Natural Gas Liquids — Cost of Revenue
Oneok Natural Gas Liquids — Cost of Revenue decreased by 9.8% to $2.77B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 19.9%, from $3.46B to $2.77B. Over 4 years (FY 2021 to FY 2025), Natural Gas Liquids — Cost of Revenue shows relatively stable performance with a 1.2% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase relative to revenue indicates margin compression, while a decrease relative to revenue suggests improved cost management or favorable commodity price spreads.
Detailed definition
This metric captures the direct costs associated with the production, purchase, and transportation of natural gas liquid...
Peer comparison
Commonly reported as Cost of Goods Sold (COGS) for energy midstream segments.
oke_segment_natural_gas_liquids_cost_of_revenueHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.40B | $3.38B | $4.10B | $4.09B | $4.54B | $4.32B | $3.60B | $3.10B | $2.63B | $2.88B | $3.00B | $2.70B | $2.75B | $2.91B | $3.64B | $3.46B | $3.03B | $2.98B | $3.07B | $2.77B |
| QoQ Change | — | +40.8% | +21.4% | -0.3% | +11.1% | -5.0% | -16.7% | -14.0% | -15.1% | +9.4% | +4.2% | -9.9% | +1.9% | +5.7% | +25.3% | -5.1% | -12.4% | -1.7% | +3.1% | -9.8% |
| YoY Change | — | — | — | — | +89.3% | +27.8% | -12.3% | -24.3% | -42.2% | -33.4% | -16.7% | -12.8% | +4.6% | +1.1% | +21.6% | +28.1% | +10.3% | +2.4% | -15.7% | -19.9% |
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Oneok's natural gas liquids — cost of revenue?
- Oneok (OKE) reported natural gas liquids — cost of revenue of $2.77B in Q1 2026.
- How has Oneok's natural gas liquids — cost of revenue changed year-over-year?
- Oneok's natural gas liquids — cost of revenue decreased by 19.9% year-over-year, from $3.46B to $2.77B.
- What is the long-term trend for Oneok's natural gas liquids — cost of revenue?
- Over 4 years (2021 to 2025), Oneok's natural gas liquids — cost of revenue has grown at a 1.2% compound annual growth rate (CAGR), from $11.94B to $12.53B.
- What does natural gas liquids — cost of revenue mean?
- The direct costs incurred to produce or purchase the natural gas liquids sold by the segment.