What is ONE GAS, INC.'s earnings per share (EPS)?

ONE GAS, INC. (OGS) reported diluted earnings per share of $4.37 for fiscal year 2025. This represents a 11.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ONE GAS, INC. (OGS) Financials

OGS

FY2025 annual

Net Income $264.2M +18.6% YoY

EPS (Diluted) $4.37 +11.8% YoY

Free Cash Flow -$128.4M +61.6% YoY

Operating Cash Flow $578.8M +57.1% YoY

Market Cap $4.7B as of Oct 14, 2026

Price / Sales n/m no revenue reported

Price / Earnings 17.6x on $264.2M net income, FY2025

Price / Book 1.3x on $3.5B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OGS SEC filings page.

This page shows ONE GAS, INC. (OGS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OGS FY2025 2026-10-03

ONE Gas converts accounting profit into cash only partially because its recurring infrastructure investment still exceeds operating cash generation.

In FY2024 and FY2025, operating cash flow rose from $368M to $579M while capital spending stayed near $700M, leaving the business dependent on continued financing for part of its investment program. Free cash flow improved from -$335M to -$128M, but remained negative, showing better cash conversion without yet covering reinvestment.

Net income increased from $223M in FY2024 to $264M in FY2025, while operating cash flow grew faster; earnings quality improved because the latest profit increase was accompanied by stronger cash generation. The company also paid $161M in dividends despite negative free cash flow, so distributions were not fully covered by that year's internally generated cash.

Balance-sheet leverage declined to 0.7x debt-to-equity by FY2025, but the current ratio remained below 1.0x, showing long-term financing improved while near-term liabilities still exceeded current assets. This combination points to an infrastructure-heavy business that is less debt-intensive than before but still carries tight working-capital coverage.

Financial Health Signals

Financial health score not available

ONE GAS, INC. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/7

ONE GAS, INC. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

2.19x

For every $1 of reported earnings, ONE GAS, INC. generates $2.19 in operating cash flow ($578.8M OCF vs $264.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.20x

ONE GAS, INC. earns $3.20 in operating income for every $1 of interest expense ($457.5M vs $142.8M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

Export CSV

Earnings & Revenue

Net Income

$46.8M

YoY+46.1%

QoQ-63.6%

ONE GAS, INC. reported $46.8M in net income in Q2 2026. This represents an increase of 46.1% from the same quarter a year earlier. Against the prior quarter it is down 63.6%.

EPS (Diluted)

$0.74

YoY+39.6%

QoQ-63.7%

5Y CAGR+5.7%

10Y CAGR+6.9%

ONE GAS, INC. earned $0.74 per diluted share (EPS) in Q2 2026. This represents an increase of 39.6% from the same quarter a year earlier. Against the prior quarter it is down 63.7%.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$37.5M

YoY+511.4%

QoQ+89.7%

10Y CAGR+7.7%

ONE GAS, INC. generated $37.5M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 511.4% from the same quarter a year earlier. Against the prior quarter it is up 89.7%.

Cash & Debt

$7.9M

YoY-61.8%

QoQ-30.8%

5Y CAGR-48.1%

10Y CAGR-17.6%

ONE GAS, INC. held $7.9M in cash against $2.3B in long-term debt as of Q2 2026.

Dividends Per Share

$0.68

YoY+1.5%

QoQ0.0%

5Y CAGR+3.2%

10Y CAGR+6.9%

ONE GAS, INC. paid $0.68 per share in dividends in Q2 2026. This represents an increase of 1.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

63M

YoY+4.8%

QoQ+0.1%

5Y CAGR+3.3%

10Y CAGR+1.9%

ONE GAS, INC. had 63M shares outstanding in Q2 2026. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Margins & Returns

Return on Equity

1.3%

YoY+0.3pp

QoQ-2.3pp

ONE GAS, INC.'s ROE was 1.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$173.5M

YoY-3.9%

QoQ+10.8%

5Y CAGR+8.0%

10Y CAGR+9.6%

ONE GAS, INC. invested $173.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 10.8%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

