Cash flow ONE Gas, Inc.

Equities

OGS

US68235P1084

Natural Gas Utilities

Market Closed - Nyse Other stock markets 04:00:03 2026-04-17 pm EDT			5-day change	1st Jan Change
88.96 ^USD	-0.80%		-1.16%	+15.16%

Feb. 19	ONE Gas, Inc., Q4 2025 Earnings Call, Feb 19, 2026
Feb. 18	One Gas promotes Curtis Dinan to president and COO	RE

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Published financial data: ONE GAS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues - (Utility Template)	1.81B	2.58B	2.37B	2.08B	2.43B
Total Revenues	1.81B	2.58B	2.37B	2.08B	2.43B
Operations And Maintenance	450M	472M	508M	530M	558M
Depreciation & Amortization - (IS) - (Collected)	207M	228M	280M	297M	317M
Other Operating Expenses	845M	1.52B	1.2B	854M	1.09B
Total Operating Expenses	1.5B	2.22B	1.99B	1.68B	1.97B
Operating Income (REIT / Utility Template)	306M	354M	382M	403M	459M
Interest Expense, Total	-60.3M	-77.51M	-115M	-147M	-143M
Net Interest Expenses	-60.3M	-77.51M	-115M	-147M	-143M
Other Non Operating Income (Expenses)	723K	-7.95M	5.46M	3.83M	5.17M
EBT, Excl. Unusual Items	247M	268M	272M	259M	321M
Gain (Loss) on Sale of Investments	-	-	-	-	391K
EBT, Incl. Unusual Items	247M	268M	272M	259M	321M
Income Tax Expense	40.32M	46.53M	40.5M	36.39M	57.24M
Earnings From Continuing Operations	206M	222M	231M	223M	264M
Net Income to Company	206M	222M	231M	223M	264M
Net Income - (IS)	206M	222M	231M	223M	264M
Net Income to Common Incl Extra Items	206M	222M	231M	223M	264M
Net Income to Common Excl. Extra Items	206M	222M	231M	223M	264M
Per Share Items
Net EPS - Basic	3.85	4.09	4.16	3.92	4.39
Basic EPS - Continuing Operations	3.85	4.09	4.16	3.92	4.39
Basic Weighted Average Shares Outstanding	53.58M	54.21M	55.6M	56.83M	60.16M
Net EPS - Diluted	3.85	4.08	4.14	3.91	4.37
Diluted EPS - Continuing Operations	3.85	4.08	4.14	3.91	4.37
Diluted Weighted Average Shares Outstanding	53.67M	54.34M	55.86M	57.03M	60.51M
Normalized Basic EPS	2.88	3.09	3.05	2.85	3.34
Normalized Diluted EPS	2.87	3.09	3.04	2.84	3.32
Dividend Per Share	2.32	2.48	2.6	2.64	2.68
Payout Ratio	60.02	60.41	62.32	67.07	60.82
Supplemental Items
Utility Revenues	1.66B	2.41B	2.15B	1.87B	2.2B
Non Utility Revenues	146M	165M	217M	218M	231M
EBITDA	514M	582M	661M	699M	776M
EBITA	306M	357M	412M	430M	491M
EBIT	306M	354M	382M	403M	459M
EBITDAR	522M	590M	669M	707M	784M
Effective Tax Rate - (Ratio)	16.34	17.34	14.9	14.04	17.8
Current Domestic Taxes	-3.13M	68.56M	15.72M	-70.14M	7.73M
Total Current Taxes	-3.13M	68.56M	15.72M	-70.14M	7.73M
Deferred Domestic Taxes	43.45M	-22.03M	24.77M	107M	49.51M
Total Deferred Taxes	43.45M	-22.03M	24.77M	107M	49.51M
Normalized Net Income	154M	168M	170M	162M	201M
Interest Capitalized	4.2M	4.5M	5.7M	8.2M	11.8M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	12.6M	-5.34M	-14.71M	-11.75M	358K
Supplemental Operating Expense Items
Net Rental Expense, Total	8.2M	7.8M	7.7M	7.7M	7.8M
Imputed Operating Lease Interest Expense	1.36M	1.38M	2.37M	2.99M	2.87M
Imputed Operating Lease Depreciation	6.84M	6.42M	5.33M	4.71M	4.93M
