Oneok (OKE) Cost of Revenue (2009 - 2026)
Oneok (OKE) posted Cost of Revenue of $9.24 billion for Q2 2026, up 72.4% from $5.36 billion a year earlier and up 31.0% from the prior quarter.
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Analysis
Oneok (OKE) Cost of Revenue (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Oneok was $28.65 billion, up 54.6% year-over-year; for FY2025, it was $23.37 billion, up 75.6% from FY2024.
- Annual Cost of Revenue shows a five-year compound annual growth rate of 35.5% (FY2020 to FY2025).
- In prior years, Oneok's Cost of Revenue was $13.31 billion in FY2024 (+11.6%), $11.93 billion in FY2023 (-33.4%), $17.91 billion in FY2022 (+46.1%) and $12.26 billion in FY2021 (+139.9%).
- The Q2 2026 figure stands as the highest quarterly Cost of Revenue in data going back to Q1 2009.
- On a year-over-year basis, Cost of Revenue has increased in each of the last nine quarters, with growth averaging 57.7% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was Q3 2021, with growth of 172.5%; the weakest was Q2 2023, with a decline of 49.1%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $7.05 billion (Q1 2026), $6.4 billion (Q4 2025) and $5.96 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 100.40 Bn | 97.94 Bn | 4.84 Bn | 16.35 Bn |
| 2 | Williams Companies | 86.28 Bn | 85.00 Bn | 2.54 Bn | 515.00 Mn |
| 3 | Enterprise Products Partners | 78.15 Bn | 76.58 Bn | - | - |
| 4 | Energy Transfer | 70.55 Bn | 63.99 Bn | 7.40 Bn | 26.94 Bn |
| 5 | Kinder Morgan | 69.13 Bn | 70.08 Bn | 3.07 Bn | 1.41 Bn |
| 6 | Tc Energy | 61.50 Bn | 64.57 Bn | 2.81 Bn | 52.77 Mn |
| 7 | Targa Resources | 60.39 Bn | 60.01 Bn | 2.14 Bn | 2.30 Bn |
| 8 | Mplx | 57.19 Bn | 50.75 Bn | 2.91 Bn | 405.00 Mn |
| 9 | Cheniere Energy | 55.74 Bn | 55.87 Bn | 5.29 Bn | 439.00 Mn |
| 10 | Oneok | 55.40 Bn | 53.89 Bn | 2.81 Bn | 9.24 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.24 Bn |
| Mar 31, 2026 | 7.05 Bn |
| Dec 31, 2025 | 6.40 Bn |
| Sep 30, 2025 | 5.96 Bn |
| Jun 30, 2025 | 5.36 Bn |
| Mar 31, 2025 | 5.66 Bn |
| Dec 31, 2024 | 4.50 Bn |
| Sep 30, 2024 | 3.03 Bn |
| Jun 30, 2024 | 2.89 Bn |
| Mar 31, 2024 | 2.90 Bn |
| Dec 31, 2023 | 3.30 Bn |
| Sep 30, 2023 | 2.80 Bn |
| Jun 30, 2023 | 2.48 Bn |
| Mar 31, 2023 | 3.35 Bn |
| Dec 31, 2022 | 3.89 Bn |
| Sep 30, 2022 | 4.77 Bn |
| Jun 30, 2022 | 4.88 Bn |
| Mar 31, 2022 | 4.37 Bn |
| Dec 31, 2021 | 4.32 Bn |
| Sep 30, 2021 | 3.45 Bn |
API Access
Oneok Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=OKE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "OKE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=OKE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();