ATMOS ENERGY CORP

Listed Company

ATOCIK 0000731802NYSELarge AcceleratedNatural Gas DistributionTexasFY ends Sep 30

Period

FY 2025

Revenue

$4.70B

Net Income

$1.20B

Total Assets

$28.25B

Equity

$13.56B

Shares Out

165.44M

Op. Cash Flow

$2.05B

Business

Atmos Energy Corp is a natural gas-only distributor that delivers regulated natural gas sales and transportation services to residential, commercial, public authority, and industrial customers. It offers natural gas distribution, pipeline transportation, underground storage, transmission services, asset management plans and related sales and transportation arrangements, including interruptible and peaking supply management. The company reports two primary operating segments: a distribution segment comprising regulated distribution divisions and a pipeline and storage segment centered on Atmos Pipeline–Texas and Louisiana transmission operations. It serves customers across eight states, primarily in the South, through municipal franchises and pipeline transportation agreements.

Summary from filing dated 2025-11-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Operating revenues	4,703	4,165	4,275	4,202	3,407
Purchased gas cost	1,066	934	1,452	1,683	—
Operation and maintenance expense	903	819	765	710	679
Depreciation and amortization expense	735	670	604	536	478
Taxes, other than income	439	387	387	352	313
Operating income	1,560	1,355	1,067	921	905
Other non-operating income	90	71	70	34	−2
Interest charges	172	191	137	103	—
Income before income taxes	1,478	1,236	1,000	852	819
Income tax expense	279	193	114	78	154
Net income	1,199	1,043	886	774	666
Basic net income per share (USD per share)	7.54	6.83	6.1	5.61	5.12
Diluted net income per share (USD per share)	7.46	6.83	6.1	5.6	5.12
Basic (in shares)	159	153	145	138	130
Diluted (in shares)	161	153	145	138	130
Net unrealized holding gains (losses) on available-for-sale securities, net of tax of $(3), $168 and $37	−4,000	582,000	126,000	−542,000	−191,000
Amortization and unrealized gains (losses) on interest rate agreements, net of tax of $1,103, $(15,432) and $43,148	9	−53	149	300	128
Total other comprehensive income (loss)	9	−53	149	299	127
Total comprehensive income	1,208	990	1,035	1,074	793

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Property, plant and equipment	28,029	24,784	21,958	19,402	17,259
Construction in progress	1,235	1,064	940	836	627
Total property, plant and equipment and construction in progress	29,264	25,848	22,898	20,238	17,885
Less accumulated depreciation and amortization	3,971	3,644	3,292	2,998	2,821
Net property, plant and equipment	25,293	22,204	19,607	17,240	15,064
Cash and cash equivalents	203	307	15	52	117
Restricted cash and cash equivalents	1	2	4	0	—
Cash and cash equivalents and restricted cash and cash equivalents	204	309	19	52	117
Accounts receivable, less allowance for uncollectible accounts of $45,259 in 2025 and $37,056 in 2024	376	366	329	364	343
Gas stored underground	172	170	246	358	178
Other current assets	302	288	292	2,274	2,201
Total current assets	1,053	1,132	886	3,048	2,839
Securitized intangible asset, less accumulated amortization of $18,473 in 2025 and $10,756 in 2024 (See Note 10)	75	83	92	0	—
Goodwill	731	731	731	731	731
Deferred charges and other assets	1,097	1,044	1,201	1,174	975
Total assets	28,250	25,194	22,517	22,193	19,609
Common stock, no par value (stated at $0.005 per share); 200,000,000 shares authorized; issued and outstanding: 2025 161,568,384 shares; 2024 155,258,845 shares	808,000	776,000	742,000	704,000	662,000
Additional paid-in capital	8,221	7,475	6,684	5,838	5,024
Accumulated other comprehensive income	475	466	519	369	70
Retained earnings	4,862	4,217	3,667	3,211	2,813
Shareholders equity	13,559	12,158	10,870	9,419	7,907
Long-term debt	8,907	7,784	6,554	5,761	4,930
Securitized long-term debt (See Note 10)	68	77	85	0	—
Total capitalization	22,534	20,018	17,509	15,180	12,837
Commitments and contingencies (See Note 14)	—	—	—	—	—
Accounts payable and accrued liabilities	507	445	336	496	423
Other current liabilities	836	751	763	720	687
Current maturities of long-term debt	12	2	2	2,201	2,400
Current maturities of securitized long-term debt (See Note 10)	9	8	10	0	—
Total current liabilities	1,363	1,206	1,353	3,603	3,510
Deferred income taxes	2,918	2,593	2,305	2,000	1,706
Regulatory excess deferred taxes (See Note 15)	117	177	253	385	549
Regulatory cost of removal obligation	532	508	497	488	469
Deferred credits and other liabilities	784	692	600	538	537
Total shareholders' equity and liabilities	28,250	25,194	22,517	22,193	19,609

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	735	670	604	536	478
Deferred income taxes	269	173	108	54	155
Stock-based compensation	13	11	10	11	11
Amortization of debt issuance costs	−15	−7	4	9	14
Equity component of AFUDC	−75	−58	−64	−46	−33
Other	11	2	−591,000	3	4
(Increase) decrease in accounts receivable	−1	−41	47	−34	−114
(Increase) decrease in gas stored underground	−2	76	112	−180	−66
Decrease in Winter Storm Uri current regulatory asset (see Note 10)	0	0	2,022	0	−2,004
(Increase) decrease in other current assets	20	17	−36	−66	−85
Increase in deferred charges and other assets	−211	−195	−173	13	137
Increase (decrease) in accounts payable and accrued liabilities	32	−5	−133	40	104
Increase (decrease) in other current liabilities	31	−10	31	−152	−166
Increase in deferred credits and other liabilities	46	59	42	15	−109
Net cash provided by operating activities	2,049	1,734	3,460	978	−1,084
Capital expenditures	−3,561	−2,937	−2,806	−2,444	−1,970
Purchases of debt and equity securities	−34	−20	−47	−28	−50
Proceeds from sale of debt and equity securities	7	6	25	5	15
Maturities of debt securities	23	12	13	28	29
Other, net	4	16	19	10	12
Net cash used in investing activities	−3,561	−2,923	−2,795	−2,430	−1,964
Net increase (decrease) in short-term debt	0	−242	57	185	0
Proceeds from issuance of long-term debt, net of premium/discount	1,143	1,240	797	799	2,797
Proceeds from issuance of securitized long-term debt by AEK	0	0	95	0	0
Net proceeds from equity offering	698	750	807	777	607
Issuance of common stock through stock purchase and employee retirement plans	15	15	15	15	16
Settlement of interest rate swaps	123	231	171	197	62
Proceeds from term loan	0	0	2,020	0	0
Repayment of term loan	0	0	−2,020	0	0
Repayment of long-term debt	0	0	−2,200	−200	0
Repayment of securitized long-term debt by AEK	−8	−10	0	0	—
Cash dividends paid	−554	−493	−430	−376	−324
Debt issuance costs	−10	−12	−8	−8	−14
Securitized debt issuance costs	0	0	−1	0	0
Other	−1	−1	0	−2	0
Net cash provided by (used in) financing activities	1,407	1,479	−697	1,387	3,144
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents	−105	290	−32	−65	96

Filings

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