Atmos Energy

Utilities Gas Utilities Dallas, Texas Last filing Nov 14, 2025 · FY2025

                    Revenue
                    FY2025
                
$4.7B
                    3y CAGR +3.8%
                    
                    P58
                    
                    +12.9%
                    
                    Net income
                    FY2025
                
$1.2B
                    Net margin +25.5%
                    
                    P100
                    
                    +14.9%
                    
                    Total assets
                    FY2025
                
$28.2B
                    ROA +4.2%
                    
                    P97
                    
                    +12.1%
                    
                    Operating cash flow
                    FY2025
                
$2.0B
                    FCF margin -32.2%
                    
                    P12
                    
                    +18.2%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 10 years

Total assets $28.2B

Total liabilities $28.2B

Shareholders equity $13.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	0.7%	1.2%	0.1%	0.2%	0.6%	0.1%	0.2%	0.1%	0.2%	0.5%
Short Term Investments	0.2%	0.4%	0.5%	0.4%	0.6%	0.7%	0.2%	—	0.8%	0.7%
Accounts Receivable	1.3%	1.5%	1.5%	1.6%	1.7%	1.5%	1.7%	2.1%	2.1%	2.2%
Prepaid Expenses	1.1%	0.3%	0.3%	0.3%	0.2%	0.3%	0.3%	0.3%	0.3%	0.2%
Other Current Assets	1.1%	—	—	—	—	—	—	—	—	—
Total Current Assets	3.7%	4.5%	3.9%	13.7%	14.5%	3.1%	3.4%	4.0%	5.0%	6.8%
Property,Plant and Equipment	89.5%	88.1%	87.1%	77.7%	76.8%	87.0%	88.2%	87.3%	86.1%	82.6%
Goodwill	2.6%	2.9%	3.2%	3.3%	3.7%	4.8%	5.5%	6.2%	6.8%	7.3%
Intangible Assets	0.3%	0.3%	0.4%	0.0%	—	—	—	—	—	—
Other Noncurrent Assets	3.9%	4.1%	5.3%	5.3%	5.0%	5.2%	2.9%	2.5%	2.1%	3.0%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	1.8%	—	—	—	—	—	—	—	—	—
Accrued Liabilities	0.0%	—	—	—	—	—	—	—	—	—
Other Current Liabilities	3.0%	—	—	—	—	—	—	—	—	—
Total Current Liabilities	4.8%	4.8%	6.0%	16.2%	17.9%	5.1%	9.0%	16.1%	9.4%	17.9%
Long Term Debt	31.5%	30.9%	29.1%	26.0%	25.1%	29.5%	26.4%	21.0%	28.5%	21.9%
Deferred Tax Liabilities	10.3%	13.0%	13.5%	12.4%	14.9%	14.7%	15.5%	16.0%	24.6%	23.8%
Other Noncurrent Liabilities	2.8%	2.7%	2.7%	2.4%	2.7%	4.2%	3.0%	1.3%	1.6%	2.5%
Total Liabilities	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	29.1%	29.7%	29.7%	26.3%	25.6%	28.5%	27.8%	25.1%	23.6%	23.9%
Retained Earnings	17.2%	16.7%	16.3%	14.5%	14.3%	16.1%	16.1%	15.8%	13.6%	12.6%
Accumulated Other Comprehensive Income	1.7%	1.8%	2.3%	1.7%	0.4%	-0.4%	-0.9%	-0.7%	-1.0%	-1.9%
Total Stockholders Equity	48.0%	48.3%	48.3%	42.4%	40.3%	44.2%	43.0%	40.2%	36.3%	34.6%
Total Liabilitiesand Equity	100.0%	148.3%	148.3%	142.4%	140.3%	144.2%	143.0%	140.2%	136.3%	134.6%

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $4.7B

Operating income $1.6B

Net income $1.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	16.6%	16.5%	19.0%	18.9%	17.4%	18.4%	21.7%	26.2%	25.7%	24.5%
Expenses Selling,General and Administrative	3.2%	—	—	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	2.6%	2.7%	2.7%	2.4%	2.4%	2.8%	2.9%	3.0%	3.0%	2.9%
Expenses Share Based Compensation	0.0%	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	5.5%	5.4%	4.7%	4.1%	4.6%	5.4%	5.6%	6.1%	6.8%	6.6%
Other Income Expense Interest Income	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—
Other Income Expense Interest Expense	0.6%	-0.0%	0.6%	0.5%	0.4%	0.5%	0.8%	0.9%	1.1%	1.1%
Other Income Expense Other Income/expense	0.3%	0.3%	0.3%	0.2%	-0.0%	0.0%	0.1%	-0.1%	-0.1%	-0.0%
Other Income Expense Income Before Tax	5.2%	4.9%	4.4%	3.8%	4.2%	4.9%	4.9%	5.1%	5.6%	5.4%
Income Tax Income Tax Expense	1.0%	0.8%	0.5%	0.3%	0.8%	0.9%	1.0%	0.1%	2.1%	2.0%
net Income net Income	4.2%	4.1%	3.9%	3.5%	3.4%	3.9%	3.8%	5.1%	3.7%	3.5%
net Income Comprehensive Income	4.3%	3.9%	4.6%	4.8%	4.0%	4.3%	3.7%	5.5%	4.5%	2.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.6%	0.6%	0.6%	0.6%	0.7%	0.8%	0.9%	0.9%	1.0%	1.0%
Earnings Per Share Weighted Average Shares Diluted	0.6%	0.6%	0.6%	0.6%	0.7%	0.8%	0.9%	0.9%	1.0%	1.0%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $2.0B

