ONEOK Partners LP

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OKS : NYSE : Basic Materials
$41.86 | %
Today's Range: 41.58 - 42.04
Avg. Daily Volume: 720,000
07/22/16 - 4:01 PM ET

Financial Analysis


ONEOK PARTNERS -LP's gross profit margin for the first quarter of its fiscal year 2016 has significantly increased when compared to the same period a year ago. Even though sales decreased, the net income has increased, representing an increase to the bottom line. ONEOK PARTNERS -LP has very weak liquidity. Currently, the Quick Ratio is 0.31 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has increased by 6.30% 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 FY16 Q1 FY15
Net Sales ($mil)1773.951804.76
EBITDA ($mil)407.83282.74
EBIT ($mil)314.09196.89
Net Income ($mil)253.52145.59


Balance Sheet Q1 FY16 Q1 FY15
Cash & Equiv. ($mil)9.8890.53
Total Assets ($mil)14944.7214847.1
Total Debt ($mil)7594.467668.79
Equity ($mil)6217.325848.47


Profitability Q1 FY16 Q1 FY15
Gross Profit Margin22.9915.67
EBITDA Margin22.9815.66
Operating Margin17.7110.91
Sales Turnover0.520.73
Return on Assets4.665.32
Return on Equity11.2113.51
Debt Q1 FY16 Q1 FY15
Current Ratio0.50.43
Debt/Capital0.550.57
Interest Expense95.4487.94
Interest Coverage3.292.24


Share Data Q1 FY16 Q1 FY15
Shares outstanding (mil)285.83255.55
Div / share0.790.79
EPS0.520.21
Book value / share21.7522.89
Institutional Own % n/a n/a
Avg Daily Volume728473.01334902.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 70.76 for the Oil, Gas & Consumable Fuels industry and a significant premium compared to the S&P 500 average of 25.05. To use another comparison, its price-to-book ratio of 1.92 indicates a discount versus the S&P 500 average of 2.81 and a significant discount versus the industry average of 11.73. The price-to-sales ratio is below the S&P 500 average and is well below 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 38.68 Peers 70.76   OKS 9.43 Peers 306.30

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 16.91 Peers 39.26   OKS 0.18 Peers 2.07

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 significant discount to its peers.

 

Discount. 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 discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
OKS 1.92 Peers 11.73   OKS -37.94 Peers -202.73

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 significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
OKS 1.54 Peers 2.43   OKS -28.65 Peers -25.78

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.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

OKS significantly trails its peers on the basis of sales growth

 

 

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