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Mar 31, 2026·SEC
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Mar 3, 2026·SEC
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Mar 3, 2026·SEC
TXNM Energy, Inc.(TXNM)Earnings, Financials & Key Ratios
TXNM•NYSE•Utilities
$56.57
34.9× P/E·Price updated Jul 7, 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 Price & Volume
TXNM Energy, Inc. (TXNM) stock price & volume — 10-year historical chart
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Capital Intensity Pressures Earnings Amid Regulatory Lag
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Regulatory lag and financing
Key Thesis Takeaways
- TXNM Energy faces a challenging transition period as aggressive infrastructure spending, evidenced by quarterly CAPEX frequently exceeding $300 million, continues to outpace internal cash generation.
- The company's reliance on external financing and equity issuance to fund its grid modernization strategy creates significant earnings volatility, as highlighted by the 58.1% year-over-year EPS decline in 2026Q1.
- Investors should monitor the company's ability to secure timely rate case settlements, as current regulatory lag appears to be suppressing operating margins and limiting the conversion of capital investment into sustainable shareholder returns.
Verdict Logic
the company's inability to generate consistent free cash flow, evidenced by a negative $159.5 million FCF in 2026Q1, creates substantial risk for dividend sustainability and long-term equity value.
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 →
Peers Comparison
Key metrics vs top competitors for TXNM Energy, Inc. (TXNM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $56.57 | $6.26B | 34.92 | 9.86% | 6.99% | 5.05% | 3.1% | |
| $108.61 | $13.16B | 21.51 | 4.2% | 11.99% | 9.27% | — | |
| $70.75 | $4.35B | 24.06 | 6.38% | 10.21% | 5.8% | — | |
| $41.24 | $3.41B | 17.33 | 1.34% | 10.75% | 7.65% | — | |
| $90.85 | $3.81B | 13.87 | -1.99% | 21.34% | 15.21% | — | |
| $151.64 | $8.4B | 25.70 | -0.75% | 18.61% | 9.4% | — |
Compare TXNM vs Peers
TXNM Energy, Inc. (TXNM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TXNM SEC Filings & Documents
TXNM Energy, Inc. (TXNM) SEC filings — annual & quarterly reports (10-K, 10-Q)
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TXNM Frequently Asked Questions
TXNM Energy, Inc. (TXNM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is TXNM Energy, Inc.'s revenue?
TXNM Energy, Inc. (TXNM) reported $2.19B in revenue for fiscal year 2025. This represents a 50% increase from $1.46B in 2019.
How fast is TXNM Energy, Inc. growing?
TXNM Energy, Inc. (TXNM) grew revenue by 9.9% over the past year. This is steady growth.
Is TXNM profitable?
Yes, TXNM Energy, Inc. (TXNM) is profitable, generating $146.7M in net income for fiscal year 2025 (7.0% net margin).
Dividend & Returns
Does TXNM pay dividends?
Yes, TXNM Energy, Inc. (TXNM) pays a dividend with a yield of 3.10%. This makes it attractive for income-focused investors.
What is TXNM's return on equity?
TXNM Energy, Inc. (TXNM) has a return on equity (ROE) of 5.0%. This is below average, suggesting room for improvement.
What is TXNM Energy, Inc.'s free cash flow?
TXNM Energy, Inc. (TXNM) had negative free cash flow of $569.6M in fiscal year 2025, likely due to heavy capital investments.
Industry Metrics
Is TXNM's dividend sustainable?
TXNM Energy, Inc. (TXNM) has a dividend payout ratio of 108%. The high payout ratio may limit dividend growth.