TXNM Energy, Inc. (TXNM) Key Metrics
TXNM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.44B
- Enterprise value
- $12.36B
- P/E (TTM)
- 33.6 10-yr median 24.7
- Forward P/E
- 18.0
- PEG ratio
- 2.55
- Price / sales
- 2.9 10-yr median 2.3
- Price / book
- 1.8 10-yr median 1.8
- EV / EBITDA
- 12.2 10-yr median 11.7
- Dividend yield
- 2.89% $1.69 a year
- Beta
- 0.17
TXNM key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTXNM valuation Price multiples at each fiscal year-end price.
TXNM returns How much profit the business earns on the capital it uses.
TXNM per-share figures Results divided by the shares outstanding at year-end.
TXNM financial health Debt, liquidity and how easily interest is covered.
TXNM efficiency & capital use Working capital cycle and where the cash goes.
TXNM valuation history
TXNM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TXNM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TXNM cash returned to shareholders
TXNM price vs earnings per share
TXNM key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $6.03B | $4.45B | $3.59B | $4.20B | $3.93B | $3.90B | $4.07B |
| Enterprise value | $6.03B | $10.28B | $8.58B | $8.59B | $7.79B | $7.31B | $7.40B |
| P/E ratio | 39.8 | 18.4 | 40.7 | 24.7 | 20.0 | 22.5 | 52.3 |
| Price / sales | 2.8 | 2.3 | 1.9 | 1.9 | 2.2 | 2.6 | 2.8 |
| Price / book | 1.8 | 1.7 | 1.5 | 1.9 | 1.8 | 1.9 | 2.4 |
| Price / operating cash flow | 10.3 | 8.8 | 6.5 | 7.4 | 7.2 | 8.0 | 8.1 |
| EV / sales | 2.8 | 5.2 | 4.4 | 3.8 | 4.4 | 4.8 | 5.1 |
| EV / EBITDA | 6.0 | 11.1 | 13.7 | 12.6 | 11.7 | 11.4 | 15.0 |
| Earnings yield | 2.5% | 5.4% | 2.5% | 4.0% | 5.0% | 4.4% | 1.9% |
| Free cash flow yield | −10.1% | −16.6% | −14.6% | −8.2% | −9.9% | −5.0% | −2.8% |
| Dividend yield | 2.7% | 3.2% | 3.5% | 2.9% | 2.9% | 2.5% | 2.3% |
| Shareholder yield (dividends + buybacks) | 2.9% | 3.3% | 3.8% | 3.0% | 3.1% | 2.8% | 2.5% |
| Share price at fiscal year-end | $58.88 | $49.17 | $41.60 | $48.79 | $45.61 | $48.53 | $50.71 |
| Per share | |||||||
| Revenue per share | $21.15 | $21.76 | $22.45 | $26.11 | $20.67 | $18.96 | $18.15 |
| Earnings per share | $1.48 | $2.68 | $1.02 | $1.97 | $2.28 | $2.16 | $0.97 |
| Operating cash flow per share | $5.71 | $5.61 | $6.38 | $6.58 | $6.36 | $6.05 | $6.27 |
| Free cash flow per share | −$5.97 | −$8.16 | −$6.07 | −$4.01 | −$4.50 | −$2.41 | −$1.41 |
| Cash per share | $0.02 | $0.05 | $0.03 | $0.05 | $0.01 | $0.60 | $0.05 |
| Book value per share | $33.24 | $28.13 | $27.33 | $25.57 | $25.31 | $25.67 | $21.05 |
| Tangible book value per share | $30.53 | $25.05 | $24.11 | $22.34 | $22.07 | $22.20 | $17.58 |
| Dividends per share | $1.60 | $1.55 | $1.47 | $1.39 | $1.31 | $1.23 | $1.16 |
| Capex per share | $11.68 | $13.77 | $12.46 | $10.59 | $10.86 | $8.46 | $7.67 |
| Debt per share | $0.03 | $64.33 | $57.76 | $50.98 | $44.90 | $43.04 | $41.54 |
| Shares outstanding | 102.4M | 90.6M | 86.4M | 86.2M | 86.1M | 80.3M | 80.3M |
