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TXNM logoTXNM Energy, Inc.(TXNM)Earnings, Financials & Key Ratios

TXNM•NYSE•Utilities
$59.22
$6.45B mkt cap·36.6× P/E·Price updated May 7, 2026
SectorUtilitiesIndustryElectric UtilitiesSub-IndustryVertically integrated electric utilities
AboutTXNM Energy, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources. The TNMP segment provides regulated transmission and distribution services. The segment also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves residential, commercial, and industrial customers and end-users of electricity in New Mexico and Texas. The company was formerly known as PNM Resources, Inc and changed its name to TXNM Energy, Inc. in August 2024. TXNM Energy, Inc. was founded in 1882 and is based in Albuquerque, New Mexico.Show more
  • Revenue$2.17B+9.9%
  • EBITDA$867M-2.1%
  • Net Income$151M-37.6%
  • Free Cash Flow-$611M+17.2%
  • EBITDA Margin40.03%-10.9%
  • Net Margin6.99%-43.2%
  • ROE5.05%-48.0%
  • Interest Coverage1.54-30.7%
  • Debt/Equity0.00-100.0%
  • Net Debt/EBITDA0.00-100.0%
  • CapEx / Revenue0%-100.0%
Technical→

TXNM Key Insights

TXNM Energy, Inc. (TXNM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Healthy dividend yield of 3.0%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

TXNM Price & Volume

TXNM Energy, Inc. (TXNM) stock price & volume — 10-year historical chart

Loading chart...

TXNM Growth Metrics

TXNM Energy, Inc. (TXNM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years7.3%
3 Years-1.26%
TTM-16.57%

Profit CAGR

10 Years-
5 Years-2.67%
3 Years-3.81%
TTM-28.3%

EPS CAGR

10 Years-
5 Years-5.5%
3 Years-6.31%
TTM-39%

Return on Capital

10 Years4.5%
5 Years4.6%
3 Years4.82%
Last Year6.28%

TXNM Recent Earnings

TXNM Energy, Inc. (TXNM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 1, 2026
EPS
$0.21
Est $0.30
-30.6%
Revenue
$505M
Est $506M
-0.2%
Q1 2026
Feb 27, 2026
EPS
$0.48
Est $0.64
-25.2%
Revenue
$533M
Est $505M
+5.6%
Q4 2025
Oct 31, 2025
EPS
$1.33
Est $0.60
+120.9%
Revenue
$647M
Est $593M
+9.1%
Q3 2025
Aug 1, 2025
EPS
$0.25
Est $0.46
-45.7%
Revenue
$502M
Est $609M
-17.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$0.21vs $0.30-30.6%
$505Mvs $506M-0.2%
Q1 2026Feb 27, 2026
$0.48vs $0.64-25.2%
$533Mvs $505M+5.6%
Q4 2025Oct 31, 2025
$1.33vs $0.60+120.9%
$647Mvs $593M+9.1%
Q3 2025Aug 1, 2025
$0.25vs $0.46-45.7%
$502Mvs $609M-17.5%
Based on last 12 quarters of dataView full earnings history →

TXNM Peer Comparison

TXNM Energy, Inc. (TXNM) competitors in Vertically integrated electric utilities — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
PNW logoPNWPinnacle West Capital CorporationDirect Competitor12.06B99.5319.714.2%11.99%9.27%2.52
NWE logoNWENorthwestern Energy Group IncDirect Competitor4.45B72.4124.636.38%10.21%5.8%1.14
AVA logoAVAAvista CorporationDirect Competitor3.39B40.9817.221.34%10.75%7.65%1.25
OTTR logoOTTROtter Tail CorporationDirect Competitor3.69B87.8413.41-1.99%21.34%15.21%0.59
IDA logoIDAIDACORP, Inc.Direct Competitor7.94B143.2124.27-0.75%18.61%9.4%1.02
XEL logoXELXcel Energy Inc.Product Competitor50.2B80.4323.529.14%14.14%9.34%1.47
AEE logoAEEAmeren CorporationProduct Competitor30.09B108.7620.3315.43%17.17%11.6%1.47
WEC logoWECWEC Energy Group, Inc.Product Competitor36.74B112.7823.3513.96%16.25%11.64%1.59

Compare TXNM vs Peers

TXNM Energy, Inc. (TXNM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PNW

Most directly comparable listed peer for TXNM.

Scale Benchmark

vs GE

Larger-name benchmark to compare TXNM against a more recognizable public peer.

