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ONEOK USD

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Sector: NGL & midstream

COMM_OKE

Price chart

86.31 USDDay -1.30%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
86.31 USD · -1.30%
Market cap
54.4 bn USD

Growth

Δ revenue y/y
19.6%
Δ EBITDA y/y
12.9%

Multiples

P/E (LTM)
15.4x
3y avg: 17.0x
P/B (FY)
2.4x
P/E (ann.)
17.6x
EV/EBITDA (LTM)
11.8x
3y avg: 13.3x
EV/EBITDA (ann.)
12.2x

Cash return

Dividend yield
4.9%
FCF yield (LTM)
1.9%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
-6.2%
↓ details

Liquidity

Daily turnover (listing)
320.4 mln USD

Shares: yahoo_fundamentals_timeseries/OKE

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 11 / Err: 2 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 3
2023-06-30 Q2✗Errors 1Warn 1
2023-09-30 Q3⚠Warn 1
2023-12-31 FY⚠Warn 1
2024-03-31 Q1✗Errors 1Warn 1
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 1
2024-12-31 FY⚠Warn 1
2025-03-31 Q1⚠Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 1
2026-03-31 Q1⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK9.6
y/y 19.6%
1.4
y/y 17.0%
0.4
y/y -0.5%
1.8
y/y 12.9%
0.8
y/y 21.7%
0.9-0.968.2
y/y 6.1%
22.4
y/y 4.6%
13.8%33.5Link
2025-12-31Q4 2025 (3M)OK9.1
y/y 29.5%
1.5
y/y -2.3%
0.4
y/y 12.8%
1.9
y/y 0.4%
1.0
y/y 5.9%
1.5-1.066.6
y/y 4.0%
22.5
y/y 32.0%
15.2%32.8Link
2025-09-30Q3 2025 (3M)OK8.6
y/y 71.9%
1.6
y/y 38.1%
0.4
y/y 38.0%
1.9
y/y 38.1%
0.9
y/y 35.5%
1.6-0.866.6
y/y 30.5%
22.1
y/y 30.8%
5.7%32.5Link
2025-06-30Q2 2025 (3M)OK7.9
y/y 61.2%
1.4
y/y 16.4%
0.4
y/y 40.5%
1.8
y/y 20.7%
0.8
y/y 7.8%
1.5-0.764.5
y/y 44.9%
21.8
y/y 30.6%
15.6%32.4Link
2025-03-31Q1 2025 (3M)OK8.0
y/y 68.2%
1.2
y/y 14.7%
0.4
y/y 49.6%
1.6
y/y 21.4%
0.6
y/y -0.5%
0.9-0.664.3
y/y 44.8%
21.4
y/y 29.9%
13.2%31.9Link
2024-12-31Q4 2024 (3M)OK7.0
y/y 33.7%
1.6
y/y 42.7%
0.3
y/y 32.3%
1.9
y/y 40.7%
0.9
y/y 34.2%
1.6-0.664.1
y/y 44.7%
17.0
y/y 3.3%
17.9%31.4Link
2024-09-30Q3 2024 (3M)OK5.0
y/y 19.9%
1.1
y/y 52.6%
0.3
y/y 54.8%
1.4
y/y 53.1%
0.7
y/y 52.6%
1.3-0.551.0
y/y 16.2%
16.9
y/y 3.6%
5.5%27.6Link
2024-06-30Q2 2024 (3M)OK4.9
y/y 31.1%
1.2
y/y 66.8%
0.3
y/y 54.1%
1.5
y/y 64.4%
0.8
y/y 66.7%
1.4-0.544.5
y/y 85.3%
16.7
y/y 131.5%
18.8%21.8Link
2024-03-31Q1 2024 (3M)OK4.8
y/y 5.8%
1.1
y/y -28.9%
0.3
y/y 56.8%
1.3
y/y -20.6%
0.6
y/y -39.1%
0.6-0.544.4
y/y 81.5%
16.4
y/y 130.6%
15.5%21.9Link
2023-12-31Q4 2023 (3M)OK5.2
y/y —
1.1
y/y —
0.3
y/y —
1.4
y/y —
0.7
y/y —
1.5-0.644.3
y/y —
16.5
y/y —
16.2%21.4Link
2023-09-30Q3 2023 (3M)OK4.2
y/y —
0.7
y/y —
0.2
y/y —
0.9
y/y —
0.5
y/y —
0.9-0.443.9
y/y —
16.3
y/y —
5.1%21.7Link
2023-06-30Q2 2023 (3M)OK3.7
y/y —
0.7
y/y —
0.2
y/y —
0.9
y/y —
0.5
y/y —
0.8-0.324.0
y/y —
7.2
y/y —
26.1%12.6Link
2023-03-31Q1 2023 (3M)OK4.5
y/y —
1.5
y/y —
0.2
y/y —
1.7
y/y —
1.0
y/y —
1.2-0.324.5
y/y —
7.1
y/y —
—12.6Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02 0004 0006 0008 00010 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-25%0%25%50%75%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-4 000-3 000-2 000-1 00001 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