OGS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OGS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	N/A	N/A	N/A	N/A	$2.6B+42.5%	$1.8B+18.2%	$1.5B-7.4%	$1.7B+1.2%	$1.6B+6.1%	$1.5B+7.9%	$1.4B	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	$998.9M+28.3%	$778.3M-31.4%	$1.1B-22.2%	$1.5B+88.3%	$775.0M+44.2%	$537.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	$1.1B+8.3%	$1.0B+4.1%	$992.8M	N/A	N/A	$925.1M+4.5%	$885.4M+5.2%	$841.7M+1.8%	$827.0M+1.7%	$813.0M+7.5%	$756.4M
Operating Income	N/A	$457.5M+14.7%	$398.9M+5.6%	$377.6M+7.9%	$350.0M+12.8%	$310.3M+2.2%	$303.5M+2.8%	$295.3M+2.4%	$288.4M-8.9%	$316.7M+9.6%	$288.9M+20.8%	$239.1M+6.1%	$225.3M+2.2%	$220.3M+2.1%	$215.7M
Interest Expense	N/A	$142.8M-3.0%	$147.2M+27.7%	$115.3M+48.8%	$77.5M+28.5%	$60.3M-3.5%	$62.5M-0.3%	$62.7M+22.2%	$51.3M+11.4%	$46.1M+5.3%	$43.7M-1.9%	$44.6M-2.8%	$45.8M-25.3%	$61.4M+0.9%	$60.8M
Income Tax	N/A	$57.2M+57.3%	$36.4M-10.1%	$40.5M-13.0%	$46.5M+15.4%	$40.3M-3.0%	$41.6M-3.0%	$42.9M-19.9%	$53.5M-42.5%	$93.1M+9.3%	$85.2M+16.8%	$73.0M+6.8%	$68.3M+9.7%	$62.3M+4.0%	$59.9M
Net Income	N/A	$264.2M+18.6%	$222.8M-3.6%	$231.2M+4.3%	$221.7M+7.4%	$206.4M+5.1%	$196.4M+5.2%	$186.7M+8.4%	$172.2M+5.7%	$163.0M+16.3%	$140.1M+17.7%	$119.0M+8.4%	$109.8M+10.7%	$99.2M+2.8%	$96.5M
EPS (Basic)	N/A	$4.39+12.0%	$3.92-5.8%	$4.16+1.7%	$4.09+6.2%	$3.85+4.1%	$3.70+4.8%	$3.53+8.0%	$3.27+5.5%	$3.10+16.1%	$2.67+18.1%	$2.26+7.6%	$2.10+10.5%	$1.90+3.3%	$1.84
EPS (Diluted)	$4.65	$4.37+11.8%	$3.91-5.6%	$4.14+1.5%	$4.08+6.0%	$3.85+4.6%	$3.68+4.8%	$3.51+8.0%	$3.25+5.5%	$3.08+16.2%	$2.65+18.3%	$2.24+8.2%	$2.07+8.9%	$1.90+3.3%	$1.84
Diluted Shares (Avg)	N/A	61M+6.1%	57M+2.1%	56M+2.8%	54M+1.2%	54M+0.6%	53M+0.2%	53M+0.4%	53M+0.1%	53M0.0%	53M-0.5%	53M+0.6%	53M+1.2%	52M0.0%	52M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Cost of Revenue	$90.3M-23.4%	$393.6M-23.2%	N/A	$76.6M+28.5%	$117.9M+63.9%	$512.5M+33.8%	N/A	$59.6M-15.9%
Operating Income	$82.7M+15.1%	$189.6M+5.0%	N/A	$65.4M+10.0%	$71.9M+3.7%	$180.5M+23.7%	N/A	$59.4M+3.9%
Interest Expense	$31.1M-11.8%	$32.4M-9.4%	N/A	$35.4M-9.6%	$35.3M-4.6%	$35.7M+13.8%	N/A	$39.1M+40.0%
Income Tax	$10.0M+40.3%	$26.5M+2.2%	N/A	$5.9M+47.1%	$7.1M+17.7%	$25.9M+38.6%	N/A	$4.0M-2.3%
Net Income	$46.8M+46.1%	$128.7M+7.7%	N/A	$26.5M+37.4%	$32.0M+17.6%	$119.4M+20.2%	N/A	$19.3M-23.5%
EPS (Basic)	$0.74+39.6%	$2.05+3.0%	$1.43+5.9%	$0.44+29.4%	$0.53+10.4%	$1.99+13.7%	$1.35+6.3%	$0.34-24.4%
EPS (Diluted)	$0.74+39.6%	$2.04+3.0%	$1.43+5.9%	$0.44+29.4%	$0.53+10.4%	$1.98+13.1%	$1.35+6.3%	$0.34-24.4%
Diluted Shares (Avg)	63M+4.5%	63M+4.9%	N/A	61M+6.1%	60M+6.4%	60M+6.1%	N/A	57M+2.0%

Not reported in any period shown, so not listed: Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA.

