	7.0%-179.5pp	186.5%+113.6pp	73.0%+19.9pp	53.0%+41.6pp	11.4%-5.5pp	16.9%+0.8pp	16.1%
Return on Assets	5.1%+0.4pp	4.7%-1.3pp	6.0%-1.0pp	7.1%+0.7pp	6.3%+3.7pp	2.7%-3.2pp	5.9%-0.5pp	6.3%+4.0pp	2.3%+0.1pp	2.2%+0.6pp	1.6%-0.5pp	2.1%+0.5pp	1.5%-0.8pp	2.3%-0.4pp	2.6%
Current Ratio	0.71-0.2x	0.900.0x	0.90+0.1x	0.84+0.1x	0.75-0.6x	1.39+0.7x	0.73+0.1x	0.660.0x	0.66+0.2x	0.50-0.1x	0.600.0x	0.55-0.3x	0.88-0.1x	0.98+0.3x	0.71
Debt-to-Equity	1.37-0.5x	1.82+0.5x	1.29-0.7x	1.96-0.2x	2.12-0.2x	2.35+0.3x	2.00+0.7x	1.35-0.1x	1.46-40.5x	41.96+17.2x	24.79+12.7x	12.08+8.8x	3.32+0.3x	3.06+1.0x	2.02
FCF Margin	7.3%-5.9pp	13.2%-2.8pp	16.0%+8.4pp	7.6%-3.6pp	11.2%+14.6pp	-3.5%+15.2pp	-18.7%-19.1pp	0.4%-6.2pp	6.6%-1.6pp	8.2%+10.3pp	-2.1%+1.9pp	-4.0%+4.0pp	-8.1%+0.6pp	-8.7%-8.8pp	0.2%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	23.3%-3.4pp	26.7%-2.8pp	29.4%-1.5pp	30.9%-1.1pp	32.0%+2.4pp	29.7%-6.1pp	35.8%-4.0pp	39.7%
Operating Margin	13.2%-1.6pp	14.8%-2.1pp	16.9%-1.1pp	18.0%-0.1pp	18.1%+3.0pp	15.2%-7.2pp	22.4%-0.1pp	22.5%
Net Margin	8.0%0.0pp	8.1%-2.7pp	10.8%-0.1pp	10.9%+0.2pp	10.7%+2.7pp	7.9%-5.3pp	13.2%-0.6pp	13.8%
Return on Equity	4.2%+0.8pp	3.5%-0.9pp	4.3%+0.1pp	4.3%+0.4pp	3.9%+0.9pp	3.0%-2.4pp	5.4%+1.3pp	4.1%
Return on Assets	1.4%+0.3pp	1.1%-0.3pp	1.5%+0.1pp	1.4%+0.1pp	1.3%+0.3pp	1.0%-0.4pp	1.4%+0.1pp	1.4%
Current Ratio	0.740.0x	0.710.0x	0.71-0.2x	0.90+0.3x	0.59-0.1x	0.67-0.2x	0.90+0.1x	0.81
Debt-to-Equity	1.340.0x	1.380.0x	1.37-0.1x	1.45+0.1x	1.360.0x	1.39-0.4x	1.82+0.2x	1.59
FCF Margin	11.9%+11.2pp	0.7%-5.6pp	6.3%-3.1pp	9.5%-0.3pp	9.8%+6.4pp	3.4%-11.6pp	15.0%-0.6pp	15.6%

Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Oneok Inc Ranks

Frequently Asked Questions

What is Oneok Inc's annual revenue?

Oneok Inc (OKE) reported $33.6B in total revenue for fiscal year 2025. This represents a 55.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Oneok Inc's revenue growing?

Oneok Inc (OKE) revenue grew by 55.0% year-over-year, from $21.7B to $33.6B in fiscal year 2025.

Is Oneok Inc profitable?

Yes, Oneok Inc (OKE) reported a net income of $3.4B in fiscal year 2025, with a net profit margin of 10.1%.

What is Oneok Inc's EBITDA?

Oneok Inc (OKE) had EBITDA of $7.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Oneok Inc have?

As of fiscal year 2025, Oneok Inc (OKE) had $78.0M in cash and equivalents against $30.8B in long-term debt.

What is Oneok Inc's gross margin?

Oneok Inc (OKE) had a gross margin of 30.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Oneok Inc's operating margin?

Oneok Inc (OKE) had an operating margin of 17.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Oneok Inc's net profit margin?

Oneok Inc (OKE) had a net profit margin of 10.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Oneok Inc pay dividends?

Yes, Oneok Inc (OKE) paid $4.12 per share in dividends during fiscal year 2025.

What is Oneok Inc's return on equity (ROE)?

Oneok Inc (OKE) has a return on equity of 15.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Oneok Inc's free cash flow?

Oneok Inc (OKE) generated $2.4B in free cash flow during fiscal year 2025. This represents a -14.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Oneok Inc's operating cash flow?

Oneok Inc (OKE) generated $5.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Oneok Inc's total assets?

Oneok Inc (OKE) had $66.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Oneok Inc's capital expenditures?

Oneok Inc (OKE) invested $3.2B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Oneok Inc buy back shares?

Yes, Oneok Inc (OKE) spent $75.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Oneok Inc have outstanding?

Oneok Inc (OKE) had 630M shares outstanding as of fiscal year 2025.

What is Oneok Inc's current ratio?

Oneok Inc (OKE) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Oneok Inc's debt-to-equity ratio?

Oneok Inc (OKE) had a debt-to-equity ratio of 1.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Oneok Inc's return on assets (ROA)?

Oneok Inc (OKE) had a return on assets of 5.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Oneok Inc's Altman Z-Score?

Oneok Inc (OKE) has an Altman Z-Score of 1.62, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Oneok Inc's Piotroski F-Score?

Oneok Inc (OKE) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Oneok Inc's earnings high quality?

Oneok Inc (OKE) has an earnings quality ratio of 1.65x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Oneok Inc cover its interest payments?

Oneok Inc (OKE) has an interest coverage ratio of 3.22x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Oneok Inc?

Oneok Inc (OKE) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.