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ATMOS ENERGY CORP ATO

NYSE · stock · Natural Gas Distribution · website · IPO 1983-12-28 · LEI

ATMOS ENERGY CORP statistics & valuation

Market cap$29.2B
P / E24.4×
P / S6.2×
P / B2.2×
Dividend yield1.89%
Net margin25.5%
Return on equity8.8%
Return on capital5.8%
Graham number -30%$118.68

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($118.68); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
14.30% 14.40% 19.40% 17.60% 21.30% 19.50% 18.40% 20.70% 25.00% 25.50% 2016201720182019202020212022202320242025
Gross margin (%)
71.10% 2016201720182019202020212022202320242025
Operating margin (%)
26.80% 26.70% 23.40% 25.70% 29.20% 26.60% 21.90% 25.00% 32.50% 33.20% 2016201720182019202020212022202320242025
Return on equity (%)
10.10% 10.20% 12.60% 8.90% 8.90% 8.40% 8.20% 8.10% 8.60% 8.80% 2016201720182019202020212022202320242025
Shares outstanding
103.9M 106.1M 111.3M 119.3M 125.9M 132.4M 140.9M 148.5M 155.3M 161.6M 2016201720182019202020212022202320242025
Net debt ($)
$2.14B $3.04B $2.48B $3.50B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.50% 3.70% 5.10% 3.80% 3.90% 3.40% 3.50% 3.90% 4.10% 4.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.63× 0.79× 0.52× 0.61× 2016201720182019202020212022202320242025
EPS ($)
$3.38 $3.73 $5.43 $4.35 $4.89 $5.12 $5.60 $6.10 $6.83 $7.46 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ATMOS ENERGY CORP trades at about 22.7× earnings — above its 10-year norm (10-year range 17.1×–25.9×, median 20.3×).

17.1× 25.9×

Shaded band = 10-year range (17.1×–25.9×); dot = today's 22.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin—————————71.1%
Operating margin33.2%32.5%25.0%21.9%26.6%29.2%25.7%23.4%26.7%26.8%
Net margin25.5%25.0%20.7%18.4%19.5%21.3%17.6%19.4%14.4%14.3%
Return on assets4.2%4.1%3.9%3.5%3.4%3.9%3.8%5.1%3.7%3.5%
Return on equity8.8%8.6%8.1%8.2%8.4%8.9%8.9%12.6%10.2%10.1%
Debt / equity——————0.61×0.52×0.79×0.63×
Current ratio0.770.940.650.850.810.600.380.250.530.38

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.