Peer Set

Compare Top 5

vs PNW, NWE, AVA, OTTR

TXNM Income Statement

TXNM Energy, Inc. (TXNM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue1.46B1.52B1.78B2.25B1.94B1.97B2.17B1.68B
Revenue Growth %-4.49%16.87%26.4%-13.8%1.65%9.86%-16.57%
Cost of Revenue892.93M938.67M1.15B1.53B1.31B1.16B1.34B1.02B
Gross Profit
564.58M▲ 0%
584.24M▲ 3.5%
625.65M▲ 7.1%
714.73M▲ 14.2%
627.1M▼ 12.3%
810.16M▲ 29.2%
824.79M▲ 1.8%
665.79M▲ 0%
Gross Margin %38.74%38.36%35.15%31.77%32.34%41.1%38.09%39.56%
Gross Profit Growth %-3.48%7.09%14.24%-12.26%29.19%1.81%-
Operating Expenses269.28M297.86M316.3M320.14M323.84M347.7M384.35M725.2M
Other Operating Expenses--------
EBITDA596.36M601.05M629.56M735.72M656.96M885.48M866.82M869.23M
EBITDA Margin %40.92%39.47%35.37%32.7%33.88%44.92%40.03%51.65%
EBITDA Growth %-0.79%4.74%16.86%-10.71%34.78%-2.11%-1.63%
Depreciation & Amortization301.07M314.67M320.21M341.12M353.69M423.01M425.64M423.66M
D&A / Revenue %20.66%20.66%17.99%15.16%18.24%21.46%19.65%25.18%
Operating Income (EBIT)
295.3M▲ 0%
286.38M▼ 3.0%
309.35M▲ 8.0%
394.59M▲ 27.6%
303.26M▼ 23.1%
462.47M▲ 52.5%
441.18M▼ 4.6%
445.57M▲ 0%
Operating Margin %20.26%18.8%17.38%17.54%15.64%23.46%20.37%26.48%
Operating Income Growth %--3.02%8.02%27.56%-23.15%52.5%-4.6%-
Interest Expense121.02M114.39M96.88M127.91M190.35M228.07M335M4M
Interest Coverage1.60x2.84x3.55x2.67x1.44x2.22x1.54x-
Interest / Revenue %8.3%7.51%5.44%5.69%9.82%11.57%15.47%0.24%
Non-Operating Income-1000K-1000K-1000K-1000K-1000K-1000K-1000K-4M
Pretax Income
66.85M▲ 0%
207.95M▲ 211.1%
244.43M▲ 17.5%
211.31M▼ 13.5%
90.53M▼ 57.2%
280.24M▲ 209.6%
180.01M▼ 35.8%
174.19M▲ 0%
Pretax Margin %4.59%13.65%13.73%9.39%4.67%14.22%8.31%10.35%
Income Tax-25.28M20.64M32.58M26.13M-16.35M21.52M10.19M13.43M
Effective Tax Rate %-37.82%9.92%13.33%12.37%-18.06%7.68%5.66%7.71%
Net Income
77.89M▲ 0%
173.3M▲ 122.5%
196.36M▲ 13.3%
170.06M▼ 13.4%
88.35M▼ 48.0%
242.68M▲ 174.7%
151.36M▼ 37.6%
146.57M▲ 0%
Net Margin %5.34%11.38%11.03%7.56%4.56%12.31%6.99%8.71%
Net Income Growth %-122.5%13.3%-13.39%-48.05%174.69%-37.63%-28.3%
EPS (Diluted)
0.96▲ 0%
2.15▲ 123.2%
2.27▲ 5.6%
1.97▼ 13.2%
1.02▼ 48.2%
2.67▲ 161.8%
1.62▼ 39.3%
-▲ 0%
EPS Growth %-123.17%5.58%-13.22%-48.22%161.76%-39.33%-39%
EPS (Basic)0.972.162.281.971.022.671.63-
Diluted Shares Outstanding80.3M80.3M86.11M86.17M86.37M90.59M93.18M0