Investing cash flow $-3.6B

Financing cash flow $1.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	4.2%	4.1%	3.9%	3.5%	3.4%	3.9%	3.8%	5.1%	3.7%	3.5%
Operating Activities Depreciation and Amortization	2.6%	2.7%	2.7%	2.4%	2.4%	2.8%	2.9%	3.0%	3.0%	2.9%
Operating Activities Stock Based Compensation	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
Operating Activities Deferred Income Taxes	1.0%	0.7%	0.5%	0.2%	0.8%	1.0%	1.0%	1.3%	2.1%	1.9%
Operating Activities Changes In Operating Assets and Liabilities	0.0%	0.7%	-0.0%	0.8%	-0.2%	-0.3%	-0.1%	0.5%	-1.0%	-0.1%
Operating Activities net Cash From Operating Activities	7.3%	6.9%	15.4%	4.4%	-5.5%	6.8%	7.2%	9.5%	8.1%	7.9%
Investing Activities Capital Expenditures	12.6%	11.7%	12.5%	11.0%	10.0%	12.6%	12.7%	12.4%	10.6%	10.9%
Investing Activities Purchases of Investments	0.1%	0.1%	0.2%	0.1%	0.3%	0.3%	0.2%	—	—	—
Investing Activities Proceeds From Sale of Investments	0.1%	0.0%	0.1%	0.0%	0.1%	0.2%	0.0%	0.1%	0.1%	0.1%
Investing Activities Other Investing Activities	-0.0%	-0.1%	-0.1%	-0.0%	-0.1%	-0.1%	-0.1%	-0.1%	-0.1%	-0.1%
Investing Activities net Cash From Investing Activities	-12.6%	-11.6%	-12.4%	-10.9%	-10.0%	-12.5%	-12.6%	-12.3%	-9.8%	-10.8%
Financing Activities Proceeds From Debt	4.0%	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	0.0%	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	2.0%	2.0%	1.9%	1.7%	1.7%	1.8%	1.8%	1.8%	1.8%	1.7%
Financing Activities Proceeds From Stock Issuance	0.1%	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	-0.0%	-0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	5.0%	5.9%	-3.1%	6.3%	16.0%	5.8%	5.4%	2.7%	1.6%	3.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.7%	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	-0.4%	1.1%	-0.1%	-0.3%	0.5%	-0.0%	0.1%	-0.1%	—	—
Cash Reconciliation Cash At Beginning of Period	0.7%	1.2%	0.1%	0.2%	0.6%	0.1%	0.2%	0.1%	0.2%	0.5%
Cash Reconciliation Cash At End of Period	0.7%	1.2%	0.1%	0.2%	0.6%	0.1%	0.2%	0.1%	0.2%	0.5%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+33.2%	+32.5%	+25.0%	+21.9%	+26.6%	+29.2%	+25.7%	+23.4%	+26.7%	+26.8%
Net margin	+25.5%	+25.0%	+20.7%	+18.4%	+19.5%	+21.3%	+17.6%	+19.4%	+14.4%	+14.3%
FCF margin	-32.2%	-28.9%	+15.3%	-34.9%	-89.6%	-31.8%	-25.0%	-11.0%	-9.8%	-11.9%
Growth
Revenue CAGR (3y)	+3.8%	+6.9%	+14.9%	+13.1%	+3.0%	+0.7%	+5.7%	+2.1%	-5.2%	-14.1%
Returns
ROE	+8.8%	+8.6%	+8.1%	+8.2%	+8.4%	+8.9%	+8.9%	+12.6%	+10.2%	+10.1%
ROA	+4.2%	+4.1%	+3.9%	+3.5%	+3.4%	+3.9%	+3.8%	+5.1%	+3.7%	+3.5%
ROIC	+5.7%	+5.8%	+5.4%	+4.8%	+4.9%	+5.9%	+6.0%	+8.6%	+6.3%	+6.3%
Liquidity
Current ratio	0.77x	0.94x	0.65x	0.85x	0.81x	0.60x	0.38x	0.25x	0.53x	0.38x
Quick ratio	0.42x	0.56x	0.25x	0.12x	0.13x	0.32x	0.21x	0.14x	0.25x	0.15x
Leverage
D/E	2.08x	2.07x	2.07x	2.36x	2.48x	2.26x	2.32x	2.49x	2.76x	2.89x
Interest coverage	9.09x	-196.94x	7.77x	8.96x	10.83x	9.76x	7.23x	6.83x	6.12x	5.72x
Efficiency
Asset turnover	0.17x	0.17x	0.19x	0.19x	0.17x	0.18x	0.22x	0.26x	0.26x	0.25x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Atmos Energy

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