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ONE Gas, Inc. logo

ONE Gas, Inc.

OGS

NYSEUtilitiesRegulated Gas

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Latest quote

$78.84

−$2.56 · -3.15%

Aug 21, 3:59 PM ET

OGS company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

74

Undervalued

Momentum

35

Weakening

Sentiment

71

Bullish

Risk resilience

77

Moderate Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

ONE Gas, Inc., along with its affiliated companies, functions as a regulated natural gas utility across the United States. Its operations are structured into three distinct divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. These divisions collectively deliver natural gas distribution services to approximately 2.2 million customers spanning three states. Its diverse clientele includes residential households, commercial enterprises, and transportation sector users. Pertaining to its infrastructure, as of December 31, 2021, the company maintained an extensive network comprising roughly 41,600 miles of distribution mains and 2,400 miles of transmission pipelines. Furthermore, it possessed a substantial natural gas storage capacity of 51.4 billion cubic feet. Established in 1906, ONE Gas, Inc. maintains its corporate headquarters in Tulsa, Oklahoma.

Industry
Regulated Gas
Sector
Utilities
Headquarters
US
CEO
Robert S. McAnnally
Listed since
Jan 16, 2014
Employees
4,000

Market position

Volume
364.29K
0.61× average
Average volume
598.5K
Average daily volume
Market cap
4.95B USD
Beta
0.66
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
8.01B USD
P/E (TTM)
16.92×
P/B (TTM)
1.4×
P/S (TTM)
2.14×
EV / EBITDA
10.25×
Earnings yield
5.69%
Free cash flow yield
-2.76%
Dividend yield
3.44%

Profitability & efficiency

Gross margin
74.65%
Operating margin
20.65%
Net margin
12.47%
Return on equity
7.68%
Return on assets
2.83%
Return on invested capital
4.26%

Financial health

Debt / equity
0.96×
Current ratio
0.6×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends64%44%24%4%Gross margin, FY2021: 32.29%Gross margin, FY2022: 25.08%Gross margin, FY2023: 30.74%Gross margin, FY2024: 37.20%Gross margin, FY2025: 58.85%Operating margin, FY2021: 17.15%Operating margin, FY2022: 13.57%Operating margin, FY2023: 15.92%Operating margin, FY2024: 19.15%Operating margin, FY2025: 18.85%Net margin, FY2021: 11.41%Net margin, FY2022: 8.60%Net margin, FY2023: 9.75%Net margin, FY2024: 10.70%Net margin, FY2025: 10.88%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 32.29%. Gross margin FY2022 25.08%. Gross margin FY2023 30.74%. Gross margin FY2024 37.20%. Gross margin FY2025 58.85%. Operating margin FY2021 17.15%. Operating margin FY2022 13.57%. Operating margin FY2023 15.92%. Operating margin FY2024 19.15%. Operating margin FY2025 18.85%. Net margin FY2021 11.41%. Net margin FY2022 8.60%. Net margin FY2023 9.75%. Net margin FY2024 10.70%. Net margin FY2025 10.88%.

Income trends

Revenue

2.43B USD+16.50%

Operating income

457.47M USD+14.64%

Net income

264.22M USD+18.57%
Income trends across reported periods2.82B USD1.87B USD917.91M USD−30.72M USDRevenue, FY2021: 1.81B USDRevenue, FY2022: 2.58B USDRevenue, FY2023: 2.37B USDRevenue, FY2024: 2.08B USDRevenue, FY2025: 2.43B USDOperating income, FY2021: 310.26M USDOperating income, FY2022: 349.96M USDOperating income, FY2023: 377.59M USDOperating income, FY2024: 399.04M USDOperating income, FY2025: 457.47M USDNet income, FY2021: 206.43M USDNet income, FY2022: 221.74M USDNet income, FY2023: 231.23M USDNet income, FY2024: 222.85M USDNet income, FY2025: 264.22M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.81B USD. Revenue FY2022 2.58B USD. Revenue FY2023 2.37B USD. Revenue FY2024 2.08B USD. Revenue FY2025 2.43B USD. Operating income FY2021 310.26M USD. Operating income FY2022 349.96M USD. Operating income FY2023 377.59M USD. Operating income FY2024 399.04M USD. Operating income FY2025 457.47M USD. Net income FY2021 206.43M USD. Net income FY2022 221.74M USD. Net income FY2023 231.23M USD. Net income FY2024 222.85M USD. Net income FY2025 264.22M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.43B USD2.08B USD2.37B USD2.58B USD1.81B USD
Cost of goods sold998.91M USD1.31B USD1.64B USD1.93B USD1.22B USD
Gross profit1.43B USD775.11M USD729.08M USD646.65M USD583.92M USD
Operating expenses971.05M USD376.07M USD351.49M USD296.7M USD273.66M USD
Interest expense142.81M USD147.24M USD115.34M USD77.51M USD60.3M USD
Depreciation and amortization317.26M USD296.7M USD279.83M USD228.48M USD207.23M USD
Operating income457.47M USD399.04M USD377.59M USD349.96M USD310.26M USD
Net income264.22M USD222.85M USD231.23M USD221.74M USD206.43M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
27%
3 beats, 4 misses, 4 met estimates
Average EPS surprise
+2.20%
11 comparable reports
Latest EPS result
0.82
Estimate 0.63 · Beat by 29.34%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.271.6310.37Q1 '25MetQ2 '25BeatQ3 '25MetQ4 '25MetQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 1.34, estimate 1.34, surprise 0.00%, Met estimate. Q2 2025, reported May 5, 2025: actual 1.98, estimate 1.85, surprise +7.03%, Beat. Q3 2025, reported Aug 5, 2025: actual 0.53, estimate 0.53, surprise 0.00%, Met estimate. Q4 2025, reported Nov 3, 2025: actual 0.44, estimate 0.44, surprise 0.00%, Met estimate. Q1 2026, reported Feb 18, 2026: actual 1.48, estimate 1.42, surprise +4.23%, Beat. Q2 2026, reported May 4, 2026: actual 2.11, estimate 2.13, surprise -0.94%, Miss. Q3 2026, reported Aug 4, 2026: actual 0.82, estimate 0.634, surprise +29.34%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 0.5, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.04B802.97M566.59M330.22MQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 630.7M USD, estimate 973.58M USD, surprise -35.22%, Miss. Q2 2025, reported May 5, 2025: actual 935.19M USD, estimate 495.65M USD, surprise +88.68%, Beat. Q3 2025, reported Aug 5, 2025: actual 423.74M USD, estimate 510.75M USD, surprise -17.04%, Miss. Q4 2025, reported Nov 3, 2025: actual 379.13M USD, estimate 990.44M USD, surprise -61.72%, Miss. Q1 2026, reported Feb 18, 2026: actual 689.4M USD, estimate 990.44M USD, surprise -30.39%, Miss. Q2 2026, reported May 4, 2026: actual 831.71M USD, estimate 969.36M USD, surprise -14.20%, Miss. Q3 2026, reported Aug 4, 2026: actual 411.64M USD, estimate 410.29M USD, surprise +0.33%, Beat. Q4 2026, reported Nov 2, 2026: actual —, estimate 395.49M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$88.57

