Stocktoria

ONEOK INC /NEW/ OKE

NYSE · stock · Natural Gas Transmisison & Distribution · website · IPO 1954-05-24

ONEOK INC /NEW/ statistics & valuation

Market cap$56.2B
P / E16.6×
P / S1.7×
P / B2.5×
P / FCF23.0×
Dividend yield4.60%
Net margin10.1%
Return on equity15.0%
FCF margin7.3%
Net debt$31.9B
Net debt / EBITDA4.4×
Enterprise value USD$88.1B
EV / EBITDA12.1×
Earnings yield EBIT/EV6.5%
Return on capital9.5%
Graham number -28.5%$66.11

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($66.11); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.90% 3.20% 9.10% 12.60% 7.20% 7.70% 15.00% 14.00% 10.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
14.50% 11.40% 14.60% 18.80% 15.90% 15.70% 12.50% 23.00% 23.00% 17.10% 2016201720182019202020212022202320242025
Return on equity (%)
10.30% 6.80% 17.50% 20.50% 10.10% 26.50% 16.10% 13.70% 15.00% 2016201720182019202020212022202320242025
Shares outstanding
424.8M 388.7M 414.2M 415.4M 444.9M 447.4M 448.4M 583.1M 586.5M 629.7M 2016201720182019202020212022202320242025
Net debt ($)
$8.05B $8.46B $9.39B $12.48B $13.70B $13.45B $13.38B $21.36B $31.37B $31.92B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2.20% 2.30% 6.30% 5.90% 2.70% 7.10% 6.00% 4.70% 5.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
8.20% 6.60% 0.40% -18.70% -3.50% 11.20% 7.60% 16.00% 13.20% 7.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2.42× 1.50× 1.43× 2.01× 2.35× 2.26× 2.09× 1.32× 1.45× 1.42× 2016201720182019202020212022202320242025
EPS ($)
$0.83 $1.29 $2.78 $3.07 $1.42 $3.35 $3.84 $5.48 $5.17 $5.42 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ONEOK INC /NEW/ trades at about 17.1× earnings — below its 10-year norm (10-year range 12.5×–66.4×, median 23.1×).

12.5× 66.4×

Shaded band = 10-year range (12.5×–66.4×); dot = today's 17.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin17.1%23.0%23.0%12.5%15.7%15.9%18.8%14.6%11.4%14.5%
Net margin10.1%14.0%15.0%7.7%—7.2%12.6%9.1%3.2%3.9%
FCF margin7.3%13.2%16.0%7.6%11.2%-3.5%-18.7%0.4%6.6%8.2%
Return on assets5.1%4.7%6.0%7.1%—2.7%5.9%6.3%2.3%2.2%
Return on equity15.0%13.7%16.1%26.5%—10.1%20.5%17.5%6.8%10.3%
Debt / equity1.42×1.45×1.32×2.09×2.26×2.35×2.01×1.43×1.50×2.42×
Current ratio0.710.900.900.840.751.390.730.660.660.50

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.