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MARKETS / NYSE / Utilities / Gas distribution / OKE
NYSE · NATURAL GAS TRANSMISISON & DISTRIBUTION · LARGE CAP

Oneok Inc. OKE

19 fiscal years on record · USD · FY2025 reported · SEC filings only
3 YEARS OF DIVIDEND GROWTH
$33.6B
▲ 55.0% YoY
$3.4B
▲ 11.8% YoY
$2.4B
▼ 14.6% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

ONEOK provides midstream gathering, processing, fractionation, transportation, storage and marine export services. Through an approximately 60,000-mile pipeline network it transports natural gas, NGLs, Refined Products and crude oil. The company reports operations in four business segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude. The company is incorporated under the laws of the state of Oklahoma.

Written from the business description in ONEOK INC /NEW/'s annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth

USD 33.6B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 33.6 · Net income 3.4
15B30B
2007201020132016201920222025
Compound annual growth
+14.5%
+31.5%
+15.8%
+6.7%
+25.4%
+30.1%
+16.7%
+12.2%
+30.7%
+3.3%
+2.0%
+16.7%
+10.6%
+18.0%
+19.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +31.5% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

10 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 17.1% · Net 10.3%
10%20%
200720162025
ROE
FY2025 · ROE 17.2%
50%100%
200720162025
Three returns, three denominators.
Gross margin30.5%
Operating margin17.1%
Net margin10.3%
EBITDAUSD 7.3B

Each USD of equity produced 17 cents of profit this year.

Cash & shareholders

USD 2.7B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 2.4
2B3B-1B-2B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 2.6 · Net buybacks 0.1
1B2BDividendsNet buybacks
2007201020132016201920222025
Dividends paidUSD 2.6B
Net buybacksUSD 75.0M
Share of profit78.3%
Consecutive raises3 years

USD 2.6B in dividends and USD 75.0M in buybacks — 78% of the year's profit went back to shareholders.

Total assetsUSD 66.6B
EquityUSD 22.5B
CashUSD 78.0M
Gross debtUSD 32.0B
Net debtUSD 31.9B
Current ratio0.71×

Net debt stands at 142% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
OKE, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B33.621.717.722.416.58.510.212.612.28.97.812.211.910.214.812.710.816.213.5
Operating income $B5.75.04.12.82.61.41.91.81.41.31.01.10.91.01.20.90.90.90.8
EBITDA $B7.36.14.83.43.21.92.42.31.81.71.41.41.11.21.51.21.21.21.1
Income tax $B1.01.00.80.50.50.20.40.40.40.20.10.20.20.20.20.20.20.20.2
Net income $B3.43.02.71.71.50.61.31.20.40.40.20.30.30.40.40.30.30.30.3
Free cash flow $B2.42.92.81.71.8−0.3−1.90.00.80.7−0.2−0.5−1.0−0.90.00.30.7−1.00.1
EPS, diluted $5.425.175.483.843.351.423.072.781.291.661.161.491.271.711.681.552.872.952.79
Dividend / sh $4.123.963.823.743.743.743.533.252.722.462.432.121.481.271.080.911.641.561.40
Payout %76766997◌262114116214147208141114736358575249
ROE %17.218.123.127.5◌10.020.019.013.6134.252.821.411.916.515.414.414.214.9◌
Shares out B0.630.580.580.450.450.440.410.410.390.210.210.210.210.200.100.110.110.10◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Oneok Inc.vsBrookfield Infrastructure Corp.Same industry: Natural Gas Transmisison & DistributionOneok Inc.vsCenturi Holdings, Inc.Same industry: Natural Gas Transmisison & DistributionOneok Inc.vsSouthwest Gas Holdings, Inc.Same industry: Natural Gas Transmisison & DistributionOneok Inc.vsChesapeake Utilities Corp.Same industry: Natural Gas Transmisison & DistributionOneok Inc.vsRGC Resources Inc.Same industry: Natural Gas Transmisison & Distribution
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Provenance

Company facts, as filed

How we verify · 0 failures in 82 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityNatural Gas Transmisison & Distribution
Listed onNYSE
Incorporated inOklahoma
Fiscal year endsDecember 31
Data on record since2007

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