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ONEOK (OKE) Cyclically Adjusted Book per Share : $12.76 (As of Dec. 2023)


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What is ONEOK Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

ONEOK's adjusted book value per share for the three months ended in Dec. 2023 was $28.270. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $12.76 for the trailing ten years ended in Dec. 2023.

During the past 12 months, ONEOK's average Cyclically Adjusted Book Growth Rate was 10.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 8.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 6.10% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 2.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of ONEOK was 15.20% per year. The lowest was -7.00% per year. And the median was 4.90% per year.

As of today (2024-04-27), ONEOK's current stock price is $81.06. ONEOK's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $12.76. ONEOK's Cyclically Adjusted PB Ratio of today is 6.35.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of ONEOK was 7.80. The lowest was 1.94. And the median was 5.54.


ONEOK Cyclically Adjusted Book per Share Historical Data

The historical data trend for ONEOK's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

ONEOK Cyclically Adjusted Book per Share Chart

ONEOK Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.90 10.07 10.79 11.55 12.76

ONEOK Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.55 11.81 12.01 12.47 12.76

Competitive Comparison of ONEOK's Cyclically Adjusted Book per Share

For the Oil & Gas Midstream subindustry, ONEOK's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


ONEOK's Cyclically Adjusted PB Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, ONEOK's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where ONEOK's Cyclically Adjusted PB Ratio falls into.



ONEOK Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, ONEOK's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book= Book Value per Share /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=28.27/129.4194*129.4194
=28.270

Current CPI (Dec. 2023) = 129.4194.

ONEOK Quarterly Data

Book Value per Share CPI Adj_Book
201403 2.812 99.695 3.650
201406 3.156 100.560 4.062
201409 2.994 100.428 3.858
201412 2.842 99.070 3.713
201503 2.540 99.621 3.300
201506 2.476 100.684 3.183
201509 1.981 100.392 2.554
201512 1.601 99.792 2.076
201603 1.365 100.470 1.758
201606 1.128 101.688 1.436
201609 1.018 101.861 1.293
201612 0.896 101.863 1.138
201703 1.130 102.862 1.422
201706 14.231 103.349 17.821
201709 14.056 104.136 17.469
201712 14.221 104.011 17.695
201803 16.302 105.290 20.038
201806 16.209 106.317 19.731
201809 16.173 106.507 19.652
201812 15.988 105.998 19.521
201903 15.607 107.251 18.833
201906 15.372 108.070 18.409
201909 15.055 108.329 17.986
201912 15.066 108.420 17.984
202003 13.435 108.902 15.966
202006 14.049 108.767 16.717
202009 13.830 109.815 16.299
202012 13.582 109.897 15.995
202103 13.685 111.754 15.848
202106 13.257 114.631 14.967
202109 13.098 115.734 14.647
202112 13.483 117.630 14.834
202203 13.421 121.301 14.319
202206 13.684 125.017 14.166
202209 14.123 125.227 14.596
202212 14.523 125.222 15.010
202303 15.940 127.348 16.199
202306 16.123 128.729 16.210
202309 27.979 129.860 27.884
202312 28.270 129.419 28.270

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


ONEOK  (NYSE:OKE) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

ONEOK's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=81.06/12.76
=6.35

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of ONEOK was 7.80. The lowest was 1.94. And the median was 5.54.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


ONEOK Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of ONEOK's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


ONEOK (OKE) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » ONEOK Inc (NYSE:OKE) » Definitions » Cyclically Adjusted Book per Share
Address
100 West Fifth Street, Tulsa, OK, USA, 74103
Oneok provides natural gas gathering, processing, storage, and transportation as well as natural gas liquids transportation and fractionation. It owns extensive assets in the midcontinent, Permian, and Rocky Mountain regions.
Executives
Eduardo A Rodriguez director 100 WEST FIFTH STREET, TULSA OK 74103
Lyndon C Taylor officer: See Remarks 333 W. SHERIDAN AVE, OKLAHOMA CITY OK 73102
James R Hoskin officer: See Remarks ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Wayne Thomas Smith director 1940 AIR PRODUCTS BLVD., ALLENTOWN PA 18106
Lori Gobillot director 5103 CITY WEST BLVD., 4TH FLOOR, HOUSTON TX 77042
Janet L. Hogan officer: Senior Vice President HR 2307 OREGON STREET, OSHKOSH WI 54902
Pierce Norton director, officer: President & CEO 100 W. 5TH STREET, TULSA OK 74103
Brian L Derksen director 100 W. 5TH ST., TULSA OK 74103
Scott D Schingen officer: Senior VP Operations 100 WEST 5TH STREET, TULSA OK 74103
Mark W Helderman director 100 W. 5TH ST., TULSA OK 74102
Mary M Spears officer: VP & CHIEF ACCOUNTING OFFICER 100 W. 5TH ST., TULSA OK 74103
Gary David Parker director 100 W. 5TH ST., TULSA OK 74103
Terry K Spencer officer: OKS - COO 100 W. 5TH ST., TULSA OK 74103
John William Gibson director, officer: CEO 100 WEST FIFTH STREET, TULSA OK 74103
Hulse Walter S Iii officer: EVP STRATEGIC PLNG & CORP DEV 100 W. 5TH ST., TULSA OK 74103

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