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Atmos Energy (ATO) Financials

Atmos Energy logo
$181.69 -3.07 (-1.66%)
Closing price 05/7/2026 03:59 PM Eastern
Extended Trading
$183.23 +1.54 (+0.85%)
As of 08:43 AM Eastern
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Annual Income Statements for Atmos Energy

Annual Income Statements for Atmos Energy

This table shows Atmos Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 315 350 396 603 511 601 666 774 886 1,043 1,199
Consolidated Net Income / (Loss)		 315 350 396 603 511 601 666 774 886 1,043 1,199
Net Income / (Loss) Continuing Operations		 306 346 383 603 511 601 666 774 886 1,043 1,199
Total Pre-Tax Income 		495 542 604 611 650 747 819 852 1,000 1,236 1,478
Total Operating Income		 612 657 736 728 746 824 905 921 1,067 1,355 1,560
Total Gross Profit		 1,631 1,708 1,834 1,948 2,043 2,162 2,375 2,519 2,823 3,231 3,637
Total Revenue		 2,927 2,455 2,760 3,116 2,902 2,821 3,407 4,202 4,275 4,165 4,703
Operating Revenue		 2,927 2,455 2,760 3,116 2,902 2,821 3,407 4,202 4,275 4,165 4,703
Total Cost of Revenue		 1,296 746 926 1,168 859 659 1,033 1,683 1,452 934 1,066
Operating Cost of Revenue		 1,296 746 926 1,168 859 659 1,033 1,683 1,452 934 1,066
Total Operating Expenses		 1,019 1,051 1,099 1,220 1,297 1,338 1,470 1,598 1,756 1,876 2,077
Selling, General & Admin Expense		 516 539 539 595 630 630 679 710 765 819 903
Depreciation Expense		 272 291 319 361 391 430 478 536 604 670 735
Other Operating Expenses / (Income)		 230 222 240 264 275 279 313 352 387 387 439
Total Other Income / (Expense), net		 -117 -115 -132 -117 -96 -77 -86 -69 -68 -120 -82
Interest Expense		 116 115 120 107 103 84 84 103 137 191 172
Other Income / (Expense), net		 -0.82 -0.23 -11 -10 7.40 7.17 -2.15 34 70 71 90
Income Tax Expense		 190 197 221 8.08 139 145 154 78 114 193 279
Basic Earnings per Share		 $3.09 $3.38 $3.73 $5.43 $4.36 $4.89 $5.12 $5.61 $6.10 $6.83 $7.54
Weighted Average Basic Shares Outstanding		 101.89M 103.52M 106.10M 111.01M 117.20M 122.79M 129.78M 137.83M 145.12M 152.51M 158.94M
Diluted Earnings per Share		 $3.09 $3.38 $3.73 $5.43 $4.35 $4.89 $5.12 $5.60 $6.10 $6.83 $7.46
Weighted Average Diluted Shares Outstanding		 101.89M 103.52M 106.10M 111.01M 117.46M 122.87M 129.83M 138.10M 145.17M 152.67M 160.57M
Weighted Average Basic & Diluted Shares Outstanding		 101.89M 103.52M 106.10M 111.01M 119.34M 125.89M 132.43M 140.90M 148.50M 155.40M 161.69M
Cash Dividends to Common per Share		 $1.56 $1.68 $1.80 $1.94 $2.10 $2.30 $2.50 $2.72 $2.96 $3.22 $3.48

Quarterly Income Statements for Atmos Energy

This table shows Atmos Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 119 311 432 166 134 352 486 186 175 403 582
Consolidated Net Income / (Loss)		 119 311 432 166 134 352 486 186 175 403 582
Net Income / (Loss) Continuing Operations		 119 311 432 166 134 352 486 186 175 403 582
Total Pre-Tax Income 		137 365 512 199 159 431 603 231 213 504 734
Total Operating Income		 154 399 551 220 185 459 629 252 219 515 765
Total Gross Profit		 584 820 1,023 704 685 942 1,171 785 739 1,047 1,295
Total Revenue		 588 1,158 1,647 702 658 1,176 1,951 839 737 1,343 1,962
Operating Revenue		 588 1,158 1,647 702 658 1,176 1,951 839 737 1,343 1,962
Total Cost of Revenue		 3.16 339 624 -2.59 -27 234 779 54 -1.07 296 667
Operating Cost of Revenue		 3.16 339 624 -2.59 -27 234 779 54 -1.07 296 667
Total Operating Expenses		 430 420 472 484 500 482 542 533 519 532 530
Selling, General & Admin Expense		 190 166 200 211 242 207 233 222 241 230 196
Depreciation Expense		 159 165 165 167 173 181 183 186 186 195 196
Other Operating Expenses / (Income)		 81 90 107 106 85 95 126 125 93 107 139
Total Other Income / (Expense), net		 -17 -34 -39 -21 -26 -28 -26 -21 -6.37 -11 -31
Interest Expense		 32 52 55 41 42 53 50 42 27 33 49
Other Income / (Expense), net		 15 18 17 20 17 25 24 20 21 22 18
Income Tax Expense		 19 54 80 33 25 79 118 44 38 101 152
Basic Earnings per Share		 $0.76 $2.08 $2.85 $1.08 $0.82 $2.25 $3.05 $1.17 $1.07 $2.48 $3.49
Weighted Average Basic Shares Outstanding		 145.12M 149.80M 151.27M 153.31M 152.51M 156.30M 159.18M 159.29M 158.94M 162.73M 166.46M
Diluted Earnings per Share		 $0.77 $2.08 $2.85 $1.08 $0.82 $2.23 $3.03 $1.16 $1.04 $2.44 $3.47
Weighted Average Diluted Shares Outstanding		 145.17M 149.80M 151.30M 153.40M 152.67M 157.82M 160.43M 161.17M 160.57M 164.87M 167.81M
Weighted Average Basic & Diluted Shares Outstanding		 148.50M 150.84M 150.88M 155.23M 155.40M 158.73M 158.84M 160.52M 161.69M 165.44M 166.92M
Cash Dividends to Common per Share		 - $0.81 $0.81 $0.81 - $0.87 $0.87 $0.87 - $1.00 $1.00

Annual Cash Flow Statements for Atmos Energy

This table details how cash moves in and out of Atmos Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Net Change in Cash & Equivalents		 -14 19 -21 -13 11 -3.74 96 -65 -32 290 -105
Net Cash From Operating Activities		 812 795 867 1,125 969 1,038 -1,084 978 3,460 1,734 2,049
Net Cash From Continuing Operating Activities		 812 795 867 1,125 969 1,038 -1,084 978 3,460 1,734 2,049
Net Income / (Loss) Continuing Operations		 315 350 396 603 511 601 666 774 886 1,043 1,199
Consolidated Net Income / (Loss)		 315 350 396 603 511 601 666 774 886 1,043 1,199
Depreciation Expense		 275 293 320 361 391 430 478 536 604 670 735
Amortization Expense		 5.92 5.67 6.47 7.87 9.46 12 14 9.14 3.64 -6.88 -15
Non-Cash Adjustments To Reconcile Net Income		 16 16 -9.35 -140 1.13 -26 -18 -31 1,967 -46 -52
Changes in Operating Assets and Liabilities, net		 200 130 154 293 55 22 -2,224 -310 -1.54 74 183
Net Cash From Investing Activities		 -957 -1,080 -1,056 -1,464 -1,684 -1,926 -1,964 -2,430 -2,795 -2,923 -3,561
Net Cash From Continuing Investing Activities		 -957 -1,080 -1,197 -1,467 -1,688 -1,926 -1,964 -2,430 -2,795 -2,923 -3,561
Purchase of Property, Plant & Equipment		 -964 -1,087 -1,223 -1,468 -1,693 -1,936 -1,970 -2,444 -2,806 -2,937 -3,561
Purchase of Investments		 -30 -33 -54 -46 -29 -51 -50 -28 -47 -20 -34
Sale and/or Maturity of Investments		 31 33 41 38 26 51 44 32 38 18 30
Other Investing Activities, net		 5.42 6.46 39 9.35 8.60 9.67 12 10 19 16 4.37
Net Cash From Financing Activities		 131 304 168 326 726 884 3,144 1,387 -697 1,479 1,407
Net Cash From Continuing Financing Activities		 131 304 168 326 726 884 3,144 1,387 -697 1,479 1,407
Repayment of Debt		 -244 372 -639 -1.52 -697 -473 -14 -210 -4,229 -265 -20
Payment of Dividends		 -160 -175 -192 -215 -246 -282 -324 -376 -430 -493 -554
Issuance of Debt		 499 0.00 885 128 1,045 999 2,797 984 2,969 1,240 1,143
Issuance of Common Equity		 0.00 99 125 415 713 644 623 792 822 765 714
Other Financing Activities, net		 13 -26 -11 0.00 -90 -4.43 62 197 171 231 123