OGS Balance Sheet

OGS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$8.9B+5.1%	$8.4B+8.4%	$7.8B-0.1%	$7.8B-7.4%	$8.4B+39.4%	$6.0B+5.6%	$5.7B+4.4%	$5.5B+5.0%	$5.2B+5.3%	$4.9B+6.6%	$4.6B-0.3%	$4.6B+20.9%	$3.8B	N/A
Current Assets	$915.9M-1.5%	$929.9M+21.5%	$765.2M-37.2%	$1.2B-45.3%	$2.2B+312.1%	$539.9M+6.7%	$506.2M-6.8%	$543.3M-7.8%	$589.0M+3.5%	$568.9M+17.8%	$482.8M-27.7%	$667.5M+10.8%	$602.2M	N/A
Cash & Equivalents	$10.6M-81.7%	$58.0M+207.9%	$18.8M+94.6%	$9.7M+9.4%	$8.9M+10.7%	$8.0M-55.2%	$17.9M-16.3%	$21.3M+47.9%	$14.4M-1.7%	$14.7M+502.7%	$2.4M-79.6%	$11.9M+276.6%	$3.2M-21.5%	$4.0M
Short-Term Investments	$0-100.0%	$45.4M	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M	N/A
Total Liabilities	$5.4B+1.7%	$5.3B+6.3%	$5.0B-3.6%	$5.2B-14.2%	$6.1B+59.5%	$3.8B+6.0%	$3.6B+4.5%	$3.4B+5.5%	$3.2B+6.3%	$3.1B+9.4%	$2.8B-2.2%	$2.9B+9.5%	$2.6B	N/A
Current Liabilities	$1.5B+5.0%	$1.5B-1.3%	$1.5B+24.2%	$1.2B+21.3%	$980.5M+23.0%	$797.1M-8.7%	$872.7M+24.9%	$698.9M+3.8%	$673.3M+51.7%	$443.9M+45.9%	$304.2M-22.5%	$392.4M-49.0%	$769.1M	N/A
Non-Current Liabilities	$3.9B+0.5%	$3.9B+9.5%	$3.5B-11.9%	$4.0B-21.1%	$5.1B+69.2%	$3.0B+10.8%	$2.7B-0.8%	$2.7B+6.0%	$2.6B-1.4%	$2.6B+4.9%	$2.5B+1.1%	$2.5B+34.0%	$1.8B	N/A
Long-Term Debt	$2.4B-1.2%	$2.4B+10.4%	$2.2B-18.8%	$2.7B-27.7%	$3.7B+132.8%	$1.6B+23.0%	$1.3B0.0%	$1.3B+7.7%	$1.2B+0.1%	$1.2B+0.1%	$1.2B-0.8%	$1.2B+91046.5%	$1.3M	N/A
Total Equity	$3.4B+10.8%	$3.1B+12.2%	$2.8B+7.0%	$2.6B+10.0%	$2.3B+5.2%	$2.2B+4.9%	$2.1B+4.2%	$2.0B+4.2%	$2.0B+3.8%	$1.9B+2.5%	$1.8B+2.6%	$1.8B+44.8%	$1.2B+7.3%	$1.2B
Retained Earnings	$909.4M+12.3%	$809.6M+9.7%	$737.7M+13.2%	$651.9M+15.3%	$565.2M+16.9%	$483.6M+20.2%	$402.5M+25.4%	$320.9M+30.4%	$246.1M+52.9%	$161.0M+69.4%	$95.0M+138.2%	$39.9M	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$8.8B+5.4%	$8.8B+6.0%	$8.9B+5.1%	$8.5B+5.8%	$8.4B+6.8%	$8.3B+7.3%	$8.4B+8.4%	$8.0B+8.2%
Current Assets	$661.8M-2.9%	$796.6M+5.3%	$915.9M-1.5%	$679.2M-1.6%	$681.3M+13.5%	$756.2M+13.9%	$929.9M+21.5%	$690.5M+22.4%
Cash & Equivalents	$7.9M-61.8%	$11.4M-41.2%	$10.6M-81.7%	$9.0M-51.9%	$20.5M+91.2%	$19.3M+67.7%	$58.0M+207.9%	$18.8M+104.5%
Short-Term Investments	$0	$0	$0-100.0%	$0	$0	$0	$45.4M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%	$158.0M0.0%
Total Liabilities	$5.3B+1.9%	$5.3B+3.1%	$5.4B+1.7%	$5.3B+1.8%	$5.2B+3.5%	$5.1B+4.2%	$5.3B+6.3%	$5.2B+9.2%
Current Liabilities	$1.4B+5.7%	$1.4B+9.8%	$1.5B+5.0%	$1.5B+4.8%	$1.3B-10.6%	$1.3B-9.0%	$1.5B-1.3%	$1.4B-11.7%
Non-Current Liabilities	$3.9B+0.6%	$3.9B+0.8%	$3.9B+0.5%	$3.9B+0.7%	$3.9B+9.4%	$3.9B+9.5%	$3.9B+9.5%	$3.8B+19.5%
Long-Term Debt	$2.3B-1.3%	$2.3B-1.3%	$2.4B-1.2%	$2.4B-1.2%	$2.4B+10.4%	$2.4B+10.4%	$2.4B+10.4%	$2.4B+28.0%
Total Equity	$3.5B+11.1%	$3.5B+10.7%	$3.4B+10.8%	$3.2B+13.1%	$3.2B+12.6%	$3.2B+12.5%	$3.1B+12.2%	$2.8B+6.3%
Retained Earnings	$998.5M+13.5%	$994.8M+12.0%	$909.4M+12.3%	$863.8M+12.1%	$879.9M+11.5%	$888.4M+11.1%	$809.6M+9.7%	$770.4M+9.5%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

