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Atmos Energy (ATO) Financials

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$169.53 -0.39 (-0.23%)
As of 09:45 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 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 311 432 166 134 352 486 186 175 403 582 243
Consolidated Net Income / (Loss)		 311 432 166 134 352 486 186 175 403 582 243
Net Income / (Loss) Continuing Operations		 311 432 166 134 352 486 186 175 403 582 243
Total Pre-Tax Income 		365 512 199 159 431 603 231 213 504 734 303
Total Operating Income		 399 551 220 185 459 629 252 219 515 765 320
Total Gross Profit		 820 1,023 704 685 942 1,171 785 739 1,047 1,295 871
Total Revenue		 1,158 1,647 702 658 1,176 1,951 839 737 1,343 1,962 879
Operating Revenue		 1,158 1,647 702 658 1,176 1,951 839 737 1,343 1,962 879
Total Cost of Revenue		 339 624 -2.59 -27 234 779 54 -1.07 296 667 8.21
Operating Cost of Revenue		 339 624 -2.59 -27 234 779 54 -1.07 296 667 8.21
Total Operating Expenses		 420 472 484 500 482 542 533 519 532 530 550
Selling, General & Admin Expense		 166 200 211 242 207 233 222 241 230 196 223
Depreciation Expense		 165 165 167 173 181 183 186 186 195 196 202
Other Operating Expenses / (Income)		 90 107 106 85 95 126 125 93 107 139 126
Total Other Income / (Expense), net		 -34 -39 -21 -26 -28 -26 -21 -6.37 -11 -31 -17
Interest Expense		 52 55 41 42 53 50 42 27 33 49 33
Other Income / (Expense), net		 18 17 20 17 25 24 20 21 22 18 16
Income Tax Expense		 54 80 33 25 79 118 44 38 101 152 61
Basic Earnings per Share		 $2.08 $2.85 $1.08 $0.82 $2.25 $3.05 $1.17 $1.07 $2.48 $3.49 $1.44
Weighted Average Basic Shares Outstanding		 149.80M 151.27M 153.31M 152.51M 156.30M 159.18M 159.29M 158.94M 162.73M 166.46M 168.35M
Diluted Earnings per Share		 $2.08 $2.85 $1.08 $0.82 $2.23 $3.03 $1.16 $1.04 $2.44 $3.47 $1.43
Weighted Average Diluted Shares Outstanding		 149.80M 151.30M 153.40M 152.67M 157.82M 160.43M 161.17M 160.57M 164.87M 167.81M 169.37M
Weighted Average Basic & Diluted Shares Outstanding		 150.84M 150.88M 155.23M 155.40M 158.73M 158.84M 160.52M 161.69M 165.44M 166.92M 168.99M
Cash Dividends to Common per Share		 $0.81 $0.81 $0.81 - $0.87 $0.87 $0.87 - $1.00 $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 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 266 -22 415 -370 281 -44 168 -510 168 -244 399
Net Cash From Operating Activities		 245 747 411 331 282 923 496 348 308 723 640
Net Cash From Continuing Operating Activities		 245 747 411 331 282 923 496 348 308 723 640
Net Income / (Loss) Continuing Operations		 311 432 166 134 352 486 186 175 403 582 243
Consolidated Net Income / (Loss)		 311 432 166 134 352 486 186 175 403 582 243
Depreciation Expense		 165 165 167 173 181 183 186 186 195 196 202
Non-Cash Adjustments To Reconcile Net Income		 -17 -11 -11 -6.56 -19 -13 -17 -2.29 -23 -12 -15
Changes in Operating Assets and Liabilities, net		 -214 161 90 37 -231 268 141 4.81 -266 -42 211
Net Cash From Investing Activities		 -764 -645 -710 -804 -889 -829 -876 -968 -1,036 -1,000 -1,040
Net Cash From Continuing Investing Activities		 -764 -645 -710 -804 -889 -829 -876 -968 -1,036 -1,000 -1,040
Purchase of Property, Plant & Equipment		 -770 -646 -714 -808 -891 -840 -867 -964 -1,033 -1,004 -1,039
Purchase of Investments		 -0.08 -0.93 -0.69 -18 -0.49 1.20 -3.06 -32 -4.53 -0.79 -0.85
Other Investing Activities, net		 5.35 1.92 4.47 4.32 2.74 9.87 -6.14 -2.10 2.23 4.25 -0.17
Net Cash From Financing Activities		 785 -123 714 103 887 -139 548 110 895 32 799
Net Cash From Continuing Financing Activities		 785 -123 714 103 887 -139 548 110 895 32 799
Repayment of Debt		 -251 -5.74 -2.23 -6.01 -5.99 -4.05 -4.15 -5.34 -15 -4.39 -5.47
Payment of Dividends		 -120 -122 -125 -126 -135 -138 -138 -141 -160 -164 -166
Issuance of Debt		 898 - 342 - 645 - 498 - 597 - 700
Issuance of Common Equity		 258 4.03 500 3.69 384 3.84 193 134 475 201 271

