ONEOK (OKE) revenue breakdown
By segment, Natural Gas Liquids is the largest at 41% of fiscal 2025 revenue; Refined Products and Crude grew fastest, 249% a year over 2 years.
By product, Liquids Commodity is the largest at 76% of fiscal 2025 revenue, growing 34% a year over 2 years.
Revenue by segment
Fiscal years, as ONEOK reports them in its 10-K filings; fiscal 2025 total $38.6B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Natural Gas Liquids | $7.7B | $10.6B | $10.9B | $8.5B | $7.1B | $14.4B | $19.1B | $14.4B | $15.2B | $16.0B | 41% |
| Refined Products and Crude | — | — | — | — | — | — | — | $1.1B | $4.5B | $13.0B | 34% |
| Natural Gas Gathering and Processing | $2.1B | $3.0B | $3.0B | $2.4B | $1.8B | $4.5B | $6.5B | $4.1B | $4.6B | $7.7B | 20% |
| Natural Gas Pipelines | $379M | $420M | $432M | $472M | $480M | $607M | $579M | $623M | $822M | $1.8B | 5% |
Revenue by product
Fiscal years, as ONEOK reports them in its 10-K filings; fiscal 2025 total $33.6B.
| Products | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Liquids Commodity | — | — | — | — | — | — | $14.2B | $16.4B | $25.6B | 76% |
| Residue Natural Gas Sales | — | $1.1B | $966M | $769M | $1.6B | $2.7B | $1.4B | $1.3B | $3.3B | 10% |
| Transportation and Storage Revenue | — | $603M | $648M | $638M | $657M | $710M | $1.3B | $3.0B | $3.1B | 9% |
| Exchange Services and Natural Gas Gathering and Processing Revenue | — | — | — | — | — | — | — | $760M | $1.5B | 4% |
| Other | — | $29M | $27M | $26M | $61M | $21M | $71M | $138M | $144M | 0% |
| Gathering and Exchange Services Revenue | — | — | — | — | — | — | $696M | — | — | — |
| NGL and Condensate Sales | — | — | — | — | — | $18.3B | — | — | — | — |
| NGL and Condensate Sales | — | $10.3B | $7.9B | $6.5B | $13.6B | — | — | — | — | — |
| Commodity Sales | $9.9B | — | — | — | — | — | — | — | — | — |
| Services | $2.3B | — | — | — | — | — | — | — | — | — |
| Gathering and Exchange Services Revenue | — | $568M | $579M | $631M | $653M | $691M | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for OKE.
Open OKE in InvestinglyQuestions
Where does ONEOK make its money?
In fiscal 2025, by segment: Natural Gas Liquids $16.0B, Refined Products and Crude $13.0B, Natural Gas Gathering and Processing $7.7B, Natural Gas Pipelines $1.8B.
From ONEOK's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.