(OGS) One Gas - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US68235P1084

Stock: Natural Gas, Distribution Services, Residential, Commercial, Transportation

Total Rating 32

Risk 59

Buy Signal -1.01

Utilities - Regulated Gas » Gas Utilities
Age: 12.1y

Market Cap: 4,831m
Avg Trading Vol: 36.7M USD

ATR: 1.80%
Peers RS (IBD): 25.00

EPS (Earnings per Share)

EPS CAGR: -60.41%
EPS Trend: -31.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: -11.27%
Rev. Trend: -22.0%

Last SUE: -1.00
Qual. Beats: 0

Dividends

Dividend Yield	3.54%
Yield on Cost 5y	5.51%
Yield CAGR 5y	3.67%
Payout Consistency	100.0%
Payout Ratio	91.2%

Risk 5d forecast
Volatility	18.0%
Relative Tail Risk	1.16%

Reward TTM
Sharpe Ratio	0.86
Alpha	14.57

Character TTM
Beta	0.146
Beta Downside	0.074

Drawdowns 3y
Max DD	29.71%
CAGR/Max DD	0.14

Description: OGS One Gas January 08, 2026

ONE Gas, Inc. (NYSE: OGS) is a regulated natural-gas distribution utility serving roughly 2.3 million residential, commercial, and transportation customers across Oklahoma, Kansas, and Texas. Founded in 1906 and headquartered in Tulsa, Oklahoma, the company operates through subsidiaries that own and maintain a pipeline network of about 12,000 mi of distribution lines.

Key operating metrics that analysts watch include the 2023 regulated rate base of approximately $7.4 billion and an operating cash flow of $560 million, reflecting the capital-intensive nature of utility infrastructure. Growth in residential gas consumption is modestly tied to regional weather patterns and population trends, while the utility’s earnings are insulated by state-level rate-case approvals that limit exposure to short-term gas price volatility. A sector-wide driver is the ongoing shift toward electrification and renewable-energy mandates, which could pressure long-term demand for natural-gas distribution services.

For a deeper quantitative view, the ValueRay platform provides granular financials and scenario tools that can help you evaluate OGS’s risk-adjusted upside.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income: 254.9m TTM > 0 and > 6% of Revenue
FCF/TA: -0.01 > 0.02 and ΔFCF/TA 2.42 > 1.0
NWC/Revenue: -32.71% < 20% (prev -33.86%; Δ 1.15% < -1%)
CFO/TA 0.07 > 3% & CFO 598.4m > Net Income 254.9m
Net Debt (3.39b) to EBITDA (761.0m): 4.46 < 3
Current Ratio: 0.47 > 1.5 & < 3
Outstanding Shares: last quarter (60.5m) vs 12m ago 5.89% < -2%
Gross Margin: 41.66% > 18% (prev 0.36%; Δ 4130 % > 0.5%)
Asset Turnover: 28.64% > 50% (prev 25.61%; Δ 3.03% > 0%)
Interest Coverage Ratio: 3.06 > 6 (EBITDA TTM 761.0m / Interest Expense TTM 146.1m)

Altman Z'' 0.27

A: -0.09 (Total Current Assets 679.2m - Total Current Liabilities 1.45b) / Total Assets 8.50b
B: 0.10 (Retained Earnings 863.8m / Total Assets 8.50b)
C: 0.05 (EBIT TTM 447.6m / Avg Total Assets 8.27b)
D: 0.16 (Book Value of Equity 864.5m / Total Liabilities 5.32b)
Altman-Z'' Score: 0.27 = B

Beneish M -2.88

DSRI: 1.30 (Receivables 263.8m/176.2m, Revenue 2.37b/2.06b)
GMI: 0.87 (GM 41.66% / 36.42%)
AQI: 0.91 (AQ_t 0.10 / AQ_t-1 0.10)
SGI: 1.15 (Revenue 2.37b / 2.06b)
TATA: -0.04 (NI 254.9m - CFO 598.4m) / TA 8.50b)
Beneish M-Score: -2.88 (Cap -4..+1) = A

What is the price of OGS shares?

