Discounted Cash Flow

Oneok Inc. /New/

OKE · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $8.9b $352.0m $727.0m 3.9% $1.67
2017 $12.2b (36.5%) $387.8m (10.2%) $803.0m (10.5%) 3.2% (-19.3%) $1.30 (-22.2%)
2018 $12.6b (3.4%) $1.2b (197.0%) $45.2m (-94.4%) 9.1% (187.1%) $2.80 (115.4%)
2019 $10.2b (-19.3%) $1.3b (11.0%) $-1.9b (-4302.9%) 12.6% (37.5%) $3.09 (10.4%)
2020 $8.5b (-16.0%) $612.8m (-52.1%) $-296.3m (84.4%) 7.2% (-43.0%) $1.42 (-54.0%)
2021 $16.5b (93.6%) $1.5b (144.5%) $1.8b (724.1%) 9.1% (26.3%) $3.36 (136.6%)
2022 $22.4b (35.3%) $1.7b (14.8%) $1.7b (-7.9%) 7.7% (-15.1%) $3.85 (14.6%)
2023 $17.7b (-21.0%) $2.7b (54.4%) $2.8b (65.9%) 15.0% (95.6%) $5.49 (42.6%)
2024 $21.7b (22.7%) $3.0b (14.2%) $2.9b (1.5%) 14.0% (-7.0%) $5.19 (-5.5%)
2025 $33.6b (55.0%) $3.4b (11.8%) $2.4b (-14.6%) 10.1% (-27.9%) $5.43 (4.6%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model