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TXNM Energy, Inc.(TXNM)Earnings, Financials & Key Ratios
TXNM•NYSE•Utilities
35.2× P/E·Price updated Jun 19, 2026
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%
TXNM Key Insights
TXNM Energy, Inc. (TXNM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓14 years of consecutive dividend growth
- ✓14 consecutive years of dividend growth
- ✓Healthy dividend yield of 3.1%
- ✓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.
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TXNM Price & Volume
TXNM Energy, Inc. (TXNM) stock price & volume — 10-year historical chart
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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%
TTM8.46%
Profit CAGR
10 Years-
5 Years-2.67%
3 Years-3.81%
TTM-28.23%
EPS CAGR
10 Years-
5 Years-5.5%
3 Years-6.31%
TTM-38.55%
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
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 1, 2026Metric
Actual
Est
EPS
$0.21-30.6%
$0.30
Rev
$505M-0.2%
$506M
Q1 2026
Feb 27, 2026Metric
Actual
Est
EPS
$0.48-25.2%
$0.64
Rev
$533M+5.6%
$505M
Q4 2025
Oct 31, 2025Metric
Actual
Est
EPS
$1.33+120.9%
$0.60
Rev
$647M+9.1%
$593M
Q3 2025
Aug 1, 2025Metric
Actual
Est
EPS
$0.25-45.7%
$0.46
Rev
$502M-17.5%
$609M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 1, 2026 | $0.21vs $0.30-30.6% | $505Mvs $506M-0.2% |
| Q1 2026 | Feb 27, 2026 | $0.48vs $0.64-25.2% | $533Mvs $505M+5.6% |
| Q4 2025 | Oct 31, 2025 | $1.33vs $0.60+120.9% | $647Mvs $593M+9.1% |
| Q3 2025 | Aug 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
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PNW | 12.4B | 102.33 | 20.26 | 4.2% | 11.99% | 9.27% | 2.52 | |
 NWE | 4.3B | 69.88 | 23.77 | 6.38% | 10.21% | 5.8% | 1.14 | |
 AVA | 3.29B | 39.76 | 16.71 | 1.34% | 10.75% | 7.65% | 1.25 | |
 OTTR | 3.67B | 87.50 | 13.36 | -1.99% | 21.34% | 15.21% | 0.59 | |
 IDA | 7.89B | 142.37 | 24.13 | -0.75% | 18.61% | 9.4% | 1.02 | |
 XEL | 48.32B | 77.41 | 22.63 | 9.14% | 14.14% | 9.34% | 1.47 | |
 AEE | 30.06B | 108.67 | 20.31 | 15.43% | 17.17% | 11.6% | 1.47 | |
 WEC | 36.54B | 112.17 | 23.22 | 13.96% | 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.
TXNM Income Statement
TXNM Energy, Inc. (TXNM) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Revenue | 1.46B | 1.52B | 1.78B | 2.25B | 1.94B | 1.97B | 2.17B | 2.19B |
Revenue Growth % | - | 4.49% | 16.87% | 26.4% | -13.8% | 1.65% | 9.86% | 8.46% |
Cost of Revenue | 892.93M | 938.67M | 1.15B | 1.53B | 1.31B | 1.16B | 1.34B | 1.35B |
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% | 841.66M▲ 0% |
Gross Margin % | 38.74% | 38.36% | 35.15% | 31.77% | 32.34% | 41.1% | 38.09% | 38.47% |
Gross Profit Growth % | - | 3.48% | 7.09% | 14.24% | -12.26% | 29.19% | 1.81% | - |
Operating Expenses | 269.28M | 297.86M | 316.3M | 320.14M | 323.84M | 347.7M | 384.35M | 396.09M |
Other Operating Expenses | - | - | - | - | - | - | - | - |
EBITDA | 596.36M | 601.05M | 629.56M | 735.72M | 656.96M | 885.48M | 866.82M | 882.34M |