OGS Cash Flow Statement

OGS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$517.4M	$578.8M+57.1%	$368.4M-60.8%	$939.5M-40.2%	$1.6B+202.3%	-$1.5B-521.3%	$364.5M+17.4%	$310.3M-33.6%	$467.7M+84.3%	$253.8M-12.7%	$290.6M-28.8%	$407.9M+65.4%	$246.7M+60.0%	$154.2M-21.6%	$196.6M
Stock-Based Compensation	N/A	$14.8M+7.7%	$13.7M+12.7%	$12.2M+13.4%	$10.7M+2.3%	$10.5M+7.1%	$9.8M+5.3%	$9.3M+13.7%	$8.2M-7.7%	$8.9M-20.9%	$11.2M+22.1%	$9.2M+20.7%	$7.6M	$0	$0
Capital Expenditures	$690.2M	$707.2M+0.6%	$703.2M+5.5%	$666.6M+9.4%	$609.5M+23.1%	$495.2M+5.1%	$471.3M+12.9%	$417.3M+5.8%	$394.4M+10.7%	$356.4M+15.3%	$309.1M+5.0%	$294.3M-0.9%	$297.1M+1.7%	$292.1M+7.4%	$272.0M
Free Cash Flow	-$172.8M	-$128.4M+61.6%	-$334.8M-222.7%	$272.9M-71.6%	$961.4M+147.3%	-$2.0B-1800.8%	-$106.8M+0.1%	-$107.0M-246.1%	$73.2M+171.4%	-$102.6M-454.9%	-$18.5M-116.3%	$113.6M+325.2%	-$50.4M+63.4%	-$137.9M-82.8%	-$75.4M
Investing Cash Flow	-$696.6M	-$715.3M-1.1%	-$707.5M-5.7%	-$669.6M-9.0%	-$614.1M-22.6%	-$501.1M-6.5%	-$470.4M-11.2%	-$422.9M-7.2%	-$394.4M-10.9%	-$355.7M-15.3%	-$308.6M-4.8%	-$294.3M+0.9%	-$297.1M-2.2%	-$290.8M-7.5%	-$270.6M
Financing Cash Flow	$167.1M	$91.7M-75.8%	$378.2M+252.1%	-$248.6M+73.8%	-$947.5M-146.5%	$2.0B+2022.2%	$96.0M-12.0%	$109.1M+264.5%	-$66.3M-165.2%	$101.7M+236.5%	$30.2M+124.5%	-$123.1M-307.9%	$59.2M-56.4%	$135.7M+84.5%	$73.5M
Dividends Paid	$165.8M	$160.7M+7.5%	$149.5M+3.7%	$144.1M+7.6%	$134.0M+8.1%	$123.9M+8.3%	$114.4M+8.5%	$105.4M+9.1%	$96.6M+9.8%	$88.0M+20.1%	$73.2M+16.5%	$62.8M+43.8%	$43.7M	$0	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$17.5M-27.2%	$24.1M-0.2%	$24.1M	$0	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$211.0M+23.2%	$176.3M-36.5%	$43.0M-31.3%	$87.0M+58.6%	$171.3M+20.1%	$277.5M+156.3%	$62.6M-35.4%	$54.9M-41.5%
Stock-Based Compensation	N/A	$3.8M+5.0%	N/A	N/A	N/A	$3.7M+17.3%	N/A	N/A
Capital Expenditures	$173.5M-3.9%	$156.5M-6.0%	$167.8M-6.6%	$192.4M+6.2%	$180.5M+2.8%	$166.6M-0.1%	$179.6M+1.9%	$181.2M+7.8%
Free Cash Flow	$37.5M+511.4%	$19.8M-82.2%	-$124.8M-6.7%	-$105.4M+16.6%	-$9.1M+72.3%	$110.9M+289.5%	-$116.9M-47.5%	-$126.4M-70.0%
Investing Cash Flow	-$175.6M+2.8%	-$154.1M+8.2%	-$171.5M+7.4%	-$195.3M-8.3%	-$180.7M-2.8%	-$167.8M-1.1%	-$185.3M-2.8%	-$180.5M-7.4%
Financing Cash Flow	-$27.8M-216.6%	-$32.9M+79.4%	$141.4M-18.0%	$86.4M-29.1%	$23.8M-46.0%	-$160.0M-501.9%	$172.4M+64.9%	$121.9M+130.4%
Dividends Paid	$42.7M+6.3%	$42.7M+6.3%	$40.2M+7.5%	$40.2M+7.5%	$40.2M+7.5%	$40.2M+7.5%	$37.4M+3.7%	$37.4M+3.7%

Not reported in any period shown, so not listed: Depreciation & Amortization, Share Buybacks.

