ONE Gas, Inc.(OGS)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
OGS Stock Analysis & AI Quality Score
AI stock analysis and institutional research for ONE Gas, Inc. (OGS), a Energy sector company. OGS is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), ONE Gas, Inc. reports net income of $128.7M, free cash flow of $19.8M. Top institutional holders of OGS by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, AMERICAN CENTURY COMPANIES, based on the most recent SEC filings. OGS trades on the NYSE exchange and files with the SEC under CIK 1587732. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate OGS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for ONE Gas, Inc. directly from SEC EDGAR. ONE Gas, Inc.'s 13F Pro composite quality score has ranged between 34 and 38 since 2023, currently 35.9 — a stable long-term trajectory across 8 quarterly and live scoring snapshots.
Net Income
Q1 2026
$128.7M
Free Cash Flow
Q1 2026
$19.8M
ROIC
Q1 2026
3.1%
D/E Ratio
Q1 2026
0.81
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
Net Income
+18.6% YoYOperating Income
+14.7% YoYEPS (Diluted)
+11.8% YoYTotal Assets
+5.1% YoYTotal Debt
+19.5% YoYOp. Cash Flow
+57.1% YoY| Metric | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $2.58B +42.5% | $1.81B +18.2% | $1.53B -6.3% | $1.63B |
| Net Income | $264.2M +18.6% | $222.8M +0.5% | $221.7M +7.4% | $206.4M +5.1% | $196.4M +14.0% | $172.2M |
| Operating Income | $457.5M +14.7% | $398.9M +14.0% | $350.0M +12.8% | $310.3M +2.2% | $303.5M +5.2% | $288.4M |
| EPS (Diluted) | $4.37 +11.8% | $3.91 -4.2% | $4.08 +6.0% | $3.85 +4.6% | $3.68 +13.2% | $3.25 |
| Total Assets | $8.85B +5.1% | $8.43B +8.3% | $7.78B -7.4% | $8.40B +39.4% | $6.03B +10.2% | $5.47B |
| Total Debt | $2.89B +19.5% | $2.41B -10.6% | $2.70B -27.0% | $3.70B +131.3% | $1.60B +23.1% | $1.30B |
| Operating Cash Flow | $578.8M +57.1% | $368.4M -76.5% | $1.57B +202.3% | $-1.54B -521.3% | $364.5M -22.1% | $467.7M |
AI Insight: OGS Financial Trends
ONE Gas Q1 2026 net income hit $129M — matching its best quarterly result in the dataset — while debt stabilized near $2.87B after a sharp H2 2025 surge.
• Net income recovered to $129M in Q1 2026, matching Q2 2024's $127M peak after troughing at $26M in Q3 2025.
• Operating income rebounded to $190M in Q1 2026 from a low of $65M in Q3 2025, reflecting typical seasonal gas-utility demand patterns.
• Equity grew steadily from $2,813M in Q3 2024 to $3,526M in Q1 2026, strengthening the balance sheet over six quarters.
• Total debt jumped from $2,414M in Q4 2024 to $2,885M in Q3 2025 — a $471M increase in two quarters — before plateauing near $2,871M in Q1 2026.
⚠ Operating cash flow collapsed to $43M in Q4 2025 from $277M in Q1 2025 — the weakest reading in the dataset — warranting close monitoring.
⚠ Debt-to-equity ratio rose to roughly 0.81x in Q3–Q4 2025 from 0.78x in Q4 2024; any further debt issuance could pressure leverage metrics.
⚠ Whether the Q1 2026 operating cash flow recovery to $176M is sustained through Q2–Q3 2026 will signal if the Q4 2025 cash trough was seasonal or structural.
AI Insight: OGS Ratio Trends
Return metrics have eroded materially over the past year, with ROIC sliding from 17.3% in Q2 2024 to 11.8% in Q1 2026.
• ROIC fell from 17.3% in Q2 2024 to 11.8% in Q1 2026, a 550bp decline over five quarters.
• ROE dropped from 17.9% in Q2 2024 to 14.6% in Q1 2026, with a trough of 3.3% in Q3 2025.
• D/E ratio rose from 0.75 in Q1 2025 to 0.91 in Q3 2025, partially retreating to 0.81 in Q1 2026.
• Q1 2026 ROE of 14.6% and ROA of 5.8% represent seasonal recovery, consistent with Q1 2025 seasonal strength.
⚠ TTM ROIC of 7.3% versus Q2 2024's 17.3% signals sustained full-year return compression, not just seasonal noise.
⚠ D/E spiked to 0.91 in Q3 2025 — highest in the dataset — monitor whether leverage stabilizes below 0.85.
⚠ Mid-year quarters (Q2–Q3) show consistently weak returns; watch whether Q2 2026 trough deepens further.
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Available Research
13F Pro tracks comprehensive data for ONE Gas, Inc. including:
Top Institutional Holders of OGS
BlackRock, Inc.
$785.1M9,115,076 shVANGUARD PORTFOLIO MANAGEMENT LLC
$309.2M3,589,993 shAMERICAN CENTURY COMPANIES INC
$290.7M3,375,393 shSTATE STREET CORP
$261.6M3,036,885 shVANGUARD CAPITAL MANAGEMENT LLC
$239.1M2,776,005 shWELLINGTON MANAGEMENT GROUP LLP
$224.4M2,605,303 shGEODE CAPITAL MANAGEMENT, LLC
$136.2M1,580,865 shALLIANCEBERNSTEIN L.P.
$117.1M1,515,835 shEnergy Income Partners, LLC
$114.6M1,331,076 shEARNEST PARTNERS LLC
$99.3M1,153,128 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $785.1M | 9,115,076 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $309.2M | 3,589,993 |
| AMERICAN CENTURY COMPANIES INC | $290.7M | 3,375,393 |
| STATE STREET CORP | $261.6M | 3,036,885 |
| VANGUARD CAPITAL MANAGEMENT LLC | $239.1M | 2,776,005 |
| WELLINGTON MANAGEMENT GROUP LLP | $224.4M | 2,605,303 |
| GEODE CAPITAL MANAGEMENT, LLC | $136.2M | 1,580,865 |
| ALLIANCEBERNSTEIN L.P. | $117.1M | 1,515,835 |
| Energy Income Partners, LLC | $114.6M | 1,331,076 |
| EARNEST PARTNERS LLC | $99.3M | 1,153,128 |
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Popular Research
Is OGS a good stock to buy?
13F Pro's AI-powered analysis of ONE Gas, Inc. (OGS) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for OGS are available on the OGS stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own OGS?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling OGS. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of ONE Gas, Inc.'s investment landscape.