# TXNM Energy Inc. (TXNM) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Utilities / Electric Utilities. Price $58.00, market value $6.0 billion.

## Valuation
- **P/E (trailing): 31.7×** (5-yr avg 26.7×, 3-yr avg 31.4×). TXNM Energy Inc. trades at 31.7× trailing earnings, close to its own five-year average of 26.7×. The Utilities median in the September 2026 study was 21.2×. Forward P/E is 17.8×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.7×**. Each dollar of revenue is priced at 2.7×.
- **Price / book: 1.8×**. The shares trade at 1.8× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 11.0×**. Enterprise value is 11.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -8.4%** (5-yr avg -12.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 3.2%**. The inverse of the P/E: 3.2% of the price is earned each year.

## Profitability
- **Operating margin: 22.6%**. 22.6% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 7.9%**. 7.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 5.0%**. 5.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 4.5%**. Return on all capital, debt included, is 4.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.7%**. Each dollar of assets produces 1.7% of profit.

## Growth
- **Revenue growth (1 yr): 9.0%** (3-yr -1.7%/yr, 5-yr 7.2%/yr). Revenue grew 9.0% over the last year, against 7.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -44.6%** (3-yr -9.1%/yr, 5-yr -7.2%/yr). Earnings per share fell 44.6%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.59**. Debt is 1.59 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 5.2×**. It would take 5.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.11**. A Z-score of 1.11 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 7.90%** ($1.68 per share, trailing). TXNM Energy Inc. yields 7.90%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 96%**. 96% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 5.8%/yr** (1-yr 5.2%). The dividend has grown 5.8% a year over five years.

## Price and momentum
- **Total return (1 yr): 4.3%** (YTD -0.1%, 3-mo -2.2%). The shares are up 4.3% over twelve months including dividends.
- **From 52-week high: -2.6%** (4.2% above the low). Trading within 5% of its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 0.05** (volatility 5%). Beta of 0.05 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TXNM · Page: https://foliofundamentals.com/stocks/txnm

Not investment advice.