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ONEOK, Inc.

OKEEnergyNASDAQ

Oil & Gas Midstream · Last scanned May 30, 2026

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Financials · Annual
Revenue
$33.63B
+55.0% YoY
Net Income
$3.39B
+11.8% YoY
EBITDA
$7.79B
+17.7% YoY
Free Cash Flow
$454.4M

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About ONEOK, Inc.

ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States. The company carries a $52.88B market cap, placing it firmly in the large-cap category. It operates in four segments: Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines; and Refined Products and Crude.

Key stats
Market Cap$52.88B
P/E (TTM)14.96
Fwd P/E13.63
EPS$5.61
Beta0.76
52W Change+1.7%
Dividend Yield5.10%
ROE15.9%
Analysis

The company holds $172.0M in cash, though total debt stands at $33.65B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Annual free cash flow of $454.4M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. Return on equity stands at 15.9%, which is strong for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. An ROA of 5.7% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $22.39B (2022) to $33.63B (2025), reflecting a 50% increase over the period.

The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for ONEOK, Inc. and its sector.

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