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

Nrg Energy brought in $30.7B of revenue in fiscal 2025, Oneok $33.6B in fiscal 2025. Revenue changed by +9.2% at Nrg Energy and +55.0% at Oneok on the year before, so Oneok grew faster. Nrg Energy kept 2.8% of its revenue as net profit, Oneok 10.1%. Free cash flow was $766M at Nrg Energy and $2.4B at Oneok.

Side by side, latest fiscal year

NRGOKE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$30.7B$33.6B
Revenue growth+9.2%+55.0%
Net income$864M$3.4B
Net margin2.8%10.1%
Free cash flow$766M$2.4B
Free cash flow margin2.5%7.3%
Earnings per share (diluted)$4.01$5.42
Cash$4.7B$78M
Debt$16.6B$32B
Price to earnings25.016.4
Market value$21.1B$55.9B
Dividend yield1.75%4.65%
Rank by revenue in sector#4 of 109 · Utilities#2 of 109 · Utilities

Over the years

Revenue
NRG FY2018: $9.5BNRG FY2019: $9.8BNRG FY2020: $9.1BNRG FY2021: $27BNRG FY2022: $31.5BNRG FY2023: $28.8BNRG FY2024: $28.1BNRG FY2025: $30.7BOKE FY2018: $12.6BOKE FY2019: $10.2BOKE FY2020: $8.5BOKE FY2021: $16.5BOKE FY2022: $22.4BOKE FY2023: $17.7BOKE FY2024: $21.7BOKE FY2025: $33.6BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $30.7BOKE $33.6B
Net income
NRG FY2018: $268MNRG FY2019: $4.4BNRG FY2020: $510MNRG FY2021: $2.2BNRG FY2022: $1.2BNRG FY2023: -$202MNRG FY2024: $1.1BNRG FY2025: $864MOKE FY2018: $1.2BOKE FY2019: $1.3BOKE FY2020: $612.8MOKE FY2021: $1.5BOKE FY2022: $1.7BOKE FY2023: $2.7BOKE FY2024: $3BOKE FY2025: $3.4BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $864MOKE $3.4B
Net margin
NRG FY2018: 2.8%NRG FY2019: 45.2%NRG FY2020: 5.6%NRG FY2021: 8.1%NRG FY2022: 3.9%NRG FY2023: -0.7%NRG FY2024: 4.0%NRG FY2025: 2.8%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
NRG 2.8%OKE 10.1%
Revenue growth
NRG FY2019: +3.6%NRG FY2020: -7.4%NRG FY2021: +196.8%NRG FY2022: +16.9%NRG FY2023: -8.6%NRG FY2024: -2.4%NRG FY2025: +9.2%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
NRG +9.2%OKE +55.0%
Free cash flow
NRG FY2018: $989MNRG FY2019: $1.2BNRG FY2020: $1.6BNRG FY2021: $224MNRG FY2022: -$7MNRG FY2023: -$819MNRG FY2024: $1.8BNRG FY2025: $766MOKE FY2018: $45.2MOKE FY2019: -$1.9BOKE FY2020: -$296.3MOKE FY2021: $1.8BOKE FY2022: $1.7BOKE FY2023: $2.8BOKE FY2024: $2.9BOKE FY2025: $2.4BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $766MOKE $2.4B

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

Questions about Nrg Energy and Oneok

Which is bigger by revenue, Nrg Energy or Oneok?

Oneok is bigger by revenue: $33.6B in fiscal 2025, against $30.7B for Nrg Energy in fiscal 2025.

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

Nrg Energy had a net margin of 2.8% in fiscal 2025; Oneok had 10.1% in fiscal 2025.

Which grew revenue faster, Nrg Energy or Oneok?

In their latest fiscal years revenue changed by +9.2% at Nrg 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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