Atmos Energy

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

                    Revenue
                    FY2025
                
$4.7B
                    3y CAGR +3.8%
                    
                    P60
                    
                    +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%
                    
                    P14
                    
                    +18.2%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

18 accounts · 10 years

Total assets $28.2B

Total liabilities ~$14.7B

Shareholders equity $13.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	4.3%	7.4%	0.5%	1.2%	3.4%	0.7%	0.8%	0.4%	1.0%	1.9%
Accounts Receivable	8.0%	8.8%	7.7%	8.7%	10.1%	8.2%	7.9%	8.1%	8.1%	8.8%
Other Current Assets	10.1%	11.0%	12.6%	62.7%	69.8%	7.8%	7.0%	6.8%	10.5%	17.0%
Total Current Assets	22.4%	27.2%	20.7%	72.5%	83.3%	16.7%	15.8%	15.4%	19.6%	27.8%
Property,Plant and Equipment	537.8%	533.1%	458.6%	410.3%	442.1%	473.4%	406.2%	332.9%	335.5%	336.9%
Other Noncurrent Assets	40.5%	44.6%	47.4%	45.3%	50.1%	54.3%	38.7%	32.9%	34.5%	43.2%
Total Assets	600.7%	604.9%	526.7%	528.2%	575.5%	544.4%	460.7%	381.1%	389.5%	407.8%
Liabilities
Current Portion of Long Term Debt	0.3%	0.0%	5.7%	56.8%	70.4%	0.0%	16.0%	36.9%	16.2%	44.0%
Other Current Liabilities	28.7%	28.9%	25.9%	28.9%	32.6%	27.7%	25.7%	24.5%	20.5%	28.9%
Total Current Liabilities	29.0%	29.0%	31.6%	85.7%	103.0%	27.7%	41.7%	61.5%	36.7%	72.9%
Long Term Debt	189.4%	186.9%	153.3%	137.1%	144.7%	160.6%	121.6%	80.0%	111.1%	89.2%
Other Noncurrent Liabilities	94.0%	97.2%	87.5%	81.2%	95.7%	115.3%	99.2%	86.5%	100.4%	104.7%
Equity
Total Stockholders Equity	288.3%	291.9%	254.2%	224.2%	232.0%	240.7%	198.2%	153.1%	141.3%	141.1%
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	174.8%	179.5%	156.3%	138.9%	147.4%	155.2%	127.9%	95.5%	91.9%	97.3%
Retained Earnings	103.4%	101.2%	85.8%	76.4%	82.5%	87.6%	74.2%	60.3%	53.2%	51.4%
Accumulated Other Comprehensive Income	10.1%	11.2%	12.1%	8.8%	2.0%	-2.0%	-3.9%	-2.7%	-3.8%	-7.7%
Total Liabilitiesand Equity	600.7%	604.9%	526.7%	528.2%	575.5%	544.4%	460.7%	381.1%	389.5%	407.8%

Income Statement

Revenue, expense, and profitability

14 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	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	22.7%	22.4%	34.0%	40.0%	30.3%	23.4%	29.6%	37.5%	—	—
Expenses Selling,General and Administrative	19.2%	19.7%	17.9%	16.9%	19.9%	22.3%	21.7%	19.1%	19.5%	21.9%
Expenses Depreciation and Amortization	15.6%	16.1%	14.1%	12.7%	14.0%	15.2%	13.5%	11.6%	11.6%	11.8%
Expenses Other Operating Expenses	9.3%	9.3%	9.0%	8.4%	9.2%	9.9%	9.5%	8.5%	8.7%	9.0%
Other Income Expense Operating Income	33.2%	32.5%	25.0%	21.9%	26.6%	29.2%	25.7%	23.4%	26.7%	26.8%
Other Income Expense Interest Expense	3.7%	4.6%	3.2%	2.4%	2.5%	3.0%	3.6%	3.4%	4.4%	4.7%
Other Income Expense Other Income/expense	1.9%	1.7%	1.6%	0.8%	-0.1%	0.3%	0.3%	-0.3%	-0.4%	-0.0%
Other Income Expense Income Before Tax	31.4%	29.7%	23.4%	20.3%	24.0%	26.5%	22.4%	19.6%	21.9%	22.1%
Income Tax Income Tax Expense	5.9%	4.6%	2.7%	1.8%	4.5%	5.2%	4.8%	0.3%	8.0%	8.0%
net Income net Income	25.5%	25.0%	20.7%	18.4%	19.5%	21.3%	—	19.4%	14.4%	14.3%
Earnings Per Share Basic Eps	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 Diluted	3.4%	3.7%	3.4%	3.3%	3.8%	4.4%	4.0%	3.6%	3.8%	—

