Valuation, from the filing
| Public float | $51.10B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $81.14 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 15.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 2.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
15.1× earnings today, against a median of 22.0× across 9 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $51.10B | 15.1× | |
| 2024-06-30 | $47.30B | 15.6× | |
| 2023-06-30 | $27.40B | 10.3× | |
| 2022-06-30 | $24.50B | 14.2× | |
| 2020-06-30 | $14.50B | 23.7× | |
| 2019-06-28 | $28.10B | 22.0× | |
| 2018-06-30 | $28.30B | 24.6× | |
| 2017-06-30 | $19.50B | 50.3× | |
| 2016-06-30 | $9.70B | 27.6× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Natural Gas Transmisison & Distribution filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 1.36x | 75th | |
| Current ratio | 0.71x | 40th | |
| Effective tax rate | 22.9% | 50th |
ONEOK INC /NEW/ (OKE) reported revenue of $43.19B and net income of $4.07B for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from ONEOK INC /NEW/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Natural Gas Transmisison & Distribution.
Income
| Metric | 2026-09-30 |
|---|---|
| Revenue | $43.19B |
| Cost of revenue | $32.30B |
| Gross profit | $10.88B |
| Operating income | $6.12B |
| Net income | $4.07B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $4.90B |
| Income tax expense | $792.00M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $186.00M |
| Total assets | $74.29B |
| Current assets | $6.25B |
| Total liabilities | Unavailable |
| Current liabilities | $7.42B |
| Total equity incl. NCI | $32.46B |
| Temporary (mezzanine) equity | $50.00M |
| Inventory | $1.34B |
| Accounts receivable | $4.18B |
| Goodwill | $8.06B |
| Long-term debt | $26.94B |
| Accounts payable | $4.22B |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $5.91B |
| Capital expenditures | $3.38B |
| Investing cash flow | -$4.03B |
| Financing cash flow | $1.10B |
| Net change in cash | $2.99B |
| Stock-based compensation | Unavailable |
| Common dividends paid | $2.67B |
| Common share repurchases | Unavailable |
| Depreciation & amortization | $1.55B |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | $2.53B |
| Gross margin | 25.2% |
| Operating margin | 14.2% |
| FCF margin | 5.9% |
| SBC / revenue | Unavailable |
| Current ratio | 0.84x |
| Revenue YoY growth | 36.8% |
| Net margin | 9.4% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 7.8% |
| Long-term debt / equity | 0.83x |
| Effective tax rate | 16.2% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open OKE in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.