OKE vs. PBA: ONEOK vs. Pembina Pipeline Stock Comparison

November 11, 2026

How do ONEOK (OKE) and Pembina Pipeline (PBA) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

ONEOK (OKE) and Pembina Pipeline (PBA) are both classified in the Oil & Gas Storage & Transportation sub-industry within the broader Oil, Gas & Consumable Fuels industry, placing them in the closest GICS peer bucket.

Company profile comparison for ONEOK (OKE) and Pembina Pipeline (PBA)
Profile Item	OKE	PBA
Name	ONEOK, Inc.	Pembina Pipeline Corp.
Country/Region	United States	Canada
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Storage & Transportation	Oil & Gas Storage & Transportation
Market Capitalization	53.71 billion USD	28.08 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 1, 1980	October 6, 2010
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

OKE

PBA

GSPC

ONEOK (OKE) vs. Pembina Pipeline (PBA), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for ONEOK (OKE) and Pembina Pipeline (PBA). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ONEOK (OKE) and Pembina Pipeline (PBA). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Total Return (1Y)	33.00%	35.84%
Total Return (3Y, Annualized)	16.19%	20.26%
Total Return (5Y, Annualized)	11.76%	12.46%

Risk Profile

Drawdown History

OKE

PBA

GSPC

ONEOK (OKE) vs. Pembina Pipeline (PBA), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for ONEOK (OKE) and Pembina Pipeline (PBA). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Volatility (1Y, Annualized)	27.56%	20.43%
Beta (5Y)	0.79	0.59
Max Drawdown (5Y)	-42.17%	-27.37%
Avg. Volume (3M)	3.38M	993.87K

Risk-Adjusted Performance

Risk-Return Positioning

OKE and PBA are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Sharpe Ratio (1Y)	1.04	1.54
Sortino Ratio (1Y)	1.50	2.32

Profitability

ROE (TTM)

Both ONEOK (OKE) at 15.02% and Pembina Pipeline (PBA) at 12.10% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

OKE

Energy industry group

15.02%

Max: 53.85%
Q3: 24.79%
OKE: 15.02%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

PBA

Energy industry group

12.10%

Max: 53.85%
Q3: 24.79%
Median: 12.85%
PBA: 12.10%
Q1: 2.03%
Min: -29.09%

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Pembina Pipeline (PBA) at 24.78% retains a top-quartile share of revenue as profit, ahead of ONEOK (OKE) at 9.42%, which keeps about the industry-typical share.

OKE

Energy industry group

9.42%

Max: 56.92%
Q3: 22.92%
Median: 10.10%
OKE: 9.42%
Q1: 0.07%
Min: -27.38%

PBA

Energy industry group

24.78%

Max: 56.92%
PBA: 24.78%
Q3: 22.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Both ONEOK (OKE) at 12.71% and Pembina Pipeline (PBA) at 32.63% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

OKE

Energy industry group

12.71%

Max: 71.31%
Q3: 33.75%
Median: 18.73%
OKE: 12.71%
Q1: 6.94%
Min: -24.52%

PBA

Energy industry group

32.63%

Max: 71.31%
Q3: 33.75%
PBA: 32.63%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
ROE (TTM)	15.02%	12.10%
ROA (TTM)	5.46%	4.65%
Net Margin (TTM)	9.42%	24.78%
Operating Margin (TTM)	12.71%	32.63%
Gross Margin (TTM)	25.20%	38.23%

Growth

Revenue Growth

ONEOK (OKE) at 54.99% clears its industry range for revenue growth, far stronger top-line momentum than Pembina Pipeline (PBA) at 5.34%, which is closer to a typical peer reading.

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both ONEOK (OKE) at 4.84% and Pembina Pipeline (PBA) at -11.33% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Revenue Growth (YoY)	54.99%	5.34%
Revenue Growth (3Y CAGR)	14.53%	-12.50%
EPS Growth (YoY)	4.84%	-11.33%
EPS Growth (3Y CAGR)	12.17%	-19.61%

Financial Strength

Current Ratio (MRQ)

Both ONEOK (OKE) at 0.84 and Pembina Pipeline (PBA) at 0.75 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

OKE

Energy industry group

0.84

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
OKE: 0.84
Min: 0.24

PBA

Energy industry group

0.75

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
PBA: 0.75
Min: 0.24

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Both ONEOK (OKE) at 0.88 and Pembina Pipeline (PBA) at 0.80 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

OKE

Energy industry group

0.88

Max: 1.75
Q3: 0.93
OKE: 0.88
Median: 0.54
Q1: 0.30
Min: 0.00

PBA

Energy industry group

0.80

Max: 1.75
Q3: 0.93
PBA: 0.80
Median: 0.54
Q1: 0.30
Min: 0.00

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Current Ratio (MRQ)	0.84	0.75
Debt / Equity (MRQ)	0.88	0.80
Net Debt / EBITDA	3.68	3.74

Dividends

Dividend Yield (TTM)

Both ONEOK (OKE) at 4.96% and Pembina Pipeline (PBA) at 6.13% offer top-quartile dividend income relative to share price within their industries.

OKE

Energy industry group

4.96%

Max: 8.57%
OKE: 4.96%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

PBA

Energy industry group

6.13%

Max: 8.57%
PBA: 6.13%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both ONEOK (OKE) at 65.84% and Pembina Pipeline (PBA) at 86.79% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

OKE

Energy industry group

65.84%

Max: 133.24%
OKE: 65.84%
Q3: 53.31%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

PBA

Energy industry group

86.79%

Max: 133.24%
PBA: 86.79%
Q3: 53.31%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
Dividend Yield (TTM)	4.96%	6.13%
Dividend Payout Ratio (TTM)	65.84%	86.79%

Valuation

P/E Ratio (TTM)

Both ONEOK (OKE) at 13.23 and Pembina Pipeline (PBA) at 20.12 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

OKE

Energy industry group

13.23

Max: 39.54
Q3: 21.72
OKE: 13.23
Median: 12.19
Q1: 7.71
Min: 2.99

PBA

Energy industry group

20.12

Max: 39.54
Q3: 21.72
PBA: 20.12
Median: 12.19
Q1: 7.71
Min: 2.99

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

ONEOK (OKE) at 1.24 is priced about in line with its industry on P/S ratio, while Pembina Pipeline (PBA) at 3.36 sits in the pricier quartile — PBA costs more per dollar of sales.

OKE

Energy industry group

1.24

Max: 5.40
Q3: 2.85
Median: 1.69
OKE: 1.24
Q1: 0.88
Min: 0.00

PBA

Energy industry group

3.36

Max: 5.40
PBA: 3.36
Q3: 2.85
Median: 1.69
Q1: 0.88
Min: 0.00

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

ONEOK (OKE) at 2.30 is valued about in line with its industry on P/B ratio, while Pembina Pipeline (PBA) at 2.55 carries an above-peer premium to book — PBA is pricier on assets.

OKE

Energy industry group

2.30

Max: 4.21
Q3: 2.38
OKE: 2.30
Median: 1.51
Q1: 1.08
Min: 0.01

PBA

Energy industry group

2.55

Max: 4.21
PBA: 2.55
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

ONEOK (OKE) vs. Pembina Pipeline (PBA): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for ONEOK (OKE) and Pembina Pipeline (PBA)
Metric	OKE	PBA
P/E Ratio (TTM)	13.23	20.12
P/S Ratio (TTM)	1.24	3.36
P/B Ratio (MRQ)	2.30	2.55
Free Cash Flow Yield (TTM)	1.44%	5.53%