TXNM Energy (TXNM) Financials

$59.17 -0.02 (-0.03%)

Closing price 03:59 PM Eastern

Extended Trading

$59.16 -0.01 (-0.01%)

As of 04:10 PM Eastern

Annual Income Statements for TXNM Energy

This table shows TXNM 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	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	16	117	80	86	77	173	196	170	88	242	151
Consolidated Net Income / (Loss)	31	132	95	101	92	187	212	185	107	259	170
Net Income / (Loss) Continuing Operations	31	502	95	101	92	187	212	185	107	259	170
Total Pre-Tax Income	46	195	226	109	67	208	244	211	91	280	180
Total Operating Income	124	285	315	236	144	285	308	394	231	453	441
Total Gross Profit	489	1,049	725	731	601	777	823	927	779	1,086	1,141
Total Revenue	1,439	1,363	1,445	1,437	1,458	1,523	1,780	2,250	1,939	1,971	2,166
Operating Revenue	1,439	1,363	1,445	1,437	1,458	1,523	1,780	-	1,939	1,971	2,166
Total Cost of Revenue	950	314	720	705	856	746	957	1,323	1,160	886	1,024
Operating Cost of Revenue	878	238	644	626	776	664	871	1,230	1,065	785	914
Other Cost of Revenue	72	76	77	80	80	82	86	93	96	101	110
Total Operating Expenses	365	394	410	495	457	492	514	532	547	632	700
Selling, General & Admin Expense	179	185	178	188	189	216	230	227	228	247	274
Depreciation Expense	186	209	232	241	268	276	284	305	320	385	426
Total Other Income / (Expense), net	-78	-90	-89	-127	-77	-77	-64	-182	-141	-173	-261
Interest Expense	115	129	128	127	121	114	97	128	190	228	272
Interest & Investment Income	23	42	43	-1.64	44	36	32	-62	41	50	55
Other Income / (Expense), net	14	-2.73	-4.73	1.89	0.05	1.24	1.64	7.72	8.34	4.43	-44
Income Tax Expense	15	63	130	7.78	-25	21	33	26	-16	22	10
Net Income / (Loss) Attributable to Noncontrolling Interest	15	15	15	15	14	14	15	15	19	16	18
Basic Earnings per Share	$0.20	$1.47	$1.00	$1.07	$0.97	$2.16	$2.28	$1.97	$1.02	$2.67	$1.49
Weighted Average Basic Shares Outstanding	79.76M	79.76M	79.89M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
Diluted Earnings per Share	$0.20	$1.46	$1.00	$1.07	$0.97	$2.15	$2.27	$1.97	$1.02	$2.67	$1.48
Weighted Average Diluted Shares Outstanding	79.76M	79.76M	79.89M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
Weighted Average Basic & Diluted Shares Outstanding	79.76M	79.76M	79.89M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
Cash Dividends to Common per Share	$0.82	$0.90	$0.99	$1.09	$1.18	$1.25	$1.33	$1.41	$1.49	$1.57	$1.65

This table shows TXNM Energy's income and expenses over time, based on quarterly financial 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	Q4 2025	Q1 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	38	-50	47	48	131	16	8.92	22	131	-9.85	3.74
Consolidated Net Income / (Loss)	43	-46	50	52	136	20	13	26	136	-5.29	8.01
Net Income / (Loss) Continuing Operations	43	-46	50	52	136	20	13	26	136	-5.29	8.01
Total Pre-Tax Income	38	-75	38	61	160	22	14	27	155	-16	8.00
Total Operating Income	87	-47	81	106	191	76	72	73	203	94	77
Total Gross Profit	228	162	229	260	359	242	237	254	376	275	256
Total Revenue	506	412	437	488	569	477	483	502	647	533	505
Operating Revenue	506	412	-	488	569	477	483	502	647	-	505
Total Cost of Revenue	278	251	208	228	210	235	246	248	272	259	249
Operating Cost of Revenue	256	227	182	204	184	211	219	220	243	232	217
Other Cost of Revenue	22	24	26	24	26	25	26	28	28	27	32
Total Operating Expenses	141	208	149	154	168	166	165	181	173	181	179
Selling, General & Admin Expense	58	60	55	60	65	67	61	76	68	69	67
Depreciation Expense	80	82	93	94	97	100	105	105	105	111	112
Total Other Income / (Expense), net	-49	-28	-43	-45	-31	-54	-58	-45	-48	-110	-69
Interest Expense	50	54	54	56	60	59	64	72	70	66	69
Interest & Investment Income	-3.04	24	23	5.03	22	0.34	3.01	27	18	6.51	-5.38
Other Income / (Expense), net	3.87	1.78	-12	6.05	5.97	4.03	2.47	-0.78	4.66	-51	4.96
Income Tax Expense	-5.27	-29	-13	8.97	23	1.70	1.02	1.33	19	-11	-0.01
Preferred Stock Dividends Declared	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	-	0.13
Net Income / (Loss) Attributable to Noncontrolling Interest	5.06	4.36	3.04	3.78	5.06	4.15	3.74	4.31	5.46	4.43	4.14
Basic Earnings per Share	$0.44	($0.59)	$0.52	$0.53	$1.45	$0.17	$0.10	$0.22	$1.22	($0.05)	$0.03
Weighted Average Basic Shares Outstanding	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
Diluted Earnings per Share	$0.44	($0.59)	$0.52	$0.53	$1.45	$0.17	$0.10	$0.22	$1.22	($0.06)	$0.03
Weighted Average Diluted Shares Outstanding	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
Weighted Average Basic & Diluted Shares Outstanding	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
Cash Dividends to Common per Share	$0.37	-	$0.39	$0.39	$0.39	-	$0.41	$0.41	$0.41	-	$0.42