Quarterly Cash Flow Statements for Atmos Energy

This table details how cash moves in and out of Atmos Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -39 266 -22 415 -370 281 -44 168 -510 168 -244
Net Cash From Operating Activities		 238 245 747 411 331 282 923 496 348 308 723
Net Cash From Continuing Operating Activities		 238 245 747 411 331 282 923 496 348 308 723
Net Income / (Loss) Continuing Operations		 119 311 432 166 134 352 486 186 175 403 582
Consolidated Net Income / (Loss)		 119 311 432 166 134 352 486 186 175 403 582
Depreciation Expense		 159 165 165 167 173 181 183 186 186 195 196
Non-Cash Adjustments To Reconcile Net Income		 -2,038 -17 -11 -11 -6.56 -19 -13 -17 -2.29 -23 -12
Changes in Operating Assets and Liabilities, net		 1,995 -214 161 90 37 -231 268 141 4.81 -266 -42
Net Cash From Investing Activities		 -718 -764 -645 -710 -804 -889 -829 -876 -968 -1,036 -1,000
Net Cash From Continuing Investing Activities		 -718 -764 -645 -710 -804 -889 -829 -876 -968 -1,036 -1,000
Purchase of Property, Plant & Equipment		 -722 -770 -646 -714 -808 -891 -840 -867 -964 -1,033 -1,004
Purchase of Investments		 -39 -0.08 -0.93 -0.69 -18 -0.49 1.20 -3.06 -32 -4.53 -0.79
Other Investing Activities, net		 5.54 5.35 1.92 4.47 4.32 2.74 9.87 -6.14 -2.10 2.23 4.25
Net Cash From Financing Activities		 441 785 -123 714 103 887 -139 548 110 895 32
Net Cash From Continuing Financing Activities		 441 785 -123 714 103 887 -139 548 110 895 32
Repayment of Debt		 242 -251 -5.74 -2.23 -6.01 -5.99 -4.05 -4.15 -5.34 -15 -4.39
Payment of Dividends		 -111 -120 -122 -125 -126 -135 -138 -138 -141 -160 -164
Issuance of Common Equity		 139 258 4.03 500 3.69 384 3.84 193 134 475 201

Annual Balance Sheets for Atmos Energy

This table presents Atmos Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Total Assets		 9,075 10,011 10,750 11,874 13,368 15,359 19,609 22,193 22,517 25,194 28,250
Total Current Assets		 626 682 540 479 458 471 2,839 3,048 886 1,132 1,053
Cash & Equivalents		 29 48 26 14 25 21 117 52 15 307 203
Restricted Cash		 - - - - - - - 0.00 3.84 1.52 1.12
Accounts Receivable		 295 216 222 253 231 231 343 364 329 366 376
Inventories, net		 237 179 185 166 130 112 178 358 246 170 172
Other Current Assets		 66 88 106 46 73 108 2,201 2,274 292 288 302
Plant, Property, & Equipment, net		 7,431 8,269 9,259 10,371 11,788 13,355 15,064 17,240 19,607 22,204 25,293
Plant, Property & Equipment, gross		 9,240 10,143 11,301 12,567 14,181 15,957 17,885 20,238 22,898 25,848 29,264
Accumulated Depreciation		 1,810 1,874 2,042 2,196 2,393 2,602 2,821 2,998 3,292 3,644 3,971
Total Noncurrent Assets		 1,018 1,061 951 1,024 1,122 1,532 1,706 1,905 2,025 1,858 1,904
Goodwill		 743 727 730 730 731 731 731 731 731 731 731
Intangible Assets		 - - - - - - - 0.00 92 83 75
Other Noncurrent Operating Assets		 275 305 221 294 391 801 975 1,174 1,201 1,044 1,097
Total Liabilities & Shareholders' Equity		 9,075 10,011 10,750 11,874 13,368 15,359 19,609 22,193 22,517 25,194 28,250
Total Liabilities		 5,880 6,548 6,851 7,104 7,617 8,568 11,702 12,774 11,647 13,037 14,691
Total Current Liabilities		 1,155 1,788 1,013 1,915 1,209 782 3,510 3,603 1,353 1,206 1,363
Short-Term Debt		 458 1,080 448 1,151 465 0.17 2,400 2,386 253 9.86 21
Accounts Payable		 239 196 233 217 265 236 423 496 336 445 507
Other Current Liabilities		 458 439 333 547 480 546 687 720 763 751 836
Total Noncurrent Liabilities		 4,725 4,760 5,837 5,189 6,408 7,785 8,191 9,171 10,294 11,831 13,328
Long-Term Debt		 2,438 2,189 3,067 2,494 3,529 4,532 4,930 5,761 6,639 7,861 8,975
Asset Retirement Reserve & Litigation Obligation		 428 424 485 466 473 457 469 488 497 508 532
Noncurrent Deferred & Payable Income Tax Liabilities		 1,411 1,603 1,879 1,894 2,005 2,154 2,255 2,385 2,558 2,771 3,036
Other Noncurrent Operating Liabilities		 162 245 176 158 400 642 537 538 600 692 784
Total Equity & Noncontrolling Interests		 3,195 3,463 3,899 4,770 5,750 6,791 7,907 9,419 10,870 12,158 13,559
Total Preferred & Common Equity		 3,195 3,463 3,899 4,770 5,750 6,791 7,907 9,419 10,870 12,158 13,559
Total Common Equity		 3,195 3,463 3,899 4,770 5,750 6,791 7,907 9,419 10,870 12,158 13,559
Common Stock		 2,231 2,389 2,537 2,975 3,713 4,378 5,024 5,839 6,685 7,475 8,222
Retained Earnings		 1,073 1,263 1,467 1,878 2,152 2,471 2,813 3,211 3,667 4,217 4,862
Accumulated Other Comprehensive Income / (Loss)		 -109 -188 -105 -84 -115 -58 70 369 519 466 475