12.36% upside
Past 12 months12-month forecastHigh $96.00Average $88.57Low $80.00

Rating distribution

15 ratings
Strong buy00%
Buy533%
Hold1067%
Sell00%
Strong sell00%

Recent analyst actions

10 institutions

OGS news

defenseworld.net

Advisors Capital Management LLC Purchases Shares of 7,283 ONE Gas, Inc. $OGS

Advisors Capital Management LLC purchased a new position in shares of ONE Gas, Inc. (NYSE: OGS) in the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission.…

Read source
zacks.com

Here's Why ONE Gas (OGS) is a Strong Value Stock

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Read source
zacks.com

OGS vs. SWX: Which Utility Stock Has Greater Investment Potential?

ONE Gas and Southwest Gas go head-to-head on earnings growth, leverage, dividends, capital spending and stock performance amid rising gas demand.

Read source
defenseworld.net

China Gas (OTCMKTS:CGHLY) and ONE Gas (NYSE:OGS) Critical Review

ONE Gas (NYSE: OGS - Get Free Report) and China Gas (OTCMKTS:CGHLY - Get Free Report) are both utilities companies, but which is the better investment? We will contrast the two companies based on the strength of their…

Read source
defenseworld.net

Bank of America Corp DE Decreases Stock Holdings in ONE Gas, Inc. $OGS

Bank of America Corp DE lowered its stake in ONE Gas, Inc. (NYSE: OGS) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 503,289 shares of the utilities provider's…

Read source
seekingalpha.com

Based On Its Current Valuation And Outlook, ONE Gas Looks More Compelling (Rating Upgrade)

ONE Gas is upgraded to Buy following a strong Q2 2026, with earnings and revenue beating expectations and guidance raised for the full year. ONE Gas benefits from recent rate increases across all three states, driving…

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$2.68

2025 complete year+15.5% since 2021

2026 partial: $2.04

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Aug 17, 2026

$0.68

Quarterly

Record Aug 17, 2026 · Payment Aug 31, 2026

Dividend

Ex-dividend May 18, 2026

$0.68

Quarterly

Record May 18, 2026 · Payment Jun 2, 2026

Dividend

Ex-dividend Feb 20, 2026

$0.68

Quarterly

Record Feb 20, 2026 · Payment Mar 6, 2026

Dividend

Ex-dividend Nov 14, 2025

$0.67

Quarterly

Record Nov 14, 2025 · Payment Dec 1, 2025

Dividend

Ex-dividend Aug 18, 2025

$0.67

Quarterly

Record Aug 18, 2025 · Payment Sep 3, 2025

Dividend

Ex-dividend May 19, 2025

$0.67

Quarterly

Record May 19, 2025 · Payment Jun 3, 2025

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ETFs holding OGS

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Mid-Cap ETF logoiShares Core S&P Mid-Cap ETFIJH
Market value
173.63M
Weight
0.14%
AUM
125.92B USD
Expense ratio
0.05%
Price / 1D
$76.77+0.52%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
155.15M
Weight
0.01%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
133.22M
Weight
0.16%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Morningstar Small-Cap ETF logoVanguard Morningstar Small-Cap ETFVB
Market value
112.05M
Weight
0.06%
AUM
183.4B USD
Expense ratio
0.03%
Price / 1D
$304.76+0.64%
First Trust North American Energy Infrastructure Fund logoFirst Trust North American Energy Infrastructure FundEMLP
Market value
95.02M
Weight
2.27%
AUM
4.13B USD
Expense ratio
0.95%
Price / 1D
$43.72-1.60%
Vanguard Morningstar Small-Cap Value ETF logoVanguard Morningstar Small-Cap Value ETFVBR
Market value
71.16M
Weight
0.10%
AUM
68.3B USD
Expense ratio
0.05%
Price / 1D
$249.18+0.68%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
56.08M
Weight
0.06%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
49.06M
Weight
0.34%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%

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