OneokOKEEarnings & Financial Report
Oneok, Inc. ONE-oak, stylized as ONEOK, is an American oil and gas midstream operator headquartered in Tulsa, Oklahoma. It provides the oil and gas industry with gathering, processing, fractionation, transportation, and storage services. The company is part of the Fortune 500 and S&P 500. Oneok was founded as Oklahoma Natural Gas Company in 1906, but it changed its corporate name to Oneok in 1980.
OKE Q4 FY2025 Key Financial Metrics
Revenue
$9.1B
Gross Profit
$2.7B
Operating Profit
$1.5B
Net Profit
$977.0M
Gross Margin
29.4%
Operating Margin
16.9%
Net Margin
10.8%
YoY Growth
29.5%
EPS
$1.55
Oneok Q4 FY2025 Financial Summary
Oneok reported revenue of $9.1B (up 29.5% YoY) for Q4 FY2025, with a net profit of $977.0M (up 5.9% YoY) (10.8% margin). Cost of goods sold was $6.4B, operating expenses totaled $1.1B.
Key Financial Metrics
| Total Revenue | $9.1B |
|---|---|
| Net Profit | $977.0M |
| Gross Margin | 29.4% |
| Operating Margin | 16.9% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Oneok Q4 FY2025 revenue of $9.1B breaks down across 8 segments, led by Natural Gas Liquids at $4.0B (43.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Natural Gas Liquids | $4.0B | 43.9% |
| Natural Gas Gathering And Processing | $1.8B | 19.8% |
| Services | $1.2B | 13.7% |
| Liquids Commodity | $979.0M | 10.8% |
| Wholly Owned Interstate Natural Gas Pipelines | $527.0M | 5.8% |
| Exchange Services And Natural Gas Gathering And Processing Revenue | $365.0M | 4.0% |
| Transportationand Storage Revenue | $108.0M | 1.2% |
| Other | $12.0M | 0.1% |
Oneok Revenue by Segment — Quarterly Trend
Oneok revenue by segment across the last 4 reported quarters, showing how each business line (such as Natural Gas Liquids and Natural Gas Gathering And Processing) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Natural Gas Liquids | $4.0B | — | $3.9B | $4.3B |
| Natural Gas Gathering And Processing | $1.8B | — | — | — |
| Services | $1.2B | $1.2B | $1.2B | $1.1B |
| Liquids Commodity | $979.0M | $1.1B | $1.1B | $1.2B |
| Wholly Owned Interstate Natural Gas Pipelines | $527.0M | $450.0M | $405.0M | $464.0M |
Oneok Annual Revenue by Year
Oneok annual revenue history includes year-by-year totals (for example, 2025 revenue was $33.6B).
Oneok Quarterly Revenue & Net Profit History
Oneok results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $9.1B | +29.5% | $977.0M | 10.8% |
| Q3 FY2025 | $8.6B | +71.9% | $939.0M | 10.9% |
| Q2 FY2025 | $7.9B | +61.2% | $841.0M | 10.7% |
| Q1 FY2025 | $8.0B | +68.2% | $636.0M | 7.9% |
| Q4 FY2024 | $7.0B | +33.7% | $923.0M | 13.2% |
| Q3 FY2024 | $5.0B | +19.9% | $693.0M | 13.8% |
| Q2 FY2024 | $4.9B | +31.1% | $780.0M | 15.9% |
| Q1 FY2024 | $4.8B | +5.8% | $639.0M | 13.4% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.78B | $4.89B | $5.02B | $7.00B | $8.04B | $7.89B | $8.63B | $9.06B |
| YoY Growth | 5.8% | 31.1% | 19.9% | 33.7% | 68.2% | 61.2% | 71.9% | 29.5% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $44.39B | $44.53B | $51.05B | $64.07B | $64.26B | $64.52B | $66.62B | $66.64B |
| Liabilities | $27.95B | $27.83B | $34.16B | $47.03B | $42.90B | $42.69B | $44.53B | $44.16B |
| Equity | $16.45B | $16.71B | $16.89B | $17.04B | $21.36B | $21.83B | $22.08B | $22.48B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $596.0M | $1.43B | $1.25B | $1.61B | $904.0M | $1.52B | $1.62B | $1.55B |