ONEOK Inc (OKE) - Net Assets
Based on the latest financial reports, ONEOK Inc (OKE) has net assets worth $22.16 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($66.62 Billion) and total liabilities ($44.46 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore OKE current and non-current assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $22.16 Billion |
| % of Total Assets | 33.26% |
| Annual Growth Rate | 14.51% |
| 5-Year Change | 266.29% |
| 10-Year Change | 487.65% |
| Growth Volatility | 48.83 |
ONEOK Inc - Net Assets Trend (1994–2024)
This chart illustrates how ONEOK Inc's net assets have evolved over time, based on quarterly financial data. Check ONEOK Inc (OKE) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for ONEOK Inc (1994–2024)
The table below shows the annual net assets of ONEOK Inc from 1994 to 2024. For live valuation and market cap data, see OKE stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $22.13 Billion | +34.27% |
| 2023-12-31 | $16.48 Billion | +153.84% |
| 2022-12-31 | $6.49 Billion | +7.96% |
| 2021-12-31 | $6.02 Billion | -0.45% |
| 2020-12-31 | $6.04 Billion | -2.95% |
| 2019-12-31 | $6.23 Billion | -5.37% |
| 2018-12-31 | $6.58 Billion | +15.73% |
| 2017-12-31 | $5.69 Billion | +65.81% |
| 2016-12-31 | $3.43 Billion | -8.96% |
| 2015-12-31 | $3.77 Billion | -4.96% |
| 2014-12-31 | $3.96 Billion | -18.77% |
| 2013-12-31 | $4.88 Billion | +15.28% |
| 2012-12-31 | $4.23 Billion | +11.39% |
| 2011-12-31 | $3.80 Billion | -3.09% |
| 2010-12-31 | $3.92 Billion | +13.80% |
| 2009-12-31 | $3.45 Billion | +8.77% |
| 2008-12-31 | $3.17 Billion | +14.30% |
| 2007-12-31 | $2.77 Billion | -4.54% |
| 2006-12-31 | $2.90 Billion | +165.59% |
| 2005-12-31 | $1.09 Billion | -32.20% |
| 2004-12-31 | $1.61 Billion | +41.52% |
| 2003-12-31 | $1.14 Billion | -21.12% |
| 2002-12-31 | $1.44 Billion | +16.53% |
| 2001-12-31 | $1.24 Billion | +1.91% |
| 2000-12-31 | $1.22 Billion | +5.46% |
| 1999-12-31 | $1.15 Billion | -1.34% |
| 1998-12-31 | $1.17 Billion | +152.67% |
| 1997-12-31 | $462.60 Million | +9.18% |
| 1996-12-31 | $423.70 Million | +3.52% |
| 1995-12-31 | $409.30 Million | +7.85% |
| 1994-12-31 | $379.50 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to ONEOK Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 802.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.58 Billion | 9.27% |
| Common Stock | $6.00 Million | 0.04% |
| Other Comprehensive Income | $-96.00 Million | -0.56% |
| Other Components | $15.55 Billion | 91.26% |
| Total Equity | $17.04 Billion | 100.00% |
ONEOK Inc Competitors by Market Cap
The table below lists competitors of ONEOK Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ford Motor Company
NYSE:F
|
$55.15 Billion |
|
LG Energy Solution Ltd
KO:373220
|
$55.19 Billion |
|
Nordea Bank Abp
HE:NDA-FI
|
$55.32 Billion |
|
Fubon Financial Holding Co Ltd
TW:2881
|
$55.33 Billion |
|
Hindustan Unilever Limited
NSE:HINDUNILVR
|
$54.93 Billion |
|
ASS.GENERALI ADR 1/2/EO 1
F:ASG0
|
$54.86 Billion |
|
United Microelectronics Corporation
TW:2303
|
$54.85 Billion |
|
Carrier Global Corp
NYSE:CARR
|
$54.72 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ONEOK Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 16,484,000,000 to 17,036,000,000, a change of 552,000,000 (3.3%).
- Net income of 3,035,000,000 contributed positively to equity growth.
- Dividend payments of 2,313,000,000 reduced retained earnings.
- Share repurchases of 159,000,000 reduced equity.