Stock-Based Comp., Other (Total)	10.5M	10.74M	12.18M	13.73M	14.79M
Total Stock-Based Compensation	10.5M	10.74M	12.18M	13.73M	14.79M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	8.85M	9.68M	18.84M	58M	10.62M
Short Term Investments - (Utility / Insurance Templates)	-	-	-	-	2.63M
Accounts Receivable, Total	342M	554M	348M	408M	462M
Other Receivables	-	-	-	53.62M	55.55M
Accounts Receivable (Summary Subtotal)	342M	554M	348M	462M	517M
Inventory - (Utility Template)	235M	340M	265M	253M	274M
Restricted Cash	-	8.45M	20.55M	20.54M	23.11M
Other Current Assets, Total	1.64B	306M	113M	136M	88.3M
Total Current Assets	2.22B	1.22B	765M	930M	916M
Gross Property Plant And Equipment	7.31B	7.86B	8.49B	9.14B	9.75B
Accumulated Depreciation	-2.08B	-2.21B	-2.33B	-2.48B	-2.61B
Net Property Plant And Equipment	5.22B	5.65B	6.16B	6.66B	7.14B
Regulatory Assets	725M	331M	288M	278M	256M
Goodwill	158M	158M	158M	158M	158M
Other Intangibles, Total	-	324M	294M	266M	234M
Other Long-Term Assets, Total	73.01M	94.03M	110M	130M	154M
Total Assets	8.4B	7.78B	7.77B	8.43B	8.85B
Liabilities
Accounts Payable, Total	259M	360M	278M	261M	222M
Accrued Expenses, Total	67.04M	78.35M	68.79M	75.61M	75.57M
Short-Term Borrowings	494M	552M	88.5M	915M	737M
Current Portion of Long-Term Debt	-	20.72M	800M	28.97M	280M
Current Portion of Leases	6.8M	6.5M	6M	5.2M	4.9M
Other Current Liabilities - (Bank / Utility Template)	154M	171M	235M	173M	212M
Total Current Liabilities	980M	1.19B	1.48B	1.46B	1.53B
Long-Term Debt	3.68B	2.66B	2.16B	2.39B	2.36B
Long-Term Leases	24.4M	17.4M	14.3M	11.4M	7.6M
Pension & Other Post Retirement Benefits	35.23M	19.59M	20.26M	-	-
Deferred Tax Liability Non-Current	695M	698M	752M	892M	964M
Other Non Current Liabilities, Total	634M	605M	581M	574M	554M
Total Liabilities	6.05B	5.19B	5.01B	5.32B	5.41B
Common Stock, Total	536K	553K	565K	599K	627K
Additional Paid In Capital	1.79B	1.93B	2.03B	2.29B	2.53B
Retained Earnings	565M	652M	738M	810M	909M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	-6.53M	-704K	-1.18M	-126K	4K
Total Common Equity	2.35B	2.58B	2.77B	3.1B	3.44B
Total Equity	2.35B	2.58B	2.77B	3.1B	3.44B
Total Liabilities And Equity	8.4B	7.78B	7.77B	8.43B	8.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	53.63M	55.35M	56.55M	59.88M	62.69M
ECS Total Common Shares Outstanding	53.63M	55.35M	56.55M	59.88M	62.69M
Book Value / Share	43.81	46.69	48.91	51.85	54.87
Tangible Book Value	2.19B	2.1B	2.31B	2.68B	3.05B
Tangible Book Value Per Share	40.86	37.99	40.93	44.77	48.62
Total Debt	4.21B	3.26B	3.07B	3.35B	3.39B
Net Debt	4.2B	3.25B	3.05B	3.29B	3.37B
Debt Equivalent of Unfunded Proj. Benefit Obligation	36.75M	15.67M	8.22M	5.72M	-534K
Debt Equivalent Oper. Leases	65.6M	62.4M	61.6M	61.6M	62.4M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	54.89M	70.87M	77.65M	91.66M	97.6M
Inventories - Finished Goods, Total	180M	269M	187M	161M	176M
Machinery, Total	713M	783M	908M	943M	1.07B
Full Time Employees	3.6K	3.8K	3.9K	3.9K	4K
