Atmos Energy (ATO)

Utilities · Utilities - Regulated Gas · S&P 500
$159.21 -0.33% on the day Market cap $26.1B 52-week range $154.72 to $192.51 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

Atmos Energy's free cash flow was negative in fiscal 2025, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

C

Five factors scored 1 to 9 from ATO's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation6
Profitability7
Growth6
Financial health2
Cash efficiency0

Key numbers

P/E (trailing)19.2x
P/E (forward)19.5x
Price / free cash flow—
EV / EBITDA13.6x
Price / sales5.30x
Price / book1.79x
Revenue growth+4.8%
Operating margin37.0%
Net margin28.5%
Return on equity9.2%
Dividend yield2.3%
Debt / equity1.07x

Results from SEC filings

Fiscal years, from Atmos Energy's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue$3.4B$4.2B$4.3B$4.2B$4.7B
Net income$666M$774M$886M$1.0B$1.2B
Free cash flow-$3.1B-$1.5B$654M-$1.2B-$1.5B
EPS (diluted)$5.12$5.60$6.10$6.83$7.46
Operating margin26.6%21.9%25.0%32.5%33.2%

Where the revenue comes from

Revenue by segments, fiscal 2025.

Distribution$4.4B94%
Pipeline and Storage$280M6%

Superinvestors who own ATO

From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Cliff Asness
AQR Capital Management
Added $409M0.14%Q2 2026
Hersh Cohen
ClearBridge Investments
Added $44M0.04%Q2 2026
Joel Greenblatt
Gotham Asset Management
Added $25M0.06%Q2 2026

Insider buying

Open-market purchases by Atmos Energy's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

DateInsiderSharesPriceValue
Dec 2, 2025 Jared Moskowitz
0$170.13—
Dec 2, 2025 Jared Moskowitz
0$170.13—

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are Atmos Energy insiders buying the stock?

2 open-market insider purchases of ATO in the last 12 months, from SEC Form 4 filings.

Which superinvestors own Atmos Energy?

3 of the superinvestors Investingly tracks hold ATO in their latest 13F, including Cliff Asness, Hersh Cohen, Joel Greenblatt.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.