TXNM TXNM Energy, Inc. Common Stock
NYSE · Utilities · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 31, 2026
$58.41
· of 52w range
· above low
· to high
$55.6452w low
$59.5352w high
Market Cap (MRQ)
$6.49B
P/E (TTM)
31.9
EPS (TTM)
$1.83
Revenue (TTM)
$2.23B
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52W Range
$56–$60
Analyst Rating
HOLD
Price Target
$61
P/E
31.9
ROE
6.4%
Net Profit Margin
9.6%
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TXNM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$58.41
Market Cap (MRQ)
$6.49B
P/E (TTM)
31.9
EPS (TTM)
$1.83
Revenue (TTM)
$2.23B
Div Yield
2.6%
ROE (TTM)
6.4%
Debt/Equity (MRQ)
1.7
52W Range
$56–$60
TXNM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| June 14, 2004 | 3-for-2 | Forward |
About TXNM Energy, Inc. Common Stock Company overview from Wikipedia
TXNM Energy, Inc. (formerly PNM Resources) is an energy holding company based in Albuquerque, New Mexico. TXNM was founded in 1917 as the Albuquerque Gas and Electric Company. TXNM Energy owns both PNM and Texas - New Mexico Power (TNMP). In 2025, Blackstone Inc.'s infrastructure business agreed to acquire the company for an enterprise value of $11.5 billion.
Headquartered in Albuquerque, TXNM Energy has a diverse energy portfolio and combined with their purchased power resources contribute to a total generation capacity of approximately 2.7 gigawatts and serves electricity to 800,000 residential and business customers across New Mexico and Texas.
Primary holdings
TNMP
Texas-New Mexico Power is a corporation that is wholly owned by TXNM Energy. It is a regulated electric utility operating in Texas. TNMP was sold in a leveraged buyout in 2000. TXNM acquired Texas—New Mexico Power in 2005 and moved the New Mexico properties to TXNM in 2006. TNMP is headquartered in Lewisville, Texas.
Corporate organization and history
TXNM was founded in 1917 as the Albuquerque Gas and Electric Company. TXNM sold the gas part of the business to Southern Union Gas Company of Dallas in 1949. These sold portions became the Gas Company of New Mexico. In 1985, however, PNM reacquired the Gas Company of New Mexico after Southern Union Gas Company reached a settlement stemming from federal antitrust litigation. In 1994, both electric and gas operations began serving customers as PNM.
In May 2003, TXNM Energy' utility subsidiary, PNM, was recognized by the American Wind Energy Association's Utility Leadership Award for PNM's role in the creation of the New Mexico Wind Energy Center. The award was presented at the National Wind Energy Conference in Austin, Texas.
In 2008, PNM sold New Mexico Gas to Continental Energy, a company backed by the private equity firm Lindsay Goldberg. It was later acquired by TECO Energy. It will soon become a division of Halifax, Canada-based Emera when its acquisition of TECO Energy closes by mid-2016.
On October 21, 2020, the company announced a strategic merger with Avangrid, a subsidiary of Iberdrola.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorUtilities
industryUtilities
employees1,755
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$2.17B2023-12-31 → 2025-12-31
EPS$1.482023-12-31 → 2025-12-31
Free Cash Flow$-611M2023-12-31 → 2025-12-31
Net margin9.6%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | TXNM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 31.9 | · | 20.5 | Overvalued | |
| P/S (TTM) | 2.9 | · | 2.9 | Fair value | |
| P/B (MRQ) | 1.8 | · | 2.0 | Undervalued | |
| EV / EBITDA | 12.9 | · | 11.8 | Fair value | |
| Price / FCF (TTM) | -12.9 | · | · | · | |
| Price / Cash Flow (TTM) | 9.8 | · | 8.8 | Overvalued | |
| EV / Revenue | 5.5 | · | · | · | |
| EV / FCF | -19.5 | · | · | · | |
| Price / Tangible Book | 2.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | TXNM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 22.2% | · | 21.7% | In line | |
| EBITDA Margin (TTM) | 44.7% | · | 26.9% | Weak | |
| Pretax Margin (TTM) | 10.5% | · | 18.4% | Weak | |
| Net Profit Margin (TTM) | 9.6% | · | 12.4% | In line | |
| ROA (TTM) | 1.8% | · | 2.8% | Weak | |
| ROE (TTM) | 6.4% | · | 9.3% | Weak | |
| ROIC | 4.6% | · | 5.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | TXNM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 1.7 | · | 1.1 | High debt | |
| Current Ratio (MRQ) | 0.6 | · | 1.0 | Low liquidity | |
| Quick Ratio | 0.2 | · | 0.3 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 1.5 | · | 1.1 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | TXNM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 9.9% | · | · | · | |
| Revenue CAGR 3Y | -1.3% | · | · | · | |
| Revenue CAGR 5Y | 7.3% | · | · | · | |
| EPS YoY | -44.6% | · | · | · | |
| Net Income YoY | -34.4% | · | · | · | |
| EPS CAGR 3Y | -9.1% | · | · | · | |
| EPS CAGR 5Y | -7.2% | · | · | · | |
| Net Income CAGR 3Y | -2.8% | · | · | · | |
| Net Income CAGR 5Y | -1.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | TXNM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | Weak | |
| Receivables Turnover | 15.4 | · | 7.8 | Top tier | |
| Revenue / Employee | ≈$1.2M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield2.6%
Payout Ratio96.2%
Annualized Payout≈$1.69
5Y Div CAGR≈5.8%
Growth Streak≈14
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 3, 2026 | $0.42 | USD | ≈2.9% |
| Apr 27, 2026 | $0.42 | USD | ≈2.8% |
| Jan 30, 2026 | $0.42 | USD | ≈2.8% |
| Oct 24, 2025 | $0.41 | USD | ≈2.9% |
| Aug 8, 2025 | $0.41 | USD | ≈2.8% |
| Apr 25, 2025 | $0.41 | USD | ≈3.0% |
| Jan 31, 2025 | $0.41 | USD | ≈3.3% |
| Oct 28, 2024 | $0.39 | USD | ≈3.5% |
| Jul 26, 2024 | $0.39 | USD | ≈3.8% |
| Apr 25, 2024 | $0.39 | USD | ≈4.2% |
| Feb 1, 2024 | $0.39 | USD | ≈4.1% |
| Oct 26, 2023 | $0.37 | USD | ≈3.4% |
| Aug 10, 2023 | $0.37 | USD | ≈3.3% |
| Apr 27, 2023 | $0.37 | USD | ≈3.0% |
| Feb 2, 2023 | $0.37 | USD | ≈2.9% |
| Oct 26, 2022 | $0.35 | USD | ≈3.0% |
| Aug 16, 2022 | $0.35 | USD | ≈2.8% |
| Apr 28, 2022 | $0.35 | USD | ≈2.8% |
| Feb 11, 2022 | $0.35 | USD | ≈3.0% |
| Oct 29, 2021 | $0.33 | USD | ≈2.6% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-17.9%
Next Report
Oct 29, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 30, 2026 | $0.58 | $0.55 | 5.6% |
| March 31, 2026 | $0.21 | $0.31 | -31.4% | |
| Dec. 31, 2025 | $0.48 | $0.64 | -24.7% | |
| Sept. 30, 2025 | $1.33 | $1.51 | -11.7% | |
| June 30, 2025 | $0.25 | $0.42 | -40.5% | |
| March 31, 2025 | $0.19 | $0.20 | -4.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.17B | $1.97B | $1.94B | $2.25B | $1.78B | $1.52B | $1.46B | $1.44B | $1.45B | $1.36B | |
| Gross Profit | · | · | $656M | $740M | $649M | $607M | · | · | · | · | |
| SG&A Expense | $274M | $247M | $228M | $227M | $230M | $216M | $189M | $188M | $178M | $185M | |
| Operating Income | $441M | $453M | $231M | $394M | $308M | $285M | $144M | $236M | $315M | $285M | |
| Interest Expense | · | · | $190M | $128M | $97M | $114M | $121M | $127M | $128M | $129M | |
| Interest Income | $20M | $24M | $22M | $16M | $15M | $14M | $14M | $16M | $16M | $22M | |
| Other Non-op | $10M | $55M | $50M | $-55M | $33M | $37M | $44M | $254.0K | $38M | $39M | |
| Pretax Income | $180M | $280M | $91M | $211M | $244M | $208M | $67M | $109M | $226M | $195M | |
| Income Tax | $10M | $22M | $-16M | $26M | $33M | $21M | $-25M | $8M | $130M | $63M | |
| Net Income | $170M | $259M | $107M | $185M | $212M | $187M | $92M | · | $80M | $117M | |
| EPS (Basic) | $1.49 | $2.67 | $1.02 | $1.97 | $2.28 | $2.16 | $0.97 | $1.07 | $1.00 | $1.47 | |
| EPS (Diluted) | $1.48 | $2.67 | $1.02 | $1.97 | $2.27 | $2.15 | $0.97 | $1.07 | $1.00 | $1.46 | |
| Shares (Basic) | 101,507,000 | 90,534,000 | 86,296,000 | 86,122,000 | 86,070,000 | 80,157,000 | 79,931,000 | 79,890,000 | 79,891,000 | 79,758,000 | |
| Shares (Diluted) | 102,392,000 | 90,591,000 | 86,369,000 | 86,169,000 | 86,111,000 | 80,303,000 | 79,990,000 | 80,012,000 | 80,141,000 | 80,132,000 | |
| EBITDA | $925M | $876M | $585M | $735M | $628M | $600M | $445M | $512M | $575M | $520M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $18M | $4M | $2M | $4M | $1M | $48M | $4M | $2M | $4M | $6M | |
| Receivables | $152M | $130M | $126M | $184M | $123M | $113M | $86M | $93M | $90M | $87M | |
| Inventory | $181M | $167M | $98M | $67M | $65M | $66M | $78M | $72M | $67M | $73M | |
| Prepaid Expense | $29M | $25M | $20M | $18M | $37M | $42M | · | · | · | · | |
| Other Current Assets | $12M | $16M | $9M | $32M | $2M | $22M | $44M | $55M | $47M | $73M | |
| Current Assets | $565M | $499M | $476M | $411M | $325M | $377M | $294M | $303M | $294M | $378M | |
| Goodwill | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | |
| Total Assets | $12.06B | $11.21B | $10.25B | $9.26B | $8.67B | $7.94B | $7.30B | $6.87B | $6.65B | $6.47B | |
| Accounts Payable | $243M | $204M | $205M | $216M | $173M | $169M | $103M | $112M | $121M | $87M | |
| Short-term Debt | $181M | $609M | $262M | $232M | $63M | $32M | $185M | $236M | $305M | $287M | |
| Current Liabilities | $1.02B | $1.78B | $1.23B | $890M | $664M | $978M | $967M | $512M | $836M | $805M | |
| Capital Leases | $97M | $255M | $167M | $41M | $56M | $81M | $106M | · | · | · | |
| Deferred Tax | $961M | $899M | $845M | $823M | $765M | $695M | $626M | $601M | $547M | $941M | |
| Total Liabilities | $8.60B | $8.62B | $7.84B | $7.00B | $6.43B | $5.82B | $5.55B | $5.10B | $4.87B | $4.71B | |
| Long-term Debt | $5.42B | $4.92B | $4.52B | $4.08B | $3.70B | $3.30B | $3.01B | $2.67B | $2.44B | $2.39B | |
| Total Debt | $5.60B | $5.53B | $4.78B | $4.31B | $3.76B | $3.33B | $3.19B | $2.91B | $2.74B | $2.68B | |
| Common Stock | $2.56B | $1.72B | $1.62B | $1.43B | $1.43B | $1.43B | $1.15B | $1.15B | $1.16B | $1.16B | |
| Retained Earnings | $867M | $888M | $787M | $829M | $810M | $699M | $628M | $644M | $634M | $605M | |
| AOCI | $-27M | $-76M | $-63M | $-66M | $-72M | $-79M | $-99M | $-109M | $-96M | $-92M | |
| Stockholders' Equity | $3.40B | $2.54B | $2.35B | $2.19B | $2.17B | $2.05B | $1.68B | $1.69B | $1.70B | $1.68B | |
| Liabilities + Equity | $12.06B | $11.21B | $10.25B | $9.26B | $8.67B | $7.94B | $7.30B | $6.87B | $6.65B | $6.47B | |
| Shares Outstanding | 108,921,356 | 92,659,335 | 90,200,384 | 85,834,874 | 85,834,874 | 85,834,874 | 79,653,624 | 79,653,624 | 79,653,624 | 79,653,624 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $483M | $423M | $354M | $341M | $320M | $315M | $301M | $276M | $268M | $242M | |
| Stock-based Comp | $9M | $9M | $7M | $8M | $9M | $8M | $6M | $7M | $6M | $6M | |
