Atmos Energy vs One Gas
Atmos Energy reported revenue of $4.7 billion in fiscal 2025, 1.9 times One Gas' $2.4 billion in fiscal 2025. Atmos Energy's revenue grew 12.9% in its latest year, and One Gas' grew 16.5%. Atmos Energy had an operating margin of 33.2%, against 18.9% at One Gas. Free cash flow was −$1.5 billion at Atmos Energy and −$128 million at One Gas. Their fiscal years end in different months (September 30 and December 31), so the periods don't line up exactly.
Side by side
| Atmos Energy | One Gas | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $4.7B | $2.4B |
| Revenue growth | 12.9% | 16.5% |
| Revenue growth a year, last 5 years | 10.8% | 9.7% |
| Gross margin | — | 58.9% |
| Operating margin | 33.2% | 18.9% |
| Net margin | 25.5% | 10.9% |
| Free cash flow | −$1.5B | −$128M |
| Free cash flow margin | −32.1% | −5.3% |
| Return on capital | 6.0% | 6.2% |
| Net debt to EBITDA | 3.8x | — |
| Dividends and buybacks | $554M | $161M |
| Change in diluted share count | 5.2% | 6.1% |
| Last close | $171.29 | $78.36 |
| P/E at the last close | 20.4× | 16.9× |
| Insider trades, last 12 months | bought $50,277, sold $77,018 | sold $396,409 |
| Piotroski F-score | 5 of 8 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Atmos EnergyOne Gas
Operating margin
Percent of revenue
Atmos EnergyOne Gas
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Atmos EnergyOne Gas
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Atmos Energy and One Gas pages.