Atmos Energy is the largest publicly traded, fully regulated, pure-play natural gas utility in the United States, serving more than 3.3 million customers in Texas, Colorado, Kansas, Kentucky, Louisiana, Mississippi, Tennessee, and Virginia.
It is a $27.3B utility company. Revenue grew 6.5% over the last year, it keeps 28¢ of every dollar of sales as profit, and it carries $8.72B of net debt. It trades at 19.5× earnings — in the cheapest third of its own history.
- Website
- atmosenergy.com
- Location
- Dallas, TX
- Employees
- 5 487
- Sector
- Utilities
- Founded
- 1981
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Health lags behind.
Valuation52
- P/E vs own history22th pct · 20/25
- FCF yield-7.4% · 0/25
- P/S5.6x · 12/25
- EV/EBITDA14.3x · 20/25
Growth64
- Revenue CAGR8.4% · 12/25
- Net income CAGR15.9% · 20/25
- EPS CAGR ~5Y11.4% · 20/25
- Fwd implied growth11.9% · 12/25
Profitability67
- ROIC5.4% · 5/25
- ROE9.7% · 12/25
- Net margin28.5% · 25/25
- Operating margin37.0% · 25/25
Health46
- Altman Z1.53 · 10/25
- Current ratio0.81 · 6/25
- Interest coverage11.4x · 25/25
- Net cash / debtD/A 31% · 5/25
Quality60
- Piotroski F5/9 · 15/25
- Beneish M-2.72 · 25/25
- FCF conversion-144% · 0/25
- Margin stabilityσ 5.1% · 20/25
Moat50
- ROIC >12% years0/9 yrs · 0/25
- Median gross margin72.4% · 25/25
- FCF-positive years1/10 yrs · 0/25
- Worst-year net marginworst 10.5% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$1.20B net income
- FY2016FinancialProfitable every year on record9 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$3.35B in first reported year
- 1988AcquisitionEnergas changed its corporate name to Atmos Energy Corporation and its stock began trading on the…
- 1983MilestoneEnergas, the natural gas distribution division of Pioneer, was spun off and became an independent, publicly…
- 1981FoundedThe company was incorporated and became a fully regulated natural-gas-only distributor
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (48.1%)
- Strongly profitable — 28.5% net margin
- Interest covered 11.4× by operating earnings
Watch-outs
- Negative free cash flow (-$2.0B)
- Altman Z-Score 1.53 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+6.5% YoY
- Profitable — makes more than it spends$1.40B TTM
- Profit growing — earnings are higher than last year+10.0% YoY
- Generates cash — cash left after running and investing-$2.02B TTM
- Debt under control — could handle its obligationscurrent ratio 0.81
- Established company — not a micro-cap — lower blow-up risk$27.3B market cap
- Not printing shares — share count not ballooning — you keep your slice+30.7% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 1.5 — distress
- Pays a dividend — returns cash to shareholdersyield 2.31%
- Valuation not extreme — price not wildly above earningsP/E 19.5
Peer comparisonAtmos Energy Corporation vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ATO this company | $27.3B | 19.5 | +6.5% | 28.5% | Mixed |
| NEE NextEra Energy, Inc. | $161.3B | 17.4 | +10.8% | 32.4% | Strained |
| CEG Constellation Energy Corporation | $105.8B | 30.5 | +26.0% | 11.1% | Strained |
| SO The Southern Company | $99.1B | 21.3 | +6.4% | 15.4% | Strained |
| DUK Duke Energy Corporation | $90.9B | 17.3 | +6.3% | 15.8% | Strained |
| WMB Williams Companies Inc. | $89.2B | 29.0 | +8.7% | 25.2% | Strained |
| KMI Kinder Morgan, Inc. | $72.4B | 20.9 | +12.5% | 19.3% | Strained |
Head-to-head: ATO vs NEE · ATO vs CEG · ATO vs SO
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ATO
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of ATO on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $161.66 · market cap $27.3B.