This table details how cash moves in and out of TXNM 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	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-150	-49	23	-1.85	1.71	44	-47	2.97	-0.14	18	9.87
Net Cash From Operating Activities	387	408	523	428	503	486	548	567	551	508	584
Net Cash From Continuing Operating Activities	219	408	522	426	503	486	547	567	551	508	584
Net Income / (Loss) Continuing Operations	31	132	95	101	92	187	212	185	107	259	170
Consolidated Net Income / (Loss)	31	132	95	101	92	187	212	185	107	259	170
Depreciation Expense	223	242	268	276	301	315	320	341	354	423	483
Non-Cash Adjustments To Reconcile Net Income	-18	-0.76	0.64	81	121	-20	-1.95	89	61	-8.68	35
Changes in Operating Assets and Liabilities, net	-17	35	158	-32	-11	3.83	17	-48	30	-165	-104
Net Cash From Investing Activities	-545	-699	-466	-476	-674	-734	-952	-950	-1,088	-1,174	-1,217
Net Cash From Continuing Investing Activities	-545	-699	-466	-476	-674	-734	-952	-950	-1,088	-1,174	-1,217
Purchase of Property, Plant & Equipment	-559	-600	-500	-501	-616	-679	-935	-913	-1,076	-1,247	-1,196
Acquisitions	0.00	0.00	-4.08	-9.00	-38	-23	0.00	0.00	-26	-13	0.00
Purchase of Investments	-263	-661	-650	-1,007	-514	-608	-478	-565	-593	-757	-714
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	0.00	33	2.84	0.00
Divestitures	-	-	-	-	-	-	-	0.00	0.00	117	0.00
Sale and/or Maturity of Investments	252	553	637	1,041	495	591	460	526	574	707	693
Other Investing Activities, net	24	8.73	51	0.34	-0.04	-15	-0.01	0.67	0.04	15	-0.11
Net Cash From Financing Activities	175	242	-59	46	172	292	358	386	537	684	643
Net Cash From Continuing Financing Activities	175	242	-35	46	172	292	358	386	537	684	643
Repayment of Debt	-340	-459	-306	-829	-465	-1,142	-1,397	-1,845	-3,249	-3,385	-6,143
Repurchase of Common Equity	-18	-15	-14	-13	-9.92	-12	-10	-7.98	-9.65	-8.46	-12
Payment of Dividends	-81	-88	-96	-102	-108	-117	-132	-137	-148	-159	-184
Issuance of Debt	609	790	317	985	745	1,268	1,816	2,388	3,717	4,125	6,193
Issuance of Common Equity	-	-	-	0.00	0.00	283	0.00	0.00	198	99	843
Other Financing Activities, net	5.65	14	64	5.02	11	11	81	-11	29	13	-54
Cash Interest Paid	103	115	121	119	115	107	91	118	155	208	234
Cash Income Taxes Paid	-1.89	-0.31	0.63	0.84	-2.93	0.97	1.04	-1.01	1.51	-1.00	2.35

This table details how cash moves in and out of TXNM Energy's business through operations, investing, and financing, using quarterly figures. 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	Q4 2025	Q1 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	0.13	-3.83	7.97	8.41	-3.88	5.65	-6.19	22	2.46	-8.03	-20
Net Cash From Operating Activities	170	139	93	77	180	159	141	3.54	282	158	153
Net Cash From Continuing Operating Activities	170	139	93	77	180	159	141	3.54	282	158	153
Net Income / (Loss) Continuing Operations	43	-46	50	52	136	20	13	26	136	-5.29	8.01
Consolidated Net Income / (Loss)	43	-46	50	52	136	20	13	26	136	-5.29	8.01
Depreciation Expense	89	91	103	103	108	109	114	121	126	122	125
Non-Cash Adjustments To Reconcile Net Income	12	50	-12	2.52	-5.47	6.63	5.07	-20	-9.72	60	15
Changes in Operating Assets and Liabilities, net	27	43	-48	-81	-58	23	9.09	-123	30	-19	4.50
Net Cash From Investing Activities	-282	-277	-184	-295	-326	-369	-345	-266	-279	-327	-315
Net Cash From Continuing Investing Activities	-282	-277	-184	-295	-326	-369	-345	-266	-279	-327	-315
Purchase of Property, Plant & Equipment	-271	-268	-289	-293	-324	-342	-343	-266	-277	-310	-313
Purchase of Investments	-142	-170	-305	-113	-339	-0.21	-92	-109	-244	-269	-113
Sale and/or Maturity of Investments	138	162	303	110	333	-38	90	109	242	253	110
Other Investing Activities, net	0.04	-	-0.02	-0.03	3.43	12	-0.03	-0.02	-0.02	-0.03	0.04
Net Cash From Financing Activities	112	134	100	227	142	216	198	284	-0.31	161	142
Net Cash From Continuing Financing Activities	112	134	100	227	142	216	198	284	-0.31	161	142
Repayment of Debt	-429	-958	-678	-1,597	-549	-561	-534	-2,581	-2,099	-929	-591
Repurchase of Common Equity	-0.01	-0.02	-5.44	-0.81	-1.74	-0.48	-6.31	-1.94	-0.18	-3.54	-5.39
Payment of Dividends	-37	-37	-39	-39	-41	-40	-38	-43	-49	-50	-46
Issuance of Debt	563	929	776	1,874	766	710	848	2,270	1,946	1,129	668
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	198	-0.15	104
Other Financing Activities, net	15	2.04	46	-9.82	-31	8.21	-72	-5.70	4.94	14	14
Cash Interest Paid	39	33	49	49	50	61	52	81	29	72	46
Cash Income Taxes Paid	-	0.11	-0.49	0.09	-	-0.60	0.00	2.35	-	-	0.00

This table presents TXNM 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	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	6,009	6,471	6,646	6,866	7,299	7,940	8,667	9,257	10,253	11,212	12,059
Total Current Assets	386	378	294	303	294	377	325	411	476	499	565
Cash & Equivalents	46	4.52	3.97	2.12	3.83	48	1.10	4.08	2.22	4.50	18
Short-Term Investments	-	-	-	-	-	-	-	-	444	476	506
Accounts Receivable	179	174	162	161	155	193	209	267	267	237	274
Inventories, net	67	73	67	72	78	66	65	67	98	167	181
Prepaid Expenses	-	-	-	-	-	42	37	18	20	25	29
Current Deferred & Refundable Income Taxes	5.85	6.07	6.88	7.97	4.93	5.67	4.88	2.35	6.70	7.68	8.32
Other Current Assets	87	83	51	59	52	23	16	52	82	58	54
Plant, Property, & Equipment, net	4,535	4,905	4,984	5,235	5,466	11,930	6,778	7,000	7,639	8,466	9,352
Plant, Property & Equipment, gross	6,594	7,240	7,573	7,839	8,180	14,765	16,111	9,633	10,366	11,266	12,322
Accumulated Depreciation	2,059	2,335	2,593	2,604	2,714	2,835	2,953	2,660	2,756	2,829	3,011
Total Noncurrent Assets	1,088	1,188	1,368	1,328	1,526	1,482	1,475	3,095	1,693	1,772	1,637
Long-Term Investments	260	274	341	355	454	440	463	418	120	0.26	0.30
Goodwill	278	278	278	278	278	278	278	278	278	278	278
Intangible Assets	-	-	-	0.00	131	105	-	-	182	273	109
Other Noncurrent Operating Assets	550	580	696	695	662	659	733	2,399	1,113	1,220	1,250
Total Liabilities & Shareholders' Equity	6,009	6,471	6,646	6,866	7,299	7,940	8,667	9,257	10,253	11,212	12,059
Total Liabilities	4,272	4,715	4,873	5,101	5,545	5,820	6,432	7,001	7,842	8,617	8,600
Total Current Liabilities	629	794	836	512	967	978	664	890	1,231	1,775	1,018
Short-Term Debt	376	560	562	236	675	635	242	417	542	1,221	484
Accounts Payable	100	87	121	112	103	169	188	216	205	204	243
Customer Deposits	-	-	11	11	11	6.61	5.10	6.12	6.24	6.53	6.89
Dividends Payable	18	19	21	23	25	28	0.13	32	35	37	46
Other Taxes Payable	58	62	62	65	77	68	70	77	99	105	124
Other Current Liabilities	77	65	57	65	77	63	174	143	344	202	113
Total Noncurrent Liabilities	3,630	3,910	4,049	4,589	4,578	4,842	5,768	6,122	6,611	6,853	7,582
Long-Term Debt	1,967	2,119	2,181	2,670	2,517	2,720	3,520	3,893	4,242	4,312	5,116
Asset Retirement Reserve & Litigation Obligation	579	583	1,080	1,050	1,048	1,034	1,076	979	1,017	993	1,012
Noncurrent Deferred Revenue	134	141	132	168	186	255	333	342	319	359	389
Noncurrent Deferred & Payable Income Tax Liabilities	877	941	547	601	626	695	765	823	845	899	961
Noncurrent Employee Benefit Liabilities	73	126	94	100	95	58	19	33	21	23	6.74
Other Noncurrent Operating Liabilities	-	0.00	15	0.00	106	-	56	53	167	267	97
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	12	12	-	12	12	12	12	-	12	-	12
Total Equity & Noncontrolling Interests	1,726	1,745	1,761	1,753	1,742	2,108	2,223	2,245	2,399	2,583	3,448
Total Preferred & Common Equity	1,655	1,676	1,695	1,688	1,679	2,049	2,168	2,192	2,349	2,536	3,404
Total Common Equity	1,655	1,676	1,695	1,688	1,679	2,049	2,168	2,192	2,349	2,536	3,404
Common Stock	1,166	1,164	1,158	1,153	1,151	1,430	1,429	1,429	1,625	1,724	2,564
Retained Earnings	560	605	634	644	628	699	810	829	787	888	867
Accumulated Other Comprehensive Income / (Loss)	-71	-92	-96	-109	-99	-79	-72	-66	-63	-76	-27
Noncontrolling Interest	71	69	66	64	63	59	55	53	50	47	44

This table presents TXNM 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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	9,029	76	9,627	10,051	10,258	10,583	10,843	11,391	11,675	11,972	12,138
Total Current Assets	410	76	405	489	408	538	496	489	574	595	562
Cash & Equivalents	5.62	-	7.64	7.77	2.99	3.24	7.24	6.05	22	32	5.62
Short-Term Investments	-	-	-	-	-	-	454	470	487	494	495
Accounts Receivable	266	-	220	269	200	302	275	232	275	316	268
Inventories, net	65	76	81	83	104	115	121	168	171	173	190
Prepaid Expenses	-	-	-	-	0.00	0.00	34	26	40	31	25
Current Deferred & Refundable Income Taxes	-	-	-	-	-	-	5.32	7.28	9.49	8.64	7.78
Other Current Assets	51	-	60	99	61	59	53	49	56	35	66
Plant, Property, & Equipment, net	6,794	0.00	7,244	7,440	7,760	7,975	8,238	8,652	8,848	9,047	9,486
Plant, Property & Equipment, gross	9,318	-	9,818	10,062	10,501	10,755	11,122	11,512	11,720	11,977	12,528
Accumulated Depreciation	2,621	-	2,680	2,729	2,813	2,855	2,910	2,889	2,905	2,967	3,083
Total Noncurrent Assets	1,357	0.00	1,438	1,581	1,641	1,630	1,656	1,779	1,767	1,835	1,596
Long-Term Investments	0.16	-	0.18	0.17	0.19	0.23	0.26	0.29	0.25	0.27	0.26
Goodwill	278	-	278	278	278	278	278	278	278	278	278
Intangible Assets	62	-	50	186	179	177	175	269	266	320	50
Other Noncurrent Operating Assets	1,016	-	1,110	1,117	1,183	1,174	1,203	1,231	1,222	1,237	1,267
Total Liabilities & Shareholders' Equity	9,029	12,156	9,627	10,051	10,258	10,583	10,843	11,391	11,675	11,972	12,138
Total Liabilities	6,762	1,147	7,302	7,753	7,841	8,120	8,324	8,828	8,447	8,499	8,613
Total Current Liabilities	426	142	1,108	1,479	942	1,000	1,370	1,694	1,120	1,176	1,023
Short-Term Debt	60	-	327	908	528	567	871	1,266	762	716	566
Accounts Payable	127	142	148	157	133	140	136	163	148	154	157
Customer Deposits	-	-	-	-	-	-	6.53	6.56	6.51	6.69	7.03
Dividends Payable	-	-	-	-	-	-	35	38	0.13	43	47
Other Taxes Payable	87	-	69	86	88	91	116	103	87	134	135
Other Current Liabilities	151	-	108	225	191	201	205	118	117	121	111
Total Noncurrent Liabilities	6,095	1,005	6,194	6,274	6,734	6,982	6,954	7,134	7,327	7,322	7,590
Long-Term Debt	3,894	-	3,928	3,903	4,355	4,597	4,511	4,583	4,783	4,680	5,112
Asset Retirement Reserve & Litigation Obligation	993	-	994	993	1,025	1,024	1,022	999	998	1,009	1,030
Noncurrent Deferred Revenue	351	-	346	323	334	331	363	369	364	371	430
Noncurrent Deferred & Payable Income Tax Liabilities	807	1,005	861	859	836	854	886	910	918	946	970
Noncurrent Employee Benefit Liabilities	9.42	-	29	28	19	16	13	21	18	16	6.74
Other Noncurrent Operating Liabilities	42	-	35	169	166	160	158	253	246	300	41
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	12	12	12	12	12
Total Equity & Noncontrolling Interests	2,272	1,964	2,321	2,298	2,423	2,473	2,508	2,551	3,217	3,461	3,514
Total Preferred & Common Equity	2,202	1,964	2,262	2,235	2,356	2,403	2,460	2,504	3,171	3,416	3,465
Total Common Equity	2,272	1,964	2,321	2,298	2,423	2,473	2,460	2,504	3,171	3,416	3,465
Common Stock	1,427	805	1,424	1,425	1,624	1,625	1,625	1,721	2,367	2,566	2,667
Retained Earnings	845	1,159	898	872	799	847	909	858	879	924	824
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-73	-75	-75	-74	-26
Noncontrolling Interest	-	-	-	-	-	-	48	46	46	45	49

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	148,045,513.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	148,045,513.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	84	192	133	219	199	257	267	345	273	419	416
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.26%	3.80%	5.16%	4.60%
Earnings before Interest and Taxes (EBIT)	138	282	310	238	144	287	310	401	240	458	397
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	361	524	579	514	445	601	630	743	593	881	880
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-107	-192	141	64	35	-6,196	5,784	-1,631	1,022	-602	-481
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,804	4,189	4,181	4,336	4,500	10,953	5,436	7,412	6,663	7,684	8,570
Increase / (Decrease) in Invested Capital	191	385	-7.77	155	164	6,453	-5,517	1,976	-749	1,021	897
Book Value per Share	$13.93	$14.11	$21.22	$14.21	$0.01	$17.25	$17.35	$17.54	$18.80	$19.61	$22.99
Tangible Book Value per Share	$11.59	$11.77	$17.74	$11.87	$0.01	$14.03	$15.12	$15.31	$15.11	$15.35	$20.38
Total Capital	4,080	4,436	4,504	4,670	4,946	5,556	5,996	6,554	7,194	8,127	9,048
Total Debt	2,343	2,680	2,743	2,906	3,193	3,436	3,762	4,309	4,784	5,533	5,600
Total Long-Term Debt	1,967	2,119	2,181	2,670	2,517	2,801	3,520	3,893	4,242	4,312	5,116
Net Debt	2,037	2,402	2,399	2,549	2,735	2,947	3,297	3,888	4,217	5,052	5,076
Capital Expenditures (CapEx)	559	600	500	501	616	679	935	913	1,043	1,244	1,196
Debt-free, Cash-free Net Working Capital (DFCFNWC)	86	140	17	24	-1.94	-13	-99	-67	-660	-535	-493
Debt-free Net Working Capital (DFNWC)	132	145	21	26	1.90	35	-98	-63	-213	-55	31
Net Working Capital (NWC)	-243	-416	-541	-210	-673	-600	-340	-479	-755	-1,276	-453
Net Nonoperating Expense (NNE)	53	61	38	118	107	70	55	160	166	160	246
Net Nonoperating Obligations (NNO)	2,067	2,433	2,420	2,572	2,747	8,833	3,202	5,167	4,252	5,089	5,122
Total Depreciation and Amortization (D&A)	223	242	268	276	301	315	320	341	354	423	483
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.20	$1.47	$1.00	$1.07	$0.97	$2.16	$2.28	$1.97	$1.02	$2.67	$1.49
Adjusted Weighted Average Basic Shares Outstanding	118.78M	118.78M	118.78M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
Adjusted Diluted Earnings per Share	$0.20	$1.46	$1.00	$1.07	$0.97	$2.15	$2.27	$1.97	$1.02	$2.67	$1.48
Adjusted Weighted Average Diluted Shares Outstanding	118.78M	118.78M	118.78M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
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	118.78M	118.78M	118.78M	118.78M	118.78B	124.96M	124.96M	124.96M	129.32M	131.78M	148.05M
Normalized Net Operating Profit after Tax (NOPAT)	84	192	221	280	101	257	267	345	162	419	416
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 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	-	-	-	-	-	-	-	-	-	148,045,513.00	148,045,513.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	148,045,513.00	148,045,513.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.07	0.03
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-30.69%	-28.43%	-19.70%	2.29%	12.53%	15.74%	10.51%	2.93%	13.69%	-	4.60%
EBITDA Growth	-34.19%	-67.54%	-7.94%	18.75%	69.95%	309.82%	9.70%	-10.33%	9.45%	-	9.93%
EBIT Growth	-51.46%	-178.95%	-30.81%	18.34%	117.67%	278.31%	7.80%	-35.63%	5.32%	-	10.23%
NOPAT Growth	-40.22%	-184.19%	25.97%	13.86%	65.10%	314.53%	-37.99%	-23.24%	9.22%	-	15.78%
Net Income Growth	-66.14%	-327.50%	-16.44%	5.14%	217.83%	143.72%	-74.59%	-49.94%	-0.07%	-	-37.45%
EPS Growth	-69.01%	-427.78%	-18.75%	0.00%	229.55%	128.81%	-80.77%	-58.49%	-15.86%	-	-70.00%
Operating Cash Flow Growth	-18.83%	-0.87%	-29.42%	-30.86%	5.78%	14.49%	52.19%	-95.39%	56.67%	-	8.45%
Free Cash Flow Firm Growth	6.57%	136.98%	-213.69%	88.69%	-19.19%	-232.74%	88.28%	-29.05%	-8.03%	-	24.66%
Invested Capital Growth	11.19%	-10.11%	750.96%	12.57%	12.68%	15.32%	14.29%	13.76%	12.18%	-	9.76%
Revenue Q/Q Growth	6.01%	-18.53%	6.01%	11.73%	16.63%	-16.21%	1.22%	4.07%	28.81%	-	-5.30%
EBITDA Q/Q Growth	-1.05%	-74.23%	272.43%	25.07%	41.61%	-37.87%	-0.31%	2.23%	72.85%	-	25.55%
EBIT Q/Q Growth	-4.12%	-149.66%	253.44%	61.98%	76.35%	-59.32%	-7.23%	-3.28%	188.54%	-	91.04%
NOPAT Q/Q Growth	24.79%	-133.12%	428.29%	-16.08%	80.95%	-56.97%	-5.11%	3.88%	157.48%	-	17.52%
Net Income Q/Q Growth	-13.17%	-206.56%	210.13%	3.17%	162.49%	-85.34%	-36.00%	103.27%	423.98%	-	251.38%
EPS Q/Q Growth	-16.98%	-234.09%	188.14%	1.92%	173.58%	-88.28%	-41.18%	120.00%	454.55%	-	150.00%
Operating Cash Flow Q/Q Growth	53.38%	-18.57%	-33.02%	-17.35%	134.65%	-11.87%	-10.96%	-97.50%	7,870.46%	-	-2.86%
Free Cash Flow Firm Q/Q Growth	91.07%	225.90%	-838.65%	90.92%	5.96%	-40.21%	2.15%	-0.02%	21.27%	-	16.87%
Invested Capital Q/Q Growth	2.81%	0.44%	-15.20%	4.15%	2.91%	2.79%	3.75%	3.66%	1.48%	-	1.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.00%	39.19%	53.48%	53.20%	63.15%	50.68%	49.13%	50.54%	58.04%	-	50.74%
EBITDA Margin	35.43%	11.21%	39.37%	44.07%	53.51%	39.68%	39.08%	38.39%	51.51%	-	41.07%
Operating Margin	17.13%	-11.34%	18.45%	21.65%	33.57%	15.96%	14.89%	14.47%	31.35%	-	15.25%
EBIT Margin	17.90%	-10.91%	15.79%	22.89%	34.61%	16.81%	15.40%	14.32%	32.07%	-	16.23%
Profit (Net Income) Margin	8.48%	-11.10%	11.53%	10.65%	23.96%	4.19%	2.65%	5.18%	21.06%	-	1.59%
Tax Burden Percent	113.99%	61.12%	133.26%	85.28%	85.34%	92.18%	92.63%	95.15%	87.79%	-	100.11%
Interest Burden Percent	41.59%	166.44%	54.79%	54.54%	81.11%	27.06%	18.58%	38.01%	74.81%	-	9.76%
Effective Tax Rate	-13.99%	0.00%	-33.26%	14.72%	14.66%	7.82%	7.37%	4.85%	12.21%	-	-0.11%
Return on Invested Capital (ROIC)	6.52%	-2.19%	15.26%	4.96%	7.74%	4.04%	3.72%	3.60%	7.32%	-	4.00%
ROIC Less NNEP Spread (ROIC-NNEP)	5.13%	-2.46%	7.73%	4.11%	7.17%	2.97%	2.64%	2.72%	6.47%	-	2.70%
Return on Net Nonoperating Assets (RNNOA)	9.01%	-4.98%	2.67%	7.64%	13.82%	5.54%	5.28%	4.70%	10.66%	-	4.71%
Return on Equity (ROE)	15.53%	-7.17%	17.93%	12.60%	21.57%	9.58%	9.00%	8.30%	17.98%	-	8.70%
Cash Return on Invested Capital (CROIC)	-5.89%	14.53%	-110.28%	-6.50%	-7.00%	-8.40%	-8.20%	-8.23%	-6.71%	-	-4.25%
Operating Return on Assets (OROA)	3.94%	-2.17%	5.60%	4.17%	6.32%	3.09%	2.87%	2.61%	5.93%	-	3.02%
Return on Assets (ROA)	1.87%	-2.21%	4.09%	1.94%	4.37%	0.77%	0.49%	0.95%	3.89%	-	0.29%
Return on Common Equity (ROCE)	15.53%	-7.00%	17.93%	12.60%	21.30%	9.35%	8.90%	8.21%	17.63%	-	8.54%
Return on Equity Simple (ROE_SIMPLE)	7.73%	0.00%	4.12%	4.14%	7.85%	0.00%	8.83%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	99	-33	107	90	163	70	67	69	178	66	77
NOPAT Margin	19.53%	-7.94%	24.58%	18.46%	28.65%	14.71%	13.79%	13.77%	27.52%	-	15.27%
Net Nonoperating Expense Percent (NNEP)	1.39%	0.28%	7.52%	0.86%	0.57%	1.07%	1.08%	0.88%	0.85%	-	1.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.46%	-	-	-	0.86%	0.79%	0.79%	2.01%	0.73%	0.84%
Cost of Revenue to Revenue	55.00%	60.81%	46.52%	46.80%	36.85%	49.32%	50.87%	49.46%	41.96%	-	49.26%
SG&A Expenses to Revenue	11.56%	14.62%	12.69%	12.21%	11.39%	14.10%	12.59%	15.13%	10.58%	-	13.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	27.87%	50.53%	35.04%	31.55%	29.58%	34.71%	34.24%	36.07%	26.69%	-	35.49%
Earnings before Interest and Taxes (EBIT)	91	-45	69	112	197	80	74	72	208	43	82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	179	46	172	215	305	189	189	193	333	165	207
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.59	1.45	1.32	1.27	1.51	1.65	1.82	1.52	1.41	-	1.44
Price to Tangible Book Value (P/TBV)	1.99	1.80	1.63	1.56	1.86	2.11	2.33	1.84	1.71	-	1.59
Price to Revenue (P/Rev)	1.74	1.75	1.74	1.71	1.95	2.12	2.26	2.38	2.28	-	2.28
Price to Earnings (P/E)	23.73	38.75	39.96	37.98	21.13	17.28	22.34	27.25	27.24	-	34.08
Dividend Yield	3.41%	3.71%	4.00%	4.12%	4.37%	3.18%	2.96%	2.82%	2.87%	-	2.83%
Earnings Yield	4.21%	2.58%	2.50%	2.63%	4.73%	5.79%	4.48%	3.67%	3.67%	-	2.93%
Enterprise Value to Invested Capital (EV/IC)	1.27	1.15	1.16	1.14	1.16	1.21	1.25	1.20	1.16	-	1.17
Enterprise Value to Revenue (EV/Rev)	4.02	3.96	4.41	4.51	4.57	4.72	4.95	4.89	4.62	-	4.67
Enterprise Value to EBITDA (EV/EBITDA)	12.26	12.95	13.96	13.56	11.80	10.55	11.12	11.34	10.78	-	11.37
Enterprise Value to EBIT (EV/EBIT)	24.74	32.05	38.65	36.69	26.15	20.30	21.55	23.44	22.46	-	25.28
Enterprise Value to NOPAT (EV/NOPAT)	28.46	28.13	22.80	22.71	25.06	22.20	26.01	27.50	25.72	-	24.17
Enterprise Value to Operating Cash Flow (EV/OCF)	15.30	13.94	15.76	17.36	17.83	18.29	17.94	20.54	16.65	-	17.14
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	7.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.09	1.98	2.02	2.09	2.14	2.13	2.28	1.72	1.55	-	1.61
Long-Term Debt to Equity	1.70	1.76	1.80	1.86	1.79	1.66	1.79	1.48	1.35	-	1.45
Financial Leverage	1.76	2.02	0.35	1.86	1.93	1.87	2.00	1.72	1.65	-	1.75
Leverage Ratio	4.18	4.19	2.36	4.22	4.34	4.29	4.34	3.90	3.81	-	3.87
Compound Leverage Factor	1.74	6.98	1.29	2.30	3.52	1.16	0.81	1.48	2.85	-	0.38
Debt to Total Capital	67.68%	66.49%	66.83%	67.62%	68.11%	68.07%	69.54%	63.20%	60.84%	-	61.70%
Short-Term Debt to Total Capital	12.77%	7.53%	7.23%	7.43%	11.02%	15.02%	15.05%	8.69%	8.07%	-	6.15%
Long-Term Debt to Total Capital	54.90%	58.96%	59.60%	60.20%	57.09%	53.05%	54.49%	54.51%	52.77%	-	55.55%
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%
Noncontrolling Interests to Total Capital	0.00%	0.85%	0.00%	0.00%	0.75%	0.72%	0.69%	0.66%	0.64%	-	0.65%
Common Equity to Total Capital	32.32%	32.65%	33.17%	32.38%	31.13%	31.21%	29.78%	36.14%	38.52%	-	37.65%
Debt to EBITDA	6.98	8.06	8.44	8.43	7.29	6.28	6.52	6.33	5.97	-	6.32
Net Debt to EBITDA	6.97	7.11	8.44	8.43	6.67	5.74	5.98	5.75	5.39	-	5.76
Long-Term Debt to EBITDA	5.66	7.15	7.53	7.51	6.11	4.89	5.11	5.46	5.18	-	5.69
Debt to NOPAT	16.20	17.52	13.79	14.12	15.50	13.22	15.24	15.36	14.24	-	13.43
Net Debt to NOPAT	16.17	15.44	13.78	14.11	14.17	12.07	13.99	13.95	12.85	-	12.25
Long-Term Debt to NOPAT	13.14	15.53	12.30	12.57	12.99	10.30	11.94	13.25	12.35	-	12.09
Altman Z-Score	0.52	0.45	0.49	0.50	0.52	0.47	0.49	0.59	0.62	-	0.60
Noncontrolling Interest Sharing Ratio	0.00%	2.46%	0.00%	0.00%	1.24%	2.40%	1.16%	1.01%	1.94%	-	1.94%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.33	0.39	0.43	0.54	0.36	0.28	0.29	0.51	0.51	-	0.55
Quick Ratio	0.19	0.58	0.22	0.31	0.54	0.40	0.42	0.70	0.72	-	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-569	716	-7,939	-721	-678	-951	-930	-931	-733	-832	-701
Operating Cash Flow to CapEx	63.82%	51.73%	32.42%	26.21%	55.61%	46.45%	41.23%	1.33%	101.69%	-	48.99%
Free Cash Flow to Firm to Interest Expense	-11.42	13.34	-147.67	-12.92	-11.37	-16.17	-14.64	-12.92	-10.44	-	-10.22
Operating Cash Flow to Interest Expense	3.41	2.58	1.73	1.37	3.02	2.70	2.22	0.05	4.02	-	2.23
Operating Cash Flow Less CapEx to Interest Expense	-1.94	-2.41	-3.60	-3.87	-2.41	-3.11	-3.17	-3.65	0.07	-	-2.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.20	0.35	0.18	0.18	0.18	0.19	0.18	0.18	-	0.19
Accounts Receivable Turnover	7.86	7.26	0.00	7.06	7.01	7.83	9.33	7.03	7.14	-	8.74
Inventory Turnover	16.46	13.21	11.68	10.53	9.45	6.62	6.71	6.53	6.79	-	5.74
Fixed Asset Turnover	0.30	0.26	0.00	0.24	0.24	0.24	0.25	0.24	0.24	-	0.24
Accounts Payable Turnover	8.57	5.17	7.63	7.17	6.57	4.28	6.17	6.49	6.85	-	6.41
Days Sales Outstanding (DSO)	46.41	50.29	0.00	51.70	52.09	46.63	39.12	51.90	51.09	-	41.74
Days Inventory Outstanding (DIO)	22.18	27.62	31.25	34.68	38.61	55.14	54.42	55.91	53.76	-	63.54
Days Payable Outstanding (DPO)	42.58	70.56	47.83	50.89	55.56	85.27	59.18	56.22	53.27	-	56.94
Cash Conversion Cycle (CCC)	26.01	7.35	-16.58	35.49	35.13	16.50	34.36	51.58	51.58	-	48.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,634	6,663	6,975	7,264	7,475	7,684	7,972	8,264	8,386	8,570	8,750
Invested Capital Turnover	0.33	0.28	0.62	0.27	0.27	0.27	0.27	0.26	0.27	-	0.26
Increase / (Decrease) in Invested Capital	668	-749	8,046	811	841	1,021	997	1,000	911	897	778
Enterprise Value (EV)	8,452	7,682	8,077	8,303	8,704	9,296	9,985	9,927	9,746	-	10,220
Market Capitalization	3,649	3,403	3,197	3,142	3,724	4,185	4,556	4,834	4,819	-	4,982
Book Value per Share	$18.39	$18.80	$18.74	$19.12	$19.02	$19.61	$19.00	$24.06	$23.64	$22.99	$23.40
Tangible Book Value per Share	$14.67	$15.11	$15.20	$15.60	$15.52	$15.35	$14.85	$19.93	$19.50	$20.38	$21.19
Total Capital	7,108	7,194	7,307	7,637	7,901	8,127	8,411	8,773	8,869	9,048	9,203
Total Debt	4,811	4,784	4,883	5,164	5,382	5,533	5,848	5,545	5,396	5,600	5,678
Total Long-Term Debt	3,903	4,242	4,355	4,597	4,511	4,312	4,583	4,783	4,680	5,116	5,112
Net Debt	4,803	4,217	4,880	5,161	4,921	5,052	5,372	5,035	4,870	5,076	5,178
Capital Expenditures (CapEx)	267	268	286	293	324	342	343	266	277	310	313
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-89	-660	-8.41	102	-464	-535	-415	-293	-391	-493	-395
Debt-free Net Working Capital (DFNWC)	-81	-213	-5.42	105	-3.41	-55	61	216	135	31	105
Net Working Capital (NWC)	-989	-755	-534	-462	-874	-1,276	-1,205	-547	-581	-453	-461
Net Nonoperating Expense (NNE)	56	13	57	38	27	50	54	43	42	71	69
Net Nonoperating Obligations (NNO)	4,337	4,252	4,552	4,792	4,956	5,089	5,410	5,036	4,913	5,122	5,225
Total Depreciation and Amortization (D&A)	89	91	103	103	108	109	114	121	126	122	125
Debt-free, Cash-free Net Working Capital to Revenue	-4.24%	-34.02%	-0.46%	5.54%	-24.35%	-27.16%	-20.60%	-14.45%	-18.52%	-	-18.05%
Debt-free Net Working Capital to Revenue	-3.87%	-10.99%	-0.30%	5.71%	-0.18%	-2.81%	3.01%	10.62%	6.42%	-	4.81%
Net Working Capital to Revenue	-47.05%	-38.94%	-29.13%	-25.06%	-45.84%	-64.75%	-59.73%	-26.91%	-27.53%	-	-21.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.44	($0.59)	$0.52	$0.53	$1.45	$0.17	$0.10	$0.22	$1.22	($0.05)	$0.03
Adjusted Weighted Average Basic Shares Outstanding	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
Adjusted Diluted Earnings per Share	$0.44	($0.59)	$0.52	$0.53	$1.45	$0.17	$0.10	$0.22	$1.22	($0.06)	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
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	124.96M	129.32M	129.32M	129.32M	129.32M	131.78M	131.78M	144.50M	148.05M	148.05M	149.83M
Normalized Net Operating Profit after Tax (NOPAT)	61	-33	56	90	163	70	67	69	178	66	54
Normalized NOPAT Margin	11.99%	-7.94%	12.91%	18.46%	28.65%	14.71%	13.79%	13.77%	27.52%	-	10.68%
Pre Tax Income Margin	7.44%	-18.16%	8.65%	12.48%	28.08%	4.55%	2.86%	5.44%	23.99%	-	1.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.82	-0.84	1.28	2.00	3.30	1.36	1.17	1.00	2.96	-	1.20
NOPAT to Interest Expense	1.98	-0.61	2.00	1.61	2.73	1.19	1.05	0.96	2.54	-	1.12
EBIT Less CapEx to Interest Expense	-3.53	-5.83	-4.04	-3.24	-2.12	-4.44	-4.22	-2.70	-0.99	-	-3.36
NOPAT Less CapEx to Interest Expense	-3.37	-5.60	-3.33	-3.63	-2.69	-4.61	-4.34	-2.74	-1.41	-	-3.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	84.57%	138.73%	154.86%	152.93%	80.98%	61.62%	73.48%	85.10%	89.37%	-	116.63%
Augmented Payout Ratio	90.22%	147.76%	161.77%	159.24%	85.12%	64.89%	77.70%	90.46%	93.93%	-	123.33%

Financials Breakdown Chart

Key Financial Trends

Here are the top takeaways from TXNM Energy's quarterly statements, highlighting trends across the past four years and what investors may want to watch going forward.

Revenue growth and margin improvement in 2025: TXNM posted Q4 2025 Total Revenue of $533.232 million, up from Q4 2024's $476.964 million (roughly +12% YoY). Gross Profit was $274.541 million in Q4 2025, yielding an approximate gross margin of 51.5% versus about 40.9% in Q4 2024.
Robust operating cash flow in the latest quarter: Q4 2025 shows Net Cash From Continuing Operating Activities of $157.699 million, underscoring strong cash generation from core operations (Q3 2025 also showed solid operating cash flow at $281.995 million).
Debt financing used to fund growth: In Q4 2025, TXNM issued debt totaling about $1.129 billion, contributing to financing activity and helping support capex and expansion plans.
Profitability in mid-2025: For Q3 2025, Total Operating Income was $202.87 million and Net Income/Shareholders’ Equity showed meaningful profitability (Net Income to Common Shareholders reached $130.71 million), indicating a productive period before the Q4 dip.
Financing activity supports balance sheet repositioning: Net Cash From Financing Activities in Q4 2025 was about $160.9 million, indicating ongoing financing activities that could support future capital needs.
Heavy capital expenditures indicate expansion activity: TXNM consistently invested in PPE in 2024–2025, with quarterly PPE purchases typically in the ~$270–340 million range (for example, Q4 2025 PPE outflow was $309.8 million; Q3 2025 was $277.3 million). These outflows support growth but reduce near-term cash flow.
Liquidity profile shows a working-capital tilt: On the Q3 2025 balance sheet, Total Current Assets were about $595.4 million vs. Total Current Liabilities of about $1,176.2 million, implying negative working capital and potential liquidity pressure in a given quarter.
Leverage remains elevated: Long-term debt sits around the $4.68–$4.78 billion range in 2025 quarters, signaling a highly leveraged balance sheet with potential interest and refinancing considerations.
Q4 2025 profitability missed expectations: Net income attributable to common shareholders in Q4 2025 was negative $9.85 million, with a pretax loss of about $16.39 million and tax expense of around $11.11 million.
Notable non-operating charges in Q4 2025: Total Other Income / (Expense), net was negative about $110.113 million in Q4 2025, weighing on quarterly results and signaling meaningful non-core charges.

05/05/26 11:39 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About TXNM Energy's Financials

When does TXNM Energy's financial year end?

According to the most recent income statement we have on file, TXNM Energy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

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

TXNM Energy's net income appears to be on an upward trend, with a most recent value of $169.83 million in 2025, rising from $31.08 million in 2015. The previous period was $258.72 million in 2024. See where experts think TXNM Energy is headed by visiting TXNM Energy's forecast page.

What is TXNM Energy's operating income?

TXNM Energy's total operating income in 2025 was $441.18 million, based on the following breakdown:

Total Gross Profit: $1.14 billion
Total Operating Expenses: $700.09 million

How has TXNM Energy's revenue changed over the last 10 years?

Over the last 10 years, TXNM Energy's total revenue changed from $1.44 billion in 2015 to $2.17 billion in 2025, a change of 50.5%.

How much debt does TXNM Energy have?

TXNM Energy's total liabilities were at $8.60 billion at the end of 2025, a 0.2% decrease from 2024, and a 101.3% increase since 2015.

How much cash does TXNM Energy have?

In the past 10 years, TXNM Energy's cash and equivalents has ranged from $1.10 million in 2021 to $47.93 million in 2020, and is currently $18.26 million as of their latest financial filing in 2025.

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

Over the last 10 years, TXNM Energy's book value per share changed from 13.93 in 2015 to 22.99 in 2025, a change of 65.0%.

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Financial statements for NYSE:TXNM last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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TXNM Energy (TXNM) Financials

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TXNM Energy (TXNM) Financials

Annual Income Statements for TXNM Energy

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