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

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	$202.7M -34.1%	$307.3M 1895.2%	$15.4M -70.1%	$51.6M -55.8%	$116.7M 461.0%	$20.8M -15.2%	$24.6M 78.3%	$13.8M -47.9%	$26.4M -44.4%	$47.5M
Short Term Investments	$42.5M -61.6%	$110.6M 5.7%	$104.6M 8.9%	$96.0M -11.2%	$108.1M 4.0%	$104.0M 227.9%	$31.7M	—	$88.4M 21.6%	$72.7M
Accounts Receivable	$375.5M 2.6%	$365.9M 11.3%	$328.7M -9.6%	$363.7M 6.0%	$343.0M 48.7%	$230.6M 0.0%	$230.6M -9.0%	$253.3M 14.0%	$222.3M 3.0%	$215.9M
Prepaid Expenses	$301.6M 303.4%	$74.8M 28.9%	$58.0M -0.9%	$58.6M 20.1%	$48.8M 20.9%	$40.3M 3.7%	$38.9M 17.0%	$33.2M 3.3%	$32.2M 49.7%	$21.5M
Other Current Assets	$301.6M	—	—	—	—	—	—	—	—	—
Total Current Assets	$1.1B -7.0%	$1.1B 27.8%	$885.8M -70.9%	$3.0B 7.4%	$2.8B 502.4%	$471.3M 2.9%	$458.0M -4.3%	$478.9M -11.3%	$539.6M -20.8%	$681.7M
Property,Plant and Equipment	$25.3B 13.9%	$22.2B 13.2%	$19.6B 13.7%	$17.2B 14.4%	$15.1B 12.8%	$13.4B 13.3%	$11.8B 13.7%	$10.4B 12.0%	$9.3B 12.0%	$8.3B
Goodwill	$731.3M 0.0%	$731.3M 0.0%	$731.3M 0.0%	$731.3M 0.0%	$731.3M 0.0%	$731.3M 0.1%	$730.7M 0.0%	$730.4M 0.0%	$730.1M 0.4%	$727.0M
Intangible Assets	$75.1M -9.3%	$82.8M -10.1%	$92.2M	$0	—	—	—	—	—	—
Other Noncurrent Assets	$1.1B 5.2%	$1.0B -13.1%	$1.2B 2.3%	$1.2B 20.4%	$974.7M 21.7%	$801.2M 104.8%	$391.2M 33.1%	$294.0M 33.3%	$220.6M -27.7%	$305.0M
Total Assets	$28.2B 12.1%	$25.2B 11.9%	$22.5B 1.5%	$22.2B 13.2%	$19.6B 27.7%	$15.4B 14.9%	$13.4B 12.6%	$11.9B 10.5%	$10.7B 7.4%	$10.0B
Liabilities
Accounts Payable	$506.5M	—	—	—	—	—	—	—	—	—
Accrued Liabilities	$0	—	—	—	—	—	—	—	—	—
Other Current Liabilities	$835.6M	—	—	—	—	—	—	—	—	—
Total Current Liabilities	$1.4B 13.0%	$1.2B -10.8%	$1.4B -62.5%	$3.6B 2.6%	$3.5B 348.7%	$782.4M -35.3%	$1.2B -36.8%	$1.9B 89.0%	$1.0B -43.3%	$1.8B
Long Term Debt	$8.9B 14.4%	$7.8B 18.8%	$6.6B 13.8%	$5.8B 16.8%	$4.9B 8.8%	$4.5B 28.4%	$3.5B 41.5%	$2.5B -18.7%	$3.1B 40.1%	$2.2B
Deferred Tax Liabilities	$2.9B -10.9%	$3.3B 7.5%	$3.0B 10.9%	$2.7B -6.0%	$2.9B 29.3%	$2.3B 8.9%	$2.1B 9.0%	$1.9B -28.0%	$2.6B 10.9%	$2.4B
Other Noncurrent Liabilities	$784.3M 13.4%	$691.9M 15.3%	$599.9M 11.4%	$538.3M 0.2%	$537.5M -16.3%	$642.1M 60.4%	$400.2M 153.3%	$158.0M -10.1%	$175.7M -28.4%	$245.4M
Total Liabilities	$28.2B 12.1%	$25.2B 11.9%	$22.5B 1.5%	$22.2B 13.2%	$19.6B 27.7%	$15.4B 14.9%	$13.4B 12.6%	$11.9B 10.5%	$10.7B 7.4%	$10.0B
Equity
Common Stock	$808.0K 4.1%	$776.0K 4.6%	$742.0K 5.4%	$704.0K 6.3%	$662.0K 5.2%	$629.0K 5.4%	$597.0K 7.4%	$556.0K 4.7%	$531.0K 2.1%	$520.0K
Additional Paid In Capital	$8.2B 10.0%	$7.5B 11.8%	$6.7B 14.5%	$5.8B 16.2%	$5.0B 14.8%	$4.4B 17.9%	$3.7B 24.8%	$3.0B 17.3%	$2.5B 6.2%	$2.4B
Retained Earnings	$4.9B 15.3%	$4.2B 15.0%	$3.7B 14.2%	$3.2B 14.2%	$2.8B 13.8%	$2.5B 14.8%	$2.2B 14.6%	$1.9B 28.0%	$1.5B 16.2%	$1.3B
Accumulated Other Comprehensive Income	$475.0M 2.0%	$465.7M -10.2%	$518.5M 40.5%	$369.1M 428.8%	$69.8M 221.2%	$-57.6M 49.7%	$-114.6M -37.0%	$-83.6M 20.5%	$-105.3M 44.0%	$-188.0M
Total Stockholders Equity	$13.6B 11.5%	$12.2B 11.8%	$10.9B 15.4%	$9.4B 19.1%	$7.9B 16.4%	$6.8B 18.1%	$5.8B 20.6%	$4.8B 22.3%	$3.9B 12.6%	$3.5B
Total Liabilitiesand Equity	$28.2B -24.4%	$37.4B 11.9%	$33.4B 5.6%	$31.6B 14.9%	$27.5B 24.2%	$22.2B 15.9%	$19.1B 14.9%	$16.6B 13.6%	$14.6B 8.7%	$13.5B

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	$4.7B 12.9%	$4.2B -2.6%	$4.3B 1.8%	$4.2B 23.3%	$3.4B 20.8%	$2.8B -2.8%	$2.9B -6.9%	$3.1B 12.9%	$2.8B 12.4%	$2.5B
Expenses Selling,General and Administrative	$902.9M	—	—	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	$734.7M 9.7%	$670.0M 10.9%	$604.3M 12.8%	$535.7M 12.1%	$478.0M 11.2%	$429.8M 9.8%	$391.5M 8.4%	$361.1M 13.0%	$319.6M 9.1%	$293.1M
Expenses Share Based Compensation	$12.7M	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	$1.6B 15.1%	$1.4B 27.0%	$1.1B 15.9%	$921.0M 1.8%	$905.0M 9.8%	$824.1M 10.5%	$746.1M 2.5%	$727.9M -1.0%	$735.6M 11.9%	$657.2M
Other Income Expense Interest Income	$29.9M 30.8%	$22.9M 217.6%	$7.2M 159.2%	$2.8M 29.7%	$2.1M -26.9%	$2.9M -29.5%	$4.2M 186.9%	$1.4M 4.3%	$1.4M	—
Other Income Expense Interest Expense	$171.7M 2594.6%	$-6.9M -105.0%	$137.3M 33.5%	$102.8M 23.0%	$83.6M -1.1%	$84.5M -18.1%	$103.2M -3.3%	$106.6M -11.3%	$120.2M 4.7%	$114.8M
Other Income Expense Other Income/expense	$89.7M 26.3%	$71.0M 1.8%	$69.8M 106.8%	$33.7M 1672.8%	$-2.1M -129.9%	$7.2M -3.1%	$7.4M 173.0%	$-10.1M 10.6%	$-11.4M -4751.3%	$-234.0K
Other Income Expense Income Before Tax	$1.5B 19.6%	$1.2B 23.6%	$999.6M 17.3%	$851.9M 4.0%	$819.3M 9.7%	$746.8M 14.8%	$650.3M 6.4%	$611.1M 1.2%	$604.1M 11.4%	$542.2M
Income Tax Income Tax Expense	$279.3M 44.8%	$192.9M 69.5%	$113.8M 46.8%	$77.5M -49.6%	$153.7M 5.8%	$145.4M 4.6%	$138.9M 1619.1%	$8.1M -96.4%	$221.4M 12.6%	$196.6M
net Income net Income	$1.2B 14.9%	$1.0B 17.7%	$885.9M 14.4%	$774.4M 16.4%	$665.6M 10.7%	$601.4M 17.6%	$511.4M -15.2%	$603.1M 52.1%	$396.4M 13.2%	$350.1M
net Income Comprehensive Income	$1.2B 22.0%	$990.1M -4.4%	$1.0B -3.6%	$1.1B 35.4%	$793.0M 20.4%	$658.4M 34.7%	$488.7M -24.5%	$647.6M 35.1%	$479.2M 76.6%	$271.4M
Earnings Per Share Basic Eps	$8 10.4%	$7 12.0%	$6 8.7%	$6 9.6%	$5 4.7%	$5 12.2%	$4 -19.7%	$5 45.6%	$4 10.4%	$3
Earnings Per Share Diluted Eps	$7 9.2%	$7 12.0%	$6 8.9%	$6 9.4%	$5 4.7%	$5 12.4%	$4 -19.9%	$5 45.6%	$4 10.4%	$3
Earnings Per Share Weighted Average Shares Basic	$158.9M 4.2%	$152.5M 5.1%	$145.1M 5.3%	$137.8M 6.2%	$129.8M 5.7%	$122.8M 4.8%	$117.2M 5.6%	$111.0M 4.6%	$106.1M 2.5%	$103.5M
Earnings Per Share Weighted Average Shares Diluted	$160.6M 5.2%	$152.7M 5.2%	$145.2M 5.1%	$138.1M 6.4%	$129.8M 5.7%	$122.9M 4.6%	$117.5M 5.8%	$111.0M 4.6%	$106.1M 2.5%	$103.5M

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	$1.2B 14.9%	$1.0B 17.7%	$885.9M 14.4%	$774.4M 16.4%	$665.6M 10.7%	$601.4M 17.6%	$511.4M -15.2%	$603.1M 52.1%	$396.4M 13.2%	$350.1M
Operating Activities Depreciation and Amortization	$734.7M 9.7%	$670.0M 10.9%	$604.3M 12.8%	$535.7M 12.1%	$478.0M 11.2%	$429.8M 9.8%	$391.5M 8.4%	$361.1M 13.0%	$319.6M 9.1%	$293.1M
Operating Activities Stock Based Compensation	$12.7M 18.9%	$10.7M 5.2%	$10.2M -5.3%	$10.7M -4.5%	$11.3M 17.4%	$9.6M -13.8%	$11.1M -13.5%	$12.9M -8.5%	$14.1M -4.7%	$14.8M
Operating Activities Deferred Income Taxes	$268.6M 55.5%	$172.7M 59.6%	$108.2M 101.7%	$53.7M -65.5%	$155.4M 0.0%	$155.3M 17.7%	$132.0M -16.6%	$158.3M -30.3%	$227.2M 17.4%	$193.6M
Operating Activities Changes In Operating Assets and Liabilities	$3.7M -98.0%	$186.7M 1887.5%	$-10.4M -106.1%	$169.9M 489.3%	$-43.6M 10.5%	$-48.8M -217.9%	$-15.3M -128.0%	$54.7M 149.7%	$-110.1M -1373.3%	$-7.5M
Operating Activities net Cash From Operating Activities	$2.0B 18.2%	$1.7B -49.9%	$3.5B 253.9%	$977.6M 190.2%	$-1.1B -204.5%	$1.0B 7.1%	$968.8M -13.9%	$1.1B 29.7%	$867.1M 9.1%	$795.0M
Investing Activities Capital Expenditures	$3.6B 21.3%	$2.9B 4.7%	$2.8B 14.8%	$2.4B 24.1%	$2.0B 1.7%	$1.9B 14.3%	$1.7B 15.4%	$1.5B 29.1%	$1.1B 4.6%	$1.1B
Investing Activities Purchases of Investments	$34.3M 73.9%	$19.7M -57.8%	$46.8M 65.4%	$28.3M -43.3%	$49.9M -1.3%	$50.5M 73.3%	$29.2M	—	—	—
Investing Activities Proceeds From Sale of Investments	$22.8M 281.5%	$6.0M -76.2%	$25.1M 415.9%	$4.9M -67.4%	$15.0M -53.7%	$32.3M 432.8%	$6.1M -61.4%	$15.7M 68.4%	$9.3M 48.4%	$6.3M
Investing Activities Other Investing Activities	$-4.4M 72.8%	$-16.1M 15.5%	$-19.0M -84.7%	$-10.3M 13.9%	$-12.0M -23.7%	$-9.7M -12.4%	$-8.6M 8.0%	$-9.3M -0.1%	$-9.3M -44.6%	$-6.5M
Investing Activities net Cash From Investing Activities	$-3.6B -21.8%	$-2.9B -4.6%	$-2.8B -15.0%	$-2.4B -23.7%	$-2.0B -2.0%	$-1.9B -14.4%	$-1.7B -15.0%	$-1.5B -38.6%	$-1.1B 2.2%	$-1.1B
Financing Activities Proceeds From Debt	$1.1B	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	$0	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	$553.8M 12.3%	$492.9M 14.5%	$430.3M 14.5%	$375.9M 16.1%	$323.9M 14.7%	$282.4M 14.9%	$245.7M 14.3%	$214.9M 12.0%	$191.9M 9.6%	$175.1M
Financing Activities Proceeds From Stock Issuance	$15.3M	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	$-1.1M 5.8%	$-1.1M	$0 100.0%	$-1.7M	$0	$0	$0 100.0%	$-1.5M	$0	$0
Financing Activities net Cash From Financing Activities	$1.4B -4.9%	$1.5B 312.2%	$-696.8M -150.2%	$1.4B -55.9%	$3.1B 255.7%	$883.8M 21.8%	$725.7M 122.4%	$326.3M 94.1%	$168.1M -44.6%	$303.6M
Cash Reconciliation Effect of Exchange Rate On Cash	$203.8M	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	$-105.1M -136.3%	$289.6M 996.5%	$-32.3M 50.4%	$-65.2M -167.9%	$95.9M 2663.2%	$-3.7M -134.7%	$10.8M 185.3%	$-12.6M	—	—
Cash Reconciliation Cash At Beginning of Period	$203.8M -33.7%	$307.3M 1895.2%	$15.4M -70.1%	$51.6M -55.8%	$116.7M 461.0%	$20.8M -15.2%	$24.6M 78.3%	$13.8M -47.9%	$26.4M -44.4%	$47.5M
Cash Reconciliation Cash At End of Period	$203.8M -33.7%	$307.3M 1895.2%	$15.4M -70.1%	$51.6M -55.8%	$116.7M 461.0%	$20.8M -15.2%	$24.6M 78.3%	$13.8M -47.9%	$26.4M -44.4%	$47.5M

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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