Is OKE or SWX more undervalued in 2026?

CirclFi compares ONEOK, Inc. (OKE) and Southwest Gas Holdings, Inc. (SWX) using 13 institutional-grade valuation models. OKE has a Quality of Company score of 8.8/10 while SWX scores 8.0/10.

Which is a better buy — OKE or SWX?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do OKE and SWX valuations compare?

OKE at $83.94 and SWX at $86.21 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

OKE vs SWX Valuation Comparison 2026 — Intrinsic Value Analysis

OKE

Natural Gas Transmisison & Distribution

ONEOK, Inc.

Quality

8.8

out of 10

Value Trap

SAFE

Price

$83.94

Last close

Models

12/13

Active

SWX

Natural Gas Transmisison & Distribution

Southwest Gas Holdings, Inc.

Quality

8.0

out of 10

Value Trap

SAFE

Price

$86.21

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	OKE Fair Value	OKE Upside	SWX Fair Value	SWX Upside
Bayesian DCF	Intrinsic	$33.31	-60.3%	$74.25	-13.9%
EROIC Spread	Intrinsic	$30.90	-63.2%	$29.95	-65.3%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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OKE vs SWX — Which Stock Is More Undervalued?

OKE scores higher with a 8.8/10 quality rating vs SWX's 8.0/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing ONEOK, Inc. (OKE) and Southwest Gas Holdings, Inc. (SWX) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

OKE currently trades at $83.94 with a QOC of 8.8/10, while SWX trades at $86.21 with a QOC of 8.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).