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ONE Gas

DB:OG9
Snowflake Description

Acceptable track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OG9
DB
$5B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

ONE Gas, Inc. operates as a regulated natural gas distribution utility company in the United States. The last earnings update was 61 days ago. More info.


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OG9 Share Price and Events
7 Day Returns
-1.9%
DB:OG9
-0.8%
Europe Gas Utilities
1.8%
DE Market
1 Year Returns
38.6%
DB:OG9
9.6%
Europe Gas Utilities
-6%
DE Market
OG9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ONE Gas (OG9) -1.9% -2.9% 3.8% 38.6% 48.2% 191.1%
Europe Gas Utilities -0.8% -0% 4.1% 9.6% 36.2% 29.1%
DE Market 1.8% 6% 7.8% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • OG9 outperformed the Gas Utilities industry which returned 9.6% over the past year.
  • OG9 outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
OG9
Industry
5yr Volatility vs Market

Value

 Is ONE Gas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ONE Gas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ONE Gas.

DB:OG9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:OG9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.37 (1 + (1- 21%) (34.8%))
0.646
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:OG9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for ONE Gas is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:OG9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5%)
2019 145.34 Est @ 59.14% 138.42
2020 205.60 Est @ 41.46% 186.50
2021 265.42 Est @ 29.09% 229.30
2022 319.65 Est @ 20.43% 263.02
2023 365.59 Est @ 14.37% 286.50
2024 402.62 Est @ 10.13% 300.51
2025 431.44 Est @ 7.16% 306.70
2026 453.35 Est @ 5.08% 306.94
2027 469.78 Est @ 3.62% 302.93
2028 482.02 Est @ 2.61% 296.03
Present value of next 10 years cash flows $2,616.86
DB:OG9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $482.02 × (1 + 0.23%) ÷ (5% – 0.23%)
$10,132.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $10,132.52 ÷ (1 + 5%)10
$6,222.86
DB:OG9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,616.86 + $6,222.86
$8,839.72
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $8,839.72 / 52.69
$167.78
DB:OG9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:OG9 represents 0.86887x of NYSE:OGS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86887x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 167.78 x 0.86887
€145.78
Value per share (EUR) From above. €145.78
Current discount Discount to share price of €74.81
= -1 x (€74.81 - €145.78) / €145.78
48.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price ONE Gas is available for.
Intrinsic value
49%
Share price is €74.81 vs Future cash flow value of €145.78
Current Discount Checks
For ONE Gas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ONE Gas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ONE Gas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ONE Gas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ONE Gas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:OG9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $3.27
NYSE:OGS Share Price ** NYSE (2019-04-18) in USD $86.1
Europe Gas Utilities Industry PE Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 17.84x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ONE Gas.

DB:OG9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:OGS Share Price ÷ EPS (both in USD)

= 86.1 ÷ 3.27

26.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ONE Gas is overvalued based on earnings compared to the Europe Gas Utilities industry average.
  • ONE Gas is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does ONE Gas's expected growth come at a high price?
Raw Data
DB:OG9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
5.7%per year
Global Gas Utilities Industry PEG Ratio Median Figure of 29 Publicly-Listed Gas Utilities Companies 2.44x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:OG9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.34x ÷ 5.7%

4.66x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ONE Gas is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ONE Gas's assets?
Raw Data
DB:OG9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $38.86
NYSE:OGS Share Price * NYSE (2019-04-18) in USD $86.1
Europe Gas Utilities Industry PB Ratio Median Figure of 9 Publicly-Listed Gas Utilities Companies 1.81x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:OG9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:OGS Share Price ÷ Book Value per Share (both in USD)

= 86.1 ÷ 38.86

2.22x

* Primary Listing of ONE Gas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ONE Gas is overvalued based on assets compared to the Europe Gas Utilities industry average.
X
Value checks
We assess ONE Gas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. ONE Gas has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is ONE Gas expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ONE Gas expected to grow at an attractive rate?
  • ONE Gas's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • ONE Gas's earnings growth is positive but not above the Germany market average.
  • ONE Gas's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:OG9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:OG9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 5.7%
DB:OG9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.1%
Europe Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 40%
Europe Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:OG9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:OG9 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,918 219 1
2021-12-31 1,682 458 204 4
2020-12-31 1,659 432 192 6
2019-12-31 1,615 408 183 6
DB:OG9 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,634 468 172
2018-09-30 1,632 388 175
2018-06-30 1,641 374 177
2018-03-31 1,628 315 177
2017-12-31 1,540 254 163
2017-09-30 1,518 303 158
2017-06-30 1,503 294 152
2017-03-31 1,469 264 152
2016-12-31 1,427 291 140
2016-09-30 1,376 335 137
2016-06-30 1,369 328 132
2016-03-31 1,380 342 123