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 2,918
Other Noncurrent Operating Liabilities		 162 245 176 158 400 642 537 538 600 692 902
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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 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 12/31/2025 3/31/2026 6/30/2026
Total Assets		 22,517 23,684 24,005 24,891 25,194 26,497 26,980 27,713 29,798 30,380 31,586
Total Current Assets		 886 1,680 1,432 1,709 1,132 1,828 1,591 1,552 1,636 1,262 1,501
Cash & Equivalents		 15 278 262 675 307 585 544 709 367 126 521
Restricted Cash		 3.84 7.13 1.27 4.64 1.52 4.87 1.62 4.22 4.49 1.41 4.86
Accounts Receivable		 329 646 596 392 366 629 661 400 731 645 469
Inventories, net		 246 221 144 158 170 153 97 139 160 136 154
Other Current Assets		 292 527 428 480 288 457 288 300 374 354 351
Plant, Property, & Equipment, net		 19,607 20,319 20,815 21,422 22,204 22,962 23,632 24,378 26,268 27,070 28,016
Plant, Property & Equipment, gross		 22,898 23,684 24,284 24,980 25,848 26,676 27,451 28,288 30,322 31,191 32,221
Accumulated Depreciation		 3,292 3,364 3,469 3,558 3,644 3,714 3,819 3,910 4,055 4,121 4,206
Total Noncurrent Assets		 2,025 1,685 1,758 1,761 1,858 1,707 1,757 1,782 1,895 2,048 2,069
Goodwill		 731 731 731 731 731 731 731 731 731 731 731
Intangible Assets		 92 90 87 85 83 81 79 77 73 70 68
Other Noncurrent Operating Assets		 1,201 864 939 944 1,044 895 947 974 1,091 1,246 1,270
Total Liabilities & Shareholders' Equity		 22,517 23,684 24,005 24,891 25,194 26,497 26,980 27,713 29,798 30,380 31,586
Total Liabilities		 11,647 12,411 12,386 12,708 13,037 13,717 13,842 14,327 15,516 15,471 16,327
Total Current Liabilities		 1,353 1,170 1,055 985 1,206 1,175 1,199 1,130 1,447 1,258 1,844
Short-Term Debt		 253 11 9.59 9.62 9.86 20 20 20 11 11 511
Accounts Payable		 336 417 368 319 445 453 445 398 617 467 437
Other Current Liabilities		 763 742 678 656 751 702 733 713 819 780 896
Total Noncurrent Liabilities		 10,294 11,241 11,331 11,723 11,831 12,542 12,644 13,196 14,068 14,213 14,483
Long-Term Debt		 6,639 7,529 7,526 7,866 7,861 8,490 8,486 8,981 9,622 9,618 9,812
Asset Retirement Reserve & Litigation Obligation		 497 498 507 516 508 520 527 530 520 510 493
Noncurrent Deferred & Payable Income Tax Liabilities		 2,558 2,611 2,702 2,550 2,771 2,848 2,948 2,857 3,134 3,283 3,363
Other Noncurrent Operating Liabilities		 600 602 596 791 692 684 682 829 792 802 814
Total Equity & Noncontrolling Interests		 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909 15,258
Total Preferred & Common Equity		 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909 15,258
Total Common Equity		 10,870 11,273 11,619 12,183 12,158 12,780 13,138 13,386 14,283 14,909 15,258
Common Stock		 6,685 6,947 6,955 7,464 7,475 7,865 7,881 8,080 8,709 8,926 9,207
Retained Earnings		 3,667 3,858 4,168 4,209 4,217 4,433 4,780 4,828 5,104 5,517 5,591
Accumulated Other Comprehensive Income / (Loss)		 519 469 496 510 466 482 477 478 470 465 460

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 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 165,438,946.00 166,919,822.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 165,438,946.00 166,919,822.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 3.52 1.45
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -21.94% 6.90% 5.86% 11.96% 1.51% 18.41% 19.56% 12.09% 14.17% 0.61% 4.80%
EBITDA Growth		 19.08% 24.54% 21.07% 14.22% 14.28% 14.07% 12.52% 13.59% 10.08% 17.01% 17.47%
EBIT Growth		 21.79% 29.00% 29.52% 19.22% 16.10% 15.05% 13.33% 19.22% 10.92% 19.78% 23.61%
NOPAT Growth		 19.10% 23.79% 21.06% 16.90% 10.19% 8.97% 11.19% 15.82% 9.86% 19.80% 25.83%
Net Income Growth		 14.50% 20.79% 20.14% 13.07% 13.03% 12.40% 12.60% 30.50% 14.52% 19.84% 30.18%
EPS Growth		 8.90% 14.92% 14.89% 6.49% 7.21% 6.32% 7.41% 26.83% 9.42% 14.52% 23.28%
Operating Cash Flow Growth		 29.85% -72.39% 25.06% 38.81% 14.98% 23.62% 20.72% 5.27% 9.23% -21.61% 28.92%
Free Cash Flow Firm Growth		 110.68% -2,598.20% -1,306.37% -1,799.95% -882.63% 3.34% -4.35% -34.69% -35.23% -58.89% -49.65%
Invested Capital Growth		 0.60% 13.36% 12.71% 11.14% 11.73% 11.69% 11.83% 13.35% 13.73% 15.69% 15.61%
Revenue Q/Q Growth		 97.14% 42.19% -57.41% -6.22% 78.74% 65.86% -57.00% -12.08% 82.05% 46.17% -55.20%
EBITDA Q/Q Growth		 77.13% 25.99% -44.46% -7.85% 77.23% 25.76% -45.21% -6.98% 71.75% 33.67% -45.00%
EBIT Q/Q Growth		 146.63% 36.14% -57.69% -16.07% 140.17% 34.91% -58.33% -11.70% 123.45% 45.68% -57.00%
NOPAT Q/Q Growth		 155.77% 36.57% -60.57% -15.13% 141.09% 35.06% -59.76% -11.60% 128.69% 47.28% -57.74%
Net Income Q/Q Growth		 162.64% 38.78% -61.68% -19.05% 162.55% 38.00% -61.61% -6.19% 130.41% 44.40% -58.29%
EPS Q/Q Growth		 170.13% 37.02% -62.11% -24.07% 171.95% 35.87% -61.72% -10.34% 134.62% 42.21% -58.79%
Operating Cash Flow Q/Q Growth		 2.96% 204.38% -44.92% -19.58% -14.72% 227.26% -46.22% -29.87% -11.51% 134.85% -11.55%
Free Cash Flow Firm Q/Q Growth		 339.77% -866.73% -13.68% 9.09% 1.23% 5.31% -22.73% -17.34% 0.84% -11.26% -15.60%
Invested Capital Q/Q Growth		 4.42% 1.95% 2.59% 1.75% 4.98% 1.92% 2.72% 3.13% 5.34% 3.68% 2.64%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 70.75% 62.10% 100.37% 104.09% 80.10% 60.05% 93.58% 100.14% 77.95% 65.99% 99.07%
EBITDA Margin		 50.20% 44.48% 58.01% 57.00% 56.52% 42.85% 54.60% 57.76% 54.49% 49.84% 61.20%
Operating Margin		 34.45% 33.45% 31.40% 28.12% 39.07% 32.25% 30.05% 29.76% 38.34% 38.97% 36.45%
EBIT Margin		 36.00% 34.46% 34.23% 30.64% 41.17% 33.48% 32.45% 32.59% 40.00% 39.87% 38.27%
