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ONE GasOGS +0.75%76 Gross Margin % is 44.15% as of Jun. 2026, which is 33% above its 10-year median of 33.28. GuruFocus rates OGS with a GF Score™ of 76/100 and a GF Value™ of $72.73 (Fairly Valued). The stock has 4 warning signs investors should review. Among 489 Utilities - Regulated companies, ONE Gas ranks better than 64.01% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. ONE Gas's Gross Profit for the
three
months ended in Jun. 2026 was $182 Mil. ONE Gas's Revenue for the
three
months ended in Jun. 2026 was $412 Mil. Therefore, ONE Gas's Gross Margin % for the quarter that ended in Jun. 2026 was 44.15%.
The historical rank and industry rank for ONE Gas's Gross Margin % or its related term are showing as below:
OGS'
s Gross Margin % Range Over the Past 10 Years
Min: 25.08 Med: 33.28 Max: 38.09
Current: 38.09
During the past 13 years, the highestGross Margin % of ONE Gas was 38.09%. The lowest was 25.08%. And the median was 33.28%.
OGS's Gross Margin % is ranked better than 64.01% of 489
companies
in the Utilities - Regulated industry
Industry Median: 30.47
vs OGS: 38.09
ONE Gas had a gross margin of 44.15% for the quarter that ended in Jun. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for ONE Gas was 1.50% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
ONE Gas had a gross margin of 44.15% for the quarter that ended in Jun. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
ONE Gas Gross Margin % Related Terms
ONE Gas Gross Margin % Historical Data
* Premium members only.
The historical data trend for ONE Gas's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, ONE Gas's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ONE Gas Gross Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, ONE Gas's Gross Margin % distribution charts can be found below:
* The bar in red indicates where ONE Gas's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
ONE Gas (OGS) has a Gross Margin % of 44.15% as of Jun. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on ONE Gas and its competitors. This is 33% above median its historical median of 33.28. Over the past decade, ONE Gas' Gross Margin % has ranged from 25.08 to 38.09. According to the industry distribution chart, ONE Gas ranks #176 out of 489 companies in the Utilities - Regulated industry, placing it in the top 36%.
Is ONE Gas' Gross Margin % too high?
ONE Gas' current Gross Margin % of 44.15% is 33% above median its 10-year median of 33.28. Over the past 10 years, this metric has ranged from a low of 25.08 to a high of 38.09. The Utilities - Regulated industry median Gross Margin % is 30.47. ONE Gas' value of 44.15% is 44.9% above this industry median. Based on the distribution chart, ONE Gas ranks #176 out of 489 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, ONE Gas has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ONE Gas' Gross Margin % compare to SR and MDU?
According to the Utilities - Regulated industry distribution chart, ONE Gas ranks #176 out of 489 companies for Gross Margin %. This puts ONE Gas in the upper half of its industry. The industry median Gross Margin % is 30.47. ONE Gas' value of 44.15% is 44.9% above this benchmark. Historically, ONE Gas' own Gross Margin % has ranged from 25.08 to 38.09 over the past decade. While the company's 10-year median is 33.28 vs. the industry median of 30.47, ONE Gas has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Utilities - Regulated company?
The median Gross Margin % among Utilities - Regulated companies is 30.47, based on 489 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ONE Gas's current Gross Margin % of 44.15% is 44.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on ONE Gas and its competitors. For the Utilities - Regulated industry, the median Gross Margin % is 30.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ONE Gas's current Gross Margin % is 44.15%, which is 33% above median its own 10-year median of 33.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ONE Gas stock overvalued right now?
Based on GuruFocus' analysis, ONE Gas (OGS) is currently considered Fairly Valued. The stock's GF Value™ is $72.73, compared to a current price of $80.22 — trading 10.3% above its estimated fair value. The current Gross Margin % is 44.15%, which is 33% above median its 10-year median of 33.28 and 44.9% above the Utilities - Regulated industry median of 30.47. ONE Gas' overall GF Score™ is 76/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For ONE Gas (OGS), the current Gross Margin % is 44.15% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ONE Gas (OGS) Overvalued in 2026?
Based on GuruFocus' analysis, ONE Gas stock appears to be overvalued.
The current stock price of $80.22 is trading 10.3% above its estimated GF Value™ of $72.73.
GuruFocus considers ONE Gas to be Fairly Valued.
Key valuation signals for OGS:
Gross Margin %: 44.15% (33% above median its 10-year median of 33.28)
GF Value™: $72.73 vs. price of $80.22 (10.3% above fair value)
Industry Position: 44.9% above the Utilities - Regulated median (#176 of 489)
No single metric tells the full story. See the OGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ONE Gas Inc is a regulated natural gas utility company. It is involved in the distribution and sale of natural gas to residential, commercial, industrial, and transportation consumers through its network of pipelines and service lines. Almost all of the company's revenue is derived from natural gas sales in the states of Oklahoma, Kansas, and Texas. It operates in one reportable business segment: regulated public utilities that deliver natural gas to residential, commercial, and transportation customers.
76GF Score
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