ONEOK, Inc.

OKE

$95.75

-0.27%

N/A-$0.26

Energy

Oil & Gas Midstream

NYSE

Active Trading

ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the ...

Key Metrics of OKE

Snapshot

Latest / TTM · 6 periods

Market Cap

$60.34B

ROCE

11.9%

EV / EBITDA

11.78x

+0.3% YoY

FCF Yield

4.8%

-0.5% YoY

Cash Conversion Cycle

3.5d

Current Ratio

0.74

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Key Metrics

Latest / TTM · 6 periods

Valuation trend

Valuation trend table

Metric	2021	2022	2023	2024	2025	TTM
Market CapTotal market value of all shares outstanding.	$26.23B	$29.40B	$34.01B	$58.88B	$46.30B	$60.34B
Enterprise ValueCompany value including debt and cash adjustments.	$39.82B	$42.88B	$55.43B	$90.44B	$79.04B	$93.20B
EV / SalesHow many dollars investors pay per dollar of sales.	2.31x	1.88x	3.14x	4.18x	2.35x	2.37x
EV / EBITDAValuation multiple versus operating earnings before non-cash charges.	12.07x	12.19x	10.85x	13.71x	10.15x	11.78x
Net Debt / EBITDALeverage ratio using net debt divided by EBITDA.	4.12	3.83	4.19	4.79	4.20	4.15

Returns + ROCE gauge

ROCE latest

11.9%

Prev year 11.6%

Returns + ROCE gauge table

Metric	2021	2022	2023	2024	2025	TTM
ROEProfit generated from shareholders' equity.	24.9%	26.5%	16.1%	17.8%	15.1%	16.3%
ROAProfit generated from total assets.	6.4%	7.1%	6.0%	4.7%	5.1%	5.3%
ROICReturn generated on invested operating capital.	10.5%	11.0%	8.5%	7.3%	8.5%	8.5%
ROCEOperating return on long-term capital used.	14.0%	14.2%	10.0%	8.5%	11.6%	11.9%
Earnings YieldEarnings as a percentage of market value.	5.7%	5.9%	7.8%	5.2%	7.3%	6.1%

Cash flow quality

Cash flow quality table

Metric	2021	2022	2023	2024	2025	TTM
FCFFCash flow available to all capital providers.	$2.37B	$2.20B	$3.47B	$3.89B	$3.82B	$4.27B
FCFECash flow available to equity holders after debt flows.	$1.24B	$1.68B	$6.82B	$7.96B	$3.28B	$3.52B
FCF YieldFree cash flow divided by market capitalization.	7.1%	5.8%	8.3%	4.9%	5.3%	4.8%
Income QualityHow well accounting earnings are backed by cash flow.	1.70	1.69	1.66	1.57	1.62	1.68
Capex / OCFShare of operating cash flow spent on capital expenditures.	27.4%	41.4%	36.1%	41.3%	56.3%	52.8%

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	TTM
DSOAverage days to collect cash from customers.	30.5d	24.5d	35.2d	39.2d	32.7d	32.9d
DIOAverage days inventory stays before being sold.	14.9d	10.7d	24.1d	16.5d	13.1d	12.5d
DPOAverage days the company takes to pay suppliers.	34.1d	25.1d	47.9d	48.1d	39.2d	41.9d
Operating CycleTime from buying inventory to collecting receivables.	45.3d	35.2d	59.3d	55.7d	45.8d	45.4d
Cash Conversion CycleNet days cash is tied in operations.	11.2d	10.1d	11.4d	7.6d	6.5d	3.5d

Snapshot

Latest / TTM: —

Market Cap

$60.34B

ROE

16.3%

FCF Yield

4.8%

Current Ratio

0.74

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