Kinder Morgan vs Oneok
Oneok reported revenue of $33.6 billion in fiscal 2025, 2.0 times Kinder Morgan's $16.9 billion in fiscal 2025. Kinder Morgan's revenue grew 12.2% in its latest year, and Oneok's grew 55.0%. Kinder Morgan had an operating margin of 27.9%, against 17.1% at Oneok. Free cash flow was $2.9 billion at Kinder Morgan and $2.4 billion at Oneok.
Side by side
| Kinder Morgan | Oneok | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $16.9B | $33.6B |
| Revenue growth | 12.2% | 55.0% |
| Revenue growth a year, last 5 years | 7.7% | 31.5% |
| Gross margin | — | 30.5% |
| Operating margin | 27.9% | 17.1% |
| Net margin | 18.0% | 10.1% |
| Free cash flow | $2.9B | $2.4B |
| Free cash flow margin | 17.1% | 7.3% |
| Return on capital | 5.8% | 8.1% |
| Net debt to EBITDA | 4.5x | 4.5x |
| Dividends and buybacks | $2.6B | $2.7B |
| Change in diluted share count | 0.1% | 6.7% |
| Last close | $33.94 | $96.36 |
| P/E at the last close | 21.0× | 16.6× |
| Insider trades, last 12 months | bought $26.2 million, sold $3.0 million | bought $165,000, sold $0 |
| Piotroski F-score | 7 of 8 | 5 of 9 |
Amounts in each company's own currency, US$ 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
Kinder MorganOneok
Operating margin
Percent of revenue
Kinder MorganOneok
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Kinder MorganOneok
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 Kinder Morgan and Oneok pages.