ONE GasFRA:OG9 79 PB Ratio is 1.40 as of Jun. 27, 2026, which is 20% below its 10-year median of 1.75. GuruFocus rates FRA:OG9 with a GF Score™ of 79/100 and a GF Value™ of €62.01. The stock has 4 warning signs investors should review. Among 502 Utilities - Regulated companies, ONE Gas ranks better than 51.2% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-27), ONE Gas's share price is €68.00. ONE Gas's Book Value per Share for the quarter that ended in Mar. 2026 was €48.59. Hence, ONE Gas's PB Ratio of today is 1.40.
The historical rank and industry rank for ONE Gas's PB Ratio or its related term are showing as below:
FRA:OG9'
s PB Ratio Range Over the Past 10 Years
Min: 1.2 Med: 1.75 Max: 2.4
Current: 1.42
During the past 13 years, ONE Gas's highest PB Ratio was 2.40. The lowest was 1.20. And the median was 1.75.
FRA:OG9's PB Ratio is ranked better than 51.2% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.42
vs FRA:OG9: 1.42
During the past 12 months, ONE Gas's average Book Value Per Share Growth Rate was 5.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 5.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 5.50% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of ONE Gas was 16.30% per year. The lowest was 2.80% per year. And the median was 5.10% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
ONE Gas PB Ratio Related Terms
ONE Gas PB Ratio Historical Data
* Premium members only.
The historical data trend for ONE Gas's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, ONE Gas's PB Ratio distribution charts can be found below:
* The bar in red indicates where ONE Gas's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
ONE Gas's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
ONE Gas (FRA:OG9) has a PB Ratio of 1.40 as of Jun. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on ONE Gas and its competitors. This is 20% below median its historical median of 1.75. Over the past decade, ONE Gas' PB Ratio has ranged from 1.20 to 2.40. According to the industry distribution chart, ONE Gas ranks #245 out of 502 companies in the Utilities - Regulated industry, placing it in the top 48.8%.
Is ONE Gas' PB Ratio too high?
ONE Gas' current PB Ratio of 1.40 is 20% below median its 10-year median of 1.75. Over the past 10 years, this metric has ranged from a low of 1.20 to a high of 2.40. The Utilities - Regulated industry median PB Ratio is 1.42. ONE Gas' value of 1.40 is 1.4% below this industry median. Based on the distribution chart, ONE Gas ranks #245 out of 502 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, ONE Gas has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does ONE Gas' PB Ratio compare to SR and MDU?
According to the Utilities - Regulated industry distribution chart, ONE Gas ranks #245 out of 502 companies for PB Ratio. This puts ONE Gas in the upper half of its industry. The industry median PB Ratio is 1.42. ONE Gas' value of 1.40 is 1.4% below this benchmark. Historically, ONE Gas' own PB Ratio has ranged from 1.20 to 2.40 over the past decade. While the company's 10-year median is 1.75 vs. the industry median of 1.42, ONE Gas has consistently been below 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 PB Ratio for an Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.42, based on 502 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ONE Gas's current PB Ratio of 1.40 is 1.4% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on ONE Gas and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ONE Gas's current PB Ratio is 1.40, which is 20% below median its own 10-year median of 1.75. 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?
ONE Gas (FRA:OG9) has a current PB Ratio of 1.40. The stock's GF Value™ is €62.01, compared to a current price of €68.00 — trading 9.7% above its estimated fair value. The current PB Ratio is 1.40, which is 20% below median its 10-year median of 1.75 and 1.4% below the Utilities - Regulated industry median of 1.42. ONE Gas' overall GF Score™ is 79/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For ONE Gas (FRA:OG9), the current PB Ratio is 1.40 as of Jun. 27, 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 (FRA:OG9) Overvalued in 2026?
Based on GuruFocus' analysis, ONE Gas stock appears to be overvalued.
The current stock price of €68.00 is trading 9.7% above its estimated GF Value™ of €62.01.
Key valuation signals for FRA:OG9:
PB Ratio: 1.40 (20% below median its 10-year median of 1.75)
GF Value™: €62.01 vs. price of €68.00 (9.7% above fair value)
Industry Position: 1.4% below the Utilities - Regulated median (#245 of 502)
No single metric tells the full story. See the FRA:OG9 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.
79GF Score
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