Oneok (OKE) Return on Capital Employed [ROCE] (2009 - 2026)
Oneok's Return on Capital Employed [ROCE] was 9.99% in Q2 2026, up 0.73 percentage points from 9.26% a year earlier and up 0.01 percentage points from the prior quarter.
Powered by 
Analysis
Oneok (OKE) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Oneok came in at 9.73%, down 0.36 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now declined for three consecutive years, though with a five-year change of +3.28 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 10.09% in FY2024 (-3.10 pp), 13.19% in FY2023 (-0.21 pp), 13.40% in FY2022 (+0.53 pp) and 12.87% in FY2021 (+6.42 pp).
- The Q2 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] since Q3 2024.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for three straight quarters, with an average year-over-year change of -0.29 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q4 2021 (a gain of 6.32 percentage points); the worst was Q1 2024 (a drop of 7.31 percentage points).
- Per Business Quant data, OKE's Return on Capital Employed [ROCE] in the three quarters before Q2 2026 was 9.98% (Q1 2026), 9.53% (Q4 2025) and 9.65% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 105.02 Bn | 100.62 Bn | 4.84 Bn | 5.52% |
| 2 | Williams Companies | 87.96 Bn | 86.67 Bn | 2.54 Bn | 8.70% |
| 3 | Enterprise Products Partners | 80.56 Bn | 78.95 Bn | - | 12.27% |
| 4 | Kinder Morgan | 76.97 Bn | 76.68 Bn | 3.07 Bn | 7.68% |
| 5 | Energy Transfer | 70.17 Bn | 63.35 Bn | 7.40 Bn | 8.43% |
| 6 | Targa Resources | 64.80 Bn | 64.28 Bn | 2.14 Bn | 15.72% |
| 7 | Tc Energy | 64.75 Bn | 60.83 Bn | 2.81 Bn | - |
| 8 | Cheniere Energy | 62.15 Bn | 56.98 Bn | 5.29 Bn | 15.05% |
| 9 | Oneok | 60.72 Bn | 59.11 Bn | 2.81 Bn | 9.99% |
| 10 | Mplx | 60.01 Bn | 53.57 Bn | 2.91 Bn | 14.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.99% |
| 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% |
API Access
Oneok Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=OKE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=OKE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();