Quarterly Balance Sheets for Atmos Energy

This table presents Atmos Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 12/31/2025 3/31/2026
Total Assets		 21,772 22,517 23,684 24,005 24,891 25,194 26,497 26,980 27,713 29,798 30,380
Total Current Assets		 889 886 1,680 1,432 1,709 1,132 1,828 1,591 1,552 1,636 1,262
Cash & Equivalents		 56 15 278 262 675 307 585 544 709 367 126
Restricted Cash		 1.88 3.84 7.13 1.27 4.64 1.52 4.87 1.62 4.22 4.49 1.41
Accounts Receivable		 331 329 646 596 392 366 629 661 400 731 645
Inventories, net		 211 246 221 144 158 170 153 97 139 160 136
Other Current Assets		 289 292 527 428 480 288 457 288 300 374 354
Plant, Property, & Equipment, net		 19,018 19,607 20,319 20,815 21,422 22,204 22,962 23,632 24,378 26,268 27,070
Plant, Property & Equipment, gross		 22,224 22,898 23,684 24,284 24,980 25,848 26,676 27,451 28,288 30,322 31,191
Accumulated Depreciation		 3,206 3,292 3,364 3,469 3,558 3,644 3,714 3,819 3,910 4,055 4,121
Total Noncurrent Assets		 1,864 2,025 1,685 1,758 1,761 1,858 1,707 1,757 1,782 1,895 2,048
Goodwill		 731 731 731 731 731 731 731 731 731 731 731
Intangible Assets		 94 92 90 87 85 83 81 79 77 73 70
Other Noncurrent Operating Assets		 1,039 1,201 864 939 944 1,044 895 947 974 1,091 1,246
Total Liabilities & Shareholders' Equity		 21,772 22,517 23,684 24,005 24,891 25,194 26,497 26,980 27,713 29,798 30,380
Total Liabilities		 11,169 11,647 12,411 12,386 12,708 13,037 13,717 13,842 14,327 15,516 15,471
Total Current Liabilities		 1,034 1,353 1,170 1,055 985 1,206 1,175 1,199 1,130 1,447 1,258
Short-Term Debt		 7.51 253 11 9.59 9.62 9.86 20 20 20 11 11
Accounts Payable		 328 336 417 368 319 445 453 445 398 617 467
Other Current Liabilities		 699 763 742 678 656 751 702 733 713 819 780
Total Noncurrent Liabilities		 10,135 10,294 11,241 11,331 11,723 11,831 12,542 12,644 13,196 14,068 14,213
Long-Term Debt		 6,643 6,639 7,529 7,526 7,866 7,861 8,490 8,486 8,981 9,622 9,618
Asset Retirement Reserve & Litigation Obligation		 488 497 498 507 516 508 520 527 530 520 510
Noncurrent Deferred & Payable Income Tax Liabilities		 2,205 2,558 2,611 2,702 2,550 2,771 2,848 2,948 2,857 3,134 3,283
Other Noncurrent Operating Liabilities		 799 600 602 596 791 692 684 682 829 792 802
Total Equity & Noncontrolling Interests		 10,602 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909
Total Preferred & Common Equity		 10,602 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909
Total Common Equity		 10,602 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909
Common Stock		 6,539 6,685 6,947 6,955 7,464 7,475 7,865 7,881 8,080 8,709 8,926
Retained Earnings		 3,659 3,667 3,858 4,168 4,209 4,217 4,433 4,780 4,828 5,104 5,517
Accumulated Other Comprehensive Income / (Loss)		 404 519 469 496 510 466 482 477 478 470 465

