OKE vs SWX
Oneok Inc. and Southwest Gas Holdings, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | OKE | SWX |
|---|---|---|
| Revenue | $33.6B | $1.9B |
| Net income | $3.4B | $439.8M |
| Gross margin | 30.5% | · |
| Net margin | 10.3% | 22.4% |
| Return on equity | 17.2% | 11.8% |
| Diluted EPS | $5.42 | $6.08 |
| Dividend / share | $4.12 | $2.48 |
| Payout ratio | 76.1% | 40.6% |
| Free cash flow | $2.4B | $-251.8M |
| Equity | $22.5B | $4.0B |
| Net debt / equity | 1.42× | 0.74× |
| Current ratio | 0.71× | 1.28× |
| Revenue CAGR 5y | 31.5% | −10.1% |
| Profit CAGR 5y | · | 13.6% |
OKE bills 17.3× the revenue of SWX, and SWX keeps more of each dollar of revenue as profit (22.4% against 10.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | OKE | SWX |
|---|---|---|
| FY2025 | $33.6B | $1.9B |
| FY2024 | $21.7B | $2.5B |
| FY2023 | $17.7B | $2.5B |
| FY2022 | $22.4B | $5.0B |
| FY2021 | $16.5B | $3.7B |
| FY2020 | $8.5B | $3.3B |
| FY2019 | $10.2B | $3.1B |
| FY2018 | $12.6B | $2.9B |
| FY2017 | $12.2B | $2.5B |
| FY2016 | $8.9B | $2.5B |
Bottom line
| Fiscal year | OKE | SWX |
|---|---|---|
| FY2025 | $3.4B | $439.8M |
| FY2024 | $3.0B | $198.8M |
| FY2023 | $2.7B | $150.9M |
| FY2022 | $1.7B | $-203.3M |
| FY2021 | $1.5B | $200.8M |
| FY2020 | $612.8M | $232.3M |
| FY2019 | $1.3B | $213.9M |
| FY2018 | $1.2B | $182.3M |
| FY2017 | $387.8M | $193.8M |
| FY2016 | $352.0M | $152.0M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$31,688,620,000 | OKE |
| FY2024 | +$19,222,784,000 | OKE |
| FY2023 | +$15,142,304,000 | OKE |
| FY2022 | +$17,426,991,000 | OKE |
| FY2021 | +$12,859,549,000 | OKE |
| FY2020 | +$5,243,369,000 | OKE |
| FY2019 | +$7,044,450,000 | OKE |
| FY2018 | +$9,713,183,000 | OKE |
| FY2017 | +$9,625,115,000 | OKE |
| FY2016 | +$6,460,444,000 | OKE |
| FY2015 | +$5,403,697,000 | OKE |
OKE has reported the higher revenue in every one of these 11 fiscal years. The gap has widened since the earliest year compared.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −12.1 pp | SWX |
| FY2024 | +6.1 pp | OKE |
| FY2023 | +8.9 pp | OKE |
| FY2022 | +11.7 pp | OKE |
| FY2021 | +3.4 pp | OKE |
| FY2020 | −0.1 pp | SWX |
| FY2019 | +5.6 pp | OKE |
| FY2018 | +2.9 pp | OKE |
| FY2017 | −2.7 pp | SWX |
| FY2016 | +2.1 pp | OKE |
| FY2015 | −1.0 pp | SWX |
The higher net margin has changed hands between OKE and SWX over this period.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SWX's net margin has been more volatile than OKE's over the 11 comparable fiscal years — 5.8 percentage points of standard deviation against 3.3.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between OKE and SWX over these 11 fiscal years — OKE led in 7 and SWX in 4.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
OKE's return on equity has been more volatile than SWX's over the 10 comparable fiscal years — 35.4 percentage points of standard deviation against 5.1.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
OKE led in return on equity in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 18 comparable fiscal years — a year missing data on either side is not counted.