| Deferred Tax | $8M | $43M | $-14M | $25M | $31M | $20M | $-25M | $8M | $131M | $64M | |
| Other Non-cash | $-86M | $-226M | $97M | $9M | $-24M | · | · | · | $40M | $-13M | |
| Operating Cash Flow | $584M | $508M | $551M | $567M | $548M | $486M | $503M | $428M | $523M | $408M | |
| CapEx | $1.20B | $1.25B | $1.08B | $913M | $935M | $679M | $616M | $501M | $500M | $600M | |
| Investing Cash Flow | $-1.22B | $-1.17B | $-1.09B | $-950M | $-952M | $-734M | $-674M | $-476M | $-466M | $-699M | |
| Debt Issued | $3.69B | $1.23B | $1.36B | $558M | $1.82B | $1.27B | $745M | $985M | $317M | $604M | |
| Net Debt Issued | $503M | $413M | $448M | $378M | $405M | $290M | $338M | $234M | $43M | $300M | |
| Stock Issued | $843M | $99M | $198M | $0 | $0 | $283M | $0 | $0 | · | · | |
| Stock Repurchased | $12M | $8M | $10M | $8M | $10M | $12M | $10M | $13M | $14M | $15M | |
| Net Stock Activity | $831M | $90M | $189M | $-8M | $-10M | $271M | $-10M | $-13M | $-14M | $-15M | |
| Dividends Paid | $163M | $140M | $127M | $120M | $113M | $99M | $93M | $85M | $78M | · | |
| Financing Cash Flow | $643M | $684M | $537M | $386M | $358M | $292M | $172M | $46M | $-59M | $242M | |
| Net Change in Cash | $10M | $18M | $-135.0K | $3M | $-47M | $44M | $2M | $-2M | $-2M | $-49M | |
| Taxes Paid | $2M | $-998.0K | $2M | $-1M | $1M | $969.0K | $-3M | $842.0K | $625.0K | $-307.0K | |
| Free Cash Flow | $-611M | $-739M | $-525M | $-345M | $-387M | $-193M | $-113M | $-73M | $24M | $-185M | |
| Levered FCF | · | · | $-749M | $-457M | $-471M | $-296M | $-280M | $-191M | $-30M | $-272M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | 33.8% | 32.9% | · | · | · | · | · | · | |
| Operating Margin | 20.4% | 23.0% | 11.9% | 17.5% | 17.3% | 18.7% | 9.9% | 16.4% | · | · | |
| Net Margin | 7.8% | 13.1% | 5.5% | 8.2% | 11.9% | · | · | · | · | · | |
| Pretax Margin | 8.3% | 14.2% | 4.7% | 9.4% | 13.7% | 13.7% | 4.6% | 7.6% | · | · | |
| EBITDA Margin | 42.7% | 44.5% | 30.2% | 32.7% | 35.3% | 39.4% | 30.6% | 35.6% | · | · | |
| ROA | 1.5% | 2.4% | 1.1% | 2.0% | 2.5% | · | · | · | 1.2% | 1.8% | |
| ROE | 5.7% | 10.6% | 4.7% | 8.5% | 10.1% | · | · | · | 4.7% | 7.0% | |
| ROIC | 4.6% | 5.2% | 3.8% | 5.3% | 4.5% | 4.8% | 4.1% | 4.8% | 2.9% | 4.3% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.3 | 0.4 | 0.5 | 0.5 | 0.4 | 0.3 | 0.6 | 0.4 | 0.5 | |
| Quick Ratio | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.1 | 0.1 | |
| Debt / Equity | 1.6 | 2.2 | 2.0 | 2.0 | 1.7 | 1.6 | 1.9 | 1.7 | 1.6 | 1.6 | |
| LT Debt / Equity | 1.5 | 1.7 | 1.8 | 1.8 | 1.6 | 1.3 | 1.5 | 1.6 | 1.3 | 1.3 | |
| Interest Coverage | · | · | 1.2 | 3.1 | 3.2 | 2.5 | 1.2 | 1.9 | 2.4 | 2.2 |
Efficiency
| 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 | 0.2 | · | · | |
| Receivables Turnover | 15.4 | 15.4 | 12.5 | 14.7 | 15.0 | 15.3 | 16.3 | 15.7 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $31.25 | $28.12 | $27.37 | $25.54 | $25.25 | $25.73 | $21.07 | $21.20 | $21.28 | $21.04 | |
| Revenue / Share | $21.15 | $21.76 | $22.45 | $26.11 | $20.67 | $18.97 | $18.22 | $17.95 | · | · | |
| Cash Flow / Share | $5.71 | $5.61 | $6.38 | $6.58 | $6.36 | $6.05 | $6.29 | $5.35 | $6.54 | $5.18 | |
| Cash / Share | $0.17 | $0.05 | $0.03 | $0.05 | $0.01 | $0.60 | $0.05 | $0.03 | $0.05 | $0.06 | |
| Dividend / Share | $1.65 | $1.57 | $1.49 | $1.41 | $1.33 | $1.25 | $1.18 | $1.08 | $0.99 | $0.90 | |
| EPS (TTM) | $1.48 | $2.67 | $1.02 | $1.97 | $2.27 | $2.15 | $0.97 | $1.07 | $1.00 | $1.46 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 9.9% | 1.7% | -13.8% | 26.4% | 16.9% | · | · | · | · | · | |
| Revenue CAGR 3Y | -1.3% | 3.5% | 8.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.3% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -44.6% | 161.8% | -48.2% | -13.2% | 5.6% | · | · | · | · | · | |
| EPS CAGR 3Y | -9.1% | 5.6% | -22.0% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -7.2% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -34.4% | 142.1% | -42.3% | -12.6% | 13.1% | · | · | · | · | · | |
| Net Income CAGR 3Y | -2.8% | 6.9% | -17.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -1.9% | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 10.7% | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.17B | $1.97B | $1.94B | $2.25B | $1.78B | $1.52B | $1.46B | $1.44B | $1.45B | $1.36B | |
| Net Income TTM | $170M | $259M | $107M | $185M | $212M | $187M | $92M | $86M | $80M | $117M | |
| Market Cap | $6.41B | $4.44B | $3.57B | $4.19B | $3.91B | $3.87B | $4.04B | $3.27B | $3.22B | $2.73B | |
| Enterprise Value | $11.99B | $9.96B | $8.35B | $8.49B | $7.68B | $7.14B | $7.23B | $6.18B | $5.96B | $5.41B | |
| P/E | 39.8 | 18.4 | 40.8 | 24.8 | 20.1 | 22.6 | 52.3 | 38.4 | 40.5 | 23.5 | |
| P/S | 3.0 | 2.2 | 1.8 | 1.9 | 2.2 | 2.5 | 2.8 | 2.3 | 2.2 | 2.0 | |
| P/B | 1.9 | 1.7 | 1.5 | 1.9 | 1.8 | 1.9 | 2.4 | 1.9 | 1.9 | 1.6 | |
| P / Tangible Book | 2.1 | 2.0 | 1.7 | 2.2 | 2.1 | 2.2 | · | · | · | · | |
| P / Cash Flow | 11.0 | 8.7 | 6.5 | 7.4 | 7.1 | 8.0 | 8.0 | 7.6 | 6.1 | 6.6 | |
| P / FCF | -10.5 | -6.0 | -6.8 | -12.1 | -10.1 | -20.0 | -35.7 | -44.8 | 134.2 | -14.8 | |
| EV / EBITDA | 13.0 | 11.4 | 14.3 | 11.6 | 12.2 | 11.9 | 16.2 | 12.1 | 10.4 | 10.4 | |
| EV / FCF | -19.6 | -13.5 | -15.9 | -24.6 | -19.8 | -37.0 | -63.9 | -84.6 | 248.4 | -29.3 | |
