MARKETS / NYSE / OGS

NYSE · NATURAL GAS DISTRIBUTION · LARGE CAP

ONE Gas, Inc. OGS

14 fiscal years on record · USD · FY2025 reported · SEC filings only

11 YEARS OF DIVIDEND GROWTH

Net income

$264.2M

▲ 18.6% YoY

Free cash flow

$-128.4M

In brief

What this company does

ONE Gas, Inc. is a 100-percent regulated natural gas distribution utility headquartered in Tulsa, Oklahoma. It provides natural gas distribution services to approximately 2.3 million customers. It employed approximately 4,000 people on February 1, 2026, including approximately 700 people at Kansas Gas Service who are subject to collective bargaining agreements. Its 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. It is the successor to a company founded in 1906 as Oklahoma Natural Gas Company, which became ONEOK, Inc. in 1980. On January 31, 2014, ONE Gas separated from ONEOK, Inc.

Written from the business description in ONE Gas, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

—

Revenue, FY2025 · full 14-year series below

Revenue $B Net income $B

FY2022 · Revenue 2.6 · Net income 0.2

Compound annual growth

Revenue

+16.0%

+10.9%

Net income

+6.0%

+6.1%

+8.3%

EPS, diluted

+2.3%

+3.5%

+6.9%

Dividend / share

+2.6%

+4.4%

+8.4%

Returned to shareholders

+6.3%

+7.0%

+7.2%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

—

Operating margin Net margin

FY2022 · Operating 13.6% · Net 8.6%

ROE

FY2025 · ROE 8.1%

Gross margin—

Operating margin—

Net margin—

Return on assets3.1%

EBITDA—

Each USD of equity produced 8 cents of profit this year.

Cash & shareholders

USD 160.7M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF -0.1

Net buybacks $M Dividends $M

FY2025 · Dividends 160.7 · Net buybacks —

Dividends paidUSD 160.7M

Net buybacks—

Share of profit60.8%

Consecutive raises11 years

USD 160.7M in dividends — 61% of the year's profit went back to shareholders.

Total assetsUSD 8.9B

EquityUSD 3.4B

CashUSD 10.6M

Gross debtUSD 2.6B

Net debtUSD 2.6B

Current ratio0.60×

Net debt stands at 75% of equity.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue $B	·	·	·	2.6	1.8	1.5	1.7	1.6	1.5	1.4	·	·	·	·
Operating income $B	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.2
EBITDA $B	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Net income $B	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1
Free cash flow $B	−0.1	−0.3	0.3	1.0	−2.0	−0.1	−0.1	0.1	−0.1	−0.0	0.1	−0.1	−0.1	−0.1
EPS, diluted $	4.37	3.91	4.14	4.08	3.85	3.68	3.51	3.25	3.08	2.65	2.24	2.07	1.90	1.84
Dividend / sh $	2.68	2.64	2.60	2.48	2.32	2.16	2.00	1.84	1.68	1.40	1.20	0.84	0.00	0.00
Payout %	61	67	62	60	60	58	56	56	54	52	53	40	0	0
ROE %	8.1	7.6	8.6	9.0	9.0	9.0	9.0	8.6	8.5	7.5	6.5	7.2	8.3	8.4
Shares out B	0.06	0.06	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.00	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 38 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityNatural Gas Distribution

Listed onNYSE

Incorporated inOklahoma

Fiscal year endsDecember 31

Data on record since2012