One Gas Inc (OGS)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	231,232	221,742	206,434	196,412	186,749
Total stockholders’ equity	US$ in thousands	2,765,880	2,584,430	2,349,530	2,233,310	2,129,390
ROE		8.36%	8.58%	8.79%	8.79%	8.77%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $231,232K ÷ $2,765,880K
= 8.36%

ONE Gas Inc's return on equity (ROE) has shown a relatively stable trend over the past five years, with values ranging from 8.36% to 8.79%. This indicates that the company has been able to generate a consistent level of profitability for its shareholders relative to the amount of equity invested. The slight fluctuations in ROE may be influenced by various factors such as changes in net income, equity levels, or financial leverage.

Despite the stability in ROE, it is important to note that ONE Gas Inc's ROE is relatively moderate compared to some other companies within the same industry. This suggests that the company may not be maximizing its profitability potential given the level of equity investment. Management may need to focus on improving operational efficiency, optimizing capital structure, or exploring growth opportunities to enhance shareholder returns in the future.

Overall, while ONE Gas Inc's ROE shows consistency, there may be room for improvement to further enhance shareholder value and competitiveness within the industry. Further analysis of the company's financial performance and strategic initiatives may provide more insights into its ROE performance.