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ONE Gas (OGS) Financials

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$81.78 -0.52 (-0.63%)
As of 12:50 PM Eastern
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Annual Income Statements for ONE Gas

Annual Income Statements for ONE Gas

This table shows ONE Gas' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 119 140 163 172 187 196 206 222 231 223 264
Consolidated Net Income / (Loss)		 119 140 163 172 187 196 206 222 231 223 264
Net Income / (Loss) Continuing Operations		 119 140 163 172 187 196 206 222 231 223 264
Total Pre-Tax Income 		192 225 256 226 230 238 247 268 272 259 321
Total Operating Income		 239 289 317 288 295 304 310 350 378 399 457
Total Gross Profit		 372 433 469 449 476 498 517 578 657 696 775
Total Revenue		 1,548 1,427 1,540 1,634 1,653 1,530 1,809 2,578 2,372 2,084 2,427
Operating Revenue		 1,548 1,427 1,540 1,634 1,653 1,530 1,809 2,578 2,372 2,084 2,427
Total Cost of Revenue		 1,176 994 1,071 1,185 1,177 1,032 1,291 2,000 1,715 1,388 1,653
Operating Cost of Revenue		 1,120 939 1,014 1,126 1,117 969 1,225 1,931 1,643 1,309 1,557
Other Cost of Revenue		 55 55 57 59 60 63 66 68 72 79 95
Total Operating Expenses		 133 144 152 160 180 195 207 228 280 297 317
Depreciation Expense		 133 144 152 160 180 195 207 228 280 297 317
Total Other Income / (Expense), net		 -47 -64 -61 -63 -66 -66 -64 -82 -106 -140 -136
Interest Expense		 45 44 46 51 63 63 60 78 115 147 143
Other Income / (Expense), net		 -2.55 -20 -15 -11 -2.98 -3.02 -3.21 -4.18 9.48 7.57 6.80
Income Tax Expense		 73 85 93 54 43 42 40 47 40 36 57
Basic Earnings per Share		 $2.26 $2.67 $3.10 $3.27 $3.53 $3.70 $3.85 $4.09 $4.16 $3.92 $4.39
Weighted Average Basic Shares Outstanding		 52.58M 52.45M 52.53M 52.69M 52.90M 53.13M 53.58M 54.21M 55.60M 56.83M 60.16M
Diluted Earnings per Share		 $2.24 $2.65 $3.08 $3.25 $3.51 $3.68 $3.85 $4.08 $4.14 $3.91 $4.37
Weighted Average Diluted Shares Outstanding		 53.25M 52.96M 52.98M 53.03M 53.24M 53.37M 53.67M 54.34M 55.86M 57.03M 60.51M
Weighted Average Basic & Diluted Shares Outstanding		 52.70M 52.50M 52.60M 52.70M 52.77M 53.24M 53.63M 55.35M 59.88M - 62.69M
Cash Dividends to Common per Share		 $1.20 $1.40 $1.68 $1.84 $2.00 $2.16 $2.32 $2.48 $2.60 $2.64 $2.68

Quarterly Income Statements for ONE Gas

This table shows ONE Gas' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 99 27 19 77 119 32 26 86 129 47 31
Consolidated Net Income / (Loss)		 99 27 19 77 119 32 26 86 129 47 31
Net Income / (Loss) Continuing Operations		 99 27 19 77 119 32 26 86 129 47 31
Total Pre-Tax Income 		118 33 23 85 145 39 32 105 155 57 38
Total Operating Income		 146 69 59 124 180 72 65 140 190 83 77
Total Gross Profit		 222 142 132 200 262 151 142 219 266 159 157
Total Revenue		 758 354 340 631 935 424 379 689 832 412 391
Operating Revenue		 758 354 340 631 935 424 379 689 832 412 391
Total Cost of Revenue		 536 212 209 431 673 273 237 470 565 253 234
Operating Cost of Revenue		 516 194 190 409 648 249 214 447 541 230 211
Other Cost of Revenue		 20 18 18 22 25 24 23 23 25 23 23
Total Operating Expenses		 77 73 72 75 82 79 77 79 77 76 80
Depreciation Expense		 77 73 72 75 82 79 77 79 77 76 80
Total Other Income / (Expense), net		 -28 -36 -36 -40 -35 -33 -33 -35 -34 -26 -39
Interest Expense		 31 37 39 40 36 35 35 36 32 31 37
Other Income / (Expense), net		 3.51 0.98 2.98 0.11 0.52 2.57 2.36 1.35 -2.10 5.22 -2.76
Income Tax Expense		 19 6.04 4.02 7.63 26 7.12 5.91 18 26 9.98 6.80
Basic Earnings per Share		 $1.75 $0.48 $0.34 $1.35 $1.99 $0.53 $0.44 $1.43 $2.05 $0.74 $0.50
Weighted Average Basic Shares Outstanding		 56.73M 56.75M 56.83M 56.83M 60.08M 60.11M 60.18M 60.16M 62.91M 62.96M 63.03M
Diluted Earnings per Share		 $1.75 $0.48 $0.34 $1.34 $1.98 $0.53 $0.44 $1.42 $2.04 $0.74 $0.49
Weighted Average Diluted Shares Outstanding		 56.80M 56.83M 57.09M 57.03M 60.27M 60.46M 60.55M 60.51M 63.20M 63.15M 63.18M
Weighted Average Basic & Diluted Shares Outstanding		 56.65M - 56.66M 0.00 59.93M 60.00M 60.00M 62.69M 62.76M 62.86M 62.86M
Cash Dividends to Common per Share		 $0.66 $0.66 $0.66 $0.66 $0.67 $0.67 $0.67 $0.67 $0.68 $0.68 $0.68

Annual Cash Flow Statements for ONE Gas

This table details how cash moves in and out of ONE Gas' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -9.51 12 -0.25 6.91 -3.47 -9.86 801 3,280 26 143 -45
Net Cash From Operating Activities		 408 291 254 468 310 365 -1,536 1,571 940 368 579
Net Cash From Continuing Operating Activities		 408 291 254 342 310 365 -1,536 1,571 947 468 583
Net Income / (Loss) Continuing Operations		 119 140 163 172 187 196 206 222 231 223 264
Consolidated Net Income / (Loss)		 119 140 163 172 187 196 206 222 231 223 264
Depreciation Expense		 133 144 152 160 180 195 207 228 280 297 317
Non-Cash Adjustments To Reconcile Net Income		 -38 -37 -36 17 -29 25 -29 1,300 157 -39 -29
Changes in Operating Assets and Liabilities, net		 194 43 -25 -6.86 -27 -52 -1,920 -180 279 -13 30
Net Cash From Investing Activities		 -294 -309 -356 -394 -423 -470 -501 -614 -670 -707 -715
Net Cash From Continuing Investing Activities		 -294 -309 -356 -447 -423 -470 -501 -614 -670 -707 -715
Purchase of Property, Plant & Equipment		 -294 -309 -356 -394 -424 -471 -495 -609 -667 -703 -707
Sale of Property, Plant & Equipment		 0.00 0.49 0.00 0.00 1.40 3.78 1.72 4.01 5.50 6.07 4.63
Other Investing Activities, net		 - - 0.62 -53 - -2.80 -7.55 -8.63 -8.51 -10 -13
Net Cash From Financing Activities		 -123 30 102 -66 109 96 2,038 -947 -249 378 92
Net Cash From Continuing Financing Activities		 -123 30 102 -66 109 96 2,838 2,324 -244 383 92
Repayment of Debt		 -30 0.00 0.00 -304 217 -2.89 365 1,636 2.51 -771 -207
Payment of Dividends		 -63 -73 -88 -97 -105 -114 -124 -134 -144 -149 -161
Issuance of Debt		 - 133 212 338 0.00 200 2,575 692 -164 1,080 250
Issuance of Common Equity		 7.05 4.02 4.46 4.80 5.12 19 27 134 85 252 212
Other Financing Activities, net		 -14 -9.02 -9.52 -8.15 -7.58 -6.27 -4.71 -3.17 -23 -29 -2.66
Cash Interest Paid		 43 42 44 49 61 60 70 85 81 149 139
Cash Income Taxes Paid		 -5.42 -36 -1.39 0.80 30 30 -11 - - - 9.13