TXNM Balance Sheet

TXNM Energy, Inc. (TXNM) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets7.69B8.33B9.02B9.63B10.59B11.55B4.35B0
Asset Growth %-8.31%8.2%6.76%10.03%9.04%-62.37%-141.65%
PP&E (Net)5.61B6.09B6.86B7.06B7.82B8.74B21.1M0
PP&E / Total Assets %72.92%73.14%76.06%73.3%73.85%75.67%0.49%-
Total Current Assets294.01M377.48M324.6M410.98M475.54M498.84M12.57M0
Cash & Equivalents3.83M47.93M1.1M4.08M2.21M4.5M1.62M0
Receivables1000K1000K1000K1000K1000K1000K00
Inventory77.93M66.42M65.06M66.73M98.03M166.86M00
Other Current Assets51.84M64.75M16.42M51.89M81.97M57.58M10.95M0
Long-Term Investments454.35M531.05M552.55M508.27M565.88M493.37M0984.91M
Goodwill278.3M278.3M278.3M278.3M278.3M278.3M00
Intangible Assets00000000
Other Assets662.44M658.67M653.59M1B1.11B1.2B4.31B0
Total Liabilities5.94B6.21B6.78B7.37B8.18B8.95B953.99M8.61B
Total Debt3.34B3.46B3.87B4.39B4.99B5.83B2.6M614.72M
Net Debt3.33B3.41B3.87B4.39B4.99B5.82B982K614.72M
Long-Term Debt2.52B2.72B3.52B3.89B4.24B4.31B041.05M
Short-Term Borrowings706.07M639.45M275.07M442.94M563.11M1.24B2.6M573.67M
Capital Lease Obligations112.61M97.04M72.07M57.46M184.33M271.85M0586.66M
Total Current Liabilities967.48M977.66M664.21M890.37M1.23B1.78B66.78M1.02B
Accounts Payable103.12M169.32M172.59M215.71M205.18M204.47M0157.44M
Accrued Expenses00000000
Deferred Revenue178.65M239.26M317.12M326.29M301.74M342.4M07.03M
Other Current Liabilities158.29M168.9M216.55M231.72M462.47M326.31M64.18M442.21M
Deferred Taxes1000K1000K1000K1000K1000K1000K02.83B
Other Liabilities1.14B1.09B1.09B1.01B1.04B1.02B887.2M6.15B
Total Equity
1.75B▲ 0%
2.12B▲ 20.9%
2.23B▲ 5.4%
2.26B▲ 1.0%
2.41B▲ 6.8%
2.59B▲ 7.6%
3.4B▲ 31.2%
3.51B▲ 0%
Equity Growth %-20.92%5.4%0.98%6.83%7.64%31.19%137.21%
Shareholders Equity1.69B2.06B2.18B2.2B2.36B2.55B3.4B3.46B
Minority Interest63.05M59.01M55.41M52.99M49.96M46.9M048.6M
Common Stock1.15B1.43B1.43B1.43B1.62B1.72B2.56B2.67B
Additional Paid-in Capital00000000
Retained Earnings627.52M698.71M810.2M828.88M787.11M887.65M866.9M823.87M
Accumulated OCI-99.38M-79.18M-71.94M-66.05M-62.84M-75.71M-26.82M-26.25M
Return on Assets (ROA)1.01%2.16%2.26%1.82%0.87%2.19%1.9%2.09%
Return on Equity (ROE)4.44%8.95%9.02%7.57%3.79%9.7%5.05%4.3%
Debt / Equity1.90x1.63x1.73x1.95x2.07x2.25x0.00x0.00x
Debt / Assets43.36%41.48%42.89%45.64%47.11%50.47%0.06%-
Net Debt / EBITDA5.59x5.67x6.14x5.97x7.59x6.58x0.00x0.00x
Book Value per Share21.8326.425.9526.1927.9128.6436.5336.53

TXNM Cash Flow Statement

TXNM Energy, Inc. (TXNM) cash flow — operating, investing & free cash flow history

