TXNM Financials Txnm Energy Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 47 d ago Overview →

Growth & profitability

Revenue has grown 7.2% per year over the past 5 years.
Net income has grown slower than revenue (-5.4% vs 7.2% per year).
Operating margin has expanded, at 20.6% in the latest year.

Financial health

Total debt ($5.6B) exceeds cash ($18M); net debt is $5.6B.
Total debt has grown faster than revenue (11.0% vs 7.2% per year).
Operating income covered interest expense 1.6× in the latest year.
Total debt is 6.1× EBITDA.

Shareholder returns

Dividends have been paid for 9 consecutive years, consuming 96.2% of earnings.
The dividend has grown 10.6% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2.1B	$170M	0.0%	20.6%	5.0%	1.4%	-$611M	$5.6B	$18M
2024	$2.0B	$259M	0.0%	23.1%	10.2%	2.3%	-$739M	$5.5B	$4M
2023	$1.9B	$107M	34.2%	12.1%	4.5%	1.0%	-$525M	$4.8B	$2M
2022	$2.3B	$185M	32.9%	17.5%	8.4%	2.0%	-$345M	$4.3B	$4M
2021	$1.7B	$212M	37.2%	17.7%	9.8%	2.4%	-$387M	$3.8B	$1M
2020	$1.5B	—	40.1%	18.9%	0.0%	0.0%	-$193M	$3.3B	$48M
2019	$1.4B	—	0.0%	10.5%	0.0%	0.0%	-$113M	$3.2B	$4M
2018	$1.4B	—	0.0%	17.4%	0.0%	0.0%	-$73M	$2.9B	$2M
2017	$1.3B	$80M	0.0%	23.8%	4.7%	1.2%	$23M	$2.7B	$4M
2016	$1.3B	$117M	0.0%	22.3%	7.0%	1.8%	-$192M	$2.7B	$6M
2015	—	$16M	—	—	0.9%	0.3%	-$172M	$2.3B	$54M
2014	—	$116M	—	—	6.8%	2.0%	-$46M	$2.1B	$28M
2013	—	$101M	—	—	6.0%	1.9%	$39M	$1.9B	$3M
2012	—	$106M	—	—	6.6%	2.0%	-$28M	$1.8B	$9M
2011	—	$176M	—	—	11.2%	3.4%	-$35M	$1.8B	$15M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Mar '26	$488M	$8M	0.0%	15.8%	0.2%	0.1%	-$160M	$5.7B	$6M
Dec '25	$506M	-$5M	0.0%	18.5%	-0.2%	-0.0%	-$152M	$5.6B	$18M
Sep '25	$656M	$136M	0.0%	30.9%	4.0%	1.1%	$5M	$5.4B	$32M
Jun '25	$494M	$26M	0.0%	14.7%	0.8%	0.2%	-$263M	$5.5B	$22M
Mar '25	$480M	$13M	0.0%	15.0%	0.5%	0.1%	-$201M	$5.8B	$6M
Dec '24	$481M	$20M	0.0%	15.8%	0.8%	0.2%	-$183M	$5.5B	$4M
Sep '24	$574M	$136M	51.8%	33.3%	5.5%	1.3%	-$144M	$5.4B	$7M
Jun '24	$473M	$52M	41.9%	22.3%	2.2%	0.5%	-$216M	$5.2B	$3M
Mar '24	$431M	$50M	40.8%	18.7%	2.1%	0.5%	-$196M	$4.9B	$3M
Dec '23	$412M	-$46M	26.8%	-11.3%	-1.9%	-0.4%	-$129M	$4.8B	$2M
Sep '23	$510M	$43M	34.7%	17.0%	1.9%	0.4%	-$101M	$4.8B	$8M
Jun '23	$462M	$49M	39.3%	20.0%	2.2%	0.5%	-$162M	$4.7B	$8M
Mar '23	$531M	$60M	35.2%	18.7%	2.7%	0.6%	-$133M	$4.5B	$4M
Dec '22	$580M	$20M	25.3%	9.8%	0.9%	0.2%	-$70M	$4.3B	$4M
Sep '22	$741M	$127M	36.3%	24.7%	5.8%	1.4%	-$18M	$4.1B	$6M
Jun '22	$488M	$19M	34.9%	17.7%	0.9%	0.2%	-$165M	$4.1B	$3M
Mar '22	$442M	$19M	34.9%	15.4%	0.9%	0.2%	-$93M	$3.9B	$4M
Dec '21	$547M	$15M	23.4%	7.1%	0.7%	0.2%	-$299M	$3.8B	$1M
Sep '21	$482M	$118M	49.2%	31.5%	5.5%	1.4%	$73M	$3.5B	$49M
Jun '21	$369M	$58M	0.0%	20.1%	2.8%	0.7%	-$75M	$3.5B	—

Valuation over time

How the market has priced TXNM against its own fundamentals since 2024-08 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 42.4× (Aug '24) to 37.9× (Sep '26).
The price-to-sales ratio has risen from 2.4× (Aug '24) to 3.0× (Sep '26).
The dividend yield has fallen from 2.8% (Aug '24) to 2.5% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is TXNM growing its revenue and profit?

Over the past 5 years, Txnm Energy Inc's revenue has grown 7.2% per year, and net income declined 5.4% per year. These are computed facts, not advice.

How much debt does TXNM have?

As of FY2025, Txnm Energy Inc reported $5.6B of total debt against $18M of cash; operating income covered interest expense 1.6×.

What is TXNM's profit margin?

In FY2025, gross margin was —, operating margin 20.6%, and net margin 7.9%.

What is TXNM's P/E ratio?

As of Sep '26, Txnm Energy Inc traded at a price-to-earnings ratio of about 37.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.