ONEOK, Inc. (OKE) Income Statement
OKE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOKE revenue and net income
Where OKE's revenue goes
2025Each bar shows an amount and its share of revenue. OKE kept 10.1% of revenue as net income.
OKE profit margins
OKE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +55.4% | +13.7% | +31.8% | +15.9% |
| Gross profit | +42.9% | +32.3% | +28.9% | +20.9% |
| Operating income | +38.8% | +31.9% | +29.7% | +21.5% |
| Net income | +11.9% | +25.4% | +40.8% | +30.1% |
| EPS (diluted) | +4.8% | +12.3% | +31.7% | +16.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OKE quarterly EPS vs estimates
ONEOK beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 27, 2026 (estimate $1.46).
OKE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.63B | $21.64B | $17.68B | $22.87B | $17.27B | $8.46B | $10.11B | $12.62B | $12.24B | $8.89B |
| Cost of revenue | $26.41B | $16.59B | $11.93B | $19.75B | $14.25B | $6.43B | $8.13B | $10.65B | $10.64B | $7.56B |
| Gross profit | $7.22B | $5.05B | $5.75B | $3.12B | $3.02B | $2.03B | $1.99B | $1.97B | $1.60B | $1.34B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | — | — | — | $17.7M | $17.2M | $982.9M | $907.1M | $833.6M | $757.2M |
| Total operating expenses | $251.0M | $29.0M | $1.68B | $85.2M | $166.7M | $125.0M | $119.2M | $103.9M | $98.4M | $88.8M |
| Operating income | $6.97B | $5.02B | $4.07B | $3.03B | $2.85B | $1.90B | $1.87B | $1.86B | $1.51B | $1.25B |
| Interest income | $1.40B | $932.0M | $664.0M | $528.2M | $610.4M | $569.6M | $337.2M | $311.2M | $326.4M | $330.0M |
| Interest expense | $1.78B | $1.35B | $845.0M | $641.7M | $693.0M | $619.2M | $468.5M | $451.3M | $464.6M | $450.4M |
| Income before taxes | $4.49B | $4.11B | $3.50B | $2.25B | $1.98B | $802.3M | $1.65B | $1.52B | $1.04B | $958.0M |
| Income taxes | $1.03B | $998.0M | $838.0M | $527.4M | $484.5M | $189.5M | $372.4M | $362.9M | $447.3M | $212.4M |
| Net income | $3.40B | $3.04B | $2.66B | $1.72B | $1.50B | $612.8M | $1.28B | $1.15B | $387.8M | $352.0M |
| EBITDA | $7.79B | $6.59B | $5.11B | $3.52B | $3.30B | $2.00B | $2.60B | $2.40B | $1.91B | $1.80B |
| EPS (diluted) | $5.42 | $5.17 | $5.55 | $3.83 | $3.36 | $1.37 | $3.07 | $2.77 | $1.73 | $1.68 |
| Gross margin | 21.5% | 23.3% | 32.5% | 13.6% | 17.5% | 24.0% | 19.6% | 15.6% | 13.1% | 15.1% |
| Operating margin | 20.7% | 23.2% | 23.0% | 13.3% | 16.5% | 22.5% | 18.5% | 14.8% | 12.3% | 14.1% |
| Net margin | 10.1% | 14.0% | 15.0% | 7.5% | 8.7% | 7.2% | 12.6% | 9.1% | 3.2% | 4.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.05B | $9.62B | $9.06B | $8.63B | $7.89B | $8.04B | $7.00B | $5.02B | $4.89B | $4.78B | $5.18B | $4.16B |
| Cost of revenue | $10.34B | $7.05B | $6.40B | $6.98B | $6.35B | $6.69B | $4.84B | $3.81B | $3.64B | $3.64B | $3.88B | $3.30B |
| Gross profit | $1.71B | $2.56B | $2.67B | $1.66B | $1.54B | $1.35B | $2.16B | $1.21B | $1.25B | $1.14B | $1.30B | $859.0M |
| Sales, general & admin | — | $634.0M | — | — | — | — | — | — | — | — | — | — |
