ONEOK Inc (OKE)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	17.80	19.67	17.72	14.38	18.67	14.41	46.16	42.33	41.46	34.08	27.44	24.83	28.65	15.23	16.23	16.11	22.43	17.55	26.86	46.62
Receivables turnover	9.30	15.44	13.74	10.07	10.06	10.99	18.77	18.61	14.61	13.17	12.03	11.17	11.47	9.14	10.37	10.55	10.29	12.03	14.33	19.14
Payables turnover	6.09	9.72	9.35	7.76	7.63	7.73	16.47	15.73	13.18	11.05	8.84	8.38	9.20	6.63	7.01	6.40	7.10	8.45	7.18	8.23
Working capital turnover	—	—	—	—	—	—	55.49	55.46	—	—	—	—	—	—	—	—	16.26	13.77	9.62	23.99

The activity ratios of ONEOK Inc provide insights into how efficiently the company manages its assets and operating cycle.

1. Inventory Turnover:
- ONEOK Inc's inventory turnover has shown fluctuating trends over the years, ranging from a low of 14.41 to a high of 46.62. Generally, a higher inventory turnover indicates better efficiency in selling inventory and managing stock levels.

2. Receivables Turnover:
- The receivables turnover ratio of ONEOK Inc has varied between 9.14 and 19.14, indicating the number of times the company collects its outstanding receivables during a specific period. A higher ratio suggests that the company is efficient in collecting payments from customers.

3. Payables Turnover:
- The payables turnover for ONEOK Inc fluctuated between 6.09 and 16.47, reflecting how quickly the company pays its suppliers. A higher turnover ratio implies that the company is paying its bills promptly and managing its cash flow effectively.

4. Working Capital Turnover:
- The working capital turnover of ONEOK Inc ranged from 9.62 to 55.49, indicating how efficiently the company utilizes its working capital to support its operations. A higher turnover ratio suggests that the company is effectively utilizing its working capital to generate sales.

Overall, these activity ratios provide valuable insights into ONEOK Inc's operational efficiency and effectiveness in managing its assets and resources.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	20.51	18.56	20.60	25.37	19.55	25.33	7.91	8.62	8.80	10.71	13.30	14.70	12.74	23.97	22.49	22.66	16.27	20.80	13.59	7.83
Days of sales outstanding (DSO)	days	39.26	23.64	26.56	36.23	36.27	33.22	19.45	19.61	24.98	27.71	30.34	32.68	31.82	39.93	35.18	34.60	35.46	30.34	25.48	19.07
Number of days of payables	days	59.97	37.57	39.02	47.06	47.85	47.20	22.16	23.21	27.70	33.02	41.27	43.54	39.68	55.07	52.05	56.99	51.38	43.22	50.85	44.36

ONEOK Inc's Days of Inventory on Hand (DOH) ratio has fluctuated over the period from March 31, 2020, to December 31, 2024, ranging from a low of 7.83 days to a high of 25.37 days. The ratio indicates the average number of days the company holds inventory before selling it, reflecting efficiency in managing its inventory levels. The company experienced a significant decrease in DOH from September 2022 to March 2023, showing an improvement in inventory turnover. However, a subsequent increase in DOH by September 2023 suggests a potential build-up in inventory levels during that period.

On the other hand, the Days of Sales Outstanding (DSO) ratio, which represents the average number of days it takes for the company to collect revenue after a sale, has also varied throughout the period. The ratio ranged from 19.07 days to 39.26 days, indicating fluctuations in the company's accounts receivable management. Notably, the DSO ratio peaked in December 2024, suggesting a potential increase in the collection period for receivables during that quarter.

Lastly, the Number of Days of Payables ratio reflects the average number of days it takes for the company to pay its suppliers. ONEOK Inc's payables period ranged from 23.21 days to 59.97 days over the period under review. The decreasing trend in payables days from March 2023 to December 2024 indicates the company's ability to manage its payables more efficiently during this time, potentially improving its working capital position.

Overall, a detailed analysis of ONEOK Inc's activity ratios reveals fluctuations in inventory management, accounts receivable collection, and accounts payable payment over the specified time frame, highlighting the company's efficiency in managing its operating cycle and working capital requirements.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	0.47	0.58	0.55	0.52	0.52	0.54	0.95	1.07	1.12	1.15	1.09	0.97	0.86	0.71	0.59	0.50	0.45	0.45	0.46	0.51
Total asset turnover	0.34	0.38	0.41	0.39	0.39	0.39	0.80	0.88	0.92	0.93	0.87	0.78	0.70	0.57	0.48	0.41	0.37	0.38	0.38	0.43

The fixed asset turnover ratio for ONEOK Inc has shown a fluctuating trend over the years, ranging from as low as 0.45 to as high as 1.15. This ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. The increase in the ratio over the years indicates that ONEOK Inc has been able to generate more revenue per dollar of fixed assets invested, reflecting improved efficiency in utilizing its long-term assets.

On the other hand, the total asset turnover ratio, which measures the company's ability to generate sales from its total assets, has also displayed variability, ranging from 0.34 to 0.93. The ratio has generally increased over the years, indicating that ONEOK Inc has been more successful in generating sales from its total asset base.

Overall, the increasing trends in both fixed asset turnover and total asset turnover ratios suggest that ONEOK Inc has been improving its asset utilization efficiency and generating more revenue from its long-term assets and total asset base.