Price to Book Value (P/BV)
since 2005
Calculation
ONEOK Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total ONEOK shareholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 28, 2023 | 4.51 | = | 65.45 | ÷ | 14.52 | 14.52 | = | 6,493,885 | ÷ | 447,220,972 | |
| Mar 1, 2022 | 4.73 | = | 63.82 | ÷ | 13.48 | 13.48 | = | 6,015,163 | ÷ | 446,213,285 | |
| Feb 23, 2021 | 3.36 | = | 45.62 | ÷ | 13.58 | 13.58 | = | 6,042,398 | ÷ | 444,983,595 | |
| Feb 25, 2020 | 4.89 | = | 73.61 | ÷ | 15.06 | 15.06 | = | 6,225,951 | ÷ | 413,319,000 | |
| Feb 26, 2019 | 4.02 | = | 64.29 | ÷ | 15.98 | 15.98 | = | 6,579,543 | ÷ | 411,611,382 | |
| Feb 27, 2018 | 4.23 | = | 57.00 | ÷ | 13.46 | 13.46 | = | 5,527,867 | ÷ | 410,634,227 | |
| Feb 28, 2017 | 60.35 | = | 54.05 | ÷ | 0.90 | 0.90 | = | 188,745 | ÷ | 210,757,806 | |
| Feb 23, 2016 | 13.33 | = | 21.31 | ÷ | 1.60 | 1.60 | = | 335,798 | ÷ | 209,989,711 | |
| Feb 25, 2015 | 15.98 | = | 45.39 | ÷ | 2.84 | 2.84 | = | 592,115 | ÷ | 208,400,547 | |
| Feb 25, 2014 | 5.23 | = | 58.81 | ÷ | 11.25 | 11.25 | = | 2,337,851 | ÷ | 207,814,086 | |
| Feb 26, 2013 | 4.27 | = | 44.34 | ÷ | 10.39 | 10.39 | = | 2,129,609 | ÷ | 204,994,065 | |
| Feb 21, 2012 | 3.86 | = | 41.63 | ÷ | 10.77 | 10.77 | = | 2,238,573 | ÷ | 207,787,580 | |
| Feb 22, 2011 | 2.77 | = | 31.67 | ÷ | 11.44 | 11.44 | = | 2,448,623 | ÷ | 214,042,340 | |
| Feb 23, 2010 | 2.07 | = | 21.48 | ÷ | 10.40 | 10.40 | = | 2,207,194 | ÷ | 212,281,048 | |
| Feb 25, 2009 | 1.16 | = | 11.47 | ÷ | 9.92 | 9.92 | = | 2,088,170 | ÷ | 210,478,992 | |
| Feb 27, 2008 | 2.54 | = | 24.03 | ÷ | 9.46 | 9.46 | = | 1,969,308 | ÷ | 208,121,078 | |
| Mar 1, 2007 | 2.11 | = | 21.08 | ÷ | 10.00 | 10.00 | = | 2,215,958 | ÷ | 221,694,990 | |
| Mar 13, 2006 | 1.92 | = | 14.71 | ÷ | 7.65 | 7.65 | = | 1,794,757 | ÷ | 234,486,556 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of ONEOK Inc. Annual Report.
The share price of the company demonstrates notable fluctuations over the examined period. Initially, from 2006 to 2008, the share price experienced a steady increase, rising from $14.71 to $24.03. However, there was a significant decline in 2009, dropping to $11.47, followed by a recovery and substantial growth, peaking at $73.61 in 2020. After this peak, the price declined sharply in 2021 to $45.62 but recovered again towards 2023, reaching $65.45.
Regarding the book value per share (BVPS), the data exhibits variability and some inconsistencies. From 2006 to 2014, BVPS mostly maintained a modest upward trend with some fluctuations, reaching $11.25 in 2014 before a sharp drop occurred in 2015 and 2016 down to $1.6 and $0.9 respectively. Subsequently, a substantial recovery took place starting 2017, with BVPS growing to $15.98 by 2019, then slightly declining and stabilizing around $13.48 to $14.52 in the final years.
The price-to-book value ratio (P/BV) further reflects the volatility in both market valuation and underlying book value. Initially ranging between approximately 1.16 and 4.27 from 2006 to 2013, the ratio spikes dramatically in 2015 and 2016 to 15.98 and 60.35, a movement that coincides with the significant drop in BVPS during those years. This suggests that the market price remained relatively elevated despite the diminished book value. From 2017 onward, the P/BV returns to more moderate levels between 3.36 and 5.23, indicating a rebalancing of market valuation relative to book value.
Overall, the data reflects periods of volatility likely influenced by internal and external factors affecting the company's fundamentals and market perception. Significant drops in BVPS during 2015 and 2016, accompanied by a surge in P/BV ratio, suggest an anomaly or restructuring event during those years. Despite fluctuations, the share price trend over the entire period shows growth, indicating positive investor sentiment in the long term.
