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ONEOK vs QXO: Which Stock Looks Stronger in 2026?

The structural profiles are close, with QXO carrying a narrow edge on growth. ONEOK still has the edge on profitability, which keeps the comparison from looking entirely one-sided. In the market, ONEOK carries the stronger setup — intact trend against QXO's broken trend. That leaves a split case: the structural lead stays with QXO, but the market is not currently confirming it.

The comparison is based on similar long-term financial trajectories, not sector labels. Both peer scores are relative to the Russell 1000 universe, making them directly comparable.

Updated 2026-08-16

Growth still does most of the heavy lifting in this comparison.

Trajectory Similarity
0.68
Moderately similar
Peer-set rank: #2
within ONEOK, Inc.'s functional peer set

These two companies are linked by measured long-term financial trajectory similarity within the selected peer universe.

This level of similarity points to a meaningful structural match, though not a tight one.

The match is driven mainly by capital structure and operating margin level.

Similarity drivers
capital structureoperating margin level
What reduces the match
recent revenue growth
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
OKE
ONEOK, Inc.
49
Peer-Score
Signal qualitylow
Peer basis: Russell 1000
vs
QXO
QXO, Inc.
51
Peer-Score
Signal qualitylow
Peer basis: Russell 1000

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The clearest separation appears in growth.

Dimension spread: OKE vs QXO Profitability 29 0 Stability 38 35 Valuation 81 80 Growth 45 100 OKE QXO
Gap Ranking
#1 Growth +55
#2 Profitability +29
#3 Stability +3
#4 Valuation +1
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for OKE and QXO Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer OKEQXO Relative valuation Structural strength

Structure stays fairly close here, while current pricing still looks more supportive for ONEOK, Inc..

Valuation position uses peer-relative PE percentile (idx_pct_pe) and Forward P/E where available.

Entry today — historical context

Where OKE and QXO each sit in their own 5-year price and valuation history.

BASED ON 5-YEAR HISTORY OKE Elevated · near norm 0th 50th 100th 86 pct gap QXO Lower · below norm 0th 50th 100th 97th 11th
Today QXO sits in the lower portion of its own 5-year history (11th percentile), while OKE sits higher in its own history (97th). Within each stock's own 5-year context, QXO is at a historically more favourable entry position than OKE. This reflects entry timing, not which company is structurally stronger — peer-relative analysis is a separate question addressed above.

Describes historical entry positioning only. Descriptive — not investment advice.

Relative Position vs Comparable Companies
Growth
Both profiles are strong on growth, but QXO, Inc. leads clearly.
Profitability
Both sit in the weaker half on profitability, with ONEOK, Inc. still coming out ahead.
Growth — Dominant Gap
OKE
45
QXO
100
Gap+55in favour of QXO

The current lead is backed by a stronger multi-year growth trajectory.

What keeps the gap from being one-sided

Profitability still favours ONEOK, with a 14.5-point operating margin advantage keeping the comparison from looking fully resolved.

What this means for the comparison

The main read on growth is clearer than the broader score gap.

Explore full peer positioning in AssetNext

Break down the OKE vs QXO comparison across all dimensions with the full interactive tool.

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Other comparisons with conflicting dimension signals

Explore how OKE and QXO each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.