EBITDA Margin % | 40.92% | 39.47% | 35.37% | 32.7% | 33.88% | 44.92% | 40.03% | 40.33% |
EBITDA Growth % | - | 0.79% | 4.74% | 16.86% | -10.71% | 34.78% | -2.11% | -0.14% |
Depreciation & Amortization | 301.07M | 314.67M | 320.21M | 341.12M | 353.69M | 423.01M | 425.64M | 436.77M |
D&A / Revenue % | 20.66% | 20.66% | 17.99% | 15.16% | 18.24% | 21.46% | 19.65% | 19.96% |
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% | 20.37% |
Operating Income Growth % | - | -3.02% | 8.02% | 27.56% | -23.15% | 52.5% | -4.6% | - |
Interest Expense | 121.02M | 114.39M | 96.88M | 127.91M | 190.35M | 228.07M | 335M | 4M |
Interest Coverage | 1.60x | 2.84x | 3.55x | 2.67x | 1.44x | 2.22x | 1.54x | - |
Interest / Revenue % | 8.3% | 7.51% | 5.44% | 5.69% | 9.82% | 11.57% | 15.47% | 0.18% |
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% | 7.96% |
Income Tax | -25.28M | 20.64M | 32.58M | 26.13M | -16.35M | 21.52M | 10.19M | 9.16M |
Effective Tax Rate % | -37.82% | 9.92% | 13.33% | 12.37% | -18.06% | 7.68% | 5.66% | 5.26% |
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% | 146.7M▲ 0% |
Net Margin % | 5.34% | 11.38% | 11.03% | 7.56% | 4.56% | 12.31% | 6.99% | 6.71% |
Net Income Growth % | - | 122.5% | 13.3% | -13.39% | -48.05% | 174.69% | -37.63% | -28.23% |
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% | 1.57▲ 0% |
EPS Growth % | - | 123.17% | 5.58% | -13.22% | -48.22% | 161.76% | -39.33% | -38.55% |
EPS (Basic) | 0.97 | 2.16 | 2.28 | 1.97 | 1.02 | 2.67 | 1.63 | - |
Diluted Shares Outstanding | 80.3M | 80.3M | 86.11M | 86.17M | 86.37M | 90.59M | 93.18M | 93.18M |
TXNM Balance Sheet
TXNM Energy, Inc. (TXNM) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Assets | 7.69B | 8.33B | 9.02B | 9.63B | 10.59B | 11.55B | 4.35B | 12.14B |
Asset Growth % | - | 8.31% | 8.2% | 6.76% | 10.03% | 9.04% | -62.37% | -35.09% |
PP&E (Net) | 5.61B | 6.09B | 6.86B | 7.06B | 7.82B | 8.74B | 21.1M | 0 |
PP&E / Total Assets % | 72.92% | 73.14% | 76.06% | 73.3% | 73.85% | 75.67% | 0.49% | 0% |
Total Current Assets | 294.01M | 377.48M | 324.6M | 410.98M | 475.54M | 498.84M | 12.57M | 562.22M |
Cash & Equivalents | 3.83M | 47.93M | 1.1M | 4.08M | 2.21M | 4.5M | 1.62M | 5.62M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K |
Inventory | 77.93M | 66.42M | 65.06M | 66.73M | 98.03M | 166.86M | 0 | 0 |
Other Current Assets | 51.84M | 64.75M | 16.42M | 51.89M | 81.97M | 57.58M | 10.95M | 280.87M |
Long-Term Investments | 454.35M | 531.05M | 552.55M | 508.27M | 565.88M | 493.37M | 0 | 1.49B |
Goodwill | 278.3M | 278.3M | 278.3M | 278.3M | 278.3M | 278.3M | 0 | 278.3M |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Assets | 662.44M | 658.67M | 653.59M | 1B | 1.11B | 1.2B | 4.31B | 10.8B |
Total Liabilities | 5.94B | 6.21B | 6.78B | 7.37B | 8.18B | 8.95B | 953.99M | 8.61B |
Total Debt | 3.34B | 3.46B | 3.87B | 4.39B | 4.99B | 5.83B | 2.6M | 614.72M |
Net Debt | 3.33B | 3.41B | 3.87B | 4.39B | 4.99B | 5.82B | 982K | 609.1M |
Long-Term Debt | 2.52B | 2.72B | 3.52B | 3.89B | 4.24B | 4.31B | 0 | 41.05M |
