ATO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$177.91

Market Cap

$27.59B

P/E (TTM)

22.9

EPS (TTM)

$7.46

Revenue (TTM)

$4.70B

Div Yield

2.0%

ROE

9.0%

Debt/Equity

—

52W Range

$150 – $193

ATO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $4.70B

2016-09-30 → 2025-09-30

EPS $7.46

2016-09-30 → 2025-09-30

Free Cash Flow $-1.51B

2016-09-30 → 2025-09-30

Margins 25.5%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

ATO

Peer Median

P/E (TTM)

22.9

19.7

P/S (TTM)

5.9

2.8

P/B

2.0

1.5

Price / FCF

-18.2

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

ATO

Peer Median

Operating Margin

33.2%

—

Net Profit Margin

25.5%

15.1%

ROA

4.5%

3.8%

ROE

9.0%

9.2%

ROIC

9.3%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

ATO

Peer Median

Current Ratio

0.8

Quick Ratio

0.4

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

ATO

Peer Median

Revenue YoY

12.9%

—

Revenue CAGR 3Y

3.8%

—

Revenue CAGR 5Y

10.8%

—

EPS YoY

9.2%

—

Net Income YoY

14.9%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

ATO

Peer Median

EPS (Diluted)

$7.46

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

ATO

Peer Median

Payout Ratio

46.2%

—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield

2.0%

Payout Ratio

46.2%

5Y Div CAGR

—

Ex-date	Amount
Feb. 23, 2026	$1.0000
Nov. 24, 2025	$1.0000
Aug. 25, 2025	$0.8700
May 27, 2025	$0.8700
Feb. 25, 2025	$0.8700
Nov. 25, 2024	$0.8700
Aug. 26, 2024	$0.8050
May 24, 2024	$0.8050
Feb. 23, 2024	$0.8050
Nov. 24, 2023	$0.8050
Aug. 18, 2023	$0.7400
May 19, 2023	$0.7400
Feb. 16, 2023	$0.7400
Nov. 25, 2022	$0.7400
Aug. 19, 2022	$0.6800
May 20, 2022	$0.6800
Feb. 17, 2022	$0.6800
Nov. 26, 2021	$0.6800
Aug. 20, 2021	$0.6250
May 21, 2021	$0.6250

ATO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 20 analysts

Strong Buy 2 10.0%
Buy 4 20.0%
Hold 14 70.0%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

11 analysts · 2026-05-18

Median $192.00

Now $177.91

Low $170.00

High $206.00

Median target $192.00 +7.9%

Mean target $191.00 +7.4%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

0.04%

Period	EPS Actual	EPS Est	Surprise
March 31, 2026	$3.47	$3.43	0.04%
Dec. 31, 2025	$2.44	$2.45	-0.01%
Sept. 30, 2025	$1.07	$1.01	0.06%
June 30, 2025	$1.16	$1.16	0.00%
March 31, 2025	$3.03	$2.90	0.13%

Peer Comparison Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
ATO	$27.59B	22.9	12.9%	25.5%	9.0%	—
NFG	$8.35B	16.3	17.1%	22.8%	17.4%	—
UGI	$7.13B	10.8	1.1%	9.3%	14.5%	—
SWX	$5.78B	13.2	9.6%	—	11.2%	—
NJR	$4.84B	14.5	9.9%	24.8%	13.8%	—
OGS	$4.84B	17.7	—	—	8.0%	—
SR	—	—	—	—	—	—
MDU	—	21.0	6.7%	10.2%	6.9%	—
CPK	—	20.9	18.1%	15.1%	9.1%	—
NWN	$1.94B	16.9	11.8%	8.8%	7.9%	—
SPH	—	11.5	7.9%	7.4%	—	—

