OKE
Oneok
$87.67
▼ 0.3%Updated Aug 7, 11:30 AM ET
OKE at a glance — five pillars scored 0–100 from real filed financials.
Overall: Neutral · 42/100. A wider, greener shape means more pillars look healthy. Dividends scores 0 when a company pays none — that is a choice, not a flaw.
▲ Up 4.8% over the last 12 months
Market Cap
$55.34B
P/E
15.52x
Forward P/E (est.)
14.19x
ROE
15.9%
Revenue Growth
-14.7%
EPS Growth
9.3%
Profit Margin
2.9%
FCF Yield
8.0%
Debt / Equity
1.46x
ROIC
8.0%
Interest Coverage
6.63x
Current Ratio
0.71x
Dividend Yield
4.9%
Implied Growth (rev. DCF)
4.4%
Rating Score
42/100
Oneok (OKE) is a large-cap company in the Oil & Gas Storage & Transportation industry, part of the Energy sector of the S&P 500, with a market value around $55.34B.
In its latest reported year it generated about $33.63B in revenue and $3.39B in net profit.
Our model rates OKE Neutral (42/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
Evidence of durable competitive advantage in the filed financials (5 years of history).
Some durable-advantage evidence, but not across the board — dig into which ingredient is weak and whether it's cyclical or structural.
21.0% average over the last 3 years
±4.1 pts around 18.3% across 5 years
grew in 3 of the last 4 year-over-year periods
positive in 5 of 5 years
8.0% latest fiscal year
A moat can't be proven by numbers alone — this scores the evidence a durable advantage leaves behind (pricing power, consistency, returns on capital), computed the same way for every stock. Pair it with the business overview before concluding anything.
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what OKE's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. OKE trades near $87.67, around its 50-day average ($88.59) and 200-day average ($79.97). Price tangled in its moving averages means there is no clear trend — the stock is ranging.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 46 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. OKE's is $2.37 (~2.7% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month OKE found buyers near $83.08 (support) and sellers near $92.14 (resistance); its 52-week range is $64.02–$96.07. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 0.8× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
4Y CAGR
19.4%
Revenue moved from $16.54B in 2021 to $33.63B in 2025, a 19.4% compound annual growth rate. The most recent year declined 14.7% year over year. Shrinking revenue is worth a closer look — is it cyclical or structural?
Gross Margin
—
Operating Margin
17.1%
Net Margin
10.1%
ROE
15.9%
Oneok keeps about 2.9% of each sales dollar as net profit. Return on equity is 15.9% and return on invested capital about 8.0%. Thin margins leave less cushion if costs rise.
Total Debt
$32.00B
Net Debt
$31.83B
Net Debt / EBITDA
5.54x
Debt / Equity
1.46x
Leverage: debt-to-equity is 1.5x, and operating profit covers interest about 6.6x, with a current ratio of 0.7x. That is a moderate, manageable debt load for most businesses. It carries roughly $32.00B of total debt against $172.00M of cash.
Operating CF
$5.60B
Free Cash Flow
$2.45B
FCF Margin
7.3%
In the latest year Oneok produced about $5.60B of operating cash flow and $2.45B of free cash flow after capital spending. That is a free-cash-flow yield of about 8.0% on today's price. Strong cash generation funds dividends, buybacks, and reinvestment.
Can the payout survive a bad year? Scored from filed cash flow, earnings coverage, and the raise/cut record.
Coverage is weak, the payout was cut recently, or it's being financed rather than earned — treat the current yield as fragile.
Dividend yield
4.9%
Per share (latest FY)
$4.12
Total paid (latest FY)
$2.58B
History on record
5 years
dividend uses 106% of free cash flow
76% of net income paid out
total dividends increased 4 years in a row
no cuts in the last 5 years on record
Coverage uses the latest fiscal year as filed with the SEC; the streak counts total dollars paid (per-share figures can carry split artifacts). Educational information, not income advice.
P/E
15.52x
P/S
3.64x
P/B
2.09x
EV / EBITDA
—
OKE trades at 15.5x trailing earnings (about 14.2x on estimated forward earnings), 3.6x sales, and 2.1x book value. Reverse-engineering today's price implies the market expects roughly 4.4% long-term free-cash-flow growth. That is a fairly typical valuation for a profitable company.
A two-stage discounted cash flow on real SEC-filed free cash flow — the intrinsic-value anchor professional analysts triangulate from.
