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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Oneok (OKE) Operating Margin (2016 - 2025)

Oneok has reported Operating Margin over the past 17 years, most recently at 16.9% for Q4 2025.

  • Quarterly results put Operating Margin at 16.9% for Q4 2025, down 550.0% from a year ago — trailing twelve months through Dec 2025 was 17.07% (down 592.0% YoY), and the annual figure for FY2025 was 17.07%, down 592.0%.
  • Operating Margin for Q4 2025 was 16.9% at Oneok, down from 18.04% in the prior quarter.
  • Over the last five years, Operating Margin for OKE hit a ceiling of 33.11% in Q1 2023 and a floor of 11.49% in Q2 2022.
  • Median Operating Margin over the past 5 years was 18.04% (2021), compared with a mean of 18.4%.
  • Biggest five-year swings in Operating Margin: surged 2471bps in 2021 and later crashed -1086bps in 2024.
  • Oneok's Operating Margin stood at 12.03% in 2021, then grew by 25bps to 15.02% in 2022, then skyrocketed by 40bps to 20.99% in 2023, then increased by 7bps to 22.4% in 2024, then fell by -25bps to 16.9% in 2025.
  • The last three reported values for Operating Margin were 16.9% (Q4 2025), 18.04% (Q3 2025), and 18.14% (Q2 2025) per Business Quant data.