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Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states. This segment distributes natural gas to approximately 3.4 million residential, commercial, public authority, and industrial customers; and owned 76,000 miles of underground distribution and transmission mains. The Pipeline and Storage segment engages in the pipeline and storage operations. This segment transports natural gas for third parties and manages five underground storage facilities in Texas; provides ancillary services customary to the pipeline industry, including parking arrangements, lending, and inventory sales; and owned 5,700 miles of gas transmission lines. Atmos Energy Corporation was founded in 1906 and is based in Dallas, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.7B | $2.4B | $1.2B | $-1.5B | 8.8% | 12.9% | 14.9% |
| 2024 | $4.2B | $2.1B | $1.0B | $-1.2B | 8.6% | -2.6% | 17.7% |
| 2023 | $4.3B | $1.7B | $886M | $654M | 8.1% | 1.8% | 14.4% |
| 2022 | $4.2B | $1.5B | $774M | $-1.5B | 8.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 4,201.66 | 4,275.36 | 4,165.19 | 4,702.76 |
| Cost Of Revenue | 2,392.82 | 2,217.08 | 1,752.83 | 1,969 |
| Gross Profit | 1,808.84 | 2,058.28 | 2,412.36 | 2,733.76 |
| Operating Expense | 887.86 | 991.13 | 1,056.99 | 1,173.79 |
| Operating Income | 920.98 | 1,067.15 | 1,355.36 | 1,559.97 |
| EBITDA | 1,490.37 | 1,741.25 | 2,096.38 | 2,384.46 |
| EBIT | 954.72 | 1,136.92 | 1,426.41 | 1,649.71 |
| Pretax Income | 851.91 | 999.64 | 1,235.78 | 1,478.03 |
| Tax Provision | 77.51 | 113.78 | 192.88 | 279.28 |
| Net Income | 774.40 | 885.86 | 1,042.90 | 1,198.75 |
| Net Income Common Stockholders | 773.89 | 885.32 | 1,042.34 | 1,198.27 |
| Total Expenses | 3,280.68 | 3,208.21 | 2,809.82 | 3,142.78 |
| Interest Expense | 102.81 | 137.28 | 190.63 | 171.68 |
| Interest Income | 2.78 | 7.21 | 22.89 | 29.94 |
| Normalized EBITDA | 1,452.61 | 1,675.82 | 2,034.58 | 2,308.86 |
| Normalized Income | 740.07 | 827.90 | 990.74 | 1,137.44 |
| Market Cap | 30,680.65 | 30,680.65 | 30,680.65 | 30,680.65 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Atmos Energy Corporationthis co. | ATO | $29.5B | 25.59↑ premium | 2.26 | 8.8% | 16.68 |
| DTE Energy Company | DTE | $30.5B | 20.90 | 2.48 | 11.9% | 12.74 |
| Ameren Corporation | AEE | $30.1B | 21.11 | 2.29 | 10.9% | 12.51 |
| PPL Corporation | PPL | $28.6B | 24.68 | 1.96 | 7.9% | 12.83 |
| FirstEnergy Corp. | FE | $28.5B | 28.02 |
| 2.28 |
| 8.2% |
| 12.94 |
| Edison International | EIX | $28.0B | 5.64 | 1.55 | 27.5% | 6.31 |
| CenterPoint Energy, Inc. | CNP | $27.7B | 26.41 | 2.49 | 9.4% | 13.78 |
| American Water Works Company, Inc. | AWK | $25.9B | 23.28 | 2.39 | 10.3% | 14.22 |
| Eversource Energy | ES | $25.5B | 15.24 | 1.59 | 10.4% | 10.16 |
| Peer Median | - | 22.19 | 2.29 | 10.4% | 12.78 | |