DCF fair value / share
$39.86
Current price
$87.67
Starting FCF (latest 10-K)
$2.45B
Growth, years 1–5
-5.0%
Fade to terminal, years 6–10
2.5%
Discount rate
9.0%
Cash flows grow at the stage-1 rate (trailing revenue growth, capped at 20%) for five years, fade to 2.5% by year 10, and continue at that rate forever (Gordon terminal value), all discounted at 9.0%. Small changes in assumptions move the result a lot — treat this as one reference point, not a target price. Educational only, not investment advice.
Where OKE sits versus its Energy sector peers in the S&P 500.
Bands show the middle half (25th–75th percentile) of the 47 Energy companies in the S&P 500 — the peer-relative anchor professional comps analysis uses. Context only — not investment advice.
How OKE stacks up against its Energy peers — valuation, profitability, and growth versus the sector median.
In the Energy sector (57 S&P 500 companies), OKE ranks #41 of 57 by our overall rating. It trades at a discount versus the sector on earnings (15.5x P/E vs. 19.4x median) with a higher return on equity (15.9% vs. 13.3%) and slower revenue growth (-14.7% vs. 0.7%).
P/E vs sector
15.5x
median 19.4x
ROE vs sector
15.9%
median 13.3%
Growth vs sector
-14.7%
median 0.7%
Sector rank
#41
of 57 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Energy companies by sub-industry and size. Sector median is across all 57 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$0.00 – $0.00
vs. $87.67 today · expected CAGR -7% – 2%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $34.64B | $35.68B | $36.75B | $37.85B | $38.99B |
| Net income | $3.46B | $3.57B | $3.67B | $3.78B | $3.90B |
| EPS | $5.49 | $5.65 | $5.82 | $6.00 | $6.18 |
| Share price (low) | $54.88 | $56.52 | $58.22 | $59.97 | $61.77 |
| Share price (high) | $87.80 | $90.44 | $93.15 | $95.95 | $98.82 |
| CAGR (low–high) | -37% / 0% | -20% / 2% | -13% / 2% | -9% / 2% | -7% / 2% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for OKE:
- Strong return on equity (15.9%) shows capital is put to work well.
- Healthy free-cash-flow yield (~8.0%) funds buybacks and dividends.
- Pays a 4.9% dividend on top of any price gains.
The case against OKE:
- Revenue growth is slow/negative (-14.7%), limiting the upside engine.
- Thin net margins (2.9%) leave little room for error.
Balance-sheet risk — debt/equity of 1.5x magnifies the impact of higher rates or weaker earnings.
Growth risk — sluggish revenue (-14.7%) leaves little margin for execution missteps.
Margin risk — thin profitability (2.9%) is vulnerable to cost or pricing pressure.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: Oneok is a large-cap energy business with shrinking revenue, with modest profitability, and a heavier debt load to watch. It trades at 15.5x earnings, which our model scores Neutral (42/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Analyst Ratings
What 29 Wall Street analysts covering OKE recommend (August 2026). Consensus is a useful sanity check — not a substitute for your own homework.
Analysts have turned more cautious over the last three months (-10 pts of buy ratings).
Latest SEC Filings
OKE's most recent filings, straight from SEC EDGAR. Annual and quarterly reports are the deep dives; 8-Ks flag material events the moment they happen.
OKE — frequently asked questions
Is OKE a good stock to buy?
We don't give buy or sell advice. Our model rates Oneok Neutral (42/100) based on its growth, profitability, financial health, and valuation — use that as a research starting point and make your own decision.
What is OKE's rating on The Stocks School?
Oneok currently scores 42/100 (Neutral) on our transparent model, which weighs real fundamentals: growth, margins, returns on capital, balance-sheet strength, and valuation.
How our ratings work →Where does OKE's data come from?
Live price data plus real fundamentals and 5-year financials pulled directly from Oneok's SEC filings — refreshed automatically, not hand-entered.
How is the 5-year projection for OKE calculated?
It's a scenario model: it grows revenue at an assumed rate, applies a profit margin and a valuation multiple, and shows the resulting share-price range. The assumptions are yours to change — it's a tool for thinking, not a prediction.
Is this OKE analysis financial advice?
No. Everything on this page is educational research, not financial advice or a recommendation to buy or sell OKE. Always do your own research and consider a licensed professional.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.