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ONE Gas, Inc.
ONE Gas, Inc. (OGS) is listed on NYSE and classified in Utilities - Regulated Gas, part of the Utilities sector. It is headquartered in Tulsa, United States and has 4,000 employees. The company is worth $4.92B and trades at 16.2x its earnings of the last twelve months; the median for its sector is 20.5x. Revenue was $2.58B in fiscal 2022, up 42.5% from the year before. Net income was $221.74M. The share price is 13.8% below its 52-week high of $90.78. It pays a dividend yielding 3.48%, and has raised its annual dividend for 10 years in a row in our records. 5 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $86.3M. In that quarter, 4 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +16.6% over 5Y.
today you would have $1,338.24▲ +33.8%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 12 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $77.25 | $69.25 | $63.72 | $75.72 | $77.59 | $76.77 | $93.57 | $79.60 | $73.26 | $63.96 | $50.17 | $41.22 | |
| P/E | 20.5x | 17.7x | 17.7x | 15.4x | 18.6x | 20.2x | 20.9x | 26.7x | 24.5x | 23.8x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 3.5% a year plus a 3.5% dividend yield. Growth capped at 25%.
Median P/E of 20.5 among peers in the sector.
Median P/E of 20.5 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Utilities, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| OKLOOklo Inc. | $27.01 | — | 1.5x | 0.00% | -7.70% | $5.02B |
| SRSpire Inc | $85.56 | 24.8x | 1.4x | 3.86% | 8.11% | $5.06B |
| NWENorthWestern Energy Group, Inc. | $77.13 | 27.8x | 1.6x | 3.47% | 5.93% | $4.74B |
| BIPCBrookfield Infrastructure Corp | $37.63 |
| 24.1x |
| 22.4x |
| 19.9x |
| P/S | 2.5x | — | — | — | 1.6x | 2.3x | 2.7x | 3.0x | 2.6x | 2.5x | 2.3x | — | — |
| P/B | 1.7x | 1.4x | 1.3x | 1.3x | 1.6x | 1.8x | 1.8x | 2.3x | 2.0x | 2.0x | 1.8x | 1.4x | 1.2x |
| EPS | $4.37 | $3.91 | $4.14 | $4.08 | $3.85 | $3.68 | $3.51 | $3.25 | $3.08 | $2.65 | $2.24 | $2.07 |
| Dividend yield | 2.60% | 3.47% | 3.81% | 4.08% | 3.28% | 2.99% | 2.81% | 2.14% | 2.31% | 2.29% | 2.19% | 2.39% | 2.04% |
| Payout | 57.84% | 61.33% | 67.52% | 62.80% | 60.78% | 60.26% | 58.70% | 56.98% | 56.62% | 54.55% | 52.83% | 53.57% | 40.58% |
| Profit margin | 10.59% | — | — | — | 8.60% | 11.41% | 12.84% | 11.30% | 10.54% | 10.59% | 9.82% | — | — |
| ROE | 8.34% | 7.68% | 7.18% | 8.36% | 8.58% | 8.79% | 8.79% | 8.77% | 8.43% | 8.32% | 7.42% | 6.46% | 6.12% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 5.7% a year against a 7.2% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+70.1% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| — |
| — |
| 4.84% |
| 17.16% |
| $4.63B |
| PORPortland General Electric Co | $44.90 | 19.4x | 1.3x | 4.92% | 6.45% | $5.28B |
| ORAOrmat Technologies Inc | $88.10 | 43.2x | 2.1x | 0.54% | 4.78% | $5.42B |