OGSNYSENatural Gas DistributionFiscal year ends December 31
ONE Gas, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$74.59−1.01 (-1.34%)
Close on Oct 19, 2026
- Market cap
- $4.71B
- P/E (TTM)
- 16.1
- Dividend yield
- 3.59%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
–
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Operating income | +14.7% | +9.3% | +8.6% | +6.7% | |
| Net income | +18.6% | +6.0% | +6.1% | +8.3% | |
| EPS, diluted | +11.8% | +2.3% | +3.5% | +6.9% | |
| Dividend per share | +1.5% | +2.6% | +4.4% | +8.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 7.5% | 9.0% | 8.1% | |
| Return on assets | 2.9% | 3.3% | 3.1% | |
| Current ratio | 1.28 | 0.68 | 0.60 | |
| Debt to equity | 0.71 | 0.90 | 0.97 | |
| Interest coverage | 6.6× | 4.9× | 3.2× | |
| Capex to revenue | 21.7% | 30.8% | – | |
| Diluted shares | 53M | 53M | 61M |
Where the cash went
Fiscal 2021 to 2025, five years combined
ONE Gas generated $4.99B from operations and spent $3.89B on capital expenditure, dividends and share buybacks. 82% of that went back into the business.
Generated
$4.99B
Used
$3.89B
Capital expenditure$3.18B82%Dividends$712.12M18%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.6%
×Asset turnover0.32×
×Equity multiplier3.28×
=Return on equity, FY20229.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2022 | 8.6% | 0.32× | 3.28× | 9.0% |
| FY2021 | 11.4% | 0.25× | 3.15× | 9.0% |
| FY2020 | 12.8% | 0.26× | 2.69× | 9.0% |
| FY2019 | 11.3% | 0.30× | 2.68× | 9.0% |
| FY2018 | 10.5% | 0.31× | 2.67× | 8.6% |
| FY2017 | 10.6% | 0.30× | 2.64× | 8.5% |
| FY2016 | 9.8% | 0.30× | 2.57× | 7.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$264.22M
- Cash generatingOperating cash flow above zero$578.83M
- Return on assets improvedROA up on the prior year2.9% → 3.1%
- Earnings backed by cashOperating cash flow above net income$578.83M vs $264.22M
- Less leverageLong-term debt to assets fell28.3% → 26.6%
- Better liquidityCurrent ratio rose0.64 → 0.60
- No dilutionShare count did not rise57M → 61M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –