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MARKETS / NYSE / TXNM
NYSE · ELECTRIC SERVICES · LARGE CAP

Txnm Energy Inc. TXNM

18 fiscal years on record · USD · FY2025 reported · SEC filings only
14 YEARS OF DIVIDEND GROWTH
$2.1B
▲ 9.0% YoY
$169.8M
▼ 34.4% YoY
$-611.4M
In brief

What this company does

TXNM Energy, Inc. serves approximately 842,000 residential, commercial, and industrial customers in New Mexico and Texas through its two regulated electric utilities, PNM and TNMP. As of December 31, 2025, TXNM had 1,755 employees in total, including 870 at PNM and 445 at TNMP. PNM provides electric generation, transmission, and distribution service to its rate-regulated customers. TNMP provides transmission and distribution services at regulated rates to REPs that in turn provide retail electric service to consumers within its service area. PNM was incorporated in the State of New Mexico in 1917. TNMP's predecessor was organized in 1925. TXNM was incorporated in the State of New Mexico in 2000.

Written from the business description in TXNM ENERGY INC's annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 2.1B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.1 · Net income 0.2
0.8B1.6B2008201120142017202020232025
Compound annual growth
−1.7%
+7.2%
−2.8%
−1.9%
−9.1%
−7.2%
+22.2%
+5.4%
+5.7%
+7.2%
+8.3%
+8.5%
+10.6%
+29.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +7.2% a year over five years.

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
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 20.6% · Net 7.9%
10%20%2008201120142017202020232025
ROE
FY2017 · ROE 4.7%
5%10%-1%-2%2008201120142017202020232025
Gross margin—
Operating margin20.6%
Net margin7.9%
Return on assets1.5%
EBITDAUSD 924.6M

Cash & shareholders
USD 163.4M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -611.4
-250.0M-500.0M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends 163.4 · Net buybacks -830.8
80M160M-400M-800MDividendsNet buybacks2008201120142017202020232025
Dividends paidUSD 163.4M
Net buybacksUSD -830.8M
Share of profit—
Consecutive raises14 years

USD 163.4M in dividends went back to shareholders.

Total assetsUSD 12.1B
EquityUSD 3.4B
CashUSD 18.3M
Gross debtUSD 5.4B
Net debtUSD 5.4B
Current ratio0.55×

Net debt stands at 159% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B2.12.01.92.31.71.51.41.41.31.3········
Operating income $B0.40.50.20.40.30.30.10.20.30.30.10.30.30.30.30.20.2−0.2
EBITDA $B0.90.90.60.70.60.60.40.50.60.50.30.50.50.50.50.40.4−0.1
Income tax $B0.00.0−0.00.00.00.0−0.00.00.10.10.00.10.10.10.1−0.00.0−0.1
Net income $B0.20.30.10.20.20.20.10.10.10.10.00.10.10.10.2−0.00.1−0.3
Free cash flow $B−0.6−0.7−0.5−0.3−0.4−0.2−0.1−0.10.0−0.2−0.2−0.00.0−0.0−0.00.0−0.2−0.3
EPS, diluted $1.482.671.021.972.272.150.971.071.001.460.201.451.251.311.96−0.491.36−3.24
Dividend / sh $1.651.571.491.411.331.251.181.080.990.900.820.760.680.580.500.500.500.60
Payout %········97·········
ROE %········4.77.00.96.86.16.611.3−2.87.5·
Shares out B0.110.090.090.090.090.090.080.080.080.080.080.080.080.080.080.090.09·

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

Provenance
Company facts, as filed
How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityElectric Services
Listed onNYSE
Incorporated inNew Mexico
Fiscal year endsDecember 31
Data on record since2008

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