Quarterly Cash Flow Statements for ONE Gas

This table details how cash moves in and out of ONE Gas' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
Net Change in Cash & Equivalents		 -18 11 -3.71 154 -50 15 -22 13 -11 -104 -12
Net Cash From Operating Activities		 108 143 55 63 277 171 87 43 176 211 120
Net Cash From Continuing Operating Activities		 108 143 55 162 277 171 87 47 176 100 120
Net Income / (Loss) Continuing Operations		 99 27 19 77 119 32 26 86 129 47 31
Consolidated Net Income / (Loss)		 99 27 19 77 119 32 26 86 129 47 31
Depreciation Expense		 77 73 72 75 82 79 77 79 77 76 80
Non-Cash Adjustments To Reconcile Net Income		 -7.83 -15 -11 -4.57 -5.10 -4.01 -9.73 -10 -6.35 -8.31 -8.75
Changes in Operating Assets and Liabilities, net		 -60 58 -26 14 81 64 -6.66 -108 -23 -15 18
Net Cash From Investing Activities		 -166 -176 -180 -185 -168 -181 -195 -171 -154 -176 -213
Net Cash From Continuing Investing Activities		 -166 -176 -180 -185 -168 -181 -195 -171 -154 -176 -213
Purchase of Property, Plant & Equipment		 -167 -176 -181 -180 -167 -180 -192 -168 -157 -174 -212
Sale of Property, Plant & Equipment		 2.03 0.95 2.15 0.95 1.18 1.45 1.00 1.00 5.13 1.85 0.75
Other Investing Activities, net		 -1.26 -1.12 -1.38 -6.64 -2.43 -1.65 -3.98 -4.67 -2.70 -3.99 -1.22
Net Cash From Financing Activities		 40 44 122 172 -160 24 86 141 -33 -28 81
Net Cash From Continuing Financing Activities		 40 44 122 177 -160 24 86 141 -33 -28 81
Repayment of Debt		 78 78 -94 -833 -117 60 -123 -27 6.94 11 -271
Payment of Dividends		 -37 -37 -37 -37 -40 -40 -40 -40 -43 -43 -43
Issuance of Debt		 0.00 - 254 826 0.00 - 250 - 0.00 - 426
Issuance of Common Equity		 0.00 3.37 - 249 0.00 3.56 - 209 0.00 3.89 0.00
Other Financing Activities, net		 -0.98 -0.01 -0.11 -28 -2.56 -0.06 -0.02 -0.02 2.79 -0.11 -31
Cash Interest Paid		 41 29 40 38 36 34 34 35 33 30 38

Annual Balance Sheets for ONE Gas

This table presents ONE Gas' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 4,635 4,943 5,207 5,469 5,708 6,029 8,402 7,776 7,771 8,426 8,853
Total Current Assets		 483 569 589 543 506 540 2,225 1,218 765 930 916
Cash & Equivalents		 2.43 15 14 21 18 7.99 8.85 9.68 19 58 11
Restricted Cash		 - - - - - - 0.00 8.45 21 21 23
Accounts Receivable		 216 291 299 295 250 293 342 554 348 408 462
Inventories, net		 175 160 170 152 160 147 235 340 265 253 274
Prepaid Expenses		 - - - - - - - - - - 34
Current Deferred & Refundable Income Taxes		 39 - - - - - - - 3.95 54 56
Other Current Assets		 50 104 106 75 78 92 1,639 306 109 136 57
Plant, Property, & Equipment, net		 3,512 3,732 4,008 4,284 4,565 4,867 5,191 5,629 6,135 6,646 7,122
Plant, Property & Equipment, gross		 5,133 5,404 5,714 6,073 6,433 6,839 7,274 7,835 8,469 9,124 9,734
Accumulated Depreciation		 1,621 1,673 1,706 1,789 1,868 1,972 2,083 2,206 2,334 2,478 2,612
Total Noncurrent Assets		 640 642 610 642 637 622 987 930 871 850 815
Goodwill		 158 158 158 158 158 158 158 158 158 158 158
Intangible Assets		 - - - - - - 0.00 324 294 266 234
Employee Benefit Assets		 - - - - - - - - 36 43 47
Other Noncurrent Operating Assets		 482 484 452 484 479 464 829 448 383 383 376
Total Liabilities & Shareholders' Equity		 4,635 4,943 5,207 5,469 5,708 6,029 8,402 7,776 7,771 8,426 8,853
Total Liabilities		 2,793 3,055 3,247 3,426 3,579 3,795 6,053 5,192 5,005 5,321 5,413
Total Current Liabilities		 304 444 673 699 873 797 980 1,189 1,477 1,458 1,532
Short-Term Debt		 13 145 357 300 517 418 494 573 889 944 1,018
Accounts Payable		 107 132 144 175 120 152 259 360 278 261 222
Customer Deposits		 60 61 61 61 58 68 62 58 62 56 53
Other Taxes Payable		 37 43 41 48 48 64 67 78 69 76 76
Other Current Liabilities		 36 21 21 116 130 95 98 120 179 122 164
Total Noncurrent Liabilities		 2,489 2,611 2,573 2,727 2,706 2,998 5,072 4,003 3,528 3,863 3,881
Long-Term Debt		 1,192 1,192 1,193 1,285 1,286 1,582 3,683 2,662 2,160 2,385 2,356
Asset Retirement Reserve & Litigation Obligation		 - 0.00 519 521 504 548 553 529 500 468 452
Noncurrent Deferred & Payable Income Tax Liabilities		 952 1,039 600 652 683 657 695 698 752 892 964
Noncurrent Employee Benefit Liabilities		 272 304 173 179 116 98 35 20 0.00 0.00 0.00
Other Noncurrent Operating Liabilities		 73 76 88 90 118 114 105 93 115 118 110
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,842 1,888 1,960 2,043 2,129 2,233 2,350 2,584 2,766 3,105 3,440
Total Preferred & Common Equity		 1,842 1,888 1,960 2,043 2,129 2,233 2,350 2,584 2,766 3,105 3,440
Total Common Equity		 1,842 1,888 1,960 2,043 2,129 2,233 2,350 2,584 2,766 3,105 3,440
Common Stock		 1,765 1,750 1,738 1,728 1,734 1,757 1,791 1,933 2,029 2,295 2,531
Retained Earnings		 95 161 246 321 403 484 565 652 738 810 909
Accumulated Other Comprehensive Income / (Loss)		 -4.40 -4.72 -5.49 -4.09 -6.74 -7.78 -6.53 -0.70 -1.18 -0.13 0.00

