TXNM Energy (TXNM) financial statements

Utilities · Utilities - Regulated Electric · Market cap $6.5B

TXNM Energy reported revenue of $2.2B in fiscal 2025, up 6.0% a year over 9 years.

Net income was $151M and the operating margin 20.4%, against 22.3% in 2016.

Free cash flow was -$611M, and the company returned $163M in dividends and $12M in net buybacks.

The diluted share count rose 28% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions.

-101232016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, from TXNM Energy's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue$1.3B$1.3B$1.4B$1.4B$1.5B$1.6B$2.2B$1.9B$2.0B$2.2B
Gross profit————$607M$649M$740M$656M——
Selling, general and admin$185M$178M$188M$189M$216M$230M$227M$228M$247M$274M
Operating income$285M$315M$236M$144M$285M$308M$394M$231M$453M$441M
Interest expense$129M$128M$127M$121M$114M$97M$128M$190M$228M$272M
Pre-tax income$195M$226M$109M$67M$208M$244M$211M$91M$280M$180M
Income tax$63M$130M$8M-$25M$21M$33M$26M-$16M$22M$10M
Net income$117M$80M$86M$77M$173M$196M$170M$88M$242M$151M
EPS (diluted)$1.46$1.00$1.07$0.97$2.15$2.27$1.97$1.02$2.67$1.48
Diluted shares80M80M80M80M80M86M86M86M91M102M
Gross margin————41.3%41.4%32.9%33.8%——
Operating margin22.3%23.8%17.4%10.5%19.4%19.6%17.5%11.9%23.0%20.4%
Net margin9.1%6.0%6.3%5.6%11.8%12.5%7.5%4.5%12.3%7.0%

Balance sheet

Fiscal years, from TXNM Energy's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments$6M$4M$2M$4M$48M$1M$4M$2M$4M$18M
Receivables$87M$90M$93M$86M$113M$123M$184M$126M$130M$152M
Inventory$73M$67M$72M$78M$66M$65M$67M$98M$167M$181M
Total current assets$378M$294M$303M$294M$377M$325M$411M$476M$499M$565M
Property, plant and equipment———$12M$24M$25M$27M$29M——
Goodwill$278M$278M$278M$278M$278M$278M$278M$278M$278M$278M
Total assets$6.5B$6.6B$6.9B$7.3B$7.9B$8.7B$9.3B$10.3B$11.2B$12.1B
Total current liabilities$805M$836M$512M$967M$978M$664M$890M$1.2B$1.8B$1.0B
Long-term debt$2.1B$2.2B$2.7B$2.5B$2.7B$3.5B$3.9B$4.2B$4.3B$5.1B
Total liabilities$4.7B$4.9B$5.1B$5.5B$5.8B$6.4B$7.0B$7.8B$8.6B$8.6B
Shareholders' equity$1.7B$1.7B$1.7B$1.7B$2.0B$2.2B$2.2B$2.3B$2.5B$3.4B
Net debt$2.4B$2.4B$2.7B$3.0B$3.2B$3.7B$4.1B$4.5B$4.9B$5.4B

Cash flow

Fiscal years, from TXNM Energy's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow$408M$523M$428M$503M$486M$548M$567M$551M$508M$584M
Capital spending$600M$500M$501M$616M$679M$935M$913M$1.1B$1.2B$1.2B
Free cash flow-$192M$23M-$73M-$113M-$193M-$387M-$345M-$525M-$739M-$611M
Stock-based compensation$6M$6M$7M$6M$8M$9M$8M$7M$9M$9M
Dividends paid—$78M$85M$93M$99M$113M$120M$127M$140M$163M
Share buybacks (net)-$15M-$14M-$13M-$10M-$12M-$10M-$8M-$10M-$8M-$12M
Net borrowing$386M$43M$284M$188M$290M$405M$378M$448M$413M$503M
Free cash flow margin-15.0%1.7%-5.4%-8.2%-13.2%-24.7%-15.3%-27.1%-37.5%-28.2%
Dividends per share—$0.97$1.06$1.16$1.23$1.31$1.39$1.47$1.55$1.60
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Questions

What was TXNM Energy's revenue in 2025?

$2.2B in fiscal 2025, from its 10-K filing.

How much free cash flow does TXNM Energy generate?

-$611M in fiscal 2025 (operating cash flow minus capital spending).

From TXNM Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.