Cash Flow Statement

Operating, investing, and financing flows

14 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 Cash From Operating Activities	43.6%	41.6%	80.9%	23.3%	-31.8%	36.8%	33.4%	36.1%	31.4%	32.4%
Operating Activities net Income	25.5%	25.0%	20.7%	18.4%	19.5%	21.3%	17.6%	19.4%	14.4%	14.3%
Operating Activities Depreciation and Amortization	15.6%	16.1%	14.1%	12.7%	14.0%	15.2%	13.5%	11.6%	11.6%	11.9%
Operating Activities Stock Based Compensation	0.3%	0.3%	0.2%	0.3%	0.3%	0.3%	0.4%	0.4%	0.5%	0.6%
Operating Activities Other Non Cash Items	2.2%	0.2%	45.8%	-8.2%	-65.7%	-0.1%	1.9%	4.7%	5.0%	5.6%
Investing Activities Capital Expenditures	-75.7%	-70.5%	-65.6%	-58.2%	-57.8%	-68.6%	-58.4%	-47.1%	-44.3%	-44.3%
Investing Activities Other Investing Activities	0.0%	0.3%	0.3%	0.3%	0.2%	0.4%	0.3%	0.1%	6.0%	0.3%
Investing Activities net Cash From Investing Activities	-75.7%	-70.2%	-65.4%	-57.8%	-57.6%	-68.3%	-58.0%	-47.0%	-38.3%	-44.0%
Financing Activities Proceeds From Debt	24.3%	29.8%	68.1%	19.0%	82.1%	35.4%	36.0%	0.0%	32.1%	0.0%
Financing Activities Repayment of Debt	0.0%	0.0%	-98.7%	-4.8%	0.0%	0.0%	-19.8%	0.0%	-9.1%	0.0%
Financing Activities Dividends Paid	-11.8%	-11.8%	-10.1%	-8.9%	-9.5%	-10.0%	-8.5%	-6.9%	-7.0%	-7.1%
Financing Activities Other Financing Activities	17.4%	17.6%	24.4%	27.7%	19.7%	5.9%	17.3%	17.4%	-10.0%	19.5%
Financing Activities net Cash From Financing Activities	29.9%	35.5%	-16.3%	33.0%	92.3%	31.3%	25.0%	10.5%	6.1%	12.4%
Cash Reconciliation net Change In Cash	-2.2%	7.0%	-0.8%	-1.6%	2.8%	-0.1%	0.4%	-0.4%	-0.8%	0.8%

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	+77.3%	+77.6%	+66.0%	+60.0%	+69.7%	+76.6%	+70.4%	+62.5%	—	—
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%	—	+19.4%	+14.4%	+14.3%
FCF margin	-32.2%	-28.9%	+15.3%	-34.9%	-89.6%	-31.8%	-25.0%	-11.0%	-12.9%	-11.9%
Growth
Revenue CAGR (3y)	+3.8%	+6.9%	+14.9%	+13.1%	+3.0%	+0.7%	+5.7%	+2.1%	-17.6%	-14.1%
Returns
ROE	+8.8%	+8.6%	+8.1%	+8.2%	+8.4%	+8.9%	—	+12.6%	+10.2%	+10.1%
ROA	+4.2%	+4.1%	+3.9%	+3.5%	+3.4%	+3.9%	—	+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	0.43x	0.56x	0.26x	0.12x	0.13x	0.32x	0.21x	0.14x	0.25x	0.15x
Leverage
D/E	1.08x	1.07x	1.07x	1.36x	1.48x	1.26x	1.32x	1.49x	1.76x	1.89x
Interest coverage	9.09x	7.11x	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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