Enterprise Products vs Oneok
Enterprise Products reported revenue of $52.6 billion in fiscal 2025, 1.6 times Oneok's $33.6 billion in fiscal 2025. Enterprise Products' revenue fell 6.4% in its latest year, and Oneok's grew 55.0%. Enterprise Products had an operating margin of 13.8%, against 17.1% at Oneok. Free cash flow was $3.0 billion at Enterprise Products and $2.4 billion at Oneok.
Side by side
| Enterprise Products | Oneok | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $52.6B | $33.6B |
| Revenue growth | −6.4% | 55.0% |
| Revenue growth a year, last 5 years | 14.1% | 31.5% |
| Gross margin | 26.7% | 30.5% |
| Operating margin | 13.8% | 17.1% |
| Net margin | 11.1% | 10.1% |
| Free cash flow | $3.0B | $2.4B |
| Free cash flow margin | 5.6% | 7.3% |
| Return on capital | 11.6% | 8.1% |
| Net debt to EBITDA | 3.5x | 4.5x |
| Dividends and buybacks | $300M | $2.7B |
| Change in diluted share count | −0.2% | 6.7% |
| Last close | $37.00 | $96.36 |
| P/E at the last close | — | 16.6× |
| Insider trades, last 12 months | bought $581,421, sold $0 | bought $165,000, sold $0 |
| Piotroski F-score | 6 of 9 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Enterprise ProductsOneok
Operating margin
Percent of revenue
Enterprise ProductsOneok
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Enterprise ProductsOneok
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Enterprise Products and Oneok pages.