| EV / Revenue | 5.5 | 5.1 | 4.3 | 3.8 | 4.3 | 4.7 | 5.0 | 4.3 | 4.1 | 4.0 | |
| Dividend Yield | 2.5% | 3.2% | 3.5% | 2.9% | 2.9% | 2.5% | 2.3% | 2.6% | 2.4% | · | |
| Earnings Yield | 2.5% | 5.4% | 2.5% | 4.0% | 5.0% | 4.4% | 1.9% | 2.6% | 2.5% | 4.3% | |
| Payout Ratio | 96.2% | 54.2% | 118.5% | 64.7% | 53.3% | · | · | · | · | · | |
| Annual Payout | $163M | $140M | $127M | $120M | $113M | $99M | $93M | $85M | $78M | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $549M | $505M | $533M | $647M | $502M | $483M | $477M | $569M | $488M | $437M | $412M | $506M | $477M | $544M | $576M | $730M | |
| Gross Profit | · | · | · | · | · | · | · | $297M | $198M | $176M | · | $177M | $182M | $187M | · | $269M | |
| SG&A Expense | $65M | $67M | $69M | $68M | $76M | $61M | $67M | $65M | $60M | $55M | $60M | $58M | $54M | $55M | $62M | $58M | |
| Operating Income | $123M | $77M | $94M | $203M | $73M | $72M | $76M | $191M | $106M | $81M | $-47M | $87M | $92M | $99M | $57M | $183M | |
| Interest Expense | $69M | $69M | · | $70M | $72M | $64M | · | $60M | $56M | $54M | · | $50M | $46M | $41M | · | $35M | |
| Interest Income | $4M | $4M | $5M | $6M | $4M | $4M | $6M | $9M | $4M | $5M | $6M | $5M | $5M | $5M | $5M | $4M | |
| Other Non-op | $34M | $-420.0K | $-44M | $23M | $27M | $5M | $4M | $28M | $11M | $11M | $26M | $835.0K | $11M | $12M | $11M | $-8M | |
| Pretax Income | $88M | $8M | $-16M | $155M | $27M | $14M | $22M | $160M | $61M | $38M | $-75M | $38M | $58M | $70M | $29M | $140M | |
| Income Tax | $12M | $-9.0K | $-11M | $19M | $1M | $1M | $2M | $23M | $9M | $-13M | $-29M | $-5M | $8M | $10M | $9M | $13M | |
| Net Income | $75M | $8M | $-5M | $136M | $26M | $13M | $20M | $136M | $52M | $50M | $-46M | $43M | $49M | $60M | $20M | $127M | |
| EPS (Basic) | $0.64 | $0.03 | $-0.05 | $1.22 | $0.22 | $0.10 | $0.17 | $1.45 | $0.53 | $0.52 | $-0.59 | $0.44 | $0.53 | $0.64 | $0.18 | $1.42 | |
| EPS (Diluted) | $0.64 | $0.03 | $-0.06 | $1.22 | $0.22 | $0.10 | $0.17 | $1.45 | $0.53 | $0.52 | $-0.59 | $0.44 | $0.53 | $0.64 | $0.18 | $1.42 | |
| Shares (Basic) | 111,182,000 | 109,848,000 | · | 107,361,000 | 96,132,000 | 93,017,000 | · | 90,530,000 | 90,504,000 | 90,483,000 | · | 86,089,000 | 86,085,000 | 86,101,000 | · | 86,101,000 | |
| Shares (Diluted) | 111,232,000 | 112,860,000 | · | 107,417,000 | 96,197,000 | 93,179,000 | · | 90,605,000 | 90,552,000 | 90,514,000 | · | 86,129,000 | 86,129,000 | 86,141,000 | · | 86,136,000 | |
| EBITDA | $123M | $202M | · | $203M | $73M | $186M | · | $191M | $106M | $184M | · | $87M | $92M | $186M | · | $183M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $15M | $6M | $18M | $32M | $22M | $6M | $4M | $7M | $3M | $3M | · | $8M | $8M | $4M | · | $6M | |
| Receivables | $145M | $136M | $152M | $191M | $146M | $132M | $130M | $150M | $122M | $105M | · | $175M | $121M | $129M | · | $180M | |
| Inventory | $194M | $190M | $181M | $173M | $171M | $168M | $167M | $121M | $115M | $104M | · | $83M | $81M | $64M | · | $65M | |
| Prepaid Expense | $33M | $25M | $29M | $31M | $40M | $26M | $25M | $34M | $30M | $17M | · | $22M | $23M | $22M | · | $18M | |
| Other Current Assets | $16M | $5M | $12M | $6M | $14M | $8M | $16M | $9M | $22M | $16M | · | $6M | $10M | $11M | · | $6M | |
| Current Assets | $660M | $562M | $565M | $595M | $574M | $489M | $499M | $496M | $538M | $408M | · | $489M | $405M | $352M | · | $410M | |
| Goodwill | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | $278M | |
| Total Assets | $12.51B | $12.14B | $12.06B | $11.97B | $11.68B | $11.39B | $11.21B | $10.84B | $10.58B | $10.26B | $10.25B | $10.05B | $9.63B | $9.35B | $9.26B | $9.03B | |
| Accounts Payable | $195M | $157M | $243M | $154M | $148M | $163M | $204M | $136M | $140M | $133M | · | $157M | $148M | $122M | · | $127M | |
| Short-term Debt | $483M | $263M | $181M | $314M | $346M | $594M | $609M | $459M | $326M | $244M | · | $406M | $326M | $409M | · | $60M | |
| Current Liabilities | $1.18B | $1.02B | $1.02B | $1.18B | $1.12B | $1.69B | $1.78B | $1.37B | $1.14B | $1.11B | · | $1.48B | $1.11B | $1.20B | · | $666M | |
| Capital Leases | $35M | $41M | $97M | $300M | $246M | $253M | $255M | $158M | $160M | $166M | · | $169M | $35M | $40M | · | $42M | |
| Deferred Tax | $991M | $970M | $961M | $946M | $918M | $910M | $899M | $886M | $854M | $836M | · | $859M | $861M | $839M | · | $807M | |
| Total Liabilities | $8.89B | $8.61B | $8.60B | $8.50B | $8.45B | $8.83B | $8.62B | $8.32B | $8.12B | $7.84B | · | $7.75B | $7.30B | $7.08B | · | $6.76B | |
| Long-term Debt | $5.42B | $5.42B | $5.42B | $5.08B | $5.20B | $5.25B | $4.92B | $4.92B | $4.84B | $4.64B | · | $4.41B | $4.35B | $4.08B | · | $4.08B | |
| Total Debt | $5.90B | $5.68B | · | $5.40B | $5.54B | $5.85B | · | $5.38B | $5.16B | $4.88B | · | $4.81B | $4.68B | $4.49B | · | $4.14B | |
| Common Stock | $2.69B | $2.67B | $2.56B | $2.57B | $2.37B | $1.72B | $1.72B | $1.62B | $1.63B | $1.62B | · | $1.43B | $1.42B | $1.42B | · | $1.43B | |
| Retained Earnings | $895M | $824M | $867M | $924M | $879M | $858M | $888M | $909M | $847M | $799M | · | $872M | $898M | $852M | · | $845M | |
| AOCI | $-26M | $-26M | $-27M | $-74M | $-75M | $-75M | $-76M | $-73M | $-70M | $-68M | · | $-62M | $-59M | $-64M | · | $-70M | |
