Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
ONEOK Inc., profitability ratios
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).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | ONEOK Inc. gross profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | ONEOK Inc. operating profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | ONEOK Inc. net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | ONEOK Inc. ROE improved from 2020 to 2021 and from 2021 to 2022. |
| ROA | A profitability ratio calculated as net income divided by total assets. | ONEOK Inc. ROA improved from 2020 to 2021 and from 2021 to 2022. |
Gross Profit Margin
ONEOK Inc., gross profit margin calculation
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
Gross profit margin = 100 × Net margin ÷ Revenues
= 100 × 4,477,026 ÷ 22,386,892 = 20.00%
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | ONEOK Inc. gross profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Operating Profit Margin
ONEOK Inc., operating profit margin 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) | ||||||
| Operating income | 2,807,419) | 2,596,259) | 1,361,357) | 1,914,353) | 1,835,464) | |
| Revenues | 22,386,892) | 16,540,309) | 8,542,242) | 10,164,367) | 12,593,196) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 12.54% | 15.70% | 15.94% | 18.83% | 14.58% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| Chevron Corp. | 21.42% | 14.81% | -6.22% | — | — | |
| ConocoPhillips | 36.80% | 29.84% | -12.74% | — | — | |
| Exxon Mobil Corp. | 19.82% | 11.91% | -14.85% | — | — | |
| Occidental Petroleum Corp. | 38.32% | 17.59% | -79.89% | — | — | |
| Operating Profit Margin, Sector | ||||||
| Oil, Gas & Consumable Fuels | 23.01% | 14.73% | -15.83% | — | — | |
| Operating Profit Margin, Industry | ||||||
| Energy | 22.71% | 14.61% | -18.01% | — | — | |
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
Operating profit margin = 100 × Operating income ÷ Revenues
= 100 × 2,807,419 ÷ 22,386,892 = 12.54%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | ONEOK Inc. operating profit margin ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net Profit Margin
ONEOK Inc., net profit margin 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) | ||||||
| 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% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| Chevron Corp. | 15.05% | 10.04% | -5.87% | — | — | |
| ConocoPhillips | 23.80% | 17.63% | -14.38% | — | — | |
| Exxon Mobil Corp. | 13.98% | 8.33% | -12.57% | — | — | |
| Occidental Petroleum Corp. | 36.32% | 8.95% | -83.28% | — | — | |
| Net Profit Margin, Sector | ||||||
| Oil, Gas & Consumable Fuels | 16.44% | 9.73% | -14.70% | — | — | |
| Net Profit Margin, Industry | ||||||
| Energy | 16.28% | 9.67% | -16.81% | — | — | |
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 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | ONEOK Inc. net profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Return on Equity (ROE)
ONEOK Inc., ROE 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) | ||||||
| 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% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| Chevron Corp. | 22.27% | 11.24% | -4.21% | — | — | |
| ConocoPhillips | 38.91% | 17.79% | -9.05% | — | — | |
| Exxon Mobil Corp. | 28.58% | 13.67% | -14.28% | — | — | |
| Occidental Petroleum Corp. | 44.22% | 11.42% | -79.85% | — | — | |
| ROE, Sector | ||||||
| Oil, Gas & Consumable Fuels | 28.49% | 13.14% | -13.50% | — | — | |
| ROE, Industry | ||||||
| Energy | 28.13% | 13.12% | -16.04% | — | — | |
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 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | ONEOK Inc. ROE improved from 2020 to 2021 and from 2021 to 2022. |
Return on Assets (ROA)
ONEOK Inc., ROA 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) | ||||||
| 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% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| Chevron Corp. | 13.76% | 6.52% | -2.31% | — | — | |
| ConocoPhillips | 19.91% | 8.91% | -4.31% | — | — | |
| Exxon Mobil Corp. | 15.10% | 6.80% | -6.74% | — | — | |
| Occidental Petroleum Corp. | 18.32% | 3.09% | -18.52% | — | — | |
| ROA, Sector | ||||||
| Oil, Gas & Consumable Fuels | 15.53% | 6.59% | -6.36% | — | — | |
| ROA, Industry | ||||||
| Energy | 15.14% | 6.48% | -7.40% | — | — | |
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 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | ONEOK Inc. ROA improved from 2020 to 2021 and from 2021 to 2022. |