Short-Term Borrowings | 706.07M | 639.45M | 275.07M | 442.94M | 563.11M | 1.24B | 2.6M | 573.67M |
Capital Lease Obligations | 112.61M | 97.04M | 72.07M | 57.46M | 184.33M | 271.85M | 0 | 586.66M |
Total Current Liabilities | 967.48M | 977.66M | 664.21M | 890.37M | 1.23B | 1.78B | 66.78M | 1.02B |
Accounts Payable | 103.12M | 169.32M | 172.59M | 215.71M | 205.18M | 204.47M | 0 | 157.44M |
Accrued Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Revenue | 178.65M | 239.26M | 317.12M | 326.29M | 301.74M | 342.4M | 0 | 7.03M |
Other Current Liabilities | 158.29M | 168.9M | 216.55M | 231.72M | 462.47M | 326.31M | 64.18M | 284.77M |
Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 2.83B |
Other Liabilities | 1.14B | 1.09B | 1.09B | 1.01B | 1.04B | 1.02B | 887.2M | 6.15B |
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 Equity | 1.69B | 2.06B | 2.18B | 2.2B | 2.36B | 2.55B | 3.4B | 3.46B |
Minority Interest | 63.05M | 59.01M | 55.41M | 52.99M | 49.96M | 46.9M | 0 | 48.6M |
Common Stock | 1.15B | 1.43B | 1.43B | 1.43B | 1.62B | 1.72B | 2.56B | 2.67B |
Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Retained Earnings | 627.52M | 698.71M | 810.2M | 828.88M | 787.11M | 887.65M | 866.9M | 823.87M |
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% | 1.46% |
Return on Equity (ROE) | 4.44% | 8.95% | 9.02% | 7.57% | 3.79% | 9.7% | 5.05% | 4.31% |
Debt / Equity | 1.90x | 1.63x | 1.73x | 1.95x | 2.07x | 2.25x | 0.00x | 0.17x |
Debt / Assets | 43.36% | 41.48% | 42.89% | 45.64% | 47.11% | 50.47% | 0.06% | 5.06% |
Net Debt / EBITDA | 5.59x | 5.67x | 6.14x | 5.97x | 7.59x | 6.58x | 0.00x | 0.69x |
Book Value per Share | 21.83 | 26.4 | 25.95 | 26.19 | 27.91 | 28.64 | 36.53 | 37.71 |
TXNM Cash Flow Statement
TXNM Energy, Inc. (TXNM) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | 503.16M | 485.7M | 547.87M | 567.28M | 551.17M | 508.16M | 584.49M | 596.42M |
Operating CF Growth % | - | -3.47% | 12.8% | 3.54% | -2.84% | -7.8% | 15.02% | -30.87% |
Operating CF / Revenue % | 34.52% | 31.89% | 30.78% | 25.22% | 28.42% | 25.78% | 26.99% | 27.26% |
Net Income | 92.13M | 187.32M | 211.85M | 185.18M | 106.88M | 258.72M | 169.83M | 146.7M |
Depreciation & Amortization | 301.07M | 314.67M | 320.21M | 341.12M | 353.69M | 423.01M | 483.38M | 407.83M |
Deferred Taxes | -25.39M | 20.41M | 30.75M | 24.53M | -13.51M | 43.05M | 8.47M | 16.17M |
Other Non-Cash Items | 114.42M | -28.26M | -23.42M | 67.77M | 38.5M | -36.04M | 7.65M | 99.43M |
Working Capital Changes | 14.51M | -16.57M | -961K | -59.14M | 58.42M | -190.06M | -93.56M | -93.52M |
Capital Expenditures | -616.27M | -679.03M | -935.02M | -912.56M | -1.08B | -1.25B | -1.2B | -1.17B |
CapEx / Revenue % | 42.28% | 44.59% | 52.54% | 40.57% | 55.48% | 63.26% | 55.22% | 53.3% |
CapEx / D&A | 2.05x | 2.16x | 2.92x | 2.68x | 3.04x | 2.95x | 2.47x | 2.86x |
CapEx Coverage (OCF/CapEx) | 0.82x | 0.72x | 0.59x | 0.62x | 0.51x | 0.41x | 0.49x | 0.51x |
Cash from Investing | -673.9M | -733.8M | -952.26M | -950.35M | -1.09B | -1.17B | -1.22B | -1.19B |
Acquisitions | -38.25M | -23.25M | 0 | 0 | -26.25M | 104.39M | 0 | 0 |
