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THE COMPANY Overview TXNM Energy, Inc. ( TXNM ), is a holding company with two regulated electric utilities, PNM and TNMP, serving approximately 842,000 residential, commercial, and industrial customers in New Mexico and Texas. Vision, Values and Business Objectives TXNM s vision is to create a clean and bright energy future while fulfilling its purpose to work together with customers and commu…
20.37% operating margin is above average. ROIC at 4.92%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 9.9%, steady but not accelerating. Margins contracted 2.6pp, which offsets some of the top-line progress.
Negative free cash flow of -$611M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$2.19B
▲ +9.9% YoY
Net Income (TTM)
$146M
▼ -37.5% YoY
Op. Margin
20.37%
▼ -2.6pp YoY
ROIC
4.92%
▼ -0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$570M
▲ +17.2% YoY
Op. Cash Flow (TTM)
$596M
▲ +15.0% YoY
Net Debt
$5.76B
Cash & Equiv.
$6M
5Y CAGR: +7.3%
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