ONEOK Inc (OKE)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 21,183,000 | 12,696,000 | 12,747,600 | 14,228,400 | 12,479,800 |
| Total assets | US$ in thousands | 44,266,000 | 24,379,000 | 23,621,600 | 23,078,800 | 21,812,100 |
| Debt-to-assets ratio | 0.48 | 0.52 | 0.54 | 0.62 | 0.57 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $21,183,000K ÷ $44,266,000K
= 0.48
The debt-to-assets ratio of Oneok Inc. has shown a decreasing trend over the past five years, indicating an improvement in the company's leverage position. The ratio decreased from 0.58 in 2019 to 0.49 in 2023. This decline suggests that the company has been able to reduce its reliance on debt funding in relation to its total assets, possibly through increased profitability or effective management of debt levels. A lower debt-to-assets ratio generally signifies lower financial risk and greater financial stability for the company. Therefore, based on this trend, Oneok Inc. appears to have strengthened its financial position in terms of leverage over the years.
Peer comparison
Dec 31, 2023