| Change in shares outstanding | +13.0% | +4.9% | +0.2% | +0.1% | +7.2% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | 5.1% | 9.9% | 3.9% | 7.8% | 9.3% | 9.2% | 4.6% |
| Return on invested capital (ROIC) | 7.1% | 5.4% | 4.4% | 5.5% | 4.7% | 4.9% | 5.9% |
| Return on assets (ROA) | 1.9% | 2.2% | 0.9% | 1.8% | 2.3% | 2.2% | 1.0% |
| Return on tangible assets | 3.7% | 2.2% | 0.9% | 1.8% | 2.2% | 2.2% | 1.1% |
| Free cash flow margin | −28.2% | −37.5% | −27.1% | −15.3% | −21.8% | −12.7% | −7.8% |
| Income quality (OCF / net income) | 3.86 | 2.09 | 6.24 | 3.34 | 2.79 | 2.80 | 6.46 |
| Financial health | |||||||
| Total debt | $2.6M | $5.83B | $4.99B | $4.39B | $3.87B | $3.46B | $3.34B |
| Cash & short-term investments | $1.6M | $4.5M | $2.2M | $4.1M | $1.1M | $47.9M | $3.8M |
| Net debt | $982,000 | $5.82B | $4.99B | $4.39B | $3.87B | $3.41B | $3.33B |
| Debt / equity | 0.00 | 2.29 | 2.11 | 1.99 | 1.77 | 1.68 | 1.97 |
| Debt / assets | 0.00 | 0.50 | 0.47 | 0.46 | 0.43 | 0.41 | 0.43 |
| Net debt / EBITDA | 0.00 | 6.27 | 7.94 | 6.43 | 5.82 | 5.33 | 6.73 |
| Current ratio | 0.19 | 0.28 | 0.39 | 0.46 | 0.49 | 0.39 | 0.30 |
| Quick ratio | −2.53 | 0.19 | 0.31 | 0.39 | 0.39 | 0.32 | 0.22 |
| Interest coverage | 1.3 | 2.0 | 1.6 | 3.1 | 3.2 | 2.5 | 2.4 |
| Working capital | −$54.2M | −$1.28B | −$755.2M | −$479.4M | −$339.6M | −$600.2M | −$673.5M |
| Invested capital | $3.40B | $8.37B | $7.35B | $6.59B | $6.04B | $5.47B | $5.02B |
| Tangible asset value | $3.11B | $2.32B | $2.13B | $1.98B | $1.96B | $1.84B | $1.47B |
| Net current asset value | −$941.4M | −$8.45B | −$7.70B | −$6.96B | −$6.46B | −$5.84B | −$5.65B |
| Graham number | $33.25 | $41.17 | $25.08 | $33.70 | $36.03 | $35.30 | $21.43 |
| Graham net-net per share | −$7.30 | −$95.84 | −$91.75 | −$82.74 | −$76.58 | −$74.51 | −$71.94 |
| Capital allocation | |||||||
| Dividends paid | $163.4M | $140.3M | $126.7M | $119.8M | $113.0M | $98.5M | $92.9M |
| Share buybacks (net) | $12.0M | $8.5M | $9.6M | $8.0M | $10.1M | $12.0M | $9.9M |
| Dividend payout ratio | 107.9% | 57.8% | 143.4% | 70.5% | 57.5% | 56.8% | 119.3% |
| Capex / revenue | 55.2% | 63.3% | 55.5% | 40.6% | 52.5% | 44.6% | 42.3% |
| Capex / operating cash flow | 204.6% | 245.4% | 195.2% | 160.9% | 170.7% | 139.8% | 122.5% |
| Capex / depreciation | 2.47 | 2.95 | 3.04 | 2.68 | 2.92 | 2.16 | 2.05 |
| Stock-based compensation / revenue | 0.4% | 0.5% | 0.4% | 0.3% | 0.5% | 0.5% | 0.4% |
| SG&A / revenue | 12.7% | 12.5% | 11.8% | 10.1% | 13.1% | 14.7% | 4.8% |
| Efficiency | |||||||
| Days sales outstanding | 33.4 | 48.0 | 51.1 | 38.5 | 41.3 | 43.0 | 40.2 |
| Days of inventory on hand | 47.4 | 41.6 | 22.9 | 15.7 | 20.8 | 28.1 | 31.9 |
| Days payables outstanding | 60.9 | 64.4 | 58.5 | 46.2 | 54.1 | 53.0 | 42.2 |
| Cash conversion cycle (days) | 19.9 | 25.2 | 15.5 | 8.0 | 8.1 | 18.1 | 29.9 |
| Receivables turnover | 10.93 | 7.61 | 7.14 | 9.48 | 8.83 | 8.49 | 9.09 |
| Payables turnover | 5.99 | 5.67 | 6.23 | 7.91 | 6.75 | 6.89 | 8.66 |
