TXNM ENERGY INC TXNM
TXNM Energy, Inc. ("TXNM"), is a holding company with two regulated electric utilities, PNM and TNMP, serving approximately 842,000 residential, commercial, and industrial customers in New Mexico and Texas. TXNM was incorporated in the State of New Mexico in 2000.
TXNM's vision is to create a clean and bright energy future while fulfilling its purpose to work together with customers and communities to meet their energy needs. TXNM's core values of Safety, Caring and Integrity are the foundation for the Company's business objectives focused on safety excellence and customer satisfaction, including reliability. To reach these objectives, the Company is committed to:
•Preparing our workforce with the knowledge and skills to thrive in a customer-focused world
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.14B | $1.96B | $1.91B | $2.25B | $1.74B | $1.51B | $1.38B | $1.36B | $1.32B | $1.28B |
| Gross profit | — | — | $655.8M | $740.5M | $648.9M | $606.7M | — | — | — | — |
| SG&A | $274.5M | $247.1M | $227.9M | $227.1M | $230.3M | $216.3M | $189.2M | $188.5M | $177.8M | $184.8M |
| Operating income | $441.2M | $453.5M | $231.3M | $393.8M | $308.2M | $285.3M | $144.2M | $236.0M | $315.0M | $284.7M |
| Interest expense | $271.5M | $228.1M | $190.4M | $127.9M | $96.9M | $114.4M | $121.0M | $127.2M | $127.6M | $128.6M |
| Pre-tax income | $180.0M | $280.2M | $90.5M | $211.3M | $244.4M | $208.0M | $66.8M | $109.1M | $225.8M | $195.2M |
| Income tax | $10.2M | $21.5M | $16.4M | $26.1M | $32.6M | $20.6M | $25.3M | $7.8M | $130.3M | $63.3M |
| Net income | $169.8M | $258.7M | $106.9M | $185.2M | $211.8M | $187.3M | $92.1M | $101.3M | $95.4M | $131.9M |
| EPS, basic | 1.49 | 2.67 | 1.02 | 1.97 | 2.28 | 2.16 | 0.97 | 1.07 | 1.00 | 1.47 |
| EPS, diluted | 1.48 | 2.67 | 1.02 | 1.97 | 2.27 | 2.15 | 0.97 | 1.07 | 1.00 | 1.46 |
| Shares, diluted (wtd. avg.) | $102.4M | $90.6M | $86.4M | $86.2M | $86.1M | $80.3M | $80.0M | $80.0M | $80.1M | $80.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.3M | $4.5M | $3.9M | $4.1M | $1.1M | $47.9M | $3.8M | $2.1M | $4.0M | $5.5M |
| Receivables | $151.8M | $130.4M | $126.3M | $183.7M | $123.3M | $113.4M | $85.9M | $92.8M | $90.5M | $87.0M |
| Inventory | $181.3M | $166.9M | $98.0M | $66.7M | $65.1M | $66.4M | $77.9M | $71.8M | $66.5M | $73.0M |
| Total current assets | $564.7M | $498.8M | $475.5M | $411.0M | $324.6M | $377.5M | $294.0M | $302.5M | $294.4M | $378.0M |
| Goodwill | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M | $278.3M |
| Total assets | $12.06B | $11.21B | $10.25B | $9.26B | $8.67B | $7.94B | $7.30B | $6.87B | $6.65B | $6.47B |
| Accounts payable | $243.1M | $204.5M | $205.2M | $215.7M | $172.6M | $169.3M | $103.1M | $112.2M | $121.4M | $86.7M |
| Short-term debt | $302.5M | $611.6M | $280.2M | $184.8M | $179.3M | $575.5M | $490.3M | $0 | $256.9M | $273.3M |
| Total current liabilities | $1.02B | $1.78B | $1.23B | $890.4M | $664.2M | $977.7M | $967.5M | $512.5M | $835.6M | $805.1M |
| Long-term debt | $5.12B | $4.31B | $4.24B | $3.89B | $3.52B | $2.72B | $2.52B | $2.67B | $2.18B | $2.12B |
| Total liabilities | $8.60B | $8.62B | $7.84B | $7.00B | $6.43B | $5.82B | $5.55B | $5.10B | $4.87B | $4.71B |
| Retained earnings | $866.9M | $887.6M | $787.1M | $828.9M | $810.2M | $698.7M | $627.5M | $644.0M | $633.5M | $604.7M |
| Total equity | $3.40B | $2.54B | $2.40B | $2.24B | $2.22B | $2.11B | $1.74B | $1.75B | $1.76B | $1.74B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $584.5M | $508.2M | $551.2M | $567.3M | $547.9M | $485.7M | $503.2M | $428.2M | $523.5M | $408.3M |
| Depreciation and amortisation | $483.4M | $423.0M | $353.7M | $341.1M | $320.2M | $314.7M | $301.1M | $275.6M | $268.2M | $242.0M |
| Stock-based compensation | $8.7M | $9.5M | $7.2M | $7.8M | $9.4M | $8.1M | $6.4M | $7.1M | $6.2M | $5.6M |
| Capital expenditure | $1.20B | $1.25B | $1.08B | $912.6M | $935.0M | $679.0M | $616.3M | $501.2M | $500.5M | $600.1M |
| Investing cash flow | -$1.22B | -$1.17B | -$1.09B | -$950.3M | -$952.3M | -$733.8M | -$673.9M | -$475.7M | -$466.2M | -$699.4M |
| Financing cash flow | $642.5M | $684.4M | $537.1M | $386.0M | $357.6M | $292.2M | $172.4M | $45.6M | -$58.8M | $242.4M |
| Dividends paid | $163.4M | $140.3M | $126.7M | $119.8M | $113.0M | $98.5M | $92.9M | $85.0M | $77.8M | — |
| Buybacks | $12.0M | $8.5M | $9.6M | $8.0M | $10.1M | $12.0M | $9.9M | $12.6M | $13.9M | $15.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001108426-26-000020.
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