# ONEOK Inc. (OKE) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Energy / Oil, Gas & Consumable Fuels. Price $95.43, market value $60.2 billion.

## Valuation
- **P/E (trailing): 16.5×** (5-yr avg 14.1×, 3-yr avg 14.2×). ONEOK Inc. trades at 16.5× trailing earnings, close to its own five-year average of 14.1×. The Energy median in the September 2026 study was 16.8×. Forward P/E is 15.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 3.17**. A PEG of 3.17 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 12.0×**. Enterprise value is 12.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.8%** (5-yr avg 7.2%). Free cash flow equals 4.8% of the market value, below its five-year average of 7.2%, so the shares are pricier on cash than usual.
- **Earnings yield: 6.1%**. The inverse of the P/E: 6.1% of the price is earned each year.

## Profitability
- **Operating margin: 15.5%**. 15.5% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 10.1%**. 10.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 15.1%**. 15.1% on shareholders' equity is solid.
- **Return on invested capital: 8.9%**. Return on all capital, debt included, is 8.9%.
- **Return on assets: 5.5%**. Each dollar of assets produces 5.5% of profit.

## Growth
- **Revenue growth (1 yr): 55.0%** (3-yr 14.5%/yr, 5-yr 31.5%/yr). Revenue grew 55.0% over the last year, against 31.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 4.8%** (3-yr 12.2%/yr, 5-yr 30.7%/yr). Earnings per share rose 4.8%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 12.8%/yr**. Free cash flow has compounded at 12.8% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 1.42**. Debt is 1.42 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 4.2×**. It would take 4.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 4.48%** ($4.24 per share, trailing). ONEOK Inc. yields 4.48%, an income-level yield.
- **Payout ratio: 76%** (91% of free cash flow). 76% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 2.0%/yr** (1-yr 4.0%). The dividend has grown 2.0% a year over five years.

## Analyst view
- **Analyst consensus: buy** (18 analysts). 18 analysts cover ONEOK Inc.; the consensus is buy, with an average price target of $99.94 (+5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 33.7%** (YTD 33.2%, 3-mo 8.1%). The shares are up 33.7% over twelve months including dividends.
- **From 52-week high: -4.4%** (49.1% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 58**. An RSI of 58 is neutral.
- **Beta (1 yr): -0.41** (volatility 27%). Beta of -0.41 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=OKE · Page: https://foliofundamentals.com/stocks/oke

Not investment advice.