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 15

Annual Income Statement data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue	$4.70B	$4.17B	$4.28B	$4.20B	$3.41B	$2.82B	$2.90B	$3.12B	$2.76B	$2.45B
Cost of Revenue	·	·	$1.45B	$1.68B	$1.03B	$659M	$859M	$1.17B	·	·
Gross Profit	·	·	·	·	·	·	·	·	·	$1.74B
Operating Expenses	·	·	·	·	·	·	·	·	·	$1.08B
Operating Income	$1.56B	$1.36B	$1.07B	$921M	$905M	$824M	$746M	$728M	$736M	$657M
Interest Expense	·	·	$137M	$103M	$84M	$84M	$103M	$107M	$120M	$115M
Other Non-op	$90M	$71M	$70M	$34M	$-2M	$7M	$7M	$-10M	$-11M	$-234.0K
Pretax Income	$1.48B	$1.24B	$1000M	$852M	$819M	$747M	$650M	$611M	$604M	$542M
Income Tax	$279M	$193M	$114M	$78M	$154M	$145M	$139M	$8M	$221M	$197M
Net Income	$1.20B	$1.04B	$886M	$774M	$666M	$601M	$511M	$603M	$396M	$350M
EPS (Basic)	$7.54	$6.83	$6.10	$5.61	$5.12	$4.89	$4.36	$5.43	$3.73	$3.38
EPS (Diluted)	$7.46	$6.83	$6.10	$5.60	$5.12	$4.89	$4.35	$5.43	$3.73	$3.38
Shares (Basic)	158,943,000	152,508,000	145,121,000	137,830,000	129,779,000	122,788,000	117,200,000	111,012,000	106,100,000	103,524,000
Shares (Diluted)	160,573,000	152,666,000	145,166,000	138,096,000	129,834,000	122,872,000	117,461,000	111,012,000	106,100,000	103,524,000
EBITDA	$2.29B	$2.03B	$1.67B	$1.46B	$1.38B	$1.25B	$1.14B	$1.08B	$1.05B	$668M

Balance Sheet 23

Annual Balance Sheet data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Cash & Equivalents	$203M	$307M	$15M	$52M	$117M	$21M	$25M	$14M	$26M	$48M
Receivables	$376M	$366M	$329M	$364M	$343M	$231M	$231M	$253M	$222M	$216M
Prepaid Expense	$80M	$75M	$58M	$59M	$49M	$40M	$39M	$33M	$32M	$21M
Other Current Assets	$302M	$288M	$292M	$2.27B	$2.20B	$108M	$73M	$46M	$106M	$88M
Current Assets	$1.05B	$1.13B	$886M	$3.05B	$2.84B	$471M	$458M	$479M	$540M	$682M
Goodwill	$731M	$731M	$731M	$731M	$731M	$731M	$731M	$730M	$730M	$727M
Intangibles	$75M	$83M	$92M	$0	·	·	·	·	·	·
Other Non-current Assets	$1.10B	$1.04B	$1.20B	$1.17B	$975M	$801M	$391M	$294M	$221M	$305M
Total Assets	$28.25B	$25.19B	$22.52B	$22.19B	$19.61B	$15.36B	$13.37B	$11.87B	$10.75B	$10.01B
Accounts Payable	$507M	$445M	$336M	$496M	$423M	$236M	$265M	$217M	$233M	$196M
Short-term Debt	·	$0	$242M	$185M	$0	$0	$465M	$576M	$448M	$830M
Current Liabilities	$1.36B	$1.21B	$1.35B	$3.60B	$3.51B	$782M	$1.21B	$1.92B	$1.01B	$1.79B
Capital Leases	$263M	$224M	$194M	$184M	$195M	$201M	·	·	·	·
Deferred Tax	$2.92B	$2.59B	$2.30B	$2.00B	$1.71B	$1.46B	$1.30B	$1.15B	$1.88B	$1.60B
Other Non-current Liabilities	$784M	$692M	$600M	$538M	$537M	$642M	$400M	$158M	$176M	$245M
Long-term Debt	·	·	·	·	·	·	$3.53B	$3.07B	$3.07B	$2.44B
Total Debt	·	$0	$242M	$185M	·	$0	$3.99B	$3.64B	$3.51B	$3.27B
Common Stock	$808.0K	$776.0K	$742.0K	$704.0K	$662.0K	$629.0K	$597.0K	$556.0K	$531.0K	$520.0K
Retained Earnings	$4.86B	$4.22B	$3.67B	$3.21B	$2.81B	$2.47B	$2.15B	$1.88B	$1.47B	$1.26B
AOCI	$475M	$466M	$519M	$369M	$70M	$-58M	$-115M	$-84M	$-105M	$-188M
Stockholders' Equity	$13.56B	$12.16B	$10.87B	$9.42B	$7.91B	$6.79B	$5.75B	$4.77B	$3.90B	$3.46B
Liabilities + Equity	$28.25B	$25.19B	$22.52B	$22.19B	$19.61B	$15.36B	$13.37B	$11.87B	$10.75B	$10.01B
Shares Outstanding	161,568,384	155,258,845	148,492,783	140,896,598	132,419,754	125,882,477	119,338,925	111,273,683	106,104,634	103,930,560