OGS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OGS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	N/A	N/A	N/A	43.4%-13.8pp	57.1%-7.7pp	64.9%	N/A	N/A	60.1%-1.9pp	62.0%	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	13.6%-3.6pp	17.2%-2.7pp	19.8%+2.0pp	17.9%+0.2pp	17.6%-2.9pp	20.6%+0.3pp	20.3%	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	8.6%-2.8pp	11.4%-1.4pp	12.8%+1.5pp	11.3%+0.8pp	10.5%-0.1pp	10.6%+0.8pp	9.8%	N/A	N/A	N/A	N/A
Return on Equity	7.7%+0.5pp	7.2%-1.2pp	8.4%-0.2pp	8.6%-0.2pp	8.8%0.0pp	8.8%0.0pp	8.8%+0.3pp	8.4%+0.1pp	8.3%+0.9pp	7.4%+1.0pp	6.5%+0.3pp	6.1%-1.9pp	8.0%-0.3pp	8.4%
Return on Assets	3.0%+0.3pp	2.6%-0.3pp	3.0%+0.1pp	2.9%+0.4pp	2.5%-0.8pp	3.3%0.0pp	3.3%+0.1pp	3.1%0.0pp	3.1%+0.3pp	2.8%+0.3pp	2.6%+0.2pp	2.4%-0.2pp	2.6%	N/A
Current Ratio	0.600.0x	0.64+0.1x	0.52-0.5x	1.02-1.2x	2.27+1.6x	0.68+0.1x	0.58-0.2x	0.78-0.1x	0.87-0.4x	1.28-0.3x	1.59-0.1x	1.70+0.9x	0.78	N/A
Debt-to-Equity	0.68-0.1x	0.770.0x	0.78-0.2x	1.03-0.5x	1.57+0.9x	0.71+0.1x	0.600.0x	0.630.0x	0.610.0x	0.630.0x	0.650.0x	0.67+0.7x	0.00	N/A
Asset Turnover	N/A	N/A	N/A	0.33+0.1x	0.220.0x	0.250.0x	0.290.0x	0.300.0x	0.300.0x	0.29	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	37.3%	-112.3%	-7.0%-0.5pp	-6.5%-10.9pp	4.5%+11.1pp	-6.7%-5.4pp	-1.3%	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	1.3%+0.3pp	3.6%-0.1pp	N/A	0.8%+0.1pp	1.0%+0.1pp	3.8%+0.2pp	N/A	0.7%-0.3pp
Return on Assets	0.5%+0.1pp	1.5%0.0pp	N/A	0.3%+0.1pp	0.4%0.0pp	1.4%+0.1pp	N/A	0.2%-0.1pp
Current Ratio	0.480.0x	0.570.0x	0.600.0x	0.470.0x	0.52+0.1x	0.59+0.1x	0.64+0.1x	0.50+0.1x
Debt-to-Equity	0.66-0.1x	0.66-0.1x	0.68-0.1x	0.74-0.1x	0.740.0x	0.740.0x	0.770.0x	0.85+0.1x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Note: The current ratio is below 1.0 (0.60), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ONE GAS, INC. OGS	FY2025	N/A	$264.2M	N/A	$4.7B	—
Spire Inc. SR	FY2025	$2.5B	$271.7M	11.0%	$4.7B	43/100
Black Hills Corporation BKH	FY2025	$2.3B	$291.6M	12.6%	$5.9B	58/100
New Jersey Resources Corp NJR	FY2025	$1.4B	$335.6M	24.8%	$5.3B	59/100
Southwest Gas Holdings, Inc. SWX	FY2025	N/A	$439.8M	N/A	$6.2B	—
MDU Resources Group, Inc. MDU	FY2025	$1.9B	$190.4M	10.2%	$3.9B	39/100

Where ONE GAS, INC. Ranks

Frequently Asked Questions

Is ONE GAS, INC. profitable?

Yes, ONE GAS, INC. (OGS) reported a net income of $264.2M in fiscal year 2025.

