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Duke Energy vs Oneok: revenue, profit, margins and growth compared

Duke Energy brought in $32.2B of revenue in fiscal 2025, Oneok $33.6B in fiscal 2025. Revenue changed by +6.2% at Duke Energy and +55.0% at Oneok on the year before, so Oneok grew faster. Duke Energy kept 15.4% of its revenue as net profit, Oneok 10.1%. Free cash flow was -$1.7B at Duke Energy and $2.4B at Oneok.

Side by side, latest fiscal year

DUKOKE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$32.2B$33.6B
Revenue growth+6.2%+55.0%
Net income$5B$3.4B
Net margin15.4%10.1%
Free cash flow-$1.7B$2.4B
Free cash flow margin-5.3%7.3%
Earnings per share (diluted)$6.31$5.42
Cash$245M$78M
Debt$87.2B$32B
Price to earnings18.016.4
Market value$88.4B$55.9B
Dividend yield3.72%4.65%
Rank by revenue in sector#3 of 109 · Utilities#2 of 109 · Utilities

Over the years

Revenue
DUK FY2018: $24.5BDUK FY2019: $25.1BDUK FY2020: $23.4BDUK FY2021: $24.6BDUK FY2022: $28.8BDUK FY2023: $29.1BDUK FY2024: $30.4BDUK FY2025: $32.2BOKE FY2018: $12.6BOKE FY2019: $10.2BOKE FY2020: $8.5BOKE FY2021: $16.5BOKE FY2022: $22.4BOKE FY2023: $17.7BOKE FY2024: $21.7BOKE FY2025: $33.6BFY18FY19FY20FY21FY22FY23FY24FY25
DUK $32.2BOKE $33.6B
Net income
DUK FY2018: $2.7BDUK FY2019: $3.7BDUK FY2020: $1.4BDUK FY2021: $3.9BDUK FY2022: $2.6BDUK FY2023: $2.8BDUK FY2024: $4.5BDUK FY2025: $5BOKE FY2018: $1.2BOKE FY2019: $1.3BOKE FY2020: $612.8MOKE FY2021: $1.5BOKE FY2022: $1.7BOKE FY2023: $2.7BOKE FY2024: $3BOKE FY2025: $3.4BFY18FY19FY20FY21FY22FY23FY24FY25
DUK $5BOKE $3.4B
Net margin
DUK FY2018: 10.9%DUK FY2019: 14.9%DUK FY2020: 5.9%DUK FY2021: 15.9%DUK FY2022: 8.9%DUK FY2023: 9.8%DUK FY2024: 14.9%DUK FY2025: 15.4%OKE FY2018: 9.1%OKE FY2019: 12.6%OKE FY2020: 7.2%OKE FY2021: 9.1%OKE FY2022: 7.7%OKE FY2023: 15.0%OKE FY2024: 14.0%OKE FY2025: 10.1%FY18FY19FY20FY21FY22FY23FY24FY25
DUK 15.4%OKE 10.1%
Revenue growth
DUK FY2019: +2.3%DUK FY2020: -6.8%DUK FY2021: +5.4%DUK FY2022: +16.8%DUK FY2023: +1.0%DUK FY2024: +4.5%DUK FY2025: +6.2%OKE FY2019: -19.3%OKE FY2020: -16.0%OKE FY2021: +93.6%OKE FY2022: +35.3%OKE FY2023: -21.0%OKE FY2024: +22.7%OKE FY2025: +55.0%FY19FY20FY21FY22FY23FY24FY25
DUK +6.2%OKE +55.0%
Free cash flow
DUK FY2018: -$2.2BDUK FY2019: -$2.9BDUK FY2020: -$1.1BDUK FY2021: -$1.4BDUK FY2022: -$5.4BDUK FY2023: -$2.7BDUK FY2024: $48MDUK FY2025: -$1.7BOKE FY2018: $45.2MOKE FY2019: -$1.9BOKE FY2020: -$296.3MOKE FY2021: $1.8BOKE FY2022: $1.7BOKE FY2023: $2.8BOKE FY2024: $2.9BOKE FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
DUK -$1.7BOKE $2.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Duke Energy and Oneok

Which is bigger by revenue, Duke Energy or Oneok?

Oneok is bigger by revenue: $33.6B in fiscal 2025, against $32.2B for Duke Energy in fiscal 2025.

Which keeps more of its revenue as profit, Duke Energy or Oneok?

Duke Energy had a net margin of 15.4% in fiscal 2025; Oneok had 10.1% in fiscal 2025.

Which grew revenue faster, Duke Energy or Oneok?

In their latest fiscal years revenue changed by +6.2% at Duke Energy and +55.0% at Oneok.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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