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Oneok OKE Natural Gas Liquids — CapEx

Other segment segments

Natural Gas Gathering and Processing
$317M+31.5%
Refined Products and Crude Oil
$180M+27.7%
Natural Gas Pipelines
$46M-25.8%

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$165.3M+10.9%

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:SegmentExpenditureAdditionToLongLivedAssets.

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 liquids — capex?
Oneok (OKE) reported natural gas liquids — capex of $310M in Q1 2026.
How has Oneok's natural gas liquids — capex changed year-over-year?
Oneok's natural gas liquids — capex increased by 81.3% year-over-year, from $171M to $310M.
What is the long-term trend for Oneok's natural gas liquids — capex?
Over 4 years (2021 to 2025), Oneok's natural gas liquids — capex has grown at a 25.4% compound annual growth rate (CAGR), from $307M to $758M.
What does natural gas liquids — capex mean?
This metric represents the total cash outflows for the acquisition, construction, or improvement of physical assets specifically dedicated to the Natural Gas Liquids (NGL) business segment. It captures investments in gathering, fractionation, storage, and transportation infrastructure required to support NGL operations. Monitoring this figure helps investors assess the company's commitment to expanding or maintaining its midstream NGL asset base.