Calculation
P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income available to common shareholders1 (in thousands) | ÷ | No. shares of common stock outstanding2 | ||
---|---|---|---|---|---|---|---|---|---|---|---|
Feb 28, 2023 | 17.01 | = | 65.45 | ÷ | 3.85 | 3.85 | = | 1,721,121 | ÷ | 447,220,972 | |
Mar 1, 2022 | 19.00 | = | 63.82 | ÷ | 3.36 | 3.36 | = | 1,498,606 | ÷ | 446,213,285 | |
Feb 23, 2021 | 33.19 | = | 45.62 | ÷ | 1.37 | 1.37 | = | 611,709 | ÷ | 444,983,595 | |
Feb 25, 2020 | 23.82 | = | 73.61 | ÷ | 3.09 | 3.09 | = | 1,277,477 | ÷ | 413,319,000 | |
Feb 26, 2019 | 23.00 | = | 64.29 | ÷ | 2.80 | 2.80 | = | 1,150,603 | ÷ | 411,611,382 | |
Feb 27, 2018 | 60.47 | = | 57.00 | ÷ | 0.94 | 0.94 | = | 387,074 | ÷ | 410,634,227 | |
Feb 28, 2017 | 32.36 | = | 54.05 | ÷ | 1.67 | 1.67 | = | 352,039 | ÷ | 210,757,806 | |
Feb 23, 2016 | 18.27 | = | 21.31 | ÷ | 1.17 | 1.17 | = | 244,977 | ÷ | 209,989,711 | |
Feb 25, 2015 | 30.11 | = | 45.39 | ÷ | 1.51 | 1.51 | = | 314,107 | ÷ | 208,400,547 | |
Feb 25, 2014 | 45.85 | = | 58.81 | ÷ | 1.28 | 1.28 | = | 266,533 | ÷ | 207,814,086 | |
Feb 26, 2013 | 25.21 | = | 44.34 | ÷ | 1.76 | 1.76 | = | 360,619 | ÷ | 204,994,065 | |
Feb 21, 2012 | 23.99 | = | 41.63 | ÷ | 1.74 | 1.74 | = | 360,594 | ÷ | 207,787,580 | |
Feb 22, 2011 | 20.26 | = | 31.67 | ÷ | 1.56 | 1.56 | = | 334,632 | ÷ | 214,042,340 | |
Feb 23, 2010 | 14.93 | = | 21.48 | ÷ | 1.44 | 1.44 | = | 305,451 | ÷ | 212,281,048 | |
Feb 25, 2009 | 7.74 | = | 11.47 | ÷ | 1.48 | 1.48 | = | 311,909 | ÷ | 210,478,992 | |
Feb 27, 2008 | 16.40 | = | 24.03 | ÷ | 1.47 | 1.47 | = | 304,921 | ÷ | 208,121,078 | |
Mar 1, 2007 | 15.26 | = | 21.08 | ÷ | 1.38 | 1.38 | = | 306,312 | ÷ | 221,694,990 | |
Mar 13, 2006 | 6.31 | = | 14.71 | ÷ | 2.33 | 2.33 | = | 546,545 | ÷ | 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.
- Share Price Trend
- The share price exhibited significant fluctuations over the analyzed period. Initially, it increased from $14.71 in 2006 to a peak of $58.81 in 2014, reflecting a general upward trend with some volatility. However, there was a notable decline to $21.31 in 2016, followed by a recovery and subsequent rise reaching $73.61 in 2020. Post-2020, the price decreased to $45.62 but again climbed to $65.45 by 2023. This indicates periods of both strong growth and correction phases within the stock price trajectory.
- Earnings Per Share (EPS) Analysis
- EPS showed a relatively stable but fluctuating pattern. Starting at $2.33 in 2006, it decreased to a low around $0.94 in 2018, with intermittent periods of moderate recovery. A strong increase is visible after 2018, peaking at $3.85 in 2023, indicating improved profitability or earnings capacity in recent years despite some variability.
- Price-to-Earnings (P/E) Ratio Dynamics
- The P/E ratio demonstrated high variability, indicative of changing market valuation and investor sentiment. It ranged from a low of 6.31 in 2006 to a high of 60.47 in 2018. Elevated P/E values, particularly around 2014 and 2018, suggest market optimism or expectations of future growth. Conversely, lower ratios in years like 2006 and 2009 suggest more conservative valuation or undervaluation relative to earnings.