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ONE Gas's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
  • ONE Gas's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:OG9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from ONE Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OG9 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 4.13 4.13 4.13 1.00
2021-12-31 3.85 3.90 3.81 4.00
2020-12-31 3.63 3.68 3.60 5.00
2019-12-31 3.45 3.50 3.42 5.00
DB:OG9 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 3.27
2018-09-30 3.32
2018-06-30 3.37
2018-03-31 3.38
2017-12-31 3.10
2017-09-30 3.01
2017-06-30 2.90
2017-03-31 2.89
2016-12-31 2.67
2016-09-30 2.61
2016-06-30 2.51
2016-03-31 2.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ONE Gas is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ONE Gas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ONE Gas has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has ONE Gas performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ONE Gas's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ONE Gas's year on year earnings growth rate has been positive over the past 5 years.
  • ONE Gas's 1-year earnings growth is less than its 5-year average (5.7% vs 13%)
  • ONE Gas's earnings growth has exceeded the Europe Gas Utilities industry average in the past year (5.7% vs 3.8%).
Earnings and Revenue History
ONE Gas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ONE Gas Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OG9 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,633.73 172.23 8.82
2018-09-30 1,631.66 174.65 -6.47
2018-06-30 1,640.52 177.17
2018-03-31 1,627.69 177.37
2017-12-31 1,539.63 163.00 17.25
2017-09-30 1,517.99 158.19 12.94
2017-06-30 1,503.04 152.13
2017-03-31 1,469.28 151.81
2016-12-31 1,427.23 140.10 19.83
2016-09-30 1,375.63 136.98
2016-06-30 1,368.66 131.62
2016-03-31 1,379.53 123.39
2015-12-31 1,547.69 119.03
2015-09-30 1,672.91 116.44
2015-06-30 1,689.21 113.72
2015-03-31 1,729.26 111.10
2014-12-31 1,818.91 109.79
2014-09-30 1,827.22 103.50
2014-06-30 1,805.43 99.28
2014-03-31 1,820.20 104.78
2013-12-31 1,689.95 99.20
2013-09-30 1,600.04 107.52
2013-06-30 1,585.24 109.41
2013-03-31 1,643.11 122.23
2012-12-31 1,376.65 96.51

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ONE Gas has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ONE Gas used its assets less efficiently than the Europe Gas Utilities industry average last year based on Return on Assets.
  • ONE Gas has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ONE Gas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ONE Gas has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is ONE Gas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up ONE Gas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ONE Gas's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • ONE Gas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of ONE Gas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ONE Gas Company Filings, last reported 3 months ago.

DB:OG9 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,042.66 1,584.98 21.32
2018-09-30 2,016.62 1,469.89 12.43
2018-06-30 2,022.34 1,378.68 12.58
2018-03-31 2,020.95 1,476.08 44.54
2017-12-31 1,960.21 1,550.47 14.41
2017-09-30 1,931.99 1,367.05 6.87
2017-06-30 1,933.30 1,271.85 5.11
2017-03-31 1,944.58 1,278.05 13.21
2016-12-31 1,888.28 1,337.45 14.66
2016-09-30 1,862.34 1,233.26 4.51
2016-06-30 1,875.59 1,192.06 54.26
2016-03-31 1,867.19 1,191.86 52.66
2015-12-31 1,841.56 1,204.17 2.43
2015-09-30 1,810.92 1,201.31 52.97
2015-06-30 1,818.89 1,201.32 135.89
2015-03-31 1,839.67 1,201.32 142.50
2014-12-31 1,794.04 1,243.32 11.94
2014-09-30 1,771.00 1,201.32 59.69
2014-06-30 1,780.09 1,201.32 161.33
2014-03-31 1,782.73 1,201.32 178.65
2013-12-31 1,239.02 1,473.92 3.17
2013-09-30 1,203.33 1,371.46 2.68
2013-06-30 1,210.75 1,237.45 3.79
2013-03-31 1,154.80 1,323.27 4.04
2012-12-31 1,154.80 1,323.27 4.04
  • ONE Gas's level of debt (77.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (118.1% vs 77.6% today).
  • Debt is well covered by operating cash flow (29.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess ONE Gas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. ONE Gas has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is ONE Gas's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.32%
Current annual income from ONE Gas dividends. Estimated to be 2.54% next year.
If you bought €2,000 of ONE Gas shares you are expected to receive €46 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ONE Gas's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • ONE Gas's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:OG9 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Europe Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:OG9 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.55 1.00
2021-12-31 2.34 4.00
2020-12-31 2.17 5.00
2019-12-31 2.00 5.00
DB:OG9 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-15 2.000 2.339
2018-10-29 1.840 2.256
2018-07-23 1.840 2.306
2018-04-30 1.840 2.505
2018-01-16 1.840 2.749
2017-10-30 1.680 2.238
2017-07-24 1.680 2.255
2017-05-01 1.680 2.397
2017-01-17 1.680 2.544
2016-10-31 1.400 2.272
2016-07-25 1.400 2.270
2016-05-02 1.400 2.256
2016-01-19 1.400 2.409
2015-07-20 1.200 2.586
2015-04-29 1.200 2.796
2015-01-20 1.200 2.815
2014-10-21 1.120 2.774
2014-07-21 1.120 3.096
2014-04-16 1.120 3.045

