Centuri Holdings, Inc. (CTRI) vs ONE Gas, Inc. (OGS)

Centuri Holdings, Inc. and ONE Gas, Inc. are both Utilities Regulated Gas companies. ONE Gas, Inc. is the larger, with a market value of $4.5B against $2.1B — 2.2× the size. ONE Gas, Inc. trades at the lower P/E: 15.4× against 66.5×. Centuri Holdings, Inc. grew revenue faster over the last twelve months: 25.2% against −0.78%. ONE Gas, Inc. has the higher net margin (12.5% vs 0.85%) and the higher return on invested capital (4.87% vs 3.73%). Across the 19 metrics below, ONE Gas, Inc. leads on 11 and Centuri Holdings, Inc. on 8.

Valuation

Metric CTRI OGS Utilities Regulated Gas median
P/E 66.55 15.41 15.65
P/S 0.61 1.96 2.04
P/B 2.40 1.28 1.50
Price to free cash flow 72.19 n/m —
EV/EBITDA 10.46 9.04 11.49
EV/Sales 0.82 3.08 3.54
Earnings yield 1.50% 6.49% 6.39%
Free cash flow yield 1.39% (3.82%) (5.71%)

Profitability

Metric CTRI OGS Utilities Regulated Gas median
Gross margin 7.76% 63.13% 63.14%
Operating margin 2.73% 20.65% 21.47%
Net margin 0.85% 12.47% 13.00%
Free cash flow margin 0.85% (7.48%) (13.27%)
Return on equity 4.02% 8.58% 9.47%
Return on assets 1.28% 3.36% 3.80%
Return on invested capital 3.73% 4.87% 4.29%

Growth

Metric CTRI OGS Utilities Regulated Gas median
Revenue growth (TTM) 25.17% (0.78%) 6.36%
EPS growth (last fiscal year) 412.50% 11.76% —
Revenue growth, 5-year CAGR — 9.67% 6.36%
Net income growth, 5-year CAGR — 6.11% 8.10%

Health

Metric CTRI OGS Utilities Regulated Gas median
Debt to equity 0.83 0.74 1.22
Current ratio 1.82 0.48 0.78
Net debt to EBITDA 2.41 3.36 4.68

Dividend

Metric CTRI OGS Utilities Regulated Gas median
Dividend yield — 4.31% 4.31%
Payout ratio — 0.62 0.62

Size

Metric CTRI OGS Utilities Regulated Gas median
Market cap 2.06b 4.52b 4.52b

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