OKE vs. KMI

Last updated Apr 2, 2026

Compare and contrast key facts about ONEOK, Inc. (OKE) and Kinder Morgan, Inc. (KMI).

Performance

OKE vs. KMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ONEOK, Inc. (OKE) and Kinder Morgan, Inc. (KMI). The values are adjusted to include any dividend payments, if applicable.

OKE vs. KMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OKE ONEOK, Inc.	20.49%	-22.94%	50.10%	13.21%	18.86%	64.67%	-43.45%	47.76%	6.27%	-2.12%
KMI Kinder Morgan, Inc.	20.77%	4.74%	64.42%	4.10%	21.23%	23.75%	-30.77%	44.43%	-11.18%	-10.56%

Fundamentals

Market Cap OKE : $55.14B KMI : $73.16B
EPS OKE : $5.40 KMI : $1.32
PE Ratio OKE : 16.19 KMI : 24.99
PEG Ratio OKE : 1.15 KMI : 0.06
PS Ratio OKE : 1.63 KMI : 4.31
PB Ratio OKE : 2.45 KMI : 2.35
Total Revenue (TTM) OKE : $33.63B KMI : $16.95B
Gross Profit (TTM) OKE : $7.22B KMI : $4.34B
EBITDA (TTM) OKE : $8.60B KMI : $7.08B

Returns By Period

The year-to-date returns for both investments are quite close, with OKE having a 20.49% return and KMI slightly higher at 20.77%. Over the past 10 years, OKE has outperformed KMI with an annualized return of 18.80%, while KMI has yielded a comparatively lower 12.14% annualized return.

OKE

• 1D: -3.35%
• 1M: 1.44%
• YTD: 20.49%
• 6M: 23.24%
• 1Y: -7.31%
• 3Y*: 17.18%
• 5Y*: 17.68%
• 10Y*: 18.80%

KMI

• 1D: -1.94%
• 1M: -2.98%
• YTD: 20.77%
• 6M: 18.63%
• 1Y: 19.79%
• 3Y*: 30.10%
• 5Y*: 20.96%
• 10Y*: 12.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

OKE vs. KMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OKE

OKE Risk / Return Rank: 30
OKE Sharpe Ratio Rank: 30
OKE Sortino Ratio Rank: 26
OKE Omega Ratio Rank: 26
OKE Calmar Ratio Rank: 34
OKE Martin Ratio Rank: 35

KMI

KMI Risk / Return Rank: 67
KMI Sharpe Ratio Rank: 70
KMI Sortino Ratio Rank: 60
KMI Omega Ratio Rank: 62
KMI Calmar Ratio Rank: 71
KMI Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OKE vs. KMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ONEOK, Inc. (OKE) and Kinder Morgan, Inc. (KMI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	OKE	KMI	Difference
Sharpe ratio Return per unit of total volatility	-0.24	0.86	-1.10
Sortino ratio Return per unit of downside risk	-0.11	1.19	-1.30
Omega ratio Gain probability vs. loss probability	0.98	1.18	-0.19
Calmar ratio Return relative to maximum drawdown	-0.21	1.58	-1.79
Martin ratio Return relative to average drawdown	-0.34	3.58	-3.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OKE vs. KMI - Sharpe Ratio Comparison

The current OKE Sharpe Ratio is -0.24, which is lower than the KMI Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of OKE and KMI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	OKE	KMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	0.86	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.94	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.44	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.18	+0.21

Correlation

The correlation between OKE and KMI is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

OKE vs. KMI - Dividend Comparison

OKE's dividend yield for the trailing twelve months is around 4.76%, more than KMI's 3.56% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OKE ONEOK, Inc.	4.76%	5.61%	3.94%	5.44%	5.69%	6.36%	9.74%	4.66%	6.01%	5.09%	4.28%	9.85%
KMI Kinder Morgan, Inc.	3.56%	4.24%	4.18%	6.38%	6.10%	6.76%	7.59%	4.49%	4.71%	2.77%	2.41%	12.94%

Drawdowns

OKE vs. KMI - Drawdown Comparison

The maximum OKE drawdown since its inception was -80.17%, which is greater than KMI's maximum drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for OKE and KMI.

Drawdown Indicators

	OKE	KMI	Difference
Max Drawdown Largest peak-to-trough decline	-80.17%	-72.70%	-7.47%
Max Drawdown (1Y) Largest decline over 1 year	-33.27%	-12.83%	-20.44%
Max Drawdown (5Y) Largest decline over 5 years	-42.17%	-20.31%	-21.86%
Max Drawdown (10Y) Largest decline over 10 years	-80.17%	-55.13%	-25.04%
Current Drawdown Current decline from peak	-20.36%	-3.49%	-16.87%
Average Drawdown Average peak-to-trough decline	-16.66%	-32.36%	+15.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.95%	5.64%	+15.31%

Volatility

OKE vs. KMI - Volatility Comparison

ONEOK, Inc. (OKE) has a higher volatility of 6.91% compared to Kinder Morgan, Inc. (KMI) at 5.72%. This indicates that OKE's price experiences larger fluctuations and is considered to be riskier than KMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OKE	KMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.91%	5.72%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	18.15%	14.40%	+3.75%
Volatility (1Y) Calculated over the trailing 1-year period	30.92%	22.99%	+7.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.98%	22.48%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.01%	27.90%	+11.11%

Financials

OKE vs. KMI - Profitability Comparison

The chart below illustrates the profitability comparison between ONEOK, Inc. and Kinder Morgan, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OKE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, ONEOK, Inc. reported a gross profit of 2.67B and revenue of 9.07B. Therefore, the gross margin over that period was 29.4%.

KMI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Kinder Morgan, Inc. reported a gross profit of 0.00 and revenue of 4.51B. Therefore, the gross margin over that period was 0.0%.

OKE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, ONEOK, Inc. reported an operating income of 2.69B and revenue of 9.07B, resulting in an operating margin of 29.7%.

KMI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Kinder Morgan, Inc. reported an operating income of 1.36B and revenue of 4.51B, resulting in an operating margin of 30.3%.

OKE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, ONEOK, Inc. reported a net income of 979.00M and revenue of 9.07B, resulting in a net margin of 10.8%.

KMI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Kinder Morgan, Inc. reported a net income of 866.00M and revenue of 4.51B, resulting in a net margin of 19.2%.