Read from its own SEC filings · nothing written, nothing inferred

Atmos Energy $ATO

🫧 Edgar looked up Atmos Energy Corp ($ATO). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-10. 11 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $4.7B (FY2025), total debt $9.0B. Experience: revenue up 12.9% on the year, up 8.4% a year over 4 years; operating margin 33.2%, up from 32.5%. Soundness: equity 48.0% of assets, return on equity 8.8%, payout 46.2% of profit, dividend per share up 16 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $4.3B and $5.7B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $3.9B to $6.4B. A statistical range, not company guidance. Against peers (12 filers, $50M+ revenue, natural gas distribution): operating margin 33.2% against a 33.8% median; growth 12.9% against 17.1%.

Atmos Energy Corp against its own record and its peers
Operating marginPeer median 33.8%33.2%Revenue, on the yearPeer median 17.1%12.9%Equity of assetsPeer median 26.4%48.0%Return on equity8.8%Payout of profit46.2%Gold tick: the median of 8–8 peers with $50M+ revenue in natural gas distribution
Handed back now, or kept to compound
Of each dollar of profit46.2% paid out53.8% keptHanded back per share$3.48up 16 years runningGrowth its own profit can fund4.8%retained x return on equityRevenue growth it managed12.9%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

The figures, as filed

Fiscal year end2025-09-30
Revenue$4.7B
Revenue, on the year12.9%
Revenue, a year over the record8.4%
Operating margin33.2%
Operating margin, prior year32.5%
Net margin25.5%
Research and developmentnot filed separately
Total debt$9.0B
Equity of assets48.0%
Return on equity8.8%
Payout of profit46.2%
Dividend per share$3.48 · up 16 years running
Earnings per share$7.54
Book value per share$84.44
Revenue per share$29.29
Shares outstanding160,573,000
Audited years read5

Peers: the median of 12 filers with $50M+ revenue in natural gas distribution.

Health watch · last 12 months

Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt.

Health Harbor

Atmos Energy sails as: Sound ship

Sailing speed follows growth: 3.8% a year crosses the harbor in 69 seconds.

New shipno warning signs
Sound shipone warning sign
Weathered boattwo warning signs
Old boatthree warning signs
Rotting at the dockfour or more warning signs

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Speed and cash · fiscal 2025

Cash Compass🌊 In between · no clear cash pattern yet
Inside viewTurns 43.6% of revenue into operating cash; revenue growing 3.8% a year over three years; pays and raised its dividend.
Outside viewAmong $1B-10B companies: 92nd percentile for cash, 46th for growth. cash growth

Both views must agree for a label · market view (price) not sourced; add a price at /boards/ask.json?q=TICKER&price=… · a description, not advice.

Cash conversion (operating cash ÷ revenue)43.6%
Growth speed (3 years, per year)3.8%
Revenue swing (std-dev of yearly growth)10.6%
Cash flow (operating · investing · financing · free)$2.0B · −$3.6B · $1.4B · −$1.5B
Investment book (cash · short-term · long-term)$203M · — · —
Common dividendpaid, raised on the year
Equity of assets47.9%

Atmos Energy is growing slower than its size class, with revenue that swings more. SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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