Stock Analysis on Net
Stock Analysis on Net

ONEOK Inc. (NYSE:OKE)

This company has been moved to the archive! The financial data has not been updated since August 8, 2023.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

ONEOK Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.92 0.70 0.37 0.47 0.69
Adjusted 0.92 0.70 0.37 0.47 0.69
Solvency Ratios
Debt to Equity
Reported 2.10 2.27 2.36 2.05 1.43
Adjusted 1.67 1.92 2.14 1.89 1.39
Debt to Capital
Reported 0.68 0.69 0.70 0.67 0.59
Adjusted 0.63 0.66 0.68 0.65 0.58
Financial Leverage
Reported 3.75 3.93 3.82 3.50 2.77
Adjusted 2.96 3.29 3.44 3.23 2.68
Profitability Ratios
Net Profit Margin
Reported 7.69% 9.07% 7.17% 12.58% 9.15%
Adjusted 11.38% 12.41% 7.28% 14.42% 12.34%
Return on Equity (ROE)
Reported 26.52% 24.93% 10.14% 20.54% 17.50%
Adjusted 30.96% 28.57% 9.27% 21.67% 22.86%
Return on Assets (ROA)
Reported 7.06% 6.35% 2.66% 5.86% 6.32%
Adjusted 10.45% 8.69% 2.70% 6.72% 8.52%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. ONEOK Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. ONEOK Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. ONEOK Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 ONEOK Inc. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. ONEOK Inc. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. ONEOK Inc. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. ONEOK Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

ONEOK Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Revenues 22,386,892 16,540,309 8,542,242 10,164,367 12,593,196
Total assets 24,379,094 23,621,613 23,078,754 21,812,121 18,231,671
Activity Ratio
Total asset turnover1 0.92 0.70 0.37 0.47 0.69
Adjusted
Selected Financial Data (US$ in thousands)
Revenues 22,386,892 16,540,309 8,542,242 10,164,367 12,593,196
Adjusted total assets2 24,379,094 23,621,613 23,078,754 21,812,121 18,250,173
Activity Ratio
Adjusted total asset turnover3 0.92 0.70 0.37 0.47 0.69

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Total asset turnover = Revenues ÷ Total assets
= 22,386,892 ÷ 24,379,094 = 0.92

2 Adjusted total assets. See details »

3 2022 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 22,386,892 ÷ 24,379,094 = 0.92

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. ONEOK Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt 13,643,087 13,667,116 14,260,367 12,733,652 9,408,993
Total ONEOK shareholders’ equity 6,493,885 6,015,163 6,042,398 6,225,951 6,579,543
Solvency Ratio
Debt to equity1 2.10 2.27 2.36 2.05 1.43
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 13,723,486 13,756,535 14,361,587 12,749,044 9,427,495
Adjusted total ONEOK shareholders’ equity3 8,232,410 7,181,853 6,712,095 6,762,014 6,799,274
Solvency Ratio
Adjusted debt to equity4 1.67 1.92 2.14 1.89 1.39

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to equity = Total debt ÷ Total ONEOK shareholders’ equity
= 13,643,087 ÷ 6,493,885 = 2.10

2 Adjusted total debt. See details »

3 Adjusted total ONEOK shareholders’ equity. See details »

4 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total ONEOK shareholders’ equity
= 13,723,486 ÷ 8,232,410 = 1.67

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. ONEOK Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt 13,643,087 13,667,116 14,260,367 12,733,652 9,408,993
Total capital 20,136,972 19,682,279 20,302,765 18,959,603 15,988,536
Solvency Ratio
Debt to capital1 0.68 0.69 0.70 0.67 0.59
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 13,723,486 13,756,535 14,361,587 12,749,044 9,427,495
Adjusted total capital3 21,955,896 20,938,388 21,073,682 19,511,058 16,226,769
Solvency Ratio
Adjusted debt to capital4 0.63 0.66 0.68 0.65 0.58

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 13,643,087 ÷ 20,136,972 = 0.68