| Stockholders' Equity | $3.55B | $3.46B | $3.40B | $3.42B | $3.17B | $2.50B | $2.54B | $2.46B | $2.40B | $2.36B | · | $2.24B | $2.26B | $2.21B | · | $2.20B | |
| Liabilities + Equity | $12.51B | $12.14B | $12.06B | $11.97B | $11.68B | $11.39B | $11.21B | $10.84B | $10.58B | $10.26B | · | $10.05B | $9.63B | $9.35B | · | $9.03B | |
| Shares Outstanding | 111,045,010 | 110,707,257 | 108,921,356 | 108,921,356 | 105,378,979 | 92,659,335 | 92,659,335 | 90,200,384 | 90,200,384 | 90,200,384 | · | 85,834,874 | 85,834,874 | 85,834,874 | · | 85,834,874 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $128M | $125M | $122M | $126M | $121M | $114M | $109M | $108M | $103M | $103M | $91M | $89M | $87M | $87M | $85M | $86M | |
| Stock-based Comp | $-832.0K | $5M | $2M | $1M | $2M | $3M | $2M | $1M | $2M | $5M | $1M | $2M | $853.0K | $3M | $2M | $1M | |
| Deferred Tax | $12M | $-547.0K | $-11M | $18M | $1M | $618.0K | $5M | $23M | $8M | $7M | $-24M | $-6M | $8M | $10M | $9M | $13M | |
| Other Non-cash | · | $15M | · | · | · | $11M | · | · | · | $-72M | · | · | · | $-29M | · | · | |
| Operating Cash Flow | $70M | $153M | $158M | $282M | $4M | $141M | $159M | $180M | $77M | $93M | $139M | $170M | $111M | $132M | $140M | $210M | |
| CapEx | $265M | $313M | $310M | $277M | $266M | $343M | $342M | $324M | $293M | $289M | $268M | $271M | $273M | $264M | $210M | $227M | |
| Investing Cash Flow | $-266M | $-315M | $-327M | $-279M | $-266M | $-345M | $-369M | $-326M | $-295M | $-184M | $-277M | $-282M | $-279M | $-251M | $-239M | $-232M | |
| Debt Issued | $0 | $0 | $540M | $1.43B | $1.38B | $335M | $0 | $168M | $948M | $117M | $343M | $55M | $960M | $0 | $0 | $320M | |
| Net Debt Issued | · | $-4M | · | · | · | $332M | · | · | · | $117M | · | · | · | $0 | · | · | |
| Stock Issued | $20M | $104M | $-152.0K | $198M | $645M | $0 | $99M | $0 | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $980.0K | $5M | $4M | $184.0K | $2M | $6M | $477.0K | $2M | $808.0K | $5M | $15.0K | $13.0K | $1M | $8M | $134.0K | $221.0K | |
| Net Stock Activity | · | $98M | · | · | · | $-6M | · | · | · | $-5M | · | · | · | $-8M | · | · | |
| Dividends Paid | $47M | $46M | $45M | $43M | $38M | $38M | $35M | $35M | $35M | $35M | $32M | $32M | $32M | $32M | $30M | $30M | |
| Financing Cash Flow | $211M | $142M | $161M | $-314.0K | $284M | $198M | $216M | $142M | $227M | $100M | $134M | $112M | $171M | $120M | $98M | $25M | |
| Net Change in Cash | $15M | $-20M | $-8M | $2M | $22M | $-6M | $6M | $-4M | $8M | $8M | $-4M | $128.0K | $4M | $54.0K | $-2M | $2M | |
| Taxes Paid | $2M | $0 | $0 | $0 | $2M | $0 | $-603.0K | $0 | $93.0K | $-488.0K | $105.0K | $0 | $1M | $0 | $-2M | $0 | |
| Free Cash Flow | · | $-160M | · | · | · | $-201M | · | · | · | $-196M | · | · | · | $-133M | · | · | |
| Levered FCF | · | $-228M | · | · | · | $-260M | · | · | · | $-268M | · | · | · | $-168M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | · | · | 52.2% | 40.7% | 40.3% | · | 35.0% | 38.1% | 34.3% | · | 36.9% | |
| Operating Margin | 22.5% | 15.2% | · | 31.4% | 14.5% | 14.9% | · | 33.6% | 21.6% | 18.4% | · | 17.1% | 19.4% | 18.2% | · | 25.0% | |
| Net Margin | 13.7% | 1.6% | · | 21.1% | 5.2% | 2.6% | · | 24.0% | 10.7% | 11.5% | · | 8.5% | 10.4% | 11.1% | · | 17.4% | |
| Pretax Margin | 16.0% | 1.6% | · | 24.0% | 5.4% | 2.9% | · | 28.1% | 12.5% | 8.6% | · | 7.4% | 12.1% | 12.9% | · | 19.2% | |
| EBITDA Margin | 22.5% | 40.1% | · | 31.4% | 14.5% | 38.6% | · | 33.6% | 21.6% | 42.0% | · | 17.1% | 19.4% | 34.2% | · | 25.0% | |
| ROA | 0.62% | 0.07% | · | 1.2% | 0.23% | 0.12% | · | 1.3% | 0.51% | 0.51% | · | 0.45% | 0.56% | 0.66% | · | 1.5% | |
| ROE | 2.2% | 0.27% | · | 4.6% | 0.93% | 0.53% | · | 5.8% | 2.2% | 2.2% | · | 1.9% | 2.3% | 2.8% | · | 5.8% | |
| ROIC | 1.1% | 0.84% | · | 2.0% | 0.79% | 0.80% | · | 2.1% | 1.2% | 1.5% | · | 1.4% | 1.1% | 1.3% | · | 2.6% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.6 | 0.5 | · | 0.5 | 0.5 | 0.3 | · | 0.4 | 0.5 | 0.4 | · | 0.3 | 0.4 | 0.3 | · | 0.6 | |
| Quick Ratio | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.3 | |
| Debt / Equity | 1.7 | 1.6 | · | 1.6 | 1.7 | 2.3 | · | 2.2 | 2.1 | 2.1 | · | 2.2 | 2.1 | 2.0 | · | 1.9 | |
| LT Debt / Equity | 1.5 | 1.5 | · | 1.4 | 1.5 | 1.8 | · | 1.8 | 1.9 | 1.8 | · | 1.7 | 1.7 | 1.7 | · | 1.8 | |
| Interest Coverage | 1.8 | 1.1 | · | 2.9 | 1.0 | 1.1 | · | 3.2 | 1.9 | 1.5 | · | 1.7 | 2.0 | 2.4 | · | 5.3 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 3.8 | 3.8 | · | 3.8 | 3.7 | 4.1 | · | 3.5 | 4.0 | 3.7 | · | 2.9 | 3.9 | 3.9 | · | 4.6 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $32.01 | $31.30 | · | $31.36 | $30.09 | $27.03 | · | $27.27 | $26.64 | $26.12 | · | $26.04 | $26.36 | $25.77 | · | $25.65 | |
| Revenue / Share | $4.93 | $4.47 | · | $6.02 | $5.22 | $5.18 | · | $6.28 | $5.39 | $4.83 | · | $5.87 | $5.54 | $6.32 | · | $8.47 | |
| Cash Flow / Share | · | $1.36 | · | · | · | $1.52 | · | · | · | $1.03 | · | · | · | $1.53 | · | · | |
| Cash / Share | $0.13 | $0.05 | · | $0.29 | $0.21 | $0.07 | · | $0.08 | $0.04 | $0.03 | · | $0.09 | $0.09 | $0.05 | · | $0.07 | |
| Dividend / Share | $0.42 | $0.42 | $0.43 | $0.41 | $0.41 | $0.41 | $0.41 | $0.39 | $0.39 | $0.39 | $0.39 | $0.37 | $0.37 | $0.37 | $0.37 | $0.35 | |
