ONEOK (OKE) 10-K Summary — Year Ended Dec 31, 2023
ONEOK is an energy company focused on delivering energy products and services. Its revenue declined in the most recent period after a prior-year increase, while operating income and net income remained positive and operating cash flow was strong.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
ONEOK is an energy company focused on delivering energy products and services. Its revenue declined in the most recent period after a prior-year increase, while operating income and net income remained positive and operating cash flow was strong.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$17.7B
Revenue reported for the fiscal year.
Operating income
$4.1B
Income from operations reported for the year.
Net income
$2.7B
Net income reported for the year.
Operating cash flow
$4.4B
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, 2021 | $16.5B | n/a |
| Dec 31, 2022 | $22.4B | +35.4% |
| Dec 31, 2023 | $17.7B | -21.0% |
Business overview
ONEOK's mission is to deliver energy products and services vital to an advancing world. Its business strategy emphasizes a zero-incident safety culture, a highly engaged workforce, and a sustainable model that maintains investment-grade credit ratings and a strong balance sheet.
Financial performance
Revenue decreased compared to the prior year, following a significant increase in the previous period. Operating income and net income were reported at substantial levels, and operating cash flow was also significant.
Material risks
The filing references risk factors but does not provide specific risk descriptions in the supplied context. Therefore, no material risks can be identified from the available data.
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.
What to watch
Monitor the progress of the share repurchase program in the next filing.