RGC RESOURCES INC

Listed Company

RGCOCIK 0001069533NasdaqNon-AcceleratedSmaller ReportingNatural Gas Transmisison & DistributionVirginiaFY ends Sep 30

Period

FY 2025

Revenue

$95.33M

Net Income

$13.28M

Total Assets

$329.84M

Equity

$113.55M

Shares Out

10.39M

Op. Cash Flow

$28.95M

Business

RGC RESOURCES INC operates as a holding company for regulated natural gas distribution and related midstream investments. It provides distribution and sale of natural gas, transportation services, and certain non-regulated services, and operates an RNG facility, LNG storage and participates as an investor in interstate pipeline projects. The company’s key components include its regulated utility subsidiary Roanoke Gas and its Midstream investment vehicle. Roanoke Gas serves residential, commercial and industrial customers primarily in Roanoke and surrounding localities in Virginia through interstate pipelines, storage and local distribution facilities.

Summary from filing dated 2025-12-04

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
Revenues	95	85	97	84	75
Operations and maintenance	20	18	16	15	14
Taxes other than income taxes	3	3	2	2	2
Depreciation and amortization	11	11	10	9	8
Total operating expenses	77	68	80	69	60
OPERATING INCOME	18	17	18	15	15
Equity in earnings of unconsolidated affiliate	3	4	2	73,327	2
Other income, net	2	1	646,528	1	912,146
Interest expense	7	7	6	4	4
INCOME BEFORE INCOME TAXES	17	15	15	−43	13
INCOME TAX EXPENSE	4	4	3	−11	3
NET INCOME	13	12	11	−32	10
Basic (in dollars per share)	1.29	1.16	1.14	−3.48	1.22
Diluted (in dollars per share)	1.29	1.16	1.14	−3.48	1.22
Basic (in shares)	10	10	10	9	8
Diluted (in shares)	10	10	10	9	8

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
Cash and cash equivalents	2	894,185	2	5	2
Accounts receivable, net	5	4	4	5	5
Inventories	2	2	2	1	1
Gas in storage	8	8	11	17	8
Prepaid income taxes	2	2	3	3	3
Regulatory assets	3	5	3	2	6
Interest rate swaps	828,573	871,026	2	1	0
Other	1	1	612,957	967,496	1
Total current assets	23	25	27	36	25
In service	367	346	318	291	272
Accumulated depreciation and amortization	−100	−92	−86	−80	−76
In service, net	267	253	233	211	196
Construction work in progress	8	9	15	19	15
Utility property, net	275	262	248	230	212
Regulatory assets	3	4	5	5	7
Investment in unconsolidated affiliates	21	21	17	14	65
Benefit plan assets	6	5	2	749,341	1
Deferred Income Tax Assets, Net	617,390	771,746	1	1	0
Interest rate swaps	421,511	1	3	4	0
Other	593,227	703,394	624,095	293,552	418,937
Total other non-current assets	32	34	29	25	73
TOTAL ASSETS	330	321	304	290	310
Current maturities of long-term debt	3	800,000	11	1	7
Line-of-credit	0	11	4	0	—
Dividends payable	2	2	2	2	2
Accounts payable	7	5	6	9	8
Customer credit balances	2	2	2	1	2
Customer deposits	2	1	1	1	2
Accrued expenses	5	5	5	4	4
Regulatory liabilities	2	834,278	2	3	329,959
Other	25,600	25,729	30,281	0	—
Total current liabilities	23	29	33	22	26
Notes payable	134	137	126	136	116
Line-of-credit	12	0	—	0	18
Unamortized debt issuance costs	−405,794	−282,092	−255,272	−275,911	−267,670
Long-term debt, net	146	137	126	136	133
Asset retirement obligations	12	11	11	10	8
Regulatory cost of retirement obligations	16	14	13	12	14
Benefit plan liabilities	201,194	113,600	47,674	337,535	949,851
Deferred Income Tax Liabilities, Net	2	2	2	3	15
Regulatory liabilities	17	19	18	13	13
Other	319,573	308,439	323,168	0	51
Total deferred credits and other non-current liabilities	48	47	44	39	—
COMMITMENTS AND CONTINGENCIES (Note 14)	—	—	—	—	—
Common stock, $5 par value; authorized 20,000,000 shares; issued and outstanding 10,338,308 and 10,249,899 shares in 2025 and 2024, respectively	52	51	50	49	42
Preferred stock, no par; authorized 5,000,000 shares; no shares issued and outstanding in 2025 and 2024	0	0	0	0	0
Capital in excess of par value	49	48	44	41	20
Retained earnings	12	8	4	544,158	40
Accumulated other comprehensive income	261,732	1	2	2	−2
Total stockholders equity	114	108	101	93	100
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	330	321	304	290	310

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	11	11	10	9	9
Cost of retirement of utility property	−512,872	−576,771	−824,637	−630,262	−545,443
Stock-based compensation	673,057	711,924	21,560	—	—
Distributions from unconsolidated affiliate	4	0	—	—	—
Donated property	−762,240	−781,990	−311,473	—	—
Deferred income taxes	318,673	−121,781	38,241	−14	106,188
Other noncash items, net	371,170	516,836	244,207	317,169	−243,496
Accounts receivable and customer deposits, net	−293,609	−275,196	1	−646,362	−1
Inventories and gas in storage	175,219	3	5	−9	−2
Regulatory and other assets	3	−3	−891,152	4	−6
Regulatory liabilities	−405,105	−1	88,368	3	2
Other	1	736,041	−91,522	—	—
Net cash provided by operating activities	29	17	24	16	12
Additions to utility property	−21	−22	−25	−25	−20
Investment in unconsolidated affiliates	−76,385	−18,258	−2	−5	−6
Proceeds from disposal of utility property	72,910	79,032	37,940	105,985	147,090
Net cash used in investing activities	−21	−22	−27	−31	−26
Borrowings under line-of-credit	49	45	33	37	47
Repayments under line-of-credit	−48	−39	−29	−54	−39
Proceeds from issuance of unsecured notes	18	11	1	39	8
Retirement of notes payable	−18	−10	−1	−25	0
Debt issuance expenses	−184,300	−101,206	−33,722	−58,201	−21,545
Proceeds from issuance of stock	−2	−5	−4	−29	−5
Cash dividends paid	−8	−8	−8	−7	−6
Net cash provided by (used in) financing activities	−7	4	218,935	18	16
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1	−618,246	−3	3	1
Interest	6	6	5	4	4
Income taxes	4	3	2	2	3
Accrued capital expenditures	1	1	1	—	—
Proceeds and retirement of borrowings with the same financial institution	39	0	—	—	—

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