Accumulated Allowance for Doubtful Accounts (Supple)	18.7M	16.7M	16.1M	14.9M	12.7M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	206M	222M	231M	223M	264M
Depreciation, Depletion & Amortization	207M	225M	250M	269M	285M
Amortization of Goodwill and Intangible Assets - (CF)	-	3.5M	30.2M	27.7M	32.2M
Total Depreciation, Depletion & Amortization	207M	228M	280M	297M	317M
Stock-Based Compensation (CF)	10.5M	10.74M	12.18M	13.73M	14.79M
Provision and Write-off of Bad Debts	9.13M	6M	9.7M	6.7M	8.21M
Change in Accounts Receivable	-57.9M	-214M	196M	-67.29M	-61.39M
Change In Inventories	-87.83M	-106M	75.33M	11.9M	-21.2M
Change in Accounts Payable	107M	85.92M	-90.05M	-15.01M	-35.4M
Change In Income Taxes	-	-	-	-49.68M	-1.93M
Change in Other Net Operating Assets (Collected)	-1.97B	28.61M	2.89M	-158M	44.76M
Other Operating Activities	43.45M	1.31B	222M	107M	49.51M
Cash from Operations	-1.54B	1.57B	940M	368M	579M
Capital Expenditure	-495M	-609M	-667M	-703M	-707M
Other Investing Activities, Total	-5.84M	-4.62M	-3.01M	-4.33M	-8.1M
Cash from Investing	-501M	-614M	-670M	-707M	-715M
Short Term Debt Issued, Total	75.78M	58M	-	826M	-
Long-Term Debt Issued, Total	2.5B	634M	300M	253M	250M
Total Debt Issued	2.57B	692M	300M	1.08B	250M
Short Term Debt Repaid, Total	-	-	-464M	-	-177M
Long-Term Debt Repaid, Total	-400M	-1.63B	-20.72M	-801M	-29.51M
Total Debt Repaid	-400M	-1.63B	-484M	-801M	-207M
Issuance of Common Stock	26.66M	134M	85.26M	252M	212M
Repurchase of Common Stock	-4.71M	-3.17M	-2.65M	-1.11M	-2.66M
Common Dividends Paid	-124M	-134M	-144M	-149M	-161M
Common & Preferred Stock Dividends Paid	-124M	-134M	-144M	-149M	-161M
Other Financing Activities, Total	-35.11M	-8.57M	-2.51M	-2.19M	-432K
Cash from Financing	2.04B	-947M	-249M	378M	91.68M
Net Change in Cash	859K	9.28M	21.26M	39.15M	-44.81M
Supplemental Items
Cash Interest Paid	70.07M	84.87M	80.73M	149M	139M
Cash Income Tax Paid (Refund)	-10.81M	67.42M	20.84M	-20.46M	9.13M
Net Debt Issued / Repaid	2.17B	-935M	-185M	279M	43.29M
Levered Free Cash Flow	-1.71B	934M	219M	-437M	-209M
Unlevered Free Cash Flow	-1.67B	982M	291M	-345M	-119M
Change In Net Working Capital	1.58B	-1.13B	-427M	204M	30.94M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.65	2.73	3.07	3.11	3.32
Return on Total Capital	3.55	3.57	4.09	4.1	4.32
Return On Equity %	9.01	8.99	8.64	7.59	8.07
Return on Common Equity	9.01	8.99	8.64	7.59	8.07
Margin Analysis
Gross Profit Margin %	32.29	25.08	30.74	37.2	35.84
SG&A Margin	0.22	-0.15	-0.17	-0.17	-0.05
EBITDA Margin %	28.4	22.58	27.89	33.56	31.97
EBITA Margin %	16.94	13.86	17.36	20.65	20.22
EBIT Margin %	16.94	13.72	16.09	19.32	18.9
Income From Continuing Operations Margin %	11.41	8.6	9.75	10.7	10.88
Net Income Margin %	11.41	8.6	9.75	10.7	10.88
Net Avail. For Common Margin %	11.41	8.6	9.75	10.7	10.88
Normalized Net Income Margin	8.53	6.5	7.16	7.78	8.27
Levered Free Cash Flow Margin	-94.37	36.22	9.23	-20.99	-8.6
Unlevered Free Cash Flow Margin	-92.28	38.1	12.27	-16.58	-4.92
Asset Turnover
Asset Turnover	0.25	0.32	0.31	0.26	0.28
Fixed Assets Turnover	0.36	0.47	0.4	0.33	0.35
