ONE Gas, Inc. (OGS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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OGS Revenue Growth
OGS Revenue Analysis (2014–2025)
As of May 8, 2026, ONE Gas, Inc. (OGS) generated trailing twelve-month (TTM) revenue of $2.32 billion, reflecting significant decline in growth of -11.1% year-over-year. The most recent quarter (Q1 2026) recorded $831.7 million in revenue, up 20.6% sequentially.
Looking at the longer-term picture, OGS's 5-year compound annual growth rate (CAGR) stands at +9.7%, indicating steady revenue expansion. The company achieved its highest annual revenue of $2.58 billion in 2022.
When compared to Utilities sector peers including SR (+1.9% YoY), NJR (+8.5% YoY), and SWX (-39.1% YoY), OGS has underperformed the peer group in terms of revenue growth. Compare OGS vs SR →
OGS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| OGSCurrent | $2.3B | -11.1% | +9.7% | 18.8% | |
 SR | $2.5B | +1.9% | +5.9% | 21.2% | |
 NJR | $2.0B | +8.5% | +0.8% | 21.4% | |
 SWX | $1.9B | -39.1% | -10.1% | 24.4% | |
 NWN | $1.3B | +5.9% | +10.8% | 31.4% | |
 RGCO | $95M | +17.5% | +6.8% | 19.4% |
OGS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.43B | +16.5% | $1.43B | 58.8% | $457.5M | 18.8% |
| 2024 | $2.08B | -12.2% | $775.1M | 37.2% | $399.0M | 19.2% |
| 2023 | $2.37B | -8.0% | $729.1M | 30.7% | $377.6M | 15.9% |
| 2022 | $2.58B | +42.5% | $646.7M | 25.1% | $350.0M | 13.6% |
| 2021 | $1.81B | +18.2% | $583.9M | 32.3% | $310.3M | 17.2% |
| 2020 | $1.53B | -7.4% | $561.7M | 36.7% | $303.5M | 19.8% |
| 2019 | $1.65B | +1.2% | $535.6M | 32.4% | $295.3M | 17.9% |
| 2018 | $1.63B | +6.1% | $507.4M | 31.1% | $288.4M | 17.7% |
| 2017 | $1.54B | +7.9% | $525.8M | 34.2% | $316.7M | 20.6% |
| 2016 | $1.43B | -7.8% | $488.1M | 34.2% | $288.9M | 20.2% |
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Start ComparisonOGS — Frequently Asked Questions
Quick answers to the most common questions about buying OGS stock.
Is OGS's revenue growth accelerating or slowing?
OGS revenue declined -11.1% year-over-year, contrasting with the 5-year CAGR of +9.7%. TTM revenue fell to $2.3B. This reverses the prior growth trend.
What is OGS's long-term revenue growth rate?
ONE Gas, Inc.'s 5-year revenue CAGR of +9.7% reflects the variable expansion pattern. Current YoY growth of -11.1% is below this long-term average.
How is OGS's revenue distributed by segment?
OGS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.