Atmos Energy Corp (ATO)

Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states. This segment distributes natural gas to approximately 3.4 million residential, commercial, public authority, and industrial customers; and owned 76,000 miles of underground distribution and transmission mains. The Pipeline and Storage segment engages in the pipeline and storage operations. This segment transports natural gas for third parties and manages five underground storage facilities in Texas; provides ancillary services customary to the pipeline industry, including parking arrangements, lending, and inventory sales; and owned 5,700 miles of gas transmission lines. Atmos Energy Corporation was founded in 1906 and is based in Dallas, Texas.

Symbol: ATO
Exchange: NYSE
Sector: Utilities
Industry: Utilities - Regulated Gas
Market cap: $26.56B
52 week range: 154.72 - 192.51

Valuation

Share price: $157.17 (close of 2026-10-02)
P/E (TTM): 18.53x
Price to book: 1.74x
Price to free cash flow: -13.15x
Enterprise value: $36.36B
Book value per share: $90.29

Price performance

Period	Change
1 day	+0.51%
5 days	-0.03%
1 month	-6.27%
3 months	-11.14%
6 months	-16.83%
Year to date	-6.24%
1 year	-6.92%
3 years	+52.95%
5 years	+77.03%
10 years	+111.05%
All time	+2716.67%

Members of Congress who disclosed ATO trades

John Boozman · Jared Moskowitz · Rick Allen

Super investors holding ATO

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity: 8.84%
Return on invested capital: 5.65%
Return on assets: 4.24%
Return on capital employed: 5.80%
Gross margin: 33.17%
Net margin: 25.49%
EBITDA margin: 48.80%
Revenue growth: 12.91%
Net income growth: 14.94%
Free cash flow growth: -25.64%

Cash flow and balance sheet

Free cash flow yield (TTM): -7.61%
Current ratio: 0.81x
Net debt to EBITDA: 3.67x

Latest reported year

Period end: 2025-09-30
Fiscal year: 2025
Revenue: $4.70B
Cost of revenue: $3.14B
Gross profit: $1.56B
EBITDA: $2.29B
Net income: $1.20B
Earnings per share: $7.54
Shares outstanding: 158.94M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-09-30	$4.70B	$1.56B	$1.20B	$7.54
2024-09-30	$4.17B	$1.36B	$1.04B	$6.83
2023-09-30	$4.28B	$2.82B	$885.86M	$6.10
2022-09-30	$4.20B	$2.52B	$774.40M	$5.61
2021-09-30	$3.41B	$2.37B	$665.56M	$5.12
2020-09-30	$2.82B	$2.16B	$601.44M	$4.89
2019-09-30	$2.90B	$2.04B	$511.41M	$4.36
2018-09-30	$3.12B	$1.95B	$603.06M	$5.43
2017-09-30	$2.76B	$735.63M	$396.42M	$3.73
2016-09-30	$2.45B	$1.71B	$350.10M	$3.38

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-09-30	33.17%	25.49%	8.84%	5.65%
2024-09-30	32.54%	25.04%	8.58%	5.82%
2023-09-30	66.03%	20.72%	8.15%	5.30%
2022-09-30	59.95%	18.43%	8.22%	4.76%
2021-09-30	69.69%	19.53%	8.42%	9.34%
2020-09-30	76.65%	21.32%	8.86%	9.67%
2019-09-30	70.40%	17.62%	8.89%	6.56%
2018-09-30	62.52%	19.36%	12.64%	9.20%
2017-09-30	26.66%	14.36%	10.17%	7.41%
2016-09-30	69.60%	14.26%	10.11%	7.87%

Cash and debt by year

Period end	Cash	Debt
2025-09-30	$202.69M	-
2024-09-30	$307.34M	-
2023-09-30	$15.40M	-
2022-09-30	$51.55M	-
2021-09-30	$116.72M	-
2020-09-30	$20.81M	-
2019-09-30	$24.55M	$3.53B
2018-09-30	$13.77M	$2.49B
2017-09-30	$26.41M	$3.07B
2016-09-30	$47.53M	$2.19B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-09-30	-$1.51B	$12.73M
2024-09-30	-$1.20B	$10.71M
2023-09-30	$653.77M	$10.18M
2022-09-30	-$1.47B	$10.74M
2021-09-30	-$3.05B	$11.26M
2020-09-30	-$897.68M	$9.58M
2019-09-30	-$724.71M	$11.12M
2018-09-30	-$342.93M	$12.86M
2017-09-30	-$270.00M	$14.06M
2016-09-30	-$291.96M	$14.76M

Dividend history

Most recent payment: 2026-08-24
Paid in the last twelve months: $4.00

Payment date	Dividend per share
2026-08-24	$1.00
2026-05-26	$1.00
2026-02-23	$1.00
2025-11-24	$1.00
2025-08-25	$0.87
2025-05-27	$0.87
2025-02-25	$0.87
2024-11-25	$0.87

Investor relations

Next earnings report

Next confirmed report: 2026-11-04
Consensus EPS estimate: $1.15

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-05	Jun/2026	$1.34
2026-05-06	Mar/2026	$3.37
2026-02-03	Dec/2025	$2.41
2025-11-05	Sep/2025	$1.01
2025-08-06	Jun/2025	$1.17
2025-05-07	Mar/2025	$2.92
2025-05-06	-	-
2025-02-04	Dec/2024	$2.20

Filings and sources

Company website: atmosenergy.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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