One Gas Inc (OGS) - Net Assets
Based on the latest financial reports, One Gas Inc (OGS) has net assets worth $3.53 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.83 Billion) and total liabilities ($5.30 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check One Gas Inc tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $3.53 Billion |
| % of Total Assets | 39.95% |
| Annual Growth Rate | 8.08% |
| 5-Year Change | 46.42% |
| 10-Year Change | 82.18% |
| Growth Volatility | 10.6 |
One Gas Inc - Net Assets Trend (2011–2025)
This chart illustrates how One Gas Inc's net assets have evolved over time, based on quarterly financial data. See One Gas Inc (OGS) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for One Gas Inc (2011–2025)
The table below shows the annual net assets of One Gas Inc from 2011 to 2025. For live valuation and market cap data, see One Gas Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $3.44 Billion | +10.81% |
| 2024-12-31 | $3.10 Billion | +12.24% |
| 2023-12-31 | $2.77 Billion | +7.02% |
| 2022-12-31 | $2.58 Billion | +10.00% |
| 2021-12-31 | $2.35 Billion | +5.20% |
| 2020-12-31 | $2.23 Billion | +4.88% |
| 2019-12-31 | $2.13 Billion | +4.25% |
| 2018-12-31 | $2.04 Billion | +4.21% |
| 2017-12-31 | $1.96 Billion | +3.81% |
| 2016-12-31 | $1.89 Billion | +2.54% |
| 2015-12-31 | $1.84 Billion | +2.65% |
| 2014-12-31 | $1.79 Billion | +44.79% |
| 2013-12-31 | $1.24 Billion | +7.29% |
| 2012-12-31 | $1.15 Billion | -0.31% |
| 2011-12-31 | $1.16 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to One Gas Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 90935500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $909.36 Million | 26.43% |
| Common Stock | $627.00K | 0.02% |
| Other Comprehensive Income | $4.00K | 0.00% |
| Other Components | $2.53 Billion | 73.55% |
| Total Equity | $3.44 Billion | 100.00% |
One Gas Inc Competitors by Market Cap
The table below lists competitors of One Gas Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Moneta Money Bank AS
PR:MONET
|
$4.78 Billion |
|
CompoSecure, Inc.
NYSE:CMPO
|
$4.78 Billion |
|
Migdal Insurance
TA:MGDL
|
$4.78 Billion |
|
Hongta Securities Co Ltd
SHG:601236
|
$4.78 Billion |
|
Grupo Simec S.A.B. de C.V
MX:SIMECB
|
$4.77 Billion |
|
SKC Co. Ltd
KO:011790
|
$4.77 Billion |
|
Dyno Nobel Ltd
AU:DNL
|
$4.77 Billion |
|
Lancaster Colony Corporation
NASDAQ:LANC
|
$4.76 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in One Gas Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,104,548,000 to 3,440,123,000, a change of 335,575,000 (10.8%).
- Net income of 264,224,000 contributed positively to equity growth.
- Dividend payments of 160,705,000 reduced retained earnings.
- Share repurchases of 212,183,000 reduced equity.
- New share issuances of 212,183,000 increased equity.
- Other comprehensive income increased equity by 130,000.
