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

Company name
Symbol
Debt-to-assets ratio
ONEOK Inc
OKE
0.48
Chesapeake Utilities Corporation
CPK
0.36
Southwest Gas Holdings Inc
SWX
0.39

See also:

ONEOK Inc Debt to Assets (Quarterly Data)