Quarterly Balance Sheets for ONE Gas

This table presents ONE Gas' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q3 2023 Q1 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2022 6/30/2023 9/30/2023 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026 9/30/2026
Total Assets		 7,322 7,335 7,432 7,825 8,039 8,327 8,359 8,504 8,826 8,812 8,985
Total Current Assets		 958 587 564 600 691 756 681 679 797 662 694
Cash & Equivalents		 10 7.33 9.19 11 19 19 21 9.05 11 7.86 7.27
Restricted Cash		 - 32 8.85 22 9.96 8.88 22 12 12 23 12
Accounts Receivable		 193 234 177 193 176 447 263 210 405 251 216
Inventories, net		 410 217 279 225 275 157 230 295 217 255 307
Prepaid Expenses		 - - - - - - - - - 34 25
Current Deferred & Refundable Income Taxes		 - - - - - 54 54 54 56 0.00 0.00
Other Current Assets		 345 96 90 150 210 71 92 99 96 92 126
Plant, Property, & Equipment, net		 5,476 5,857 5,986 6,373 6,505 6,739 6,872 7,010 7,211 7,320 7,470
Plant, Property & Equipment, gross		 7,648 8,118 8,285 8,764 8,938 9,232 9,404 9,588 9,852 9,999 10,189
Accumulated Depreciation		 2,172 2,261 2,299 2,391 2,433 2,493 2,532 2,578 2,641 2,678 2,719
Total Noncurrent Assets		 888 891 882 852 844 832 806 815 817 783 822
Goodwill		 158 158 158 158 158 158 158 158 158 158 158
Intangible Assets		 - 310 302 279 273 258 249 241 226 219 211
Employee Benefit Assets		 - - - - - 44 46 52 47 - 51
Other Noncurrent Operating Assets		 730 424 422 415 414 372 353 364 386 406 401
Total Liabilities & Shareholders' Equity		 7,322 7,335 7,432 7,825 8,039 8,327 8,359 8,504 8,826 8,812 8,985
Total Liabilities		 4,875 4,680 4,786 4,998 5,227 5,142 5,175 5,322 5,300 5,227 5,455
Total Current Liabilities		 1,105 1,454 1,572 1,457 1,388 1,277 1,302 1,454 1,402 1,376 1,196
Short-Term Debt		 673 1,024 1,127 1,060 980 842 902 1,045 1,041 1,021 822
Accounts Payable		 191 154 169 165 147 176 131 121 138 111 127
Customer Deposits		 62 55 67 60 73 55 54 57 55 53 60
Other Taxes Payable		 73 54 68 56 72 78 59 74 71 57 75
Other Current Liabilities		 105 167 141 116 116 127 155 158 98 134 112
Total Noncurrent Liabilities		 3,771 3,226 3,214 3,541 3,839 3,865 3,873 3,868 3,898 3,851 4,259
Long-Term Debt		 2,429 1,876 1,863 2,147 2,385 2,370 2,371 2,356 2,340 2,341 2,695
Asset Retirement Reserve & Litigation Obligation		 537 513 509 485 483 457 454 462 441 433 431
Noncurrent Deferred & Payable Income Tax Liabilities		 690 727 733 790 851 921 929 938 999 1,013 1,022
Noncurrent Employee Benefit Liabilities		 22 20 20 20 20 0.00 0.00 0.00 0.00 -47 0.00
Other Noncurrent Operating Liabilities		 93 91 89 99 100 116 119 113 117 111 111
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,446 2,655 2,647 2,827 2,813 3,185 3,184 3,182 3,526 3,538 3,530
Total Preferred & Common Equity		 2,446 2,655 2,647 2,827 2,813 3,185 3,184 3,182 3,526 3,538 3,530
Total Common Equity		 2,446 2,655 2,647 2,827 2,813 3,185 3,184 3,182 3,526 3,538 3,530
Common Stock		 1,834 1,941 1,944 2,039 2,043 2,297 2,304 2,319 2,531 2,540 2,544
Retained Earnings		 619 715 703 789 770 888 880 864 995 998 986
Accumulated Other Comprehensive Income / (Loss)		 -6.42 -0.70 -0.71 -1.18 -0.93 -0.00 0.04 0.08 -0.18 -0.27 -0.54

