One Gas Inc (OGS)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	231,232	227,531	226,043	225,429	221,742	215,222	211,774	209,792	206,433	204,252	205,078	200,310	196,412	189,243	185,621	184,766	186,749	180,291	179,110	175,059
Total stockholders’ equity	US$ in thousands	2,765,880	2,646,750	2,654,830	2,651,480	2,584,430	2,446,270	2,453,600	2,449,390	2,349,530	2,315,100	2,317,270	2,296,600	2,233,310	2,200,020	2,191,990	2,189,010	2,129,390	2,101,880	2,108,460	2,104,780
ROE		8.36%	8.60%	8.51%	8.50%	8.58%	8.80%	8.63%	8.57%	8.79%	8.82%	8.85%	8.72%	8.79%	8.60%	8.47%	8.44%	8.77%	8.58%	8.49%	8.32%

December 31, 2023 calculation

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

The return on equity (ROE) of ONE Gas Inc has remained relatively stable and consistent over the past eight quarters, ranging from 8.36% to 8.80%. The company's ROE indicates that for every dollar of equity invested by shareholders, ONE Gas is generating a return between approximately 8.36% and 8.80%.

Although there have been minor fluctuations in ROE from quarter to quarter, the overall trend shows a consistent performance in terms of profitability and efficiency in utilizing shareholder equity. This stability in ROE suggests that ONE Gas Inc has been able to maintain a healthy level of profitability relative to the equity invested by its shareholders.

Investors may view the consistent ROE levels positively as it reflects the company's ability to generate sustainable returns on shareholder equity over time. However, further analysis would be required to understand the factors contributing to the company's ROE performance and to evaluate its overall financial health and efficiency.