How much debt does ONE GAS, INC. have?

As of fiscal year 2025, ONE GAS, INC. (OGS) had $10.6M in cash and equivalents against $2.4B in long-term debt.

Does ONE GAS, INC. pay dividends?

Yes, ONE GAS, INC. (OGS) paid $2.68 per share in dividends during fiscal year 2025.

What is ONE GAS, INC.'s return on equity (ROE)?

ONE GAS, INC. (OGS) has a return on equity of 7.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ONE GAS, INC.'s free cash flow?

ONE GAS, INC. (OGS) recorded an outflow of $128.4M in free cash flow during fiscal year 2025. This represents a 61.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ONE GAS, INC.'s operating cash flow?

ONE GAS, INC. (OGS) generated $578.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ONE GAS, INC.'s total assets?

ONE GAS, INC. (OGS) had $8.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are ONE GAS, INC.'s capital expenditures?

ONE GAS, INC. (OGS) invested $707.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does ONE GAS, INC. have outstanding?

ONE GAS, INC. (OGS) had 63M shares outstanding as of fiscal year 2025.

What is ONE GAS, INC.'s current ratio?

ONE GAS, INC. (OGS) had a current ratio of 0.60 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is ONE GAS, INC.'s debt-to-equity ratio?

ONE GAS, INC. (OGS) had a debt-to-equity ratio of 0.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ONE GAS, INC.'s return on assets (ROA)?

ONE GAS, INC. (OGS) had a return on assets of 3.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ONE GAS, INC.'s P/E ratio?

ONE GAS, INC. (OGS) trades at 17.6x earnings, its market capitalization divided by net income of $264.2M net income, FY2025. The market capitalization is $4.7B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ONE GAS, INC.'s price-to-sales ratio?

ONE GAS, INC. (OGS) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $4.7B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ONE GAS, INC.'s Piotroski F-Score?

ONE GAS, INC. (OGS) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ONE GAS, INC.'s earnings high quality?

ONE GAS, INC. (OGS) has an earnings quality ratio of 2.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can ONE GAS, INC. cover its interest payments?

ONE GAS, INC. (OGS) has an interest coverage ratio of 3.20x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.