ONEOKOKE +2.45%87 EV-to-FCF is 39.67 as of Jul. 03, 2026, which is 46% above its 10-year median of 27.16. GuruFocus rates OKE with a GF Score™ of 87/100 and a GF Value™ of $105.11 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 577 Oil & Gas companies, ONEOK ranks worse than 83.02% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, ONEOK's Enterprise Value is $88,947 Mil.
ONEOK's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $2,242 Mil. Therefore, ONEOK's EV-to-FCF for today is 39.67.
The historical rank and industry rank for ONEOK's EV-to-FCF or its related term are showing as below:
OKE'
s EV-to-FCF Range Over the Past 10 Years
Min: -124.31 Med: 27.16 Max: 847.8
Current: 39.67
During the past 13 years, the highest EV-to-FCF of ONEOK was 847.80. The lowest was -124.31. And the median was 27.16.
OKE's EV-to-FCF is ranked worse than 83.02% of 577
companies
in the Oil & Gas industry
Industry Median: 15.35
vs OKE: 39.67
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-03), ONEOK's stock price is $87.83.
ONEOK's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $5.610. Therefore, ONEOK's PE Ratio (TTM) for today is 15.66.
ONEOK (NYSE:OKE) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
ONEOK's share price for today is $87.83.
ONEOK's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $5.610.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
ONEOK EV-to-FCF Related Terms
ONEOK EV-to-FCF Historical Data
* Premium members only.
The historical data trend for ONEOK's EV-to-FCF 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.
For the Oil & Gas Midstream subindustry, ONEOK's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ONEOK EV-to-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, ONEOK's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where ONEOK's EV-to-FCF falls into.
ONEOK's current Enterprise Value is $88,947 Mil.
ONEOK's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,242 Mil.
* 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.
ONEOK (OKE) has a EV-to-FCF of 39.67 as of Jul. 03, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on ONEOK and its competitors. This is 46% above median its historical median of 27.16. According to the industry distribution chart, ONEOK ranks #479 out of 577 companies in the Oil & Gas industry, placing it in the top 83%.
Is ONEOK's EV-to-FCF too high?
ONEOK's current EV-to-FCF of 39.67 is 46% above median its 10-year median of 27.16. The Oil & Gas industry median EV-to-FCF is 15.35. ONEOK's value of 39.67 is 158.4% above this industry median. Based on the distribution chart, ONEOK ranks #479 out of 577 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, ONEOK has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ONEOK's EV-to-FCF compare to MPLX and TRGP?
According to the Oil & Gas industry distribution chart, ONEOK ranks #479 out of 577 companies for EV-to-FCF. This places ONEOK in the lower half of its industry. The industry median EV-to-FCF is 15.35. ONEOK's value of 39.67 is 158.4% above this benchmark. While the company's 10-year median is 27.16 vs. the industry median of 15.35, ONEOK has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.35, based on 577 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ONEOK's current EV-to-FCF of 39.67 is 158.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on ONEOK and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ONEOK's current EV-to-FCF is 39.67, which is 46% above median its own 10-year median of 27.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ONEOK stock overvalued right now?
Based on GuruFocus' analysis, ONEOK (OKE) is currently considered Modestly Undervalued. The stock's GF Value™ is $105.11, compared to a current price of $87.83 — trading 16.4% below its estimated fair value. The current EV-to-FCF is 39.67, which is 46% above median its 10-year median of 27.16 and 158.4% above the Oil & Gas industry median of 15.35. ONEOK's overall GF Score™ is 87/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For ONEOK (OKE), the current EV-to-FCF is 39.67 as of Jul. 03, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ONEOK (OKE) Overvalued in 2026?
Based on GuruFocus' analysis, ONEOK stock appears to be undervalued.
The current stock price of $87.83 is trading 16.4% below its estimated GF Value™ of $105.11.
GuruFocus considers ONEOK to be Modestly Undervalued.
Key valuation signals for OKE:
EV-to-FCF: 39.67 (46% above median its 10-year median of 27.16)
GF Value™: $105.11 vs. price of $87.83 (16.4% below fair value)
Industry Position: 158.4% above the Oil & Gas median (#479 of 577)
No single metric tells the full story. See the OKE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oneok is a diversified midstream service provider specializing in natural gas gathering, processing, storage, and transportation, as well as natural gas liquids transportation and fractionation. It also operates in the refined product and crude oil segment, connecting producers, refiners, and consumers. Operations are in the midcontinent, Permian, and Rocky Mountain regions.
87GF Score
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