Question 1

What is ONEOK's P/E ratio?

Accepted Answer

ONEOK (OKE) P/E ratio is 15.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for ONEOK?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For ONEOK specifically, the relevant sector benchmark is the current sector median of 17.9×.

Question 5

Is ONEOK's P/E ratio high or low?

Accepted Answer

ONEOK's P/E ratio of 15.8× is below its own 5-year average of 16.5× and below the sector median of 17.9×. That places the current reading at the 30th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is ONEOK's historical P/E ratio range?

Accepted Answer

In the available daily series, ONEOK (OKE) P/E ratio has ranged from a low of 4.6× in 2005 to a high of 54.0× in 2017. The 5-year average is 16.5× and the 5-year median is 16.8×.

Question 7

What was ONEOK's P/E ratio in 2025?

Accepted Answer

ONEOK (OKE) P/E ratio at the end of 2025 was 13.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does ONEOK's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$46.30B	$3.40B	13.6×	-5.8×	Dec 31, 2025
2024	$58.88B	$3.04B	19.4×	+4.0×	Dec 31, 2024
2023	$40.97B	$2.66B	15.4×	-1.7×	Dec 31, 2023
2022	$29.42B	$1.72B	17.1×	-0.4×	Dec 31, 2022
2021	$26.24B	$1.50B	17.5×	-10.4×	Dec 31, 2021
2020	$17.08B	$611.98M	27.9×	+3.4×	Dec 31, 2020
2019	$31.32B	$1.28B	24.5×	+5.2×	Dec 31, 2019
2018	$22.21B	$1.15B	19.3×	-34.7×	Dec 31, 2018
2017	$20.90B	$387.07M	54.0×	+19.5×	Dec 31, 2017
2016	$12.14B	$352.04M	34.5×	+13.3×	Dec 31, 2016
2015	$5.19B	$244.98M	21.2×	-12.0×	Dec 31, 2015
2014	$10.43B	$314.11M	33.2×	-8.9×	Dec 31, 2014
2013	$11.23B	$266.53M	42.1×	+20.9×	Dec 31, 2013
2012	$7.66B	$360.62M	21.2×	-0.4×	Dec 31, 2012
2011	$7.82B	$360.59M	21.7×	+6.2×	Dec 31, 2011
2010	$5.17B	$334.63M	15.4×	+4.8×	Dec 31, 2010
2009	$4.11B	$386.39M	10.6×	+2.1×	Dec 31, 2009
2008	$2.67B	$311.91M	8.5×	-4.8×	Dec 31, 2008
2007	$4.07B	$304.92M	13.3×	-0.3×	Dec 31, 2007
2006	$4.16B	$306.31M	13.6×	+9.0×	Dec 31, 2006
2005	$2.50B	$538.46M	4.6×	-6.0×	Dec 31, 2005
2004	$2.57B	$242.18M	10.6×	-7.2×	Dec 31, 2004
2003	$1.92B	$107.44M	17.8×	+8.3×	Dec 31, 2003
2002	$1.41B	$148.07M	9.5×	-7.4×	Dec 31, 2002
2001	$1.56B	$92.29M	16.9×	—	Dec 31, 2001


Chevron (CVX)	37.2×
Enphase Energy (ENPH)	36.8×
Williams Companies (WMB)	31.4×
Exxon Mobil (XOM)	28.0×
Targa Resources (TRGP)	25.4×
SLB (SLB)	23.3×
Kinder Morgan (KMI)	22.5×
ConocoPhillips (COP)	22.1×
Enbridge (ENB)	21.6×
Halliburton (HAL)	21.2×
Baker Hughes (BKR)	19.4×
NACCO Industries (NC)	18.1×
Phillips 66 (PSX)	17.8×
Valero Energy (VLO)	17.5×
Marathon Petroleum (MPC)	15.6×
EOG Resources (EOG)	14.0×
Devon Energy (DVN)	13.8×
Energy Transfer LP (ET)	13.7×
Occidental Petroleum (OXY)	13.5×
National Fuel Gas (NFG)	13.0×
First Solar (FSLR)	12.7×
EQT (EQT)	11.9×
APA (APA)	9.8×
Expand Energy (EXE)	8.2×
Sunrun (RUN)	5.6×

P/E Ratio for ONEOK (OKE)

P/E Ratio daily chart for ONEOK (OKE)

Historical P/E Ratio for ONEOK (OKE) from 2001 to 2025

About P/E Ratio at ONEOK (OKE)

ONEOK P/E Ratio by Year

ONEOK P/E Ratio 2025: 13.6×

ONEOK P/E Ratio 2024: 19.4×

ONEOK P/E Ratio 2023: 15.4×

ONEOK P/E Ratio 2022: 17.1×

ONEOK P/E Ratio 2021: 17.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

ONEOK (OKE) Key Financials

P/E Ratio daily chart for ONEOK (OKE)

Historical P/E Ratio for ONEOK (OKE) from 2001 to 2025

About P/E Ratio at ONEOK (OKE)

ONEOK P/E Ratio by Year

ONEOK P/E Ratio 2025: 13.6×

ONEOK P/E Ratio 2024: 19.4×

ONEOK P/E Ratio 2023: 15.4×

ONEOK P/E Ratio 2022: 17.1×

ONEOK P/E Ratio 2021: 17.5×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is ONEOK's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for ONEOK?

+Is ONEOK's P/E ratio high or low?

+What is ONEOK's historical P/E ratio range?

+What was ONEOK's P/E ratio in 2025?

+Why does ONEOK's P/E ratio change over time?

ONEOK (OKE) Key Financials