Oneok vs Targa Resources
Oneok reported revenue of $33.6 billion in fiscal 2025, 2.0 times Targa Resources' $17.0 billion in fiscal 2025. Oneok's revenue grew 55.0% in its latest year, and Targa Resources' grew 4.0%. Oneok had an operating margin of 17.1%, against 19.6% at Targa Resources. Free cash flow was $2.4 billion at Oneok and $584 million at Targa Resources.
Side by side
| Oneok | Targa Resources | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $33.6B | $17.0B |
| Revenue growth | 55.0% | 4.0% |
| Revenue growth a year, last 5 years | 31.5% | 15.6% |
| Gross margin | 30.5% | 38.3% |
| Operating margin | 17.1% | 19.6% |
| Net margin | 10.1% | 11.3% |
| Free cash flow | $2.4B | $584M |
| Free cash flow margin | 7.3% | 3.4% |
| Return on capital | 8.1% | 13.3% |
| Net debt to EBITDA | 4.5x | 3.6x |
| Dividends and buybacks | $2.7B | $642M |
| Change in diluted share count | 6.7% | −2.0% |
| Last close | $96.36 | $304.68 |
| P/E at the last close | 16.6× | 29.1× |
| Insider trades, last 12 months | bought $165,000, sold $0 | sold $34.3 million |
| Piotroski F-score | 5 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ 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
OneokTarga Resources
Operating margin
Percent of revenue
OneokTarga Resources
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
OneokTarga Resources
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 Oneok and Targa Resources pages.