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ONEOK Inc (OKE)

合理估值
EnergyOil & Gas MidstreamUnited States

基本面

62

价格

$86.63

市值

$55.87B

第一部分 · 这家公司值多少

概览

ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States. It operates in four segments: Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines; and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent, Permian Basin, North Texas, Gulf Coast region, and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines, fractionation, terminal and storage facilities; and transports refined products, including gasoline, diesel fuel, aviation fuel, kerosene, and heating oil. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities; it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases buildings, warehouses, office space, land, and equipment, including pipeline equipment, pipeline capacity, rail cars, and information technology equipment. Further, the company transports, stores, and distributes refined products, purity NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and diluent users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma.

No editorial profile for this company yet

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 2026年9月19日 with claude-haiku-4-5 — shared with all users

P/E: 25.8Score: 68Market cap: $59.49B

Targa runs the same integrated chain as ONEOK — wellhead gathering and processing in the Permian and Mid-Continent feeding NGL pipelines and Mont Belvieu fractionation — and bids against it for the same producers' gas and the same mixed-NGL barrels.

P/E: 27.1Score: 63Market cap: $84.37B

Williams competes with ONEOK for gathering and processing volumes in the Rocky Mountain, Mid-Continent and Permian basins and for interstate natural gas transportation and storage capacity sold to the same shippers.

P/E: 19.3Score: 64Market cap: $68.21B

Kinder Morgan sells the same fee-based interstate gas transportation, storage and refined-products pipeline and terminal capacity that ONEOK offers after the Magellan acquisition, to utilities, refiners and marketers in overlapping markets.

Energy Transfer LPET

Energy Transfer moves NGLs from the same Permian and Mid-Continent basins to the same Gulf Coast fractionation and export outlets, competing directly for producer dedications and for transport and fractionation fees.

Enterprise Products Partners L.P.EPD

Enterprise is the largest NGL pipeline, fractionation and export system in the United States and competes with ONEOK's natural gas liquids segment for the same mixed-NGL supply and the same petrochemical and export customers.

Western Midstream Partners, LPWES

Western Midstream gathers and processes natural gas in the Delaware Basin, Powder River Basin and DJ Basin, chasing dedications from the same producers ONEOK connects in those areas.

资产负债表与流动性

营收

$39.37B

最近12个月(截至2026/6/30)

净利润

$3.66B

最近12个月(截至2026/6/30)

自由现金流

$2.45B

股东权益合计

$22.48B

负债合计

$44.07B

流动比率

0.74

利息覆盖率

3.44

债务/EBITDA

4.55

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

周期性合理估值

公允价值

$83.75

当前价格

$86.63

安全边际

-3.4%

公允价值区间

$63.91 - $103.59

所用估值方法之间的离散区间,并非经过统计校准的置信区间。

估算方法

分析师目标价:$101.50
现金流折现法(DCF):不适用于此类公司
市盈率法(P/E):$86.14
格雷厄姆成长公式:不适用于此类公司
盈利能力价值(EPV):$47.28
合理市净率(P/B):不适用于此类公司
股息折现模型(戈登模型):不适用于此类公司
P/FFO(运营资金):不适用于此类公司
周期中段收益:$90.85
市销率法(P/S):不适用于此类公司
分析师共识:买入 (13B / 15H / 0S)
最近财报超预期:+3.93%

估值指标

市盈率(P/E)

14.70

ROE

15.1%

市净率(P/B)

2.34

P/FCF

18.50

毛利率

27.2%

ROIC

7.9%

盈利能力雷达图

价值创造(经济护城河)

ROIC

7.9%

WACC

7.1%

ROIC − WACC

+0.8 pp

ROIC 与资本成本大致持平:公司仅仅覆盖了资本成本。

基本面分析标准

通过(15)

  • EPS shows upward trend
  • Price CAGR 5.34%
  • ROIC 7.9%
  • P/FCF 18.50
  • P/B Ratio 2.34
  • Debt/Equity ratio
  • Operating Margin 15.5%
  • Positive Free Cash Flow
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 16.3%
  • PEG Ratio 0.50
  • Earnings Quality (OCF/NI) 1.68
  • Piotroski F-Score 5/9

