Stock Analysis on Net

ONEOK Inc. (NYSE:OKE)

$22.49

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

Return on Assets (ROA)
since 2005

Microsoft Excel

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Calculation

ONEOK Inc., ROA, long-term trends, calculation

Microsoft Excel

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$ in thousands


Net Income Trends
Net income exhibited notable fluctuations over the analyzed period, beginning at approximately $547 million at the end of 2005. It declined significantly by 2006 and stabilized around $300 million through 2009. From 2010 onward, net income showed a general upward trend with occasional variability, peaking at over $1.15 billion in 2018. After a dip to around $613 million in 2020, it again rose sharply to approximately $1.72 billion by the end of 2022, indicating strong profitability recovery and growth in recent years.
Total Assets Trends
Total assets grew steadily from about $10 billion at the end of 2005 to nearly $24.4 billion at the end of 2022. There were consistent year-on-year increases with a few periods of slower growth, particularly around 2009 and 2014. Overall, asset growth reflects ongoing capital investment and expansion activities across the years, doubling the base figure over the 17-year span.
Return on Assets (ROA) Analysis
ROA, representing the efficiency of asset utilization in generating profits, declined sharply from 5.46% in 2005 to around 2.3% by 2012, signaling decreased asset profitability. The ratio remained relatively low through 2016, fluctuating between 1.5% and 2.3%. A notable spike occurred in 2018, reaching 6.32%, which coincided with a peak in net income. After a moderate drop in 2020 to 2.66%, ROA swiftly increased to a high of 7.06% in 2022. These trends suggest improved operational efficiency and profitability leveraging the asset base, particularly in the last few years.
Overall Observations
The financial data reveals initial stagnation and modest declines in profitability metrics during the mid-2000s to early 2010s, despite growth in asset base. From the mid-2010s onward, both net income and ROA demonstrated substantial improvement, indicating enhanced earnings quality and asset utilization. The trajectory in total assets underscores continuous company investment and scale expansion. The alignment of increased net income and ROA in recent years reflects stronger financial performance and operational efficiency.

Comparison to Competitors

ONEOK Inc., ROA, long-term trends, comparison to competitors

Microsoft Excel

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., ROA, long-term trends, comparison to sector (oil, gas & consumable fuels)

Microsoft Excel

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)