ONEOK Inc (OKE)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Total stockholders’ equity | US$ in thousands | 16,484,000 | 16,299,000 | 7,218,000 | 7,132,000 | 6,494,000 | 6,312,000 | 6,115,000 | 5,994,000 | 6,015,000 | 5,840,880 | 5,910,390 | 6,096,960 | 6,042,400 | 6,146,110 | 6,240,650 | 5,560,640 | 6,225,950 | 6,218,910 | 6,348,140 | 6,442,010 |
| Financial leverage ratio | 2.69 | 2.70 | 3.33 | 3.43 | 3.75 | 3.87 | 4.01 | 4.00 | 3.93 | 4.09 | 3.97 | 3.80 | 3.82 | 3.71 | 3.68 | 3.95 | 3.50 | 3.43 | 3.11 | 2.94 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $44,266,000K ÷ $16,484,000K
= 2.69
The financial leverage ratio for Oneok Inc. has shown a decreasing trend from Q4 2022 to Q3 2023, indicating a reduction in the company's reliance on debt to finance its operations and investments. The ratio dropped from 3.75 in Q4 2022 to 2.70 in Q3 2023 before slightly increasing to 2.69 in Q4 2023. This decline suggests that the company has been able to strengthen its financial position by either reducing its debt levels or increasing its equity base.
However, it is noteworthy that the financial leverage ratio spiked to 4.01 in Q2 2022, which indicates that during that period, Oneok Inc. had a higher level of debt relative to its equity. This could have potentially raised concerns about the company's financial risk and solvency. Subsequently, the ratio gradually decreased in the following quarters.
Overall, the decreasing trend in the financial leverage ratio of Oneok Inc. from Q4 2022 to Q3 2023 reflects a positive development in the company's capital structure, suggesting a more balanced mix of debt and equity financing. Investors and stakeholders may view this trend favorably as it demonstrates an improvement in the company's financial health and risk management.
Peer comparison
Dec 31, 2023