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ONEOK Inc OKE

US equityMarket cap rank #285Oil & Gas MidstreamNatural Gas
$91.23
+$0.69 (+0.76%)
Market open · Sep 24, 2:00 pm ET
After hours $90.54 0.00%
Open$91.11
Prev close$90.54
Day range$90.37 – $92.16
Volume1.33M
Market cap$57.51B
P/E (TTM)15.8
Dividend yield4.60%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$12.05B+52.8% YoY
Operating profit$1.60B+9.9% YoY
Net profit$967.00M+13.4% YoY
Diluted EPS$1.53+14.2% YoY
Free cash flow$1.44B+85.6% YoY
Operating cash flow$2.05B

Revenue, last 8 quarters

$5.0BSep '24$7.0BDec '24$8.0BMar '25$7.9BJun '25$8.6BSep '25$9.1BDec '25$9.6BMar '26$12.0BJun '26

Net profit, last 8 quarters

$693.0MSep '24$1.0BDec '24$691.0MMar '25$853.0MJun '25$940.0MSep '25$978.0MDec '25$776.0MMar '26$967.0MJun '26

Diluted EPS by quarter

1.18Sep '241.57Dec '241.04Mar '251.34Jun '251.49Sep '251.55Dec '251.23Mar '261.53Jun '26

Free cash flow by quarter

$783.0MSep '24$1.0BDec '24$275.0MMar '25$776.0MJun '25$820.0MSep '25$576.0MDec '25$70.0MMar '26$1.4BJun '26

Annual revenue

$8.5BFY20$16.5BFY21$22.4BFY22$17.7BFY23$21.7BFY24$33.6BFY25

Profitability & balance sheet

Gross margin23.3%
Operating margin15.6%
Net margin9.3%
Return on equity16.3%
Return on assets5.5%
Return on invested capital9.1%
Current ratio0.74
Liabilities / assets66.3%
Cash & investments$161.00M
Total debt$33.02B
Net cash (debt)-$32.86B
Free cash flow / sales7.4%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Refined Products and Crude$7.13B 50.8%
  • Natural Gas Liquids$4.59B 32.7%
  • Natural Gas Gathering and Processing$1.88B 13.4%
  • Natural Gas Pipelines$449.00M 3.2%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $12.05B $9.62B $33.63B $9.07B $8.63B
Total Operating Revenue $12.05B $9.62B $33.63B $9.07B $8.63B
Cost of Revenue $9.63B $7.43B $24.89B $6.78B $6.34B
Gross Profit $2.42B $2.19B $8.74B $2.28B $2.29B
Operating Expense $823.00M $752.00M $2.92B $742.00M $726.00M
Other Taxes $108.00M $112.00M $378.00M $94.00M $99.00M
Operating Profit $1.60B $1.44B $5.82B $1.54B $1.57B
Net Non-Operating Interest Income (Expense) -$434.00M -$439.00M -$1.78B -$453.00M -$450.00M
Non-Operating Interest Expense $434.00M $439.00M $1.78B $453.00M $450.00M
Other Income (Expense) $103.00M $25.00M $451.00M $166.00M $119.00M
Earnings from Equity Interest $103.00M $89.00M $386.00M $105.00M $92.00M
Special Income (Charges) -$4.00M -$67.00M -$81.00M -$7.00M -$10.00M
-Less:Restructuring and Mergern & Acquisition $4.00M $7.00M $81.00M $7.00M $10.00M
-Less:Write Off $0.00 $60.00M – – –
Other Non-Operating Income (Expenses) $4.00M $3.00M $146.00M $68.00M $37.00M
Pretax Profit $1.27B $1.02B $4.49B $1.25B $1.24B
Tax $299.00M $245.00M $1.03B $274.00M $297.00M
Net Profit $967.00M $776.00M $3.46B $978.00M $940.00M
Profit from Continuing Operations $967.00M $776.00M $3.46B $978.00M $940.00M
Minority Interests $1.00M $2.00M $69.00M $1.00M $1.00M
Net Income to Parent Company $966.00M $774.00M $3.39B $977.00M $939.00M
Net Income to Common Stockholders $966.00M $774.00M $3.39B $977.00M $939.00M
Basic EPS $1.53 $1.23 $5.43 $1.55 $1.49
Diluted EPS $1.53 $1.23 $5.42 $1.55 $1.49
Dividend Per Share $1.07 $1.07 $4.12 $1.03 $1.03
Other Operating Expenses – $6.00M -$43.00M -$25.00M -$12.00M

