The 2024-25 Oklahoma City Thunder had the second-best net rating in NBA history. As of Dec. 5, the 2025-26 Thunder are 2.3 points per 100 possessions better than any other team than last season’s mark.
The 21-1 start isn’t all that surprising. Not only are the Thunder reigning champions, but they also brought back all of their rotation from last season and opened as clear NBA betting favourites for the title.
OKC is on pace for 78 wins. Of course, that would be an NBA record, and five wins more than the record-holding 2015-16 Golden State Warriors. The 1995-96 Chicago Bulls, the only team with a better net rating than last season’s Thunder, are the other team in NBA history to win 70+ regular-season games.
To simply project from their current winning percentage and net rating, the Thunder are on course to shatter the NBA regular-season record. They don’t have multiple titles (yet), but this is already an all-time great team.
Immense Depth
Shai Gilgeous-Alexander is one of the frontrunners for MVP again. Chet Holmgren is a candidate for Defensive Player of the Year. Perhaps most remarkably, OKC has done this despite Jalen Williams missing the first few weeks of the campaign through injury.
Mark Daigneault has unparalleled depth at his disposal. Barring freakish injury luck, depth is a requirement for any team to threaten the Warriors’ record. The way OKC dominated without its second-best player illustrates how sustainable this is.
Since going to double overtime in the first two games of the season, the Thunder have won 12 of their 20 games by double digits. Gilgeous-Alexander is barely playing fourth quarters.
The Thunder obviously need Gilgeous-Alexander to win the title, but he can afford to miss the odd game in their pursuit of 74 wins. The rest of this roster is that good – the Thunder are +6.8 when the reigning MVP is off the floor, which would rank fifth among all teams.
Western Conference Was Overrated
Part of the reason getting the record seemed so far-fetched at the start of the season was the perceived strength of the Western Conference.
It’s not turned out to be as strong as projections. The Portland Trail Blazers have handed the Thunder their only loss of the season. More than half of the conference are below .500, including the Los Angeles Clippers, Golden State Warriors, and Dallas Mavericks.
The Sacramento Kings and New Orleans Pelicans are two of the Association’s worst teams. There’s no shortage of easy wins on the schedule.
Schedule Challenges
Teams usually have a few schedule losses throughout the season. The Thunder’s only loss thus far came on the second night of a back-to-back, and they’ve only had two road trips of more than two games.
Notably, they have won both games in two of their three back-to-backs so far. There are nine back-to-backs left on the schedule, three of which are at the start of road trips.
The middle of January is OKC’s next lengthy road trip, taking them through Houston, Miami, Cleveland, and Milwaukee.
A five-game trip in March has much more favourable opponents, including the Brooklyn Nets and Washington Wizards. If the record is still on, the three-game trip to face the Lakers, Clippers, and Nuggets could be very interesting.
It's Very Much On
If any team can break Golden State’s record, it’s this version of the Thunder. The roster is absolutely stacked. And, most importantly, young enough to go full throttle for a full 82-game season.
Players are yet to be worn down by the grind of the NBA. Very few have persistent injury problems.
It will take a herculean effort, even so. It might jeopardise their title chances, but the Thunder check all the boxes to join the elusive 70-win club. Maybe, just maybe, they can get to 74.