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 13,723,486 ÷ 21,955,896 = 0.63

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. ONEOK Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total assets 24,379,094 23,621,613 23,078,754 21,812,121 18,231,671
Total ONEOK shareholders’ equity 6,493,885 6,015,163 6,042,398 6,225,951 6,579,543
Solvency Ratio
Financial leverage1 3.75 3.93 3.82 3.50 2.77
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets2 24,379,094 23,621,613 23,078,754 21,812,121 18,250,173
Adjusted total ONEOK shareholders’ equity3 8,232,410 7,181,853 6,712,095 6,762,014 6,799,274
Solvency Ratio
Adjusted financial leverage4 2.96 3.29 3.44 3.23 2.68

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Financial leverage = Total assets ÷ Total ONEOK shareholders’ equity
= 24,379,094 ÷ 6,493,885 = 3.75

2 Adjusted total assets. See details »

3 Adjusted total ONEOK shareholders’ equity. See details »

4 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total ONEOK shareholders’ equity
= 24,379,094 ÷ 8,232,410 = 2.96

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 ONEOK Inc. adjusted financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ONEOK 1,722,221 1,499,706 612,809 1,278,577 1,151,703
Revenues 22,386,892 16,540,309 8,542,242 10,164,367 12,593,196
Profitability Ratio
Net profit margin1 7.69% 9.07% 7.17% 12.58% 9.15%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 2,548,735 2,051,861 622,090 1,465,545 1,554,434
Revenues 22,386,892 16,540,309 8,542,242 10,164,367 12,593,196
Profitability Ratio
Adjusted net profit margin3 11.38% 12.41% 7.28% 14.42% 12.34%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
Net profit margin = 100 × Net income attributable to ONEOK ÷ Revenues
= 100 × 1,722,221 ÷ 22,386,892 = 7.69%

2 Adjusted net income. See details »

3 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Revenues
= 100 × 2,548,735 ÷ 22,386,892 = 11.38%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. ONEOK Inc. adjusted net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ONEOK 1,722,221 1,499,706 612,809 1,278,577 1,151,703
Total ONEOK shareholders’ equity 6,493,885 6,015,163 6,042,398 6,225,951 6,579,543
Profitability Ratio
ROE1 26.52% 24.93% 10.14% 20.54% 17.50%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 2,548,735 2,051,861 622,090 1,465,545 1,554,434
Adjusted total ONEOK shareholders’ equity3 8,232,410 7,181,853 6,712,095 6,762,014 6,799,274
Profitability Ratio
Adjusted ROE4 30.96% 28.57% 9.27% 21.67% 22.86%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROE = 100 × Net income attributable to ONEOK ÷ Total ONEOK shareholders’ equity
= 100 × 1,722,221 ÷ 6,493,885 = 26.52%

2 Adjusted net income. See details »

3 Adjusted total ONEOK shareholders’ equity. See details »

4 2022 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total ONEOK shareholders’ equity
= 100 × 2,548,735 ÷ 8,232,410 = 30.96%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. ONEOK Inc. adjusted ROE improved from 2020 to 2021 and from 2021 to 2022.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income attributable to ONEOK 1,722,221 1,499,706 612,809 1,278,577 1,151,703
Total assets 24,379,094 23,621,613 23,078,754 21,812,121 18,231,671
Profitability Ratio
ROA1 7.06% 6.35% 2.66% 5.86% 6.32%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income2 2,548,735 2,051,861 622,090 1,465,545 1,554,434
Adjusted total assets3 24,379,094 23,621,613 23,078,754 21,812,121 18,250,173
Profitability Ratio
Adjusted ROA4 10.45% 8.69% 2.70% 6.72% 8.52%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

1 2022 Calculation
ROA = 100 × Net income attributable to ONEOK ÷ Total assets
= 100 × 1,722,221 ÷ 24,379,094 = 7.06%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 2,548,735 ÷ 24,379,094 = 10.45%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. ONEOK Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.