Annual Metrics And Ratios for Atmos Energy

This table displays calculated financial ratios and metrics derived from Atmos Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -40.76% -16.14% 12.43% 12.89% -6.86% -2.78% 20.78% 23.31% 1.75% -2.58% 12.91%
EBITDA Growth		 2.60% 7.13% 9.90% 3.46% 6.22% 10.24% 9.60% 7.50% 16.36% 19.75% 13.40%
EBIT Growth		 0.87% 7.46% 10.24% -0.90% 4.97% 10.33% 8.61% 5.74% 19.08% 25.46% 15.66%
NOPAT Growth		 1.69% 10.85% 11.26% 54.13% -18.32% 13.12% 10.77% 13.88% 12.96% 20.95% 10.61%
Net Income Growth		 8.72% 11.12% 13.23% 52.13% -15.20% 17.61% 10.66% 16.35% 14.39% 17.73% 14.94%
EPS Growth		 4.39% 9.39% 10.36% 45.58% -19.89% 12.41% 4.70% 9.38% 8.93% 11.97% 9.22%
Operating Cash Flow Growth		 10.79% -2.08% 9.07% 29.71% -13.86% 7.15% -204.46% 190.16% 253.91% -49.89% 18.21%
Free Cash Flow Firm Growth		 1.14% -850.65% -253.48% 14.02% -148.15% -25.37% -235.65% 49.52% 146.05% -216.05% -64.27%
Invested Capital Growth		 6.41% 8.51% 12.31% 13.72% 15.71% 16.28% 33.78% 15.83% 1.31% 11.14% 13.35%
Revenue Q/Q Growth		 -31.52% 67.81% 1.14% -0.64% -0.04% 1.12% 2.82% 3.81% -3.06% 1.72% 1.72%
EBITDA Q/Q Growth		 -1.76% 4.14% 1.89% 1.43% 2.50% 1.78% 0.15% 4.35% 4.79% 1.94% 1.54%
EBIT Q/Q Growth		 -3.81% 4.09% 0.65% -0.06% 1.40% -0.01% -2.68% 4.14% 5.29% 2.33% 2.41%
NOPAT Q/Q Growth		 -3.15% 5.59% 2.24% -2.21% 2.89% 0.74% -0.68% 1.67% 4.75% 2.02% 2.02%
Net Income Q/Q Growth		 -0.06% 3.16% 0.41% 0.48% 4.00% 1.17% -2.44% 3.05% 5.59% 1.51% 3.53%
EPS Q/Q Growth		 1.64% 2.42% 0.27% -0.37% 4.07% 0.82% -3.40% 2.19% 5.54% 0.74% 3.04%
Operating Cash Flow Q/Q Growth		 -1.01% 9.76% -4.78% -2.78% 7.85% -1.64% -6.72% -2.59% 5.81% 5.63% 0.86%
Free Cash Flow Firm Q/Q Growth		 44.50% 57.31% -96.47% -84.58% -4.23% -14.66% -0.99% -3.83% 17.70% 21.83% -29.79%
Invested Capital Q/Q Growth		 2.70% 0.78% 3.21% 4.33% 4.24% 4.80% 3.72% 3.63% 3.19% 1.75% 3.13%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 55.73% 69.60% 66.46% 62.52% 70.40% 76.65% 69.69% 59.95% 66.03% 77.58% 77.33%
EBITDA Margin		 30.48% 38.94% 38.06% 34.88% 39.78% 45.11% 40.94% 35.69% 40.81% 50.17% 50.39%
Operating Margin		 20.92% 26.77% 26.66% 23.36% 25.71% 29.21% 26.56% 21.92% 24.96% 32.54% 33.17%
EBIT Margin		 20.89% 26.77% 26.24% 23.04% 25.96% 29.47% 26.50% 22.72% 26.59% 34.25% 35.08%
Profit (Net Income) Margin		 10.76% 14.26% 14.36% 19.36% 17.62% 21.32% 19.53% 18.43% 20.72% 25.04% 25.49%
Tax Burden Percent		 63.63% 64.57% 65.62% 98.68% 78.64% 80.54% 81.24% 90.90% 88.62% 84.39% 81.10%
Interest Burden Percent		 80.99% 82.52% 83.41% 85.14% 86.31% 89.84% 90.75% 89.23% 87.93% 86.64% 89.59%
Effective Tax Rate		 38.28% 36.27% 36.65% 1.32% 21.36% 19.46% 18.76% 9.10% 11.38% 15.61% 18.90%
Return on Invested Capital (ROIC)		 6.43% 6.63% 6.67% 9.10% 6.48% 6.31% 5.56% 5.13% 5.36% 6.11% 6.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.13% 4.33% 4.57% 5.86% 4.49% 4.85% 4.38% 4.31% 4.57% 4.71% 5.20%
Return on Net Nonoperating Assets (RNNOA)		 3.61% 3.89% 4.10% 4.81% 3.25% 3.28% 3.49% 3.81% 3.37% 2.95% 3.31%
Return on Equity (ROE)		 10.03% 10.52% 10.77% 13.91% 9.72% 9.59% 9.06% 8.94% 8.73% 9.06% 9.32%
Cash Return on Invested Capital (CROIC)		 0.22% -1.54% -4.92% -3.74% -8.09% -8.74% -23.34% -9.54% 4.07% -4.44% -6.50%
Operating Return on Assets (OROA)		 6.92% 6.88% 6.98% 6.35% 5.97% 5.79% 5.16% 4.57% 5.09% 5.98% 6.17%
Return on Assets (ROA)		 3.57% 3.67% 3.82% 5.33% 4.05% 4.19% 3.81% 3.71% 3.96% 4.37% 4.49%
Return on Common Equity (ROCE)		 10.03% 10.52% 10.77% 13.91% 9.72% 9.59% 9.06% 8.94% 8.73% 9.06% 9.32%
Return on Equity Simple (ROE_SIMPLE)		 9.86% 10.11% 10.17% 12.64% 8.89% 8.86% 8.42% 8.22% 8.15% 8.58% 0.00%
Net Operating Profit after Tax (NOPAT)		 378 419 466 718 587 664 735 837 946 1,144 1,265
NOPAT Margin		 12.91% 17.06% 16.89% 23.06% 20.22% 23.53% 21.58% 19.93% 22.12% 27.46% 26.90%
Net Nonoperating Expense Percent (NNEP)		 2.29% 2.30% 2.11% 3.24% 1.98% 1.47% 1.19% 0.82% 0.80% 1.40% 0.81%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - - 5.61%
Cost of Revenue to Revenue		 44.27% 30.40% 33.54% 37.48% 29.60% 23.35% 30.31% 40.05% 33.97% 22.42% 22.67%
SG&A Expenses to Revenue		 17.64% 21.94% 19.52% 19.09% 21.72% 22.32% 19.93% 16.90% 17.89% 19.67% 19.20%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 34.82% 42.83% 39.81% 39.15% 44.69% 47.43% 43.13% 38.03% 41.07% 45.04% 44.16%
Earnings before Interest and Taxes (EBIT)		 611 657 724 718 753 831 903 955 1,137 1,426 1,650
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 892 956 1,050 1,087 1,154 1,273 1,395 1,500 1,745 2,089 2,369
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.50 1.86 1.94 1.90 2.08 1.57 1.36 1.43 1.41 1.77 2.02
Price to Tangible Book Value (P/TBV)		 1.95 2.35 2.39 2.25 2.38 1.76 1.50 1.56 1.52 1.90 2.15
Price to Revenue (P/Rev)		 1.63 2.62 2.74 2.91 4.12 3.79 3.15 3.22 3.58 5.17 5.83
Price to Earnings (P/E)		 15.18 18.35 19.07 15.05 23.35 17.78 16.13 17.45 17.27 20.65 22.86
Dividend Yield		 3.31% 2.72% 2.53% 2.38% 2.08% 2.65% 3.05% 2.82% 2.87% 2.32% 2.04%
Earnings Yield		 6.59% 5.45% 5.25% 6.64% 4.28% 5.63% 6.20% 5.73% 5.79% 4.84% 4.37%
Enterprise Value to Invested Capital (EV/IC)		 1.26 1.47 1.50 1.51 1.64 1.35 1.19 1.23 1.25 1.48 1.62
Enterprise Value to Revenue (EV/Rev)		 2.61 3.93 4.00 4.08 5.48 5.39 5.27 5.14 5.19 6.99 7.70
Enterprise Value to EBITDA (EV/EBITDA)		 8.57 10.09 10.52 11.69 13.79 11.95 12.87 14.41 12.71 13.92 15.28
Enterprise Value to EBIT (EV/EBIT)		 12.51 14.68 15.25 17.70 21.12 18.29 19.88 22.63 19.50 20.40 21.94
Enterprise Value to NOPAT (EV/NOPAT)		 20.24 23.03 23.70 17.69 27.12 22.91 24.41 25.81 23.45 25.44 28.61
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.42 12.13 12.74 11.30 16.43 14.65 0.00 22.11 6.41 16.78 17.66
Enterprise Value to Free Cash Flow (EV/FCFF)		 590.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 30.93 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.91 0.94 0.90 0.76 0.69 0.67 0.93 0.87 0.63 0.65 0.66
Long-Term Debt to Equity		 0.76 0.63 0.79 0.52 0.61 0.67 0.62 0.61 0.61 0.65 0.66
Financial Leverage		 0.87 0.90 0.90 0.82 0.72 0.68 0.80 0.88 0.74 0.63 0.64
Leverage Ratio		 2.81 2.87 2.82 2.61 2.40 2.29 2.38 2.41 2.20 2.07 2.08
Compound Leverage Factor		 2.28 2.37 2.35 2.22 2.07 2.06 2.16 2.15 1.94 1.80 1.86
