OGS vs WMB

For growth investors, ONE Gas, Inc.

(OGS) is the stronger pick with 16. 5% revenue growth year-over-year, versus 13. 8% for The Williams Companies, Inc. (WMB). ONE Gas, Inc. (OGS) offers the better valuation at 19. 7x trailing P/E (17. 9x forward), making it the more compelling value choice. Analysts rate The Williams Companies, Inc. (WMB) a "Buy" — based on 34 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. 7x versus The Williams Companies, Inc. at 34. 5x. On forward P/E, ONE Gas, Inc. is actually cheaper at 17. 9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: The Williams Companies, Inc. wins at 0. 48x versus ONE Gas, Inc. 's 5. 11x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, The Williams Companies, Inc.

(WMB) delivered a total return of +232. 0%, compared to +26. 5% for ONE Gas, Inc. (OGS). Over 10 years, the gap is even starker: WMB returned +357. 0% versus OGS's +79. 8%. 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 The Williams Companies, Inc. 's 0. 17β — meaning WMB is approximately -5419% 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 196% for The Williams Companies, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), ONE Gas, Inc.

(OGS) is pulling ahead at 16. 5% versus 13. 8% for The Williams Companies, Inc. (WMB). On earnings-per-share growth, the picture is similar: The Williams Companies, Inc. grew EPS 17. 6% year-over-year, compared to 12. 1% for ONE Gas, Inc.. Over a 3-year CAGR, WMB leads at 2. 9% 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.

The Williams Companies, Inc.

(WMB) is the more profitable company, earning 21. 9% net margin versus 10. 9% for ONE Gas, Inc. — meaning it keeps 21. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WMB leads at 36. 8% 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.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, The Williams Companies, Inc. (WMB) is the more undervalued stock at a PEG of 0. 48x versus ONE Gas, Inc. 's 5. 11x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, ONE Gas, Inc. (OGS) trades at 17. 9x forward P/E versus 31. 6x for The Williams Companies, Inc. — 13. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WMB: 7. 1% to $79. 00.

All stocks in this comparison pay dividends.

ONE Gas, Inc. (OGS) offers the highest yield at 3. 1%, versus 2. 7% for The Williams Companies, Inc. (WMB).

For long-horizon retirement investors, The Williams Companies, Inc.

(WMB) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 17), 2. 7% yield, +357. 0% 10Y return). Both have compounded well over 10 years (WMB: +357. 0%, OGS: +79. 8%), 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.

These companies operate in different sectors (OGS (Utilities) and WMB (Energy)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: OGS is a small-cap high-growth stock; WMB is a mid-cap quality compounder stock. 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.