- Integrated Insights
- The divergence between share price growth and EPS in certain periods, notably the significant spike in P/E ratio in 2018, suggests that investor expectations might have outpaced actual earnings performance. The recovery in EPS since 2018 supports a recent improvement in operational performance. The volatility of the share price alongside fluctuating EPS and P/E ratios reflects both external market factors and internal financial developments impacting the company's valuation over time.
Comparison to Competitors
ONEOK Inc. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
---|---|---|---|---|---|
Feb 28, 2023 | 17.01 | 8.71 | 7.07 | 8.01 | 4.24 |
Mar 1, 2022 | 19.00 | 16.81 | 14.66 | 14.11 | 23.89 |
Feb 23, 2021 | 33.19 | — | — | — | — |
Feb 25, 2020 | 23.82 | 70.06 | 8.77 | 15.64 | — |
Feb 26, 2019 | 23.00 | 15.30 | 12.60 | 16.15 | 12.08 |
Feb 27, 2018 | 60.47 | 22.83 | — | 16.28 | 39.87 |
Feb 28, 2017 | 32.36 | — | — | 42.80 | — |
Feb 23, 2016 | 18.27 | 35.02 | — | 20.96 | — |
Feb 25, 2015 | 30.11 | 10.61 | 12.03 | 11.56 | 99.82 |
Feb 25, 2014 | 45.85 | 10.04 | 8.91 | 12.71 | 12.93 |
Feb 26, 2013 | 25.21 | 8.61 | 8.49 | 8.94 | 14.33 |
Feb 21, 2012 | 23.99 | 7.96 | 7.60 | 10.03 | 12.54 |
Feb 22, 2011 | 20.26 | 10.77 | 9.89 | 13.89 | 18.26 |
Feb 23, 2010 | 14.93 | 13.81 | 14.78 | 15.92 | 22.01 |
Feb 25, 2009 | 7.74 | 5.29 | — | 7.42 | 5.96 |
Feb 27, 2008 | 16.40 | 9.89 | 10.59 | 11.78 | 11.21 |
Mar 1, 2007 | 15.26 | 8.63 | 7.09 | 10.33 | 9.28 |
Mar 13, 2006 | 6.31 | 9.04 | 6.31 | 10.03 | 7.06 |
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. | Oil, Gas & Consumable Fuels | |
---|---|---|
Feb 28, 2023 | 17.01 | 7.69 |
Mar 1, 2022 | 19.00 | 15.38 |
Feb 23, 2021 | 33.19 | — |
Feb 25, 2020 | 23.82 | 22.22 |
Feb 26, 2019 | 23.00 | 15.03 |
Feb 27, 2018 | 60.47 | 22.05 |
Feb 28, 2017 | 32.36 | 207.70 |
Feb 23, 2016 | 18.27 | 69.95 |
Feb 25, 2015 | 30.11 | 12.22 |
Feb 25, 2014 | 45.85 | 11.39 |
Feb 26, 2013 | 25.21 | 9.08 |
Feb 21, 2012 | 23.99 | 9.24 |
Feb 22, 2011 | 20.26 | 12.59 |
Feb 23, 2010 | 14.93 | 15.66 |
Feb 25, 2009 | 7.74 | 9.49 |
Feb 27, 2008 | 16.40 | 11.09 |
Mar 1, 2007 | 15.26 | 9.23 |
Mar 13, 2006 | 6.31 | 8.87 |
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. | Energy | |
---|---|---|
Feb 28, 2023 | 17.01 | 8.11 |
Mar 1, 2022 | 19.00 | 15.92 |
Feb 23, 2021 | 33.19 | — |
Feb 25, 2020 | 23.82 | 42.93 |
Feb 26, 2019 | 23.00 | 15.61 |
Feb 27, 2018 | 60.47 | 27.13 |
Feb 28, 2017 | 32.36 | 527.67 |
Feb 23, 2016 | 18.27 | 64.02 |
Feb 25, 2015 | 30.11 | 12.81 |
Feb 25, 2014 | 45.85 | 11.89 |
Feb 26, 2013 | 25.21 | 9.68 |
Feb 21, 2012 | 23.99 | 9.84 |
Feb 22, 2011 | 20.26 | 13.56 |
Feb 23, 2010 | 14.93 | 16.28 |
Feb 25, 2009 | 7.74 | 9.48 |
Feb 27, 2008 | 16.40 | 11.63 |
Mar 1, 2007 | 15.26 | 9.74 |
Mar 13, 2006 | 6.31 | 9.58 |
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).