# Atmos Energy Corporation (ATO) — Stock CV

Atmos Energy Corporation 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.

> 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.

## Identity

- **Ticker**: ATO
- **Sector**: Utilities
- **Industry**: Natural Gas Distribution
- **Headquarters**: DALLAS, TX
- **Employees**: 5 487
- **Website**: https://www.atmosenergy.com
- **Market cap**: $27.3B
- **Last price**: $161.66
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $4.92B
- **Net income**: $1.40B
- **Free cash flow**: -$2.02B
- **Net debt**: $8.72B
- **P/E**: 19.5
- **Revenue growth (YoY)**: 6.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 52 |
| Growth | 64 |
| Profitability | 67 |
| Health | 46 |
| Quality | 60 |
| Moat | 50 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +6.5% YoY
- [x] Profitable — $1.40B TTM
- [x] Profit growing — +10.0% YoY
- [ ] Generates cash — -$2.02B TTM
- [ ] Debt under control — current ratio 0.81
- [x] Established company — $27.3B market cap
- [ ] Not printing shares — +30.7% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — Altman Z 1.5 — distress
- [x] Pays a dividend — yield 2.31%
- [x] Valuation not extreme — P/E 19.5

## Experience (career milestones)

- **FY2025** — Best year on record: $1.20B net income
- **FY2016** — Profitable every year on record: 9 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $3.35B in first reported year
- **1988** — Energas changed its corporate name to Atmos Energy Corporation and its stock began trading on the…
- **1983** — Energas, the natural gas distribution division of Pioneer, was spun off and became an independent, publicly…
- **1981** — The company was incorporated and became a fully regulated natural-gas-only distributor

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $3.41B | $665M | -$3.05B |
| FY2022 | $4.20B | $774M | -$1.47B |
| FY2023 | $4.28B | $886M | $654M |
| FY2024 | $4.17B | $1.04B | -$1.20B |
| FY2025 | $4.70B | $1.20B | -$1.51B |

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Source: https://stockcv.com/ATO — derived from company filings; may be delayed or incomplete. Information, not investment advice.