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+29.6% | $7.68B+67.4% | $7.71B+104% | $6.78B+76.3% | $5.78B+51.7% | |
| Natural Gas Liquids | $15.39B-3.8% | $16.01B+5.6% | $16.56B+14.9% | $16.34B+13.8% | $16B+13.2% | |
| Natural Gas Pipelines | $2.01B+82.4% | $1.85B+125% | $1.62B+139% | $1.34B+105% | $1.1B+72.8% | |
| Refined Products and Crude Oil | $15.29B+151% | $13.04B+192% | $10.64B+179% | $7.98B+172% | $6.08B— | |
| Cost of Revenue by Business | ||||||
| Natural Gas Gathering and Processing | $4.45B+28.7% | $4.62B+77.6% | $4.7B+128% | $4.12B+94.6% | $3.46B+66.2% | |
| Natural Gas Liquids | $11.84B-7.1% | $12.53B+4.5% | $13.11B+15.5% | $13.04B+15.2% | $12.75B+13.9% | |
| Natural Gas Pipelines | $1.05B+194% | $1.01B+797% | $829M+2,759% | $575M+1,817% | $358M+1,134% | |
| Refined Products and Crude Oil | $12.39B+254% | $10.17B+422% | $7.82B+441% | $5.29B+375% | $3.5B— | |
| Segment adjusted EBITDA by Business | ||||||
| Natural Gas Gathering and Processing | $2.11B+26.7% | $2.14B+44.1% | $2.09B+58.3% | $1.84B+38.9% | $1.67B+31.9% | |
| Natural Gas Liquids | $2.85B+10.0% | $2.78B+9.3% | $2.75B+11.9% | $2.63B+7.2% | $2.59B+10.2% | |
| Natural Gas Pipelines | $988M+4.3% | $861M-4.3% | $1.02B+65.4% | $983M+68.0% | $947M+67.3% | |
| Refined Products and Crude Oil | $2.2B+10.9% | $2.18B+15.1% | $2.21B+29.2% | $2.07B+57.8% | $1.98B— | |
| Noncash compensation expense and other by Business | ||||||
| Natural Gas Gathering and Processing | $56M+180% | $54M+170% | $24M+9.1% | $24M+20.0% | $20M+11.1% | |
| Natural Gas Liquids | $35M+20.7% | $32M-13.5% | $33M-13.2% | $35M-2.8% | $29M-14.7% | |
| Natural Gas Pipelines | $12M+71.4% | $7M-12.5% | $6M— | $8M— | $7M— | |
| Refined Products and Crude Oil | $67M+97.1% | $49M+104% | $45M+95.7% | $34M+100% | $34M— | |
| Adjusted EBITDA from unconsolidated affiliates by Business | ||||||
| Natural Gas Gathering and Processing | $4M+33.3% | $5M+66.7% | $4M— | $3M— | $3M— | |
| Natural Gas Liquids | $100M-5.7% | $101M+6.3% | $101M+11.0% | $101M+20.2% | $106M+45.2% | |
| Natural Gas Pipelines | $261M+29.9% | $244M+30.5% | $233M+34.7% | $215M+28.0% | $201M+23.3% | |
| Refined Products and Crude Oil | $142M-45.4% | $166M-32.8% | $252M+69.1% | $253M+126% | $260M— | |
| Equity in net earnings from investments by Business | ||||||
| Natural Gas Gathering and Processing | $1M— | $3M— | $2M+200% | $0+100% | $0— | |
| Natural Gas Liquids | $88M-9.3% | $91M+7.1% | $91M+11.0% | $91M+21.3% | $97M+51.6% | |
| Natural Gas Pipelines | $189M+29.5% | $170M+18.9% | $157M+19.8% | $152M+20.6% | $146M+18.7% | |
| Refined Products and Crude Oil | $89M-61.0% | $122M-42.2% | $214M+86.1% | $221M+166% | $228M— | |
| D&A by Business | ||||||
| Natural Gas Gathering and Processing | $510M+33.9% | $501M+54.2% | $484M+69.8% | $429M+52.1% | $381M+38.5% | |
| Natural Gas Liquids | $462M+18.8% | $468M+29.6% | $442M+27.7% | $415M+21.3% | $389M+14.1% | |
| Natural Gas Pipelines | $100M+7.5% | $98M+11.4% | $104M+40.5% | $100M+42.9% | $93M+36.8% | |
| Refined Products and Crude Oil | $431M+10.5% | $438M+23.7% | $430M+26.5% | $415M+64.0% | $390M— | |
| CapEx by Business | ||||||
| Natural Gas Gathering and Processing | $1.39B+125% | $1.31B+167% | $1.06B+130% | $857M+77.4% | $617M+32.4% | |
| Natural Gas Liquids | $897M-0.9% | $758M-23.2% | $726M-34.5% | $755M-28.1% | $905M-3.1% | |
| Natural Gas Pipelines | $221M-8.3% | $237M-8.1% | $240M-7.7% | $241M-12.0% | $241M-7.7% | |
| Refined Products and Crude Oil | $791M+151% | $752M+248% | $635M+271% | $466M+267% | $315M— | |
| Investments in unconsolidated affiliates by Business | ||||||
| Natural Gas Gathering and Processing | $159M+21.4% | $156M+31.1% | $149M+35.5% | $140M+33.3% | $131M+28.4% | |
| Natural Gas Liquids | $2.52B+36.6% | $2.32B+34.0% | $2.16B+29.2% | $1.98B+18.4% | $1.84B+10.8% | |
| Natural Gas Pipelines | $3.67B+40.6% | $3.44B+48.4% | $3.28B+57.4% | $2.93B— | $2.61B— | |
| Refined Products and Crude Oil | $4.73B+18.7% | $4.57B+16.3% | $4.34B+14.1% | $4.03B+7.2% | $3.99B— | |
| Direct Operating Costs by Business | ||||||
| Natural Gas Gathering and Processing | $976M+31.4% | $988M+63.8% | $975M+97.8% | $860M+78.1% | $743M+55.1% | |
| Natural Gas Liquids | $829M+4.8% | $831M+9.1% | $832M+14.0% | $813M+13.7% | $791M+13.8% | |
| Natural Gas Pipelines | $239M+3.0% | $231M-0.9% | $243M+13.6% | $236M+10.8% | $232M+10.5% | |
| Refined Products and Crude Oil | $910M+1.7% | $906M+2.0% | $910M+9.0% | $896M+42.0% | $895M— | |
| Total revenues (Note J) by Product | ||||||
| Exchange services and natural gas gathering and processing revenue | $1.45B+69.1% | $1.39B+83.3% | $1.27B— | $1.05B— | $857M— | |
| Liquids commodity sales | $31.8B+39.9% | $30.41B+54.1% | $28.69B+64.6% | $25.42B+49.2% | $22.74B+36.0% | |
| Other revenue | $170M+6.9% | $166M+5.1% | $171M— | $168M— | $159M— | |
| Residue natural gas sales | $3.52B+77.2% | $3.37B+152% | $3.07B+178% | $2.52B+116% | $1.99B+63.3% | |
| Transportation and storage revenue | $3.23B+1.3% | $3.24B+6.5% | $3.26B+13.8% | $3.23B+39.7% | $3.19B+77.3% |
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.
