ONEOK (OKE) Inventory Turnover

: 3.96 (As of Dec. 2023)

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Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. ONEOK's Cost of Goods Sold for the three months ended in Dec. 2023 was $3,561 Mil. ONEOK's Average Total Inventories for the quarter that ended in Dec. 2023 was $899 Mil. ONEOK's Inventory Turnover for the quarter that ended in Dec. 2023 was 3.96.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. ONEOK's Days Inventory for the three months ended in Dec. 2023 was 23.04.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. ONEOK's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.17.

ONEOK Inventory Turnover Historical Data

The historical data trend for ONEOK's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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ONEOK Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

15.38

12.96

27.06

31.91

18.56

ONEOK Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover																6.36	6.17	5.22	4.05	3.96

ONEOK Inventory Turnover Calculation

ONEOK's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	12698	/ (	(581	+	787)	/	2 )
=	12698	/	684
=	18.56

ONEOK's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	3561	/ (	(1011	+	787)	/	2 )
=	3561	/	899
=	3.96

ONEOK (NYSE:OKE) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

ONEOK's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	899	/	3561	*	365 / 4
	=	23.04

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

ONEOK's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	899	/	5235
	=	0.17

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

ONEOK Inventory Turnover Related Terms

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ONEOK (OKE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » ONEOK Inc (NYSE:OKE) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

ONK:Germany ONK:Germany ONK:Germany O1KE34:Brazil OKE:Austria

Address

100 West Fifth Street, Tulsa, OK, USA, 74103

Website

https://www.oneok.com

Oneok provides natural gas gathering, processing, storage, and transportation as well as natural gas liquids transportation and fractionation. It owns extensive assets in the midcontinent, Permian, and Rocky Mountain regions.

Executives

Eduardo A Rodriguez	director	100 WEST FIFTH STREET, TULSA OK 74103
Lyndon C Taylor	officer: See Remarks	333 W. SHERIDAN AVE, OKLAHOMA CITY OK 73102
James R Hoskin	officer: See Remarks	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Wayne Thomas Smith	director	1940 AIR PRODUCTS BLVD., ALLENTOWN PA 18106
Lori Gobillot	director	5103 CITY WEST BLVD., 4TH FLOOR, HOUSTON TX 77042
Janet L. Hogan	officer: Senior Vice President HR	2307 OREGON STREET, OSHKOSH WI 54902
Pierce Norton	director, officer: President & CEO	100 W. 5TH STREET, TULSA OK 74103
Brian L Derksen	director	100 W. 5TH ST., TULSA OK 74103
Scott D Schingen	officer: Senior VP Operations	100 WEST 5TH STREET, TULSA OK 74103
Mark W Helderman	director	100 W. 5TH ST., TULSA OK 74102
Mary M Spears	officer: VP & CHIEF ACCOUNTING OFFICER	100 W. 5TH ST., TULSA OK 74103
Gary David Parker	director	100 W. 5TH ST., TULSA OK 74103
Terry K Spencer	officer: OKS - COO	100 W. 5TH ST., TULSA OK 74103
John William Gibson	director, officer: CEO	100 WEST FIFTH STREET, TULSA OK 74103
Hulse Walter S Iii	officer: EVP STRATEGIC PLNG & CORP DEV	100 W. 5TH ST., TULSA OK 74103