Debt to Total Capital		 47.54% 48.56% 47.41% 43.31% 40.99% 40.02% 48.11% 46.38% 38.80% 39.30% 39.88%
Short-Term Debt to Total Capital		 7.52% 16.04% 6.04% 13.68% 4.77% 0.00% 15.75% 13.59% 1.43% 0.05% 0.09%
Long-Term Debt to Total Capital		 40.02% 32.51% 41.37% 29.64% 36.22% 40.02% 32.36% 32.79% 37.38% 39.25% 39.79%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 52.46% 51.44% 52.59% 56.69% 59.01% 59.98% 51.89% 53.62% 61.20% 60.70% 60.12%
Debt to EBITDA		 3.25 3.42 3.35 3.35 3.46 3.56 5.26 5.43 3.95 3.77 3.80
Net Debt to EBITDA		 3.21 3.37 3.32 3.34 3.44 3.54 5.17 5.40 3.94 3.62 3.71
Long-Term Debt to EBITDA		 2.73 2.29 2.92 2.29 3.06 3.56 3.53 3.84 3.80 3.76 3.79
Debt to NOPAT		 7.66 7.80 7.54 5.07 6.81 6.83 9.97 9.73 7.29 6.88 7.11
Net Debt to NOPAT		 7.59 7.69 7.49 5.05 6.77 6.80 9.81 9.67 7.27 6.61 6.95
Long-Term Debt to NOPAT		 6.45 5.23 6.58 3.47 6.02 6.83 6.71 6.88 7.02 6.87 7.09
Altman Z-Score		 1.13 1.09 1.28 1.30 1.50 1.31 1.04 1.14 1.35 1.57 1.71
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.54 0.38 0.53 0.25 0.38 0.60 0.81 0.85 0.65 0.94 0.77
Quick Ratio		 0.28 0.15 0.25 0.14 0.21 0.32 0.13 0.12 0.25 0.56 0.42
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 13 -97 -343 -295 -733 -919 -3,083 -1,557 717 -832 -1,367
Operating Cash Flow to CapEx		 84.26% 73.14% 70.89% 76.63% 57.21% 53.62% -55.05% 39.99% 123.30% 59.03% 57.55%
Free Cash Flow to Firm to Interest Expense		 0.11 -0.85 -2.86 -2.77 -7.10 -10.87 -36.90 -15.14 5.22 -4.36 -7.96
Operating Cash Flow to Interest Expense		 6.98 6.92 7.21 10.55 9.39 12.29 -12.98 9.51 25.20 9.09 11.94
Operating Cash Flow Less CapEx to Interest Expense		 -1.31 -2.54 -2.96 -3.22 -7.03 -10.63 -36.55 -14.27 4.76 -6.31 -8.81
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.33 0.26 0.27 0.28 0.23 0.20 0.19 0.20 0.19 0.17 0.18
Accounts Receivable Turnover		 9.17 9.61 12.60 13.10 11.99 12.23 11.88 11.89 12.35 11.99 12.69
Inventory Turnover		 5.03 3.59 5.09 6.67 5.81 5.44 7.12 6.28 4.81 4.50 6.25
Fixed Asset Turnover		 0.41 0.31 0.31 0.32 0.26 0.22 0.24 0.26 0.23 0.20 0.20
Accounts Payable Turnover		 4.74 3.43 4.31 5.19 3.56 2.63 3.13 3.66 3.49 2.39 2.24
Days Sales Outstanding (DSO)		 39.81 38.00 28.97 27.86 30.43 29.83 30.72 30.69 29.55 30.43 28.77
Days Inventory Outstanding (DIO)		 72.61 101.66 71.72 54.75 62.87 67.06 51.26 58.14 75.88 81.18 58.42
Days Payable Outstanding (DPO)		 77.05 106.49 84.70 70.37 102.49 138.72 116.46 99.70 104.57 152.75 162.96
Cash Conversion Cycle (CCC)		 35.38 33.16 16.00 12.24 -9.19 -41.83 -34.48 -10.87 0.86 -41.13 -75.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,062 6,578 7,387 8,401 9,720 11,302 15,121 17,515 17,743 19,719 22,351
Invested Capital Turnover		 0.50 0.39 0.40 0.39 0.32 0.27 0.26 0.26 0.24 0.22 0.22
Increase / (Decrease) in Invested Capital		 365 516 809 1,014 1,319 1,582 3,818 2,394 229 1,976 2,632
Enterprise Value (EV)		 7,649 9,646 11,046 12,708 15,913 15,203 17,946 21,610 22,173 29,094 36,202
Market Capitalization		 4,782 6,425 7,558 9,077 11,944 10,692 10,732 13,514 15,300 21,532 27,409
Book Value per Share		 $31.52 $33.35 $36.76 $42.90 $48.65 $55.05 $60.45 $67.33 $73.22 $78.32 $84.47
Tangible Book Value per Share		 $24.19 $26.35 $29.87 $36.33 $42.47 $49.13 $54.86 $62.10 $67.67 $73.07 $79.44
Total Capital		 6,090 6,732 7,413 8,414 9,745 11,323 15,238 17,566 17,763 20,028 22,555
Total Debt		 2,895 3,269 3,515 3,644 3,994 4,532 7,331 8,147 6,893 7,870 8,996
Total Long-Term Debt		 2,438 2,189 3,067 2,494 3,529 4,532 4,930 5,761 6,639 7,861 8,975
Net Debt		 2,867 3,221 3,488 3,631 3,970 4,511 7,214 8,096 6,873 7,562 8,792
Capital Expenditures (CapEx)		 964 1,087 1,223 1,468 1,693 1,936 1,970 2,444 2,806 2,937 3,561
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -99 -74 -52 -299 -311 -332 1,612 1,780 -233 -373 -493
Debt-free Net Working Capital (DFNWC)		 -71 -27 -26 -285 -286 -311 1,729 1,832 -213 -64 -289
Net Working Capital (NWC)		 -529 -1,107 -474 -1,436 -751 -311 -672 -555 -467 -74 -310
Net Nonoperating Expense (NNE)		 63 69 70 115 75 62 70 63 60 101 66
Net Nonoperating Obligations (NNO)		 2,867 3,115 3,488 3,631 3,970 4,511 7,214 8,096 6,873 7,562 8,792
Total Depreciation and Amortization (D&A)		 281 299 326 369 401 441 492 545 608 663 720
Debt-free, Cash-free Net Working Capital to Revenue		 -3.39% -3.03% -1.90% -9.61% -10.72% -11.76% 47.31% 42.36% -5.44% -8.94% -10.49%
Debt-free Net Working Capital to Revenue		 -2.41% -1.09% -0.94% -9.16% -9.87% -11.02% 50.74% 43.59% -4.99% -1.53% -6.15%
Net Working Capital to Revenue		 -18.06% -45.08% -17.17% -46.10% -25.89% -11.03% -19.71% -13.21% -10.92% -1.77% -6.59%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.09 $3.38 $3.73 $5.43 $4.36 $4.89 $5.12 $5.61 $6.10 $6.83 $7.54
Adjusted Weighted Average Basic Shares Outstanding		 101.89M 103.52M 106.11M 111.35M 117.20M 122.79M 129.78M 137.83M 145.12M 152.51M 158.94M
Adjusted Diluted Earnings per Share		 $3.09 $3.38 $3.73 $5.43 $4.35 $4.89 $5.12 $5.60 $6.10 $6.83 $7.46
Adjusted Weighted Average Diluted Shares Outstanding		 101.89M 103.52M 106.11M 111.35M 117.46M 122.87M 129.83M 138.10M 145.17M 152.67M 160.57M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $3.73 $5.43 $4.36 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 101.51M 103.96M 106.10M 111.01M 119.34M 125.89M 132.43M 140.90M 148.50M 155.40M 161.69M
Normalized Net Operating Profit after Tax (NOPAT)		 378 419 466 718 587 664 735 837 946 1,144 1,265
Normalized NOPAT Margin		 12.91% 17.06% 16.89% 23.06% 20.22% 23.53% 21.58% 19.93% 22.12% 27.46% 26.90%
Pre Tax Income Margin		 16.92% 22.09% 21.89% 19.62% 22.41% 26.47% 24.04% 20.28% 23.38% 29.67% 31.43%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.26 5.72 6.03 6.73 7.30 9.84 10.81 9.29 8.28 7.48 9.61
NOPAT to Interest Expense		 3.25 3.65 3.88 6.74 5.69 7.86 8.80 8.14 6.89 6.00 7.37
EBIT Less CapEx to Interest Expense		 -3.03 -3.74 -4.15 -7.03 -9.11 -13.07 -12.77 -14.49 -12.16 -7.92 -11.14
NOPAT Less CapEx to Interest Expense		 -5.04 -5.82 -6.30 -7.03 -10.73 -15.06 -14.77 -15.63 -13.55 -9.41 -13.38
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 50.79% 50.02% 48.42% 35.64% 48.05% 46.96% 48.67% 48.54% 48.58% 47.27% 46.19%
Augmented Payout Ratio		 43.50% 40.23% 48.42% 35.64% 48.05% 46.96% 48.67% 48.54% 48.58% 47.27% 46.19%

