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Txnm Energy Inc key statistics and ratios

In fiscal 2025, Txnm Energy Inc had return on equity of 5.1%, an operating margin of 20.4%, debt equal to 164.5% of equity and a current ratio of 0.55. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin————39.8%36.5%32.9%33.8%———
Operating margin20.9%21.8%16.4%9.9%18.7%17.3%17.5%11.9%23.0%20.4%24.4%
Net margin8.6%5.5%6.0%5.3%11.3%11.0%7.5%4.5%12.3%7.0%9.9%
Free-cash-flow margin−14.1%1.6%−5.1%−7.8%−12.7%−21.8%−15.3%−27.1%−37.5%−28.2%−26.0%
Return on equity7.0%4.7%5.1%4.6%9.3%9.3%7.8%3.9%9.9%5.1%6.5%
Return on assets1.8%1.2%1.3%1.1%2.3%2.4%1.9%0.9%2.3%1.3%1.8%
Asset turnover0.210.220.210.210.200.210.250.200.180.190.19
Current ratio0.470.350.590.300.390.490.460.390.280.550.81
Debt to equity159.9%161.8%172.1%190.2%162.3%173.5%196.6%203.6%218.1%164.5%164.8%
Interest cover (operating income ÷ interest)2.2x2.5x1.9x1.2x2.5x3.2x3.1x1.2x2.0x1.6x2.0x
Effective tax rate32.4%57.7%7.1%−37.8%9.9%13.3%12.4%−18.1%7.7%5.7%10.4%
Capital spending as % of revenue44.0%34.6%34.9%42.3%44.6%52.5%40.6%55.5%63.3%55.2%52.3%
Free cash flow ÷ net income−164.1%28.8%−85.2%−146.2%−111.9%−197.7%−203.7%−597.4%−305.1%−404.0%−263.6%
Dividends ÷ net income60.4%97.4%99.2%120.1%57.0%57.7%70.7%144.3%58.0%107.9%79.3%
Dividends and buybacks ÷ free cash flow—398.8%—————————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 7 checks passed · September 30, 2026
What it owns · $12.8bn
Short-term assets $759mLonger-term assets $12.1bn
What it owes, and who funded it · $12.8bn
Short-term liabilities $941mLonger-term liabilities $8.2bnShareholders' equity $3.6bn
  • Short-term assets cover short-term liabilities $759m of assets due within a year against $941m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $759m short-term assets against $8.2bn of longer-dated liabilities.
  • More cash than debt $29m of cash against $5.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 158% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 171% to 158% over five years.
  • A year's operating cash flow covers at least 20% of debt $610m of operating cash flow against $5.8bn of debt.
  • Operating profit covers interest at least five times over Operating income of $565m against $280m of interest.

From Txnm Energy Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

24 /100

Weak moat

How hard Txnm Energy's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.7% of total assets over 10 years.

  • Durability 9 / 20

    Operating margin has been a median 17.9%; its worst year was 4.5%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 9 years, at a median -22.1% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 31.1% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AQN vs TXNMHE vs TXNMOGE vs TXNMOTTR vs TXNM

More: Electric Utilities stocks compared, Utilities sector, rankings of US companies

Figures from Txnm Energy Inc's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Txnm Energy Inc.