Annual Metrics And Ratios for ONE Gas

This table displays calculated financial ratios and metrics derived from ONE Gas' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2024 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -14.91% -7.78% 7.88% 6.11% 1.16% -7.41% 18.19% 42.54% -19.18% -12.16% 16.50%
EBITDA Growth		 5.69% 11.72% 9.97% -3.73% 8.13% 4.80% 3.82% 11.66% 19.51% 5.44% 11.14%
EBIT Growth		 5.63% 13.74% 12.31% -8.32% 5.49% 2.81% 2.18% 12.61% 17.55% 5.01% 14.22%
NOPAT Growth		 6.75% 21.18% 12.20% 9.17% 9.14% 4.30% 3.62% 11.44% 18.59% 6.72% 9.65%
Net Income Growth		 8.42% 17.70% 16.35% 5.67% 8.43% 5.17% 5.10% 7.42% 0.50% -3.62% 18.57%
EPS Growth		 8.21% 18.30% 16.23% 5.52% 8.00% 4.84% 4.62% 5.97% -4.17% -5.56% 11.76%
Operating Cash Flow Growth		 65.37% -28.76% -12.66% 84.28% -33.64% 17.45% -521.31% 202.29% -40.19% -60.79% 57.12%
Free Cash Flow Firm Growth		 166.63% -90.88% -803.12% 254.07% -152.52% 9.24% -3,211.33% 149.52% -63.44% -168.20% 79.17%
Invested Capital Growth		 0.59% 5.48% 8.83% 2.60% 8.53% 7.97% 54.24% -11.00% -0.43% 10.03% 6.69%
Revenue Q/Q Growth		 -7.49% 3.75% 1.43% 0.13% -0.71% 2.11% 6.45% 9.54% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 1.74% 1.99% 3.02% -2.68% 2.18% 2.11% 0.26% 5.38% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 1.56% 1.94% 4.15% -4.99% 1.76% 1.48% 0.12% 6.52% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 2.51% 9.31% -2.98% 1.62% 2.20% 2.79% 1.18% 4.28% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 2.23% 2.27% 3.04% -1.38% 3.58% 3.79% 1.07% 3.03% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 3.23% 2.71% 2.67% -1.81% 3.85% 3.66% 0.79% 2.51% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 17.83% -16.69% -16.12% 20.49% -2.86% 5.00% -0.94% -0.63% 9.56% 318.86% 0.00%
Free Cash Flow Firm Q/Q Growth		 44.31% -63.39% -1,365.57% 273.32% -26.83% 12.42% -2.28% -5.65% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 3.21% 4.23% 6.52% 3.57% 3.82% 3.48% 3.01% 4.74% 0.00% 0.00% 3.33%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 24.05% 30.32% 30.44% 27.45% 28.78% 32.57% 28.61% 22.44% 33.39% 33.39% 31.92%
EBITDA Margin		 23.88% 28.93% 29.49% 26.76% 28.60% 32.37% 28.44% 22.28% 32.94% 33.75% 32.20%
Operating Margin		 15.45% 20.25% 20.57% 17.65% 17.86% 19.83% 17.15% 13.57% 19.15% 19.15% 18.85%
EBIT Margin		 15.29% 18.85% 19.63% 16.96% 17.68% 19.64% 16.98% 13.41% 19.51% 19.51% 19.13%
Profit (Net Income) Margin		 7.69% 9.82% 10.59% 10.54% 11.30% 12.84% 11.41% 8.60% 10.70% 10.70% 10.88%
Tax Burden Percent		 61.99% 62.17% 63.64% 76.29% 81.34% 82.53% 83.66% 82.66% 85.96% 85.96% 82.20%
Interest Burden Percent		 81.16% 83.74% 84.76% 81.48% 78.55% 79.20% 80.36% 77.58% 63.78% 63.78% 69.24%
Effective Tax Rate		 38.01% 37.83% 36.36% 23.71% 18.66% 17.47% 16.34% 17.34% 14.04% 14.04% 17.80%
Return on Invested Capital (ROIC)		 4.86% 5.71% 5.98% 6.18% 6.39% 6.15% 4.83% 4.70% 5.93% 5.65% 5.73%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.49% 2.62% 3.31% 3.11% 3.20% 3.29% 3.11% 2.87% 2.07% 1.82% 2.33%
Return on Net Nonoperating Assets (RNNOA)		 1.69% 1.80% 2.49% 2.43% 2.57% 2.85% 4.18% 4.29% 2.40% 1.94% 2.35%
Return on Equity (ROE)		 6.55% 7.51% 8.47% 8.61% 8.95% 9.00% 9.01% 8.99% 8.33% 7.59% 8.07%
Cash Return on Invested Capital (CROIC)		 4.27% 0.38% -2.48% 3.62% -1.80% -1.51% -37.84% 16.34% 6.36% -3.89% -0.75%
Operating Return on Assets (OROA)		 5.10% 5.62% 5.95% 5.19% 5.23% 5.12% 4.26% 4.27% 5.23% 5.02% 5.37%
Return on Assets (ROA)		 2.56% 2.93% 3.21% 3.23% 3.34% 3.35% 2.86% 2.74% 2.87% 2.75% 3.06%
Return on Common Equity (ROCE)		 6.55% 7.51% 8.47% 8.61% 8.95% 9.00% 9.01% 8.99% 8.33% 7.59% 8.07%
Return on Equity Simple (ROE_SIMPLE)		 6.46% 7.42% 8.32% 8.43% 8.77% 8.79% 8.79% 8.58% 8.06% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 148 180 202 220 240 250 260 289 343 343 376
NOPAT Margin		 9.58% 12.59% 13.09% 13.47% 14.53% 16.37% 14.35% 11.22% 16.46% 16.46% 15.49%
Net Nonoperating Expense Percent (NNEP)		 2.36% 3.09% 2.66% 3.07% 3.19% 2.86% 1.72% 1.83% 3.86% 3.84% 3.39%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 4.97% 5.90% 5.33% 5.52%
Cost of Revenue to Revenue		 75.95% 69.68% 69.56% 72.55% 71.22% 67.43% 71.39% 77.56% 66.61% 66.61% 68.08%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 8.59% 10.08% 9.87% 9.80% 10.92% 12.74% 11.46% 8.86% 14.24% 14.24% 13.07%
Earnings before Interest and Taxes (EBIT)		 237 269 302 277 292 300 307 346 406 406 464
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 370 413 454 437 473 495 514 574 686 703 782
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.11 1.41 1.59 1.71 1.98 1.60 1.60 1.47 1.41 1.22 1.35
Price to Tangible Book Value (P/TBV)		 1.21 1.54 1.73 1.85 2.14 1.73 1.72 1.81 1.68 1.41 1.52
Price to Revenue (P/Rev)		 1.32 1.86 2.03 2.14 2.55 2.34 2.08 1.47 1.87 1.82 1.91
Price to Earnings (P/E)		 17.10 18.99 19.16 20.29 22.60 18.23 18.27 17.14 17.44 16.99 17.54
Dividend Yield		 3.07% 2.75% 2.81% 2.77% 2.50% 3.20% 3.30% 3.53% 3.85% 3.95% 3.47%
Earnings Yield		 5.85% 5.27% 5.22% 4.93% 4.43% 5.49% 5.47% 5.83% 5.73% 5.88% 5.70%
Enterprise Value to Invested Capital (EV/IC)		 1.06 1.23 1.33 1.40 1.53 1.32 1.22 1.21 1.19 1.11 1.18
Enterprise Value to Revenue (EV/Rev)		 2.09 2.79 3.03 3.10 3.63 3.64 4.39 2.72 3.31 3.38 3.29
Enterprise Value to EBITDA (EV/EBITDA)		 8.76 9.65 10.26 11.57 12.70 11.25 15.44 12.22 10.05 10.01 10.20
Enterprise Value to EBIT (EV/EBIT)		 13.68 14.80 15.41 18.26 20.54 18.55 25.86 20.29 16.97 17.31 17.18
Enterprise Value to NOPAT (EV/NOPAT)		 21.84 22.17 23.11 22.99 25.00 22.25 30.59 24.26 20.11 20.52 21.21
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.94 13.71 18.35 10.82 19.35 15.29 0.00 4.47 7.34 19.10 13.78
Enterprise Value to Free Cash Flow (EV/FCFF)		 24.83 335.10 0.00 39.28 0.00 0.00 0.00 6.97 18.74 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.65 0.71 0.79 0.78 0.85 0.90 1.78 1.25 1.10 1.07 0.98
Long-Term Debt to Equity		 0.65 0.63 0.61 0.63 0.60 0.71 1.57 1.03 0.78 0.77 0.68
Financial Leverage		 0.68 0.69 0.75 0.78 0.80 0.87 1.34 1.50 1.16 1.07 1.01
Leverage Ratio		 2.55 2.57 2.64 2.67 2.68 2.69 3.15 3.28 2.91 2.76 2.64