| EPS (TTM) | $1.83 | $1.41 | · | $1.71 | $1.94 | $2.25 | · | $1.91 | $0.90 | $0.90 | · | $1.79 | $2.77 | $2.42 | · | $1.92 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.23B | $2.19B | · | $2.11B | $2.03B | $2.02B | · | $1.91B | $1.84B | $1.83B | · | $2.10B | $2.33B | $2.35B | · | $2.11B | |
| Net Income TTM | $214M | $165M | · | $195M | $195M | $221M | · | $193M | $100M | $97M | · | $173M | $257M | $226M | · | $180M | |
| Market Cap | $6.31B | $6.47B | · | $6.16B | $5.93B | $4.96B | · | $3.95B | $3.33B | $3.40B | · | $3.83B | $3.87B | $4.18B | · | $3.93B | |
| Enterprise Value | $12.19B | $12.14B | · | $11.52B | $11.46B | $10.80B | · | $9.32B | $8.49B | $8.28B | · | $8.63B | $8.54B | $8.66B | · | $8.06B | |
| P/E | 31.0 | 41.5 | · | 33.1 | 29.0 | 23.8 | · | 22.9 | 41.1 | 41.8 | · | 24.9 | 16.3 | 20.1 | · | 23.8 | |
| P/S | 2.8 | 3.0 | · | 2.9 | 2.9 | 2.5 | · | 2.1 | 1.8 | 1.9 | · | 1.8 | 1.7 | 1.8 | · | 1.9 | |
| P/B | 1.8 | 1.9 | · | 1.8 | 1.9 | 2.0 | · | 1.6 | 1.4 | 1.4 | · | 1.7 | 1.7 | 1.9 | · | 1.8 | |
| P / Tangible Book | 1.9 | 2.0 | · | 2.0 | 2.1 | 2.2 | · | 1.8 | 1.6 | 1.6 | · | 2.0 | 2.0 | 2.2 | · | 2.0 | |
| P / Cash Flow | · | 42.2 | · | · | · | 35.1 | · | · | · | 36.6 | · | · | · | 31.8 | · | · | |
| EV / Revenue | 5.5 | 5.6 | · | 5.5 | 5.6 | 5.4 | · | 4.9 | 4.6 | 4.5 | · | 4.1 | 3.7 | 3.7 | · | 3.8 | |
| Dividend Yield | 2.9% | 2.6% | · | 2.5% | 2.5% | 2.9% | · | 3.5% | 4.0% | 3.8% | · | 3.3% | 3.2% | 2.9% | · | 3.0% | |
| Earnings Yield | 3.2% | 2.4% | · | 3.0% | 3.4% | 4.2% | · | 4.4% | 2.4% | 2.4% | · | 4.0% | 6.1% | 5.0% | · | 4.2% | |
| Payout Ratio | · | 576.5% | · | · | · | 296.1% | · | · | · | 69.7% | · | · | · | 52.6% | · | · | |
| Annual Payout | $181M | $172M | · | $154M | $146M | $143M | · | $137M | $134M | $130M | · | $125M | $123M | $122M | · | $118M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenue | $2.17B | · | · | $1.97B | · |
| Operating Margin % | 20.4% | · | · | 23.0% | · |
| Net Income | $170M | · | · | $259M | · |
| Diluted EPS | $1.48 | · | · | $2.67 | · |
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Debt / Equity | 1.6 | · | · | 2.2 | · |
| Current Ratio | 0.6 | · | · | 0.3 | · |
| Quick Ratio | 0.2 | · | · | 0.1 | · |
| Metric | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Free Cash Flow | $-611M | · | · | $-739M | · |
Institutional owners (13F) 409 filers · $7.0B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
409
Value held
$7.0B
New positions
50
Exited positions
36
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 50 (-5 vs prior Q) | 36 (+2 vs prior Q) | 150 (+7 vs prior Q) | 117 (+4 vs prior Q) | +11.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $828,751,664 | 14,595,837 | 11.84% | Shares |
| VANGUARD GROUP INC | $700,631,255 | 11,899,308 | 10.01% | Shares |
| Blackstone Inc. | $454,240,000 | 8,000,000 | 6.49% | Shares |
| Balyasny Asset Management L.P. | $403,879,604 | 7,113,061 | 5.77% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $382,708,329 | 6,740,196 | 5.47% | Shares |
| Pentwater Capital Management LP | $368,360,250 | 6,487,500 | 5.26% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $274,944,602 | 4,842,279 | 3.93% | Shares |
| STATE STREET CORP | $234,215,683 | 4,124,968 | 3.34% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $170,166,058 | 2,996,464 | 2.43% | Shares |
| MILLENNIUM MANAGEMENT LLC | $140,292,535 | 2,470,809 | 2.00% | Shares |
| NORGES BANK | $128,590,915 | 2,264,722 | 1.84% | Shares |
| GOLDMAN SACHS GROUP INC | $125,273,948 | 2,206,304 | 1.79% | Shares |
| Qube Research & Technologies Ltd | $118,343,885 | 2,084,253 | 1.69% | Shares |
| AQR Arbitrage LLC | $102,910,514 | 1,812,443 | 1.47% | Shares |
| MORGAN STANLEY | $89,902,874 | 1,583,353 | 1.28% | Shares |
| Magnetar Financial LLC | $82,229,932 | 1,448,220 | 1.17% | Shares |
| Melqart Asset Management (UK) Ltd | $77,802,454 | 1,370,244 | 1.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $77,672,177 | 1,328,638 | 1.11% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $71,672,542 | 1,262,285 | 1.02% | Shares |
| NORTHERN TRUST CORP | $68,645,203 | 1,208,968 | 0.98% | Shares |
| Invesco Ltd. | $68,352,218 | 1,203,808 | 0.98% | Shares |
| Verition Fund Management LLC | $68,312,529 | 1,203,109 | 0.98% | Shares |
| Governors Lane LP | $61,275,273 | 1,079,170 | 0.88% | Shares |
| LMR Partners LLP | $53,571,249 | 943,488 | 0.77% | Shares |
| GABELLI FUNDS LLC | $53,005,322 | 933,521 | 0.76% | Shares |
| HSBC HOLDINGS PLC | $50,712,733 | 889,385 | 0.72% | Shares |
| MARSHALL WACE, LLP | $50,531,703 | 889,956 | 0.72% | Shares |
| Hudson Bay Capital Management LP | $50,422,457 | 888,032 | 0.72% | Shares |
| Empyrean Capital Partners, LP | $46,136,816 | 812,554 | 0.66% | Shares |
| NEXPOINT ASSET MANAGEMENT, L.P. | $46,053,690 | 811,090 | 0.66% | Shares |
| UBS Group AG | $45,595,192 | 803,015 | 0.65% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $44,952,953 | 791,704 | 0.64% | Shares |
| Alberta Investment Management Corp | $44,934,954 | 791,387 | 0.64% | Shares |
| GAMCO INVESTORS, INC. ET AL | $42,388,768 | 746,544 | 0.61% | Shares |
| Bank of New York Mellon Corp | $42,214,435 | 743,474 | 0.60% | Shares |
| WATER ISLAND CAPITAL LLC | $41,888,537 | 737,734 | 0.60% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $39,120,512 | 688,984 | 0.56% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $37,836,318 | 666,367 | 0.54% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $36,654,783 | 645,558 | 0.52% | Shares |
