ONEOK (OKE) ROIC: History & Chart

Name: ONEOK, Inc. (OKE) Return on Invested Capital (ROIC) — historical time series
Creator: TGMCharts

Compare

ONEOK, Inc.(OKE)

Oil & Gas Midstream · Tulsa, OK

$96.34-1.17 (-1.20%)

Delayed quote: Sep 9, 2026, 10:35 AM EDT

Compare

About ONEOK, Inc.

ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the comprehensive management of natural gas, encompassing gathering, processing, storage, and transportation. These operations are structured into three distinct segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. The company owns an extensive system of natural gas gathering pipelines and processing plants, predominantly situated in the Mid-Continent and Rocky Mountain regions. Furthermore, ONEOK manages both federally (FERC) and state-regulated interstate and intrastate natural gas transmission pipelines, alongside crucial natural gas storage facilities. A significant component of ONEOK's business is dedicated to Natural Gas Liquids. The company handles the entire NGL value chain, from collecting, treating, and fractionating to transporting, storing, marketing, and distributing these products. Its NGL infrastructure includes a broad network of gathering and distribution pipelines across Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado. Additionally, NGL terminal and storage assets are maintained in Kansas, Missouri, Nebraska, Iowa, and Illinois. ONEOK also operates pipelines for NGL distribution and refined petroleum products throughout Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, supported by integrated truck and rail loading and unloading facilities connected to its NGL fractionation, storage, and pipeline network. The company's substantial physical footprint comprises approximately 17,500 miles of natural gas gathering pipelines, 1,500 miles of FERC-regulated interstate natural gas pipelines, and 5,100 miles of state-regulated intrastate transmission pipelines. The NGL segment benefits from six storage facilities and eight product terminals. Separately, ONEOK also owns and leases a parking garage and excess office space in downtown Tulsa, Oklahoma. ONEOK serves a wide and varied customer base throughout the energy sector. This includes integrated and independent exploration and production (E&P) companies, natural gas and NGL gathering and processing enterprises, crude oil and natural gas producers, propane distributors, municipalities, and ethanol producers. The company also supports petrochemical, refining, and NGL marketing firms, as well as natural gas distribution utilities, electric power generation companies, and various other energy producers, processors, and marketers. Founded in 1906, ONEOK, Inc. is headquartered in Tulsa, Oklahoma.

Tulsa, OK

6,326 employees

www.oneok.com

Energy / Oil & Gas Midstream

Sector: Energy
Industry: Oil & Gas Midstream
CEO: Pierce H. Norton

View full financials

OKE Return on Invested Capital (ROIC) Metrics

RETURN ON INVESTED CAPITAL (ROIC)

8.77%

RETURN ON INVESTED CAPITAL (ROIC) AVG TTM

7.99%

RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y

7.41%

RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y

8.77%

RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y

7.66%

RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y

6.88%

RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y

6.64%

CURRENT VS TTM AVG

+9.68%

CURRENT VS 3Y AVG

+18.25%

CURRENT VS 5Y AVG

-0.09%

CURRENT VS 10Y AVG

+14.46%

CURRENT VS 15Y AVG

+27.41%

CURRENT VS 20Y AVG

+31.95%

SECTOR MEDIAN · ENERGY

8.77%

median of 49 covered companies

CURRENT VS SECTOR MEDIAN

-0.04%

vs the sector median at left

NAME	MARKET CAP	RETURN ON INVESTED CAPITAL (ROIC)	TTM	3Y	5Y
ONEOK, Inc. (OKE)	$60.71B	8.77%	7.99%	7.41%	8.77%
MPLX Lp (MPLX)vs ›	$61.16B	13.47%	13.08%	13.59%	11.20%
Occidental Petroleum Corporation (OXY)vs ›	$61.45B	5.87%	4.33%	8.79%	6.29%
Targa Resources Corp. (TRGP)vs ›	$62.80B	14.09%	12.00%	11.71%	11.51%
Baker Hughes Company (BKR)vs ›	$63.81B	9.23%	11.95%	9.10%	6.91%
Diamondback Energy, Inc. (FANG)vs ›	$56.96B	5.88%	5.89%	11.56%	4.63%
TC Energy Corporation (TRP)vs ›	$65.86B	5.18%	4.58%	3.92%	4.55%
Devon Energy Corporation (DVN)vs ›	$53.91B	5.61%	11.22%	17.56%	14.66%
Kinder Morgan, Inc. (KMI)vs ›	$70.50B	5.72%	5.22%	5.08%	4.88%
Energy Transfer LP (ET)vs ›	$74.23B	8.16%	7.33%	7.52%	6.81%