Profit (Net Income) Margin		 26.87% 26.23% 23.60% 20.37% 29.92% 24.89% 22.23% 23.71% 30.01% 29.65% 27.61%
Tax Burden Percent		 85.26% 84.34% 83.20% 84.06% 81.60% 80.51% 80.83% 82.06% 80.02% 79.32% 80.02%
Interest Burden Percent		 87.56% 90.23% 82.86% 79.09% 89.07% 92.34% 84.74% 88.68% 93.78% 93.77% 90.15%
Effective Tax Rate		 14.74% 15.66% 16.80% 15.94% 18.40% 19.49% 19.17% 17.94% 19.98% 20.68% 19.98%
Return on Invested Capital (ROIC)		 6.28% 6.44% 5.85% 5.26% 6.80% 5.82% 5.47% 5.46% 6.75% 6.63% 6.14%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.91% 5.96% 5.59% 4.96% 6.49% 5.55% 5.25% 5.40% 6.65% 6.35% 5.99%
Return on Net Nonoperating Assets (RNNOA)		 4.44% 3.75% 3.38% 3.11% 4.10% 3.42% 3.18% 3.43% 4.22% 3.95% 3.78%
Return on Equity (ROE)		 10.72% 10.19% 9.23% 8.36% 10.90% 9.24% 8.65% 8.89% 10.97% 10.58% 9.93%
Cash Return on Invested Capital (CROIC)		 4.82% -6.39% -5.82% -4.44% -5.07% -4.95% -5.13% -6.50% -6.97% -8.39% -8.25%
Operating Return on Assets (OROA)		 6.04% 6.17% 6.01% 5.35% 6.86% 5.89% 5.70% 5.73% 6.92% 6.78% 6.35%
Return on Assets (ROA)		 4.51% 4.70% 4.14% 3.56% 4.99% 4.38% 3.91% 4.17% 5.19% 5.05% 4.58%
Return on Common Equity (ROCE)		 10.72% 10.19% 9.23% 8.36% 10.90% 9.24% 8.65% 8.89% 10.97% 10.58% 9.93%
Return on Equity Simple (ROE_SIMPLE)		 8.21% 8.60% 8.43% 0.00% 8.48% 8.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 340 465 183 156 375 506 204 180 412 607 256
NOPAT Margin		 29.37% 28.21% 26.12% 23.64% 31.88% 25.96% 24.29% 24.42% 30.68% 30.91% 29.17%
Net Nonoperating Expense Percent (NNEP)		 0.37% 0.48% 0.26% 0.30% 0.30% 0.27% 0.22% 0.06% 0.10% 0.28% 0.15%
Return On Investment Capital (ROIC_SIMPLE)		 1.81% - - - 1.76% 2.34% 0.91% 0.80% 1.72% 2.47% 1.00%
Cost of Revenue to Revenue		 29.25% 37.90% -0.37% -4.09% 19.90% 39.95% 6.42% -0.14% 22.05% 34.01% 0.93%
SG&A Expenses to Revenue		 14.36% 12.14% 30.12% 36.72% 17.61% 11.96% 26.48% 32.61% 17.12% 9.98% 25.39%
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		 36.30% 28.65% 68.97% 75.97% 41.03% 27.80% 63.53% 70.38% 39.61% 27.02% 62.62%
Earnings before Interest and Taxes (EBIT)		 417 568 240 202 484 653 272 240 537 782 336
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 582 733 407 375 665 836 458 426 732 978 538
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.49 1.53 1.44 1.77 1.69 1.87 1.83 2.02 1.90 2.05 1.88
Price to Tangible Book Value (P/TBV)		 1.60 1.65 1.55 1.90 1.81 1.99 1.95 2.15 2.01 2.17 1.99
Price to Revenue (P/Rev)		 4.24 4.39 4.30 5.17 5.17 5.47 5.29 5.83 5.57 6.26 5.84
