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Oneok OKE Return on invested capital

Return on invested capital at other companies

EOG Resources logo
EOG ResourcesEOG
17.6%-4.0pp
Devon Energy logo
Devon EnergyDVN
9.6%-3.9pp
Atmos Energy logo
Atmos EnergyATO
6.1%+0.1pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
11.8%-0.3pp
Williams Companies logo
Williams CompaniesWMB
7%-2.5pp
Permian Resources logo
Permian ResourcesPR
8.2%-3.8pp

Other financials

Income statement

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Revenue$9.6B+19.6%
Gross profit$2.6B+7.4%
Operating income$1.4B+17.1%
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+4.7%
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-74.6%

Valuation

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Market cap$53.92B-8.1%
Enterprise value$86.16B-2.9%
P/E15.3×-4.1×
P/S1.5×-0.8×

Profitability

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Gross margin29.6%-6.0pp
Operating margin16.9%-3.7pp
Net margin10%-2.1pp

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

Calculated from Oneok’s reported figures.

Based on trailing twelve months.

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 return on invested capital?
Oneok (OKE) reported return on invested capital of 8.6% in Q1 2026.
How has Oneok's return on invested capital changed year-over-year?
Oneok's return on invested capital decreased by 2.8% year-over-year, from 8.9% to 8.6%.
What is the long-term trend for Oneok's return on invested capital?
Over 4 years (2021 to 2025), Oneok's return on invested capital has grown at a -0.9% compound annual growth rate (CAGR), from 36.8% to 35.6%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.