Company file · ATO
Atmos Energy
Atmos Energy's revenue rose 12.9% in FY2025, to $4.7B, and net income rose 14.9% to $1.2B
Revenue rose 12.9% to $4.7B in FY2025, from $4.2B in FY2024. Net income rose 14.9% to $1.2B.
Key facts
Atmos Energy (NYSE: ATO) reported revenue of $4.7B for fiscal 2025, the year ended Sep 30, 2025, up 12.9% from fiscal 2024. Net income was $1.2B, up 14.9%. In its latest 10-Q, for the quarter ended Jun 30, 2026, revenue was $879M, up 4.8% from the same quarter a year earlier, and net income was $243M. Sources: 10-K for fiscal 2025 (filed Nov 14, 2025) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026).
Source: 10-K FY2025, filed Nov 14, 2025
Source: 10-Q filed Feb 3, 2026 · 10-Q filed May 6, 2026 · 10-Q filed Aug 5, 2026
How it makes money
Atmos Energy reported revenue of $4.7B for FY2025, and net income of $1.2B.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 FY2026 (Apr to Jun 2026) compared with Q3 FY2025 (Apr to Jun 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 FY2026Q3 FY2025
Company
Source: Atmos Energy 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026
The bull case and the bear case
The bull case
- Revenue rose 12.9% in FY2025 to $4.7B, from $4.2B a year earlier. 10-K, FY2025
- Net income rose 14.9% in FY2025 to $1.2B, from $1.0B. 10-K, FY2025
- Operating cash flow rose 18.2% in FY2025 to $2.0B. 10-K, FY2025
- Revenue in the quarter ended Jun 30, 2026 was $879M, up 4.8% on a year earlier. 10-Q, quarter ended Jun 30, 2026
The bear case
- Diluted shares rose 5.2% in FY2025, which spreads profit across more shares. 10-K, FY2025
- Total debt rose 14.6% in FY2025 to $8.9B. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include rates and regulators; capital spending; weather and operations. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Atmos Energy is in the gas utilities industry, part of the utilities sector. The SEC files it under Natural Gas Distribution.
The full description of Atmos Energy's business is in Item 1 of its 10-K, linked below. This page shows its revenue in total only, because its tagged data has no breakdown that adds up to total revenue.
Its fiscal year ends in September; the latest, FY2025, ended Sep 30, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the gas utilities industry. They are not a summary of Atmos Energy’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Rates and regulatorsRegulators set much of what it can charge, so decisions can limit earnings.
- Capital spendingBuilding and upgrading networks needs large investment financed with debt.
- Weather and operationsStorms, wildfires and outages can cause costs and liability.
- Fuel and power costsFuel and purchased-power costs can change faster than rates.
- Interest ratesHigher borrowing costs raise the cost of funding projects.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $4.3B | $4.2B | $4.7B |
| Net income | $886M | $1.0B | $1.2B |
| Operating cash flow | $3.5B | $1.7B | $2.0B |
| Cash & equivalents (year end) | $15M | $307M | $203M |
| Total debt (year end) | $6.8B | $7.8B | $8.9B |
| Diluted shares | 145M | 153M | 161M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Short-term debt and current maturities plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- Risk factors (Item 1A)
- The cash flow statement
- Segment reporting
- Margin accounts
- Maintenance vs. growth capex
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
What we left out
- Revenue by segment, product or region: the company's XBRL data has no breakdown that adds up to total revenue, so none is shown. The 10-K has its own segment note.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Aug 5, 2026 | Jun 30, 2026 |
| 10-Q | May 6, 2026 | Mar 31, 2026 |
| 10-Q | Feb 3, 2026 | Dec 31, 2025 |
| DEF 14A | Dec 19, 2025 | Feb 4, 2026 |
| 10-K | Nov 14, 2025 | Sep 30, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Atmos Energy
How does Atmos Energy make money?
Atmos Energy's revenue was $4.7B in fiscal 2025. Atmos Energy reported revenue of $4.7B for FY2025, and net income of $1.2B. Source: 10-K for fiscal 2025, filed Nov 14, 2025.
What was Atmos Energy's revenue in fiscal 2025?
$4.7B of revenue for the fiscal year ended Sep 30, 2025, up 12.9% from $4.2B in fiscal 2024. Fiscal 2023 was $4.3B. Source: 10-K for fiscal 2025, filed Nov 14, 2025.
Is Atmos Energy profitable?
Atmos Energy reported net income of $1.2B for fiscal 2025, up 14.9% from $1.0B in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Jun 30, 2026, net income was $243M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Nov 14, 2025.
What did Atmos Energy report in its latest quarterly filing?
Revenue was $879M in the quarter ended Jun 30, 2026, up 4.8% from $839M a year earlier. Net income was $243M, up 30.2% from $186M. Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026.
How much cash and debt does Atmos Energy have?
Atmos Energy had $521M in cash and cash equivalents and $10.3B of total debt on Jun 30, 2026. Total debt here is short-term debt and current maturities plus long-term debt, at carrying value. Source: 10-Q filed Aug 5, 2026.
What are the main risks Atmos Energy faces?
Atmos Energy's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Nov 14, 2025. Risks that are common among companies in the gas utilities industry include Rates and regulators; capital spending; weather and operations; fuel and power costs; interest rates. The first: Regulators set much of what it can charge, so decisions can limit earnings. Source: 10-K, Item 1A Risk Factors.
Where do these Atmos Energy numbers come from?
From Atmos Energy's own SEC filings: the 10-K for fiscal 2025 (filed Nov 14, 2025) and the 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Atmos Energy
- Citadel Advisors: 1,736,405 shares, reported value $299.1M at Jun 30, 2026 (+131.0% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 1,361,162 shares, reported value $234.5M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
- GQG Partners: 1,175,136 shares, reported value $202.4M at Jun 30, 2026 (+32.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 12, 2026.
- Renaissance Technologies: 447,900 shares, reported value $77.2M at Jun 30, 2026 (+168.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Millennium Management: 272,772 shares, reported value $47.0M at Jun 30, 2026 (+4.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 183,096 shares, reported value $31.5M at Jun 30, 2026 (+103.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 3,587 shares, reported value $0.6M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in ATO
- The editor holds no position in Atmos Energy (ATO). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell ATO from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 9, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold ATO, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Atmos EnergyATO | FY2025 | $4.7B | +12.9% | $1.2B |
| NextEra EnergyNEE | FY2025 | $27.4B | +10.7% | $6.8B |
| Southern CompanySO | FY2025 | $29.6B | +10.6% | $4.3B |
| Duke EnergyDUK | FY2025 | $31.7B | +5.6% | $5.0B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
More company files
- CEG Constellation Energy
- AEP American Electric Power
- SRE Sempra
- ETR Entergy
- VST Vistra
- ED Consolidated Edison
- PCG PG&E
- WEC WEC Energy Group
- PEG Public Service Enterprise Group
- D Dominion Energy
- EXC Exelon
- AEE Ameren
- AWK American Water Works
- CNP CenterPoint Energy
- FE FirstEnergy
- PPL
- ES Eversource Energy
- XEL Xcel Energy
- DTE DTE Energy
- EIX Edison International
- CMS CMS Energy
- NI NiSource
- NRG NRG Energy
- EVRG Evergy
- LNT Alliant Energy
- PNW Pinnacle West Capital
- AES
- AAPL Apple
- MSFT Microsoft
- NVDA Nvidia
New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.