Purchase of Investments | -513.87M | -607.59M | -477.67M | -564.91M | -593.24M | -756.8M | -714.39M | -734.68M |
Sale of Investments | 494.53M | 591M | 459.87M | 526.45M | 574.2M | 707.34M | 693.28M | 713.25M |
Other Investing | -37K | -14.93M | 563K | 674K | 32.7M | 17.75M | -109K | -40K |
Cash from Financing | 172.45M | 292.19M | 357.56M | 386.04M | 537.1M | 684.35M | 642.52M | 587.01M |
Dividends Paid | -92.93M | -98.5M | -112.97M | -119.84M | -126.7M | -140.34M | -163.37M | -171.63M |
Dividend Payout Ratio % | 119.3% | 56.84% | 57.53% | 70.47% | 143.42% | 57.83% | 107.94% | - |
Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
Stock Issued | 943K | 283.23M | 0 | 0 | 198.18M | 98.6M | 842.74M | 946.43M |
Share Repurchases | -9.92M | -11.98M | -10.13M | -7.98M | -9.65M | -8.46M | -11.97M | -11.05M |
Other Financing | -12.55M | -17.45M | 44.96M | -33.94M | -2.72M | -26.32M | -100.06M | -14.13M |
Net Change in Cash | 1.71M▲ 0% | 44.09M▲ 2477.1% | -46.82M▼ 206.2% | 2.97M▲ 106.4% | -135K▼ 104.5% | 18.14M▲ 13538.5% | 9.87M▼ 45.6% | 3.42M▲ 0% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.48M |
Cash at Beginning | 2.12M | 3.83M | 47.93M | 1.1M | 4.08M | 3.94M | 22.09M | 18.26M |
Cash at End | 3.83M | 47.93M | 1.1M | 4.08M | 3.94M | 22.09M | 31.95M | 5.62M |
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% | -569.59M▲ 0% |
FCF Growth % | - | -70.92% | -100.25% | 10.82% | -51.95% | -40.84% | 17.25% | 23.44% |
FCF Margin % | -7.76% | -12.69% | -21.75% | -15.35% | -27.05% | -37.48% | -28.23% | -26.04% |
FCF / Net Income % | -145.22% | -111.55% | -197.16% | -203.03% | -593.85% | -304.46% | -403.95% | -388.26% |
TXNM Key Ratios
TXNM Energy, Inc. (TXNM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 8.95% | 9.02% | 7.57% | 3.79% | 9.7% | 5.05% | 4.31% |
EBITDA Margin | 39.47% | 35.37% | 32.7% | 33.88% | 44.92% | 40.03% | 40.33% |
Net Debt / EBITDA | 5.67x | 6.14x | 5.97x | 7.59x | 6.58x | 0.00x | 0.69x |
Interest Coverage | 2.84x | 3.55x | 2.67x | 1.44x | 2.22x | 1.54x | - |
CapEx / Revenue | 44.59% | 52.54% | 40.57% | 55.48% | 63.26% | 55.22% | 53.3% |
Dividend Payout Ratio | 56.84% | 57.53% | 70.47% | 143.42% | 57.83% | 107.94% | 116.99% |
Debt / Equity | 1.63x | 1.73x | 1.95x | 2.07x | 2.25x | 0.00x | 0.17x |
EPS Growth | 123.17% | 5.58% | -13.22% | -48.22% | 161.76% | -39.33% | -38.55% |
Related:TXNM Dividend History·TXNM Revenue History·TXNM Price History·TXNM P/E History·TXNM Financial Ratios·TXNM Institutional Holders
TXNM SEC Filings & Documents
TXNM Energy, Inc. (TXNM) SEC filings — annual & quarterly reports (10-K, 10-Q)
TXNM Frequently Asked Questions
TXNM Energy, Inc. (TXNM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
TXNM Energy, Inc. (TXNM) reported $2.19B in revenue for fiscal year 2025. This represents a 50% 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 $146.7M 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 3.07%. 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 $569.6M 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.