Is Atmos Energy (ATO) overvalued or fairly valued?

MarketChacha shows Atmos Energy's valuation in context — a trailing P/E of about 19.7, a forward P/E of about 18.6, a price-to-book of about 1.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Atmos Energy's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.32×) from reported figures — education, not a rating.

What is Atmos Energy's revenue?

Atmos Energy reported revenue of $4.7B for FY2025, with net profit of $1.2B, per official filings.

What is the share price of Atmos Energy (ATO)?

Atmos Energy last traded at $167.56 (-0.9% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

Atmos Energy

ATO · NYSE · Utilities · United States

Snapshot

TickerATO

ExchangeNYSE

SectorUtilities

IndustryUtilities - Regulated Gas

CountryUnited States

Employees5,487

HeadquartersDallas, United States

Websitewww.atmosenergy.com

Filings tracked17

About Atmos Energy

Atmos Energy Corporation, together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage. The Distribution segment is involved in the regulated natural gas distribution and related sales operations in eight states. This segment distributes natural gas to approximately 3.4 million residential, commercial, public authority, and industrial customers; and owned 76,000 miles of underground distribution and transmission mains. The Pipeline and Storage segment engages in the pipeline and storage operations. This segment transports natural gas for third parties and manages five underground storage facilities in Texas; provides ancillary services customary to the pipeline industry, including parking arrangements, lending, and inventory sales; and owned 5,700 miles of gas transmission lines. Atmos Energy Corporation was founded in 1906 and is based in Dallas, Texas.

Who owns it

Insiders0.4%
Institutions97.8%
Public & other1.8%

1,412 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.02%
State Street Corporation6.73%
Vanguard Capital Management LLC6.44%
Vanguard Portfolio Management LLC5.54%
Wellington Management Group, LLP5.44%
Capital International Investors4.43%
Geode Capital Management, LLC2.66%
Bank of America Corporation2.47%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion2.32×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend20.7% → 25.5%

Margin has expanded by about 4.8 points — the business is getting more profitable.

Growth qualityrev 5% · PAT 16%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.3B · EPS 2.63

Est. earnings growth +7.9%

Next fiscal year

Rev $5.7B · EPS 9.02

Est. earnings growth +6.6%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$4.7B

Net margin

25.5%

ROE

8.8%

Revenue CAGR (2y)

+4.9%

Profit CAGR (2y)

+16.3%

EPS (FY2025)

7.46

Net profit (FY2025)

$1.2B

Ask MarketChacha about ATO

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$4.7B	$1.2B	7.46	25.5%	8.8%
FY2024	$4.2B	$1.0B	6.83	25.0%	8.6%
FY2023	$4.3B	$885.9M	6.10	20.7%	8.1%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$879.1M	$242.7M	1.43	27.6%
2026Q1	$2.0B	$581.9M	3.47	29.7%
2025Q4	$1.3B	$403.0M	2.44	30.0%
2025Q2	$838.8M	$186.4M	1.16	22.2%
2025Q1	$2.0B	$485.6M	3.03	24.9%
2024Q4	$1.2B	$351.9M	2.23	29.9%
2024Q2	$701.5M	$165.6M	1.08	23.6%
2024Q1	$1.6B	$432.0M	2.85	26.2%
2023Q4	$1.2B	$311.3M	2.08	26.9%
2023Q2	$662.7M	$137.8M	0.94	20.8%
2023Q1	$1.5B	$357.7M	2.48	23.2%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC8/10/2026material
8-K — Results of operations, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Other events, Exhibits
SEC6/18/2026material
8-K — Material agreement, Exhibits
SEC6/18/2026material
8-K — Results of operations, Exhibits
SEC5/6/2026material
10-Q filing
SEC5/6/2026
8-K — Material agreement, Material financial obligation
SEC3/30/2026material
8-K — Bylaw/charter change, Shareholder vote results, Exhibits
SEC2/10/2026material
8-K — Results of operations, Exhibits
SEC2/3/2026material
10-Q filing
SEC2/3/2026

2025

10-K filing
SEC11/14/2025
8-K — Results of operations, Exhibits
SEC11/5/2025material
8-K — Other events, Exhibits
SEC10/1/2025material
8-K — Material agreement, Exhibits
SEC10/1/2025material
8-K — Results of operations, Exhibits
SEC8/6/2025material
10-Q filing
SEC8/6/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.