Compound Leverage Factor		 2.07 2.15 2.24 2.17 2.10 2.13 2.53 2.54 1.85 1.76 1.83
Debt to Total Capital		 39.54% 41.46% 44.16% 43.69% 45.84% 47.25% 64.00% 55.59% 52.44% 51.74% 49.51%
Short-Term Debt to Total Capital		 0.41% 4.50% 10.18% 8.26% 13.14% 9.88% 7.57% 9.84% 15.29% 14.67% 14.94%
Long-Term Debt to Total Capital		 39.13% 36.97% 33.99% 35.44% 32.71% 37.37% 56.43% 45.74% 37.15% 37.08% 34.58%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 60.46% 58.54% 55.84% 56.31% 54.16% 52.75% 36.00% 44.41% 47.56% 48.26% 50.49%
Debt to EBITDA		 3.26 3.24 3.41 3.63 3.81 4.04 8.12 5.63 4.44 4.73 4.32
Net Debt to EBITDA		 3.25 3.20 3.38 3.58 3.78 4.02 8.11 5.60 4.39 4.62 4.27
Long-Term Debt to EBITDA		 3.22 2.89 2.63 2.94 2.72 3.19 7.16 4.64 3.15 3.39 3.01
Debt to NOPAT		 8.12 7.45 7.69 7.20 7.51 7.99 16.09 11.18 8.89 9.71 8.97
Net Debt to NOPAT		 8.11 7.36 7.62 7.11 7.43 7.96 16.06 11.12 8.77 9.48 8.88
Long-Term Debt to NOPAT		 8.04 6.64 5.92 5.84 5.36 6.32 14.19 9.20 6.30 6.96 6.27
Altman Z-Score		 1.01 1.07 1.11 1.13 1.19 1.05 0.98 1.04 0.93 0.89 1.02
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.59 1.28 0.87 0.78 0.58 0.68 2.27 1.02 0.52 0.64 0.60
Quick Ratio		 0.72 0.69 0.47 0.45 0.31 0.38 0.36 0.47 0.25 0.32 0.31
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 130 12 -84 129 -68 -61 -2,033 1,007 368 -236 -49
Operating Cash Flow to CapEx		 138.60% 94.17% 71.22% 118.57% 73.38% 77.96% -311.16% 259.44% 142.11% 52.85% 82.38%
Free Cash Flow to Firm to Interest Expense		 2.92 0.27 -1.81 2.51 -1.08 -0.98 -33.71 12.99 2.50 -1.60 -0.34
Operating Cash Flow to Interest Expense		 9.15 6.64 5.51 9.12 4.95 5.83 -25.47 20.27 6.38 2.50 4.05
Operating Cash Flow Less CapEx to Interest Expense		 2.55 -0.41 -2.23 1.43 -1.80 -1.65 -33.65 12.46 1.89 -2.23 -0.87
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.33 0.30 0.30 0.31 0.30 0.26 0.25 0.32 0.27 0.26 0.28
Accounts Receivable Turnover		 5.70 5.63 5.22 5.50 6.06 5.64 5.70 5.76 4.62 5.51 5.58
Inventory Turnover		 6.06 5.94 6.50 7.37 7.55 6.73 6.77 6.96 4.59 5.36 6.27
Fixed Asset Turnover		 0.45 0.39 0.40 0.39 0.37 0.32 0.36 0.48 0.35 0.33 0.35
Accounts Payable Turnover		 8.82 8.31 7.77 7.45 7.98 7.57 6.28 6.46 4.35 5.15 6.84
Days Sales Outstanding (DSO)		 64.04 64.87 69.90 66.38 60.23 64.76 64.05 63.40 78.98 66.25 65.41
Days Inventory Outstanding (DIO)		 60.28 61.48 56.12 49.50 48.32 54.24 53.89 52.45 79.54 68.06 58.18
Days Payable Outstanding (DPO)		 41.38 43.95 46.97 49.00 45.74 48.25 58.08 56.50 83.97 70.92 53.38
Cash Conversion Cycle (CCC)		 82.94 82.40 79.05 66.88 62.81 70.75 59.86 59.34 74.55 63.38 70.21
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,062 3,230 3,515 3,606 3,914 4,226 6,518 5,801 5,776 6,355 6,780
Invested Capital Turnover		 0.51 0.45 0.46 0.46 0.44 0.38 0.34 0.42 0.36 0.34 0.37
Increase / (Decrease) in Invested Capital		 18 168 285 91 308 312 2,292 -717 -25 579 425
Enterprise Value (EV)		 3,237 3,983 4,658 5,059 6,005 5,573 7,939 7,017 6,897 7,037 7,975
Market Capitalization		 2,035 2,660 3,122 3,495 4,220 3,580 3,771 3,801 3,887 3,787 4,635
Book Value per Share		 $35.31 $36.14 $37.50 $38.89 $40.38 $42.06 $43.84 $47.74 $48.82 $54.80 $57.34
Tangible Book Value per Share		 $32.28 $33.12 $34.48 $35.88 $37.38 $39.09 $40.90 $38.84 $40.85 $47.32 $50.81
Total Capital		 3,046 3,226 3,511 3,628 3,932 4,234 6,527 5,819 5,815 6,433 6,814
Total Debt		 1,204 1,337 1,550 1,585 1,803 2,001 4,177 3,234 3,049 3,329 3,374
Total Long-Term Debt		 1,192 1,192 1,193 1,285 1,286 1,582 3,683 2,662 2,160 2,385 2,356
Net Debt		 1,202 1,323 1,536 1,564 1,785 1,993 4,169 3,216 3,010 3,250 3,340
Capital Expenditures (CapEx)		 294 309 356 394 423 468 494 605 661 697 703
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 189 255 258 123 132 153 1,729 583 138 337 368
Debt-free Net Working Capital (DFNWC)		 191 270 273 144 150 161 1,738 601 177 415 402
Net Working Capital (NWC)		 179 125 -84 -156 -367 -257 1,244 28 -712 -528 -616
Net Nonoperating Expense (NNE)		 29 40 39 48 53 54 53 68 120 120 112
Net Nonoperating Obligations (NNO)		 1,221 1,342 1,555 1,564 1,785 1,993 4,169 3,216 3,010 3,250 3,340
Total Depreciation and Amortization (D&A)		 133 144 152 160 180 195 207 228 280 297 317
Debt-free, Cash-free Net Working Capital to Revenue		 12.19% 17.89% 16.79% 7.50% 7.99% 10.00% 95.61% 22.61% 6.60% 16.16% 15.16%
Debt-free Net Working Capital to Revenue		 12.35% 18.92% 17.72% 8.81% 9.07% 10.52% 96.10% 23.31% 8.49% 19.93% 16.55%
Net Working Capital to Revenue		 11.54% 8.76% -5.48% -9.52% -22.18% -16.81% 68.79% 1.09% -34.17% -25.36% -25.38%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.26 $2.67 $3.10 $3.27 $3.53 $3.70 $3.85 $4.09 $3.92 $0.00 $4.39
Adjusted Weighted Average Basic Shares Outstanding		 52.58M 52.45M 52.53M 52.69M 52.90M 53.13M 53.58M 54.21M 56.83M 0.00 60.16M
Adjusted Diluted Earnings per Share		 $2.24 $2.65 $3.08 $3.25 $3.51 $3.68 $3.85 $4.08 $3.91 $0.00 $4.37
Adjusted Weighted Average Diluted Shares Outstanding		 53.25M 52.96M 52.98M 53.03M 53.24M 53.37M 53.67M 54.34M 57.03M 0.00 60.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 52.29M 52.28M 52.32M 52.57M 52.77M 53.24M 53.63M 55.35M 59.88M 0.00 62.69M
Normalized Net Operating Profit after Tax (NOPAT)		 148 180 202 220 240 250 260 289 343 343 376
Normalized NOPAT Margin		 9.58% 12.59% 13.09% 13.47% 14.53% 16.37% 14.35% 11.22% 16.46% 16.46% 15.49%
Pre Tax Income Margin		 12.41% 15.79% 16.64% 13.82% 13.89% 15.55% 13.64% 10.41% 12.44% 12.44% 13.24%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.31 6.15 6.56 5.40 4.66 4.81 5.09 4.46 2.76 2.76 3.25
NOPAT to Interest Expense		 3.33 4.11 4.38 4.29 3.83 4.01 4.30 3.73 2.33 2.33 2.63
EBIT Less CapEx to Interest Expense		 -1.30 -0.90 -1.18 -2.29 -2.08 -2.67 -3.09 -3.35 -1.73 -1.97 -1.67
NOPAT Less CapEx to Interest Expense		 -3.28 -2.95 -3.36 -3.40 -2.92 -3.47 -3.88 -4.08 -2.16 -2.41 -2.29
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 52.78% 52.26% 53.96% 56.08% 56.45% 58.23% 60.03% 60.41% 64.66% 67.07% 60.82%
Augmented Payout Ratio		 73.05% 69.44% 64.70% 56.08% 56.45% 58.23% 60.03% 60.41% 64.66% 67.07% 60.82%