Cash Flow 17

Annual Cash Flow data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
D&A	$735M	$670M	$604M	$536M	$478M	$430M	$391M	$361M	$320M	$293M
Stock-based Comp	$13M	$11M	$10M	$11M	$11M	$10M	$11M	$13M	$14M	$15M
Deferred Tax	$269M	$173M	$108M	$54M	$155M	$155M	$132M	$158M	$227M	$194M
Other Non-cash	$-165M	$-163M	$1.85B	$-397M	$-2.39B	$-158M	$-77M	$-11M	$-90M	·
Operating Cash Flow	$2.05B	$1.73B	$3.46B	$978M	$-1.08B	$1.04B	$969M	$1.12B	$867M	$795M
CapEx	$3.56B	$2.94B	$2.81B	$2.44B	$1.97B	$1.94B	$1.69B	$1.47B	$1.14B	$1.09B
Investing Cash Flow	$-3.56B	$-2.92B	$-2.80B	$-2.43B	$-1.96B	$-1.93B	$-1.68B	$-1.46B	$-1.06B	$-1.08B
Debt Issued	$1.14B	$1.24B	$797M	$799M	$2.80B	$999M	$1.05B	$0	$885M	$0
Net Debt Issued	$1.14B	$1.24B	$-1.40B	$599M	$2.80B	$999M	$470M	$0	$635M	$0
Stock Issued	$698M	$750M	$807M	$777M	$607M	$624M	$694M	$395M	$99M	$99M
Net Stock Activity	$698M	$750M	$807M	$777M	$607M	$624M	$694M	$395M	$99M	$99M
Dividends Paid	$554M	$493M	$430M	$376M	$324M	$282M	$246M	$215M	$192M	$175M
Financing Cash Flow	$1.41B	$1.48B	$-697M	$1.39B	$3.14B	$884M	$726M	$326M	$168M	$304M
Net Change in Cash	$-105M	$290M	$-32M	$-65M	$96M	$-4M	$11M	$-13M	$-21M	$19M
Taxes Paid	$4M	$15M	$15M	$16M	$8M	$-3M	$11M	$6M	$5M	$8M
Free Cash Flow	$-1.51B	$-1.20B	$654M	$-1.47B	$-3.05B	$-898M	$-725M	$-343M	$-270M	$-292M
Levered FCF	·	·	$532M	$-1.56B	$-3.12B	$-966M	$-806M	$-448M	$-346M	$-366M

Profitability 7

Annual Profitability data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Operating Margin	33.2%	32.5%	25.0%	21.9%	26.6%	29.2%	25.7%	23.2%	·	·
Net Margin	25.5%	25.0%	20.7%	18.4%	19.5%	21.3%	17.6%	19.4%	·	·
Pretax Margin	31.4%	29.7%	23.4%	20.3%	24.0%	26.5%	22.4%	19.6%	·	·
EBITDA Margin	48.8%	48.6%	39.1%	34.7%	40.6%	44.5%	39.2%	34.8%	·	·
ROA	4.5%	4.4%	4.0%	3.7%	3.8%	4.2%	4.0%	5.3%	3.8%	3.7%
ROE	9.0%	8.6%	8.2%	8.3%	8.5%	9.1%	9.0%	12.7%	10.8%	10.5%
ROIC	9.3%	9.4%	8.5%	8.7%	9.3%	9.8%	6.0%	8.5%	6.2%	6.3%

Liquidity & Solvency 5

Annual Liquidity & Solvency data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Current Ratio	0.8	0.9	0.7	0.8	0.8	0.6	0.4	0.2	0.5	0.4
Quick Ratio	0.4	0.6	0.3	0.1	0.1	0.3	0.2	0.1	0.2	0.2
Debt / Equity	·	0.0	0.0	0.0	·	0.0	0.7	0.8	0.9	0.9
LT Debt / Equity	·	·	·	·	·	·	0.6	0.5	0.8	0.6
Interest Coverage	·	·	7.8	9.0	10.8	9.8	7.2	6.8	6.1	5.8

