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ONE Gas
(NYSE:OGS)
ONE Gas (OGS) vs. SPDR S&P 500 ETF (SPY)
ONE Gas Business Overview & Revenue Model
ONE Gas Earnings Call Summary
ONE Gas Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.37B | 2.08B | 2.37B | 2.58B | 1.81B | 1.53B |
| Gross Profit | 986.87M | 775.11M | 729.08M | 646.65M | 583.91M | 561.71M |
| EBITDA | 761.01M | 703.17M | 666.90M | 574.25M | 514.28M | 495.38M |
| Net Income | 254.94M | 222.85M | 231.23M | 221.74M | 206.43M | 196.41M |
Balance Sheet | ||||||
| Total Assets | 8.50B | 8.43B | 7.77B | 7.78B | 8.40B | 6.03B |
| Cash, Cash Equivalents and Short-Term Investments | 11.61M | 57.99M | 18.84M | 9.68M | 8.85M | 7.99M |
| Total Debt | 3.40B | 3.33B | 3.05B | 3.23B | 4.18B | 2.00B |
| Total Liabilities | 5.32B | 5.32B | 5.01B | 5.19B | 6.05B | 3.80B |
| Stockholders Equity | 3.18B | 3.10B | 2.77B | 2.58B | 2.35B | 2.23B |
Cash Flow | ||||||
| Free Cash Flow | -116.80M | -334.75M | 272.90M | 961.36M | -2.03B | -109.65M |
| Operating Cash Flow | 598.45M | 368.41M | 939.53M | 1.57B | -1.54B | 364.50M |
| Investing Cash Flow | -729.12M | -707.50M | -669.64M | -614.11M | -501.08M | -470.37M |
| Financing Cash Flow | 122.70M | 378.23M | -248.63M | -947.46M | 2.04B | 96.01M |
ONE Gas Technical Analysis
ONE Gas Risk Analysis
ONE Gas Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $6.23B | 13.44 | 5.42% | 3.07% | -23.15% | 157.45% | |
73 Outperform | $1.95B | 18.69 | 7.20% | 4.18% | 11.27% | 20.04% | |
70 Outperform | $8.06B | 12.13 | 14.87% | 3.92% | 1.10% | 140.04% | |
69 Neutral | $4.93B | 19.11 | 8.20% | 3.82% | -4.50% | 2.49% | |
68 Neutral | $4.72B | 18.35 | 8.51% | 3.45% | 15.06% | 12.27% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | $4.85B | 14.45 | 14.62% | 4.01% | 13.94% | 13.93% |
ONE Gas Corporate Events
ONE Gas, Inc., a U.S. regulated natural gas utility, has entered into a series of forward sale agreements to issue a total of 2,633,700 shares of common stock by December 29, 2025. Under these agreements with Bank of America, N.A. and JPMorgan Chase Bank, National Association, the company expects to issue 223,000 and 180,000 shares pursuant to two amended 2023 contracts with Bank of America and 2,230,700 shares under a May 8, 2025 contract with JPMorgan, resulting in aggregate expected net proceeds of approximately $205 million that will bolster its capital resources and financial flexibility.
The most recent analyst rating on (OGS) stock is a Hold with a $85.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On December 17, 2025, ONE Gas increased the size of its unsecured commercial paper program, raising the maximum aggregate principal amount of notes outstanding at any time from $1.35 billion to $1.50 billion, while leaving all other terms and conditions of the program unchanged. The move expands the company’s short-term financing capacity, potentially enhancing its liquidity and financial flexibility, although the commercial paper notes will continue to be offered only in transactions exempt from registration under U.S. securities laws and do not constitute a public offering.
The most recent analyst rating on (OGS) stock is a Buy with a $87.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On December 18, 2025, ONE Gas, Inc. announced a joint infrastructure initiative to build a 43-mile, large-diameter natural gas pipeline in southeast Oklahoma to support economic growth and enhance energy reliability in the region. The $150–$160 million project, of which ONE Gas will invest about $120 million, will connect the Bennington Natural Gas Hub to Western Farmers Electric Cooperative’s Hugo Plant near Fort Towson, enabling delivery of more than 100 billion cubic feet of natural gas annually to fuel 400 megawatts of natural gas-fired generation by 2029 as the first phase of WFEC’s long-term resource plan; the pipeline, to be installed and operated by Oklahoma Natural Gas, is expected to be completed by the third quarter of 2028, positioning ONE Gas as a key energy infrastructure provider for the plant and surrounding communities.
The most recent analyst rating on (OGS) stock is a Hold with a $83.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On December 2, 2025, ONE Gas announced its participation in several investor conferences in New York City, scheduled for December 8-10, 2025. Key executives, including the CEO, CFO, and COO, will engage with the investment community, with conference materials available on the company’s website.
The most recent analyst rating on (OGS) stock is a Hold with a $75.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On December 1, 2025, ONE Gas announced its 2026 financial guidance, raising its long-term diluted earnings per share growth rate to 5% to 7%. The company expects 2026 net income between $294 million and $302 million, with capital investments primarily focused on system integrity and replacement projects. Over the next five years, capital investments are projected to be $800 million to $900 million annually, supporting a 7% to 9% average rate base growth per year through 2030. The announcement reflects ONE Gas’s strategy to leverage customer growth opportunities while maintaining commitments to safety and affordability, positioning the company for sustainable growth.
The most recent analyst rating on (OGS) stock is a Hold with a $75.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On November 18, 2025, ONE Gas announced the retirement of John W. Gibson as chair of the board, effective May 21, 2026, after the company’s Annual Meeting of Shareholders. Gibson, who has served since the company’s inception in 2014, will be succeeded by Deborah A. P. Hersman. Hersman, a seasoned leader with a background in safety and governance, joined the board in 2023 and her election is expected to enhance the board’s strategic focus and diversity. This leadership transition follows a comprehensive succession planning process, aligning with ONE Gas’s commitment to operational excellence and sustainable growth.
The most recent analyst rating on (OGS) stock is a Hold with a $86.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On November 3, 2025, ONE Gas announced its third-quarter financial results, highlighting a net income increase to $26.5 million from $19.3 million in the same quarter of 2024, and narrowed its 2025 financial guidance. The company declared a quarterly dividend of $0.67 per share, payable on December 1, 2025. The results reflect disciplined strategy execution and operational efficiency, with increased operating income driven by new rates and customer growth, despite higher expenses in depreciation, taxes, and employee costs. Regulatory activities in 2025 included rate cases and infrastructure program filings in Texas, Kansas, and Oklahoma, with new rates expected to take effect in 2026.
The most recent analyst rating on (OGS) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.
On October 30, 2025, ONE Gas, Inc. entered into a third amended and restated credit agreement with Bank of America and other lenders, establishing a $1.5 billion unsecured revolving credit facility. This agreement, which can be increased by up to $750 million, will support the company’s working capital, capital expenditures, and other corporate purposes, potentially enhancing its operational flexibility and market positioning.
The most recent analyst rating on (OGS) stock is a Buy with a $92.00 price target. To see the full list of analyst forecasts on ONE Gas stock, see the OGS Stock Forecast page.