Quarterly Metrics And Ratios for Atmos Energy

This table displays calculated financial ratios and metrics derived from Atmos Energy's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 165,438,946.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 165,438,946.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 3.52
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -18.68% -21.94% 6.90% 5.86% 11.96% 1.51% 18.41% 19.56% 12.09% 14.17% 0.61%
EBITDA Growth		 30.21% 19.08% 24.54% 21.07% 14.22% 14.28% 14.07% 12.52% 13.59% 10.08% 17.01%
EBIT Growth		 51.02% 21.79% 29.00% 29.52% 19.22% 16.10% 15.05% 13.33% 19.22% 10.92% 19.78%
NOPAT Growth		 48.20% 19.10% 23.79% 21.06% 16.90% 10.19% 8.97% 11.19% 15.82% 9.86% 19.80%
Net Income Growth		 65.44% 14.50% 20.79% 20.14% 13.07% 13.03% 12.40% 12.60% 30.50% 14.52% 19.84%
EPS Growth		 71.11% 8.90% 14.92% 14.89% 6.49% 7.21% 6.32% 7.41% 26.83% 9.42% 14.52%
Operating Cash Flow Growth		 393.57% 29.85% -72.39% 25.06% 38.81% 14.98% 23.62% 20.72% 5.27% 9.23% -21.61%
Free Cash Flow Firm Growth		 95.84% 110.68% -2,598.20% -1,306.37% -1,799.95% -882.63% 3.34% -4.35% -34.69% -35.23% -58.89%
Invested Capital Growth		 1.31% 0.60% 13.36% 12.71% 11.14% 11.73% 11.69% 11.83% 13.35% 13.73% 15.69%
Revenue Q/Q Growth		 -11.33% 97.14% 42.19% -57.41% -6.22% 78.74% 65.86% -57.00% -12.08% 82.05% 46.17%
EBITDA Q/Q Growth		 -2.32% 77.13% 25.99% -44.46% -7.85% 77.23% 25.76% -45.21% -6.98% 71.75% 33.67%
EBIT Q/Q Growth		 -8.82% 146.63% 36.14% -57.69% -16.07% 140.17% 34.91% -58.33% -11.70% 123.45% 45.68%
NOPAT Q/Q Growth		 -12.11% 155.77% 36.57% -60.57% -15.13% 141.09% 35.06% -59.76% -11.60% 128.69% 47.28%
Net Income Q/Q Growth		 -13.99% 162.64% 38.78% -61.68% -19.05% 162.55% 38.00% -61.61% -6.19% 130.41% 44.40%
EPS Q/Q Growth		 -18.09% 170.13% 37.02% -62.11% -24.07% 171.95% 35.87% -61.72% -10.34% 134.62% 42.21%
Operating Cash Flow Q/Q Growth		 -27.54% 2.96% 204.38% -44.92% -19.58% -14.72% 227.26% -46.22% -29.87% -11.51% 134.85%
Free Cash Flow Firm Q/Q Growth		 32.71% 339.77% -866.73% -13.68% 9.09% 1.23% 5.31% -22.73% -17.34% 0.84% -11.26%
Invested Capital Q/Q Growth		 3.19% 4.42% 1.95% 2.59% 1.75% 4.98% 1.92% 2.72% 3.13% 5.34% 3.68%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 99.46% 70.75% 62.10% 100.37% 104.09% 80.10% 60.05% 93.58% 100.14% 77.95% 65.99%
EBITDA Margin		 55.87% 50.20% 44.48% 58.01% 57.00% 56.52% 42.85% 54.60% 57.76% 54.49% 49.84%
Operating Margin		 26.22% 34.45% 33.45% 31.40% 28.12% 39.07% 32.25% 30.05% 29.76% 38.34% 38.97%
EBIT Margin		 28.77% 36.00% 34.46% 34.23% 30.64% 41.17% 33.48% 32.45% 32.59% 40.00% 39.87%
Profit (Net Income) Margin		 20.17% 26.87% 26.23% 23.60% 20.37% 29.92% 24.89% 22.23% 23.71% 30.01% 29.65%
Tax Burden Percent		 86.35% 85.26% 84.34% 83.20% 84.06% 81.60% 80.51% 80.83% 82.06% 80.02% 79.32%
Interest Burden Percent		 81.18% 87.56% 90.23% 82.86% 79.09% 89.07% 92.34% 84.74% 88.68% 93.78% 93.77%
Effective Tax Rate		 13.65% 14.74% 15.66% 16.80% 15.94% 18.40% 19.49% 19.17% 17.94% 19.98% 20.68%
Return on Invested Capital (ROIC)		 5.49% 6.28% 6.44% 5.85% 5.26% 6.80% 5.82% 5.47% 5.46% 6.75% 6.63%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.30% 5.91% 5.96% 5.59% 4.96% 6.49% 5.55% 5.25% 5.40% 6.65% 6.35%
Return on Net Nonoperating Assets (RNNOA)		 3.91% 4.44% 3.75% 3.38% 3.11% 4.10% 3.42% 3.18% 3.43% 4.22% 3.95%
Return on Equity (ROE)		 9.40% 10.72% 10.19% 9.23% 8.36% 10.90% 9.24% 8.65% 8.89% 10.97% 10.58%
Cash Return on Invested Capital (CROIC)		 4.07% 4.82% -6.39% -5.82% -4.44% -5.07% -4.95% -5.13% -6.50% -6.97% -8.39%
Operating Return on Assets (OROA)		 5.50% 6.04% 6.17% 6.01% 5.35% 6.86% 5.89% 5.70% 5.73% 6.92% 6.78%
Return on Assets (ROA)		 3.86% 4.51% 4.70% 4.14% 3.56% 4.99% 4.38% 3.91% 4.17% 5.19% 5.05%
Return on Common Equity (ROCE)		 9.40% 10.72% 10.19% 9.23% 8.36% 10.90% 9.24% 8.65% 8.89% 10.97% 10.58%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.21% 8.60% 8.43% 0.00% 8.48% 8.65% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 133 340 465 183 156 375 506 204 180 412 607
NOPAT Margin		 22.64% 29.37% 28.21% 26.12% 23.64% 31.88% 25.96% 24.29% 24.42% 30.68% 30.91%
Net Nonoperating Expense Percent (NNEP)		 0.19% 0.37% 0.48% 0.26% 0.30% 0.30% 0.27% 0.22% 0.06% 0.10% 0.28%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.81% - - - 1.76% 2.34% 0.91% 0.80% 1.72% 2.47%
Cost of Revenue to Revenue		 0.54% 29.25% 37.90% -0.37% -4.09% 19.90% 39.95% 6.42% -0.14% 22.05% 34.01%
SG&A Expenses to Revenue		 32.35% 14.36% 12.14% 30.12% 36.72% 17.61% 11.96% 26.48% 32.61% 17.12% 9.98%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 73.24% 36.30% 28.65% 68.97% 75.97% 41.03% 27.80% 63.53% 70.38% 39.61% 27.02%
Earnings before Interest and Taxes (EBIT)		 169 417 568 240 202 484 653 272 240 537 782
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 328 582 733 407 375 665 836 458 426 732 978
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.41 1.49 1.53 1.44 1.77 1.69 1.87 1.83 2.02 1.90 2.05
Price to Tangible Book Value (P/TBV)		 1.52 1.60 1.65 1.55 1.90 1.81 1.99 1.95 2.15 2.01 2.17
Price to Revenue (P/Rev)		 3.58 4.24 4.39 4.30 5.17 5.17 5.47 5.29 5.83 5.57 6.26
Price to Earnings (P/E)		 17.27 18.12 17.81 17.13 20.65 19.98 21.58 21.14 22.86 21.69 22.70
Dividend Yield		 2.87% 2.68% 2.62% 2.70% 2.32% 2.36% 2.17% 2.22% 2.04% 2.15% 2.02%
Earnings Yield		 5.79% 5.52% 5.61% 5.84% 4.84% 5.01% 4.63% 4.73% 4.37% 4.61% 4.41%
Enterprise Value to Invested Capital (EV/IC)		 1.25 1.30 1.33 1.28 1.48 1.43 1.54 1.51 1.62 1.54 1.64
Enterprise Value to Revenue (EV/Rev)		 5.19 6.08 6.18 6.06 6.99 7.07 7.24 7.09 7.70 7.47 8.21
Enterprise Value to EBITDA (EV/EBITDA)		 12.71 13.09 12.67 12.10 13.92 13.56 14.24 14.04 15.28 14.83 15.45
Enterprise Value to EBIT (EV/EBIT)		 19.50 19.82 18.72 17.79 20.40 19.79 20.58 20.34 21.94 21.36 21.87
Enterprise Value to NOPAT (EV/NOPAT)		 23.45 24.01 23.02 22.12 25.44 25.09 26.65 26.42 28.61 27.93 28.57
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.41 6.83 16.09 15.11 16.78 16.70 16.69 16.12 17.66 17.52 21.35
Enterprise Value to Free Cash Flow (EV/FCFF)		 30.93 26.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.63 0.67 0.65 0.65 0.65 0.67 0.65 0.67 0.66 0.67 0.65
Long-Term Debt to Equity		 0.61 0.67 0.65 0.65 0.65 0.66 0.65 0.67 0.66 0.67 0.65
Financial Leverage		 0.74 0.75 0.63 0.61 0.63 0.63 0.62 0.61 0.64 0.63 0.62
