Atmos Energy Corp
Atmos Energy Corp operates as an integrated oil and gas company, generating revenue through its distribution operations and integrated energy activities.
Business. ATMOS ENERGY CORP (ATO) is an integrated oil and gas company listed on the New York Stock Exchange. The firm operates within the Energy sector, specifically focusing on the exploration, production, and sale of oil and gas products. As no specific operating segments or geographic details are provided, the company is described at the industry level as an integrated player in the oil and gas market. Its business activities are characterized by standard industry metrics such as production volumes, reserve replacement ratios, and operating costs per barrel of oil equivalent.
Analyst recommendations
15 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
2Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsFY 2026 earnings (expected)2026-11-09 · estimated
- Peers
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated · BP (BP)
- EarningsQ3 2026 earnings (expected)2026-10-30 · estimated · Chevron (CVX)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressJohn Boozman — Atmos Energy Corporation Common Stock2026-06-12 · Republican · AR · Sale · $1,001 - $15,000
- CongressRichard W. Allen — Atmos Energy Corporation Common2025-08-19 · Republican · GA · Purchase · $15,001 - $50,000
- CongressJared Moskowitz — Atmos Energy Corporation Common2024-11-08 · Democrat · FL · Purchase · $1,001 - $15,000
- CongressJared Moskowitz — Atmos Energy Corporation Common2024-07-05 · Democrat · FL · Purchase · $1,001 - $15,000
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
ATMOS ENERGY CORP (ATO) is an integrated oil and gas company listed on the New York Stock Exchange. The firm operates within the Energy sector, specifically focusing on the exploration, production, and sale of oil and gas products. As no specific operating segments or geographic details are provided, the company is described at the industry level as an integrated player in the oil and gas market. Its business activities are characterized by standard industry metrics such as production volumes, reserve replacement ratios, and operating costs per barrel of oil equivalent.
Atmos Energy Corp maintains a capital structure characterized by significant leverage, with long-term debt of $9.55 billion against total equity of $14.91 billion, resulting in a debt-to-equity ratio of 0.64. The company holds $125.7 million in cash and equivalents, leading to a negative net cash position after subtracting total debt. Liquidity is assessed as high, though the current ratio stands at 1.0, which is close to the minimum comfort range. The market capitalization is $31.6 billion, with a price-to-earnings ratio of 26.36 and an EV/EBITDA of 17.88.
Profitability metrics show a return on equity of 8.04% and a return on assets of 3.95%. In the latest quarter, the company reported revenue of $3.30 billion, operating income of $1.28 billion, and net income of $984.9 million. Operating cash flow was $1.03 billion. These returns are evaluated against the backdrop of the integrated oil and gas industry, where capital intensity typically pressures asset returns.
Revenue concentration is not explicitly detailed by segment or geography in the available data, but the company's operations are described as integrated oil and gas activities. The peak-day demand for distribution operations in fiscal 2025 reached approximately 4.2 Bcf on February 19, 2025, indicating significant operational scale in its distribution segment.
Growth trajectory analysis is limited by the absence of historical period data in the input. However, the recent completion of a $600 million public offering of 5.45% senior notes due January 2026 suggests active capital management and potential investment in growth or refinancing. The net proceeds of $590.0 million were used for general corporate purposes.
Risk assessment highlights medium dilution risk and flags that the current ratio is close to the minimum comfort range. Source documents mention dilution or offering risk. The company has a substantial debt load with various maturities, including unsecured senior notes due between 2027 and 2056. The recent issuance of long-term debt increases interest expense obligations but extends the maturity profile.
Recent events include the completion of the annual goodwill impairment assessment using a qualitative assessment in Q2 2026. The company also noted recent FASB guidance on expense captions and internal-use software costs. Analyst sentiment is mixed, with a mean recommendation of 2.67 (on a 1-5 scale) and a mean price target of $185.87, compared to the current market price of $189.98.
- Debt-to-equity ratio of 0.64 reflects moderate leverage, supported by a high liquidity assessment despite a current ratio of 1.0.
- ROE of 8.04% and ROA of 3.95% indicate modest returns on capital in the integrated oil and gas sector.
- Recent $600 million debt issuance extends maturity profile but adds to interest obligations.
- Dilution risk is rated medium, with source documents citing offering risk.
- Analyst price targets average $185.87, slightly below the current market price of $189.98.
- Peak distribution demand of 4.2 Bcf highlights operational scale in the distribution segment.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Revenue $3.30B; Operating income $1.28B.
- ▍Revenue $3.30B
- ▍Operating income $1.28B
- ▍Net margin 29.8%
Revenue $1.34B; Operating income $514.8M.
- ▍Revenue $1.34B
- ▍Operating income $514.8M
- ▍Net margin 30.0%
Revenue $4.70B; Operating income $1.56B.