- Share Price Trend
- General upward trend from 2006 to 2020 with notable fluctuations, including a sharp decline in 2009 and 2021.
- Book Value per Share
- Steady growth with some volatility until a sharp drop in 2015-2016, followed by recovery and stabilization.
- Price-to-Book Value Ratio
- Relatively stable pre-2014, dramatic increase during 2015-2016, then normalization around moderate levels thereafter.
Comparison to Competitors
ONEOK Inc., P/BV, long-term trends, comparison to competitors
| ONEOK Inc. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Feb 28, 2023 | 4.51 | 1.94 | 2.75 | 2.29 | 1.76 |
| Mar 1, 2022 | 4.73 | 1.89 | 2.61 | 1.93 | 1.79 |
| Feb 23, 2021 | 3.36 | 1.50 | 2.22 | 1.53 | 1.33 |
| Feb 25, 2020 | 4.89 | 1.42 | 1.80 | 1.17 | 0.86 |
| Feb 26, 2019 | 4.02 | 1.47 | 2.47 | 1.75 | 2.34 |
| Feb 27, 2018 | 4.23 | 1.42 | 2.10 | 1.71 | 2.54 |
| Feb 28, 2017 | 60.35 | 1.44 | 1.70 | 2.01 | 2.32 |
| Feb 23, 2016 | 13.33 | 1.05 | 1.02 | 1.98 | 2.19 |
| Feb 25, 2015 | 15.98 | 1.32 | 1.59 | 2.16 | 1.76 |
| Feb 25, 2014 | 5.23 | 1.44 | 1.57 | 2.38 | 1.77 |
| Feb 26, 2013 | 4.27 | 1.65 | 1.49 | 2.42 | 1.65 |
| Feb 21, 2012 | 3.86 | 1.76 | 1.45 | 2.67 | 2.26 |
| Feb 22, 2011 | 2.77 | 1.95 | 1.64 | 2.88 | 2.55 |
| Feb 23, 2010 | 2.07 | 1.58 | 1.15 | 2.78 | 2.21 |
| Feb 25, 2009 | 1.16 | 1.46 | 1.03 | 2.97 | 1.50 |
| Feb 27, 2008 | 2.54 | 2.40 | 1.41 | 3.93 | 2.65 |
| Mar 1, 2007 | 2.11 | 2.14 | 1.33 | 3.58 | 2.02 |
| Mar 13, 2006 | 1.92 | 2.03 | 1.62 | 3.26 | 2.48 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
ONEOK Inc., P/BV, long-term trends, comparison to sector (oil, gas & consumable fuels)
| ONEOK Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 28, 2023 | 4.51 | 2.18 |
| Mar 1, 2022 | 4.73 | 1.99 |
| Feb 23, 2021 | 3.36 | 1.57 |
| Feb 25, 2020 | 4.89 | 1.29 |
| Feb 26, 2019 | 4.02 | 1.73 |
| Feb 27, 2018 | 4.23 | 1.67 |
| Feb 28, 2017 | 60.35 | 1.77 |
| Feb 23, 2016 | 13.33 | 1.53 |
| Feb 25, 2015 | 15.98 | 1.74 |
| Feb 25, 2014 | 5.23 | 1.88 |
| Feb 26, 2013 | 4.27 | 1.96 |
| Feb 21, 2012 | 3.86 | 2.13 |
| Feb 22, 2011 | 2.77 | 2.33 |
| Feb 23, 2010 | 2.07 | 2.00 |
| Feb 25, 2009 | 1.16 | 1.98 |
| Feb 27, 2008 | 2.54 | 2.73 |
| Mar 1, 2007 | 2.11 | 2.48 |
| Mar 13, 2006 | 1.92 | 2.54 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
ONEOK Inc., P/BV, long-term trends, comparison to industry (energy)
| ONEOK Inc. | Energy | |
|---|---|---|
| Feb 28, 2023 | 4.51 | 2.27 |
| Mar 1, 2022 | 4.73 | 2.06 |
| Feb 23, 2021 | 3.36 | 1.60 |
| Feb 25, 2020 | 4.89 | 1.33 |
| Feb 26, 2019 | 4.02 | 1.73 |
| Feb 27, 2018 | 4.23 | 1.78 |
| Feb 28, 2017 | 60.35 | 1.89 |
| Feb 23, 2016 | 13.33 | 1.60 |
| Feb 25, 2015 | 15.98 | 1.82 |
| Feb 25, 2014 | 5.23 | 1.97 |
| Feb 26, 2013 | 4.27 | 2.04 |
| Feb 21, 2012 | 3.86 | 2.21 |
| Feb 22, 2011 | 2.77 | 2.46 |
| Feb 23, 2010 | 2.07 | 2.11 |
| Feb 25, 2009 | 1.16 | 2.04 |
| Feb 27, 2008 | 2.54 | 2.92 |
| Mar 1, 2007 | 2.11 | 2.64 |
| Mar 13, 2006 | 1.92 | 2.74 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).