ONE Gas, Inc. OGS
ONE Gas, Inc. is incorporated under the laws of the state of Oklahoma. Our common stock is listed on the NYSE and the NYSE Texas under the trading symbol "OGS," and is included in the S&P MidCap 400 Index. We are a 100-percent regulated natural gas distribution utility, headquartered in Tulsa, Oklahoma, and one of the largest publicly traded natural gas utilities in the United States. We are the successor to the company founded in 1906 as Oklahoma Natural Gas Company, which became ONEOK, Inc. (NYSE: OKE) in 1980. On January 31, 2014, ONE Gas officially separated from ONEOK, Inc.
We provide natural gas distribution services to approximately 2.3 million customers. We are the largest natural gas distributor in Oklahoma and Kansas and the third largest in Texas, in terms of customers. We primarily serve residential, commercial, and transportation customers in all three states. Our largest natural gas distribution markets, in terms of customers, are Oklahoma City and Tulsa, Oklahoma; Kansas City, Wichita, and Topeka, Kansas; and Austin and El Paso, Texas. Our three divisions, Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service, distribute natural gas to approximately 89 percent, 72 percent, and 13 percent of the natural gas distribution customers in Oklahoma, Kansas, and Texas, respectively.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $2.58B | $1.81B | $1.53B | $1.65B | $1.63B | $1.54B | $1.43B |
| Cost of revenue | $998.9M | $778.3M | $1.13B | $1.46B | $775.0M | $537.4M | — | — | — | — |
| Gross profit | — | — | — | $1.12B | $1.03B | $992.8M | — | — | $925.1M | $885.4M |
| Operating income | $457.5M | $398.9M | $377.6M | $350.0M | $310.3M | $303.5M | $295.3M | $288.4M | $316.7M | $288.9M |
| Interest expense | $142.8M | $147.2M | $115.3M | $77.5M | $60.3M | $62.5M | $62.7M | $51.3M | $46.1M | $43.7M |
| Pre-tax income | $321.5M | $259.2M | $271.7M | $268.3M | $246.8M | $238.0M | $229.6M | $225.8M | $256.1M | $225.3M |
| Income tax | $57.2M | $36.4M | $40.5M | $46.5M | $40.3M | $41.6M | $42.9M | $53.5M | $93.1M | $85.2M |
| Net income | $264.2M | $222.8M | $231.2M | $221.7M | $206.4M | $196.4M | $186.7M | $172.2M | $163.0M | $140.1M |
| EPS, basic | 4.39 | 3.92 | 4.16 | 4.09 | 3.85 | 3.70 | 3.53 | 3.27 | 3.10 | 2.67 |
| EPS, diluted | 4.37 | 3.91 | 4.14 | 4.08 | 3.85 | 3.68 | 3.51 | 3.25 | 3.08 | 2.65 |
| Shares, diluted (wtd. avg.) | 60.5M | 57.0M | 55.9M | 54.3M | 53.7M | 53.4M | 53.2M | 53.0M | 53.0M | 53.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.6M | $58.0M | $39.4M | $18.1M | $8.9M | $8.0M | $17.9M | $21.3M | $14.4M | $14.7M |
| Short-term investments | $0 | $45.4M | — | — | — | — | — | — | — | — |
| Receivables | $461.6M | $408.4M | $347.9M | $553.8M | $341.8M | $293.0M | $250.0M | $295.4M | $298.8M | $290.9M |
| Total current assets | $915.9M | $929.9M | $765.2M | $1.22B | $2.22B | $539.9M | $506.2M | $543.3M | $589.0M | $568.9M |
| Property, plant and equipment | $7.12B | $6.65B | — | — | — | — | — | — | — | — |
| Goodwill | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M | $158.0M |
| Other intangibles | — | — | — | $323.8M | $0 | — | — | — | — | — |
| Total assets | $8.85B | $8.43B | $7.77B | $7.78B | $8.40B | $6.03B | $5.71B | $5.47B | $5.21B | $4.94B |
| Accounts payable | $222.1M | $261.3M | $278.1M | $360.5M | $258.6M | $152.3M | $120.5M | $174.5M | $143.7M | $132.0M |
| Short-term debt | $249.7M | $14.0K | $773.0M | $12.0K | $0 | $0 | $0 | $0 | $0 | $7.0K |
| Total current liabilities | $1.53B | $1.46B | $1.48B | $1.19B | $980.5M | $797.1M | $872.7M | $698.9M | $673.3M | $443.9M |
| Long-term debt | $2.36B | $2.39B | $2.16B | $2.66B | $3.68B | $1.58B | $1.29B | $1.29B | $1.19B | $1.19B |
| Retained earnings | $909.4M | $809.6M | $737.7M | $651.9M | $565.2M | $483.6M | $402.5M | $320.9M | $246.1M | $161.0M |
| Total equity | $3.44B | $3.10B | $2.77B | $2.58B | $2.35B | $2.23B | $2.13B | $2.04B | $1.96B | $1.89B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $578.8M | $368.4M | $939.5M | $1.57B | -$1.54B | $364.5M | $310.3M | $467.7M | $253.8M | $290.6M |
| Stock-based compensation | $14.8M | $13.7M | $12.2M | $10.7M | $10.5M | $9.8M | $9.3M | $8.2M | $8.9M | $11.2M |
| Capital expenditure | $707.2M | $703.2M | $666.6M | $609.5M | $495.2M | $471.3M | $417.3M | $394.4M | $356.4M | $309.1M |
| Investing cash flow | -$715.3M | -$707.5M | -$669.6M | -$614.1M | -$501.1M | -$470.4M | -$422.9M | -$394.4M | -$355.7M | -$308.6M |
| Financing cash flow | $91.7M | $378.2M | -$248.6M | -$947.5M | $2.04B | $96.0M | $109.1M | -$66.3M | $101.7M | $30.2M |
| Dividends paid | $160.7M | $149.5M | $144.1M | $134.0M | $123.9M | $114.4M | $105.4M | $96.6M | $88.0M | $73.2M |
| Buybacks | — | — | — | — | — | — | $0 | $0 | $17.5M | $24.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001587732-26-000009.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.54B | $1.63B | $1.65B | $1.53B | $1.81B | $2.58B | — | — | — |
| Gross profit | $885.4M | $925.1M | — | — | $992.8M | $1.03B | $1.12B | — | — | — |
| Net income | $140.1M | $163.0M | $172.2M | $186.7M | $196.4M | $206.4M | $221.7M | $231.2M | $222.8M | $264.2M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 4924
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LNG | Cheniere Energy, Inc. | $61.69B | 12.4x | 26.3% |
| VG | Venture Global, Inc. | $34.85B | 16.3x | 176.9% |
| CQP | Cheniere Energy Partners, L.P. | $32.02B | — | 23.6% |
| ATO | ATMOS ENERGY CORP | $29.10B | 23.1x | 12.9% |
| NFG | NATIONAL FUEL GAS CO | $7.65B | 14.2x | 30.0% |
| NJR | NEW JERSEY RESOURCES CORP | $5.39B | 16.0x | 9.9% |
| SR | SPIRE INC | $5.04B | 19.5x | -4.5% |
| NWN | Northwest Natural Holding Co | $2.10B | 18.0x | 8.4% |