Stock Analysis on Net

ONEOK Inc. (NYSE:OKE)

$22.49

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

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

ONEOK Inc., solvency ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. ONEOK Inc. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. ONEOK Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. ONEOK Inc. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. ONEOK Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. ONEOK Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. ONEOK Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. ONEOK Inc. financial leverage ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. ONEOK Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. ONEOK Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Equity

ONEOK Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
 
Total ONEOK shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Equity, Sector
Oil, Gas & Consumable Fuels
Debt to Equity, Industry
Energy

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
= ÷ =

2 Click competitor name to see calculations.

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

Debt to Equity (including Operating Lease Liability)

ONEOK Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
Current operating lease liability
Noncurrent operating lease liability
Total debt (including operating lease liability)
 
Total ONEOK shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Equity (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels
Debt to Equity (including Operating Lease Liability), Industry
Energy

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total ONEOK shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. ONEOK Inc. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Debt to Capital

ONEOK Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
Total ONEOK shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Capital, Sector
Oil, Gas & Consumable Fuels
Debt to Capital, Industry
Energy

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
= ÷ =

2 Click competitor name to see calculations.

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

Debt to Capital (including Operating Lease Liability)

ONEOK Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
Current operating lease liability
Noncurrent operating lease liability
Total debt (including operating lease liability)
Total ONEOK shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Capital (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels
Debt to Capital (including Operating Lease Liability), Industry
Energy

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. ONEOK Inc. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Debt to Assets

ONEOK Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Assets, Sector
Oil, Gas & Consumable Fuels
Debt to Assets, Industry
Energy

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 assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. ONEOK Inc. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Assets (including Operating Lease Liability)

ONEOK Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Current maturities of long-term debt
Short-term borrowings
Current finance lease liability
Long-term debt, excluding current maturities
Noncurrent finance lease liability
Total debt
Current operating lease liability
Noncurrent operating lease liability
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Debt to Assets (including Operating Lease Liability), Sector
Oil, Gas & Consumable Fuels
Debt to Assets (including Operating Lease Liability), Industry
Energy

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 assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. ONEOK Inc. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Financial Leverage

ONEOK Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Total assets
Total ONEOK shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Financial Leverage, Sector
Oil, Gas & Consumable Fuels
Financial Leverage, Industry
Energy

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
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. ONEOK Inc. financial leverage ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.

Interest Coverage

ONEOK Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Net income attributable to ONEOK
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Interest Coverage, Sector
Oil, Gas & Consumable Fuels
Interest Coverage, Industry
Energy

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
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. ONEOK Inc. interest coverage ratio improved from 2020 to 2021 and from 2021 to 2022.

Fixed Charge Coverage

ONEOK Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Federal statutory income tax rate
Selected Financial Data (US$ in thousands)
Net income attributable to ONEOK
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense, net of capitalized interest
Earnings before interest and tax (EBIT)
Add: Operating lease costs
Earnings before fixed charges and tax
 
Interest expense, net of capitalized interest
Operating lease costs
Preferred stock dividends
Preferred stock dividends, tax adjustment1
Preferred stock dividends, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
Chevron Corp.
ConocoPhillips
Exxon Mobil Corp.
Marathon Petroleum Corp.
Occidental Petroleum Corp.
Valero Energy Corp.
Fixed Charge Coverage, Sector
Oil, Gas & Consumable Fuels
Fixed Charge Coverage, Industry
Energy

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
Preferred stock dividends, tax adjustment = (Preferred stock dividends × Federal statutory income tax rate) ÷ (1 − Federal statutory income tax rate)
= ( × ) ÷ (1 − ) =

2 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. ONEOK Inc. fixed charge coverage ratio improved from 2020 to 2021 and from 2021 to 2022.