Oneok OKE Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues (Note J) by Business | ||||||
| Natural Gas Gathering and Processing | $7.48B-2.6% | $7.68B-0.4% | $7.71B+13.8% | $6.78B+17.3% | $5.78B+25.9% | |
| Natural Gas Liquids | $15.39B-3.9% | $16.01B-3.3% | $16.56B+1.3% | $16.34B+2.1% | $16B+5.5% | |
| Natural Gas Pipelines | $2.01B+8.8% | $1.85B+13.8% | $1.62B+20.8% | $1.34B+22.0% | $1.1B+33.9% | |
| Refined Products and Crude Oil | $15.29B+17.2% | $13.04B+22.5% | $10.64B+33.4% | $7.98B+31.1% | $6.08B+36.4% | |
| Cost of Revenue by Business | ||||||
| Natural Gas Gathering and Processing | $4.45B-3.5% | $4.62B-1.7% | $4.7B+13.9% | $4.12B+19.1% | $3.46B+33.2% | |
| Natural Gas Liquids | $11.84B-5.5% | $12.53B-4.4% | $13.11B+0.5% | $13.04B+2.2% | $12.75B+6.3% | |
| Natural Gas Pipelines | $1.05B+4.9% | $1.01B+21.2% | $829M+44.2% | $575M+60.6% | $358M+220% | |
| Refined Products and Crude Oil | $12.39B+21.8% | $10.17B+30.1% | $7.82B+47.6% | $5.29B+51.3% | $3.5B+79.5% | |
| Segment adjusted EBITDA by Business | ||||||
| Natural Gas Gathering and Processing | $2.11B-1.1% | $2.14B+2.5% | $2.09B+13.5% | $1.84B+10.1% | $1.67B+12.5% | |
| Natural Gas Liquids | $2.85B+2.6% | $2.78B+1.0% | $2.75B+4.7% | $2.63B+1.5% | $2.59B+1.8% | |
| Natural Gas Pipelines | $988M+14.8% | $861M-15.3% | $1.02B+3.5% | $983M+3.8% | $947M+5.2% | |
| Refined Products and Crude Oil | $2.2B+1.0% | $2.18B-1.6% | $2.21B+6.8% | $2.07B+4.5% | $1.98B+4.8% | |
| Noncash compensation expense and other by Business | ||||||
| Natural Gas Gathering and Processing | $56M+3.7% | $54M+125% | $24M0.0% | $24M+20.0% | $20M0.0% | |
| Natural Gas Liquids | $35M+9.4% | $32M-3.0% | $33M-5.7% | $35M+20.7% | $29M-21.6% | |
| Natural Gas Pipelines | $12M+71.4% | $7M+16.7% | $6M-25.0% | $8M+14.3% | $7M-12.5% | |
| Refined Products and Crude Oil | $67M+36.7% | $49M+8.9% | $45M+32.4% | $34M0.0% | $34M+41.7% | |
| Adjusted EBITDA from unconsolidated affiliates by Business | ||||||
| Natural Gas Gathering and Processing | $4M-20.0% | $5M+25.0% | $4M+33.3% | $3M0.0% | $3M0.0% | |
| Natural Gas Liquids | $100M-1.0% | $101M0.0% | $101M0.0% | $101M-4.7% | $106M+11.6% | |
| Natural Gas Pipelines | $261M+7.0% | $244M+4.7% | $233M+8.4% | $215M+7.0% | $201M+7.5% | |
| Refined Products and Crude Oil | $142M-14.5% | $166M-34.1% | $252M-0.4% | $253M-2.7% | $260M+5.3% | |
| Equity in net earnings from investments by Business | ||||||
| Natural Gas Gathering and Processing | $1M-66.7% | $3M+50.0% | $2M— | $0— | $0— | |
| Natural Gas Liquids | $88M-3.3% | $91M0.0% | $91M0.0% | $91M-6.2% | $97M+14.1% | |
| Natural Gas Pipelines | $189M+11.2% | $170M+8.3% | $157M+3.3% | $152M+4.1% | $146M+2.1% | |
| Refined Products and Crude Oil | $89M-27.0% | $122M-43.0% | $214M-3.2% | $221M-3.1% | $228M+8.1% | |
| D&A by Business | ||||||