| TWO SIGMA INVESTMENTS, LP | $34,582,995 | 609,070 | 0.49% | Shares |
| FIRST TRUST ADVISORS LP | $31,195,196 | 549,405 | 0.45% | Shares |
| Sand Grove Capital Management LLP | $28,761,682 | 506,546 | 0.41% | Shares |
| HBK INVESTMENTS L P | $27,534,780 | 484,938 | 0.39% | Shares |
| ALPINE ASSOCIATES MANAGEMENT INC. | $24,606,635 | 433,368 | 0.35% | Shares |
| Squarepoint Ops LLC | $24,468,603 | 430,937 | 0.35% | Shares |
| Legal & General Group Plc | $24,247,674 | 427,046 | 0.35% | Shares |
| Weiss Asset Management LP | $23,365,708 | 411,513 | 0.33% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $22,432,472 | 395,077 | 0.32% | Shares |
| GABELLI & Co INVESTMENT ADVISERS, INC. | $22,237,092 | 391,636 | 0.32% | Shares |
| Calamos Advisors LLC | $21,615,351 | 380,686 | 0.31% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Troy TopCo LP, Troy GP LLC, BIP Holdings Manager L.L.C., Blackstone Infrastructure Associates L.P., BIA GP L.P., BIA GP L.L.C., Blackstone Holdings II L.P., Blackstone Holdings I/II GP L.L.C., Blackstone Inc., Blackstone Group Management L.L.C., Stephen A. Schwarzman | May 23, 2025 | 7.90% | Initial filing | M&A / sale | SEC |
| Gabelli Funds, LLC I.D. No ., GAMCO Asset Management Inc. I.D. No ., Gabelli & Company Investment Advisers, Inc. I.D. No ., MJG Associates, Inc. I.D. No ., GGCP, Inc. I.D. No ., GAMCO Investors, Inc. I.D. No ., Associated Capital Group, Inc. I.D. No., Mario J. Gabelli ×4 filings | July 5, 2022 | · | Initial filing | · | SEC |
| Gabelli Funds, LLC I.D. No., GAMCO Asset Management Inc. I.D. No., GGCP, Inc. I.D. No., GAMCO Investors, Inc. I.D. No., Associated Capital Group, Inc. I.D. No., Mario J. Gabelli ×5 filings | Jan. 10, 2020 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 49 insiders · 25 officers · 24 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joseph Don Tarry | President and CEO | March 7, 2026 M | 58,223 | 0 | 0 | $0 |
| Henry E Monroy | SVP and CFO | March 7, 2026 M | 9,382 | 0 | 0 | $0 |
| Elisabeth A Eden | SVP & CFO | March 7, 2025 M | 21,921 | 0 | 0 | $0 |
| Terry R Horn | SR. VP, CORP SECY & A/CFO | Feb. 13, 2006 A | 7,134 | 0 | 0 | $0 |
| John R Loyack | SR VP AND CFO | Aug. 3, 2005 M | 6,806 | 0 | 0 | $0 |
| Ronald E Talbot | SR VP, CHIEF OPERATING OFFICER | March 6, 2016 M | 31,404 | 0 | 0 | $0 |
| FLYNN ROGER J | EXEC VP AND COO | March 24, 2004 A | 6,210 | 0 | 0 | $0 |
| Gerald R Bischoff | VP and Corporate Controller | March 7, 2026 M | 1,779 | 0 | 0 | $0 |
| Brian Iverson | Gen Couns, SVP Reg-Pub Policy | March 7, 2026 M | 9,119 | 0 | 0 | $0 |
| Monique Jacobson | SVP, Corporate Services | March 3, 2026 A | 360 | 0 | 0 | $0 |
| Patrick V Apodaca | SVP, GEN COUNSEL & SECY | Aug. 2, 2024 M | 95,454 | 0 | 0 | $0 |
| Ronald N. Darnell | SVP, PUBLIC POLICY | March 7, 2023 M | 42,658 | 0 | 0 | $0 |
| Charles N Eldred | EVP Corp Development & Finance | May 13, 2022 A | 140,338 | 0 | 0 | $0 |
| Chris M Olson | SVP, UTILITY OPERATIONS | March 7, 2022 M | 21,117 | 0 | 0 | $0 |
| Thomas G Sategna | VP AND CORP CNTRL | March 12, 2015 M | 0 | 0 | 0 | $0 |
| Alice A Cobb | SR VP, CAO | Nov. 9, 2011 M | 45,920 | 0 | 0 | $0 |
| James E Ferland Jr | SR VP, UTILITY OPS | Feb. 26, 2010 A | 26,325 | 0 | 0 | $0 |
| ORTIZ PATRICK T | SVP, GEN COUNSEL & SECY | Dec. 22, 2009 A | 51,591 | 0 | 0 | $0 |
| Cynthia E Mcgill | SR. VP, CORP STRAT & PUB POL | Feb. 19, 2008 A | 17,524 | 0 | 0 | $0 |
| REAL WILLIAM J | SR VP, PUB POLICY | Aug. 21, 2007 S | 10,330 | 0 | 0 | $0 |
| William Douglas Hobbs | SR. VP, CUST & DEL SRV | March 21, 2007 M | 12,124 | 0 | 0 | $0 |
| Hugh W Smith | SR VP, ENERGY RES | Feb. 16, 2007 A | 21,220 | 0 | 0 | $0 |
| Jeffrey D Shorter | SR. VP, PNM RES. | Feb. 13, 2006 A | 5,000 | 0 | 0 | $0 |
| Edward Padilla JR | SR VP, CUST & DEL SRV | June 1, 2005 A | 12,777 | 0 | 0 | $0 |
| MAERKI MAX H | SR VP, CORP STRAT | Feb. 16, 2004 A | 2,225 | 0 | 0 | $0 |
| Steven Maestas | Director | June 10, 2026 A | 8,992 | 0 | 0 | $0 |
| Lillian J Montoya | Director | June 10, 2026 A | 8,992 | 0 | 0 | $0 |
| Norman P. Becker | Director | June 10, 2026 A | 30,802 | 0 | 0 | $0 |
| Sidney M. Gutierrez | Director | June 10, 2026 A | 32,135 | 0 | 0 | $0 |
| Vicky A Bailey | Director | June 10, 2026 A | 11,692 | 0 | 1 | $-103,932 |
| James Alton Hughes | Director | June 10, 2026 A | 22,217 | 0 | 0 | $0 |
| Maureen T Mullarkey | Director | June 10, 2026 A | 34,487 | 0 | 0 | $0 |
| Renae E Conley | Director | June 10, 2026 A | 39,971 | 0 | 0 | $0 |
| Alan J Fohrer | Director | June 4, 2024 A | 37,975 | 0 | 0 | $0 |
| SCHWANZ DONALD K | Director | May 9, 2023 A | 11,007 | 0 | 0 | $0 |
| Bruce W Wilkinson | Director | May 12, 2020 A | 52,079 | 0 | 0 | $0 |
| Robert R Nordhaus | Director | May 17, 2016 M | 23,318 | 0 | 0 | $0 |
| Adelmo E Archuleta | Director | May 17, 2016 M | 32,404 | 0 | 0 | $0 |
| Joan B Woodard | Director | May 12, 2015 M | 26,503 | 0 | 0 | $0 |
| Julie A Dobson | Director | May 15, 2014 M | 29,030 | 0 | 0 | $0 |
| Bonnie S Reitz | Director | May 15, 2014 M | 11,580 | 0 | 0 | $0 |
| Manuel T Pacheco | Director | May 15, 2012 A | 18,513 | 0 | 0 | $0 |