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $68.55B $68.20B $66.64B $66.64B $66.62B
Total Current Assets $5.31B $5.54B $4.49B $4.49B $5.19B
Cash and Cash Equivalents & Short-Term Investments $161.00M $172.00M $78.00M $78.00M $1.20B
-Cash and Cash Equivalents $161.00M $172.00M $78.00M $78.00M $1.20B
Receivables $3.55B $3.67B $3.01B $3.01B $2.58B
-Accounts Receivable $3.55B $3.67B $3.01B $3.01B $2.58B
Inventory $1.06B $1.14B $948.00M $948.00M $871.00M
Other Current Assets $543.00M $565.00M $452.00M $452.00M $535.00M
Total Non-Current Assets $63.24B $62.66B $62.15B $62.15B $61.43B
Net PPE $48.77B $48.30B $47.86B $47.86B $47.16B
-Gross PPE $57.09B $56.27B $55.49B $55.49B $54.45B
-Accumulated Depreciation -$8.32B -$7.97B -$7.63B -$7.63B -$7.30B
Investments and Advances $3.14B $2.99B $2.89B $2.89B $2.77B
-Long Term Equity Investment $3.14B $2.99B $2.89B $2.89B $2.77B
Goodwill and Other Intangible Assets $10.89B $10.93B $10.96B $10.96B $11.04B
-Goodwill $8.06B $8.06B $8.06B $8.06B $8.11B
-Other Intangible Assets $2.84B $2.87B $2.90B $2.90B $2.94B
Other Non-Current Assets $433.00M $445.00M $444.00M $444.00M $457.00M
Total Liabilities $45.47B $45.72B $44.07B $44.07B $44.46B
Total Current Liabilities $7.20B $7.81B $6.37B $6.37B $5.74B
Payables $3.53B $3.57B $2.84B $2.84B $2.57B
-Accounts Payable $3.53B $3.57B $2.84B $2.84B $2.57B
Current Accrued Expenses $459.00M $515.00M $499.00M $499.00M $450.00M
Short-Term Debt and Capital Lease Obligation $2.25B $2.89B $2.06B $2.06B $1.74B
-Current Debt $2.25B $2.89B $2.06B $2.06B $1.74B
Other Current Liabilities $963.00M $836.00M $967.00M $967.00M $975.00M
Total Non-Current Liabilities $38.26B $37.90B $37.71B $37.71B $38.72B
Long Term Debt and Capital Lease Obligation $30.77B $30.76B $30.76B $30.76B $31.99B
-Long Term Debt $30.77B $30.76B $30.76B $30.76B $31.99B
Non-Current Deferred Liabilities $7.49B $7.14B $6.95B $6.95B $6.74B
Total Equity $23.08B $22.49B $22.57B $22.57B $22.16B
Stockholders' Equity $22.94B $22.36B $22.49B $22.49B $22.08B
Capital Stock $7.00M $7.00M $7.00M $7.00M $7.00M
-Common Stock $7.00M $7.00M $7.00M $7.00M $7.00M
Additional Paid-In Capital $21.01B $20.97B $20.96B $20.96B $20.93B
Retained Earnings $2.76B $2.47B $2.37B $2.37B $2.05B
Less: Treasury Stock $808.00M $818.00M $829.00M $829.00M $843.00M
Gains/Losses Not Affecting Retained Earnings -$28.00M -$266.00M -$27.00M -$27.00M -$65.00M
Minority Interests $144.00M $131.00M $84.00M $84.00M $76.00M
-Preferred Stock – – $0.00 $0.00 $0.00

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $2.05B $934.00M $5.60B $1.55B $1.62B
Net cash flow from continuing operations $2.05B $934.00M $5.60B $1.55B $1.62B
Net Income from Continuing Operations $967.00M $776.00M $3.46B $978.00M $940.00M
Gain/Loss from Continuing Operations -$103.00M -$89.00M -$386.00M -$105.00M -$92.00M
Depreciation & Depletion & Amortization $387.00M $378.00M $1.51B $388.00M $378.00M
Deferred Tax $289.00M $256.00M $957.00M $226.00M $337.00M
Other Non-Cash Items $39.00M $48.00M $35.00M -$12.00M $24.00M
Change in Working Capital $356.00M -$605.00M -$380.00M -$33.00M -$58.00M
-Change in Receivables $119.00M -$656.00M -$683.00M -$430.00M -$100.00M
-Change in Inventory $33.00M -$173.00M -$263.00M -$93.00M -$30.00M
-Change in Payables and Accrued Expense -$225.00M $810.00M $671.00M $314.00M $56.00M
-Change In Other Working Capital $429.00M -$586.00M -$105.00M $176.00M $16.00M
Net cash flow from investing -$782.00M -$1.01B -$3.75B -$1.11B -$1.13B
Net Cash Flow from Continuing Investing Activities -$782.00M -$1.01B -$3.75B -$1.11B -$1.13B
Capital Expenditure -$613.00M -$864.00M -$3.15B -$970.00M -$804.00M
Net Business Purchase and Sale -$170.00M -$183.00M -$647.00M -$148.00M -$344.00M
Net Other Investing Changes $1.00M $40.00M $48.00M $9.00M $14.00M
Financing Cash Flow -$1.28B $167.00M -$2.50B -$1.56B $612.00M
Net Cash Flow from Continuing Financing Activities -$1.28B $167.00M -$2.50B -$1.56B $612.00M
Net Issuance Payments Of Debt -$639.00M $827.00M $830.00M -$874.00M $1.30B
Cash Dividends Paid -$674.00M -$674.00M -$2.58B -$648.00M -$648.00M
Net Other Financing Charges $31.00M $14.00M -$675.00M $9.00M -$12.00M
Ending Cash Balance $161.00M $172.00M $78.00M $78.00M $1.20B
Net Change in Cash -$11.00M $94.00M -$655.00M -$1.12B $1.10B
Beginning Cash Balance $172.00M $78.00M $733.00M $1.20B $97.00M
Free Cash Flow $1.44B $70.00M $2.45B $576.00M $820.00M
Net Common Stock Issuance – – -$75.00M -$45.00M $0.00
Net Preferred Stock Issuance – – $0.00 – –
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