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Oneok

OKE

Oneok, Inc. is a leading North American midstream service provider operating an extensive integrated energy infrastructure network.

Market cap
$57.43B+11.9%
Revenue$35.2B+41.0%
Net income$3.5B+16.5%
Free cash flow$2.2B-26.7%
EPS (diluted)$5.61+9.6%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 3, 2026 (In 3 weeks)
Revenue estimate$8.6B
EPS estimate$1.48

Financials

Q1 2026

Income statement

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Revenue$9.6B+19.6%
Gross profit$2.6B+7.4%
Operating income$1.4B+17.0%
Net income$774.0M+21.7%
EPS (diluted)$1.23+18.3%

Balance sheet

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Cash & equivalents$172.0M+22.0%
Total debt$32.4B+8.1%
Total equity$22.4B+4.6%
Total assets$68.2B+6.1%

Cash flow

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Operating cash flow$934.0M+3.3%
CapEx$864.0M+37.4%
Free cash flow$70.0M-74.5%

Valuation & ratios

Valuation

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Market cap$57.43B+11.9%
Enterprise value$89.67B+9.3%
P/E16.3×-0.3×
P/S1.6×-0.2×

Profitability

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Gross margin29.6%-6.0pp
Operating margin16.9%-3.7pp
Net margin10%-2.1pp
FCF margin6.4%-5.9pp

Returns & leverage

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Return on equity16.2%+0.1pp
Debt / equity1.4×0.0×
Current ratio0.7×0.0×

Segments

By product

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Liquids commodity sales$8.6B+19.3%
Residue natural gas sales$1.2B+14.5%
Transportation and storage revenue$801.0M-1.6%
Exchange services and natural gas gathering and processing revenue$343.0M+19.5%
Other revenue$42.0M+10.5%

By segment

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Refined Products and Crude Oil$4.7B+91.1%
Natural Gas Liquids$3.6B-14.6%
Natural Gas Gathering and Processing$2.0B-9.1%

Competitors

Profile

Oneok, Inc. is a leading North American midstream service provider operating an extensive integrated energy infrastructure network. The company specializes in the gathering, processing, fractionation, transportation, storage, and marketing of natural gas, natural gas liquids (NGLs), refined products, and crude oil. Its primary value proposition centers on connecting prolific shale basins with key demand centers and export markets through a significant fee-based asset base.

Competitive position

One of the largest integrated energy infrastructure companies in North America with a 60,000-mile pipeline network and strategic presence in the Permian, Williston, and Anadarko basins.

GeographiesUnited States, Mexico, Canada
Customer segmentsUpstream producers, Industrial manufacturers, Utilities, Transportation providers
Business modelFee-based infrastructure, Regulated tariffs, Take-or-pay contracts, Commodity optimization
SuppliersExploration and production companies, Drilling and completion activity, Power providers for compression and fractionation
CustomersPetrochemical plants, Refineries, Electric utilities, Retail fuel distributors, International export markets
Listed1954
Employees4.8K
CEOPierce H. Norton
SectorEnergy
Websiteoneok.com
FilingsSEC EDGAR

Questions, answered.

What is Oneok's market cap?
Oneok (OKE) has a market capitalization of $57.4B and trades on NYSE.
What is Oneok's revenue and profitability?
Oneok generated $35.2B in trailing twelve-month revenue with net income of $3.5B, representing a net margin of 10.0%. Gross margin stands at 29.6%, with free cash flow of $2.2B. These figures are based on the Q1 2026 filing.
Who are Oneok's competitors?
Oneok's key competitors include Enterprise Products Partners L.P., Kinder Morgan, Inc., Targa Resources Corp., and others. These companies compete in similar markets and product categories.
Who does Oneok partner with?
Oneok's notable partners include MPLX LP, WhiteWater, Enbridge Inc..
What subsidiaries does Oneok have?
Oneok's subsidiaries include EnLink Midstream, Medallion Midstream, BridgeTex Pipeline Company.
Where is Oneok headquartered?
Oneok is headquartered in United States of America and employs approximately 4,775 people. It has been publicly traded since 1954.