未通过(12)

  • EPS CAGR 3.76%
  • Gross Margin 27.2%
  • CapEx intensity
  • Current Ratio
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Revenue Growth 5Y 4.4%
  • Analyst Consensus 46% Buy
  • Earnings Surprise avg 1.8%
  • Share Dilution 6.6%
  • Net Margin Trend 9.3% vs 11.1%

不可用(1)

  • Dividend Payout NaN%

Piotroski F-评分

5/9

信号混杂:部分领域需关注

score
criteria

盈利质量

1.68

高质量:盈利有现金流支撑

股权稀释

6.6%

正在发行新股,稀释所有权

机构持股

公司治理

管理团队

姓名职位年龄
Mr. Pierce H. Norton IIPresident, CEO & Director65
Mr. Walter S. Hulse IIICFO, Treasurer and Executive VP of Investor Relations & Corporate Development61
Mr. Randy N. LentzExecutive VP & COO60
Mr. Lyndon C. Taylor J.D.Executive VP, Chief Legal Officer & Assistant Secretary66
Mr. Sheridan C. SwordsExecutive VP & Chief Commercial Officer56
Ms. Mary M. SpearsSenior VP and Chief Accounting Officer of Finance & Tax45
Mr. J. Darren WallisSenior Vice President of Communications & Community Relations-
Mr. Brent D. StrehlowSenior VP & Chief Human Resources Officer-
Mr. Kevin L. BurdickExecutive VP & Chief Enterprise Services Officer60
Mr. Scott D. SchingenSenior VP of Eng., and Op. - Natural Gas Liquids, Natural Gas Pipelines and Corporate Measurement-

审计风险

6

董事会风险

2

薪酬风险

2

股东权利风险

8

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

文件

  • 年度报告(10-K)

    对公司业务、财务业绩和风险的年度概述。

    提交日期:2026-02-24

    查看文件
  • 季度报告(10-Q)

    最近三个月财务表现的最新情况。

    提交日期:2026-08-04

    查看文件
  • 临时报告(8-K)

    关于重大事件(如管理层变动或重要公告)的通知。

    提交日期:2026-09-15

    查看文件

via SEC EDGAR

损益历史

via SEC EDGAR

Latest News

Recent headlines for OKE, sourced from Markets Gazette.

  • 2/25/2026POSITIVE
    After A Recent Growth Spurt, This 4.9%-Yielding Dividend Stock is Slowing to A Crawl in 2026. Is a Reacceleration Coming?

    Markets Gazette examines Oneok, an energy company boasting a 4.9% dividend yield. Despite projections indicating a slowdown in growth for 2026, the company appears to possess robust fundamentals to continue increasing its generous payout. Investors are prompted to consider whether this deceleration is merely a temporary pause before a potential reacceleration. Oneok's ability to sustain and grow its dividend, even during a period of more modest expansion, stands as a key attractive factor, suggesting prudent financial management and a long-term value proposition for income-focused investors.

  • 2/24/2026NEGATIVE
    Why Oneok Fell Today

    Oneok Inc., the prominent pipeline operator, experienced a notable decline today, despite reporting earnings that surpassed analyst expectations. While the company delivered a strong performance on its latest earnings, this positive news was overshadowed by what investors perceived as "tepid" guidance for 2026. This cautious outlook for future performance has generated significant concern in the market, hinting at a potential slowdown in growth or lower-than-anticipated margins in the coming years. Investors often prioritize future projections over past results, particularly in capital-intensive sectors like energy infrastructure. The negative sentiment underscores how future expectations can outweigh current successes, leading to a downturn in Oneok's stock price.

  • 2/24/2026NEUTRAL
    ONEOK (OKE) Q4 2025 Earnings Call Transcript

    ONEOK (OKE), a prominent player in the energy sector, has scheduled its fourth-quarter 2025 earnings call for February 24, 2026. As of now, specific details regarding the financial results have not been released. Investors and analysts are keenly awaiting this date to assess the company's performance and future outlook, particularly concerning its midstream operations and natural gas distribution. The upcoming conference call will be crucial for understanding ONEOK's growth strategies and capital management within an evolving energy market landscape.

via Markets Gazette