Price to Earnings (P/E)		 18.12 17.81 17.13 20.65 19.98 21.58 21.14 22.86 21.69 22.70 20.50
Dividend Yield		 2.68% 2.62% 2.70% 2.32% 2.36% 2.17% 2.22% 2.04% 2.15% 2.02% 2.25%
Earnings Yield		 5.52% 5.61% 5.84% 4.84% 5.01% 4.63% 4.73% 4.37% 4.61% 4.41% 4.88%
Enterprise Value to Invested Capital (EV/IC)		 1.30 1.33 1.28 1.48 1.43 1.54 1.51 1.62 1.54 1.64 1.54
Enterprise Value to Revenue (EV/Rev)		 6.08 6.18 6.06 6.99 7.07 7.24 7.09 7.70 7.47 8.21 7.83
Enterprise Value to EBITDA (EV/EBITDA)		 13.09 12.67 12.10 13.92 13.56 14.24 14.04 15.28 14.83 15.45 14.42
Enterprise Value to EBIT (EV/EBIT)		 19.82 18.72 17.79 20.40 19.79 20.58 20.34 21.94 21.36 21.87 20.33
Enterprise Value to NOPAT (EV/NOPAT)		 24.01 23.02 22.12 25.44 25.09 26.65 26.42 28.61 27.93 28.57 26.49
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.83 16.09 15.11 16.78 16.70 16.69 16.12 17.66 17.52 21.35 19.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 26.99 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.67 0.65 0.65 0.65 0.67 0.65 0.67 0.66 0.67 0.65 0.68
Long-Term Debt to Equity		 0.67 0.65 0.65 0.65 0.66 0.65 0.67 0.66 0.67 0.65 0.64
Financial Leverage		 0.75 0.63 0.61 0.63 0.63 0.62 0.61 0.64 0.63 0.62 0.63
Leverage Ratio		 2.23 2.08 2.05 2.07 2.09 2.06 2.06 2.08 2.08 2.05 2.07
Compound Leverage Factor		 1.95 1.87 1.70 1.64 1.86 1.90 1.74 1.84 1.95 1.92 1.87
Debt to Total Capital		 40.08% 39.34% 39.26% 39.30% 39.97% 39.30% 40.21% 39.88% 40.28% 39.24% 40.36%
Short-Term Debt to Total Capital		 0.06% 0.05% 0.05% 0.05% 0.09% 0.09% 0.09% 0.09% 0.05% 0.05% 2.00%
Long-Term Debt to Total Capital		 40.02% 39.29% 39.22% 39.25% 39.88% 39.21% 40.12% 39.79% 40.23% 39.20% 38.36%
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		 59.92% 60.66% 60.74% 60.70% 60.03% 60.70% 59.79% 60.12% 59.72% 60.76% 59.64%
Debt to EBITDA		 4.11 3.81 3.84 3.77 3.90 3.73 3.86 3.80 3.93 3.71 3.86
Net Debt to EBITDA		 3.96 3.67 3.51 3.62 3.63 3.49 3.55 3.71 3.78 3.66 3.66
Long-Term Debt to EBITDA		 4.10 3.80 3.84 3.76 3.90 3.72 3.85 3.79 3.93 3.71 3.67
Debt to NOPAT		 7.54 6.92 7.02 6.88 7.22 6.98 7.26 7.11 7.40 6.87 7.09
Net Debt to NOPAT		 7.25 6.68 6.42 6.61 6.72 6.53 6.68 6.95 7.11 6.78 6.73
Long-Term Debt to NOPAT		 7.53 6.91 7.02 6.87 7.21 6.96 7.24 7.09 7.39 6.86 6.74
Altman Z-Score		 1.29 1.37 1.30 1.41 1.43 1.58 1.49 1.54 1.52 1.69 1.48
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		 1.44 1.36 1.73 0.94 1.56 1.33 1.37 0.77 1.13 1.00 0.81
Quick Ratio		 0.79 0.81 1.08 0.56 1.03 1.00 0.98 0.42 0.76 0.61 0.54
