ONEOK INC /NEW/
OKE · Natural Gas Transmisison & Distribution · 630.0M shares · +4%/yr ↑ shares · EDGAR filings ↗
Reference price $66.00 · est. market cap ~$41.6B — last insider purchase, 2025-11-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B75Above-average gas midstream operator with strong margins, high growth and robust FCF.
Strengths
- Top-decile FCF (95th) and revenue growth +55% (89th); operating margin 81st pct
- Solid returns: ROE 15% (73rd), ROA 5.1% (77th)
Risks
- Elevated leverage (debt/equity 1.37, 84th pct) and weak liquidity (current 16th, quick 17th pct)
- Growth partly acquisition-driven; gross margin only 36th pct
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.71 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
30.5%
Operating margin
17.1%
Net margin
10.1%
Return on equity
15.1%
Return on assets
5.1%
ROIC
8.5%
Revenue growth (QoQ)
6.1%
Net-income growth
11.8%
Debt / equity
1.4×
Net debt / EBITDA
4.2×
Current ratio
0.7×
Free cash flow
$2.4B
EBITDA
$7.3B
Tangible book value
$11.5B
Cash & investments
$78M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-28 | SPEARS MARY M | Gift | 1.0K | — |
| 2026-05-20 | Owodunni Precious W | Grant | 1.8K | $92.15 |
| 2026-05-20 | HELDERMAN MARK W | Grant | 3.0K | $92.15 |
| 2026-05-20 | RODRIGUEZ EDUARDO A | Grant | 1.5K | $92.15 |
| 2026-05-20 | MCCOLLUM MARK A | Grant | 1.8K | $92.15 |
| 2026-05-20 | EDWARDS JULIE H | Grant | 1.8K | $92.15 |
| 2026-02-22 | SPEARS MARY M | Option exercise | 2.3K | — |
| 2026-02-22 | SPEARS MARY M | Tax withheld | 1.1K | $87.33 |
| 2026-02-22 | SWORDS SHERIDAN C | Option exercise | 4.9K | — |
| 2026-02-22 | SWORDS SHERIDAN C | Tax withheld | 2.2K | $87.33 |
| 2026-02-22 | BURDICK KEVIN L | Option exercise | 5.6K | — |
| 2026-02-22 | BURDICK KEVIN L | Tax withheld | 2.5K | $87.33 |
| 2026-02-22 | HULSE WALTER S III | Option exercise | 7.7K | — |
| 2026-02-22 | HULSE WALTER S III | Tax withheld | 3.5K | $87.33 |
| 2026-02-22 | Taylor Lyndon C | Option exercise | 8.5K | — |
| 2026-02-22 | Taylor Lyndon C | Tax withheld | 3.8K | $87.33 |
| 2026-02-22 | NORTON PIERCE | Option exercise | 18K | — |
| 2026-02-22 | NORTON PIERCE | Tax withheld | 7.8K | $87.33 |
| 2026-01-30 | Lentz Randy N | Option exercise | 6.6K | $79.19 |
| 2026-01-30 | Lentz Randy N | Tax withheld | 1.7K | $79.19 |
| 2026-01-23 | Owodunni Precious W | Grant | 727 | $78.00 |
| 2026-01-23 | MCCOLLUM MARK A | Grant | 727 | $78.00 |
| 2025-11-03 | DERKSEN BRIAN L | Buy | 2.5K | $66.00 |
| 2025-06-13 | Taylor Lyndon C | Grant | 14 | $83.75 |
| 2025-06-13 | Taylor Lyndon C | Tax withheld | 7 | $83.75 |
| 2025-06-13 | HULSE WALTER S III | Grant | 14 | $83.75 |
| 2025-06-13 | HULSE WALTER S III | Tax withheld | 7 | $83.75 |
| 2025-06-13 | BURDICK KEVIN L | Grant | 14 | $83.75 |
| 2025-06-13 | BURDICK KEVIN L | Tax withheld | 7 | $83.75 |
| 2025-06-13 | SPEARS MARY M | Grant | 14 | $83.75 |
| 2025-06-13 | SPEARS MARY M | Tax withheld | 7 | $83.75 |
| 2025-06-13 | Lentz Randy N | Grant | 14 | $83.75 |
| 2025-06-13 | Lentz Randy N | Tax withheld | 4 | $83.75 |
| 2025-06-13 | SWORDS SHERIDAN C | Grant | 14 | $83.75 |
| 2025-06-13 | SWORDS SHERIDAN C | Tax withheld | 7 | $83.75 |
| 2025-06-13 | NORTON PIERCE | Grant | 14 | $83.75 |
