What is ONE GAS's net margin?

ONE GAS (OGS) reported net margin of 8.6% in Q4 2022.

How has ONE GAS's net margin changed year-over-year?

ONE GAS's net margin decreased by 24.6% year-over-year, from 11.4% to 8.6%.

What is the long-term trend for ONE GAS's net margin?

Over 2 years (2020 to 2022), ONE GAS's net margin has grown at a -18.1% compound annual growth rate (CAGR), from 12.8% to 8.6%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

ONE GAS OGS Net margin

Discontinued — last reported Q4 '22

Net margin at other companies

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27.6%+2.2pp

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12.7%+3.2pp

CNP

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11.4%+0.6pp

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15.7%-4.4pp

MDU Resources GroupMDU

10.5%-3.7pp

Essential UtilitiesWTRG

21.8%-5.3pp

Other financials

Income statement

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Revenue$644.5M+42.5%

Gross profit$279.7M+8.3%

Operating income$189.6M+5.0%

Net income$128.7M+7.7%

EPS (diluted)$2.04+3.0%

Balance sheet

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Cash & equivalents$23.0M-18.4%

Total debt$2.4B+11.5%

Total equity$3.5B+10.7%

Total assets$8.8B+6.0%

Cash flow

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Operating cash flow$176.3M-36.5%

CapEx$156.5M-6.0%

Free cash flow$19.8M-82.2%

Valuation

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Market cap$4.82B+19.3%

Enterprise value$7.24B+16.9%

P/E17.6×+1.0×

P/S1.9×-0.8×

Profitability

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Gross margin43.4%-13.7pp

Operating margin13.6%-3.6pp

FCF margin42.8%+24.8pp

Returns & leverage

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Return on equity8.2%+0.1pp

Debt / equity0.7×0.0×

Current ratio0.6×0.0×

Where this comes from

Calculated from ONE GAS’s reported figures.

net income/total revenue=8.6%

Based on trailing twelve months.

The official record: ONE GAS’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is ONE GAS's net margin?: ONE GAS (OGS) reported net margin of 8.6% in Q4 2022.
How has ONE GAS's net margin changed year-over-year?: ONE GAS's net margin decreased by 24.6% year-over-year, from 11.4% to 8.6%.
What is the long-term trend for ONE GAS's net margin?: Over 2 years (2020 to 2022), ONE GAS's net margin has grown at a -18.1% compound annual growth rate (CAGR), from 12.8% to 8.6%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.