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Oneok OKE Natural Gas Liquids — Equity in net earnings from investments

Other segment segments

Natural Gas Pipelines
$54M+31.7%
Refined Products and Crude Oil
$7M-82.5%
Natural Gas Gathering and Processing
$0-100%

Similar metrics at other companies

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MPLXNatural Gas & NGL Services — Equity Method Income
$120M-7.7%
Plains GP Holdings, L.P. logo
PAGPNGL — Equity earnings in unconsolidated entities
$0
California Resources logo
CRCNatural gas liquids — Other revenue
$5M-16.7%
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MPLXNatural Gas & NGL Services — Equity Method Investments
$3.4B+8.1%
SM Energy logo
SMNatural Gas Liquids (NGL) — Revenue from Contract with Customer, Including Assessed Tax
$91M+49.2%
Enterprise Products Partners logo
EPDNatural Gas Pipelines & Services — Equity in income of unconsolidated affiliates
$2M0.0%

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:IncomeLossFromEquityMethodInvestments.

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 — equity in net earnings from investments?
Oneok (OKE) reported natural gas liquids — equity in net earnings from investments of $24M in Q1 2026.
How has Oneok's natural gas liquids — equity in net earnings from investments changed year-over-year?
Oneok's natural gas liquids — equity in net earnings from investments decreased by 11.1% year-over-year, from $27M to $24M.
What is the long-term trend for Oneok's natural gas liquids — equity in net earnings from investments?
Over 4 years (2021 to 2025), Oneok's natural gas liquids — equity in net earnings from investments has grown at a 44.3% compound annual growth rate (CAGR), from $21M to $91M.
What does natural gas liquids — equity in net earnings from investments mean?
This metric captures the company's share of the net income generated by unconsolidated affiliates within the NGL segment. Unlike Adjusted EBITDA, this figure includes the impact of interest, taxes, and depreciation at the affiliate level. It represents the bottom-line contribution from these strategic partnerships.