Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
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Solvency Ratios (Summary)
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
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
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
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
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
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
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
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
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
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. |