- Other factors increased equity by 231,926,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $264.22 Million | +7.68% |
| Dividends Paid | $160.71 Million | -4.67% |
| Share Repurchases | $212.18 Million | -6.17% |
| Share Issuances | $212.18 Million | +6.17% |
| Other Comprehensive Income | $130.00K | +0.0% |
| Other Changes | $231.93 Million | +6.74% |
| Total Change | $- | 10.81% |
Book Value vs Market Value Analysis
This analysis compares One Gas Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.34x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.44x to 1.34x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | $22.13 | $76.05 | x |
| 2012-12-31 | $22.06 | $76.05 | x |
| 2013-12-31 | $24.01 | $76.05 | x |
| 2014-12-31 | $33.88 | $76.05 | x |
| 2015-12-31 | $34.58 | $76.05 | x |
| 2016-12-31 | $35.65 | $76.05 | x |
| 2017-12-31 | $37.00 | $76.05 | x |
| 2018-12-31 | $38.52 | $76.05 | x |
| 2019-12-31 | $40.00 | $76.05 | x |
| 2020-12-31 | $41.85 | $76.05 | x |
| 2021-12-31 | $43.77 | $76.05 | x |
| 2022-12-31 | $47.56 | $76.05 | x |
| 2023-12-31 | $49.51 | $76.05 | x |
| 2024-12-31 | $54.43 | $76.05 | x |
| 2025-12-31 | $56.85 | $76.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently One Gas Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.68%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.88%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 2.71x
- Recent ROE (7.68%) is below the historical average (7.92%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | 7.49% | 5.35% | 0.49x | 2.84x | $-29.08 Million |
| 2012 | 8.36% | 7.01% | 0.39x | 3.02x | $-18.97 Million |
| 2013 | 8.01% | 5.87% | 0.44x | 3.10x | $-24.71 Million |
| 2014 | 6.12% | 6.04% | 0.39x | 2.59x | $-69.61 Million |
| 2015 | 6.46% | 7.69% | 0.33x | 2.52x | $-65.13 Million |
| 2016 | 7.42% | 9.82% | 0.29x | 2.62x | $-48.73 Million |
| 2017 | 8.32% | 10.59% | 0.30x | 2.66x | $-33.03 Million |
| 2018 | 8.43% | 10.54% | 0.30x | 2.68x | $-32.03 Million |
| 2019 | 8.77% | 11.30% | 0.29x | 2.68x | $-26.19 Million |
| 2020 | 8.79% | 12.84% | 0.25x | 2.70x | $-26.92 Million |
| 2021 | 8.79% | 11.41% | 0.22x | 3.58x | $-28.52 Million |
| 2022 | 8.58% | 8.60% | 0.33x | 3.01x | $-36.70 Million |
| 2023 | 8.36% | 9.75% | 0.31x | 2.81x | $-45.36 Million |
| 2024 | 7.18% | 10.70% | 0.25x | 2.71x | $-87.60 Million |
| 2025 | 7.68% | 10.88% | 0.26x | 2.71x | $-79.79 Million |
Industry Comparison
This section compares One Gas Inc's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $1,751,111,272
- Average return on equity (ROE) among peers: 8.33%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| One Gas Inc (OGS) | $3.53 Billion | 7.49% | 1.50x | $4.77 Billion |
| Atmos Energy Corporation (ATO) | $158.30 Million | 18.19% | 1.82x | $28.32 Billion |
| Brookfield Infrastructure Corp (BIPC) | $5.34 Billion | 4.02% | 0.87x | $4.83 Billion |
| Black Hills Corporation (BKH) | $1.31 Billion | 8.98% | 1.96x | $5.48 Billion |
| Chesapeake Utilities Corporation (CPK) | $77.96 Million | 12.09% | 2.10x | $2.88 Billion |
| Centuri Holdings, Inc. (CTRI) | $560.22 Million | -1.20% | 2.70x | $2.85 Billion |
| MDU Resources Group Inc (MDU) | $1.30 Billion | 11.42% | 1.26x | $4.37 Billion |
| NiSource Inc (NI) | $5.84 Billion | -0.30% | 2.78x | $22.21 Billion |
| NewJersey Resources Corporation (NJR) | $328.53 Million | 14.85% | 2.31x | $5.54 Billion |
| Northwest Natural Gas Co (NWN) | $850.50 Million | 6.92% | 2.62x | $2.06 Billion |
About One Gas Inc
ONE Gas, Inc., together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company offers natural gas distribution services. As of December 31, 2025, it owned 43,200 miles of distribution pipelines and 2,200 miles of transmission pipelines. The company serves approximately 2.3 million residential, commercial, industrial, transportatio… Read more