ONEOK Inc (OKE)
Solvency ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.48 | 0.53 | 0.46 | 0.46 | 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 |
| Debt-to-capital ratio | 0.65 | 0.61 | 0.55 | 0.55 | 0.56 | 0.57 | 0.64 | 0.64 | 0.66 | 0.65 | 0.68 | 0.68 | 0.68 | 0.70 | 0.70 | 0.69 | 0.70 | 0.70 | 0.70 | 0.72 |
| Debt-to-equity ratio | 1.82 | 1.59 | 1.22 | 1.24 | 1.29 | 1.32 | 1.77 | 1.78 | 1.96 | 1.89 | 2.11 | 2.13 | 2.12 | 2.34 | 2.31 | 2.24 | 2.35 | 2.32 | 2.29 | 2.54 |
| Financial leverage ratio | 3.76 | 3.02 | 2.67 | 2.70 | 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 |
The solvency ratios of ONEOK Inc have shown a improving trend over the past few years. The Debt-to-assets ratio has decreased from 0.64 in March 2020 to 0.48 in December 2024, indicating that the company's level of debt in proportion to its total assets has decreased over time.
Similarly, the Debt-to-capital ratio has also decreased from 0.72 in March 2020 to 0.65 in December 2024, reflecting a positive trend in the company's ability to meet its financial obligations using its capital structure.
The Debt-to-equity ratio has shown a declining trend from 2.54 in March 2020 to 1.82 in December 2024, suggesting a decrease in the company's reliance on debt funding in relation to shareholder equity.
The Financial leverage ratio has displayed a downward trend, decreasing from 3.95 in March 2020 to 3.76 in December 2024. This indicates an improvement in the company's ability to meet its financial obligations and suggests a strengthening financial position.
Overall, the decreasing trend in these solvency ratios reflects positively on ONEOK Inc's ability to manage its debt levels and financial obligations, signaling an improvement in its solvency position over the years.
Coverage ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 14.25 | 7.06 | 4.94 | 3.64 | 4.70 | 5.13 | 5.44 | 5.44 | 4.15 | 3.93 | 3.79 | 3.61 | 3.54 | 3.39 | 3.27 | 2.78 | 1.91 | 2.06 | 2.19 | 2.96 |
The interest coverage ratio of ONEOK Inc has shown fluctuations over the periods provided. The ratio has generally been above 1, indicating that the company's operating income is sufficient to cover its interest expenses.
From March 31, 2020, to December 31, 2021, the interest coverage ratio ranged between 1.91 and 3.61, with some volatility. This indicates fluctuations in the company's ability to cover its interest payments during this period.
From March 31, 2022, onwards, the interest coverage ratio improved consistently, reaching a peak of 14.25 on December 31, 2024. This significant increase in the ratio suggests a substantial improvement in the company's ability to meet its interest obligations with its operating earnings.
Overall, the trend in ONEOK Inc's interest coverage ratio indicates varying levels of financial health and stability, with recent periods showing a marked improvement in the company's ability to service its debt obligations from its operating income.