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, ONE Gas has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but ONE Gas only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of ONE Gas's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess ONE Gas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ONE Gas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ONE Gas has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of ONE Gas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pierce Norton
COMPENSATION $4,222,330
AGE 58
TENURE AS CEO 5.3 years
CEO Bio

Mr. Pierce H. Norton, II has been the Chief Executive Officer and President of ONE Gas, Inc. since January 31, 2014. Mr. Norton served as the Chief Operating Officer and Executive Vice President of TransCanada Northern Border Inc. since January 2012. He served as the President of Gathering & Processing Segment of Txok Energy Resources Company. He served as an Executive Vice President of Natural Gas of Viking Gas Transmission Company, a subsidiary of Oneok Partners L.P. Mr. Norton served as Executive Vice President of Commercial at ONEOK Inc. and Oneok Partners, L.P. from January 1, 2013 to January 31, 2014. He served as the Chief Operating Officer and Executive Vice President at ONEOK Inc. since February 2011 until January 1, 2013. He served as the Chief Operating Officer and Executive Vice President of ONEOK Partners, L.P., from January 1, 2012 to January 1, 2013. He served as Executive Vice President of ONEOK Inc., since May 2008 and also its President of Gathering & Processing Segment - Patnership since July 2007. He served as the President of ONEOK Distribution Companies, which includes Kansas Gas Service Company, Oklahoma Natural Gas Company and Texas Gas Service Company from July 2009 to March 2011 and also served as President of ONEOK Distribution since June 1, 2009. He served as the President of ONEOK Rockies Midstream, L.L.C. He served as an Executive Vice President of Natural Gas at ONEOK Inc. Mr. Norton also served as an Executive Vice President of Natural Gas Segments of Oneok Partners L.P since July 25, 2007. He began his natural gas industry career in 1982 at Delhi Gas Pipeline, a subsidiary of Texas Oil and Gas Corporation. He later worked for American Oil and Gas with operational responsibilities for natural gas gathering and processing, and for intrastate and interstate pipelines. Mr. Norton then worked for KN Energy as Vice President and General Manager of the Heartland Region. Mr. Norton served as President of gathering and processing of Oneok Partners L.P from April 2006 to July 2007. He served as President of Gathering and Processing Segment of ONEOK Inc. from January 24, 2006 to July 2007. He served as President of Bear Paw Energy Inc. (Bear Paw Energy LLC), a subsidiary of Northern Border Partners LP, since 2002. Mr. Norton served as Vice President and General Manager for midstream businesses for NBP Services Corp. since 2003. He served as Vice President and General Manager of Midstream of Oneok Inc. from February 1, 2005 to January 24, 2006. From 2001 to 2003, he served as Vice President of Business Development at Bear Paw. Prior to Northern Border Partners LP's purchase of Bear Paw, Mr. Norton served as Vice President of Business Development at Bear Paw Energy LLC and its predecessor from 1999 to 2001, where he was responsible for managing contracts and asset acquisitions. He has been Director of ONE Gas, Inc. since July 2013. He is Member of the American gas association’s board of directors and served as its 2017 Chairman. He serves as Board Member of the Tulsa community college foundation and serves as its Secretary and Treasurer. He currently serves as a board member of the Oklahoma Center for Community and Justice. He is a past board member of the Interstate natural gas association of America, the Texas pipeline association, the North Dakota petroleum council and the western energy alliance, formerly known as the independent petroleum association of mountain states. Mr. Norton holds a Bachelor of Science degree in Mechanical Engineering in 1982 from the University of Alabama in Tuscaloosa. He is also a graduate of the advanced management program at Harvard Business School.

