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The Market Fieldbook

Company Observatory

OGS

ONE Gas, Inc.

Utilities · Regulated Gas

Overall research band Weak
Quality Weak
Valuation Weak
Balance sheet Very weak
Market confirmation Weak

One-minute company read

What this report can tell you now

What the company does

ONE Gas, Inc. is a regulated natural gas utility headquartered in Tulsa, Oklahoma, operating through three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. The company provides natural gas distribution services to approximately 2.2 million customers, including residential, commercial, and transportation sector users across Oklahoma, Kansas, and Texas. Its infrastructure includes about 41,600 miles of distribution mains, 2,400 miles of transmission pipelines, and a storage capacity of 51.4 billion cubic feet. ONE Gas, Inc. generates revenue primarily by delivering natural gas to its diverse customer base.

The current research profile is Mixed Setup, with elevated leverage. This is a starting point for investigation, not a forecast or recommendation.

Strongest visible signal

No single strength should be treated as decisive without reviewing the underlying evidence and data status.

What to investigate next

Read the latest filing or company update, check the period behind the metrics, and investigate the dimension with the weakest band above.

Before you draw a conclusion

  • Read the latest filing or company update.
  • Check the financial period behind each metric.
  • Investigate the weakest score band and any missing evidence.

Headline fundamentals

A small set of signals worth checking

ROIC5.8%Model input; read with the evidence status and period context.
Operating margin20.1%Model input; read with the evidence status and period context.
Revenue CAGR · 4 years7.6%Model input; read with the evidence status and period context.
FCF margin-9.4%Model input; read with the evidence status and period context.

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Evidence detailSee exact inputs, source context, and model-aware metrics.
HistoryReview score and research changes over time.
MonitoringKeep the questions, risks, and changes that matter in view.

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