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 230 -1,761 -2,002 -1,820 -1,798 -1,702 -2,089 -2,452 -2,431 -2,705 -3,127
Operating Cash Flow to CapEx		 31.87% 115.59% 57.62% 40.93% 31.65% 109.92% 57.26% 36.13% 29.81% 72.09% 61.57%
Free Cash Flow to Firm to Interest Expense		 4.43 -31.77 -48.64 -43.18 -33.97 -34.04 -50.30 -90.13 -72.76 -55.50 -94.34
Operating Cash Flow to Interest Expense		 4.73 13.47 9.99 7.84 5.33 18.45 11.95 12.80 9.22 14.85 19.31
Operating Cash Flow Less CapEx to Interest Expense		 -10.11 1.82 -7.35 -11.32 -11.51 1.67 -8.92 -22.63 -21.71 -5.75 -12.05
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.17 0.18 0.18 0.17 0.17 0.18 0.18 0.18 0.17 0.17 0.17
Accounts Receivable Turnover		 5.36 7.24 11.34 11.99 6.56 7.14 11.69 12.69 7.16 7.48 11.33
Inventory Turnover		 3.87 6.17 5.22 4.50 4.43 8.15 7.01 6.25 7.22 8.72 6.61
Fixed Asset Turnover		 0.21 0.21 0.20 0.20 0.19 0.20 0.20 0.20 0.20 0.19 0.19
Accounts Payable Turnover		 2.12 2.76 2.98 2.39 1.91 2.42 2.90 2.24 2.11 2.23 2.33
Days Sales Outstanding (DSO)		 68.05 50.40 32.19 30.43 55.64 51.14 31.23 28.77 50.97 48.80 32.22
Days Inventory Outstanding (DIO)		 94.41 59.14 69.87 81.18 82.34 44.78 52.10 58.42 50.57 41.87 55.20
Days Payable Outstanding (DPO)		 171.86 132.31 122.57 152.75 191.50 150.84 125.78 162.96 173.10 163.85 156.88
Cash Conversion Cycle (CCC)		 -9.40 -22.76 -20.51 -41.13 -53.51 -54.92 -42.44 -75.77 -71.56 -73.18 -69.46
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 18,529 18,891 19,380 19,719 20,701 21,099 21,673 22,351 23,544 24,411 25,056
Invested Capital Turnover		 0.21 0.23 0.22 0.22 0.21 0.22 0.23 0.22 0.22 0.21 0.21
Increase / (Decrease) in Invested Capital		 111 2,226 2,185 1,976 2,173 2,209 2,293 2,632 2,843 3,311 3,383
Enterprise Value (EV)		 24,017 25,076 24,797 29,094 29,563 32,498 32,766 36,202 36,366 40,062 38,553
Market Capitalization		 16,762 17,804 17,600 21,532 21,642 24,536 24,478 27,409 27,105 30,560 28,755
Book Value per Share		 $75.26 $77.03 $80.75 $78.32 $82.24 $82.77 $84.27 $84.47 $88.33 $90.12 $91.41
Tangible Book Value per Share		 $69.77 $71.60 $75.34 $73.07 $77.02 $77.67 $79.18 $79.44 $83.36 $85.27 $86.62
Total Capital		 18,814 19,154 20,059 20,028 21,291 21,644 22,387 22,555 23,916 24,538 25,582
Total Debt		 7,541 7,536 7,876 7,870 8,510 8,506 9,001 8,996 9,633 9,629 10,324
Total Long-Term Debt		 7,529 7,526 7,866 7,861 8,490 8,486 8,981 8,975 9,622 9,618 9,812
Net Debt		 7,255 7,272 7,197 7,562 7,921 7,961 8,287 8,792 9,261 9,502 9,798
