ONE Gas (OGS) Gross Margin (2017 - 2026)
ONE Gas (OGS) posted quarterly Gross Margin of 52.68% for Q1 2026, up 748.0% year-over-year from 6.21% in Q1 2025, and down 8.64% quarter-over-quarter from 57.66% in Q4 2025.
ONE Gas (OGS) Gross Margin (2017 - 2026) Analysis & Trends
ONE Gas (OGS) has reported Gross Margin for 10 consecutive years, with 52.68% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 748.0% year-over-year to 52.68%; the TTM figure through Mar 2026 stood at 62.13% (up 229.0% YoY), while the FY2025 annual figure was 58.85%, down 380.0% from the prior year.
- Gross Margin fell to 52.68% in Q1 2026 per OGS's latest filing, from 57.66% in the prior quarter.
- Across five years, Gross Margin topped out at 82.48% in Q3 2024 and bottomed at 34.13% in Q1 2022.
- Historically, Gross Margin has averaged 59.31% across 5 years, with a median of 57.66% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 1565 bps — and 2023, when it soared 1752 bps.
- ONE Gas' Gross Margin stood at 38.32% in 2022, then soared by 46 bps to 55.84% in 2023, then advanced by 4 bps to 58.18% in 2024, then declined by 1 bps to 57.66% in 2025, then declined by 9 bps to 52.68% in 2026.
- Business Quant data shows OGS's Gross Margin at 52.68% in Q1 2026, 57.66% in Q4 2025, and 79.79% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 29.00 Bn | 28.48 Bn | - | - |
| 2 | Nisource | 20.17 Bn | 20.10 Bn | 867.50 Mn | 64.62% |
| 3 | Ugi | 8.29 Bn | 7.82 Bn | 573.00 Mn | 43.05% |
| 4 | New Jersey Resources | 5.60 Bn | 5.56 Bn | 243.61 Mn | 69.77% |
| 5 | Black Hills | 5.59 Bn | 5.51 Bn | - | - |
| 6 | ONE Gas | 5.16 Bn | 5.13 Bn | 272.01 Mn | 66.08% |
| 7 | Mdu Resources | 4.32 Bn | 4.28 Bn | - | - |
| 8 | Chesapeake Utilities | 3.30 Bn | 3.28 Bn | 150.20 Mn | 74.39% |
| 9 | Centuri Holdings | 2.24 Bn | 2.20 Bn | 69.14 Mn | 7.19% |
| 10 | Brookfield Infrastructure | 2.20 Bn | 1.44 Bn | 572.00 Mn | 60.85% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 78.07% |
| Mar 31, 2026 | 52.68% |
| Dec 31, 2025 | 57.66% |
| Sep 30, 2025 | 79.79% |
| Jun 30, 2025 | 72.17% |
| Mar 31, 2025 | 45.20% |
| Dec 31, 2024 | 58.18% |
| Sep 30, 2024 | 82.48% |
| Jun 30, 2024 | 79.68% |
| Mar 31, 2024 | 49.49% |
| Dec 31, 2023 | 55.84% |
| Sep 30, 2023 | 78.88% |
| Jun 30, 2023 | 67.29% |
| Mar 31, 2023 | 35.49% |
| Dec 31, 2022 | 38.32% |
| Sep 30, 2022 | 64.88% |
| Jun 30, 2022 | 56.12% |
| Mar 31, 2022 | 34.13% |
| Dec 31, 2021 | 48.15% |
| Sep 30, 2021 | 78.32% |