Oneok (OKE) Return on Capital Employed (2009 - 2026)
Oneok's (OKE) quarterly Return on Capital Employed came in at 9.98% in Q1 2026, up 111.0% year-on-year from 4.73% in Q1 2025, and up 4.76% quarter-over-quarter from 9.53% in Q4 2025.
Oneok (OKE) Return on Capital Employed (2009 - 2026) Analysis & Trends
Oneok's Return on Capital Employed history runs 18 years deep, the most recent figure standing at 9.98% for Q1 2026.
- On a quarterly basis, Return on Capital Employed rose 111.0% year-over-year to 9.98% in Q1 2026; TTM through Mar 2026 was 9.98%, a 111.0% increase from a year earlier, with the FY2025 full-year figure at 9.73%, down 36.0% from the prior year.
- Return on Capital Employed climbed to 9.98% in Q1 2026 per OKE's latest filing, from 9.53% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 16.38% in Q1 2023 and bottomed at 8.87% in Q1 2025.
- The 5-year median for Return on Capital Employed is 10.2% (2024), against an average of 11.36%.
- Across the five-year window, Return on Capital Employed surged 362 bps in 2023 and slumped 731 bps in 2024, its largest moves.
- Year by year, 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 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 22.21% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 14.37% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 7.68% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 5.26% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 11.93% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | - |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 7.59% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 15.97% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 9.98% |
| 10 | Mplx | 58.39 Bn | 56.89 Bn | 1.95 Bn | 14.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |