TX
TXNM Energy Inc
TXNM—
TXNM Energy Inc AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM is -642M due to 1.2B capex (58% of revenue) - heavy infrastructure investment phase consuming all operating cash[Free Cash Flow TTM]
- Debt/equity of 1.67 with interest expense (265M TTM) exceeding net income (177M) - leverage straining profitability[Debt to Equity]
- P/E of 38.9 vs industry median 20.2 despite negative 3Y EPS growth (-10.8%) - premium pricing growth not delivered[P/E Ratio]
Watch Triggers
- Free Cash Flow TTM: Turns positive for 2 consecutive quarters — Signals capex cycle completion and self-funding capability
- Interest Expense TTM: Exceeds 300M or rises >15% YoY — 5.7B debt at rising rates could eliminate earnings entirely
- ROIC TTM: Rises above 4% (toward industry median 3.6%) — Validates that capex is generating adequate returns on invested capital
Bull Case
Gross margin of 62.7% vs industry median 42.3% indicates strong cost pass-through and rate structure advantages in regulated markets
Gross Margin TTMOperating Margin TTM
Dividend yield of 2.7% (1.61/share TTM) above industry median 1.09 provides income floor while capex cycle plays out
Dividends Paid Per Share TTMCash Flow TTM
Bear Case
Interest expense of 265M TTM consumes 149% of net income - any rate increases or refinancing stress directly impairs earnings
Interest Expense TTMNet Income TTMTotal Debt
EPS declining -10.8% over 3Y while P/E at 38.9 (1.9x industry median) - multiple compression risk if growth doesn't materialize
EPS Growth 3YP/E Ratio
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Capex cycle completion should flip FCF positive within 18-24 months as rate base grows
1-3ymed
- 1.2B annual capex vs 585M operating cash flow TTM
- Regulated utility model allows rate recovery on invested capital
- PPE of 9.4B (78% of assets) generating future earnings
Capex TTM 1.2B vs industry median 1.2BOperating margin 20% in line with utility peersROIC 2.1% suggests early-stage capital deployment
Valuation Context
Caveats
Public Strategies Rankings
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TXNM Fundamentals
Utilities → Utilities
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$6.35B | — | ||
$12.03B | — | ||
39 | — | ||
$2.11B | +10.6% | — | |
$1.52 | -29.6% | — | |
20.0% | -1.4% | — | |
8.41% | -0.9% | — | |
$-642.21M | — | ||
0.06 | -1.5% | — | |
Beta 5Y (Monthly) | unknown | — |
TXNM Dividend History
105 dividends
2026
$0.422501/30/26$0.4225
2025
$1.630010/24/25$0.4075
08/08/25$0.4075
04/25/25$0.4075
01/31/25$0.4075
2024
$1.550010/28/24$0.3875
07/26/24$0.3875
04/25/24$0.3875
02/01/24$0.3875
2023
$1.470010/26/23$0.3675
08/10/23$0.3675
04/27/23$0.3675
02/02/23$0.3675
2022
$1.390010/26/22$0.3475
08/16/22$0.3475
04/28/22$0.3475
02/11/22$0.3475
2021
$1.310010/29/21$0.3275
08/05/21$0.3275
04/29/21$0.3275
02/02/21$0.3275
2020
$1.230010/30/20$0.3075
08/06/20$0.3075
04/30/20$0.3075
01/31/20$0.3075
2019
$1.160010/31/19$0.2900
08/05/19$0.2900
05/01/19$0.2900
01/31/19$0.2900
2018
$1.060011/01/18$0.2650
08/03/18$0.2650
05/01/18$0.2650
01/17/18$0.2650
2017
$0.970010/27/17$0.2425
08/03/17$0.2425
04/27/17$0.2425
01/19/17$0.2425
2016
$0.880010/27/16$0.2200
08/04/16$0.2200
04/06/16$0.2200
01/21/16$0.2200
2015
$0.800010/29/15$0.2000
07/30/15$0.2000
04/08/15$0.2000
01/26/15$0.2000
2014
$0.740010/29/14$0.1850
07/30/14$0.1850
04/15/14$0.1850
01/21/14$0.1850
2013
$0.640011/04/13$0.1650
07/31/13$0.1650
04/17/13$0.1650
01/17/13$0.1450
2012
$0.560010/31/12$0.1450
07/30/12$0.1450
03/30/12$0.1450
01/23/12$0.1250
2011
$0.500010/28/11$0.1250
07/28/11$0.1250
04/01/11$0.1250
01/24/11$0.1250
2010
$0.500010/27/10$0.1250
07/29/10$0.1250
03/31/10$0.1250
01/25/10$0.1250
2009
$0.500011/02/09$0.1250
07/29/09$0.1250
04/06/09$0.1250
01/21/09$0.1250
2008
$0.710010/29/08$0.1250
08/19/08$0.1250
04/07/08$0.2300
