InsiderClue
Stocks · Energy · Natural Gas Distribution

ONE Gas, Inc.

OGS Clue Score49
United States Fiscal year ends December CIK 0001587732
$72.50 +0.19% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $72.50 +6.18% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,427.2Operating income288.9Net income140.1EPS, diluted2.65Fiscal year 2017Revenue1,539.6 +7.9%Operating income316.7Net income163.0 +16.3%EPS, diluted3.08 +16.2%Fiscal year 2018Revenue1,633.7 +6.1%Operating income288.4Net income172.2 +5.7%EPS, diluted3.25 +5.5%Fiscal year 2019Revenue1,652.7 +1.2%Operating income295.3Net income186.7 +8.4%EPS, diluted3.51 +8.0%Fiscal year 2020Revenue1,530.3 −7.4%Operating income303.5Net income196.4 +5.2%EPS, diluted3.68 +4.8%Fiscal year 2021Revenue1,808.6 +18.2%Operating income310.3Net income206.4 +5.1%EPS, diluted3.85 +4.6%Fiscal year 2022Revenue2,578.0 +42.5%Operating income350.0Net income221.7 +7.4%EPS, diluted4.08 +6.0%Fiscal year 2023Operating income377.6Net income231.2 +4.3%EPS, diluted4.14 +1.5%Fiscal year 2024Operating income398.9Net income222.9 −3.6%EPS, diluted3.91 −5.6%Fiscal year 2025Operating income457.5Net income264.2 +18.6%EPS, diluted4.37 +11.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,427.2 1,539.6 1,633.7 1,652.7 1,530.3 1,808.6 2,578.0 n/a n/a n/a
Growth +7.9% +6.1% +1.2% −7.4% +18.2% +42.5%
Operating income 288.9 316.7 288.4 295.3 303.5 310.3 350.0 377.6 398.9 457.5
Net income 140.1 163.0 172.2 186.7 196.4 206.4 221.7 231.2 222.9 264.2
Growth +16.3% +5.7% +8.4% +5.2% +5.1% +7.4% +4.3% −3.6% +18.6%
EPS, diluted 2.65 3.08 3.25 3.51 3.68 3.85 4.08 4.14 3.91 4.37
Growth +16.2% +5.5% +8.0% +4.8% +4.6% +6.0% +1.5% −5.6% +11.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin62.0%Operating margin20.2%Net margin9.8%Free cash flow margin−1.3%Fiscal year 2017Gross margin60.1%Operating margin20.6%Net margin10.6%Free cash flow margin−6.7%Fiscal year 2018Operating margin17.7%Net margin10.5%Free cash flow margin4.5%Fiscal year 2019Operating margin17.9%Net margin11.3%Free cash flow margin−6.5%Fiscal year 2020Operating margin19.8%Net margin12.8%Free cash flow margin−7.0%Fiscal year 2021Operating margin17.2%Net margin11.4%Free cash flow margin−112.3%Fiscal year 2022Operating margin13.6%Net margin8.6%Free cash flow margin37.3%Fiscal year 2023Fiscal year 2024Fiscal year 2025
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 62.0% 60.1% n/a n/a n/a n/a n/a n/a n/a n/a
Operating margin 20.2% 20.6% 17.7% 17.9% 19.8% 17.2% 13.6% n/a n/a n/a
Net margin 9.8% 10.6% 10.5% 11.3% 12.8% 11.4% 8.6% n/a n/a n/a
Free cash flow margin −1.3% −6.7% 4.5% −6.5% −7.0% −112.3% 37.3% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow290.6Capital expenditure−309.1Free cash flow−18.5Buybacks−24.1Dividends paid−73.2Fiscal year 2017Operating cash flow253.8Capital expenditure−356.4Free cash flow−102.6Buybacks−17.5Dividends paid−88.0Fiscal year 2018Operating cash flow467.7Capital expenditure−394.5Free cash flow73.2Buybacks0.0Dividends paid−96.6Fiscal year 2019Operating cash flow310.3Capital expenditure−417.3Free cash flow−107.0 −246.1%Buybacks0.0Dividends paid−105.4Fiscal year 2020Operating cash flow364.5Capital expenditure−471.3Free cash flow−106.8Dividends paid−114.4Fiscal year 2021Operating cash flow−1,535.7Capital expenditure−495.2Free cash flow−2,030.9Dividends paid−123.9Fiscal year 2022Operating cash flow1,570.8Capital expenditure−609.5Free cash flow961.4Dividends paid−134.0Fiscal year 2023Operating cash flow939.5Capital expenditure−666.6Free cash flow272.9 −71.6%Dividends paid−144.1Fiscal year 2024Operating cash flow368.4Capital expenditure−703.2Free cash flow−334.8 −222.7%Dividends paid−149.5Fiscal year 2025Operating cash flow578.8Capital expenditure−707.2Free cash flow−128.4Dividends paid−160.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 290.6 253.8 467.7 310.3 364.5 −1,535.7 1,570.8 939.5 368.4 578.8
Capital expenditure −309.1 −356.4 −394.5 −417.3 −471.3 −495.2 −609.5 −666.6 −703.2 −707.2
Free cash flow −18.5 −102.6 73.2 −107.0 −106.8 −2,030.9 961.4 272.9 −334.8 −128.4
Growth −246.1% −71.6% −222.7%
Buybacks −24.1 −17.5 0.0 0.0 n/a n/a n/a n/a n/a n/a
Dividends paid −73.2 −88.0 −96.6 −105.4 −114.4 −123.9 −134.0 −144.1 −149.5 −160.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash14.7Total debt1,192.5Net cash (debt)−1,177.8Shareholders’ equity1,888.3Debt to equity0.63Fiscal year 2017Cash14.4Total debt1,193.3Net cash (debt)−1,178.9Shareholders’ equity1,960.2Debt to equity0.61Fiscal year 2018Cash21.3Total debt1,285.5Net cash (debt)−1,264.2Shareholders’ equity2,042.7Debt to equity0.63Fiscal year 2019Cash17.9Total debt1,286.1Net cash (debt)−1,268.2Shareholders’ equity2,129.4Debt to equity0.60Fiscal year 2020Cash8.0Total debt1,582.4Net cash (debt)−1,574.4Shareholders’ equity2,233.3Debt to equity0.71Fiscal year 2021Cash8.9Total debt3,683.4Net cash (debt)−3,674.5Shareholders’ equity2,349.5Debt to equity1.57Fiscal year 2022Cash9.7Total debt2,661.8Net cash (debt)−2,652.1Shareholders’ equity2,584.4Debt to equity1.03Fiscal year 2023Cash18.8Total debt2,933.4Net cash (debt)−2,914.6Shareholders’ equity2,765.9Debt to equity1.06Fiscal year 2024Cash58.0Total debt2,385.3Net cash (debt)−2,327.3Shareholders’ equity3,104.5Debt to equity0.77Fiscal year 2025Cash10.6Total debt2,605.7Net cash (debt)−2,595.1Shareholders’ equity3,440.1Debt to equity0.76
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 14.7 14.4 21.3 17.9 8.0 8.9 9.7 18.8 58.0 10.6
Total debt 1,192.5 1,193.3 1,285.5 1,286.1 1,582.4 3,683.4 2,661.8 2,933.4 2,385.3 2,605.7
Net cash (debt) −1,177.8 −1,178.9 −1,264.2 −1,268.2 −1,574.4 −3,674.5 −2,652.1 −2,914.6 −2,327.3 −2,595.1
Shareholders’ equity 1,888.3 1,960.2 2,042.7 2,129.4 2,233.3 2,349.5 2,584.4 2,765.9 3,104.5 3,440.1
Debt to equity 0.63 0.61 0.63 0.60 0.71 1.57 1.03 1.06 0.77 0.76