Line itemDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations503.16M485.7M547.87M567.28M551.17M508.16M584.49M584.49M
Operating CF Growth %--3.47%12.8%3.54%-2.84%-7.8%15.02%-121.12%
Operating CF / Revenue %34.52%31.89%30.78%25.22%28.42%25.78%26.99%34.73%
Net Income92.13M173.3M196.36M170.06M106.88M242.68M0146.57M
Depreciation & Amortization301.07M314.67M320.21M341.12M353.69M423.01M0170.9M
Deferred Taxes-25.39M20.41M30.75M24.53M-13.51M43.05M015.82M
Other Non-Cash Items114.42M-14.24M-7.93M82.89M38.5M-20M678.04M312.33M
Working Capital Changes14.51M-16.57M-961K-59.14M58.42M-190.06M-93.56M-103.58M
Capital Expenditures-616.27M-679.03M-935.02M-912.56M-1.08B-1.25B-1.2B-853.3M
CapEx / Revenue %42.28%44.59%52.54%40.57%55.48%63.26%0%32.3%
CapEx / D&A2.05x2.16x2.92x2.68x3.04x2.95x-3.18x
CapEx Coverage (OCF/CapEx)0.82x0.72x0.59x0.62x0.51x0.41x-1.08x
Cash from Investing-673.9M-733.8M-952.26M-950.35M-1.09B-1.17B-1.22B-978.87M
Acquisitions000032.65M2.84M00
Purchase of Investments-552.12M-630.84M-477.67M-564.91M-619.49M-769.36M0-352.6M
Sale of Investments494.53M591M460.44M526.45M574.2M824.27M0350.62M
Other Investing-37K-14.93M-9K674K44K14.91M-1.22B-433.4M
Cash from Financing172.45M292.19M357.56M386.04M537.1M684.35M642.52M512.39M
Dividends Paid-92.93M-98.5M-112.97M-119.84M-126.7M-140.34M-162.84M-125.48M
Dividend Payout Ratio %119.3%56.84%57.53%70.47%143.42%57.83%107.94%-
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K1000K-1000K
Stock Issued943K283.23M00198.18M98.6M842.74M842.74M
Share Repurchases-9.92M-11.98M-10.13M-7.98M-9.65M-8.46M-11.97M-5.67M
Other Financing-12.55M-17.45M44.96M-33.94M-2.72M-26.32M-100.59M41.6M
Net Change in Cash
1.71M▲ 0%
44.09M▲ 2477.1%
-46.82M▼ 206.2%
2.97M▲ 106.4%
-1.86M▼ 162.6%
2.28M▲ 222.5%
13.76M▲ 502.6%
-9.52M▲ 0%
Exchange Rate Effect0000-1.73M-15.86M3.89M-11.97M
Cash at Beginning2.12M3.83M47.93M1.1M4.08M2.21M61K15.25M
Cash at End3.83M47.93M1.1M4.08M2.21M4.5M1.62M1.64M
Free Cash Flow
-113.11M▲ 0%
-193.33M▼ 70.9%
-387.14M▼ 100.3%
-345.27M▲ 10.8%
-524.64M▼ 51.9%
-738.88M▼ 40.8%
-611.43M▲ 17.2%
-384.37M▲ 0%
FCF Growth %--70.92%-100.25%10.82%-51.95%-40.84%17.25%48.33%
FCF Margin %-7.76%-12.69%-21.75%-15.35%-27.05%-37.48%-28.23%-22.84%
FCF / Net Income %-145.22%-111.55%-197.16%-203.03%-593.85%-304.46%-403.95%-262.24%

TXNM Key Ratios

TXNM Energy, Inc. (TXNM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric202020212022202320242025TTM
Return on Equity (ROE)8.95%9.02%7.57%3.79%9.7%5.05%4.3%
EBITDA Margin39.47%35.37%32.7%33.88%44.92%40.03%51.65%
Net Debt / EBITDA5.67x6.14x5.97x7.59x6.58x0.00x0.00x
Interest Coverage2.84x3.55x2.67x1.44x2.22x1.54x-
CapEx / Revenue44.59%52.54%40.57%55.48%63.26%0%32.3%
Dividend Payout Ratio56.84%57.53%70.47%143.42%57.83%107.94%85.61%
Debt / Equity1.63x1.73x1.95x2.07x2.25x0.00x0.00x
EPS Growth123.17%5.58%-13.22%-48.22%161.76%-39.33%-39%

TXNM SEC Filings & Documents

TXNM Energy, Inc. (TXNM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 31, 2026·SEC

Material company update

Mar 3, 2026·SEC

Material company update

Mar 3, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 1, 2026·SEC

FY 2025

Oct 31, 2025·SEC

FY 2025

Aug 1, 2025·SEC

TXNM Frequently Asked Questions

TXNM Energy, Inc. (TXNM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

TXNM Energy, Inc. (TXNM) reported $1.68B in revenue for fiscal year 2025. This represents a 15% increase from $1.46B in 2019.

TXNM Energy, Inc. (TXNM) grew revenue by 9.9% over the past year. This is steady growth.

Yes, TXNM Energy, Inc. (TXNM) is profitable, generating $146.6M in net income for fiscal year 2025 (7.0% net margin).

Dividend & Returns

Yes, TXNM Energy, Inc. (TXNM) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.

TXNM Energy, Inc. (TXNM) has a return on equity (ROE) of 5.0%. This is below average, suggesting room for improvement.

TXNM Energy, Inc. (TXNM) had negative free cash flow of $384.4M in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics

TXNM Energy, Inc. (TXNM) has a dividend payout ratio of 108%. The high payout ratio may limit dividend growth.

Explore More TXNM

TXNM Energy, Inc. (TXNM) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

→

Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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