01/30/08$0.2300
2007
$0.910010/30/07$0.2300
07/30/07$0.2300
04/27/07$0.2300
01/30/07$0.2200
2006
$0.860010/30/06$0.2200
07/28/06$0.2200
04/27/06$0.2200
01/30/06$0.2000
2005
$0.770010/28/05$0.2000
07/28/05$0.2000
04/28/05$0.1850
01/28/05$0.1850
2004
$0.633310/28/04$0.1600
07/29/04$0.1600
04/29/04$0.1600
01/29/04$0.1533
2003
$0.606610/30/03$0.1533
07/30/03$0.1533
04/30/03$0.1533
01/30/03$0.1467
2002
$0.573410/31/02$0.1467
07/31/02$0.1467
04/30/02$0.1467
01/31/02$0.1333
2001
$0.533210/31/01$0.1333
07/31/01$0.1333
04/30/01$0.1333
01/31/01$0.1333
2000
$0.533210/31/00$0.1333
07/31/00$0.1333
04/28/00$0.1333
01/28/00$0.1333
TXNM Stock Splits
1 stock split
06/14/042:3 split
TXNM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/31/25 | 09/30/25 | 10-Q | |
08/01/25 | 06/30/25 | 10-Q | |
05/09/25 | 03/31/25 | 10-Q | |
02/28/25 | 12/31/24 | 10-K | |
11/01/24 | 09/30/24 | 10-Q | |
08/02/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/29/24 | 12/31/23 | 10-K | |
10/27/23 | 09/30/23 | 10-Q | |
08/04/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/28/23 | 12/31/22 | 10-K | |
11/04/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
03/01/22 | 12/31/21 | 10-K | |
10/29/21 | 09/30/21 | 10-Q | |
07/30/21 | 06/30/21 | 10-Q | |
04/30/21 | 03/31/21 | 10-Q | |
03/01/21 | 12/31/20 | 10-K | |
10/30/20 | 09/30/20 | 10-Q | |
07/31/20 | 06/30/20 | 10-Q | |
05/01/20 | 03/31/20 | 10-Q | |
03/02/20 | 12/31/19 | 10-K | |
11/01/19 | 09/30/19 | 10-Q | |
08/02/19 | 06/30/19 | 10-Q | |
05/07/19 | 03/31/19 | 10-Q | |
03/01/19 | 12/31/18 | 10-K | |
11/06/18 | 09/30/18 | 10-Q | |
07/31/18 | 06/30/18 | 10-Q | |
04/30/18 | 03/31/18 | 10-Q | |
03/01/18 | 12/31/17 | 10-K | |
10/27/17 | 09/30/17 | 10-Q | |
07/28/17 | 06/30/17 | 10-Q | |
04/28/17 | 03/31/17 | 10-Q | |
02/28/17 | 12/31/16 | 10-K | |
10/28/16 | 09/30/16 | 10-Q | |
08/09/16 | 06/30/16 | 10-Q | |
05/02/16 | 03/31/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
10/30/15 | 09/30/15 | 10-Q | |
07/31/15 | 06/30/15 | 10-Q | |
05/01/15 | 03/31/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
10/31/14 | 09/30/14 | 10-Q | |
08/01/14 | 06/30/14 | 10-Q | |
05/02/14 | 03/31/14 | 10-Q | |
02/28/14 | 12/31/13 | 10-K | |
11/01/13 | 09/30/13 | 10-Q | |
08/02/13 | 06/30/13 | 10-Q | |
05/06/13 | 03/31/13 | 10-Q | |
03/01/13 | 12/31/12 | 10-K | |
11/02/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/04/11 | 09/30/11 | 10-Q | |
08/09/11 | 06/30/11 | 10-Q | |
05/06/11 | 03/31/11 | 10-Q | |
03/01/11 | 12/31/10 | 10-K | |
11/03/10 | 09/30/10 | 10-Q | |
08/09/10 | 06/30/10 | 10-Q | |
05/07/10 | 03/31/10 | 10-Q | |
03/01/10 | 12/31/09 | 10-K | |
11/02/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/06/09 | 03/31/09 | 10-Q | |
12/31/08 | 12/31/08 | ARS | |
11/05/08 | 09/30/08 | 4 | |
08/14/08 | 06/30/08 | 10-Q | |
05/07/08 | 03/31/08 | 8-K | |
02/29/08 | 12/31/07 | 10-K | |
11/08/07 | 09/30/07 | 8-K | |
08/14/07 | 06/30/07 | 8-K | |
05/10/07 | 03/31/07 | 8-K | |
03/01/07 | 12/31/06 | 8-K | |
11/09/06 | 09/30/06 | 8-K | |
08/09/06 | 06/30/06 | 8-K | |
05/10/06 | 03/31/06 | 4 | |
03/14/06 | 12/31/05 | 8-K | |
11/03/05 | 09/30/05 | 8-K | |
08/09/05 | 06/30/05 | 4 | |
05/04/05 | 03/31/05 | 10-Q | |
03/01/05 | 12/31/04 | 8-K | |
11/04/04 | 09/30/04 | 8-K | |
08/05/04 | 06/30/04 | 8-K | |
05/07/04 | 03/31/04 | 8-K | |
03/10/04 | 12/31/03 | 4 | |
11/13/03 | 09/30/03 | 8-K | |
08/11/03 | 06/30/03 | 8-K | |
05/15/03 | 03/31/03 | 10-Q | |
03/18/03 | 12/31/02 | 8-K | |
11/12/02 | 09/30/02 | 8-K | |
08/14/02 | 06/30/02 | 8-K | |
05/15/02 | 03/31/02 | 8-K | |
03/26/02 | 12/31/01 | S-8 POS | |
09/30/01 | 09/30/01 | Unknown | -- |
06/30/01 | 06/30/01 | Unknown | -- |
03/31/01 | 03/31/01 | Unknown | -- |
12/31/00 | 12/31/00 | U-3A-2 | |
09/30/00 | 09/30/00 | Unknown | -- |
06/30/00 | 06/30/00 | Unknown | -- |
03/31/00 | 03/31/00 | Unknown | -- |