| STERBA JEFFRY E | Director | May 17, 2011 A | 227,596 | 0 | 0 | $0 |
| PRICE ROBERT M | Director | May 19, 2009 A | 10,400 | 0 | 0 | $0 |
| Woody L Hunt | Director | May 28, 2008 A | 6,850 | 0 | 0 | $0 |
| Charles E Mcmahen | Director | May 22, 2007 A | 9,200 | 0 | 0 | $0 |
| ARMSTRONG ROBERT G | Director | March 31, 2006 M | 9,840 | 0 | 0 | $0 |
| CHAVEZ R. MARTIN | Director | May 18, 2004 A | 1,427 | 0 | 0 | $0 |
| VINCENT PATRICIA K | · | Aug. 14, 2026 A | 776,472 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 54 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| XMLV · Invesco Exchange-Traded Fund Trust … | 5.62% | 663,100 SH | Oct. 2, 2026 | Daily |
| VRAI · ETFis Series Trust I | 1.07% | 3,442 NS | July 31, 2026 | N-PORT |
| ZAP · Global X Funds | 0.65% | 51,915 NS | July 31, 2026 | N-PORT |
| HDUS · Lattice Strategies Trust | 0.62% | 21,696 NS | July 31, 2026 | N-PORT |
| QLV · FlexShares Trust | 0.48% | 13,692 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.38% | 90,619 SH | Aug. 19, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 0.37% | 148,552 NS | July 31, 2026 | N-PORT |
| VPU · VANGUARD WORLD FUND | 0.35% | 671,095 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.31% | 150,553 SH | Sept. 11, 2026 | Daily |
| PAMC · Pacer Funds Trust | 0.27% | 2,522 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.25% | 3,749 NS | July 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 24,147 NS | July 31, 2026 | N-PORT |
| POWR · iShares, Inc. | 0.23% | 18,259 SH | Sept. 11, 2026 | Daily |
| SMDX · Tidal Trust III | 0.23% | 5,180 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.21% | 2,787,484 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.19% | 49,929 NS | July 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.19% | 50,464 SH | Aug. 19, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.19% | 13,201 SH | Oct. 2, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.18% | 378 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.18% | 599,857 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.16% | 10,856 NS | July 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.15% | 160,789 SH | Aug. 19, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.13% | 1,610,853 SH | Aug. 19, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 44,578 NS | July 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.12% | 1,463 NS | July 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.12% | 40,308 SH | Aug. 19, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.09% | 20,191 SH | Oct. 2, 2026 | Daily |
| ISCG · iShares Trust | 0.08% | 13,921 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.08% | 2,537,634 SH | Aug. 19, 2026 | Daily |
| HDV · iShares Trust | 0.08% | 202,524 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.06% | 1,144,285 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.05% | 6,268 SH | Sept. 11, 2026 | Daily |
| DGRO · iShares Trust | 0.04% | 277,349 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 1,060 SH | Oct. 1, 2026 | Daily |
| VIG · VANGUARD SPECIALIZED FUNDS | 0.02% | 562,894 SH | Aug. 19, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.02% | 407,138 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 5,524 NS | July 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.01% | 22,318 SH | Oct. 1, 2026 | Daily |
| IUSV · iShares Trust | 0.01% | 55,333 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.01% | 3,515,440 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.01% | 8,545 SH | Aug. 19, 2026 | Daily |
| IWV · iShares Trust | 0.01% | 29,796 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 139,079 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.01% | 4,191 SH | Sept. 11, 2026 | Daily |
| IUSG · iShares Trust | 0.01% | 35,836 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 74,809 SH | Aug. 19, 2026 | Daily |
| IJH · iShares Trust | · | 3,760,135 SH | Sept. 11, 2026 | Daily |
| IJK · iShares Trust | · | 254,726 SH | Sept. 11, 2026 | Daily |
| IJJ · iShares Trust | · | 322,588 SH | Sept. 3, 2026 | Daily |
| IWN · iShares Trust | · | 1,034,058 SH | Sept. 11, 2026 | Daily |
| IFRA · iShares Trust | · | 133,764 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 4,558 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 12,802 SH | Sept. 11, 2026 | Daily |
| SMMV · iShares Trust | · | 26,234 SH | Sept. 1, 2026 | Daily |
TXNM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$61.00
+4.4%
2 18.2%
Strong Buy
4 36.4%
Buy
5 45.5%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-09-30Mean target $60.70 +3.9%
← Below all targets
Current price $58.41
Low$59.00
Mean$60.70
High$61.25
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TXNM | $6.41B | 39.8 | 9.9% | 7.8% | 5.7% | · |
| PNW | · | 17.6 | 4.2% | 11.8% | 9.2% | · |
| OGE | $8.80B | 18.4 | 9.2% | 14.4% | 9.8% | · |
| IDA | · | 21.5 | -1.2% | 18.5% | 9.4% | · |
| OKLO | $11.52B | -99.7 | · | · | -9.7% | · |
| POR | $5.55B | 17.3 | 4.0% | 8.6% | 7.7% | · |
| OTTR | $3.39B | 12.3 | -2.3% | 21.2% | 15.2% | · |
| MGEE | $2.87B | 21.1 | · | -402.1% | 10.6% | · |
| HE | $2.12B | 17.3 | -4.1% | 4.1% | 8.0% | · |
| NEE | $167.22B | 24.3 | 9.8% | 26.5% | 13.1% | · |
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Source: SEC 10-Q filed Jul 31, 2026