| 2025-06-13 | NORTON PIERCE | Tax withheld | 7 | $83.75 |
| 2025-05-23 | EDWARDS JULIE H | Grant | 3.5K | $81.14 |
| 2025-05-23 | RODRIGUEZ EDUARDO A | Grant | 1.7K | $81.14 |
| 2025-05-23 | HELDERMAN MARK W | Grant | 3.5K | $81.14 |
| 2025-02-23 | HULSE WALTER S III | Option exercise | 12K | — |
| 2025-02-23 | HULSE WALTER S III | Tax withheld | 5.1K | $98.10 |
| 2025-02-23 | HULSE WALTER S III | Option exercise | 6.6K | — |
| 2025-02-23 | HULSE WALTER S III | Tax withheld | 2.9K | $98.10 |
| 2025-02-23 | KELLEY CHARLES M | Option exercise | 6.8K | — |
| 2025-02-23 | KELLEY CHARLES M | Tax withheld | 3.0K | $98.10 |
| 2025-02-23 | KELLEY CHARLES M | Option exercise | 3.9K | — |
| 2025-02-23 | KELLEY CHARLES M | Tax withheld | 1.8K | $98.10 |
| 2025-02-23 | SWORDS SHERIDAN C | Option exercise | 8.6K | — |
| 2025-02-23 | SWORDS SHERIDAN C | Tax withheld | 3.8K | $98.10 |
| 2025-02-23 | SWORDS SHERIDAN C | Option exercise | 4.8K | — |
| 2025-02-23 | SWORDS SHERIDAN C | Tax withheld | 2.2K | $98.10 |
| 2025-02-23 | SPEARS MARY M | Option exercise | 3.4K | — |
| 2025-02-23 | SPEARS MARY M | Tax withheld | 1.5K | $98.10 |
| 2025-02-23 | SPEARS MARY M | Option exercise | 1.9K | — |
| 2025-02-23 | SPEARS MARY M | Tax withheld | 908 | $98.10 |
| 2025-02-23 | BURDICK KEVIN L | Option exercise | 11K | — |
| 2025-02-23 | BURDICK KEVIN L | Tax withheld | 4.8K | $98.10 |
| 2025-02-23 | BURDICK KEVIN L | Option exercise | 6.2K | — |
| 2025-02-23 | BURDICK KEVIN L | Tax withheld | 2.8K | $98.10 |
| 2025-02-23 | NORTON PIERCE | Option exercise | 31K | — |
| 2025-02-23 | NORTON PIERCE | Tax withheld | 14K | $98.10 |
| 2025-02-23 | NORTON PIERCE | Option exercise | 17K | — |
| 2025-02-23 | NORTON PIERCE | Tax withheld | 7.7K | $98.10 |
| 2024-12-31 | Hoskin James R | Option exercise | 3.3K | — |
| 2024-12-31 | Hoskin James R | Tax withheld | 1.1K | $100.40 |
| 2024-12-31 | Hoskin James R | Option exercise | 1.7K | — |
| 2024-12-31 | Hoskin James R | Tax withheld | 487 | $100.40 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | Shareholder vote | filing ↗ |
| 2026-04-28 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-25 | Exec/director changeExhibits | filing ↗ |
| 2026-02-23 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-26 | Exec/director changeExhibits | filing ↗ |
| 2025-10-28 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-13 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-08-08 | Material agreementReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-20 | 0001039684-26-000022 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001039684-26-000017 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001039684-26-000015 ↗ |
| 8-K | 2026-03-25 | 2026-03-20 | 0001039684-26-000008 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001039684-26-000006 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001039684-26-000004 ↗ |
| 8-K | 2026-01-26 | 2026-01-21 | 0001039684-26-000002 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001039684-25-000123 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001039684-25-000121 ↗ |
| 8-K | 2025-08-13 | 2025-08-12 | 0001193125-25-179986 ↗ |
| 8-K | 2025-08-08 | 2025-08-06 | 0001193125-25-175816 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001039684-25-000114 ↗ |