Leverage Ratio		 2.20 2.23 2.08 2.05 2.07 2.09 2.06 2.06 2.08 2.08 2.05
Compound Leverage Factor		 1.79 1.95 1.87 1.70 1.64 1.86 1.90 1.74 1.84 1.95 1.92
Debt to Total Capital		 38.80% 40.08% 39.34% 39.26% 39.30% 39.97% 39.30% 40.21% 39.88% 40.28% 39.24%
Short-Term Debt to Total Capital		 1.43% 0.06% 0.05% 0.05% 0.05% 0.09% 0.09% 0.09% 0.09% 0.05% 0.05%
Long-Term Debt to Total Capital		 37.38% 40.02% 39.29% 39.22% 39.25% 39.88% 39.21% 40.12% 39.79% 40.23% 39.20%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 61.20% 59.92% 60.66% 60.74% 60.70% 60.03% 60.70% 59.79% 60.12% 59.72% 60.76%
Debt to EBITDA		 3.95 4.11 3.81 3.84 3.77 3.90 3.73 3.86 3.80 3.93 3.71
Net Debt to EBITDA		 3.94 3.96 3.67 3.51 3.62 3.63 3.49 3.55 3.71 3.78 3.66
Long-Term Debt to EBITDA		 3.80 4.10 3.80 3.84 3.76 3.90 3.72 3.85 3.79 3.93 3.71
Debt to NOPAT		 7.29 7.54 6.92 7.02 6.88 7.22 6.98 7.26 7.11 7.40 6.87
Net Debt to NOPAT		 7.27 7.25 6.68 6.42 6.61 6.72 6.53 6.68 6.95 7.11 6.78
Long-Term Debt to NOPAT		 7.02 7.53 6.91 7.02 6.87 7.21 6.96 7.24 7.09 7.39 6.86
Altman Z-Score		 1.21 1.29 1.37 1.30 1.41 1.43 1.58 1.49 1.54 1.52 1.69
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.65 1.44 1.36 1.73 0.94 1.56 1.33 1.37 0.77 1.13 1.00
Quick Ratio		 0.25 0.79 0.81 1.08 0.56 1.03 1.00 0.98 0.42 0.76 0.61
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -96 230 -1,761 -2,002 -1,820 -1,798 -1,702 -2,089 -2,452 -2,431 -2,705
Operating Cash Flow to CapEx		 32.97% 31.87% 115.59% 57.62% 40.93% 31.65% 109.92% 57.26% 36.13% 29.81% 72.09%
Free Cash Flow to Firm to Interest Expense		 -3.01 4.43 -31.77 -48.64 -43.18 -33.97 -34.04 -50.30 -90.13 -72.76 -55.50
Operating Cash Flow to Interest Expense		 7.49 4.73 13.47 9.99 7.84 5.33 18.45 11.95 12.80 9.22 14.85
Operating Cash Flow Less CapEx to Interest Expense		 -15.22 -10.11 1.82 -7.35 -11.32 -11.51 1.67 -8.92 -22.63 -21.71 -5.75
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.19 0.17 0.18 0.18 0.17 0.17 0.18 0.18 0.18 0.17 0.17
Accounts Receivable Turnover		 12.35 5.36 7.24 11.34 11.99 6.56 7.14 11.69 12.69 7.16 7.48
Inventory Turnover		 4.81 3.87 6.17 5.22 4.50 4.43 8.15 7.01 6.25 7.22 8.72
Fixed Asset Turnover		 0.23 0.21 0.21 0.20 0.20 0.19 0.20 0.20 0.20 0.20 0.19
Accounts Payable Turnover		 3.49 2.12 2.76 2.98 2.39 1.91 2.42 2.90 2.24 2.11 2.23
Days Sales Outstanding (DSO)		 29.55 68.05 50.40 32.19 30.43 55.64 51.14 31.23 28.77 50.97 48.80
Days Inventory Outstanding (DIO)		 75.88 94.41 59.14 69.87 81.18 82.34 44.78 52.10 58.42 50.57 41.87
Days Payable Outstanding (DPO)		 104.57 171.86 132.31 122.57 152.75 191.50 150.84 125.78 162.96 173.10 163.85
Cash Conversion Cycle (CCC)		 0.86 -9.40 -22.76 -20.51 -41.13 -53.51 -54.92 -42.44 -75.77 -71.56 -73.18
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 17,743 18,529 18,891 19,380 19,719 20,701 21,099 21,673 22,351 23,544 24,411
Invested Capital Turnover		 0.24 0.21 0.23 0.22 0.22 0.21 0.22 0.23 0.22 0.22 0.21
Increase / (Decrease) in Invested Capital		 229 111 2,226 2,185 1,976 2,173 2,209 2,293 2,632 2,843 3,311
Enterprise Value (EV)		 22,173 24,017 25,076 24,797 29,094 29,563 32,498 32,766 36,202 36,366 40,062
Market Capitalization		 15,300 16,762 17,804 17,600 21,532 21,642 24,536 24,478 27,409 27,105 30,560
Book Value per Share		 $73.22 $75.26 $77.03 $80.75 $78.32 $82.24 $82.77 $84.27 $84.47 $88.33 $90.12
Tangible Book Value per Share		 $67.67 $69.77 $71.60 $75.34 $73.07 $77.02 $77.67 $79.18 $79.44 $83.36 $85.27
Total Capital		 17,763 18,814 19,154 20,059 20,028 21,291 21,644 22,387 22,555 23,916 24,538
Total Debt		 6,893 7,541 7,536 7,876 7,870 8,510 8,506 9,001 8,996 9,633 9,629
Total Long-Term Debt		 6,639 7,529 7,526 7,866 7,861 8,490 8,486 8,981 8,975 9,622 9,618
Net Debt		 6,873 7,255 7,272 7,197 7,562 7,921 7,961 8,287 8,792 9,261 9,502
Capital Expenditures (CapEx)		 722 770 646 714 808 891 840 867 964 1,033 1,004
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -233 235 123 54 -373 84 -132 -272 -493 -172 -112
Debt-free Net Working Capital (DFNWC)		 -213 521 387 733 -64 673 413 442 -289 200 15
Net Working Capital (NWC)		 -467 509 377 724 -74 653 393 422 -310 189 3.53
Net Nonoperating Expense (NNE)		 15 29 33 18 22 23 21 17 5.22 8.95 25
Net Nonoperating Obligations (NNO)		 6,873 7,255 7,272 7,197 7,562 7,921 7,961 8,287 8,792 9,261 9,502
Total Depreciation and Amortization (D&A)		 159 165 165 167 173 181 183 186 186 195 196
Debt-free, Cash-free Net Working Capital to Revenue		 -5.44% 5.96% 3.03% 1.32% -8.94% 2.00% -2.95% -5.88% -10.49% -3.53% -2.30%
Debt-free Net Working Capital to Revenue		 -4.99% 13.18% 9.54% 17.91% -1.53% 16.09% 9.20% 9.55% -6.15% 4.10% 0.30%
Net Working Capital to Revenue		 -10.92% 12.89% 9.30% 17.67% -1.77% 15.62% 8.76% 9.12% -6.59% 3.88% 0.07%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.76 $2.08 $2.85 $1.08 $0.82 $2.25 $3.05 $1.17 $1.07 $2.48 $3.49
Adjusted Weighted Average Basic Shares Outstanding		 145.12M 149.80M 151.27M 153.31M 152.51M 156.30M 159.18M 159.29M 158.94M 162.73M 166.46M
Adjusted Diluted Earnings per Share		 $0.77 $2.08 $2.85 $1.08 $0.82 $2.23 $3.03 $1.16 $1.04 $2.44 $3.47
Adjusted Weighted Average Diluted Shares Outstanding		 145.17M 149.80M 151.30M 153.40M 152.67M 157.82M 160.43M 161.17M 160.57M 164.87M 167.81M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 148.50M 150.84M 150.88M 155.23M 155.40M 158.73M 158.84M 160.52M 161.69M 165.44M 166.92M
Normalized Net Operating Profit after Tax (NOPAT)		 133 340 465 183 156 375 506 204 180 412 607
Normalized NOPAT Margin		 22.64% 29.37% 28.21% 26.12% 23.64% 31.88% 25.96% 24.29% 24.42% 30.68% 30.91%
Pre Tax Income Margin		 23.36% 31.52% 31.10% 28.37% 24.23% 36.67% 30.92% 27.50% 28.90% 37.51% 37.38%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.31 8.04 10.24 5.83 4.78 9.15 13.06 6.55 8.83 16.07 16.05
NOPAT to Interest Expense		 4.18 6.56 8.38 4.45 3.69 7.08 10.12 4.91 6.62 12.33 12.45
EBIT Less CapEx to Interest Expense		 -17.39 -6.80 -1.41 -11.50 -14.39 -7.69 -3.73 -14.32 -26.59 -14.86 -4.54
NOPAT Less CapEx to Interest Expense		 -18.53 -8.28 -3.27 -12.89 -15.48 -9.75 -6.66 -15.97 -28.80 -18.60 -8.15
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 48.58% 48.17% 46.13% 46.52% 47.27% 46.93% 46.20% 46.51% 46.19% 46.30% 44.90%
Augmented Payout Ratio		 48.58% 48.17% 46.13% 46.52% 47.27% 46.93% 46.20% 46.51% 46.19% 46.30% 44.90%

