NI vs OGS

For growth investors, NiSource Inc.

(NI) is the stronger pick with 21. 8% revenue growth year-over-year, versus 16. 5% for ONE Gas, Inc. (OGS). ONE Gas, Inc. (OGS) offers the better valuation at 19. 5x trailing P/E (17. 7x forward), making it the more compelling value choice. Analysts rate NiSource Inc. (NI) a "Buy" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, ONE Gas, Inc.

(OGS) is the cheapest at 19. 5x versus NiSource Inc. at 24. 1x. On forward P/E, ONE Gas, Inc. is actually cheaper at 17. 7x.

Over the past 5 years, NiSource Inc.

(NI) delivered a total return of +100. 8%, compared to +25. 2% for ONE Gas, Inc. (OGS). Over 10 years, the gap is even starker: NI returned +137. 6% versus OGS's +76. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), ONE Gas, Inc.

(OGS) is the lower-risk stock at -0. 00β versus NiSource Inc. 's 0. 22β — meaning NI is approximately -6888% more volatile than OGS relative to the S&P 500. On balance sheet safety, ONE Gas, Inc. (OGS) carries a lower debt/equity ratio of 99% versus 139% for NiSource Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), NiSource Inc.

(NI) is pulling ahead at 21. 8% versus 16. 5% for ONE Gas, Inc. (OGS). On earnings-per-share growth, the picture is similar: NiSource Inc. grew EPS 20. 4% year-over-year, compared to 12. 1% for ONE Gas, Inc.. Over a 3-year CAGR, NI leads at 4. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

NiSource Inc.

(NI) is the more profitable company, earning 14. 0% net margin versus 10. 9% for ONE Gas, Inc. — meaning it keeps 14. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NI leads at 27. 6% versus 18. 8% for OGS. At the gross margin level — before operating expenses — OGS leads at 58. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, ONE Gas, Inc.

(OGS) trades at 17. 7x forward P/E versus 22. 9x for NiSource Inc. — 5. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NI: 5. 9% to $49. 80.

All stocks in this comparison pay dividends.

ONE Gas, Inc. (OGS) offers the highest yield at 3. 1%, versus 2. 4% for NiSource Inc. (NI).

For long-horizon retirement investors, ONE Gas, Inc.

(OGS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 00), 3. 1% yield). Both have compounded well over 10 years (OGS: +76. 9%, NI: +137. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.