ONEOK (OKE) FY2011 results: revenue $11.3 billion, down 10.7% on the year
ONEOK Inc. (OKE) reported revenue of $11.3 billion for fiscal 2011, the year ended 31 December 2011, down 10.7% on the year before. Net income was $361 million, up 7.8%, and diluted earnings per share $1.68. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2012.
Revenue
$11.3 billion
-10.7% on the year
FY2007FY2011
Operating margin
8.1%
7.4% a year earlier
FY2007FY2011
Net income
$361 million
+7.8% on the year
FY2007FY2011
Diluted EPS
$1.68
+8.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
11,325
12,679
10,806
-10.7%
Cost of revenue
9,745
10,617
8,808
-8.2%
Gross profit
1,580
2,062
1,998
-23.4%
Gross margin
13.9%
16.3%
18.5%
Operating income
922
944
883
-2.3%
Operating margin
8.1%
7.4%
8.2%
Interest expense
240
292
301
-17.9%
Pre-tax income
806
754
687
+7.0%
Income tax
162
214
203
-24.5%
Effective tax rate
20.0%
28.4%
29.6%
Net income
361
335
305
+7.8%
Net margin
3.2%
2.6%
2.8%
Diluted EPS
$1.68
$1.55
$1.44
+8.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,356
834
1,453
+62.6%
Capital expenditure
1,336
583
791
+129.3%
Free cash flow
20.1
251
661
-92.0%
Free cash flow margin
0.2%
2.0%
6.1%
Cash from investing
-1,372
-134
-788
Cash from financing
59.2
-698
-1,146
Depreciation and amortisation
180
307
289
-41.6%
Share-based compensation
66.4
24.4
23.1
+172.3%
Buybacks
300
0.0
0.3
+4,287,157.1%
Dividends paid
227
194
173
+17.3%
Dividend per share
$1.08
$0.91
$0.82
+18.7%
Diluted shares, weighted
214m
216m
213m
-0.5%
Shares outstanding at period end
207m
214m
212m
-3.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,239
2,449
2,207
-8.6%
Non-controlling interest
1,561
1,472
1,238
+6.0%
Debt
5,736
4,887
4,602
+17.4%
Other liabilities
4,161
3,692
4,780
+12.7%
Total liabilities and equity
13,697
12,499
12,828
+9.6%
Fixed assets
8,444
7,313
7,794
+15.5%
Goodwill
602
603
n/a
-0.2%
Intangible assets
412
420
n/a
-1.8%
Cash and equivalents
56.7
26.2
30.9
+116.4%
Receivables
1,340
1,284
1,438
+4.4%
Inventory
550
707
583
-22.2%
Other assets
2,292
2,146
2,982
+6.8%
Total assets
13,697
12,499
12,828
+9.6%
10-K for the year ended 31 December 2011, filed 21 February 2012: the filing.