NAME

MARKET CAP

RETURN ON INVESTED CAPITAL (ROIC)

TTM

ONEOK, Inc. (OKE)

$60.71B

8.77%

7.99%

7.41%

8.77%

MPLX Lp (MPLX)vs ›

$61.16B

13.47%

13.08%

13.59%

11.20%

Occidental Petroleum Corporation (OXY)vs ›

$61.45B

5.87%

4.33%

8.79%

6.29%

Targa Resources Corp. (TRGP)vs ›

$62.80B

14.09%

12.00%

11.71%

11.51%

Baker Hughes Company (BKR)vs ›

$63.81B

9.23%

11.95%

9.10%

6.91%

Diamondback Energy, Inc. (FANG)vs ›

$56.96B

5.88%

5.89%

11.56%

4.63%

TC Energy Corporation (TRP)vs ›

$65.86B

5.18%

4.58%

3.92%

4.55%

Devon Energy Corporation (DVN)vs ›

$53.91B

5.61%

11.22%

17.56%

14.66%

Kinder Morgan, Inc. (KMI)vs ›

$70.50B

5.72%

5.22%

5.08%

4.88%

Energy Transfer LP (ET)vs ›

$74.23B

8.16%

7.33%

7.52%

6.81%

Return on Invested Capital (ROIC) Formula & Definition

ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)

Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.

Return on Invested Capital (ROIC) FAQ

What is the return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The return on invested capital (ROIC) for OKE stock is 8.77%.

Is ONEOK, Inc.'s return on invested capital (ROIC) high or low?

The return on invested capital (ROIC) of 8.77% is in line with its 5-year average of 8.77%, around the middle of its 5-year range (6.27%–12.72%).

What is the TTM average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The TTM average return on invested capital (ROIC) for OKE stock is 7.99%.

What is the 3Y average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The 3Y average return on invested capital (ROIC) for OKE stock is 7.41%.

What is the 5Y average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The 5Y average return on invested capital (ROIC) for OKE stock is 8.77%.

What is the 10Y average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The 10Y average return on invested capital (ROIC) for OKE stock is 7.66%.

What is the 15Y average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The 15Y average return on invested capital (ROIC) for OKE stock is 6.88%.

What is the 20Y average return on invested capital (ROIC) for ONEOK, Inc. (OKE)?

The 20Y average return on invested capital (ROIC) for OKE stock is 6.64%.

DATE	RETURN ON INVESTED CAPITAL (ROIC)
2026-06-30	8.77%
2026-03-31	8.65%
2025-12-31	8.62%
2025-09-30	7.12%
2025-06-30	6.81%
2025-03-31	6.57%
2024-12-31	6.27%
2024-09-30	7.28%
2024-06-30	7.84%
2024-03-31	6.73%
2023-12-31	7.57%
2023-09-30	6.74%
2023-06-30	12.25%
2023-03-31	12.72%
2022-12-31	10.52%
2022-09-30	10.47%
2022-06-30	10.46%
2022-03-31	10.15%
2021-12-31	10.11%
2021-09-30	9.67%
2021-06-30	8.95%
2021-03-31	7.76%
2020-12-31	7.05%
2020-09-30	6.51%
2020-06-30	6.26%
2020-03-31	7.03%
2019-12-31	7.22%
2019-09-30	7.16%
2019-06-30	7.93%
2019-03-31	8.27%
2018-12-31	8.92%
2018-09-30	7.67%
2018-06-30	7.01%
2018-03-31	6.39%
2017-12-31	5.51%
2017-09-30	6.63%
2017-06-30	6.58%
2017-03-31	6.71%
2016-12-31	6.73%
2016-09-30	6.08%
2016-06-30	6.00%
2016-03-31	5.75%
2015-12-31	5.08%
2015-09-30	5.66%
2015-06-30	5.55%
2015-03-31	5.52%
2014-12-31	6.69%
2014-09-30	7.33%
2014-06-30	6.98%
2014-03-31	6.75%
2013-12-31	4.63%
2013-09-30	4.67%
2013-06-30	5.26%
2013-03-31	5.87%
2012-12-31	6.14%
2012-09-30	6.66%
2012-06-30	7.54%
2012-03-31	7.28%
2011-12-31	7.66%
2011-09-30	6.97%
2011-06-30	6.55%
2011-03-31	6.16%
2010-12-31	6.42%
2010-09-30	6.71%
2010-06-30	6.35%
2010-03-12	6.24%
2009-12-31	5.91%
2009-09-30	5.49%
2009-07-23	5.56%
2009-03-31	5.39%
2008-12-31	4.98%
2008-09-30	5.99%
2008-06-30	5.71%
2008-03-31	5.90%
2007-12-31	5.81%
2007-09-30	5.10%
2007-06-30	5.83%
2007-03-31	5.80%
2006-12-31	5.71%
2006-09-30	5.82%
2006-06-30	5.75%
2006-03-31	5.02%
2005-12-31	5.28%
2005-09-30	5.24%
2005-06-30	6.26%
2005-03-31	6.25%
2004-12-31	5.71%
2004-09-30	5.61%
2004-06-30	5.46%
2004-03-31	5.60%
2003-12-31	5.78%
2003-09-30	5.58%
2003-06-30	6.24%

