ONE Gas (OGS) Operating Margin (2017 - 2026)
ONE Gas (OGS) recorded Operating Margin of 20.08% in Q2 2026, up 3.13 percentage points from 16.96% a year earlier but down 2.71 percentage points from the prior quarter.
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Analysis
ONE Gas (OGS) Operating Margin (2017 - 2026) Analysis & Trends
On a TTM basis, ONE Gas' Operating Margin came in at 20.65% as of Jun 30, 2026, up 1.93 percentage points year-over-year; for FY2025, it came in at 18.85%, down 0.30 percentage points from FY2024.
- Annual Operating Margin has a five-year change of -0.99 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 19.15% in FY2024 (+3.23 pp), 15.92% in FY2023 (+2.34 pp), 13.57% in FY2022 (-3.58 pp) and 17.15% in FY2021 (-2.68 pp).
- Quarterly Operating Margin has ranged from 12.66% in Q4 2022 to 22.80% in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Margin has increased for three consecutive quarters, with an average year-over-year change of +0.86 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 5.02 percentage points in Q4 2023, against a drop of 6.36 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.80% (Q1 2026), 20.27% (Q4 2025) and 17.25% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 293.96 Bn | 293.96 Bn | 890.00 Mn | 30.20% |
| 2 | National Grid | 78.23 Bn | 59.76 Bn | - | - |
| 3 | Dominion Energy | 53.03 Bn | 55.71 Bn | - | 7.34% |
| 4 | Xcel Energy | 43.33 Bn | 38.23 Bn | - | 22.64% |
| 5 | Wec Energy | 33.06 Bn | 33.29 Bn | 1.51 Bn | 20.99% |
| 6 | Ameren | 27.51 Bn | 27.60 Bn | - | 21.94% |
| 7 | Fortis | 26.94 Bn | 27.43 Bn | 1.60 Bn | 27.43% |
| 8 | Atmos Energy | 26.53 Bn | 25.30 Bn | 870.85 Mn | 36.45% |
| 9 | American Water Works Company | 25.62 Bn | 25.03 Bn | - | 40.00% |
| 10 | ONE Gas | 4.50 Bn | 4.39 Bn | 321.35 Mn | 20.08% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.08% |
| Mar 31, 2026 | 22.80% |
| Dec 31, 2025 | 20.27% |
| Sep 30, 2025 | 17.25% |
| Jun 30, 2025 | 16.96% |
| Mar 31, 2025 | 19.30% |
| Dec 31, 2024 | 19.71% |
| Sep 30, 2024 | 17.46% |
| Jun 30, 2024 | 19.56% |
| Mar 31, 2024 | 19.23% |
| Dec 31, 2023 | 17.68% |
| Sep 30, 2023 | 17.03% |
| Jun 30, 2023 | 16.08% |
| Mar 31, 2023 | 14.46% |
| Dec 31, 2022 | 12.66% |
| Sep 30, 2022 | 13.09% |
| Jun 30, 2022 | 13.65% |
| Mar 31, 2022 | 14.49% |
| Dec 31, 2021 | 14.65% |
| Sep 30, 2021 | 15.26% |
API Access
ONE Gas Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=OGS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "OGS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=OGS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();