OKE

ONEOK, Inc.

EnergyOil & Gas MidstreamNASDAQ

$92.15

+$6.37 (6.92%)today

Conviction

0/ 10

Fair Value$92.10

Upside-0.06%

Signal0

Market Cap$58.5B

52W Range$64.02–$100.57

Next EarningsApr 28

Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 94% valid

Fair Value$136.19

Current Price$89.21

Upside / Down+52.7%

P(Undervalued)73.7%

P(20%+ Up)64.6%

P(15%+ Down)21.0%

Fair Value Distribution — percentile bands

73.7% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

11.0%/yr

±10.6% · revenue growth to justify current price

FCF-Based Reverse DCF

20.8%/yr

±3.3% · FCF growth to justify current price

THE GAP

Market pricing margin compression or rising capex

KEY VALUE DRIVERS

Spearman correlation — what moves this valuation most

Quick Take

ONEOK, Inc.

Trailing P/E17.1x

Forward P/E15.4x

P/S1.7x

EPS (TTM)$5.42

Analyst Target$92.10

Analyst Upside-0.1%

No Eagle analysis yet. Request a full review including conviction score, bull/bear cases, and thesis.

Bull Case

No analysis yet

Bear Case

No analysis yet

Research Feed

sec_10kMar 2

Conviction: unchanged

OKE 2025 10-K: Fortress Fee-Based Franchise with Strategic M&A Expansion

ONEOK: Well-positioned integrated midstream platform with strong fee-based moat, recent strategic M&A (EnLink, Medallion) driving accretion, and disciplined capital allocation. Conservative valuation ...