DATE

RETURN ON INVESTED CAPITAL (ROIC)

2026-06-30

8.77%

2026-03-31

8.65%

2025-12-31

8.62%

2025-09-30

7.12%

2025-06-30

6.81%

2025-03-31

6.57%

2024-12-31

6.27%

2024-09-30

7.28%

2024-06-30

7.84%

2024-03-31

6.73%

2023-12-31

7.57%

2023-09-30

6.74%

2023-06-30

12.25%

2023-03-31

12.72%

2022-12-31

10.52%

2022-09-30

10.47%

2022-06-30

10.46%

2022-03-31

10.15%

2021-12-31

10.11%

2021-09-30

9.67%

2021-06-30

8.95%

2021-03-31

7.76%

2020-12-31

7.05%

2020-09-30

6.51%

2020-06-30

6.26%

2020-03-31

7.03%

2019-12-31

7.22%

2019-09-30

7.16%

2019-06-30

7.93%

2019-03-31

8.27%

2018-12-31

8.92%

2018-09-30

7.67%

2018-06-30

7.01%

2018-03-31

6.39%

2017-12-31

5.51%

2017-09-30

6.63%

2017-06-30

6.58%

2017-03-31

6.71%

2016-12-31

6.73%

2016-09-30

6.08%

2016-06-30

6.00%

2016-03-31

5.75%

2015-12-31

5.08%

2015-09-30

5.66%

2015-06-30

5.55%

2015-03-31

5.52%

2014-12-31

6.69%

2014-09-30

7.33%

2014-06-30

6.98%

2014-03-31

6.75%

2013-12-31

4.63%

2013-09-30

4.67%

2013-06-30

5.26%

2013-03-31

5.87%

2012-12-31

6.14%

2012-09-30

6.66%

2012-06-30

7.54%

2012-03-31

7.28%

2011-12-31

7.66%

2011-09-30

6.97%

2011-06-30

6.55%

2011-03-31

6.16%

2010-12-31

6.42%

2010-09-30

6.71%

2010-06-30

6.35%

2010-03-12

6.24%

2009-12-31

5.91%

2009-09-30

5.49%

2009-07-23

5.56%

2009-03-31

5.39%

2008-12-31

4.98%

2008-09-30

5.99%

2008-06-30

5.71%

2008-03-31

5.90%

2007-12-31

5.81%

2007-09-30

5.10%

2007-06-30

5.83%

2007-03-31

5.80%

2006-12-31

5.71%

2006-09-30

5.82%

2006-06-30

5.75%

2006-03-31

5.02%

2005-12-31

5.28%

2005-09-30

5.24%

2005-06-30

6.26%

2005-03-31

6.25%

2004-12-31

5.71%

2004-09-30

5.61%

2004-06-30

5.46%

2004-03-31

5.60%

2003-12-31

5.78%

2003-09-30

5.58%

2003-06-30

6.24%

Return on Invested Capital (ROIC): 8.77%

OKE Return on Invested Capital (ROIC)

OKE Average Return on Invested Capital (ROIC) Chart

OKE Current vs Average Return on Invested Capital (ROIC) Chart

OKE Return on Invested Capital (ROIC) Metrics

OKE Competitors' Return on Invested Capital (ROIC)

Capital Efficiency

Return on Invested Capital (ROIC) Formula & Definition

Return on Invested Capital (ROIC) FAQ

OKE Return on Invested Capital (ROIC) History

Related Metrics