ONE Gas, Inc.

OGS Utilities Utilities Regulated Gas

ONE Gas, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 16.5% from fiscal 2024.

Revenue
+3.21%
EPS
+12.6%
Free cash flow
+12.7%
Total debt
+2.25%

Quarter to September 2026, against a year earlier

81.62 0.60 −0.73%
Market cap
$5.1B
P/E
17.3×
Fwd P/E
16.2×
Dividend yield
3.32%
F-score
6/9
Altman Z
1.02
Beneish M
−2.51
Dividend safety
44/100

ONE Gas, Inc. (OGS) Operating margin

Alert me on Operating margin

ONE Gas, Inc.'s operating margin over the twelve months to 30 September 2026 was 21.1%, up 2.2 percentage points from fiscal 2025 (18.9%). Over the past ten years it has ranged from 13.6% (fiscal 2022) to 20.6% (fiscal 2017); the current reading is higher than 64% of that period. That is below the Utilities Regulated Gas industry median of 22.8% and above the Utilities sector median of 18.7%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 18.9% (0.30)
FY2024 19.2% 3.23
FY2023 15.9% 2.35
FY2022 13.6% (3.58)
FY2021 17.2% (2.68)
FY2020 19.8% 1.97
FY2019 17.9% 0.21
FY2018 17.7% (2.92)
FY2017 20.6% 0.32
FY2016 20.3% 4.80

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 19.8% (0.31)
Jun 2026 20.1% (2.72)
Mar 2026 22.8% 2.53
Dec 2025 20.3% 3.02
43 more quarters

Against its own ten years

Low 13.6% High 20.6%
Ten-year median 17.9%
Current reading's percentile 98

Operating margin against peers

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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