MARKETS / NYSE / ATO

NYSE · NATURAL GAS DISTRIBUTION · LARGE CAP

Atmos Energy Corp. ATO

18 fiscal years on record · USD · FY2025 reported · SEC filings only

17 YEARS OF DIVIDEND GROWTH

Revenue

$4.7B

▲ 12.9% YoY

Net income

$1.2B

▲ 14.9% YoY

Free cash flow

$-1.5B

In brief

What this company does

Atmos Energy operates in its service areas under non-exclusive franchise agreements granted by the cities and towns it serves, holding 1,010 franchises as of September 30, 2025, with terms generally ranging from five to 35 years. At September 30, 2025, Atmos Energy had 5,487 employees; as of December 31, 2024, the last date for which information was available, 62 percent of its employees worked in field roles and 38 percent worked in support/shared services roles. Atmos Energy estimates its peak-day availability of natural gas supply at approximately 5.4 Bcf; the peak-day demand for its distribution operations in fiscal 2025 occurred on February 19, 2025, when sales to customers reached approximately 4.2 Bcf. Atmos Energy manages and reviews its consolidated operations through two reportable segments: the distribution segment, comprised of its regulated natural gas distribution and related sales operations in eight states, and the pipeline and storage segment, comprised primarily of the regulated pipeline and storage operations of its Atmos Pipeline-Texas division and its natural gas transmission operations in Louisiana.

Written from the business description in Atmos Energy Corp's annual report to the U.S. Securities and Exchange Commission, filed 14 November 2025. Every sentence was checked against that document before publication.

Growth

USD 4.7B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 4.7 · Net income 1.2

Compound annual growth

Revenue

+3.8%

+10.8%

+4.9%

+0.1%

Net income

+15.7%

+14.8%

+14.3%

+12.5%

EPS, diluted

+10.0%

+8.8%

+9.2%

+8.5%

Dividend / share

+8.6%

+8.4%

+6.6%

Returned to shareholders

+13.8%

+14.4%

+13.2%

+10.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.8% a year over five years — but profit grew faster: net income at +14.8%, earnings per share at +8.8%.

The share count rose from 0.13B to 0.16B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

25 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 33.2% · Net 25.5%

ROE

FY2025 · ROE 9.3%

Gross margin—

Operating margin33.2%

Net margin25.5%

Return on assets4.5%

EBITDAUSD 2.3B

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 553.8M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF -1.5

Net buybacks $M Dividends $M

FY2025 · Dividends 553.8 · Net buybacks —

Dividends paidUSD 553.8M

Net buybacks—

Share of profit46.2%

Consecutive raises17 years

USD 553.8M in dividends — 46% of the year's profit went back to shareholders.

Total assetsUSD 28.2B

EquityUSD 13.6B

CashUSD 202.7M

Gross debtUSD 8.9B

Net debtUSD 8.7B

Current ratio0.77×

Net debt stands at 64% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	4.7	4.2	4.3	4.2	3.4	2.8	2.9	3.1	2.8	2.5	2.9	4.9	3.9	3.4	4.3	4.7	4.9	·
Operating income $B	1.6	1.4	1.1	0.9	0.9	0.8	0.7	0.7	0.7	0.7	0.6	0.6	0.5	0.4	0.4	0.5	0.4	0.4
EBITDA $B	2.3	2.0	1.7	1.5	1.4	1.3	1.1	1.1	1.1	1.0	0.9	·	·	·	·	·	·	·
Income tax $B	0.3	0.2	0.1	0.1	0.2	0.1	0.1	0.0	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1
Net income $B	1.2	1.0	0.9	0.8	0.7	0.6	0.5	0.6	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
Free cash flow $B	−1.5	−1.2	0.7	−1.5	−3.1	−0.9	−0.7	−0.3	−0.3	−0.3	−0.2	−0.1	−0.2	−0.1	−0.0	0.2	0.4	−0.1
EPS, diluted $	7.46	6.83	6.10	5.60	5.12	4.89	4.35	5.43	3.73	3.38	3.09	2.96	2.64	2.37	2.27	2.20	2.07	·
Dividend / sh $	3.48	3.22	2.96	2.72	2.50	2.30	2.10	1.94	1.80	1.68	1.56	1.48	1.40	1.38	1.36	1.34	1.32	·
Payout %	46	47	49	49	49	47	48	36	48	50	51	50	53	58	60	60	64	65
ROE %	9.3	9.1	8.7	8.9	9.1	9.6	9.7	13.9	10.8	10.5	10.0	10.2	9.8	9.4	9.4	9.5	9.0	8.8
Shares out B	0.16	0.16	0.15	0.14	0.13	0.13	0.12	0.11	0.11	·	·	·	·	·	·	·	·	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityNatural Gas Distribution

Listed onNYSE

Incorporated inTexas

Fiscal year endsSeptember 30

Data on record since2008