Quarterly Metrics And Ratios for ONE Gas

This table displays calculated financial ratios and metrics derived from ONE Gas' official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 6/30/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
DEI Shares Outstanding		 - - - - - - - - 62,692,484.00 62,762,533.00 62,856,270.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 62,692,484.00 62,762,533.00 62,856,270.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 2.05 0.75 0.50
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -11.05% 0.00% 1.36% 0.00% 23.32% 19.65% 11.38% 9.30% -11.07% -2.86% 3.21%
EBITDA Growth		 6.82% 0.00% 7.05% 0.00% 16.28% 7.66% 7.52% 10.27% 0.59% 6.76% 6.61%
EBIT Growth		 6.13% 0.00% 9.03% 0.00% 21.19% 5.94% 8.51% 13.39% 3.58% 18.09% 10.15%
NOPAT Growth		 5.10% 0.00% 0.03% 0.00% 20.83% 3.69% 8.65% 1.92% 6.02% 15.89% 18.87%
Net Income Growth		 -16.66% 0.00% -23.51% 0.00% 20.24% 17.58% 37.36% 12.05% 7.75% 46.12% 17.97%
EPS Growth		 -17.24% 0.00% -24.44% 0.00% 13.14% 10.42% 29.41% 5.97% 3.03% 39.62% 11.36%
Operating Cash Flow Growth		 -76.92% 0.00% 0.00% -35.44% 156.28% 20.11% 58.62% -31.32% -36.45% 23.15% 38.44%
Free Cash Flow Firm Growth		 -136.80% 0.00% -1,445.89% 0.00% 39.42% 0.00% 25.36% 0.00% -62.96% 93.93% -12.09%
Invested Capital Growth		 8.80% 0.00% 9.44% 0.00% 6.13% 0.00% 6.71% 6.69% 8.09% 7.08% 7.10%
Revenue Q/Q Growth		 0.00% -53.30% 0.00% 85.28% 0.00% -54.69% -10.53% 81.83% 20.65% -50.51% -4.94%
EBITDA Q/Q Growth		 0.00% -36.79% 0.00% 48.54% 0.00% -41.48% -5.90% 52.33% 19.92% -37.90% -6.02%
EBIT Q/Q Growth		 0.00% -52.96% 0.00% 99.28% 0.00% -58.88% -8.98% 108.25% 32.90% -53.12% -15.10%
NOPAT Q/Q Growth		 0.00% -53.81% 0.00% 129.89% 0.00% -60.36% -9.08% 115.64% 36.42% -56.67% -6.75%
Net Income Q/Q Growth		 0.00% -72.57% 0.00% 299.74% 0.00% -73.18% -17.38% 226.10% 49.09% -63.62% -33.30%
EPS Q/Q Growth		 0.00% -72.57% 0.00% 294.12% 0.00% -73.23% -16.98% 222.73% 43.66% -63.73% -33.78%
Operating Cash Flow Q/Q Growth		 122.83% 31.78% 0.00% 14.17% 0.00% -38.24% -49.22% -50.56% 309.89% 19.68% -42.92%
Free Cash Flow Firm Q/Q Growth		 0.00% 100.00% 0.00% 100.00% 0.00% -2,794.81% 94.35% 13.72% -15.44% -7.90% -4.29%
Invested Capital Q/Q Growth		 0.00% -100.00% 0.00% 3.35% 0.00% 0.72% 2.29% 3.33% 1.53% -0.22% 2.32%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 40.09% 40.05% 38.65% 31.67% 28.04% 35.67% 37.54% 31.77% 32.03% 38.60% 40.12%
EBITDA Margin		 41.46% 40.33% 39.53% 31.69% 28.09% 36.28% 38.16% 31.97% 31.78% 39.87% 39.42%
Operating Margin		 19.60% 19.56% 17.46% 19.71% 19.30% 16.96% 17.25% 20.27% 22.80% 20.08% 19.77%
EBIT Margin		 19.84% 19.84% 18.34% 19.73% 19.36% 17.56% 17.87% 20.47% 22.54% 21.35% 19.07%
Profit (Net Income) Margin		 7.69% 7.69% 5.66% 12.21% 12.77% 7.56% 6.98% 12.52% 15.47% 11.37% 7.98%
Tax Burden Percent		 81.84% 81.84% 82.76% 90.98% 82.18% 81.83% 81.76% 82.49% 82.94% 82.42% 82.11%
Interest Burden Percent		 47.38% 47.38% 37.29% 68.04% 80.28% 52.60% 47.78% 74.16% 82.74% 64.61% 50.96%
Effective Tax Rate		 18.16% 18.16% 17.24% 9.02% 17.82% 18.17% 18.24% 17.51% 17.06% 17.58% 17.89%
Return on Invested Capital (ROIC)		 5.68% 0.00% 0.00% 5.88% 0.00% 0.00% 0.00% 6.18% 6.63% 5.76% 5.55%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.70% 0.00% 0.00% 4.77% 0.00% 0.00% 0.00% 5.30% 5.76% 5.11% 4.61%
Return on Net Nonoperating Assets (RNNOA)		 5.18% 0.00% 0.00% 4.99% 0.00% 0.00% 0.00% 5.34% 5.61% 4.99% 4.73%
Return on Equity (ROE)		 10.86% 0.00% 0.00% 10.87% 0.00% 0.00% 0.00% 11.52% 12.24% 10.75% 10.28%
Cash Return on Invested Capital (CROIC)		 -2.41% 0.00% 0.00% -3.72% -5.95% 0.00% 0.00% -0.75% -1.96% -0.90% -0.91%
Operating Return on Assets (OROA)		 5.34% 0.00% 0.00% 5.08% 0.00% 0.00% 0.00% 5.75% 6.11% 5.75% 5.07%
Return on Assets (ROA)		 2.07% 0.00% 0.00% 3.14% 0.00% 0.00% 0.00% 3.52% 4.19% 3.06% 2.12%
Return on Common Equity (ROCE)		 10.86% 0.00% 0.00% 10.87% 0.00% 0.00% 0.00% 11.52% 12.24% 10.75% 10.28%
Return on Equity Simple (ROE_SIMPLE)		 7.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 57 57 49 113 148 59 53 115 157 68 64
NOPAT Margin		 16.04% 16.01% 14.45% 17.93% 15.86% 13.88% 14.10% 16.72% 18.91% 16.55% 16.24%
Net Nonoperating Expense Percent (NNEP)		 0.98% 0.00% 0.95% 1.11% 0.91% 1.66% 0.80% 0.88% 0.87% 0.65% 0.94%
Return On Investment Capital (ROIC_SIMPLE)		 0.94% - - 1.76% 2.32% 0.91% 0.81% 1.69% 2.28% 0.99% 0.90%
Cost of Revenue to Revenue		 59.91% 59.95% 61.35% 68.33% 71.96% 64.33% 62.46% 68.23% 67.97% 61.40% 59.88%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 20.49% 20.49% 21.19% 11.96% 8.74% 18.72% 20.29% 11.50% 9.23% 18.52% 20.35%
Earnings before Interest and Taxes (EBIT)		 70 70 62 124 181 74 68 141 187 88 75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 147 143 135 200 263 154 145 220 264 164 154
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.24 0.00 1.50 1.22 1.42 1.35 1.53 1.35 1.53 1.37 1.28
Price to Tangible Book Value (P/TBV)		 1.47 0.00 1.77 1.41 1.63 1.55 1.75 1.52 1.72 1.53 1.43
Price to Revenue (P/Rev)		 1.72 0.00 0.00 1.82 0.00 0.00 0.00 1.91 2.32 2.09 1.94
Price to Earnings (P/E)		 16.16 0.00 0.00 16.99 0.00 0.00 0.00 17.54 19.74 16.78 15.42
Dividend Yield		 4.22% 4.26% 3.53% 3.95% 3.51% 3.70% 3.30% 3.47% 3.12% 3.50% 3.77%
Earnings Yield		 6.19% 0.00% 0.00% 5.88% 0.00% 0.00% 0.00% 5.70% 5.06% 5.96% 6.49%
Enterprise Value to Invested Capital (EV/IC)		 1.11 0.00 1.23 1.11 1.21 1.18 1.26 1.18 1.27 1.19 1.14
Enterprise Value to Revenue (EV/Rev)		 3.28 0.00 0.00 3.38 0.00 0.00 0.00 3.29 3.77 3.53 3.45
Enterprise Value to EBITDA (EV/EBITDA)		 9.61 0.00 0.00 10.01 0.00 0.00 0.00 10.20 11.18 10.29 9.98
Enterprise Value to EBIT (EV/EBIT)		 16.29 0.00 0.00 17.31 0.00 0.00 0.00 17.18 18.60 16.87 16.32
Enterprise Value to NOPAT (EV/NOPAT)		 19.30 0.00 0.00 20.52 0.00 0.00 0.00 21.21 22.74 20.71 19.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.55 0.00 18.75 19.10 0.00 0.00 0.00 13.78 18.33 15.79 14.55
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.13 0.00 1.20 1.07 1.01 1.03 1.07 0.98 0.96 0.95 1.00
Long-Term Debt to Equity		 0.76 0.00 0.85 0.77 0.74 0.74 0.74 0.68 0.66 0.66 0.76
