Oneok (OKE) EBITDA Margin (2009 - 2026)
Oneok (OKE) posted EBITDA Margin of 14.85% for Q1 2026, down 12.15% on a QoQ basis from 16.9% in Q4 2025, and down 32.0% year-on-year from 21.83% in Q1 2025.
Oneok (OKE) EBITDA Margin (2009 - 2026) Analysis & Trends
Oneok has disclosed EBITDA Margin across 18 years of filings, most recently posting 14.85% for Q1 2026.
- EBITDA Margin for Q1 2026 came in at 14.85%, down 32.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 16.9% (down 371.0% YoY), and the FY2025 annual result was 21.23%, down 683.0% from the prior year.
- EBITDA Margin came in at 14.85% for Q1 2026 at Oneok, down from 16.9% in the prior quarter.
- Over the last five years, EBITDA Margin for OKE reached as high as 33.11% in Q1 2023 and fell as low as 11.49% in Q2 2022.
- Median EBITDA Margin over the past 5 years was 18.04% (2025), compared with a mean of 18.67%.
- Year-over-year, EBITDA Margin soared 2095 bps in 2023 and slumped 1086 bps in 2024.
- Over 5 years, EBITDA Margin stood at 15.02% in 2022, then soared by 40 bps to 20.99% in 2023, then gained by 7 bps to 22.4% in 2024, then declined by 25 bps to 16.9% in 2025, then declined by 12 bps to 14.85% in 2026.
- Per Business Quant, the three latest OKE EBITDA Margin figures stand at 14.85% (Q1 2026), 16.9% (Q4 2025), and 18.04% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 28.57% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 50.33% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 14.83% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 30.44% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 3.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 14.85% |
| Dec 31, 2025 | 16.90% |
| Sep 30, 2025 | 18.04% |
| Jun 30, 2025 | 18.14% |
| Mar 31, 2025 | 15.17% |
| Dec 31, 2024 | 22.40% |
| Sep 30, 2024 | 22.46% |
| Jun 30, 2024 | 25.11% |
| Mar 31, 2024 | 22.25% |
| Dec 31, 2023 | 20.99% |
| Sep 30, 2023 | 17.64% |
| Jun 30, 2023 | 19.75% |
| Mar 31, 2023 | 33.11% |
| Dec 31, 2022 | 15.02% |
| Sep 30, 2022 | 11.84% |
| Jun 30, 2022 | 11.49% |
| Mar 31, 2022 | 12.16% |
| Dec 31, 2021 | 12.03% |
| Sep 30, 2021 | 14.72% |
| Jun 30, 2021 | 18.04% |