ONEOK Partners LP

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OKS : NYSE : Basic Materials
$46.94 up 0.44 | 0.95%
Today's Range: 46.54 - 47.77
Avg. Daily Volume: 994600.0
06/22/17 - 4:02 PM ET

Financial Analysis


ONEOK PARTNERS -LP's gross profit margin for the first quarter of its fiscal year 2017 has significantly decreased when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not. ONEOK PARTNERS -LP has very weak liquidity. Currently, the Quick Ratio is 0.28 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 3.41% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)2749.071773.95
EBITDA ($mil)423.06407.83
EBIT ($mil)324.43314.09
Net Income ($mil)269.12253.52


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)8.489.88
Total Assets ($mil)15341.9414944.72
Total Debt ($mil)7989.337594.46
Equity ($mil)6004.876217.32


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin15.3922.99
EBITDA Margin15.3822.98
Operating Margin11.817.71
Sales Turnover0.640.52
Return on Assets7.054.66
Return on Equity18.0211.21
Debt Q1 FY17 Q1 FY16
Current Ratio0.40.5
Debt/Capital0.570.55
Interest Expense92.1595.44
Interest Coverage3.523.29


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)285.83285.83
Div / share0.790.79
EPS0.570.52
Book value / share21.0121.75
Institutional Own % n/a n/a
Avg Daily Volume935093.01270062.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 51.24 for the Oil, Gas & Consumable Fuels industry and a discount compared to the S&P 500 average of 25.73. To use another comparison, its price-to-book ratio of 2.29 indicates a discount versus the S&P 500 average of 3.08 and a significant discount versus the industry average of 81.35. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, ONEOK PARTNERS -LP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
OKS 20.91 Peers 51.24   OKS 9.16 Peers 14.91

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

OKS is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

OKS is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
OKS 16.03 Peers 23.97   OKS 1.74 Peers 0.57

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

OKS is trading at a discount to its peers.

 

Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

OKS trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
OKS 2.29 Peers 81.35   OKS 112.96 Peers 98.97

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

OKS is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

OKS is expected to have an earnings growth rate that exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
OKS 1.39 Peers 2.16   OKS 27.98 Peers 6.96

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

OKS is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

OKS has a sales growth rate that significantly exceeds its peers.

 

 

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