ONEOK Inc (OKE)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 21,183,000 | 21,450,000 | 12,742,000 | 12,728,000 | 12,696,000 | 11,950,700 | 12,872,700 | 12,750,500 | 12,747,600 | 13,640,500 | 13,637,600 | 13,638,800 | 14,228,400 | 14,249,300 | 14,276,200 | 14,146,600 | 12,479,800 | 12,479,500 | 10,754,100 | 10,004,300 |
| Total assets | US$ in thousands | 44,266,000 | 43,939,000 | 24,038,000 | 24,464,000 | 24,379,000 | 24,439,000 | 24,527,000 | 23,993,000 | 23,621,600 | 23,872,300 | 23,437,200 | 23,179,900 | 23,078,800 | 22,780,900 | 22,992,500 | 21,969,400 | 21,812,100 | 21,335,900 | 19,751,600 | 18,934,300 |
| Debt-to-assets ratio | 0.48 | 0.49 | 0.53 | 0.52 | 0.52 | 0.49 | 0.52 | 0.53 | 0.54 | 0.57 | 0.58 | 0.59 | 0.62 | 0.63 | 0.62 | 0.64 | 0.57 | 0.58 | 0.54 | 0.53 |
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 for Oneok Inc. has shown a fluctuating trend over the past eight quarters. The ratio decreased from 0.56 in Q4 2022 to 0.49 in Q4 2023, indicating a slight improvement in the company's ability to cover its assets with debt. However, this improvement was followed by a gradual increase in the ratio in the subsequent quarters, reaching 0.54 by Q1 2023.
Overall, the company has maintained its debt-to-assets ratio within the range of 0.49 to 0.57 over the past two years. A higher debt-to-assets ratio signifies that a larger portion of the company's assets is financed by debt, which may indicate higher financial risk. However, it is essential to consider industry benchmarks and the company's specific circumstances when evaluating the significance of this ratio. Further analysis of Oneok Inc.'s financial position and cash flow management practices would provide additional insights into its debt utilization strategy.
Peer comparison
Dec 31, 2023