ONEOK (OKE) 10-K Summaries & Annual Filing History
Review ONEOK, Inc. (OKE) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
ONEOK is an energy company focused on delivering energy products and services. In the most recent fiscal year, the company reported a substantial increase in revenue and strong operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$33.6B
Revenue reported for the fiscal year.
Operating income
$5.7B
Income from operations reported for the year.
Net income
$3.4B
Net income reported for the year.
Operating cash flow
$5.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $22.4B | +35.4% |
| Dec 31, 2023 | $17.7B | -21.0% |
| Dec 31, 2024 | $21.7B | +22.7% |
| Dec 31, 2025 | $33.6B | +55.0% |
Business overview
The company's mission is to deliver energy products and services vital to an advancing world. Its strategy emphasizes zero incidents, a highly engaged workforce, a sustainable business model, and maximizing total shareholder return through high-return capital projects and share repurchases.
Financial performance
Revenue grew significantly in the most recent year compared to the prior year, following a decline in an earlier period. Operating income and net income were reported at healthy levels, and operating cash flow remained robust.
Material risks
The supplied filing context does not include detailed risk factor descriptions. The company's strategy notes a focus on safety, environmental responsibility, and maintaining investment-grade credit ratings.
Liquidity and capital
The company expects internally generated cash flows to fund high-return capital projects, grow the dividend, reduce debt, and support a share repurchase program. It aims to maintain a strong balance sheet and investment-grade credit ratings.
What to watch
Readers should monitor the company's progress on high-return capital projects and its ability to sustain cash flow generation.