| Total operating expenses | $112.0M | $1.14B | −$25.0M | $97.0M | $88.0M | $91.0M | $592.0M | $72.0M | $22.0M | $80.0M | $64.0M | $43.0M |
| Operating income | $1.59B | $1.43B | $2.69B | $1.56B | $1.45B | $1.26B | $1.57B | $1.14B | $1.23B | $1.06B | $1.24B | $816.0M |
| Interest income | — | — | $348.0M | $358.0M | $357.0M | $334.0M | $265.0M | $233.0M | — | — | — | $166.0M |
| Interest expense | $434.0M | $439.0M | $453.0M | $450.0M | $438.0M | $442.0M | $448.0M | $325.0M | $298.0M | $300.0M | $300.0M | $210.0M |
| Income before taxes | $1.27B | $1.02B | $1.25B | $1.24B | $1.11B | $888.0M | $1.33B | $912.0M | $1.02B | $847.0M | $910.0M | $595.0M |
| Income taxes | $299.0M | $245.0M | $274.0M | $297.0M | $260.0M | $197.0M | $328.0M | $219.0M | $243.0M | $208.0M | $222.0M | $141.0M |
| Net income | $966.0M | $774.0M | $979.0M | $939.0M | $841.0M | $636.0M | $923.0M | $693.0M | $780.0M | $639.0M | $688.0M | $454.0M |
| EBITDA | $1.98B | $1.77B | $2.09B | $2.06B | $1.92B | $1.71B | $2.12B | $1.51B | $1.58B | $1.40B | $1.47B | $982.0M |
| EPS (diluted) | $1.53 | $1.30 | $1.55 | $1.49 | $1.34 | $1.04 | $1.57 | $1.18 | $1.33 | $1.09 | $1.18 | $0.99 |
| Gross margin | 14.2% | 26.7% | 29.4% | 19.2% | 19.5% | 16.8% | 30.9% | 24.1% | 25.6% | 23.9% | 25.2% | 20.7% |
| Operating margin | 13.2% | 14.8% | 29.7% | 18.0% | 18.4% | 15.7% | 22.4% | 22.7% | 25.1% | 22.3% | 23.9% | 19.6% |
| Net margin | 8.0% | 8.0% | 10.8% | 10.9% | 10.7% | 7.9% | 13.2% | 13.8% | 15.9% | 13.4% | 13.3% | 10.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OKE's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OKE financial results
In fiscal year 2025 (ended December 31, 2025), ONEOK reported revenue of $33.6 billion, up 55.4% from the year before. It had net income of $3.4 billion (up 11.9%), a net profit margin of 10.1%. Diluted earnings per share came to $5.42. Over five years revenue grew at an average rate of 31.8% a year.
See the OKE stock overview for the latest quote and news, or the OKE chart for price history and technical indicators.
OKE income statement FAQ
What is ONEOK's annual revenue?
ONEOK reported total revenue of $33.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 55.4% from $21.6 billion the previous year.
Is ONEOK profitable?
Yes. ONEOK reported net income of $3.4 billion in fiscal 2025, a net profit margin of 10.1%; its operating margin was 20.7%.
What is ONEOK's gross margin?
ONEOK's gross margin was 21.5% in fiscal 2025: for every $100 of revenue, ONEOK kept $21 after the direct cost of its products and services.
How fast is ONEOK growing?
Revenue grew 31.8% a year on average over the last five fiscal years, from $8.5 billion to $33.6 billion.
What are ONEOK's earnings per share?
ONEOK earned $5.42 per diluted share in fiscal 2025, compared with $5.17 a year earlier.
When will ONEOK report its next earnings?
ONEOK is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does ONEOK's fiscal year end?
ONEOK's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.