ONEOK (OKE) FY2019 results: revenue $10.2 billion, down 19.3% on the year
ONEOK Inc. (OKE) reported revenue of $10.2 billion for fiscal 2019, the year ended 31 December 2019, down 19.3% on the year before. Net income was $1.3 billion, up 11.0%, and diluted earnings per share $3.07. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$10.2 billion
-19.3% on the year
FY2012FY2019
Operating margin
18.8%
14.6% a year earlier
FY2012FY2019
Net income
$1.3 billion
+11.0% on the year
FY2012FY2019
Diluted EPS
$3.07
+10.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,164
12,593
12,174
-19.3%
Cost of revenue
6,788
9,423
9,538
-28.0%
Gross profit
3,376
3,170
2,636
+6.5%
Gross margin
33.2%
25.2%
21.7%
Operating income
1,914
1,835
1,392
+4.3%
Operating margin
18.8%
14.6%
11.4%
Interest expense
492
470
486
+4.7%
Pre-tax income
1,651
1,518
1,041
+8.8%
Income tax
372
363
447
+2.6%
Effective tax rate
22.6%
23.9%
43.0%
Net income
1,279
1,152
388
+11.0%
Net margin
12.6%
9.1%
3.2%
Diluted EPS
$3.07
$2.78
$1.29
+10.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,947
2,187
1,315
-11.0%
Capital expenditure
3,848
2,141
512
+79.7%
Free cash flow
-1,902
45.2
803
Free cash flow margin
-18.7%
0.4%
6.6%
Cash from investing
-3,769
-2,115
-568
Cash from financing
1,831
-97.0
-959
Depreciation and amortisation
477
429
406
+11.2%
Share-based compensation
37.1
31.7
26.3
+17.3%
Dividends paid
1,458
1,335
829
+9.2%
Dividend per share
$3.53
$3.25
$2.72
+8.8%
Diluted shares, weighted
415m
414m
300m
+0.3%
Shares outstanding at period end
413m
412m
389m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,226
6,580
5,528
-5.4%
Non-controlling interest
n/a
0.0
157
Short-term borrowings
n/a
0.0
n/a
Debt
12,707
9,400
9,139
+35.2%
Operating lease liabilities
13.5
n/a
n/a
Finance lease liabilities
24.3
26.2
n/a
-7.4%
Other liabilities
2,841
2,226
2,022
+27.6%
Total liabilities and equity
21,812
18,232
16,846
+19.6%
Fixed assets
18,349
14,767
12,698
+24.3%
Goodwill
681
681
681
-0.0%
Intangible assets
277
286
312
-3.2%
Cash and equivalents
21.0
12.0
37.2
+75.0%
Receivables
835
819
1,203
+2.0%
Inventory
305
297
342
+2.8%
Other assets
1,345
1,370
1,572
-1.9%
Total assets
21,812
18,232
16,846
+19.6%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.