Financial Leverage		 1.10 0.00 1.16 1.05 1.06 1.01 1.12 1.01 0.97 0.98 1.02
Leverage Ratio		 2.77 0.00 2.83 2.76 2.69 2.63 2.76 2.64 2.56 2.55 2.61
Compound Leverage Factor		 1.31 0.00 1.06 1.88 2.16 1.38 1.32 1.96 2.11 1.65 1.33
Debt to Total Capital		 53.15% 0.00% 54.47% 51.74% 50.21% 50.69% 51.65% 49.51% 48.95% 48.72% 49.91%
Short-Term Debt to Total Capital		 17.56% 0.00% 15.87% 14.67% 13.16% 13.97% 15.87% 14.94% 15.07% 14.79% 11.67%
Long-Term Debt to Total Capital		 35.58% 0.00% 38.60% 37.08% 37.05% 36.72% 35.79% 34.58% 33.88% 33.93% 38.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 46.85% 0.00% 45.53% 48.26% 49.79% 49.31% 48.35% 50.49% 51.05% 51.28% 50.09%
Debt to EBITDA		 4.61 0.00 0.00 4.73 0.00 0.00 0.00 4.32 4.32 4.24 4.38
Net Debt to EBITDA		 4.56 0.00 0.00 4.62 0.00 0.00 0.00 4.27 4.29 4.20 4.36
Long-Term Debt to EBITDA		 3.09 0.00 0.00 3.39 0.00 0.00 0.00 3.01 2.99 2.95 3.36
Debt to NOPAT		 9.26 0.00 0.00 9.71 0.00 0.00 0.00 8.97 8.78 8.52 8.70
Net Debt to NOPAT		 9.16 0.00 0.00 9.48 0.00 0.00 0.00 8.88 8.72 8.45 8.65
Long-Term Debt to NOPAT		 6.20 0.00 0.00 6.96 0.00 0.00 0.00 6.27 6.08 5.94 6.66
Altman Z-Score		 0.72 0.00 0.00 0.78 0.67 0.59 0.61 0.90 1.02 0.91 0.87
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.41 0.00 0.50 0.64 0.59 0.52 0.47 0.60 0.57 0.48 0.58
Quick Ratio		 0.14 0.00 0.14 0.32 0.36 0.22 0.15 0.31 0.30 0.19 0.19
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -428 0.00 -481 0.00 -220 -6,356 -359 -310 -358 -386 -403
Operating Cash Flow to CapEx		 65.72% 81.67% 0.00% 35.06% 167.73% 95.72% 45.47% 25.79% 116.45% 122.94% 56.90%
Free Cash Flow to Firm to Interest Expense		 -11.59 0.00 -12.29 0.00 -6.15 -180.16 -10.15 -8.50 -11.06 -12.41 -11.00
Operating Cash Flow to Interest Expense		 2.93 3.86 0.00 1.58 7.77 4.86 2.46 1.18 5.45 6.78 3.29
Operating Cash Flow Less CapEx to Interest Expense		 -1.53 -0.87 0.00 -2.92 3.14 -0.22 -2.95 -3.40 0.77 1.27 -2.49
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.27 0.00 0.00 0.26 0.00 0.00 0.00 0.28 0.27 0.27 0.27
Accounts Receivable Turnover		 9.54 0.00 0.00 5.51 0.00 0.00 0.00 5.58 5.46 9.00 10.91
Inventory Turnover		 6.03 0.00 0.00 5.36 0.00 0.00 0.00 6.27 8.27 6.29 5.05
Fixed Asset Turnover		 0.33 0.00 0.00 0.33 0.00 0.00 0.00 0.35 0.33 0.33 0.32
Accounts Payable Turnover		 8.36 0.00 0.00 5.15 0.00 0.00 0.00 6.84 9.86 12.61 12.29
Days Sales Outstanding (DSO)		 38.27 0.00 0.00 66.25 0.00 0.00 0.00 65.41 66.90 40.57 33.46
Days Inventory Outstanding (DIO)		 60.51 0.00 0.00 68.06 0.00 0.00 0.00 58.18 44.13 58.02 72.25
Days Payable Outstanding (DPO)		 43.67 0.00 0.00 70.92 0.00 0.00 0.00 53.38 37.03 28.95 29.69
Cash Conversion Cycle (CCC)		 55.11 0.00 0.00 63.38 0.00 0.00 0.00 70.21 74.00 69.64 76.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,001 0.00 6,149 6,355 6,369 6,415 6,562 6,780 6,884 6,869 7,028
Invested Capital Turnover		 0.35 0.00 0.00 0.33 0.00 0.00 0.00 0.37 0.35 0.35 0.34
Increase / (Decrease) in Invested Capital		 485 0.00 530 0.00 368 6,415 413 425 515 454 466
Enterprise Value (EV)		 6,687 0.00 7,553 7,037 7,710 7,537 8,236 7,975 8,758 8,168 8,016
Market Capitalization		 3,513 3,482 4,216 3,787 4,526 4,307 4,856 4,635 5,400 4,837 4,517
Book Value per Share		 $49.97 $0.00 $49.65 $54.80 $53.19 $53.13 $53.04 $57.34 $56.24 $56.37 $56.16
Tangible Book Value per Share		 $42.25 $0.00 $42.05 $47.32 $46.24 $46.34 $46.38 $50.81 $50.11 $50.36 $50.29
Total Capital		 6,033 0.00 6,178 6,433 6,397 6,457 6,583 6,814 6,907 6,899 7,047
Total Debt		 3,207 0.00 3,365 3,329 3,212 3,273 3,400 3,374 3,381 3,362 3,517
Total Long-Term Debt		 2,147 0.00 2,385 2,385 2,370 2,371 2,356 2,356 2,340 2,341 2,695
Net Debt		 3,174 0.00 3,336 3,250 3,184 3,230 3,379 3,340 3,358 3,331 3,498
Capital Expenditures (CapEx)		 165 175 0.00 179 165 179 191 167 151 172 212
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 170 0.00 255 337 292 239 249 368 412 276 301
Debt-free Net Working Capital (DFNWC)		 203 0.00 283 415 321 281 270 402 435 306 320
Net Working Capital (NWC)		 -857 0.00 -697 -528 -521 -621 -775 -616 -606 -715 -502
Net Nonoperating Expense (NNE)		 30 29 30 36 29 27 27 29 29 21 32
Net Nonoperating Obligations (NNO)		 3,174 0.00 3,336 3,250 3,184 3,230 3,379 3,340 3,358 3,331 3,498
Total Depreciation and Amortization (D&A)		 77 73 72 75 82 79 77 79 77 76 80
Debt-free, Cash-free Net Working Capital to Revenue		 8.36% 0.00% 0.00% 16.16% 0.00% 0.00% 0.00% 15.16% 17.74% 11.92% 12.94%
Debt-free Net Working Capital to Revenue		 9.95% 0.00% 0.00% 19.93% 0.00% 0.00% 0.00% 16.55% 18.73% 13.24% 13.76%
Net Working Capital to Revenue		 -42.01% 0.00% 0.00% -25.36% 0.00% 0.00% 0.00% -25.38% -26.06% -30.91% -21.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.48 $0.00 $0.34 $1.35 $1.99 $0.53 $0.44 $1.43 $2.05 $0.74 $0.50
Adjusted Weighted Average Basic Shares Outstanding		 56.75M 0.00 56.83M 56.83M 60.08M 60.11M 60.18M 60.16M 62.91M 62.96M 63.03M
Adjusted Diluted Earnings per Share		 $0.48 $0.00 $0.34 $1.34 $1.98 $0.53 $0.44 $1.42 $2.04 $0.74 $0.49
Adjusted Weighted Average Diluted Shares Outstanding		 56.83M 0.00 57.09M 57.03M 60.27M 60.46M 60.55M 60.51M 63.20M 63.15M 63.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 56.65M 0.00 56.66M 0.00 59.93M 60.00M 60.00M 62.69M 62.76M 62.86M 62.86M
Normalized Net Operating Profit after Tax (NOPAT)		 57 57 49 113 148 59 53 115 157 68 64
Normalized NOPAT Margin		 16.04% 16.01% 14.45% 17.93% 15.86% 13.88% 14.10% 16.72% 18.91% 16.55% 16.24%
Pre Tax Income Margin		 9.40% 9.40% 6.84% 13.42% 15.54% 9.24% 8.54% 15.18% 18.65% 13.80% 9.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.90 1.90 1.59 3.13 5.07 2.11 1.92 3.87 5.79 2.83 2.04
NOPAT to Interest Expense		 1.54 1.53 1.26 2.84 4.16 1.67 1.51 3.16 4.86 2.19 1.74
EBIT Less CapEx to Interest Expense		 -2.56 -2.82 0.00 -1.36 0.44 -2.96 -3.49 -0.71 1.12 -2.69 -3.75
NOPAT Less CapEx to Interest Expense		 -2.92 -3.19 0.00 -1.65 -0.48 -3.41 -3.90 -1.41 0.18 -3.33 -4.05
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 66.89% 0.00% 0.00% 67.07% 0.00% 0.00% 0.00% 60.82% 59.69% 57.50% 57.44%
Augmented Payout Ratio		 66.89% 0.00% 0.00% 67.07% 0.00% 0.00% 0.00% 60.82% 59.69% 57.50% 57.44%

