OKE
Oneok Inc /new/ Energy Natural Gas Transmisison & Distribution S&P 500Russell 3000
$97.07Close
$61.1BMarket cap
$61.95 – $97.5152-week range
Mid-januaryNext report · estimated
Highlights
Strengths
- In a stage-2 uptrend all 8 trend conditions pass
- Near its high at its 52-week high
- Tight base near its pivot pullbacks 16% → 4%; 3.2% above its $94.08 pivot
- Earnings growing EPS +44% year on year, faster than the quarter before (+29 pts)
Cautions
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
0%
1wk
up 1.3%
price change
1mo
up 13.8%
price change
12-month return
up 53%
market up 11% ·
its own up 41%
F-score
5 / 9
Mixed
Altman Z″
1.04
Elevated risk
P/E
18.0×
price / earnings
PEG
3.79
P/E / EPS growth
P/B
2.7×
price / book
Earnings yield
up 6.3%
EBIT / enterprise value
Cheaper than
64%
of the market · cheap
Revenue growth
up 55%
year on year
EPS growth
up 44%
latest quarter · +29 pts
Sales growth
up 44%
latest quarter · -9 pts
ROE
up 17%
return on equity
Free cash margin
up 7%
$2.4B FCF
D/E
1.37
long-term debt / equity
Net debt / EBITDA
4.2×
Interest cover
—EBIT / interest
Piotroski tests
- profitability slipped from last year
- short-term liquidity weakened
- issued more shares
- gross margin narrowed
- profitable on its assets
- generating cash from operations
- profits backed by cash
- reduced long-term debt
- assets working harder
Trade setup
ATR%
2.4%
$2.29 a day · 2×ATR $92.49
RS
79 / 99
vs the universe
Trend
8 / 8
trend template
Relative volume
1.2×
vs 50-day average
Up/down volume
1.20
50 sessions
Implied move
—
no scheduled report
Contractions
2
16% → 4%
Pivot
$94.08
3.2% above
Volume dry-up
0.8×
10 vs 50 sessions
Trend template · 8 of 8
Screen verdict
Did not qualify for any screen.
Warning signs
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Heavily indebted Net debt is 4.2 times EBITDA — roughly 4 years of earnings before interest, tax and depreciation to repay borrowings in full.
- Shareholders diluted The share count rose 8.0% over the year, from 583m to 630m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
- Gross margin narrowing Gross margin fell from 38.7% to 30.5%. The company is keeping less of each dollar of sales than it did a year ago.
Last reported
Oct 27, 2026
Results reaction
Oct 27, 2026-3% vs market2 sessions after results
Options
$21.6M28.7% IV · activity
Financials
- Gross 30%
- Net 10%
- Free cash 7%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $8.5B | $16.5B | $22.4B | $17.7B | $21.7B | $33.6B |
| Gross margin | 40% | 26% | 20% | 33% | 39% | 30% |
| Operating income | $1.4B | $2.6B | $2.8B | $4.1B | $5.0B | $5.7B |
| Net income | $612.8M | $1.5B | $1.7B | $2.7B | $3.0B | $3.4B |
| Net margin | 7% | 9% | 8% | 15% | 14% | 10% |
| Earnings per share | $1.42 | $3.35 | $3.84 | $5.48 | $5.17 | $5.42 |
| Free cash flow | -$296.3M | $1.8B | $1.7B | $2.8B | $2.9B | $2.4B |
| Free cash margin | -3% | 11% | 8% | 16% | 13% | 7% |
| Cash | $524.5M | $146.4M | $220.0M | $338.0M | $733.0M | $78.0M |
| Long-term debt | $14.2B | $12.7B | $12.7B | $21.2B | $31.0B | $30.8B |
| Shareholders' equity | $6.0B | $6.0B | $6.5B | $16.5B | $17.0B | $22.5B |
| Shares outstanding | 444.87m | 446.14m | 447.16m | 583.09m | 583.11m | 629.71m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $91 – $103 ±5.9% by Nov 20, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 28.7% priced · 22.4% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- Choppier
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: no change
Positioning
- Premium traded
- $21.6M calls $21.5M · puts $137,720 · latest session
- 0.01× -0.03 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls +691 · puts +745 past week
For options traders: ATM IV 28.7% (-2.5% 1w) · 1m ÷ 3m IV 1.09 · 25Δ skew 1.9 pts · Net GEX $15.8M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 28, 2026 | Quarterly ↗ | Sep 30, 2026 | 28d |
| Aug 4, 2026 | Quarterly ↗ | Jun 30, 2026 | 35d |
| Apr 29, 2026 | Quarterly ↗ | Mar 31, 2026 | 29d |
| Feb 24, 2026 | Annual ↗ | Dec 31, 2025 | 55d |
| Oct 29, 2025 | Quarterly ↗ | Sep 30, 2025 | 29d |
| Aug 5, 2025 | Quarterly ↗ | Jun 30, 2025 | 36d |
| Apr 30, 2025 | Quarterly ↗ | Mar 31, 2025 | 30d |
| Feb 25, 2025 | Annual ↗ | Dec 31, 2024 | 56d |
| Oct 30, 2024 | Quarterly ↗ | Sep 30, 2024 | 30d |
| Aug 6, 2024 | Quarterly ↗ | Jun 30, 2024 | 37d |
| May 1, 2024 | Quarterly ↗ | Mar 31, 2024 | 31d |
| Feb 27, 2024 | Annual ↗ | Dec 31, 2023 | 58d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 27, 2026 | Results · Regulation FD ↗ |
| Sep 15, 2026 | Material agreement · Regulation FD ↗ |
| Aug 31, 2026 | Material agreement · Unregistered share sale · Regulation FD · Other events ↗ |
| Aug 3, 2026 | Acquisition or disposal · Regulation FD ↗ |
| May 21, 2026 | Shareholder vote ↗ |
| Apr 28, 2026 | Results · Regulation FD ↗ |
| Mar 25, 2026 | Director or officer change ↗ |
| Feb 23, 2026 | Results · Regulation FD ↗ |
| Jan 26, 2026 | Director or officer change ↗ |
| Oct 28, 2025 | Results · Regulation FD ↗ |
| Aug 13, 2025 | Material agreement · New obligation ↗ |
| Aug 8, 2025 | Material agreement · Regulation FD ↗ |