OKE (ONEOK, Inc.) Stock Financials & Earnings | Market Cap Arena

OKE (ONEOK, Inc.) Stock Financials & Earnings | Market Cap Arena

OKEONEOK, Inc.

Mkt Cap$54B

Energy·Oil & Gas Midstream·🇺🇸 United States·NYSE

Revenue (TTM)$33.6B

Net Income (TTM)$3.4B

EPS (TTM)$5.42

Free Cash Flow (TTM)$4.3B

Gross Margin21.5%

Op. Margin20.7%

Net Margin10.1%

FCF Margin12.8%

P/S Ratio (TTM)1.6x

P/E Ratio (TTM)16.0x

YoY Rev Growth+55.0%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$4.5B	$747M	$1.5B
Q2 23	$3.6B	$632M	$585M
Q3 23	$4.2B	$859M	$816M
Q4 23	$5.2B	$1.3B	$1.2B
Q1 24	$4.8B	$1.1B	$1.1B
Q2 24	$4.9B	$1.3B	$1.2B
Q3 24	$5.0B	$1.2B	$1.1B
Q4 24	$7.0B	$2.2B	$1.6B
Q1 25	$8.0B	$1.4B	$1.3B
Q2 25	$7.9B	$1.5B	$1.5B
Q3 25	$8.6B	$1.7B	$1.6B
Q4 25	$9.1B	$2.7B	$2.7B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	2.5x	22.8x
Q2 23	2.8x	22.3x
Q3 23	3.1x	22.1x
Q4 23	3.1x	20.4x
Q1 24	3.1x	24.1x
Q2 24	2.8x	21.2x
Q3 24	2.7x	19.4x
Q4 24	2.5x	17.9x
Q1 25	2.2x	17.9x
Q2 25	1.9x	17.5x
Q3 25	1.7x	16.2x
Q4 25	1.6x	16.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.2B	$932M
Q2 23	$772M	$467M
Q3 23	$920M	$522M
Q4 23	$1.5B	$905M
Q1 24	$596M	$84M
Q2 24	$1.4B	$951M
Q3 24	$1.3B	$783M
Q4 24	$1.6B	$1.0B
Q1 25	$904M	$275M
Q2 25	$1.5B	$776M
Q3 25	$1.6B	$820M
Q4 25	$5.6B	$2.4B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$289M
Q2 23	$305M
Q3 23	$398M
Q4 23	$603M
Q1 24	$512M
Q2 24	$479M
Q3 24	$468M
Q4 24	$562M
Q1 25	$629M
Q2 25	$749M
Q3 25	$804M
Q4 25	$3.2B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-20.5%	-38.5%
Q2 23	-41.8%	-44.3%
Q3 23	-30.6%	-35.7%
Q4 23	+3.0%	-7.8%
Q1 24	+6.3%	+22.8%
Q2 24	+34.6%	+20.1%
Q3 24	+20.8%	+16.2%
Q4 24	+35.1%	+37.8%
Q1 25	+68.2%	+82.4%
Q2 25	+61.2%	+75.6%
Q3 25	+71.9%	+82.1%
Q4 25	+29.5%	+17.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$680M	$0	$680M
Q2 23	$106M	$0	$106M
Q3 23	$284M	$0	$284M
Q4 23	$338M	$0	$338M
Q1 24	$65M	$0	$65M
Q2 24	$36M	$0	$36M
Q3 24	$579M	$0	$579M
Q4 24	$733M	$0	$733M
Q1 25	$141M	$0	$141M
Q2 25	$97M	$0	$97M
Q3 25	$1.2B	$0	$1.2B
Q4 25	$78M	$0	$78M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	449M	+0.0%
Q2 23	449M	+0.0%
Q3 23	458M	+2.0%
Q4 23	586M	+27.8%
Q1 24	586M	+0.0%
Q2 24	586M	+0.0%
Q3 24	587M	+0.2%
Q4 24	587M	-0.0%
Q1 25	613M	+4.4%
Q2 25	628M	+2.5%
Q3 25	628M	+0.0%
Q4 25	631M	+0.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$5M	2K
FY 15	$3M	2K
FY 16	$4M	2K
FY 17	$5M	2K
FY 18	$5M	3K
FY 19	$4M	3K
FY 20	$3M	3K
FY 21	$6M	3K
FY 22	$8M	3K
FY 23	$4M	5K
FY 24	$4M	5K
FY 25	$5M	6K