ONEOK (OKE) FY2018 results: revenue $12.6 billion, up 3.4% on the year
ONEOK Inc. (OKE) reported revenue of $12.6 billion for fiscal 2018, the year ended 31 December 2018, up 3.4% on the year before. Net income was $1.2 billion, up 197.0%, and diluted earnings per share $2.78. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$12.6 billion
+3.4% on the year
FY2011FY2018
Operating margin
14.6%
11.4% a year earlier
FY2011FY2018
Net income
$1.2 billion
+197.0% on the year
FY2011FY2018
Diluted EPS
$2.78
+115.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
12,593
12,174
8,921
+3.4%
Cost of revenue
9,423
9,538
6,496
-1.2%
Gross profit
3,170
2,636
2,425
+20.3%
Gross margin
25.2%
21.7%
27.2%
Operating income
1,835
1,392
1,296
+31.9%
Operating margin
14.6%
11.4%
14.5%
Interest expense
470
486
470
-3.3%
Pre-tax income
1,518
1,041
958
+45.8%
Income tax
363
447
212
-18.9%
Effective tax rate
23.9%
43.0%
22.2%
Net income
1,152
388
352
+197.0%
Net margin
9.1%
3.2%
3.9%
Diluted EPS
$2.78
$1.29
$1.66
+115.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,187
1,315
1,352
+66.2%
Capital expenditure
2,141
512
625
+317.9%
Free cash flow
45.2
803
727
-94.4%
Free cash flow margin
0.4%
6.6%
8.1%
Cash from investing
-2,115
-568
-615
Cash from financing
-97.0
-959
-587
Depreciation and amortisation
429
406
392
+5.5%
Share-based compensation
31.7
26.3
40.6
+20.6%
Dividends paid
1,335
829
518
+61.0%
Dividend per share
$3.25
$2.72
$2.46
+19.3%
Diluted shares, weighted
414m
300m
212m
+38.2%
Shares outstanding at period end
412m
389m
211m
+5.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
6,580
5,528
189
+19.0%
Non-controlling interest
0.0
157
3,240
Short-term borrowings
0.0
n/a
n/a
Debt
9,400
9,139
9,441
+2.9%
Finance lease liabilities
26.2
n/a
n/a
Other liabilities
2,226
2,022
3,269
+10.1%
Total liabilities and equity
18,232
16,846
16,139
+8.2%
Fixed assets
14,767
12,698
12,571
+16.3%
Goodwill
681
681
526
0.0%
Intangible assets
286
312
480
-8.4%
Cash and equivalents
12.0
37.2
249
-67.8%
Receivables
819
1,203
872
-31.9%
Inventory
297
342
140
-13.3%
Other assets
1,370
1,572
1,301
-12.8%
Total assets
18,232
16,846
16,139
+8.2%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.