Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $8,542 | $16,540 | $22,387 | $17,677 | $21,698 |
| Gross Profit | $3,432 | $4,284 | $4,477 | $5,748 | $8,387 |
| Operating Income | $1,361 | $2,596 | $2,807 | $4,072 | $4,989 |
| Net Income | $613 | $1,500 | $1,722 | $2,659 | $3,035 |
Over the five-year period, ONEOK’s financial performance reveals both rapid growth and volatility typical of a midstream energy company navigating shifting market conditions. The revenue jumped dramatically from approximately USD 8.5 billion in 2020 to USD 16.5 billion in 2021, marking an almost 94% increase—a likely reflection of an expanding pipeline and gas processing segment. This strong momentum continued into 2022 with revenue rising to roughly USD 22.4 billion (a 35% increase from 2021), before experiencing a notable contraction of about 21% in 2023, falling to USD 17.7 billion. Revenue then recovered in 2024 to USD 21.7 billion, indicating a rebound amid market adjustments. Gross profit, operating income, and net income generally trended upward across the period despite the revenue dip in 2023. Gross profit grew from USD 3.4 billion in 2020 to an impressive USD 8.4 billion in 2024, with particularly strong year-over-year improvements in 2023 and 2024 suggesting increased operational efficiency or higher margin projects. Operating income more than tripled from USD 1.36 billion in 2020 to nearly USD 5.0 billion in 2024. Similarly, net income more than quadrupled, growing from USD 613 million to over USD 3.0 billion. These significant swings, especially the revenue volatility and robust improvements in profitability, may stem from strategic operational adjustments and evolving market demands within the natural gas and midstream sectors. Overall, ONEOK’s financials indicate resilience and a capacity to generate increasing bottom-line results, supporting a positive outlook on its sustainability and operational health in an industry marked by cyclical challenges.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.