- ▍Revenue $4.70B
- ▍Operating income $1.56B
- ▍Net margin 25.5%
Revenue $4.17B; Operating income $1.36B.
- ▍Revenue $4.17B
- ▍Operating income $1.36B
- ▍Net margin 25.0%
Revenue $4.17B; Operating income $1.36B.
- ▍Revenue $4.17B
- ▍Operating income $1.36B
- ▍Net margin 25.0%
Revenue $4.28B; Operating income $1.07B.
- ▍Revenue $4.28B
- ▍Operating income $1.07B
- ▍Net margin 20.7%
Revenue $4.28B; Operating income $1.07B.
- ▍Revenue $4.28B
- ▍Operating income $1.07B
- ▍Net margin 20.7%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Current ratio is close to the minimum comfort range.
- Net cash is negative after subtracting total debt.
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director · Phantom Deferred Compensation → Common StockAcquired 188grant · 2026-07-01
- Senior Advisor · Restricted Stock Unit → Common StockDisposed 2 815exercise · 2026-05-02
- SR VICE PRESIDENT & CFO · Restricted Stock Unit → Common StockDisposed 3 970exercise · 2026-05-02
- Vice President & Controller · Restricted Stock Unit → Common StockDisposed 175exercise · 2026-05-02
- Director, PRESIDENT & CEO · Restricted Stock Unit → Common StockDisposed 16 850exercise · 2026-05-02
- SR VP, HUMAN RESOURCES · Restricted Stock Unit → Common StockDisposed 2 815exercise · 2026-05-02
- SR VP, UTILITY OPERATIONS · Restricted Stock Unit → Common StockDisposed 2 815exercise · 2026-05-02
- Director · Phantom Deferred Compensation → Common StockAcquired 176grant · 2026-04-01
- Director · Restricted Stock Unit → Common StockDisposed 1 082exercise · 2026-03-07
- Director · Restricted Stock Unit → Common StockDisposed 1 082exercise · 2026-03-07
- Director · Restricted Stock Unit → Common StockDisposed 1 082exercise · 2026-03-07
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Restricted Stock Unit → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Restricted Stock Unit → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Stock Units → Common StockAcquired 920grant · 2026-03-06
- Director · Phantom Deferred Compensation → Common StockDisposed 685conversion · 2026-02-04
- Director · Phantom Stock Units → Common StockDisposed 30 808conversion · 2026-02-04
- SR VP, HUMAN RESOURCES · Restricted Stock Unit → Common StockAcquired 1 240grant · 2026-02-03
Physical assets
2 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Atmos Pipeline Texas | Gas pipeline | Gas | United States | Parent |
| Atmos Pipeline Texas | Gas pipeline | Gas | United States | Registered owner |
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Return On Equitynet_income / total_equity
- Enterprise Valuemarket_cap - net_cash
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- ATMOS ENERGY CORP company facts · 2026-07-25
- ATMOS ENERGY CORP 10-Q 2026-05-06 · 2026-07-25
- ATMOS ENERGY CORP 10-Q 2026-02-03 · 2026-07-25
- ATMOS ENERGY CORP 10-K 2025-11-14 · 2026-07-25
- ATMOS ENERGY CORP 10-Q 2025-08-06 · 2026-07-25
- allocator_boost (allocator) on ATO · 2026-07-25
- Atmos Energy Corp Market data — analyst estimates · 2026-07-25
- Atmos Energy Corp Market data — ESG · 2026-07-25
- Atmos Energy Corp — company reference export (2026-07-05) · 2026-07-25
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,33 %$1 783M
- Investment Managers · as of 2026-03-310,32 %$1 353M
- Institutional Investor · as of 2026-03-310,11 %$331M
- Investment Managers · as of 2026-03-310,10 %$185M
- Investment Managers · as of 2026-03-310,09 %$164M
- Funds · as of 2026-03-310,09 %$556M
- Investment Managers · as of 2026-03-310,07 %$2 101M
- Investment Managers · as of 2026-03-310,07 %$151M
- Brokerage Firms · as of 2026-03-310,07 %$223M
- Investment Managers · as of 2026-03-310,06 %$1M
- Investment Managers · as of 2025-12-310,05 %$3 526M
- Investment Managers · as of 2026-03-310,05 %$94M
- Investment Managers · as of 2026-03-310,05 %$798M
- Brokerage Firms · as of 2026-03-310,05 %$246M
- Investment Managers · as of 2026-03-310,05 %$357M
- Investment Managers · as of 2026-03-310,05 %$0M
