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Segment Adjusted EBITDA Breakdown
Allocates adjusted EBITDA to each operating segment so you can see which businesses generate the most profit and their relative margins. Helps investors identify where earnings are concentrated and which segments drive dividend support and future cash generation.ONEOK’s EBITDA mix is clearly diversifying: NGLs remain a big contributor but Gathering & Processing, Pipelines and Refined Products have meaningfully ramped, reflecting the company’s capacity adds, stronger throughput and export demand cited on the call and supporting the raised 2026 guidance. Caveats: Q1 is seasonally weak, aggressive early hedging trimmed near‑term realized prices, and recent Waha‑to‑Katy differential benefits may normalize in H2—so upside could moderate even as more fee‑like, less commodity‑sensitive cash flow builds toward mid‑2027.
Date | Natural Gas Gathering & Processing | Natural Gas Liquids | Natural Gas Pipelines | Refined Products & Crude |
|---|---|---|---|---|
Jun 30, 2026 | $546.00M | $659.00M | $297.00M | $627.00M |
Mar 31, 2026 | $467.00M | $706.00M | $339.00M | $492.00M |
Dec 31, 2025 | $541.00M | $723.00M | $261.00M | $567.00M |
Sep 30, 2025 | $566.00M | $748.00M | $200.00M | $582.00M |
Jun 30, 2025 | $540.00M | $673.00M | $188.00M | $557.00M |
Mar 31, 2025 | $491.00M | $635.00M | $212.00M | $471.00M |
Dec 31, 2024 | $489.00M | $696.00M | $417.00M | $603.00M |
Sep 30, 2024 | $318.00M | $624.00M | $166.00M | $441.00M |
Jun 30, 2024 | $371.00M | $635.00M | $152.00M | $467.00M |
Mar 31, 2024 | $306.00M | $588.00M | $165.00M | $381.00M |