Efficiency 2

Annual Efficiency data for ATO
Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Asset Turnover		0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	·	·
Receivables Turnover		12.7	12.0	12.4	11.9	11.9	12.2	12.0	13.1	·	·

Per Share 6

Annual Per Share data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Book Value / Share	$83.92	$78.31	$73.20	$66.85	$59.71	$53.95	$48.18	$42.87	$36.74	$33.32
Revenue / Share	$29.29	$27.28	$29.45	$30.43	$26.25	$22.96	$24.70	·	·	·
Cash Flow / Share	$12.76	$11.36	$23.83	$7.08	$-8.35	$8.45	$8.25	·	·	$7.68
Cash / Share	$1.25	$1.98	$0.10	$0.37	$0.88	$0.17	$0.21	$0.12	$0.25	$0.46
Dividend Paid / Share	$3	$3	$3	$3	$2	$2	$2	$2	$2	$2
EPS (TTM)	$7.46	$6.83	$6.10	$5.60	$5.12	$4.89	$4.35	$5.43	$3.73	$3.38

Growth Rates 10

Annual Growth Rates data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue YoY	12.9%	-2.6%	1.8%	23.3%	20.8%	·	·	·	·	·
Revenue CAGR 3Y	3.8%	6.9%	14.9%	·	·	·	·	·	·	·
Revenue CAGR 5Y	10.8%	·	·	·	·	·	·	·	·	·
EPS YoY	9.2%	12.0%	8.9%	9.4%	4.7%	·	·	·	·	·
EPS CAGR 3Y	10.0%	10.1%	7.6%	·	·	·	·	·	·	·
EPS CAGR 5Y	8.8%	·	·	·	·	·	·	·	·	·
Net Income YoY	14.9%	17.7%	14.4%	16.4%	10.7%	·	·	·	·	·
Net Income CAGR 3Y	15.7%	16.2%	13.8%	·	·	·	·	·	·	·
Net Income CAGR 5Y	14.8%	·	·	·	·	·	·	·	·	·
Dividend CAGR 5Y	14.4%	·	·	·	·	·	·	·	·	·

Valuation (TTM) 17

Annual Valuation (TTM) data for ATO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Revenue TTM	$4.70B	$4.17B	$4.28B	$4.20B	$3.41B	$2.82B	$2.90B	$3.12B	$2.76B	$2.45B
Net Income TTM	$1.20B	$1.04B	$886M	$774M	$666M	$601M	$511M	$603M	$396M	$350M
Market Cap	$27.59B	$21.54B	$15.73B	$14.35B	$11.68B	$12.03B	$13.59B	$10.45B	$8.90B	$7.74B
Enterprise Value	·	$21.23B	$15.96B	$14.48B	·	$12.01B	$17.56B	$14.08B	$12.38B	$10.96B
P/E	22.9	20.3	17.4	18.2	17.2	19.5	26.2	17.3	22.5	22.0
P/S	5.9	5.2	3.7	3.4	3.4	4.3	4.7	3.4	3.2	3.2
P/B	2.0	1.8	1.4	1.5	1.5	1.8	2.4	2.2	2.3	2.2
P / Tangible Book	2.2	1.9	1.6	1.7	1.6	2.0	·	·	·	·
P / Cash Flow	13.5	12.4	4.5	14.7	-10.8	11.6	14.0	9.3	10.3	9.7
P / FCF	-18.2	-17.9	24.1	-9.8	-3.8	-13.4	-18.8	-30.5	-32.9	-26.5
EV / EBITDA	·	10.5	9.5	9.9	·	9.6	15.4	13.0	11.8	16.4
EV / FCF	·	-17.6	24.4	-9.9	·	-13.4	-24.2	-41.1	-45.9	-37.5
EV / Revenue	·	5.1	3.7	3.4	·	4.3	6.1	4.5	4.5	4.5
Dividend Yield	2.0%	2.3%	2.7%	2.6%	2.8%	2.4%	1.8%	2.1%	2.2%	2.3%
Earnings Yield	4.4%	4.9%	5.8%	5.5%	5.8%	5.1%	3.8%	5.8%	4.5%	4.5%
Payout Ratio	46.2%	47.3%	48.6%	48.5%	48.7%	47.0%	48.0%	35.6%	48.4%	50.0%
Annual Payout	$554M	$493M	$430M	$376M	$324M	$282M	$246M	$215M	$192M	$175M

