ONEOK (OKE) FY2017 results: revenue $12.2 billion, up 36.5% on the year
ONEOK Inc. (OKE) reported revenue of $12.2 billion for fiscal 2017, the year ended 31 December 2017, up 36.5% on the year before. Net income was $388 million, up 10.2%, and diluted earnings per share $1.29. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$12.2 billion
+36.5% on the year
FY2010FY2017
Operating margin
11.4%
14.5% a year earlier
FY2010FY2017
Net income
$388 million
+10.2% on the year
FY2010FY2017
Diluted EPS
$1.29
-22.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
12,174
8,921
7,763
+36.5%
Cost of revenue
9,538
6,496
5,641
+46.8%
Gross profit
2,636
2,425
2,122
+8.7%
Gross margin
21.7%
27.2%
27.3%
Operating income
1,392
1,296
996
+7.4%
Operating margin
11.4%
14.5%
12.8%
Interest expense
486
470
417
+3.4%
Pre-tax income
1,041
958
522
+8.6%
Income tax
447
212
137
+110.6%
Effective tax rate
43.0%
22.2%
26.2%
Net income
388
352
245
+10.2%
Net margin
3.2%
3.9%
3.2%
Diluted EPS
$1.29
$1.66
$1.16
-22.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,315
1,352
1,023
-2.7%
Capital expenditure
512
625
1,188
-18.0%
Free cash flow
803
727
-165
+10.5%
Free cash flow margin
6.6%
8.1%
-2.1%
Cash from investing
-568
-615
-1,191
Cash from financing
-959
-587
92.7
Depreciation and amortisation
406
392
355
+3.8%
Share-based compensation
26.3
40.6
16.4
-35.3%
Dividends paid
829
518
509
+60.2%
Dividend per share
$2.72
$2.46
$2.43
+10.6%
Diluted shares, weighted
300m
212m
211m
+41.2%
Shares outstanding at period end
389m
211m
210m
+84.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,528
189
336
+2,828.7%
Non-controlling interest
157
3,240
3,431
-95.1%
Debt
9,139
9,441
8,981
-3.2%
Other liabilities
2,022
3,269
2,699
-38.2%
Total liabilities and equity
16,846
16,139
15,446
+4.4%
Fixed assets
12,698
12,571
12,374
+1.0%
Goodwill
681
526
526
+29.6%
Intangible assets
312
480
492
-34.9%
Cash and equivalents
37.2
249
97.6
-85.1%
Receivables
1,203
872
594
+37.9%
Inventory
342
140
128
+144.4%
Other assets
1,572
1,301
1,235
+20.9%
Total assets
16,846
16,139
15,446
+4.4%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.