010 00020 00030 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Propane (NGL)

Current 1spot vs LTM +3%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -6.2%

Main driver: Propane (NGL) +15% vs LTM; revenue ×1.03 vs costs ×1.04; EBITDA 7 461→7 038; at 12.0× EV/EBITDA → -6%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Propane (NGL) (rev)+22%0.800.690.77+15%+10%
Henry Hub Gas (rev)+8%3.243.533.10-8%-12%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue35 204
LTM EBITDA7 461
LTM cash costs (revenue − EBITDA)27 743
2 · Revenue projection
Revenue multiplier — spot×1.026 (+3%)
= Spot revenue36 120
Revenue multiplier — 3y price×1.013 (+1%)
= 3-year-price revenue35 661
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs28 853
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs28 853
4 · EBITDA projection (revenue − costs)
= Spot EBITDA7 267
= 3-year-price EBITDA6 809
Conservative EBITDA = min(spot, avg)7 038
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)12.0x
Target EV = EV/EBITDA × conservative EBITDA84 457
Net debt33 480
Target market cap = EV − net debt50 977
Current market cap54 350

Upside = target market cap ÷ current − 1 = -6.2%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q23 7324 746-21.4%907342+165.0%
2023 Q34 1894 388-4.5%916579+58.3%
2023 Q45 2354 213+24.3%1 359861+57.9%
2024 Q14 7814 498+6.3%1 3181 208+9.1%
2024 Q24 8944 473+9.4%1 4911 029+44.9%
2024 Q35 0234 726+6.3%1 4021 134+23.6%
2024 Q47 0005 137+36.3%1 9121 457+31.3%
2025 Q18 0435 873+36.9%1 6001 882-15.0%
2025 Q27 8876 388+23.5%1 7991 633+10.2%
2025 Q38 6346 767+27.6%1 9361 324+46.2%
2025 Q49 0657 688+17.9%1 9201 456+31.8%
2026 Q19 6188 102+18.7%1 8061 343+34.4%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +55% vs +23% the year before — a +32.2 pp move. 3-year CAGR +15%.
revenue growth by year: 2023 -21% · 2024 +23% · 2025 +55%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 10.5x · target 75th pct (3y) 22.7x · LTM avg 15.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-041.07 USDEx-dividend: 1.07 USD per sharePaidYahoo Finance (ex-div)
2026-02-021.07 USDEx-dividend: 1.07 USD per sharePaidYahoo Finance (ex-div)
2025-11-031.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2025-08-011.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2025-05-051.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2025-02-031.03 USDEx-dividend: 1.03 USD per sharePaidYahoo Finance (ex-div)
2024-11-010.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2024-08-010.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2024-04-300.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2024-01-290.99 USDEx-dividend: 0.99 USD per sharePaidYahoo Finance (ex-div)
2023-10-310.955 USDEx-dividend: 0.955 USD per sharePaidYahoo Finance (ex-div)
2023-07-310.955 USDEx-dividend: 0.955 USD per sharePaidYahoo Finance (ex-div)
2023-04-280.955 USDEx-dividend: 0.955 USD per sharePaidYahoo Finance (ex-div)
2023-01-270.955 USDEx-dividend: 0.955 USD per sharePaidYahoo Finance (ex-div)
2022-10-310.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)
2022-07-290.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)
2022-04-290.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)
2022-01-280.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)
2021-10-290.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)
2021-07-300.935 USDEx-dividend: 0.935 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)