CEO Compensation
  • Pierce's compensation has been consistent with company performance over the past year.
  • Pierce's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the ONE Gas management team in years:

3.4
Average Tenure
53.5
Average Age
  • The tenure for the ONE Gas management team is about average.
Management Team

Pierce Norton

TITLE
President
COMPENSATION
$4M
AGE
58
TENURE
5.3 yrs

Caron Lawhorn

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
56
TENURE
0.1 yrs

Sid McAnnally

TITLE
Senior Vice President of Operations
COMPENSATION
$1M
AGE
54
TENURE
4.1 yrs

Joe McCormick

TITLE
Senior VP
COMPENSATION
$1M
AGE
58
TENURE
5.3 yrs

Curtis Dinan

TITLE
Senior Vice President of Commercial
COMPENSATION
$1M
AGE
50
TENURE
0.2 yrs

Jeffrey Husen

TITLE
VP, Chief Accounting Officer & Controller
AGE
46
TENURE
0.8 yrs

Mark Bender

TITLE
Senior VP of Administration & Chief Information Officer
AGE
53
TENURE
3.4 yrs

Brandon Lohse

TITLE
Director of Investor Relations

Julie White

TITLE
Vice President of Communications
AGE
47

Brian Shore

TITLE
Corporate Secretary
Board of Directors Tenure

Average tenure and age of the ONE Gas board of directors in years:

5.3
Average Tenure
62
Average Age
  • The tenure for the ONE Gas board of directors is about average.
Board of Directors

John Gibson

TITLE
Non-Executive Chairman of the Board
COMPENSATION
$304K
AGE
66
TENURE
5.3 yrs

Pierce Norton

TITLE
President
COMPENSATION
$4M
AGE
58
TENURE
5.3 yrs

Hutch Hutchinson

TITLE
Independent Director
COMPENSATION
$210K
AGE
62
TENURE
5.3 yrs

Pattye Moore

TITLE
Independent Director
COMPENSATION
$215K
AGE
60
TENURE
5.3 yrs

Eduardo Rodriguez

TITLE
Lead Independent Director
COMPENSATION
$225K
AGE
62

Bobby Evans

TITLE
Independent Director
COMPENSATION
$195K
AGE
70
TENURE
5.3 yrs

Doug Yaeger

TITLE
Independent Director
COMPENSATION
$195K
AGE
69
TENURE
5.3 yrs

Arcilia Acosta

TITLE
Director
COMPENSATION
$163K
AGE
52
TENURE
0.8 yrs

Tracy Hart

TITLE
Director
COMPENSATION
$163K
AGE
56
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • ONE Gas insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
19. Mar 19 Sell Eduardo Rodriguez Individual 18. Mar 19 18. Mar 19 -500 €78.55 €-39,276
06. Sep 18 Buy Arcilia Acosta Individual 30. Aug 18 30. Aug 18 1,265 €67.78 €85,739
29. May 18 Buy Michael Hutchinson Individual 25. May 18 25. May 18 700 €62.71 €43,899
X
Management checks
We assess ONE Gas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. ONE Gas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

ONE Gas, Inc. operates as a regulated natural gas distribution utility company in the United States. The company operates in three divisions: Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Service. It provides natural gas distribution services to 2.2 million customers in three states. The company serves residential, commercial and industrial, transportation and wholesale, and public authority customers. As of December 31, 2018, it operated approximately 40,300 miles of distribution mains; and 2,600 miles of transmission pipelines, as well as had 48.4 billion cubic feet of natural gas storage capacity. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.

Details
Name: ONE Gas, Inc.
OG9
Exchange: DB
Founded: 1906
$4,045,063,598
52,686,558
Website: http://www.onegas.com
Address: ONE Gas, Inc.
15 East Fifth Street,
Tulsa,
Oklahoma, 74103,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE OGS Common Stock New York Stock Exchange US USD 16. Jan 2014
DB OG9 Common Stock Deutsche Boerse AG DE EUR 16. Jan 2014
Number of employees
Current staff
Staff numbers
3,500
ONE Gas employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 22:02
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.