ONE Gas (OGS) Net Margin (2017 - 2026)
ONE Gas (OGS) posted quarterly Net Margin of 15.47% for Q1 2026, up 270.0% year-over-year from 4.18% in Q1 2025, and up 23.57% quarter-over-quarter from 12.52% in Q4 2025.
ONE Gas (OGS) Net Margin (2017 - 2026) Analysis & Trends
ONE Gas (OGS) has reported Net Margin for 10 consecutive years, with 15.47% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin rose 270.0% year-over-year to 15.47%; the TTM figure through Mar 2026 stood at 11.77% (up 102.0% YoY), while the FY2025 annual figure was 10.88%, up 19.0% from the prior year.
- Net Margin rose to 15.47% in Q1 2026 per OGS's latest filing, from 12.52% in the prior quarter.
- Across five years, Net Margin topped out at 15.47% in Q1 2026 and bottomed at 5.66% in Q3 2024.
- Historically, Net Margin has averaged 9.63% across 5 years, with a median of 8.21% in 2023.
- Annual changes were most pronounced in 2022 — Net Margin sank 510 bps — and 2023, when it jumped 348 bps.
- ONE Gas' Net Margin stood at 8.19% in 2022, then soared by 42 bps to 11.67% in 2023, then gained by 5 bps to 12.21% in 2024, then gained by 3 bps to 12.52% in 2025, then advanced by 24 bps to 15.47% in 2026.
- Business Quant data shows OGS's Net Margin at 15.47% in Q1 2026, 12.52% in Q4 2025, and 6.98% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 29.00 Bn | 28.48 Bn | - | 27.61% |
| 2 | Nisource | 20.17 Bn | 20.10 Bn | 867.50 Mn | 3.39% |
| 3 | Ugi | 8.29 Bn | 7.82 Bn | 573.00 Mn | -9.99% |
| 4 | New Jersey Resources | 5.60 Bn | 5.56 Bn | 243.61 Mn | 2.32% |
| 5 | Black Hills | 5.59 Bn | 5.51 Bn | - | 8.92% |
| 6 | ONE Gas | 5.16 Bn | 5.13 Bn | 272.01 Mn | 11.37% |
| 7 | Mdu Resources | 4.32 Bn | 4.28 Bn | - | 5.66% |
| 8 | Chesapeake Utilities | 3.30 Bn | 3.28 Bn | 150.20 Mn | 12.58% |
| 9 | Centuri Holdings | 2.24 Bn | 2.20 Bn | 69.14 Mn | 0.64% |
| 10 | Brookfield Infrastructure | 2.20 Bn | 1.44 Bn | 572.00 Mn | -2.55% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 11.37% |
| Mar 31, 2026 | 15.47% |
| Dec 31, 2025 | 12.52% |
| Sep 30, 2025 | 6.98% |
| Jun 30, 2025 | 7.56% |
| Mar 31, 2025 | 12.77% |
| Dec 31, 2024 | 12.21% |
| Sep 30, 2024 | 5.66% |
| Jun 30, 2024 | 7.69% |
| Mar 31, 2024 | 13.10% |
| Dec 31, 2023 | 11.67% |
| Sep 30, 2023 | 7.50% |
| Jun 30, 2023 | 8.21% |
| Mar 31, 2023 | 9.94% |
| Dec 31, 2022 | 8.19% |
| Sep 30, 2022 | 6.60% |
| Jun 30, 2022 | 7.48% |
| Mar 31, 2022 | 10.18% |
| Dec 31, 2021 | 10.19% |
| Sep 30, 2021 | 7.39% |