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Oneok OKE Natural Gas Gathering and Processing — Cost of Revenue

Other segment segments

Refined Products and Crude Oil
$4.05B+121%
Natural Gas Liquids
$2.77B-19.9%
Natural Gas Pipelines
$270M+187%

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NFGNatural Gas Gathering Service — Total Revenues from Contracts with Customers
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SRENatural Gas Gathering Transportation Marketing And Processing — Revenues from contracts with customers
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ARNatural Gas Gathering Transportation Marketing And Processing — Cost of Goods Sold
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Other financials

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

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Market cap$56.4B+9.6%
Enterprise value$88.64B+9.0%
P/E16×-1.0×
P/S1.6×-0.5×

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×

Where this comes from

Reported directly by Oneok in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

The official record: Oneok’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Oneok's natural gas gathering and processing — cost of revenue?
Oneok (OKE) reported natural gas gathering and processing — cost of revenue of $1.29B in Q1 2026.
How has Oneok's natural gas gathering and processing — cost of revenue changed year-over-year?
Oneok's natural gas gathering and processing — cost of revenue decreased by 11.2% year-over-year, from $1.46B to $1.29B.
What is the long-term trend for Oneok's natural gas gathering and processing — cost of revenue?
Over 4 years (2021 to 2025), Oneok's natural gas gathering and processing — cost of revenue has grown at a 9.4% compound annual growth rate (CAGR), from $3.23B to $4.62B.
What does natural gas gathering and processing — cost of revenue mean?
Includes the direct costs associated with the natural gas gathering and processing segment, such as the purchase of natural gas and natural gas liquids, and other variable costs directly tied to revenue generation. This metric reflects the direct variable expenses required to maintain operations and fulfill service contracts.