TXNM Energy (TXNM) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

TXNM Energy

NYSE•Utilities•Utilities - Regulated Electric

$58.00-0.14(<0.01%)Market closed

Market Cap

$6.51B

P/E

30.4x

P/S

2.9x

P/B

1.8x

TXNM Energy, Inc., through its subsidiaries, provides electricity and electric services in the United States. The company engages in the generation, transmission, and distribution of electricity for retail electric customers; and owns and leases communications, office and other equipment, office space, vehicles, energy storage facilities, and real estate. It also provides regulated transmission and distribution services in Texas, as well as owns and leases vehicles, service facilities, and office locations throughout its service territory. It serves residential, commercial, and industrial customers and end-users of electricity in New Mexico and Texas. The company was formerly known as PNM Resources, Inc and changed its name to TXNM Energy, Inc. in August 2024. TXNM Energy, Inc. was founded in 1882 and is based in Albuquerque, New Mexico.

How this company scores

AverageMetricSide Score: 48/100

Strongest: Profitability (18/25); weakest: Cash & Earnings Quality (3/25).

Profitability18/25

Growth16/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality3/25

Strengths

Strong marginsConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 30.4x5y range 14.1x – 39.0x

Currently above its 20-quarter median.

P/S · 2.9x5y range 1.4x – 3.0x

Currently above its 20-quarter median.

P/B · 1.8x5y range 1.4x – 2.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 4 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $6.51B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.23B
Q. Revenue: $548.55M
TTM EBITDA: $1.24B
TTM Op. Income: $496.90M
Q. Op. Income: $123.30M
TTM Net Income: $214.41M
Q. Net Income: $75.39M
EPS: $0.64
Shares Out.: $111.18M

$2.23B in TTM revenue grew 10.0% YoY, reaching $548.55M last quarter. TTM EBITDA of $1.24B and TTM operating income of $496.90M show growth is flowing through to the bottom line. TTM net income of $214.41M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 45.7%
Op. Margin: 22.5%
Net Margin: 13.7%

Op. margin of 22.5% is up 8.0% YoY — cost efficiency is improving. Net margin at 13.7% Over the past year, operating margin is up 55% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 30.4x
P/S Ratio: 2.9x
P/B Ratio: 1.8x

At 30.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.9x and P/B of 1.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 10% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $12.51B
Cash: $14.59M
Long-Term Debt: $5.19B
Book Value: $3.55B
D/E Ratio: 1.5
Debt/EBITDA: 20.7

With $12.51B in assets and $5.19B in long-term debt, D/E is 1.5and book value is $3.55B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $69.83M
TTM Free Cash Flow: $-501.97M
FCF Margin: -22.5%
FCF / Net Income: -2.3

TTM FCF of $-501.97M on $69.83M in operating cash flow. The FCF / Net Income ratio of -2.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.