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OKE Oneok

energy · valued with glm-5.2 medium conviction · deep-dived 2026-09-22

STRONG BUY
Intrinsic value$73.14
Price (at call)$91.80
Margin of safety -20.3%
vs market (rating basis) +69.7%

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The story

Value drivers

Revenue growth (Y1)14.5%
Terminal growth3.5%
Forecast horizon10y
Target operating margin16.6%
Years to target margin5
Sales-to-capital0.71
Beta0.72
Failure probability0.0%
Cost of capital (WACC)7.7%
Terminal WACC8.5%

Valuation bridge

PV of explicit FCFF6.54B
PV of terminal value72.30B
Equity value46.11B
÷ shares → per share$73.14

News

neutral -0.15 · 8 articles

  • Oneok Inc. (OKE) Stock Drops Despite Market Gains: Important Facts to Note
  • Oil Prices Rise and Fall. These 4 High-Yield Pipeline Stocks Keep Paying
  • Top Analyst Reports for Applied Materials, Philip Morris & Valero Energy
  • 2 Midstream Dividend Stocks Nobody's Talking About Right Now
  • ONEOK (OKE) Completed Its Corporate Reorganization On September 10
  • ONEOK (OKE) Stock May Be 46% Undervalued Following Debt Tender Pricing
  • Oneok Inc. (OKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
  • These 3 Pipeline Stocks Pay High Yields Without the K-1 Headache

Projected free cash flow to the firm

YrRevenueGrowthMarginNOPATReinvestFCFFPV
1 45.08B 14.5% 16.6% 5.79B 8.03B -2.25B -2.09B
2 51.08B 13.3% 16.6% 6.56B 8.42B -1.87B -1.61B
3 57.25B 12.1% 16.6% 7.35B 8.67B -1.32B -1.06B
4 63.46B 10.9% 16.6% 8.14B 8.73B -582.64M -433.03M
5 69.57B 9.6% 16.6% 8.93B 8.58B 346.61M 239.18M
6 75.42B 8.4% 16.6% 9.68B 8.21B 1.47B 940.56M
7 80.83B 7.2% 16.6% 10.37B 7.60B 2.77B 1.65B
8 85.64B 6.0% 16.6% 10.99B 6.76B 4.23B 2.34B
9 89.68B 4.7% 16.6% 11.51B 5.68B 5.82B 2.99B
10 92.82B 3.5% 16.6% 11.91B 4.41B 7.50B 3.57B

History

DatePriceIntrinsicMoSRating
2026-09-22$91.80 $73.14 -20.3% STRONG BUY
2026-08-19$97.07 $80.94 -16.6% STRONG BUY
2026-07-15$91.90 $51.83 -43.6% BUY
2026-06-23$88.06 $54.86 -37.7% BUY