Income Statement 13

Quarterly Income Statement data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Revenue	$1.96B	$1.34B	$737M	$839M	$1.95B	$1.18B	$658M	$702M	$1.65B	$1.16B	$588M	$663M	$1.54B	$1.48B	$723M	$816M
Cost of Revenue	·	·	·	·	$779M	$234M	·	·	$624M	$339M	·	$45M	$666M	$738M	·	$249M
Operating Income	$765M	$515M	$219M	$252M	$629M	$459M	$185M	$220M	$551M	$399M	$154M	$169M	$423M	$321M	$105M	$155M
Interest Expense	·	·	·	·	·	·	·	·	$55M	$52M	·	$31M	$37M	$37M	·	$26M
Other Non-op	$18M	$22M	$21M	$20M	$24M	$25M	$17M	$20M	$17M	$18M	$15M	$16M	$17M	$21M	$7M	$13M
Pretax Income	$734M	$504M	$213M	$231M	$603M	$431M	$159M	$199M	$512M	$365M	$137M	$154M	$403M	$306M	$84M	$142M
Income Tax	$152M	$101M	$38M	$44M	$118M	$79M	$25M	$33M	$80M	$54M	$19M	$16M	$45M	$34M	$12M	$13M
Net Income	$582M	$403M	$175M	$186M	$486M	$352M	$134M	$166M	$432M	$311M	$119M	$138M	$358M	$272M	$72M	$129M
EPS (Basic)	$3.49	$2.48	$1.07	$1.17	$3.05	$2.25	$0.82	$1.08	$2.85	$2.08	$0.76	$0.94	$2.48	$1.92	$0.46	$0.92
EPS (Diluted)	$3.47	$2.44	$1.04	$1.16	$3.03	$2.23	$0.82	$1.08	$2.85	$2.08	$0.77	$0.94	$2.48	$1.91	$0.45	$0.92
Shares (Basic)	166,464,000	162,727,000	-315,820,000	159,285,000	159,177,000	156,301,000	-301,868,000	153,309,000	151,271,000	149,796,000	-286,691,000	146,051,000	143,941,000	141,820,000	-272,567,000	139,881,000
Shares (Diluted)	167,812,000	164,871,000	-318,848,000	161,171,000	160,426,000	157,824,000	-301,823,000	153,396,000	151,297,000	149,796,000	-286,825,000	146,067,000	143,987,000	141,937,000	-273,070,000	140,227,000
EBITDA	$765M	$709M	·	$252M	$629M	$640M	·	$220M	$551M	$564M	·	$169M	$423M	$467M	·	$155M

