ONE Gas, Inc. — Earnings Quality Grade F
OGS · Utilities
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 69 days, change -2 days YoY
AR growth 13.0% vs revenue growth 16.5%
Revenue 16.5%, CFFO 57.1%. Cash follows revenue
Expense Quality
Inventory 8.4% vs COGS 19.0%. Normal
CapEx growth 0.6% vs revenue 16.5%. Normal
Insufficient data
Gross margin 35.8%, change -1.4pp. Stable
Cash Flow Quality
CFFO/NI = 2.19. Profits backed by cash
FCF < 50% of Net Income for 2 years
Accruals ratio = -3.6%. Low accruals
Cash $0.0B covers only 0% of debt $3.4B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 11% of equity. Manageable
Debt/EBITDA = 4.3x (>4x). Financial stress
Other assets 14.3% vs revenue 16.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -8% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
Monitor OGS continuously
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25