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
62.0% 60.1% n/a n/a n/a n/a n/a n/a n/a n/a
20.2% 20.6% 17.7% 17.9% 19.8% 17.2% 13.6% n/a n/a n/a
15.8% 16.6% 13.8% 13.9% 15.6% 13.6% 10.4% n/a n/a n/a
9.8% 10.6% 10.5% 11.3% 12.8% 11.4% 8.6% n/a n/a n/a
−1.3% −6.7% 4.5% −6.5% −7.0% −112.3% 37.3% n/a n/a n/a
Spending
21.7% 23.1% 24.1% 25.3% 30.8% 27.4% 23.6% n/a n/a n/a
37.8% 36.4% 23.7% 18.7% 17.5% 16.3% 17.3% 14.9% 14.0% 17.8%
Returns
7.4% 8.3% 8.4% 8.8% 8.8% 8.8% 8.6% 8.4% 7.2% 7.7%
2.8% 3.1% 3.1% 3.3% 3.3% 2.5% 2.9% 3.0% 2.6% 3.0%
Balance and payout
0.63 0.61 0.63 0.60 0.71 1.57 1.03 1.06 0.77 0.76
52.3% 54.0% 56.1% 56.5% 58.2% 60.0% 60.4% 62.3% 67.1% 60.8%
n/a n/a 131.9% n/a n/a n/a 13.9% 52.8% n/a n/a