Company / Operating Margin
ONE Gas Operating Margin History
FY2016-FY2022 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
13.6%
FY2022
5-year range
13.6% / 17.2%
FY2018-FY2022
Trend
-20.9%
vs FY2021
Sector context
#51 of 61
Utilities
What the data says
ONE Gas's operating margin of 13.6% is lower than 84% of companies in the Utilities sector (FY2022). Operating Margin has declined for 3 consecutive years, from 20.6% in FY2019 to 13.6% in FY2022.
Based on SEC 10-K filings.
13.6% in FY2022 with a 5-year CAGR of -7.0%.
Declined from 19.8% to 13.6% over the past 2 years.
Utilities sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -7.0pp
- 5-Year Change
- -7.0pp
- 10-Year Change
- -
Sector benchmark
Bottom 16% in UtilitiesTop 84% of 61This company 13.6% Sector average 21.7%
▼
-37.3% below sector average
Key checks
Key Insights
- ONE Gas's operating margin has declined for 3 consecutive years.
- In FY2022, operating margin decreased 20.9% year-over-year.
- Currently 8.1pp below the Utilities sector average.
- Peak operating margin was recorded in FY2017.
Company context
Key Data Points
- Altman Z-Score 0.38 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | - | - |
| FY2024 | - | - |
| FY2023 | - | - |
| FY2022 | 13.6% | -20.9% |
| FY2021 | 17.2% | -13.5% |
| FY2020 | 19.8% | -3.6% |
| FY2019 | 20.6% | +1.6% |
| FY2018 | 20.3% | -1.6% |
| FY2017 | 20.6% | +1.6% |
| FY2016 | 20.2% | - |
As of FY2022 · SEC 10-K · Updated Jun 30, 2026