Financials Breakdown Chart

Key Financial Trends

Atmos Energy (NYSE: ATO) has shown a mix of strong earnings in recent quarters and ongoing heavy asset investment. Here are the most relevant trends drawn from the last four years of quarterly statements (cash flow, income statement, and balance sheet) with a focus on how they may affect investors.

  • Quarterly net income remains solid and rising in early 2026: Q1 2026 Consolidated Net Income / Net Income continuing operations is $402,964,000, with basic EPS of $2.48 and diluted EPS of $2.44, indicating a profitable start to 2026 compared with recent prior quarters.
  • Significant operating cash flow supports ongoing activities: Net cash from continuing operating activities was $308,058,000 in Q1 2026, reflecting ongoing cash generation from core operations and contributing to liquidity.
  • Strong financing activity in Q1 2026 signals access to capital markets: Net cash from financing activities in Q1 2026 was about $895,293,000, suggesting the ability to raise funds for capex and capital returns when needed.
  • Liquidity appears solid on the balance sheet: In Q1 2026, Cash & Equivalents were $367,023,000 with Total Current Assets of $1.6358B and Total Current Liabilities of $1.4470B, yielding a current ratio around 1.13x.
  • Dividend per share remains stable, supporting income investors: Cash dividends per share were reported at $1.00 for Q1 2026, indicating ongoing cash returns to shareholders.
  • Capital expenditure is consistently meaningful: Purchases of Property, Plant & Equipment run around the $0.86B–$1.04B range per quarter in 2025–2026, signaling continued investment in utility infrastructure.
  • Revenue scales with notable quarterly variability: For example, Q1 2026 Revenue was about $1.343B, while other quarters (e.g., 2025 Q2) show higher revenue levels that reflect seasonality and regulatory mechanics common to utilities.
  • Financing mix shifts over time: Periods show issuance of debt or equity and assorted financing flows, signaling management’s approach to funding large capex programs while balancing capital structure.
  • Free cash flow often negative due to heavy capex: In Q1 2026, CFO of $308M minus PPE purchases of about $1.033B yields a negative near-term free cash flow, underscoring the cash outlays required for asset growth and maintenance.
  • Investing cash outflows are consistently large: Net cash from investing activities in Q1 2026 was around -$1.036B, with similar sizable outlays in recent quarters (e.g., Q4 2025, Q3 2025, Q2 2025, and Q1 2025), reflecting ongoing capex intensity.
  • Elevated leverage metrics persist: Long-term debt remains substantial (around $9.6B–$9.8B across periods) and total liabilities sit around $12.5B–$15.5B depending on quarter, highlighting high, asset-backed leverage typical of regulated utilities.
  • Cash burn from investing activities and periodic negative net cash changes: Several quarters show negative net change in cash from operations plus investing activity (e.g., Q4 2025 net change around -$509.8M), indicating cash flow variability tied to large capex programs.
05/08/26 09:12 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Atmos Energy's Financials

When does Atmos Energy's fiscal year end?

According to the most recent income statement we have on file, Atmos Energy's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

How has Atmos Energy's net income changed over the last 10 years?

Atmos Energy's net income appears to be on an upward trend, with a most recent value of $1.20 billion in 2025, rising from $315.08 million in 2015. The previous period was $1.04 billion in 2024. View Atmos Energy's forecast to see where analysts expect Atmos Energy to go next.

What is Atmos Energy's operating income?
Atmos Energy's total operating income in 2025 was $1.56 billion, based on the following breakdown:
  • Total Gross Profit: $3.64 billion
  • Total Operating Expenses: $2.08 billion
How has Atmos Energy's revenue changed over the last 10 years?

Over the last 10 years, Atmos Energy's total revenue changed from $2.93 billion in 2015 to $4.70 billion in 2025, a change of 60.7%.

How much debt does Atmos Energy have?

Atmos Energy's total liabilities were at $14.69 billion at the end of 2025, a 12.7% increase from 2024, and a 149.8% increase since 2015.

How much cash does Atmos Energy have?

In the past 10 years, Atmos Energy's cash and equivalents has ranged from $13.77 million in 2018 to $307.34 million in 2024, and is currently $202.69 million as of their latest financial filing in 2025.

How has Atmos Energy's book value per share changed over the last 10 years?

Over the last 10 years, Atmos Energy's book value per share changed from 31.52 in 2015 to 84.47 in 2025, a change of 168.0%.


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Financial statements for NYSE:ATO last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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