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OKE · NYSE

ONEOK, Inc.

Oil & Gas Midstream · United States

USD 88.44-0.2% daily changeQuote 2026-10-06 · USD
Market cap (USD)
US$55.76B
Trailing P/E
15.14x
Forward P/E
14.18x
Quarterly revenue growth
52.8%
Trailing net margin
9.3%
Indicated dividend yield
4.8%

Snapshot 2026-10-06 · Latest financial period 2026-06-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2026-10-27 (provider estimate, not issuer-confirmed).

Company background

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.

Company website

Q1 2026

Go beyond the headline.

OKE Stock: Revenue Up 12% — Q1 2026 Earnings Analysis

Published 2026-04-29

Comparable businesses

OKE peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricOKEONEOK, Inc.Snapshot 2026-10-06Financial period: 2026-06-30LNGCheniere Energy, Inc.Snapshot 2026-10-06Financial period: 2026-06-30MPLXMPLX LPSnapshot 2026-10-06Financial period: 2026-06-30Peer medianSimilar-size peers only
Market capMarket value, converted to USDUS$55.76BUS$56.89BUS$57.75BUS$57.32Bn=2
Forward P/EProvider forward earnings estimate14.18x13.08x11.82x12.45xn=2
EV / EBITDAEnterprise value / trailing EBITDA11.58x11.36x13.66x12.51xn=2
Revenue growthLatest quarter vs prior-year quarter52.8%22.7%10.6%16.6%n=2
Operating marginLatest reported quarter13.3%75.0%38.2%56.6%n=2
Free cash flow yieldTrailing cash flow / market cap1.6%1.3%2.4%1.8%n=2
Net debt / EBITDANet debt / trailing EBITDA4.28x3.43x4.11x3.77xn=2
Debt / equityTotal debt / positive book equity1.43x2.43x1.83x2.13xn=2
Trailing P/ETrailing twelve-month earnings15.14x20.85x12.25x16.55xn=2
Price / bookPrice / positive book equity per share2.43x9.25x4.12x6.68xn=2
EV / salesEnterprise value / trailing revenue2.26x4.25x6.94x5.59xn=2
Earnings growthLatest quarter vs prior-year quarter14.2%100.7%3.2%51.9%n=2
Gross marginTrailing twelve months27.2%36.9%55.7%46.3%n=2
Net marginTrailing twelve months9.3%13.9%39.3%26.6%n=2
Return on equityProvider trailing return; positive equity only16.3%39.1%33.7%36.4%n=2
Free cash flow marginTrailing free cash flow / revenue2.3%3.4%11.4%7.4%n=2
Dividend yieldIndicated annual dividend / price4.8%0.8%7.6%4.2%n=2
Earnings payoutProvider trailing dividend payout72.5%16.4%90.0%53.2%n=2
Current ratioCurrent assets / current liabilities0.74x0.87x0.89x0.88xn=2
BetaProvider historical market sensitivity0.800.060.480.27n=2

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

Reported performance

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Valuation & price history

Adjusted closing price

Price history

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-10-06. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for OKE

All available reporting periods
Q1 20262026-04-29

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.