| Natural Gas Gathering and Processing | $510M+1.8% | $501M+3.5% | $484M+12.8% | $429M+12.6% | $381M+17.2% | |
| Natural Gas Liquids | $462M-1.3% | $468M+5.9% | $442M+6.5% | $415M+6.7% | $389M+7.8% | |
| Natural Gas Pipelines | $100M+2.0% | $98M-5.8% | $104M+4.0% | $100M+7.5% | $93M+5.7% | |
| Refined Products and Crude Oil | $431M-1.6% | $438M+1.9% | $430M+3.6% | $415M+6.4% | $390M+10.2% | |
| CapEx by Business | ||||||
| Natural Gas Gathering and Processing | $1.39B+5.8% | $1.31B+24.3% | $1.06B+23.3% | $857M+38.9% | $617M+25.4% | |
| Natural Gas Liquids | $897M+18.3% | $758M+4.4% | $726M-3.8% | $755M-16.6% | $905M-8.3% | |
| Natural Gas Pipelines | $221M-6.8% | $237M-1.3% | $240M-0.4% | $241M0.0% | $241M-6.6% | |
| Refined Products and Crude Oil | $791M+5.2% | $752M+18.4% | $635M+36.3% | $466M+47.9% | $315M+45.8% | |
| Investments in unconsolidated affiliates by Business | ||||||
| Natural Gas Gathering and Processing | $159M+1.9% | $156M+4.7% | $149M+6.4% | $140M+6.9% | $131M+10.1% | |
| Natural Gas Liquids | $2.52B+8.4% | $2.32B+7.8% | $2.16B+9.1% | $1.98B+7.2% | $1.84B+6.3% | |
| Natural Gas Pipelines | $3.67B+6.6% | $3.44B+5.0% | $3.28B+11.7% | $2.93B+12.5% | $2.61B+12.5% | |
| Refined Products and Crude Oil | $4.73B+3.4% | $4.57B+5.3% | $4.34B+7.8% | $4.03B+1.1% | $3.99B+1.3% | |
| Direct Operating Costs by Business | ||||||
| Natural Gas Gathering and Processing | $976M-1.2% | $988M+1.3% | $975M+13.4% | $860M+15.7% | $743M+23.2% | |
| Natural Gas Liquids | $829M-0.2% | $831M-0.1% | $832M+2.3% | $813M+2.8% | $791M+3.8% | |
| Natural Gas Pipelines | $239M+3.5% | $231M-4.9% | $243M+3.0% | $236M+1.7% | $232M-0.4% | |
| Refined Products and Crude Oil | $910M+0.4% | $906M-0.4% | $910M+1.6% | $896M+0.1% | $895M+0.8% | |
| Total revenues (Note J) by Product | ||||||
| Exchange services and natural gas gathering and processing revenue | $1.45B+4.0% | $1.39B+9.8% | $1.27B+20.9% | $1.05B+22.5% | $857M+12.8% | |
| Liquids commodity sales | $31.8B+4.6% | $30.41B+6.0% | $28.69B+12.9% | $25.42B+11.8% | $22.74B+15.2% | |
| Other revenue | $170M+2.4% | $166M-2.9% | $171M+1.8% | $168M+5.7% | $159M+0.6% | |
| Residue natural gas sales | $3.52B+4.4% | $3.37B+9.9% | $3.07B+21.6% | $2.52B+27.0% | $1.99B+48.2% | |
| Transportation and storage revenue | $3.23B-0.4% | $3.24B-0.6% | $3.26B+1.0% | $3.23B+1.3% | $3.19B+4.7% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Oneok break its business down?
- Oneok (OKE) reports total revenues (note j) by business across 4 parts — Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines and Refined Products and Crude Oil. Each is extracted from the segment footnotes and tracked over time.
- Where does Oneok's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Oneok's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