- Other comprehensive income decreased equity by 63,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $3.04 Billion | +17.82% |
| Dividends Paid | $2.31 Billion | -13.58% |
| Share Repurchases | $159.00 Million | -0.93% |
| Other Comprehensive Income | $-63.00 Million | -0.37% |
| Other Changes | $52.00 Million | +0.31% |
| Total Change | $- | 3.35% |
Book Value vs Market Value Analysis
This analysis compares ONEOK Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.21x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 26.25x to 3.21x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $3.55 | $93.23 | x |
| 1995-12-31 | $3.70 | $93.23 | x |
| 1996-12-31 | $3.90 | $93.23 | x |
| 1997-12-31 | $4.18 | $93.23 | x |
| 1998-12-31 | $9.60 | $93.23 | x |
| 1999-12-31 | $5.71 | $93.23 | x |
| 2000-12-31 | $6.23 | $93.23 | x |
| 2001-12-31 | $6.35 | $93.23 | x |
| 2002-12-31 | $6.79 | $93.23 | x |
| 2003-12-31 | $6.40 | $93.23 | x |
| 2004-12-31 | $7.61 | $93.23 | x |
| 2005-12-31 | $8.31 | $93.23 | x |
| 2006-12-31 | $9.68 | $93.23 | x |
| 2007-12-31 | $9.01 | $93.23 | x |
| 2008-12-31 | $9.87 | $93.23 | x |
| 2009-12-31 | $10.38 | $93.23 | x |
| 2010-12-31 | $11.36 | $93.23 | x |
| 2011-12-31 | $10.44 | $93.23 | x |
| 2012-12-31 | $10.11 | $93.23 | x |
| 2013-12-31 | $11.15 | $93.23 | x |
| 2014-12-31 | $2.81 | $93.23 | x |
| 2015-12-31 | $1.59 | $93.23 | x |
| 2016-12-31 | $0.89 | $93.23 | x |
| 2017-12-31 | $18.44 | $93.23 | x |
| 2018-12-31 | $15.89 | $93.23 | x |
| 2019-12-31 | $14.99 | $93.23 | x |
| 2020-12-31 | $13.99 | $93.23 | x |
| 2021-12-31 | $13.44 | $93.23 | x |
| 2022-12-31 | $14.48 | $93.23 | x |
| 2023-12-31 | $33.96 | $93.23 | x |
| 2024-12-31 | $29.05 | $93.23 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ONEOK Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.82%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.03%
- • Asset Turnover: 0.34x
- • Equity Multiplier: 3.76x
- Recent ROE (17.82%) is below the historical average (23.01%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 9.54% | 4.57% | 0.70x | 3.00x | $-1.75 Million |
| 1995 | 10.76% | 4.51% | 0.80x | 2.97x | $3.04 Million |
| 1996 | 12.46% | 4.31% | 1.00x | 2.88x | $10.43 Million |
| 1997 | 12.82% | 5.10% | 0.94x | 2.67x | $13.04 Million |
| 1998 | 8.71% | 5.55% | 0.76x | 2.07x | $-15.09 Million |
| 1999 | 3.07% | 4.37% | 0.25x | 2.81x | $-79.81 Million |
| 2000 | 11.89% | 2.19% | 0.90x | 6.01x | $23.11 Million |
| 2001 | 8.03% | 1.49% | 1.16x | 4.63x | $-24.96 Million |
| 2002 | 12.20% | 7.92% | 0.36x | 4.25x | $30.06 Million |
| 2003 | 9.06% | 3.75% | 0.48x | 5.00x | $-11.65 Million |
| 2004 | 15.08% | 4.04% | 0.83x | 4.48x | $81.61 Million |
| 2005 | 30.45% | 4.31% | 1.36x | 5.19x | $367.07 Million |
| 2006 | 13.82% | 2.57% | 1.14x | 4.69x | $84.72 Million |
| 2007 | 15.48% | 2.26% | 1.22x | 5.62x | $107.99 Million |
| 2008 | 14.94% | 1.93% | 1.23x | 6.29x | $103.09 Million |
| 2009 | 13.84% | 2.70% | 0.88x | 5.81x | $84.73 Million |
| 2010 | 13.67% | 2.60% | 1.03x | 5.10x | $89.77 Million |
| 2011 | 16.11% | 2.44% | 1.08x | 6.12x | $136.74 Million |
| 2012 | 16.93% | 2.89% | 0.79x | 7.45x | $147.66 Million |
| 2013 | 11.40% | 1.83% | 0.82x | 7.59x | $32.75 Million |
| 2014 | 53.05% | 2.57% | 0.80x | 25.78x | $254.90 Million |
| 2015 | 72.95% | 3.19% | 0.50x | 46.00x | $211.40 Million |
| 2016 | 186.52% | 3.96% | 0.55x | 85.51x | $333.16 Million |
| 2017 | 7.02% | 3.17% | 0.73x | 3.05x | $-164.95 Million |
| 2018 | 17.50% | 9.12% | 0.69x | 2.77x | $493.75 Million |
| 2019 | 20.54% | 12.64% | 0.46x | 3.50x | $655.98 Million |
| 2020 | 10.14% | 7.25% | 0.37x | 3.82x | $8.57 Million |
| 2021 | 24.94% | 8.68% | 0.73x | 3.93x | $898.48 Million |
| 2022 | 26.52% | 7.53% | 0.94x | 3.75x | $1.07 Billion |
| 2023 | 16.13% | 15.04% | 0.40x | 2.69x | $1.01 Billion |
| 2024 | 17.82% | 14.03% | 0.34x | 3.76x | $1.33 Billion |
Industry Comparison
This section compares ONEOK Inc's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $601,583,963
- Average return on equity (ROE) among peers: 36.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ONEOK Inc (OKE) | $22.16 Billion | 9.54% | 2.01x | $55.00 Billion |
| Antero Midstream Partners LP (AM) | $1.34 Billion | 1.25% | 0.04x | $10.12 Billion |
| CBL International Limited Ordinary Shares (BANL) | $25.29 Million | 4.50% | 1.11x | $12.00 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $4.96 Million | 112.81% | 0.07x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $-3.51K | 0.00% | 0.00x | $284.93 Million |
| BW LPG Limited (BWLP) | $983.62 Million | -6.82% | 1.30x | $3.30 Billion |
| Cheniere Energy Partners LP (CQP) | $-2.13 Billion | 0.00% | 0.00x | $29.93 Billion |
| Cheniere Energy Partners LP (CQP) | $539.00 Million | 219.48% | 34.52x | $25.77 Billion |
| DHT Holdings Inc (DHT) | $1.04 Billion | 17.39% | 0.43x | $2.56 Billion |
| Dynagas LNG Partners LP (DLNG) | $484.80 Million | 10.64% | 0.75x | $135.34 Million |
| DT Midstream Inc (DTM) | $3.72 Billion | 5.48% | 1.09x | $12.24 Billion |
About ONEOK Inc
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-Conti… Read more