Capital Expenditures (CapEx)		 770 646 714 808 891 840 867 964 1,033 1,004 1,039
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 235 123 54 -373 84 -132 -272 -493 -172 -112 -358
Debt-free Net Working Capital (DFNWC)		 521 387 733 -64 673 413 442 -289 200 15 168
Net Working Capital (NWC)		 509 377 724 -74 653 393 422 -310 189 3.53 -344
Net Nonoperating Expense (NNE)		 29 33 18 22 23 21 17 5.22 8.95 25 14
Net Nonoperating Obligations (NNO)		 7,255 7,272 7,197 7,562 7,921 7,961 8,287 8,792 9,261 9,502 9,798
Total Depreciation and Amortization (D&A)		 165 165 167 173 181 183 186 186 195 196 202
Debt-free, Cash-free Net Working Capital to Revenue		 5.96% 3.03% 1.32% -8.94% 2.00% -2.95% -5.88% -10.49% -3.53% -2.30% -7.27%
Debt-free Net Working Capital to Revenue		 13.18% 9.54% 17.91% -1.53% 16.09% 9.20% 9.55% -6.15% 4.10% 0.30% 3.41%
Net Working Capital to Revenue		 12.89% 9.30% 17.67% -1.77% 15.62% 8.76% 9.12% -6.59% 3.88% 0.07% -6.98%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.08 $2.85 $1.08 $0.82 $2.25 $3.05 $1.17 $1.07 $2.48 $3.49 $1.44
Adjusted Weighted Average Basic Shares Outstanding		 149.80M 151.27M 153.31M 152.51M 156.30M 159.18M 159.29M 158.94M 162.73M 166.46M 168.35M
Adjusted Diluted Earnings per Share		 $2.08 $2.85 $1.08 $0.82 $2.23 $3.03 $1.16 $1.04 $2.44 $3.47 $1.43
Adjusted Weighted Average Diluted Shares Outstanding		 149.80M 151.30M 153.40M 152.67M 157.82M 160.43M 161.17M 160.57M 164.87M 167.81M 169.37M
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		 150.84M 150.88M 155.23M 155.40M 158.73M 158.84M 160.52M 161.69M 165.44M 166.92M 168.99M
Normalized Net Operating Profit after Tax (NOPAT)		 340 465 183 156 375 506 204 180 412 607 256
Normalized NOPAT Margin		 29.37% 28.21% 26.12% 23.64% 31.88% 25.96% 24.29% 24.42% 30.68% 30.91% 29.17%
Pre Tax Income Margin		 31.52% 31.10% 28.37% 24.23% 36.67% 30.92% 27.50% 28.90% 37.51% 37.38% 34.50%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 8.04 10.24 5.83 4.78 9.15 13.06 6.55 8.83 16.07 16.05 10.15
NOPAT to Interest Expense		 6.56 8.38 4.45 3.69 7.08 10.12 4.91 6.62 12.33 12.45 7.74
EBIT Less CapEx to Interest Expense		 -6.80 -1.41 -11.50 -14.39 -7.69 -3.73 -14.32 -26.59 -14.86 -4.54 -21.21
NOPAT Less CapEx to Interest Expense		 -8.28 -3.27 -12.89 -15.48 -9.75 -6.66 -15.97 -28.80 -18.60 -8.15 -23.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 48.17% 46.13% 46.52% 47.27% 46.93% 46.20% 46.51% 46.19% 46.30% 44.90% 45.07%
Augmented Payout Ratio		 48.17% 46.13% 46.52% 47.27% 46.93% 46.20% 46.51% 46.19% 46.30% 44.90% 45.07%

Financials Breakdown Chart

Key Financial Trends

Atmos Energy’s latest results show a steady, utility-style earnings profile, but with rising leverage and heavy capital spending. Over the past several years, the company has consistently produced strong operating cash flow and growing net income, while continuing to invest aggressively in its regulated infrastructure. That combination supports the long-term story, but it also means investors should watch debt levels and cash trends closely.

  • Revenue and earnings have generally trended higher over time. In Q2 2026, revenue rose to $1.96 billion from $1.65 billion a year earlier, while diluted EPS increased to $3.47 from $3.03 in the prior-year quarter.
  • Operating income improved meaningfully in the latest quarter. Q2 2026 operating income was $764.8 million, up from $628.9 million in Q2 2025, showing solid underlying profitability despite higher operating costs.
  • Operating cash flow remains strong. Q2 2026 cash from operations was $723.5 million, and full-year quarterly figures across the last several periods show that Atmos consistently generates substantial cash from its regulated business model.
  • Book equity has expanded. Total common equity increased to $14.9 billion in Q2 2026 from $12.8 billion in Q1 2025 and $9.8 billion in Q1 2023, reflecting retained earnings growth and capital raised over time.
  • Regulated utility assets continue to grow. Net property, plant and equipment rose to $27.1 billion in Q2 2026 from $22.9 billion in Q1 2025 and $17.9 billion in Q1 2023, consistent with ongoing system investment.
  • Margins remain fairly stable for a utility, but expenses are significant. Gross profit and operating income remain healthy, but depreciation, SG&A, and other operating expenses consume a meaningful portion of revenue.
  • Atmos continues to issue equity and debt to fund growth. Financing activities in recent quarters included both debt issuance and common equity issuance, which can help support capital plans but also dilute shareholders and add complexity to the capital structure.
  • Dividend coverage looks manageable from an earnings standpoint. The company paid $1.00 per share in Q2 2026 versus diluted EPS of $3.47, suggesting earnings still covered the dividend in that quarter.
  • Capital spending is very high. Q2 2026 capex was about $1.00 billion, well above operating cash flow in some historical quarters, which means free cash flow is under pressure.
  • Leverage has risen over the long term. Long-term debt increased to $9.62 billion in Q2 2026 from $8.49 billion in Q1 2025 and $6.55 billion in Q1 2023, while total liabilities also climbed over the period.
  • Cash declined sharply in the latest quarter. Cash and equivalents fell to $125.7 million in Q2 2026 from $367.0 million in Q1 2026, even after financing inflows, showing how quickly capital spending can absorb liquidity.

Bottom line: Atmos Energy still looks like a classic regulated utility: steady earnings, dependable operating cash flow, and ongoing asset investment. The main caution is balance-sheet pressure from persistent capex and debt growth. For long-term investors, the business quality appears solid, but the stock’s outlook will likely depend on how efficiently management balances growth spending, dividend growth, and leverage.

08/17/26 08:03 AM ETAI Generated. May Contain Errors.

Atmos Energy Financials - Frequently Asked Questions

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.

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. Find out what analysts predict for Atmos Energy in the coming months.

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

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%.

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.

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.

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 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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