One Gas IncOne Gas Inc
One Gas Inc

One Gas Inc

OGS
Utilities·Gas Utilities

ONE Gas, Inc. engages in the business of natural gas distribution services that delivers natural gas to residential, commercial, industrial, and transportation customers. The company was founded in 1906 and is headquartered in Tulsa, OK.

Oklahoma; U.S.A
Market cap
$4.5BNo data
Revenue
$10KNo data
Net income
$264.2MNo data
Free cash flow
$-128.4MNo data

Market

Listed stock
OGSPriceNYSE
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Financial performance

Revenue
$10KNo data
Operating income
$457.5MNo data
Net income
$264.2MNo data
Free cash flow
$-128.4MNo data

Revenue, profit & cash trend

Revenue
Reference
Revenue: 2021 $1.8B, 2022 $2.6B, 2024 $-3K, 2025 $10K. Reference line: Reference at $0.

Growth & profitability

Revenue growth
No dataNo data
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $310.3M, 2022-12-31 $350M, 2023-12-31 $377.6M, 2024-12-31 $399M, 2025-12-31 $457.5M. Net income: 2021-12-31 $206.4M, 2022-12-31 $221.7M, 2023-12-31 $231.2M, 2024-12-31 $222.9M, 2025-12-31 $264.2M. Free cash flow: 2021-12-31 $-2B, 2022-12-31 $961.4M, 2023-12-31 $272.9M, 2024-12-31 $-334.8M, 2025-12-31 $-128.4M

Growth heatmap

202220242025CAGR
Revenue
+42.5%
-100.0%
+433.3%
-95.2%
Gross profit
-38.1%
-201.4%
+31.4%
-28.3%
No data
Operating income
+12.8%
+7.9%
+5.7%
+14.6%
+10.2%
Free cash flow
+147.3%
-71.6%
-222.7%
+61.6%
No data

Earnings quality

Operating cash flow
$578.8MNo data
Net income
$264.2MNo data
Free cash flow
$-128.4MNo data
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 219%, 2024-12-31 165%, 2023-12-31 406%, 2022-12-31 708%, 2021-12-31 -744%. Free cash flow: 2025-12-31 -49%, 2024-12-31 -150%, 2023-12-31 118%, 2022-12-31 434%, 2021-12-31 -984%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data