Receivables Turnover (Average Receivables)	5.7	5.76	5.26	5.51	5.58
Inventory Turnover (Average Inventory)	6.42	6.72	5.43	5.06	5.91
Short Term Liquidity
Current Ratio	2.27	1.02	0.52	0.64	0.6
Quick Ratio	0.36	0.47	0.25	0.36	0.35
Operating Cash Flow to Current Liabilities	-1.57	1.32	0.64	0.25	0.38
Days Sales Outstanding (Average Receivables)	64.05	63.4	69.38	66.43	65.41
Days Outstanding Inventory (Average Inventory)	56.81	54.3	67.19	72.39	61.74
Average Days Payable Outstanding	57.13	55.46	74.34	76.13	55.89
Cash Conversion Cycle (Average Days)	63.73	62.23	62.22	62.69	71.27
Long Term Solvency
Total Debt/Equity	179.12	126.08	110.98	107.76	98.43
Total Debt / Total Capital	64.17	55.77	52.6	51.87	49.6
LT Debt/Equity	157.81	103.66	78.63	77.2	68.71
Long-Term Debt / Total Capital	56.54	45.85	37.27	37.16	34.63
Total Liabilities / Total Assets	72.04	66.77	64.41	63.15	61.14
EBIT / Interest Expense	5.08	4.56	3.31	2.73	3.21
EBITDA / Interest Expense	8.65	7.61	5.8	4.8	5.49
(EBITDA - Capex) / Interest Expense	0.44	-0.25	0.02	0.03	0.54
Total Debt / EBITDA	8.07	5.52	4.59	4.73	4.32
Net Debt / EBITDA	8.05	5.51	4.56	4.65	4.3
Total Debt / (EBITDA - Capex)	158.72	-167.23	1.23K	862.68	44.24
Net Debt / (EBITDA - Capex)	158.39	-166.74	1.22K	847.72	44.07
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.19	42.54	-7.99	-12.16	16.5
Gross Profit, 1 Yr. Growth %	3.95	10.74	12.75	6.31	12.26
EBITDA, 1 Yr. Growth %	4.1	13.37	13.61	5.73	10.98
EBITA, 1 Yr. Growth %	2.64	16.61	15.28	4.5	14.11
EBIT, 1 Yr. Growth %	2.64	15.47	7.88	5.51	13.96
Earnings From Cont. Operations, 1 Yr. Growth %	5.1	7.42	4.28	-3.62	18.57
Net Income, 1 Yr. Growth %	5.1	7.42	4.28	-3.62	18.57
Diluted EPS Before Extra, 1 Yr. Growth %	4.62	5.97	1.47	-5.56	11.76
Normalized Net Income, 1 Yr. Growth %	3.68	8.72	1.29	-4.6	23.85
Net Property, Plant and Equip., 1 Yr. Growth %	6.47	8.24	8.92	8.24	7.09
Inventory, 1 Yr. Growth %	59.86	45	-22.15	-4.49	8.38
Accounts Receivable, 1 Yr. Growth %	16.65	62.06	-37.19	17.42	13.02
Total Assets, 1 Yr. Growth %	39.37	-7.45	-0.07	8.42	5.07
Tangible Book Value, 1 Yr. Growth %	5.6	-4.06	10.07	15.83	13.72
Cash From Operations, 1 Yr. Growth %	-521.3	-202.29	-40.19	-60.79	57.12
Capital Expenditures, 1 Yr. Growth %	5.07	23.07	9.38	5.48	0.58
Levered Free Cash Flow, 1 Yr. Growth %	1.12K	-154.93	-76.71	-294.43	-52.3
Unlevered Free Cash Flow, 1 Yr. Growth %	1.55K	-159.09	-70.56	-216.27	-65.43
Dividend Per Share, 1 Yr. Growth %	7.41	6.9	4.84	1.54	1.52
Common Equity, 1 Yr. Growth %	5.2	10	7.02	12.24	10.81
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.61	29.8	14.52	-10.1	1.16
Gross Profit, 2 Yr. CAGR %	4.41	7.3	11.74	9.48	9.24
EBITDA, 2 Yr. CAGR %	4.56	8.64	13.49	9.6	8.31
EBITA, 2 Yr. CAGR %	2.89	9.41	15.95	10.3	13.42
EBIT, 2 Yr. CAGR %	2.89	8.87	11.61	6.69	9.64
Earnings From Cont. Operations, 2 Yr. CAGR %	5.14	6.25	5.84	0.25	6.9
Net Income, 2 Yr. CAGR %	5.14	6.25	5.84	0.25	6.9
Diluted EPS Before Extra, 2 Yr. CAGR %	4.73	5.29	3.7	-2.11	2.74
Normalized Net Income, 2 Yr. CAGR %	3.67	6.17	4.94	-1.7	8.7
