Enterprise Value (EV)
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Current Enterprise Value (EV)
ONEOK Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in thousands | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.01 par value (per books) | |
| Total equity | |
| Add: Current maturities of long-term debt (per books) | |
| Add: Short-term borrowings (per books) | |
| Add: Current finance lease liability (per books) | |
| Add: Long-term debt, excluding current maturities (per books) | |
| Add: Noncurrent finance lease liability (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2022-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
ONEOK Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of ONEOK Inc. Annual Report.
3 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity Market Value and Total Equity
- The common equity (market value) and total equity exhibit a fluctuating trend over the five-year period. From 2018 to 2019, there is a notable increase in equity, rising from approximately $26.46 billion to $30.42 billion. However, this is followed by a significant decline in 2020 to about $20.30 billion, representing a reversal in the upward trend. In 2021 and 2022, equity values recover, increasing to $28.48 billion and $29.27 billion respectively, but do not consistently surpass the 2019 peak.
- Total Equity and Debt
- The total equity and debt figures generally mirror the fluctuations seen in equity values but on a larger scale given the inclusion of debt. The total equity and debt increase from about $35.87 billion in 2018 to a peak of approximately $43.16 billion in 2019, followed by a decline to about $34.56 billion in 2020. Subsequently, there is a recovery to $42.14 billion in 2021 and a slight increase to $42.91 billion in 2022. This pattern indicates varying leverage or debt management over the years.
- Enterprise Value (EV)
- The enterprise value trends closely align with total equity and debt changes. EV increases from approximately $35.86 billion in 2018 to $43.14 billion in 2019, then decreases notably to about $34.04 billion in 2020. It rebounds to approximately $42.00 billion in 2021 and slightly increases again to $42.69 billion in 2022. This suggests that market valuation and debt levels influence the company's enterprise valuation significantly over the observed periods.
- Overall Observations
- The data suggest the company experienced a peak in equity and total valuation in 2019, followed by a marked decline in 2020, potentially reflecting external economic or industry-specific challenges during that year. The subsequent recovery in 2021 and 2022 indicates a rebound in financial performance or market conditions. The patterns of equity, debt, and enterprise value are closely interrelated, highlighting the combined impact of market valuation and capital structure on the company’s overall financial position.