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OKE

ONEOK, Inc.

Energy · $53.9B market cap

Verdict

Share price

$87.88

close of Oct 3, 2026

Fair value

$59.22

Sticker Price

Payback Price

$23.69

buy price

Overpriced

OKE is Overpriced: at $87.88 it trades 48% above its fair value of $59.22. Its buy price (Payback Price) is $23.69, 73% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 14% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth14.0% a year✓
Equity per share growth4.3% a year✗
Sales growth2.1% a year✗
Free cash flow growth10.9% a year✓
Return on invested capital7.5%✗

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Superinvestors

2 of the investors we track hold OKE. Who we track

First Eagle Investment Management

First Eagle Investment Management · as of Q2 2026

$1.0B

11,834,827 shares

Torray Funds

Torray Funds · as of Q2 2026

$20.8M

238,831 shares

About ONEOK, Inc.

ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the comprehensive management of natural gas, encompassing gathering, processing, storage, and transportation. These operations are structured into three distinct segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. The company…

Oil & Gas Midstream

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works