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ONE Gas Valuation Multiples
Discover revenue and EBITDA valuation multiples for ONE Gas and similar public comparables like Kodiak Gas Services, Kurita Water, New Jersey Resources, Ampol and more.
ONE Gas Overview
About ONE Gas
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.
Founded
2013
HQ
Employees
4.0K
Website
Sectors
Financials (LTM)
EV
$9B
ONE Gas Financials
ONE Gas reported last 12-month revenue of $3B and EBITDA of $775M.
In the same LTM period, ONE Gas generated $1B in gross profit, $775M in EBITDA, and $282M in net income.
Revenue (LTM)
ONE Gas P&L
In the most recent fiscal year, ONE Gas reported revenue of $2B and EBITDA of $782M.
ONE Gas expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $2B | XXX | XXX | XXX |
| Gross Profit | $1B | XXX | $870M | XXX | XXX | XXX |
| Gross Margin | 59% | XXX | 36% | XXX | XXX | XXX |
| EBITDA | $775M | XXX | $782M | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 32% | XXX | XXX | XXX |
| EBIT Margin | 19% | XXX | 19% | XXX | XXX | XXX |
| Net Profit | $282M | XXX | $264M | XXX | XXX | XXX |
| Net Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| Net Debt | — | — | $3B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
ONE Gas Stock Performance
ONE Gas has current market cap of $6B, and enterprise value of $9B.
Market Cap Evolution
ONE Gas' stock price is $88.96.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $9B | $6B | 0.0% | XXX | XXX | XXX | $4.21 |
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Start Free TrialONE Gas Valuation Multiples
ONE Gas trades at 3.6x EV/Revenue multiple, and 11.5x EV/EBITDA.
EV / Revenue (LTM)
ONE Gas Financial Valuation Multiples
As of April 20, 2026, ONE Gas has market cap of $6B and EV of $9B.
Equity research analysts estimate ONE Gas' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ONE Gas has a P/E ratio of 19.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6B | XXX | $6B | XXX | XXX | XXX |
| EV (current) | $9B | XXX | $9B | XXX | XXX | XXX |
| EV/Revenue | 3.6x | XXX | 3.7x | XXX | XXX | XXX |
| EV/EBITDA | 11.5x | XXX | 11.4x | XXX | XXX | XXX |
| EV/EBIT | 18.8x | XXX | 19.5x | XXX | XXX | XXX |
| EV/Gross Profit | 6.0x | XXX | 10.3x | XXX | XXX | XXX |
| P/E | 19.8x | XXX | 21.1x | XXX | XXX | XXX |
| EV/FCF | — | XXX | (69.7x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified ONE Gas Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
ONE Gas Margins & Growth Rates
ONE Gas' revenue in the last 12 month grew by 6%.
ONE Gas' revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.1M for the same period.
ONE Gas' rule of 40 is 41% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ONE Gas' rule of X is 58% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
ONE Gas Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 32% | XXX | XXX | XXX |
| EBITDA Growth | 8% | XXX | 5% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 58% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 17% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
ONE Gas Public Comps
See public comps and valuation multiples for other Energy Services and Utilities comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| ONE Gas | XXX | XXX | XXX | XXX | XXX | XXX |
| Kodiak Gas Services | XXX | XXX | XXX | XXX | XXX | XXX |
| Kurita Water | XXX | XXX | XXX | XXX | XXX | XXX |
| New Jersey Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Ampol | XXX | XXX | XXX | XXX | XXX | XXX |
| ACEA | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ONE Gas M&A Activity
ONE Gas acquired XXX companies to date.
Last acquisition by ONE Gas was on XXXXXXXX, XXXXX. ONE Gas acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by ONE Gas
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialONE Gas Investment Activity
ONE Gas invested in XXX companies to date.
ONE Gas made its latest investment on XXXXXXXX, XXXXX. ONE Gas invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by ONE Gas
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout ONE Gas
| When was ONE Gas founded? | ONE Gas was founded in 2013. |
| Where is ONE Gas headquartered? | ONE Gas is headquartered in United States. |
| How many employees does ONE Gas have? | As of today, ONE Gas has over 4K employees. |
| Who is the CEO of ONE Gas? | ONE Gas' CEO is Robert S. McAnnally. |
| Is ONE Gas publicly listed? | Yes, ONE Gas is a public company listed on NYSE. |
| What is the stock symbol of ONE Gas? | ONE Gas trades under OGS ticker. |
| When did ONE Gas go public? | ONE Gas went public in 2014. |
| Who are competitors of ONE Gas? | ONE Gas main competitors are Kodiak Gas Services, Kurita Water, New Jersey Resources, Ampol. |
| What is the current market cap of ONE Gas? | ONE Gas' current market cap is $6B. |
| What is the current revenue of ONE Gas? | ONE Gas' last 12 months revenue is $3B. |
| What is the current revenue growth of ONE Gas? | ONE Gas revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of ONE Gas? | Current revenue multiple of ONE Gas is 3.6x. |
| Is ONE Gas profitable? | Yes, ONE Gas is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ONE Gas? | ONE Gas' last 12 months EBITDA is $775M. |
| What is ONE Gas' EBITDA margin? | ONE Gas' last 12 months EBITDA margin is 31%. |
| What is the current EV/EBITDA multiple of ONE Gas? | Current EBITDA multiple of ONE Gas is 11.5x. |
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