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Oneok OKE Q3 2025 earnings

Reported October 28, 2025 · After market close

Revenue$8.6BMiss by $147.6M
EPS$1.49Beat by $0.05
Revenue estimate$8.8B
EPS estimate$1.44

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$10.5B
EPS estimate$1.46

Financials

Q3 2025

Income statement

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Revenue$8.6B+71.9%
Gross profit$2.7B+33.9%
Operating income$1.6B+38.1%
Net income$939.0M+35.5%
EPS (diluted)$1.49+26.3%

Balance sheet

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Cash & equivalents$1.2B+107%
Total debt$33.7B+19.9%
Total equity$22.1B+30.8%
Total assets$66.6B+30.5%

Cash flow

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Operating cash flow$1.6B+29.8%
CapEx$804.0M+71.8%
Free cash flow$820.0M+4.7%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$45.95B-13.7%
Enterprise value$78.48B-2.9%
P/E13.8×-5.3×
P/S1.5×-1.2×

Profitability

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Gross margin32%-7.2pp
Operating margin18.3%-4.4pp
Net margin10.6%-3.5pp
FCF margin9.3%-4.4pp

Returns & leverage

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Return on equity17.1%+0.3pp
Debt / equity1.5×-0.1×
Current ratio0.9×+0.1×

Segments

By product

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Liquids commodity sales$7.8B+71.9%
Transportation and storage revenue$780.0M+4.4%
Residue natural gas sales$764.0M+249%
Exchange services and natural gas gathering and processing revenue$409.0M—
Other revenue$40.0M+8.1%

By segment

See full
Natural Gas Liquids$3.9B+5.9%
Refined Products and Crude Oil$3.6B+277%
Natural Gas Gathering and Processing$1.8B+103%

FAQ

When did Oneok report Q3 2025 earnings?
Oneok (OKE) reported Q3 2025 earnings on October 28, 2025 after market close.
What were Oneok's Q3 2025 revenue and EPS?
Oneok reported revenue of $8.6B and eps of $1.49 for Q3 2025.
Did Oneok beat estimates in Q3 2025?
Revenue missed the consensus estimate of $8.8B by $147.6M. EPS beat the consensus estimate of $1.44 by $0.05.
How did Oneok's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 71.9% from $5.0B a year earlier and eps grew 26.3% from $1.18.
Where can I find Oneok's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001039684-25-000121) and the 10-Q periodic report (0001039684-25-000123) directly on SEC EDGAR. The filing index links above go to sec.gov.