OGS

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ONE Gas, Inc.

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Key Metrics

Previous Close: $81.39
52-Week Range: $74.06 – $90.78
Market Cap: $5.12B
P/E (TTM): 17.54
EPS (TTM): 4.64
Dividend Yield: 3.34%

Advanced Metrics

Price/Book: 1.44
PEG Ratio: —
Return on Equity: 8.58%
Return on Assets: 3.46%
Gross Margin: 38.09%
Operating Margin: 19.85%
Profit Margin: 12.47%
Current Ratio: 0.48
Debt/Equity: 0.96
Total Debt: $3.39B
Free Cash Flow: $-219.93M
Revenue Growth: -2.90%
Earnings Growth: 39.60%
Enterprise Value: $8.50B

OGS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$2.58B	$2.37B	$2.08B	$2.43B
Cost of Revenue	$1.93B	$1.64B	$1.31B	$1.56B
Gross Profit	$646.65M	$729.08M	$774.97M	$870.02M
Operating Expenses	$296.70M	$351.49M	$376.07M	$412.55M
Operating Income	$349.96M	$377.59M	$398.90M	$457.47M
EBITDA	$574.25M	$666.90M	$703.17M	$781.52M
Pretax Income	$268.27M	$271.73M	$259.24M	$321.46M
Income Tax	$46.53M	$40.49M	$36.39M	$57.23M
Net Income	$221.74M	$231.23M	$222.85M	$264.22M
Diluted EPS	4.08	4.14	3.91	4.37
Diluted Shares	54.34M	55.86M	57.03M	60.51M

OGS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$9.68M	$18.84M	$57.99M	$10.62M
Receivables	$553.83M	$351.81M	$462.07M	$517.18M
Inventory	$340.08M	$264.75M	$252.85M	$274.05M
Current Assets	$1.22B	$765.20M	$929.88M	$915.88M
Total Assets	$7.78B	$7.77B	$8.43B	$8.85B
Current Liabilities	$1.19B	$1.48B	$1.46B	$1.53B
Long-Term Debt	$2.66B	$2.16B	$2.39B	$2.36B
Total Debt	$3.23B	$3.05B	$3.33B	$3.37B
Total Liabilities	$5.19B	$5.01B	$5.32B	$5.41B
Retained Earnings	$651.86M	$737.74M	$809.61M	$909.36M
Shareholders' Equity	$2.58B	$2.77B	$3.10B	$3.44B
Working Capital	$28.19M	-$712.02M	-$528.39M	-$615.97M
Net Debt	$3.22B	$3.03B	$3.27B	$3.36B

OGS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.57B	$939.53M	$368.41M	$578.83M
Capital Expenditure	-$609.49M	-$666.63M	-$703.16M	-$707.23M
Free Cash Flow	$961.36M	$272.90M	-$334.75M	-$128.39M
Depreciation & Amortisation	$228.48M	$279.83M	$296.70M	$317.26M
Stock-Based Compensation	$10.74M	$12.18M	$13.73M	$14.79M
Investing Cash Flow	-$614.11M	-$669.64M	-$707.50M	-$715.32M
Financing Cash Flow	-$947.46M	-$248.63M	$378.23M	$91.68M
Dividends Paid	-$133.95M	-$144.09M	-$149.46M	-$160.71M
Net Change in Cash	$9.28M	$21.26M	$39.15M	-$44.81M

OGS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$935.19M	$423.74M	$379.13M	$689.37M	$831.71M
Cost of Revenue	$647.76M	$248.93M	$213.81M	$446.91M	$540.52M
Gross Profit	$287.43M	$174.81M	$165.31M	$242.46M	$291.19M
Operating Expenses	$106.93M	$102.96M	$99.93M	$102.73M	$101.60M
Operating Income	$180.50M	$71.86M	$65.38M	$139.73M	$189.59M
EBITDA	$262.72M	$153.74M	$144.68M	$220.38M	$264.28M
Pretax Income	$145.32M	$39.15M	$32.37M	$104.62M	$155.14M
Income Tax	$25.90M	$7.12M	$5.91M	$18.31M	$26.46M
Net Income	$119.42M	$32.03M	$26.47M	$86.31M	$128.67M
Diluted EPS	1.98	0.53	0.44	1.42	2.04
Diluted Shares	60.27M	60.45M	60.55M	60.78M	63.20M

OGS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$19.30M	$20.55M	$9.05M	$10.62M	$11.35M
Receivables	$500.43M	$316.70M	$263.80M	$517.18M	$460.71M
Inventory	$156.67M	$230.00M	$295.50M	$274.05M	$216.91M
Current Assets	$756.24M	$681.28M	$679.21M	$915.88M	$796.64M
Total Assets	$8.33B	$8.36B	$8.50B	$8.85B	$8.83B
Current Liabilities	$1.28B	$1.30B	$1.45B	$1.53B	$1.40B
Long-Term Debt	$2.37B	$2.37B	$2.36B	$2.36B	$2.34B
Total Debt	$3.21B	$3.27B	$3.40B	$3.37B	$3.38B
Total Liabilities	$5.14B	$5.17B	$5.32B	$5.41B	$5.30B
Retained Earnings	$888.45M	$879.87M	$863.78M	$909.36M	$994.84M
Shareholders' Equity	$3.19B	$3.18B	$3.18B	$3.44B	$3.53B
Working Capital	-$521.16M	-$620.68M	-$774.73M	-$615.97M	-$605.64M
Net Debt	$3.19B	$3.25B	$3.39B	$3.36B	$3.37B

OGS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$277.46M	$171.35M	$87.01M	$43.02M	$176.31M
Capital Expenditure	-$169.02M	-$182.12M	-$196.35M	-$159.74M	-$159.23M
Free Cash Flow	$108.44M	-$10.77M	-$109.34M	-$116.72M	$17.08M
Depreciation & Amortisation	$81.70M	$79.31M	$76.93M	$79.31M	$76.78M
Stock-Based Compensation	$3.66M	$3.87M	$3.78M	$3.49M	$3.84M
Investing Cash Flow	-$167.84M	-$180.67M	-$195.35M	-$171.47M	-$154.10M
Financing Cash Flow	-$159.96M	$23.85M	$86.40M	$141.39M	-$32.95M
Dividends Paid	-$40.15M	-$40.15M	-$40.20M	-$40.20M	-$42.68M
Net Change in Cash	-$50.35M	$14.53M	-$21.94M	$12.94M	-$10.73M

Market Snapshot

About

ONE Gas, Inc. is a regulated natural gas distribution utility serving customers across Oklahoma, Kansas, and Texas. The company delivers natural gas to residential, commercial, and industrial customers through its extensive pipeline network and local distribution infrastructure.