TTM
20.3%
YoY change
−2.49pp
Trough year (2005)
4.2%
Peak year (1985)
100.0%
Latest annual
20.7%
Operating Margin history chart for ONEOK (OKE) from 1985 to 2025
Latest: 20.7%
Operating Margin change chart for ONEOK (OKE) from 1985 to 2025
Latest: −2.49pp
Operating Margin history table for ONEOK (OKE) from 1985 to 2025
| 2025 | 20.7% | -2.49pp | ||
| 2024 | 23.2% | +0.17pp | ||
| 2023 | 23.0% | +9.77pp | ||
| 2022 | 13.3% | -3.25pp | ||
| 2021 | 16.5% | -5.96pp | ||
| 2020 | 22.5% | +4.02pp | ||
| 2019 | 18.5% | +3.68pp | ||
| 2018 | 14.8% | +2.47pp | ||
| 2017 | 12.3% | -1.75pp | ||
| 2016 | 14.1% | +1.12pp | ||
| 2015 | 12.9% | +3.45pp | ||
| 2014 | 9.5% | +0.14pp | ||
| 2013 | 9.3% | +1.06pp | ||
| 2012 | 8.3% | +1.64pp | ||
| 2011 | 6.6% | +0.52pp | ||
| 2010 | 6.1% | +0.14pp | ||
| 2009 | 6.0% | +0.34pp | ||
| 2008 | 5.6% | -0.50pp | ||
| 2007 | 6.1% | -0.22pp | ||
| 2006 | 6.3% | +2.13pp | ||
| 2005 | 4.2% | -3.96pp | ||
| 2004 | 8.2% | -6.69pp | ||
| 2003 | 14.9% | -2.78pp | ||
| 2002 | 17.7% | +13.31pp | ||
| 2001 | 4.3% | -0.69pp | ||
| 2000 | 5.0% | -5.60pp | ||
| 1999 | 10.6% | -0.43pp | ||
| 1998 | 11.1% | +0.02pp | ||
| 1997 | 11.0% | +1.20pp | ||
| 1996 | 9.8% | -1.22pp | ||
| 1995 | 11.1% | -0.49pp | ||
| 1994 | 11.5% | -88.45pp | ||
| 1993 | 100.0% | 0.00pp | ||
| 1992 | 100.0% | 0.00pp | ||
| 1991 | 100.0% | 0.00pp | ||
| 1990 | 100.0% | 0.00pp | ||
| 1989 | 100.0% | 0.00pp | ||
| 1988 | 100.0% | 0.00pp | ||
| 1987 | 100.0% | 0.00pp | ||
| 1986 | 100.0% | 0.00pp | ||
| 1985 | 100.0% | — |
- 202520.7%-2.49pp
- 202423.2%+0.17pp
- 202323.0%+9.77pp
- 202213.3%-3.25pp
- 202116.5%-5.96pp
- 202022.5%+4.02pp
- 201918.5%+3.68pp
- 201814.8%+2.47pp
- 201712.3%-1.75pp
- 201614.1%+1.12pp
- 201512.9%+3.45pp
- 20149.5%+0.14pp
- 20139.3%+1.06pp
- 20128.3%+1.64pp
- 20116.6%+0.52pp
- 20106.1%+0.14pp
- 20096.0%+0.34pp
- 20085.6%-0.50pp
- 20076.1%-0.22pp
- 20066.3%+2.13pp
- 20054.2%-3.96pp
- 20048.2%-6.69pp
- 200314.9%-2.78pp
- 200217.7%+13.31pp
- 20014.3%-0.69pp
- 20005.0%-5.60pp
- 199910.6%-0.43pp
- 199811.1%+0.02pp
- 199711.0%+1.20pp
- 19969.8%-1.22pp
- 199511.1%-0.49pp
- 199411.5%-88.45pp
- 1993100.0%0.00pp
- 1992100.0%0.00pp
- 1991100.0%0.00pp
- 1990100.0%0.00pp
- 1989100.0%0.00pp
- 1988100.0%0.00pp
- 1987100.0%0.00pp
- 1986100.0%0.00pp
- 1985100.0%—
Operating Margin values are taken from ONEOK's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at ONEOK (OKE)
According to ONEOK's latest reported financial statements, the company's latest reported operating margin is 20.3%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, ONEOK (OKE) reported operating margin of 20.72% – contracted 2.5 percentage points year-over-year.
100.00% stands as the all-time-high annual operating margin, posted in 1985, against a low of 4.22% during 2005.
ONEOK Operating Margin by Year
ONEOK Operating Margin 2025: 20.7%
In 2025, ONEOK reported operating margin of 20.72%, contracted 2.5 percentage points from 2024.
ONEOK Operating Margin 2024: 23.2%
ONEOK operating margin in 2024 was 23.20%, expanded 0.2 percentage points from 2023.
ONEOK Operating Margin 2023: 23.0%
2023's operating margin for ONEOK came in at 23.04%, expanded 9.8 percentage points from 2022.
ONEOK Operating Margin 2022: 13.3%
ONEOK posted operating margin of 13.27% in 2022, contracted 3.3 percentage points from 2021.
ONEOK Operating Margin 2021: 16.5%
ONEOK operating margin in 2021 was 16.52%.
See more financial history for ONEOK (OKE).
Sector peers by Operating Margin
Energy peers of ONEOK (OKE), ranked by their latest operating margin
| 38.8% | |
| 18.3% | |
| 15.8% | |
| 14.4% | |
| 9.0% | |
| 8.4% | |
| 5.0% | |
| 4.6% |
- 18.3%
- 15.8%
- 14.4%
- 8.4%
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