Atmos Energy (ATO) vs ONE Gas (OGS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Atmos Energy (ATO) has outperformed ONE Gas (OGS) over the past year, losing 9.0% versus a loss of 9.6%. Over five years, ATO leads with a +71.2% price change compared with +7.0% for OGS. Atmos Energy is the larger company by market cap ($26.90 billion vs $4.57 billion), about 5.9 times the size, while ONE Gas is growing revenue faster (+16.5% vs +12.9%).
On valuation, ONE Gas trades at a lower forward P/E (14.4x vs 17.6x for Atmos Energy). ONE Gas offers the higher dividend yield (3.72% vs 2.43%). Atmos Energy converts more of its revenue into profit, with a net margin of 25.5% versus 10.9%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ATO | OGS |
|---|---|---|
| Share price | $159.21 | $72.65 |
| Market cap | $26.90B | $4.57B |
| 1-day change | -0.33% | -0.68% |
| YTD return | -5.02% | -5.95% |
| 1-year return | -8.98% | -9.61% |
| 5-year return | +71.19% | +7.03% |
| P/E ratio (TTM) | 18.98 | 15.62 |
| Forward P/E | 17.63 | 14.40 |
| EPS (TTM) | $8.39 | $4.65 |
| Dividend yield | 2.43% | 3.72% |
| Annual dividend | $3.87 | $2.70 |
| Revenue (latest FY) | $4.70B | $2.43B |
| Revenue growth (YoY) | +12.91% | +16.50% |
| Net income (latest FY) | $1.20B | $264.22M |
| Gross margin | — | 58.85% |
| Operating margin | 33.17% | 18.85% |
| Net margin | 25.49% | 10.88% |
| 52-week high | $192.51 | $90.78 |
| 52-week low | $154.72 | $70.37 |
| Distance from 52-week high | -17.30% | -19.97% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +16.20% | +22.12% |
| Average volume | 1.01M | 543.01K |
| Shares outstanding | 168.99M | 62.86M |
| Employees | 5,487 | 4,000 |
| Sector | Utilities | Utilities |
| Industry | Oil/Gas Transmission | Oil/Gas Transmission |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Atmos Energy is about 5.9 times larger than ONE Gas by market value ($26.90B vs $4.57B).
- ONE Gas offers a meaningfully higher dividend yield (3.72% vs 2.43%).
- Atmos Energy is more profitable, keeping 25.5 cents of every revenue dollar as net income versus 10.9 cents for ONE Gas.
About Atmos Energy
ATO stock →Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage.
Utilities · Oil/Gas Transmission · 5,487 employees
About ONE Gas
OGS stock →ONE Gas, Inc., together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company offers natural gas distribution services.
Utilities · Oil/Gas Transmission · 4,000 employees
ATO vs OGS FAQ
Which is bigger, Atmos Energy or ONE Gas?
Atmos Energy (ATO) is larger, with a market capitalization of $26.90B compared with $4.57B for ONE Gas (OGS).
Which stock has performed better over the past year, ATO or OGS?
ATO returned -8.98% over the past 12 months, compared with -9.61% for OGS (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ATO or OGS?
OGS has the lower trailing P/E at 15.6, versus 19.0 for ATO. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Atmos Energy or ONE Gas?
ONE Gas has the higher yield at 3.72%, compared with 2.43% for Atmos Energy.
Are Atmos Energy and ONE Gas in the same industry?
Yes. Both are classified in the Oil/Gas Transmission industry within the Utilities sector.