ONEOK Inc (OKE)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 3,497,000 | 2,249,640 | 1,984,200 | 802,316 | 1,650,990 |
| Revenue | US$ in thousands | 16,811,000 | 22,386,900 | 16,540,300 | 8,542,240 | 10,164,400 |
| Pretax margin | 20.80% | 10.05% | 12.00% | 9.39% | 16.24% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $3,497,000K ÷ $16,811,000K
= 20.80%
The pretax margin of Oneok Inc., a measure of a company's operating efficiency and profitability before taxes, has exhibited varying trends over the past five years.
In 2019, the pretax margin stood at 16.24%, indicating that for every dollar of revenue generated, the company retained about 16.24 cents before taxes. The margin then decreased to 9.39% in 2020, reflecting a decline in profitability. However, in 2021, there was a notable improvement as the pretax margin increased to 12.00%.
The most significant advancement in the pretax margin occurred in 2022, when it surged to 10.05%, signifying enhanced operational efficiency and better cost management. This positive trend continued into 2023, with the pretax margin reaching its peak at 19.78%. This substantial increase reflects the company's ability to generate higher earnings relative to its revenue, potentially due to increased sales, cost-cutting measures, or improved overall financial performance.
Overall, the fluctuation in Oneok Inc.'s pretax margin over the five-year period highlights the company's adaptability to changing market conditions and its efforts to enhance profitability through operational efficiencies.
Peer comparison
Dec 31, 2023