ONE Gas (OGS) Net Margin (2017 - 2026)
ONE Gas (OGS) reported 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 10 years of Net Margin data on file, last reported at 15.47% in Q1 2026.
- Net Margin for Q1 2026 came in at 15.47%, up 270.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 11.77% (up 102.0% YoY), and the FY2025 annual result was 10.88%, up 19.0% from the prior year.
- Net Margin advanced to 15.47% in Q1 2026 per OGS's latest filing, from 12.52% in the prior quarter.
- Over five years, Net Margin peaked at 15.47% in Q1 2026 and troughed at 5.66% in Q3 2024.
- A 5-year average of 9.63% and a median of 8.21% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2022 and 2023: Net Margin sank 510 bps in 2022, then jumped 348 bps in 2023.
- A 5-year view of Net Margin shows it stood at 8.19% in 2022, then surged by 42 bps to 11.67% in 2023, then rose by 5 bps to 12.21% in 2024, then rose by 3 bps to 12.52% in 2025, then gained 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 | 28.34 Bn | 28.21 Bn | - | 29.65% |
| 2 | Nisource | 22.33 Bn | 24.52 Bn | 1.83 Bn | 21.99% |
| 3 | Ugi | 7.49 Bn | 6.94 Bn | 1.50 Bn | 19.37% |
| 4 | New Jersey Resources | 5.59 Bn | 5.45 Bn | 826.91 Mn | 23.01% |
| 5 | Black Hills | 5.49 Bn | 5.46 Bn | - | 17.05% |
| 6 | ONE Gas | 4.93 Bn | 4.91 Bn | 438.14 Mn | 15.47% |
| 7 | Mdu Resources | 4.39 Bn | 4.33 Bn | - | -0.02% |
| 8 | Centuri Holdings | 3.01 Bn | 2.95 Bn | 35.76 Mn | -1.31% |
| 9 | Chesapeake Utilities | 2.96 Bn | 2.96 Bn | 102.40 Mn | 23.79% |
| 10 | Brookfield Infrastructure | 426.14 Mn | 3.22 Bn | 539.00 Mn | -12.67% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 9.53% |