“Our stable cash flow and earnings profile is due to the significant residential component of our customer base, the fixed-charge component of our natural gas sales revenues, and the rate mechanisms that we have in place.”10-Q · May 5, 2026 ↗
ONE Gas, Inc.
OGS
Market read
ONE Gas, Inc.'s move is being confirmed by its market group.
OGS accounts for 24.9% of the group's measured movement across 3.6 effective names. raw member direction is mixed; 6 of 7 session-normalized paths align to the downside. Capital-flow agreement is 6%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Is this move genuinely shared?
SUN moved materially before OGS. OGS crossed its material path threshold at 15:35 ET. MNR, NWN, SR followed.
5 of 7 members in Natural Gas Exposure are active. 0 of 2 disclosed connections are confirming.
- At least 5 of 7 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as SWX begins moving with the group.
Invalidation: The live read weakens if participation falls to 2 of 7 members or fewer.
Research brief
The story so far
OGS accounts for 24.9% of the group's measured movement across 3.6 effective names. raw member direction is mixed; 6 of 7 session-normalized paths align to the downside. Capital-flow agreement is 6%, so confirmation is not yet clean. No verified headline preceded the measured group move.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- At least 5 of 7 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as SWX begins moving with the group.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +42.5% year over year.
- Operating cash flow covered net income at 7.08x in the latest annual period.
- Operating margin changed -3.6 percentage points in the latest annual period.
- Net margin changed -2.8 percentage points in the latest annual period.
- EV/sales is 29% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
78.19Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“These adjustments, net of applicable tax effects, are expected to recur as a result of the Company’s regulatory framework and are a consistent part of our earnings profile.”10-Q · May 5, 2026 ↗
“Our stable cash flow and earnings profile is due to the significant residential component of our customer base, the fixed-charge component of our natural gas sales revenues, and the rate mechanisms that we have in place.”10-Q · May 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.6× · EV/sales 2.7×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for OGS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for OGS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind OGS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
OKEONEOK, Inc.supplierFeb 19, 2026 ▾
“We are the successor to the company founded in 1906 as Oklahoma Natural Gas Company, which became ONEOK, Inc.”
TRGPTarga Resources Corp.partnerFeb 19, 2026 ▾
“Gregory 55 2025 to present Senior Vice President, General Counsel and Assistant Secretary 2020 to 2024 Executive Vice President, General Counsel and Corporate Secretary, Targa Resources Corp.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
OGS is currently a Early Follower in the organic co-movement group Natural Gas Exposure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.