Saturday 17 October 2026 Export TXNM’s income statement to Excel — free account

TXNM Energy, Inc.

TXNM Utilities Utilities Regulated Electric

TXNM Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 9.86% from fiscal 2024. In the quarter to June 2026, revenue grew 9.18%, EPS grew 190.9%, free cash flow grew 25.8% and total debt rose 4.16%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

58.52 0.03 −0.05%

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Market cap: $6.5B
P/E: 32.3×
Fwd P/E: 19.2×
Dividend yield: 3.58%
F-score: 5/9
Altman Z: 0.77
Beneish M: −2.45
Dividend safety: 16/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.10

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 1.93%

Capital & Financial Ratios $m

Market Cap 6,450.00

Revenue 2,233.93

Net Income 214.41

Free Cash Flow (501.97)

Net Debt 5,401.12

Current Ratio 0.56

Debt/Equity 1.50

P/E ratio 32.33

Fwd P/E 19.20

P/S ratio 2.91

P/B ratio 1.81

Past 5Y EPS Growth (7.20%)

This Y EPS Growth 25.56%

Next Y EPS Growth 11.79%

Next Y revenue growth 9.16%

Next 5Y EPS Growth 15.84%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 57.57%

10-year low 10-year high

P/S against its own 10 years 95.72%

10-year low 10-year high

P/B against its own 10 years 54.70%

10-year low 10-year high

EV/Sales against its own 10 years 96.17%

10-year low 10-year high

Dividends

Payout Ratio 1.16

Annual Dividend Rate 2.10

Annual Dividend Yield 3.58%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.69	0.42 0.42 0.42 0.42
2025	1.63	0.41 0.41 0.41 0.41
2024	1.55	0.39 0.39 0.39 0.39
2023	1.47	0.37 0.37 0.37 0.37
2022	1.39	0.35 0.35 0.35 0.35
2021	1.31	0.33 0.33 0.33 0.33
2020	1.23	0.31 0.31 0.31 0.31
2019	1.16	0.29 0.29 0.29 0.29
2018	1.06	0.27 0.27 0.27 0.27
2017	0.97	0.24 0.24 0.24 0.24
2016	0.88	0.22 0.22 0.22 0.22

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2	4	18	15
Receivables	209	175	214	222
Inventory	98	167	181	194
Other	146	127	122	198
	476	499	565	660

	2023	2024	2025	Q'26
Payables	205	204	243	195
ST’ Debt	280	612	303	228
Other	338	194	111	139
	1,231	1,775	1,018	1,185

Compound Annual Growth %

	10y	5y	3y
Sales	4.17%	7.29%	(1.26%)
Cash Flow	4.21%	3.77%	1.00%
Earnings	25.48%	(2.61%)	(3.71%)
Book Value	7.13%	10.29%	15.31%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	505	549	—	—	—
’25	483	502	647	533	2,166
’24	437	488	569	477	1,971
’23	544	477	506	412	1,939
’22	444	500	730	576	2,250
’21	365	427	555	434	1,780
’20	334	358	472	359	1,523

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	153	70	—	—	—
’25	141	4	282	158	584
’24	93	77	180	159	508
’23	132	111	170	139	551
’22	117	101	210	140	567
’21	86	88	234	139	548
’20	94	72	202	118	486

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(160)	(195)	—	—	—
’25	(201)	(263)	5	(152)	(611)
’24	(193)	(216)	(144)	(183)	(736)
’23	(104)	(162)	(96)	(129)	(492)
’22	(93)	(165)	(18)	(70)	(345)
’21	(86)	(75)	73	(299)	(387)
’20	(46)	(132)	51	(66)	(193)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.03	0.64	—	—	—
’25	0.10	0.22	1.22	(0.08)	1.48
’24	0.52	0.53	1.45	0.17	2.67
’23	0.64	0.53	0.44	(0.58)	1.02
’22	0.19	0.18	1.42	0.18	1.97
’21	0.20	0.62	1.32	0.13	2.27
’20	(0.19)	0.72	1.52	0.11	2.15

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	29.22	33.35	33.75	39.71	27.08	43.84	43.43	41.44	34.63	45.71	Analyst estimates 2026–2028 Powerpack
	High	36.15	46.00	45.35	52.98	56.14	50.11	49.31	49.60	50.28	59.12
People
People	Employees	1,814	1,699	1,692	1,668	1,708	1,600	1,500	1,635	1,695	1,700
	Revenue/emp, $m	0.75	0.85	0.85	0.87	0.89	1.11	1.50	1.19	1.16	1.27
Income, $m
Income, $m	Revenue	1,363	1,445	1,437	1,458	1,523	1,780	2,250	1,939	1,971	2,166
	Gross margin, %	61.35	62.29	61.77	61.90	61.57	55.68	49.53	53.91	65.62	62.40
	EBT	195	226	109	67	208	244	211	91	280	180
	EBT margin, %	14.32	15.62	7.59	4.59	13.65	13.73	9.39	4.67	14.22	8.31
	Net income	132	95	101	55	187	212	185	107	259	170
	Depreciation	242	268	276	191	315	320	341	354	423	483
Per share, $
Per share, $	Revenue	17.09	18.09	17.98	18.24	19.00	20.68	26.12	22.47	21.77	21.33
	Earnings	1.47	1.00	1.07	0.97	2.16	2.28	1.97	1.02	2.67	1.49
	Cash flow	5.12	6.55	5.36	4.44	6.06	6.37	6.59	6.39	5.61	5.76
	Capex	(7.52)	(6.26)	(6.27)	(4.28)	(8.47)	(10.86)	(10.60)	(12.09)	(13.74)	(11.78)
	Free cash flow	(2.40)	0.29	(0.91)	0.17	(2.41)	(4.50)	(4.01)	(5.70)	(8.13)	(6.02)
	Book value	22.02	22.19	22.08	21.93	26.45	25.96	26.20	27.93	28.66	34.08
	Shares, m	80	80	80	80	80	86	86	86	91	102
Valuation, ×
Valuation, ×	P/E	23.28	39.95	38.05	52.28	22.47	20.00	24.87	37.97	18.42	40.33
	P/S	1.99	2.21	2.29	2.78	2.55	2.21	1.88	1.74	2.26	2.76
	P/B	1.55	1.81	1.87	2.33	1.84	1.77	1.88	1.41	1.72	1.73
	EV/Sales	3.74	3.89	4.47	4.84	4.69	4.28	3.69	4.07	4.75	5.25
	EV/FCF	(26.59)	244.57	(88.00)	531.57	(36.92)	(19.69)	(24.02)	(16.05)	(12.73)	(18.61)
Cash, $m
Cash, $m	Operating cash flow	408	523	428	355	486	548	567	551	508	584
	Capex	(600)	(500)	(501)	(342)	(679)	(935)	(913)	(1,043)	(1,244)	(1,196)
	Free cash flow	(192)	23	(73)	13	(193)	(387)	(345)	(492)	(736)	(611)
Balance, $m
Balance, $m	Working capital	(427)	(541)	(210)	(673)	(600)	(340)	(479)	(755)	(1,276)	(453)
	Total debt	2,393	2,438	2,906	3,008	3,295	3,699	4,077	4,522	4,923	5,419
	Net debt	2,388	2,434	2,904	3,004	3,247	3,698	4,073	4,520	4,919	5,400
	Shareholders’ equity	1,756	1,773	1,764	1,753	2,120	2,234	2,256	2,411	2,595	3,460
Returns, %
Returns, %	ROA	1.87	1.22	1.27	1.09	2.27	2.36	1.89	0.90	2.26	1.30
	ROIC	4.29	4.68	3.16	1.89	3.32	3.25	3.89	2.09	3.77	3.11
	ROE	6.73	4.56	4.87	4.43	8.97	9.04	7.59	3.78	9.72	5.02

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
KEP Korea Electric Power Corporation	$13.7B	2.5×	3.8×	−0.14% (below 0%: shrinking)	−77.78% (below 0%: shrinking)	−689.05% (below 0%: shrinking)	8.72%	5.15%	Compare
PNW Pinnacle West Capital Corporation	$12.3B	19.5×	21.9×	+7.14% (above 0%: growing)	−8.70% (below 0%: shrinking)	+36.77% (above 0%: growing)	61.64%	21.00%	Compare
OGE OGE Energy Corporation	$9.7B	20.8×	19.7×	−4.00% (below 0%: shrinking)	+5.66% (above 0%: growing)	+75.81% (above 0%: growing)	69.42%	26.91%	Compare
IDA IDACORP, Inc.	$7.9B	22.5×	22.1×	+4.20% (above 0%: growing)	+3.95% (above 0%: growing)	−100.67% (below 0%: shrinking)	72.82%	27.78%	Compare
TXNM TXNM Energy, Inc.	$6.5B	32.3×	19.2×	+9.18% (above 0%: growing)	+190.91% (above 0%: growing)	+25.75% (above 0%: growing)	65.46%	22.48%
ENIC Enel Chile S.A.	$6.1B	10.6×	—	−9.01% (below 0%: shrinking)	+60.00% (above 0%: growing)	+190.61% (above 0%: growing)	34.92%	17.46%	Compare
POR Portland General Electric Company	$5.2B	19.4×	15.3×	+0.87% (above 0%: growing)	+5.36% (above 0%: growing)	−257.58% (below 0%: shrinking)	49.88%	14.86%	Compare
NWE NorthWestern Corporation	$4.5B	26.9×	19.2×	+14.56% (above 0%: growing)	+17.14% (above 0%: growing)	−62.61% (below 0%: shrinking)	77.12%	16.36%	Compare
CIG Comp En De Mn Cemig ADS	$4.4B	5.6×	9.8×	+15.97% (above 0%: growing)	0.00%	+411.73% (above 0%: growing)	17.50%	15.58%	Compare
Median of peers	$7.0B	19.4×	19.2×	+2.54%	+4.66%	−12.92%	55.76%	16.91%

All 40 Utilities Regulated Electric stocks →

TXNM Energy, Inc. (TXNM) key facts

Concern: Net income was $169.8 million, or $1.49 per share (basic), a net margin of 6.99%.
Strength: TXNM Energy, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 9.86% from fiscal 2024.
TXNM Energy, Inc. (TXNM) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
As of October 16, 2026, TXNM traded at $58.52, a market capitalization of $6.5 billion.
At that price the stock trades at 32.3× trailing-twelve-month earnings and 2.9× sales; its P/E is higher than 58% of its own readings over the past ten years.
TXNM Energy, Inc. pays an annual dividend of $2.10 per share, a yield of 3.58%, with a payout ratio of 115.9%.
Return on equity was 5.02% and debt-to-equity 1.50.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.77 (distress zone) for fiscal 2025.