Stock Analysis on Net
Stock Analysis on Net

ONEOK Inc. (NYSE:OKE)

This company has been moved to the archive! The financial data has not been updated since August 8, 2023.

Analysis of Revenues 

Microsoft Excel

Revenues as Reported

ONEOK Inc., income statement, revenues

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
NGL and condensate sales 18,260,082 13,569,697 6,477,869 7,944,787 10,301,496
Residue natural gas sales 2,704,953 1,599,393 769,319 965,975 1,091,102
Gathering, processing and exchange services revenue 690,928 653,259 630,517 578,537 568,070
Transportation and storage revenue 710,524 656,996 638,413 648,103 583,426
Other 20,405 60,964 26,124 26,965 49,102
Revenues 22,386,892 16,540,309 8,542,242 10,164,367 12,593,196

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Overall Revenue Trends
The total revenues show a significant fluctuation between 2018 and 2022. After a decline from approximately 12.6 billion USD in 2018 to 8.5 billion USD in 2020, revenues rebounded markedly to reach nearly 22.4 billion USD by 2022. The steep rise post-2020 indicates strong recovery and growth.
NGL and Condensate Sales
Sales related to NGL and condensate experienced a notable decline from about 10.3 billion USD in 2018 to approximately 6.5 billion USD in 2020. This category then sharply increased, more than doubling from 2020 onwards, peaking at over 18.2 billion USD in 2022. This pattern suggests a significant resurgence in market demand or pricing for these products.
Residue Natural Gas Sales
Residue natural gas sales followed a similar trajectory, with a decrease from roughly 1.1 billion USD in 2018 to 769 million USD in 2020, followed by a substantial increase to approximately 2.7 billion USD by 2022. The data reflects a strong uptrend in this segment, particularly after 2020.
Gathering, Processing and Exchange Services Revenue
This segment exhibited steady growth over the five-year period. Revenues rose consistently from about 568 million USD in 2018 to nearly 691 million USD in 2022. The gradual increase denotes stable demand and possibly improved operational efficiencies in services offered.
Transportation and Storage Revenue
The transportation and storage revenue demonstrated minor fluctuations but generally increased from 583 million USD in 2018 to over 710 million USD in 2022. This gradual rise indicates sustained or growing utilization of transportation and storage infrastructure.
Other Revenues
The category labeled 'Other' presented some volatility, with a decrease from 49 million USD in 2018 to about 26 million USD in 2020, a spike to nearly 61 million USD in 2021, followed by a drop to 20 million USD in 2022. The inconsistency suggests varying contributions from miscellaneous or non-core activities.