As of February 08, 2026, the stock is trading at USD 82.49 with a total of 584,682 shares traded.
Over the past week, the price has changed by +3.68%, over one month by +7.49%, over three months by +2.14% and over the past year by +20.14%.

Is OGS a buy, sell or hold?

One Gas has received a consensus analysts rating of 3.50. Therefor, it is recommend to hold OGS.

StrongBuy: 3
Buy: 0
Hold: 4
Sell: 0
StrongSell: 1

What are the forecasts/targets for the OGS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	85	3%
Analysts Target Price	85	3%
ValueRay Target Price	89.5	8.5%

OGS Fundamental Data Overview February 05, 2026

P/E Trailing = 18.7669
P/E Forward = 17.5439
P/S = 2.0393
P/B = 1.5068
P/EG = 4.19
Revenue TTM = 2.37b USD
EBIT TTM = 447.6m USD
EBITDA TTM = 761.0m USD
Long Term Debt = 2.36b USD (from longTermDebt, last quarter)
Short Term Debt = 1.04b USD (from shortTermDebt, last quarter)
Debt = 3.40b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.39b USD (from netDebt column, last quarter)
Enterprise Value = 8.22b USD (4.83b + Debt 3.40b - CCE 9.05m)
Interest Coverage Ratio = 3.06 (Ebit TTM 447.6m / Interest Expense TTM 146.1m)
EV/FCF = -70.39x (Enterprise Value 8.22b / FCF TTM -116.8m)
FCF Yield = -1.42% (FCF TTM -116.8m / Enterprise Value 8.22b)
FCF Margin = -4.93% (FCF TTM -116.8m / Revenue TTM 2.37b)
Net Margin = 10.76% (Net Income TTM 254.9m / Revenue TTM 2.37b)
Gross Margin = 41.66% ((Revenue TTM 2.37b - Cost of Revenue TTM 1.38b) / Revenue TTM)
Gross Margin QoQ = 79.79% (prev 41.25%)
Tobins Q-Ratio = 0.97 (Enterprise Value 8.22b / Total Assets 8.50b)
Interest Expense / Debt = 1.04% (Interest Expense 35.4m / Debt 3.40b)
Taxrate = 18.24% (5.91m / 32.4m)
NOPAT = 366.0m (EBIT 447.6m * (1 - 18.24%))
Current Ratio = 0.47 (Total Current Assets 679.2m / Total Current Liabilities 1.45b)
Debt / Equity = 1.07 (Debt 3.40b / totalStockholderEquity, last quarter 3.18b)
Debt / EBITDA = 4.46 (Net Debt 3.39b / EBITDA 761.0m)
Debt / FCF = -29.03 (negative FCF - burning cash) (Net Debt 3.39b / FCF TTM -116.8m)
Total Stockholder Equity = 3.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.08% (Net Income 254.9m / Total Assets 8.50b)
RoE = 8.06% (Net Income TTM 254.9m / Total Stockholder Equity 3.16b)
RoCE = 8.11% (EBIT 447.6m / Capital Employed (Equity 3.16b + L.T.Debt 2.36b))
RoIC = 5.66% (NOPAT 366.0m / Invested Capital 6.47b)
WACC = 4.14% (E(4.83b)/V(8.23b) * Re(6.45%) + D(3.40b)/V(8.23b) * Rd(1.04%) * (1-Tc(0.18)))
Discount Rate = 6.45% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 4.13%
Fair Price DCF = unknown (Cash Flow -116.8m)
EPS Correlation: -31.25 | EPS CAGR: -60.41% | SUE: -4.0 | # QB: 0
Revenue Correlation: -21.97 | Revenue CAGR: -11.27% | SUE: -1.00 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.15 | Chg30d=-0.003 | Revisions Net=-1 | Analysts=3
EPS next Year (2026-12-31): EPS=4.71 | Chg30d=-0.003 | Revisions Net=-1 | Growth EPS=+7.6% | Growth Revenue=+10.2%

Additional Sources for OGS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle