TXNMNYSEElectric ServicesFiscal year ends December 31
TXNM ENERGY INC
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 31, 2026
$58.51−0.01 (-0.02%)
Close on Oct 19, 2026
- Market cap
- $6.60B
- P/E (TTM)
- 42.4
- Dividend yield
- 2.82%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
20.4%+1.6 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.9% | -1.3% | +7.3% | – | |
| Operating income | -2.7% | +3.9% | +9.1% | +13.5% | |
| EPS, diluted | -44.6% | -9.1% | -7.2% | +22.2% | |
| Dividend per share | +5.1% | +5.4% | +5.7% | +7.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 7.0% | – | – | |
| Return on assets | 1.9% | – | – | |
| Current ratio | 0.47 | 0.39 | 0.55 | |
| Debt to equity | 1.60 | 1.62 | 1.65 | |
| Net debt to EBITDA | 5.08× | 5.47× | 6.04× | |
| Interest coverage | 2.2× | 2.5× | 1.6× | |
| Inventory turnover | – | 12.7× | – | |
| Capex to revenue | 44.0% | 44.6% | 55.2% | |
| Diluted shares | 80M | 80M | 102M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Txnm Energy generated $2.76B from operations and spent $6.08B on capital expenditure, dividends and share buybacks. 88% of that went back into the business.
Generated
$2.76B
Used
$6.08B
Capital expenditure$5.37B88%Dividends$663.23M11%Share buybacks$48.19M1%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.5%
×Asset turnover0.22×
×Equity multiplier3.89×
=Return on equity, FY20174.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2017 | 5.5% | 0.22× | 3.89× | 4.7% |
| FY2016 | 8.6% | 0.22× | 3.75× | 7.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$584.49M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$584.49M vs –
- Less leverageLong-term debt to assets fell38.5% → 42.4%
- Better liquidityCurrent ratio rose0.28 → 0.55
- No dilutionShare count did not rise91M → 102M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.19 → 0.19