Financials Breakdown Chart

Key Financial Trends

ONE Gas (NYSE: OGS) showed improving profitability in the latest quarter despite lower revenue. Q2 2026 revenue was $411.6 million, down 2.9% from $423.7 million in Q2 2025. However, gross profit increased 5.1% to $158.9 million, lifting the gross margin to approximately 38.6% from 35.7%. Operating income rose 15.0% to $82.7 million, while net income increased 46.1% to $46.8 million. Diluted EPS improved to $0.74 from $0.53.

The earnings improvement reflects better operating margins and lower interest expense. Interest expense declined to $31.1 million in Q2 2026 from $35.3 million a year earlier, although the company continues to carry substantial debt. Results also improved year over year in Q3 and Q4 2025, with net income rising approximately 37% and 12%, respectively. Q1 2026 net income increased 7.8% year over year despite an 11.1% revenue decline, suggesting that profitability has been more resilient than sales.

Cash generation remains uneven and heavily seasonal. Q2 2026 operating cash flow was $211.0 million, up from $171.4 million in Q2 2025, but capital expenditures increased to $173.5 million from $180.5 million, leaving estimated free cash flow of roughly $37.5 million. Q1 2026 operating cash flow of $176.3 million was below the $277.5 million reported in Q1 2025, while Q4 2025 operating cash flow was only $43.0 million. This volatility is consistent with the company’s working-capital swings and significant infrastructure investment requirements.

The balance sheet reflects continued expansion of the regulated utility asset base. Net property, plant and equipment increased to $7.3 billion in Q2 2026 from $6.9 billion in Q2 2025 and $6.0 billion in Q3 2023. Total assets reached $8.8 billion. At the same time, total debt was approximately $3.36 billion, including $1.02 billion of short-term debt, and total liabilities represented roughly 59% of assets. Cash and restricted cash totaled only $30.6 million at quarter-end, down from $34.2 million at the end of Q1 2026.

  • Profitability improved: Q2 2026 operating income increased 15.0% and net income rose 46.1% year over year.
  • Margins expanded: Gross margin increased to approximately 38.6% from 35.7% in Q2 2025, indicating improved profitability despite lower revenue.
  • Operating cash flow rebounded in Q2: Cash from operating activities rose to $211.0 million from $171.4 million a year earlier.
  • Interest expense declined: Q2 interest expense fell to $31.1 million from $35.3 million, providing some support to pretax earnings.
  • Infrastructure investment continues: Net PP&E has grown steadily, reaching $7.3 billion in Q2 2026 versus $5.9 billion in Q1 2023, which may support the company’s long-term regulated rate base.
  • Results remain seasonal: Revenue, earnings and cash flow vary significantly by quarter, making year-over-year comparisons more useful than sequential comparisons.
  • Dividend growth has been modest: The quarterly dividend increased to $0.68 per share in 2026 from $0.67 in 2025 and $0.66 in 2024.
  • Revenue remains inconsistent: Q2 2026 revenue declined year over year, and Q1 2026 revenue was down 11.1% from Q1 2025.
  • Capital spending absorbs most operating cash: Q2 2026 capital expenditures of $173.5 million left relatively limited free cash flow after investment spending.
  • Liquidity and leverage warrant monitoring: Cash and restricted cash declined to $30.6 million, while total debt remained near $3.4 billion and the quarterly dividend consumed approximately 91% of Q2 net income.

Overall, OGS’s recent statements show stronger earnings quality through improved margins, lower interest costs and better Q2 operating cash flow. The main risks are the company’s large capital program, low cash balance, meaningful short-term debt and continued revenue volatility. Investors should also account for the restated historical figures in the dataset and avoid interpreting any single quarter as representative of full-year performance.

11/11/26 12:50 PM ETAI Generated. May Contain Errors.

ONE Gas Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ONE Gas' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

ONE Gas' net income appears to be on an upward trend, with a most recent value of $264.22 million in 2025, rising from $119.03 million in 2015. The previous period was $222.85 million in 2024. View ONE Gas' forecast to see where analysts expect ONE Gas to go next.

ONE Gas' total operating income in 2025 was $457.47 million, based on the following breakdown:
  • Total Gross Profit: $774.72 million
  • Total Operating Expenses: $317.26 million

Over the last 10 years, ONE Gas' total revenue changed from $1.55 billion in 2015 to $2.43 billion in 2025, a change of 56.8%.

In the past 16 quarters, ONE Gas' cash and equivalents has ranged from $7.27 million in Q3 2026 to $20.55 million in Q2 2025, and is currently $7.27 million as of their latest financial filing in Q3 2026.

ONE Gas had total debt of $3.37 billion at the end of 2025, a 1.3% increase from 2024, and a 180.2% increase since 2015.

Over the last 10 years, ONE Gas' book value per share changed from 35.31 in 2015 to 57.34 in 2025, a change of 62.4%.


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Financial statements for NYSE:OGS last updated on 11/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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