Balance Sheet 22

Quarterly Balance Sheet data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Cash & Equivalents	$126M	$367M	$203M	$709M	$544M	$585M	$307M	$675M	$262M	$278M	·	$56M	$95M	$172M	·	$328M
Receivables	$645M	$731M	$376M	$400M	$661M	$629M	$366M	$392M	$596M	$646M	·	$331M	$524M	$826M	·	$375M
Prepaid Expense	·	·	$80M	·	·	·	$75M	·	·	·	·	·	·	·	·	·
Other Current Assets	$354M	$374M	$302M	$300M	$288M	$457M	$288M	$480M	$428M	$527M	·	$289M	$271M	$2.31B	·	$2.35B
Current Assets	$1.26B	$1.64B	$1.05B	$1.55B	$1.59B	$1.83B	$1.13B	$1.71B	$1.43B	$1.68B	·	$889M	$1.07B	$3.63B	·	$3.28B
Goodwill	$731M	$731M	$731M	$731M	$731M	$731M	$731M	$731M	$731M	$731M	·	$731M	$731M	$731M	·	$731M
Intangibles	$70M	$73M	$75M	$77M	$79M	$81M	$83M	$85M	$87M	$90M	·	$94M	·	·	·	·
Other Non-current Assets	$1.25B	$1.09B	$1.10B	$974M	$947M	$895M	$1.04B	$944M	$939M	$864M	·	$1.04B	$1.06B	$1.04B	·	$1.09B
Total Assets	$30.38B	$29.80B	$28.25B	$27.71B	$26.98B	$26.50B	$25.19B	$24.89B	$24.00B	$23.68B	·	$21.77B	$21.31B	$23.37B	·	$21.66B
Accounts Payable	$467M	$617M	$507M	$398M	$445M	$453M	$445M	$319M	$368M	$417M	·	$328M	$365M	$575M	·	$397M
Short-term Debt	·	·	·	·	·	·	·	$0	$0	$0	·	$0	$0	$0	·	·
Current Liabilities	$1.26B	$1.45B	$1.36B	$1.13B	$1.20B	$1.17B	$1.21B	$985M	$1.06B	$1.17B	·	$1.03B	$1.11B	$3.53B	·	$3.26B
Capital Leases	·	·	$263M	·	·	·	$224M	·	·	·	·	·	·	·	·	·
Deferred Tax	$3.18B	$3.03B	$2.92B	$2.86B	$2.79B	$2.67B	$2.59B	$2.55B	$2.49B	$2.38B	·	$2.21B	$2.14B	$2.08B	·	$1.94B
Other Non-current Liabilities	$802M	$792M	$784M	$695M	$682M	$684M	$692M	$596M	$596M	$602M	·	$521M	$508M	$530M	·	$526M
Total Debt	·	·	·	·	·	·	·	$0	$0	$0	·	$0	$0	$0	·	·
Common Stock	$835.0K	$827.0K	$808.0K	$803.0K	$794.0K	$794.0K	$776.0K	$776.0K	$754.0K	$754.0K	·	$737.0K	$722.0K	$716.0K	·	$699.0K
Retained Earnings	$5.52B	$5.10B	$4.86B	$4.83B	$4.78B	$4.43B	$4.22B	$4.21B	$4.17B	$3.86B	·	$3.66B	$3.63B	$3.38B	·	$3.24B
AOCI	$465M	$470M	$475M	$478M	$477M	$482M	$466M	$510M	$496M	$469M	·	$404M	$361M	$391M	·	$305M
Stockholders' Equity	$14.91B	$14.28B	$13.56B	$13.39B	$13.14B	$12.78B	$12.16B	$12.18B	$11.62B	$11.27B	$10.87B	$10.60B	$10.21B	$9.84B	$9.42B	$9.27B
Liabilities + Equity	$30.38B	$29.80B	$28.25B	$27.71B	$26.98B	$26.50B	$25.19B	$24.89B	$24.00B	$23.68B	·	$21.77B	$21.31B	$23.37B	·	$21.66B
Shares Outstanding	166,918,310	165,434,477	161,568,384	160,521,011	158,835,123	158,726,065	155,258,845	155,229,024	150,874,552	150,834,397	148,492,783	147,304,538	144,484,650	143,155,761	140,896,598	139,888,756

Cash Flow 15

Quarterly Cash Flow data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
D&A	$196M	$195M	$186M	$186M	$183M	$181M	$173M	$167M	$165M	$165M	$159M	$151M	$148M	$146M	$140M	$134M
Deferred Tax	$135M	$93M	$54M	$44M	$100M	$71M	$34M	$29M	$66M	$44M	$33M	$16M	$29M	$30M	$13M	$777.0K
Other Non-cash	·	$-383M	·	·	·	$-321M	·	·	·	$-275M	·	·	·	$-259M	·	·
Operating Cash Flow	$723M	$308M	$348M	$496M	$923M	$282M	$331M	$411M	$747M	$245M	$238M	$329M	$2.70B	$189M	$48M	$289M
CapEx	$1.00B	$1.03B	$964M	$867M	$840M	$891M	$808M	$714M	$646M	$770M	$722M	$668M	$620M	$796M	$718M	$536M
Investing Cash Flow	$-1.00B	$-1.04B	$-968M	$-876M	$-829M	$-889M	$-804M	$-710M	$-645M	$-764M	$-718M	$-667M	$-618M	$-793M	$-715M	$-533M
Debt Issued	$0	$597M	$0	$498M	$0	$645M	$0	$342M	$0	$898M	$0	$0	$0	$797M	$0	$0
Net Debt Issued	·	$587M	·	·	·	$645M	·	·	·	$898M	·	·	·	$797M	·	·
Stock Issued	$200M	$472M	$130M	$189M	$0	$379M	$0	$496M	$0	$254M	$135M	$312M	$140M	$220M	$101M	$81M
Net Stock Activity	·	$472M	·	·	·	$379M	·	·	·	$254M	·	·	·	$220M	·	·
Dividends Paid	$164M	$160M	$141M	$138M	$138M	$135M	$126M	$125M	$122M	$120M	$111M	$108M	$106M	$105M	$97M	$95M
Financing Cash Flow	$32M	$895M	$110M	$548M	$-139M	$887M	$103M	$714M	$-123M	$785M	$441M	$301M	$-2.16B	$724M	$391M	$-11M
Net Change in Cash	$-244M	$168M	$-510M	$168M	$-44M	$281M	$-370M	$415M	$-22M	$266M	$-39M	$-37M	$-76M	$120M	$-277M	$-254M
Free Cash Flow	·	$-725M	·	·	·	$-609M	·	·	·	$-524M	·	·	·	$-607M	·	·
Levered FCF	·	·	·	·	·	·	·	·	·	$-569M	·	·	·	$-639M	·	·

