ONE Gas (OGS) Gross Margin (2017 - 2026)
ONE Gas (OGS) reported Gross Margin of 52.68% for Q1 2026, up 748.0% year-over-year from 6.21% in Q1 2025, and down 56.66% quarter-over-quarter from 121.54% in Q4 2025.
ONE Gas (OGS) Gross Margin (2017 - 2026) Analysis & Trends
ONE Gas (OGS) has 10 years of Gross Margin data on file, last reported at 52.68% in Q1 2026.
- Gross Margin for Q1 2026 came in at 52.68%, up 748.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 77.92% (up 710.0% YoY), and the FY2025 annual result was 76.99%, up 244.0% from the prior year.
- Gross Margin slipped to 52.68% in Q1 2026 per OGS's latest filing, from 121.54% in the prior quarter.
- Over five years, Gross Margin peaked at 159.17% in Q4 2023 and troughed at 36.83% in Q4 2022.
- A 5-year average of 68.41% and a median of 67.29% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2023 and 2024: Gross Margin soared 19601 bps in 2023, then plunged 6166 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 36.83% in 2022, then soared by 532 bps to 159.17% in 2023, then plunged by 39 bps to 97.52% in 2024, then gained by 25 bps to 121.54% in 2025, then plunged by 57 bps to 52.68% in 2026.
- Business Quant data shows OGS's Gross Margin at 52.68% in Q1 2026, 121.54% in Q4 2025, and 63.81% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.34 Bn | 28.21 Bn | - | - |
| 2 | Nisource | 22.33 Bn | 24.52 Bn | 1.83 Bn | 78.93% |
| 3 | Ugi | 7.49 Bn | 6.94 Bn | 1.50 Bn | 55.79% |
| 4 | New Jersey Resources | 5.59 Bn | 5.45 Bn | 826.91 Mn | 88.02% |
| 5 | Black Hills | 5.49 Bn | 5.46 Bn | - | - |
| 6 | ONE Gas | 4.93 Bn | 4.91 Bn | 438.14 Mn | 52.68% |
| 7 | Mdu Resources | 4.39 Bn | 4.33 Bn | - | - |
| 8 | Centuri Holdings | 3.01 Bn | 2.95 Bn | 35.76 Mn | 4.94% |
| 9 | Chesapeake Utilities | 2.96 Bn | 2.96 Bn | 102.40 Mn | 41.08% |
| 10 | Brookfield Infrastructure | 426.14 Mn | 3.22 Bn | 539.00 Mn | 60.97% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 52.68% |
| Dec 31, 2025 | 121.54% |
| Sep 30, 2025 | 63.81% |
| Jun 30, 2025 | 69.09% |
| Mar 31, 2025 | 45.20% |
| Dec 31, 2024 | 97.52% |
| Sep 30, 2024 | 82.48% |
| Jun 30, 2024 | 79.68% |
| Mar 31, 2024 | 49.49% |
| Dec 31, 2023 | 159.17% |
| Sep 30, 2023 | 63.78% |
| Jun 30, 2023 | 67.29% |
| Mar 31, 2023 | 35.49% |
| Dec 31, 2022 | -36.83% |
| Sep 30, 2022 | 68.32% |
| Jun 30, 2022 | 56.12% |
| Mar 31, 2022 | 88.15% |
| Dec 31, 2021 | 23.39% |
| Sep 30, 2021 | 61.40% |
| Jun 30, 2021 | 70.31% |