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ONE GAS OGS Regulatory Asset

Regulatory Asset at other companies

Atmos Energy logo
Atmos EnergyATO
$741.63M+67.7%
Essential Utilities logo
Essential UtilitiesWTRG
$2.11B+8.7%

Other financials

Income statement

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Revenue$644.5M+42.5%
Gross profit$279.7M+8.3%
Operating income$82.7M+15.1%
Net income$46.8M+46.1%
EPS (diluted)$0.74+39.6%

Balance sheet

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Cash & equivalents$30.6M-28.4%
Total debt$2.4B+11.5%
Total equity$3.5B+11.1%
Total assets$8.8B+5.4%

Cash flow

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Operating cash flow$211.0M+23.2%
CapEx$173.5M-3.9%
Free cash flow$37.5M+511%

Valuation

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Market cap$5B+13.0%
Enterprise value$7.42B+12.7%
P/E17.4×-0.5×

Profitability

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Gross margin43.4%-13.7pp
Operating margin13.6%-3.6pp
Net margin8.6%-2.8pp
FCF margin42.8%+24.8pp

Returns & leverage

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Return on equity8.6%+0.3pp
Debt / equity0.7×0.0×
Current ratio0.5×0.0×

Where this comes from

Reported directly by ONE GAS in its filing.

Tagged under the XBRL concept us-gaap:RegulatoryAssets.

The source filing: ONE GAS’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:24 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001587732-26-000035
Line itemCurrentNoncurrentTotal
WNA32,83532,835
Customer credit deferrals12,3851,07513,460
Other, net6,4072,9759,382
Total regulatory assets83,367250,704334,071
Income tax rate changes(428,331)(428,331)
Over-recovered purchased-gas costs(22,384)(22,384)
Ad-valorem tax(2,060)(2,060)
Other(258)(4,804)(5,062)

Item 1. Financial Statements (Unaudited)

FAQ

What is ONE GAS's regulatory asset?
ONE GAS (OGS) reported regulatory asset of $334.07M in Q2 2026.
How has ONE GAS's regulatory asset changed year-over-year?
ONE GAS's regulatory asset increased by 7.7% year-over-year, from $310.09M to $334.07M.
What is the long-term trend for ONE GAS's regulatory asset?
Over 4 years (2021 to 2025), ONE GAS's regulatory asset has grown at a -39.9% compound annual growth rate (CAGR), from $2.34B to $305.73M.
What does regulatory asset mean?
These are costs incurred by the utility that are expected to be recovered from customers through future rate adjustments as approved by regulatory commissions. They represent deferred expenses that do not currently impact cash flow but are recognized as assets due to the regulatory framework. This metric is critical for understanding the long-term recovery of capital investments and operating costs.

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