Profitability 7

Quarterly Profitability data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Operating Margin	39.0%	38.3%	·	30.0%	32.2%	39.1%	·	31.4%	33.5%	34.4%	·	25.5%	27.4%	21.6%	·	18.9%
Net Margin	29.6%	30.0%	·	22.2%	24.9%	29.9%	·	23.6%	26.2%	26.9%	·	20.8%	23.2%	18.3%	·	15.8%
Pretax Margin	37.4%	37.5%	·	27.5%	30.9%	36.7%	·	28.4%	31.1%	31.5%	·	23.2%	26.1%	20.6%	·	17.3%
EBITDA Margin	39.0%	52.8%	·	30.0%	32.2%	54.4%	·	31.4%	33.5%	48.7%	·	25.5%	27.4%	31.5%	·	18.9%
ROA	2.0%	1.4%	·	0.71%	1.9%	1.4%	·	0.71%	1.9%	1.3%	·	0.63%	1.7%	1.2%	·	0.63%
ROE	4.2%	3.0%	·	1.5%	3.9%	2.9%	·	1.5%	4.0%	2.9%	·	1.4%	3.7%	3.0%	·	1.5%
ROIC	4.1%	2.9%	·	1.5%	3.9%	2.9%	·	1.5%	4.0%	3.0%	·	1.4%	3.7%	2.9%	·	1.5%

Liquidity & Solvency 4

Quarterly Liquidity & Solvency data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Current Ratio	1.0	1.1	·	1.4	1.3	1.6	·	1.7	1.4	1.4	·	0.9	1.0	1.0	·	1.0
Quick Ratio	0.6	0.8	·	1.0	1.0	1.0	·	1.1	0.8	0.8	·	0.4	0.6	0.3	·	0.2
Debt / Equity	·	·	·	·	·	·	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	·
Interest Coverage	·	·	·	·	·	·	·	·	9.9	7.7	·	5.4	11.3	8.7	·	5.9

Efficiency 2

Quarterly Efficiency data for ATO
Metric	Trend	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Asset Turnover		0.1	0.0	·	0.0	0.1	0.0	·	0.0	0.1	0.0	·	0.0	0.1	0.1	·	0.0
Receivables Turnover		3.0	2.0	·	2.1	3.1	1.8	·	1.9	2.9	1.6	·	1.9	2.8	2.2	·	2.5

Per Share 7

Quarterly Per Share data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Book Value / Share	$89.32	$86.34	·	$83.39	$82.71	$80.52	·	$78.48	$77.01	$74.74	·	$71.98	$70.63	$68.71	·	$66.25
Revenue / Share	$11.69	$8.14	·	$5.20	$12.16	$7.45	·	$4.57	$10.89	$7.73	·	$4.54	$10.70	$10.46	·	$5.82
Cash Flow / Share	·	$1.87	·	·	·	$1.79	·	·	·	$1.64	·	·	·	$1.33	·	·
Cash / Share	$0.75	$2.22	·	$4.42	$3.42	$3.68	·	$4.35	$1.74	$1.85	·	$0.38	$0.66	$1.20	·	$2.35
Dividend / Share	$1	$1	·	$1	$1	$1	·	$1	$1	$1	·	·	·	·	·	·
Dividend Paid / Share	·	·	·	·	·	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1
EPS (TTM)	$10.10	$8.86	·	$7.50	$9.19	$8.24	·	$6.95	$8.35	$7.41	·	$6.25	$7.68	$7.06	·	$5.93