- Investment Managers · as of 2026-03-310,04 %$63M
- Investment Managers · as of 2026-03-310,04 %$64M
- Investment Managers · as of 2026-03-310,04 %$286M
- Investment Managers · as of 2024-06-300,03 %$1 539M
- Investment Managers · as of 2026-03-310,03 %$554M
- Institutional Investor · as of 2026-03-310,03 %$165M
- Investment Managers · as of 2026-03-310,03 %$191M
- Investment Managers · as of 2026-03-310,03 %$139M
- Investment Managers · as of 2026-03-310,02 %$133M
- Institutional Investor · as of 2022-09-300,02 %$0M
- Investment Managers · as of 2026-03-310,02 %$30M
- Investment Managers · as of 2024-12-310,02 %$57M
- Investment Managers · as of 2026-03-310,01 %$36M
- Investment Managers · as of 2026-03-310,01 %$28M
- Institutional Investor · as of 2026-03-310,01 %$18M
- Institutional Investor · as of 2026-03-310,00 %$12M
- Investment Managers · as of 2026-03-310,00 %$7M
- Institutional Investor · as of 2026-03-310,00 %$23M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$2M
Leadership
- Kevin K. AkersPresident, Chief Executive Officer, Director
Insider activity
- Director · Common StockOther 65 @ $172,92$11K · 2026-07-01
- SR VICE PRESIDENT & CFO · Common StockOther 1 563 @ $189,74$297K · 2026-05-02
- Vice President & Controller · Common StockOther 175 @ $189,74$33K · 2026-05-02
- Vice President & Controller · Common StockOther 70 @ $189,74$13K · 2026-05-02
- Director, PRESIDENT & CEO · Common StockOther 16 850 @ $189,74$3,2M · 2026-05-02
- Director, PRESIDENT & CEO · Common StockOther 6 235 @ $187,74$1,2M · 2026-05-02
- SR VP, HUMAN RESOURCES · Common StockOther 2 815 @ $189,74$534K · 2026-05-02
- SR VP, UTILITY OPERATIONS · Common StockOther 1 042 @ $189,74$198K · 2026-05-02
- Senior Advisor · Common StockOther 2 815 @ $189,74$534K · 2026-05-02
- Senior Advisor · Common StockOther 1 042 @ $189,74$198K · 2026-05-02
- SR VICE PRESIDENT & CFO · Common StockOther 3 970 @ $189,74$753K · 2026-05-02
- SR VP, HUMAN RESOURCES · Common StockOther 1 042 @ $189,74$198K · 2026-05-02
- SR VP, UTILITY OPERATIONS · Common StockOther 2 815 @ $189,74$534K · 2026-05-02
- Director · Common StockOther 60 @ $185,09$11K · 2026-04-01
- Director · Common StockOther 1 082 @ $184,73$200K · 2026-03-07
- Director · Common StockOther 1 082 @ $184,73$200K · 2026-03-07
- Director · Common StockOther 1 082 @ $184,73$200K · 2026-03-07
- Director · Common StockOther 30 808 @ $171,62$5,3M · 2026-02-04
- Director · Common StockOther 685 @ $171,62$118K · 2026-02-04
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Current ratio (FY 2025-12-31): 1.13xDerived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -37.2%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 12.5%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 11.8%Derived (calculated)
- Total assets (annual): USD 29.8BSEC XBRL filing
- Current liabilities (annual): USD 1.45BSEC XBRL filing
- Shareholders' equity (annual): USD 14.28BSEC XBRL filing
- Shares outstanding (annual): 165.43MSEC XBRL filing
- Current assets (annual): USD 1.64BSEC XBRL filing
- Cash & equivalents (annual): USD 367.02MSEC XBRL filing
- Net margin (FY 2025-09-30): 25.5%Derived (calculated)
- EPS (basic) (YoY) (2025-09-30 vs 2024-09-30): 10.4%Derived (calculated)
- Operating cash flow (YoY) (2025-09-30 vs 2024-09-30): 18.2%Derived (calculated)
- Operating income (YoY) (2025-09-30 vs 2024-09-30): 15.1%Derived (calculated)
- Net income (YoY) (2025-09-30 vs 2024-09-30): 14.9%Derived (calculated)
- EPS (diluted) (YoY) (2025-09-30 vs 2024-09-30): 9.2%Derived (calculated)
- Revenue (YoY) (2025-09-30 vs 2024-09-30): 12.9%Derived (calculated)
- EPS (basic) (annual): USD-PER-SHARES 8SEC XBRL filing
- Operating income (annual): USD 1.56BSEC XBRL filing
- Net income (annual): USD 1.2BSEC XBRL filing
- Pre-tax income (annual): USD 1.48BSEC XBRL filing
- Revenue (annual): USD 4.7BSEC XBRL filing
- Operating cash flow (annual): USD 2.05BSEC XBRL filing
- EPS (diluted) (annual): USD-PER-SHARES 7SEC XBRL filing