OKE · sample dossier
Oneok, Inc.
61/100
Stale StatementsGenerated Oct 24, 2026 · 10:00 AM UTC · 1 hour ago
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EquityOneok, Inc. · XNYS
Decision context
Recommendation
A mixed picture — no strong reason to buy or sell right now.
AlphaDog Fair Value
Market context
Snapshot returns at report publication
1 month
+5.1%
3 months
+7.1%
6 months
+9.5%
1 year
+37.7%
At a Glance
A large company is riding a strong uptrend at fair pricing.
Top Holders
As of Jun 30, 2026Financial trajectory
Financial Performance
Executive thesis & key metrics
Executive Thesis
Oneok, Inc. (OKE) is a $60.41B market-cap midstream energy company trading at $95.83 with a TTM P/E of 16.55 and TTM EV/EBITDA of 12.18.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
The latest quarter is more than 100 days old, so this stays a Hold.
Data through
Stale StatementsJun 30, 2026
A newer quarter has been reported and is not in these statements.
Value 79/100 — P/E 16.6x screens cheap vs inputs.
Re-evaluate if
- Severe accounting disclosures (auditor / restatement / going concern) in SEC filings
- Net margin falls below 7.4% (was 9.3%)
Trim / reconsider if
- ROA falls below 3.7% (was 5.8%)
- TTM Debt/Equity increases above 1.43x while the Altman Z-score drops below 2.05.
Think of these dollars as a map of our value estimate for Hold — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
The consensus Buy verdict and Bull debate win rely heavily on backward-looking momentum—specifically a 37.7% 1-year price return and stale Q2 earnings data ended 2026-06-30—while glossing over severe structural capital inefficiency.
May be overlooked
The wide divergence between 52.8% YoY quarterly revenue growth and 14.2% YoY EPS growth indicates that top-line scale expansion is not translating into proportional bottom-line profitability, keeping TTM ROA and ROIC depressed at 5.8%.
Fundamental visibility is compromised by stale data, as the core financial metrics rely on Q2 earnings ended 2026-06-30 and guidance from a 2026-04-28 Form 8-K (both over 90 days old), while the 2026-10-22 Q3 earnings coverage is referenced only via media sentiment without updated financial tables.
While the restatement flag on the 2026-08-04 Form 10-Q and stale 2026-02-24 10-K is dismissed as a false positive related to an amended credit facility, the underlying action—expanding the revolving credit agreement by 40% from $2.5B to $3.5B—highlights growing liquidity demands on a balance sheet already carrying 1.43x Debt/Equity.
Expectations look stretched
Bulls extrapolate a 37.7% 1-year price return and Q2 sequential revenue growth (+25.3% QoQ to $12.05B) as evidence of durable value creation, ignoring that a 5.8% TTM ROIC and 42.3/100 quality score suggest the company barely earns its cost of capital.
The consensus assumes OKE's 12.18x EV/EBITDA and 16.55x P/E multiples will re-rate toward peer TRGP (15.4x EV/EBITDA, 28.9x P/E) rather than compress toward larger peer Energy Transfer (ET) at 9.2x EV/EBITDA and 14.0x P/E ($70.42B market cap).
Media sentiment tracking 15 articles as of 2026-10-23 shows 6 bullish and 0 bearish pieces, indicating complacent, one-sided coverage that ignores the scoring engine's weak 38.8/100 safety score and 6/9 Piotroski F-score.
Quarterly YoY revenue growth slows below 52.8% or quarterly YoY EPS growth drops below 14.2%.
Quarterly YoY revenue growth slows below 52.8% or quarterly YoY EPS growth drops below 14.2%.
Monitor These Triggers
3 Checkpoints · Next PrintQuarterly YoY EPS growth relative to the 14.2% baseline alongside TTM Debt/Equity versus the 1.43x level.
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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