ONEOK, Inc. (OKE)

FairStock Score: 65/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach ONEOK as an asset-heavy midstream business: it gathers, processes, fractionates, stores, and transports natural gas, natural gas liquids, and refined products across four segments. In midstream, the durable advantage should come from hard-to-replicate pipelines, plants, and regional positions. ONEOK has scale and 6,326 employees, but the supplied figures do not let me verify pricing power; I can only judge the numbers. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $12.0B, net income $966.0M, and diluted EPS $1.53, versus $7.9B, $841.0M, and $1.34 in fiscal Q2 2025. FY2025 revenue was $33.6B, net income $3.4B, and diluted EPS $5.42; FY2024 was $21.7B, $3.0B, and $5.17. Growth is real, but EPS has not compounded smoothly from FY2023's $5.48. At the 2026-10-26 close of $96.36, FairStock's P/E is 16.64, P/B 2.65, PEG 1.11, EV/EBITDA 11.54, and FCF yield 4.8%. The Graham Number is $68.85, so the price sits 39.19% above that conservative anchor. ROE is 16.28%, but ROCE is only 5.77%, and D/E is 1.43; Altman Z 1.07 suggests thin safety. Piotroski 7/9 and a 4.58% dividend yield are supportive. FairStock calls it a FAST GROWER on its five-year profit and revenue screen, but I see a fair-to-full price and limited Graham margin of safety.

In plain English: ONEOK moves and processes natural gas and other energy products through pipelines and plants. The business looks reasonably strong because revenue and profit grew in the latest filed quarter, it generates cash, and it pays a dividend. But the stock at $96.36 looks fair to expensive on conservative value measures, especially because the company uses a lot of debt.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer