ONE Gas, Inc.

ONE Gas, Inc. reported solid financial results for fiscal year 2025, with regulated operating revenue of $2.43 billion and net income of $264.2 million. The company generated operating income of $457.5 million, representing an operating margin of 18.8%. Key drivers included regulated operating revenue of $2.43 billion, cost of natural gas of $998.9 million, and total operating expenses of $971.0 million. The company maintained strong cash flow from operations of $578.8 million, though this was offset by significant capital expenditures of $707.2 million. The balance sheet shows total assets of $8.85 billion, with net property, plant and equipment of $7.12 billion representing the largest asset component. The company paid dividends of $3 per share and maintained a solid equity position of $3.44 billion. Forward-looking significance includes the company's continued investment in infrastructure with capital expenditures exceeding $700 million, which supports long-term growth in its regulated utility operations.

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