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OKE

ONEOK Inc

US$87.88+0.83% (US$0.72)
Day's range
US$86.03 – US$87.98
Day's volume
US$314m
52-week range
US$61.95 – US$97.51

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See how OKE weighs in your net worth, what it has paid you and how far it is from your target allocation.

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OKE in numbers

Market cap
US$55.4bn
P/E
15.15
P/B
2.42
Dividend yield (12m)
4.82%
Net debt/EBITDA
4.30

The 12-month dividend yield of OKE is 4.82%, below its 5-year average of 5.41%.

OKE price history

06/10/202502/10/2026
Compare with

OKE risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+25.28%+46.42%+89.69%
Volatility (annualised)21.22%24.76%26.98%
Largest drawdown-11.19%-38.87%-38.87%
Positive months10/1223/3637/60

How much did investing in OKE return?

US$1,000.00 invested on 01/11/2021 would be worth US$1,896.91 today.

Value today in OKE
US$1,896.91
Return over the period
+89.69%
Return per year
+13.91%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

OKE fundamentals

Valuation

  • P/E
    15.15
  • P/B
    2.42
  • EV/EBITDA
    11.55
  • EV/EBIT
    14.44
  • EV/Revenue
    2.24
  • P/EBIT
    9.07
  • P/S
    1.41
  • P/OCF
    9.00
  • P/FCF
    19.06
  • Earnings yield
    6.92%
  • PEG ratio
    —
  • Earnings per share
    US$5.80
  • Book value per share
    US$36.39

Debt

  • Net debt
    US$32.9bn
  • Net debt/EBITDA
    4.30
  • Net debt/Equity
    1.43
  • Debt/Equity
    1.44
  • Current ratio
    0.74
  • Quick ratio
    0.59
  • Cash ratio
    0.02

Efficiency

  • Gross margin
    27.21%
  • EBITDA margin
    19.41%
  • Operating margin
    15.52%
  • Net margin
    9.29%
  • Asset turnover
    0.57

Profitability

  • ROE
    15.94%
  • ROA
    5.33%
  • ROIC
    8.40%
  • Payout
    73.11%

Growth

  • Revenue CAGR (5 years)
    28.29%
  • Earnings CAGR (5 years)
    —
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is OKE's fair price?

Two classic value formulas, with today's numbers. The current price is US$87.88.

Graham's fair price
US$68.91
21.59% below the price

√(22.50 × US$5.80 × US$36.39)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$64.60
26.49% below the price

US$3.88 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

OKE indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E13.6420.6515.4017.06—27.8724.4619.28
P/B2.063.682.484.524.362.835.023.38
EV/EBITDA11.0115.3612.8612.4612.3415.8718.3913.95
Dividend yield5.61%3.94%5.44%5.69%6.36%9.74%4.66%6.01%
Earnings per shareUS$5.39US$4.86US$4.56US$3.85—US$1.38US$3.09US$2.80
Book value per shareUS$35.70US$27.29US$28.27US$14.52US$13.48US$13.58US$15.06US$15.98
ROE15.09%17.82%16.13%26.52%—10.14%20.54%17.50%
ROIC7.90%7.81%8.19%10.80%10.06%5.26%7.84%8.76%
Gross margin30.50%38.65%32.52%20.00%25.89%40.18%33.22%25.18%
EBITDA margin21.57%28.22%27.39%15.33%19.46%22.71%23.52%17.98%
Net margin10.09%13.99%15.04%7.69%—7.17%12.58%9.15%
Net debt/EBITDA4.635.124.413.904.197.075.314.14

OKE financial statements

Line202520242023202220212020
Net revenueUS$33.6bnUS$21.7bnUS$17.7bnUS$22.4bnUS$16.5bnUS$8.5bn
Cost of sales-US$23.4bn-US$13.3bn-US$11.9bn-US$17.9bn-US$12.3bn-US$5.1bn
Gross profitUS$10.3bnUS$8.4bnUS$5.7bnUS$4.5bnUS$4.3bnUS$3.4bn
EBITDAUS$7.3bnUS$6.1bnUS$4.8bnUS$3.4bnUS$3.2bnUS$1.9bn
EBITUS$5.7bnUS$5bnUS$4.1bnUS$2.8bnUS$2.6bnUS$1.4bn
Net finance result——————
Profit before taxUS$4.5bnUS$4.1bnUS$3.5bnUS$2.3bnUS$2bnUS$802.3m
Income tax-US$1bn-US$998m-US$838m-US$528m-US$484m-US$189.5m
Net incomeUS$3.4bnUS$3bnUS$2.7bnUS$1.7bn—US$612.8m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does OKE pay dividends?

Dividend yield per year

  • 5.09%2017
  • 6.01%2018
  • 4.66%2019
  • 9.74%2020
  • 6.36%2021
  • 5.69%2022
  • 5.44%2023
  • 3.94%2024
  • 5.61%2025
  • 3.65%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend31/07/202614/08/2026US$1.07
Dividend01/05/202615/05/2026US$1.07
Dividend30/01/202613/02/2026US$1.07
Dividend31/10/202514/11/2025US$1.03
Dividend31/07/202514/08/2025US$1.03
Dividend02/05/202515/05/2025US$1.03
Dividend31/01/202514/02/2025US$1.03
Dividend31/10/202414/11/2024US$0.99
Dividend31/07/202414/08/2024US$0.99
Dividend29/04/202415/05/2024US$0.99
Dividend26/01/202414/02/2024US$0.99
Dividend30/10/202314/11/2023US$0.96
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend28/07/202314/08/2023US$0.96
Dividend27/04/202315/05/2023US$0.96
Dividend26/01/202314/02/2023US$0.96
Dividend28/10/202214/11/2022US$0.94
Dividend28/07/202215/08/2022US$0.94
Dividend28/04/202216/05/2022US$0.94
Dividend27/01/202214/02/2022US$0.94
Dividend28/10/202115/11/2021US$0.94
Dividend29/07/202116/08/2021US$0.94
Dividend22/04/202114/05/2021US$0.94
Dividend28/01/202112/02/2021US$0.94
Dividend29/10/202013/11/2020US$0.94
Dividend30/07/202014/08/2020US$0.94
Dividend23/04/202014/05/2020US$0.94
Dividend23/01/202014/02/2020US$0.94
Dividend31/10/201914/11/2019US$0.92
Dividend02/08/201914/08/2019US$0.89
Dividend25/04/201915/05/2019US$0.87
Dividend24/01/201914/02/2019US$0.86
Dividend01/11/201814/11/2018US$0.86
Dividend02/08/201814/08/2018US$0.83
Dividend26/04/201815/05/2018US$0.80
Dividend25/01/201814/02/2018US$0.77
Dividend02/11/201714/11/2017US$0.75
Dividend02/08/201714/08/2017US$0.75
Dividend26/04/201715/05/2017US$0.62
Dividend25/01/201714/02/2017US$0.62
Dividend26/10/201614/11/2016US$0.62

About Oneok

Sector
Transportation and utilities

Questions about OKE

How much is OKE today?

OKE is at US$87.88 (0.83% on the day), last traded on 02/10/2026.

How much did OKE pay in dividends in 2025?

OKE paid US$4.12 per share in 2025, a dividend yield of 5.61%.

What are the P/E and P/B of OKE?

OKE trades at a P/E of 15.15 and a P/B of 2.42.

How much did OKE return in 12 months?

OKE returned 25.28% in 12 months, with annualised volatility of 21.22% and a largest drawdown of -11.19%.