Net Property, Plant and Equip., 2 Yr. CAGR %	6.55	7.35	8.58	8.58	7.66
Inventory, 2 Yr. CAGR %	21.08	52.25	6.24	-13.77	1.74
Accounts Receivable, 2 Yr. CAGR %	16.92	37.49	0.89	-14.12	15.2
Total Assets, 2 Yr. CAGR %	21.32	13.57	-3.83	4.09	6.74
Common Equity, 2 Yr. CAGR %	5.04	7.57	8.5	9.6	11.52
Tangible Book Value, 2 Yr. CAGR %	5.44	0.66	2.76	12.91	14.77
Cash From Operations, 2 Yr. CAGR %	122.45	107.6	-21.78	-51.57	-21.51
Capital Expenditures, 2 Yr. CAGR %	8.94	13.71	16.02	7.41	3
Levered Free Cash Flow, 2 Yr. CAGR %	322.8	158.17	-64.11	-31.8	-3.69
Unlevered Free Cash Flow, 2 Yr. CAGR %	444.48	211.8	-58.16	-40.9	-36.59
Dividend Per Share, 2 Yr. CAGR %	7.7	7.15	5.86	3.18	1.53
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.45	15.97	15.73	4.83	-1.99
Gross Profit, 3 Yr. CAGR %	4.79	6.48	9.08	9.9	10.4
EBITDA, 3 Yr. CAGR %	5.31	7.42	10.27	10.84	10.05
EBITA, 3 Yr. CAGR %	3.09	7.28	11.33	12	11.54
EBIT, 3 Yr. CAGR %	3.09	6.92	8.54	9.54	9.05
Earnings From Cont. Operations, 3 Yr. CAGR %	6.22	5.89	5.59	2.58	6.02
Net Income, 3 Yr. CAGR %	6.22	5.89	5.59	2.58	6.02
Diluted EPS Before Extra, 3 Yr. CAGR %	5.81	5.14	4	0.52	2.32
Normalized Net Income, 3 Yr. CAGR %	3.01	5.32	4.52	1.66	6.17
Net Property, Plant and Equip., 3 Yr. CAGR %	6.82	7.11	7.87	8.47	8.08
Inventory, 3 Yr. CAGR %	15.65	28.58	21.75	2.54	-6.94
Accounts Receivable, 3 Yr. CAGR %	4.98	30.36	5.89	6.12	-5.89
Total Assets, 3 Yr. CAGR %	15.39	10.86	8.83	0.09	4.42
Common Equity, 3 Yr. CAGR %	4.78	6.67	7.39	9.73	10
Tangible Book Value, 3 Yr. CAGR %	5.16	2.17	3.7	6.94	13.18
Cash From Operations, 3 Yr. CAGR %	48.63	71.7	37.11	-37.86	-28.31
Capital Expenditures, 3 Yr. CAGR %	7.88	13.46	12.25	12.39	5.08
Levered Free Cash Flow, 3 Yr. CAGR %	219.34	113.86	16.05	-36.4	-39.46
Unlevered Free Cash Flow, 3 Yr. CAGR %	170.34	159.37	42.28	-40.77	-50.57
Dividend Per Share, 3 Yr. CAGR %	8.03	7.43	6.38	4.4	2.62
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.85	10.86	7.74	4.74	9.67
Gross Profit, 5 Yr. CAGR %	3.65	4.22	7.52	7.67	9.14
EBITDA, 5 Yr. CAGR %	4.46	5.22	8.51	8.28	9.48
EBITA, 5 Yr. CAGR %	2.62	3.59	8.05	8.26	10.47
EBIT, 5 Yr. CAGR %	2.62	3.39	6.42	6.83	8.98
Earnings From Cont. Operations, 5 Yr. CAGR %	8.06	6.35	6.07	3.6	6.11
Net Income, 5 Yr. CAGR %	8.06	6.35	6.07	3.6	6.11
Diluted EPS Before Extra, 5 Yr. CAGR %	7.76	5.78	4.96	2.18	3.5
Normalized Net Income, 5 Yr. CAGR %	1.83	0.93	3.78	2.46	6.17
Net Property, Plant and Equip., 5 Yr. CAGR %	6.95	7.12	7.52	7.7	7.79
Inventory, 5 Yr. CAGR %	8.01	14.9	11.79	9.59	13.31
Accounts Receivable, 5 Yr. CAGR %	3.27	13.14	3.32	10.32	9.52
Total Assets, 5 Yr. CAGR %	11.19	8.35	7.28	8.1	7.99
Common Equity, 5 Yr. CAGR %	4.47	5.68	6.25	7.83	9.02
Tangible Book Value, 5 Yr. CAGR %	4.84	3.13	4.19	6.34	7.99
Cash From Operations, 5 Yr. CAGR %	39.51	43.99	14.97	3.49	9.69
Capital Expenditures, 5 Yr. CAGR %	9.89	11.33	11.07	11	8.45
Levered Free Cash Flow, 5 Yr. CAGR %	84.6	87.45	33.1	35.58	8.29
Unlevered Free Cash Flow, 5 Yr. CAGR %	99.91	143.13	28.07	43.73	3.4
Dividend Per Share, 5 Yr. CAGR %	10.63	8.1	7.16	5.71	4.41