Oneok (OKE) Return on Capital Employed (2009 - 2026)

Oneok (OKE) posted Return on Capital Employed of 9.98% for Q1 2026, up 4.76% on a QoQ basis from 9.53% in Q4 2025, and up 111.0% year-on-year from 4.73% in Q1 2025.

Oneok (OKE) Return on Capital Employed (2009 - 2026) Analysis & Trends

Oneok has disclosed Return on Capital Employed across 18 years of filings, most recently posting 9.98% for Q1 2026.

  • Return on Capital Employed for Q1 2026 came in at 9.98%, up 111.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 9.98% (up 111.0% YoY), and the FY2025 annual result was 9.73%, down 36.0% from the prior year.
  • Return on Capital Employed came in at 9.98% for Q1 2026 at Oneok, up from 9.53% in the prior quarter.
  • Over the last five years, Return on Capital Employed for OKE reached as high as 16.38% in Q1 2023 and fell as low as 8.87% in Q1 2025.
  • Median Return on Capital Employed over the past 5 years was 10.2% (2024), compared with a mean of 11.36%.
  • Year-over-year, Return on Capital Employed jumped 362 bps in 2023 and sank 731 bps in 2024.
  • Over 5 years, Return on Capital Employed stood at 13.14% in 2022, then fell by 24 bps to 10.02% in 2023, then retreated by 6 bps to 9.44% in 2024, then advanced by 1 bps to 9.53% in 2025, then rose by 5 bps to 9.98% in 2026.
  • Per Business Quant, the three latest OKE Return on Capital Employed figures stand at 9.98% (Q1 2026), 9.53% (Q4 2025), and 9.65% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 Enbridge 1,308.38 Bn 1,309.08 Bn 6.70 Bn 5.26%
2 Kinder Morgan 112.34 Bn 113.42 Bn 3.08 Bn 7.42%
3 Enterprise Products Partners 79.55 Bn 78.40 Bn - 11.93%
4 Energy Transfer 65.78 Bn 65.07 Bn 6.62 Bn 7.59%
5 Targa Resources 57.60 Bn 57.63 Bn 1.70 Bn 3.63%
6 Mplx 57.17 Bn 55.67 Bn 2.54 Bn 14.56%
7 Oneok 54.83 Bn 54.70 Bn 2.57 Bn 9.98%
8 Cheniere Energy Partners 29.50 Bn 29.22 Bn 838.00 Mn 22.68%
9 Venture Global 27.41 Bn 27.36 Bn 4.33 Bn 10.22%
10 Plains All American Pipeline 15.72 Bn 15.54 Bn 977.00 Mn 6.09%

Historic Data

Download Data
DateValue
Mar 31, 2026 9.98%
Dec 31, 2025 9.53%
Sep 30, 2025 9.65%
Jun 30, 2025 9.26%
Mar 31, 2025 8.87%
Dec 31, 2024 9.44%
Sep 30, 2024 10.22%
Jun 30, 2024 10.20%
Mar 31, 2024 9.07%
Dec 31, 2023 10.02%
Sep 30, 2023 12.15%
Jun 30, 2023 16.23%
Mar 31, 2023 16.38%
Dec 31, 2022 13.14%
Sep 30, 2022 13.29%
Jun 30, 2022 12.96%
Mar 31, 2022 12.76%
Dec 31, 2021 12.62%
Sep 30, 2021 11.91%
Jun 30, 2021 11.31%