Valuation (TTM) 15

Quarterly Valuation (TTM) data for ATO
Metric	Q2 2026	Q1 2025	Q4 2025	Q3 2025	Q2 2025	Q1 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2023	Q4 2023	Q3 2023	Q2 2023	Q1 2022	Q4 2022	Q3 2022
Revenue TTM	$6.09B	$5.31B	·	$4.67B	$5.48B	$4.68B	·	$4.17B	$5.01B	$4.85B	·	$4.50B	$5.49B	$4.96B	·	$4.08B
Net Income TTM	$1.66B	$1.43B	·	$1.19B	$1.44B	$1.26B	·	$1.05B	$1.24B	$1.08B	·	$896M	$1.08B	$975M	·	$805M
Market Cap	$30.83B	$27.73B	·	$24.74B	$24.55B	$22.11B	·	$18.11B	$17.93B	$17.48B	·	$17.14B	$16.23B	$16.04B	·	$15.68B
Enterprise Value	·	·	·	·	·	·	·	$17.43B	$17.67B	$17.20B	·	$17.08B	$16.14B	$15.87B	·	·
P/E	18.3	18.9	·	20.5	16.8	16.9	·	16.8	14.2	15.6	·	18.6	14.6	15.9	·	18.9
P/S	5.1	5.2	·	5.3	4.5	4.7	·	4.3	3.6	3.6	·	3.8	3.0	3.2	·	3.8
P/B	2.1	1.9	·	1.8	1.9	1.7	·	1.5	1.5	1.6	·	1.6	1.6	1.6	·	1.7
P / Tangible Book	2.2	2.1	·	2.0	2.0	1.8	·	1.6	1.7	1.7	·	1.8	1.7	1.8	·	1.8
P / Cash Flow	·	90.0	·	·	·	78.4	·	·	·	71.3	·	·	·	84.9	·	·
P / FCF	·	-38.2	·	·	·	-36.3	·	·	·	-33.3	·	·	·	-26.4	·	·
EV / EBITDA	·	·	·	·	·	·	·	79.1	32.1	30.5	·	100.9	38.2	34.0	·	·
EV / FCF	·	·	·	·	·	·	·	·	·	-32.8	·	·	·	-26.2	·	·
EV / Revenue	·	·	·	·	·	·	·	4.2	3.5	3.5	·	3.8	2.9	3.2	·	·
Earnings Yield	5.5%	5.3%	·	4.9%	5.9%	5.9%	·	6.0%	7.0%	6.4%	·	5.4%	6.8%	6.3%	·	5.3%
Payout Ratio	·	39.8%	·	·	·	38.5%	·	·	·	38.5%	·	·	·	38.5%	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Revenue	$4.70B	$4.17B	$4.28B	$4.20B	$3.41B
Operating Margin %	33.2%	32.5%	25.0%	21.9%	26.6%
Net Income	$1.20B	$1.04B	$886M	$774M	$666M
Diluted EPS	$7.46	$6.83	$6.10	$5.60	$5.12

Balance Sheet

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Debt / Equity	—	0.0	0.0	0.0	—
Current Ratio	0.8	0.9	0.7	0.8	0.8
Quick Ratio	0.4	0.6	0.3	0.1	0.1

Cash Flow

	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30
Free Cash Flow	$-1.51B	$-1.20B	$654M	$-1.47B	$-3.05B

Latest News Recent headlines mentioning this company

Here is Why Atmos Energy (ATO) is Among the 10 Best Utility Stocks that Beat Earnings Estimates Yahoo Finance · 1 week, 2 days ago
Atmos Energy Q2 Earnings Call Highlights Yahoo Finance · 1 week, 3 days ago
Atmos Energy Q2 Net Income Rises; Raises FY26 EPS Guidance Range Nasdaq · 2 weeks ago
Analyst Report: Atmos Energy Corp Yahoo Finance · 1 month ago

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Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Dividends Yield, payout ratio, dividend history, 5Y CAGR

ATO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

12-Month Price Target

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Latest News Recent headlines mentioning this company

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