| Inventory turnover | 7.70 | 8.77 | 15.93 | 23.29 | 17.56 | 13.01 | 11.46 |
| Asset turnover | 0.27 | 0.18 | 0.19 | 0.24 | 0.21 | 0.19 | 0.19 |
| Average receivables | $198.1M | $259.0M | $271.7M | $237.3M | $201.5M | $179.4M | $160.4M |
| Average payables | $223.8M | $204.8M | $210.4M | $194.2M | $171.0M | $136.2M | $103.1M |
| Average inventory | $174.1M | $132.4M | $82.4M | $65.9M | $65.7M | $72.2M | $77.9M |
| Intangibles / total assets | 6.4% | 2.4% | 2.6% | 2.9% | 3.1% | 3.3% | 3.6% |
Computed from TXNM's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TXNM valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), TXNM Energy traded at 39.8 times earnings, against a 7-year median of 24.7. Based on the latest twelve months, the trailing P/E is 33.6 and the forward P/E is 18.0. TXNM Energy earned a return on equity of 5.1% and a return on invested capital of 7.1% in fiscal 2025. It ended the year with $2.6 million of debt and $1.6 million in cash and short-term investments, net debt of $1.0 million. It returned $175.3 million to shareholders: $163.4 million in dividends and $12.0 million in share buybacks. The share count rose 27.5% from 80.3M to 102.4M over 6 years.
See the TXNM income statement, the TXNM chart for price history, or the TXNM stock overview for the latest quote and news.
TXNM key metrics FAQ
What is TXNM Energy's P/E ratio?
TXNM Energy's trailing P/E ratio is 33.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.0. At the end of fiscal 2025 it was 39.8, compared with a 7-year median of 24.7.
What is TXNM Energy's EV/EBITDA?
TXNM Energy's enterprise value was 6.0 times EBITDA at the end of fiscal 2025 (enterprise value $6.0 billion, EBITDA $998.4 million); the current EV/EBITDA is 12.2.
What is TXNM Energy's return on equity?
TXNM Energy's return on equity (ROE) was 5.1% in fiscal 2025: net income of $151.4 million on average shareholders' equity of $3.0 billion.
What is TXNM Energy's ROIC?
TXNM Energy's return on invested capital was 7.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does TXNM Energy have?
TXNM Energy had total debt of $2.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and $1.0 million of net debt (0.00 times EBITDA).
What is TXNM Energy's dividend yield?
TXNM Energy's forward dividend yield is 2.89%. TXNM Energy paid $163.4 million in dividends in fiscal 2025 ($1.60 per share), a payout ratio of 107.9%.
Does TXNM Energy buy back its shares?
Yes. TXNM Energy spent $12.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +13.0% over the year, to 102.4M..
What is TXNM Energy's free cash flow yield?
TXNM Energy generated -$611.4 million of free cash flow in fiscal 2025, a free cash flow yield of −10.1% on its market value at year-end ($6.0 billion).
What is TXNM Energy's current ratio?
TXNM Energy's current ratio was 0.19 at the end of fiscal 2025: current assets were 0.19 times current liabilities.
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