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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).

Revenue$4.7BFY2025 · +12.9% vs FY2024
Net income$1.2BFY2025 · +14.9% vs FY2024
Operating cash flow$2.0BFY2025 · +18.2% vs FY2024
Cash & equivalents$521Mat Jun 30, 2026 · +157.0% vs FY2025 end
Total debt$10.3Bat Jun 30, 2026 · +14.9% vs FY2025 end
Diluted shares161MFY2025 avg · +5.2% vs FY2024
Revenue and net income, three fiscal yearsBy fiscal year, $bn
RevenueNet income
Revenue and net income by fiscal yearRevenue FY2023: $4.3B4.3Net income FY2023: $886M0.89FY2023Revenue FY2024: $4.2B4.2Net income FY2024: $1.0B1.0FY2024Revenue FY2025: $4.7B4.7Net income FY2025: $1.2B1.2FY2025Data: Ticker Sage, from SEC EDGAR · tickersage.com

Source: 10-K FY2025, filed Nov 14, 2025

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)
FY2025FY2026
Quarterly revenue, fiscal 2026 vs 2025FY2025 Q1: $1.2B1.2FY2026 Q1: $1.3B1.3Q1FY2025 Q2: $2.0B2.0FY2026 Q2: $2.0B2.0Q2FY2025 Q3: $839M0.84FY2026 Q3: $879M0.88Q3Data: Ticker Sage, from SEC EDGAR · tickersage.com

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

How the quarter compared with a year earlier

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

Revenue
$879M Q3 FY2026
$839M Q3 FY2025
4.8% increase
Net income
$243M Q3 FY2026
$186M Q3 FY2025
30.2% increase

Source: Atmos Energy 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026

  • Cash & equivalents $521M at Jun 30, 2026, vs $203M at FY2025 end.
  • Total debt $10.3B at Jun 30, 2026, vs $8.9B at FY2025 end.
  • Operating cash flow, first 9 months of fiscal 2026: $1.7B vs $1.7B a year earlier.

The bull case and the bear case

The bull case

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.

  1. Rates and regulatorsRegulators set much of what it can charge, so decisions can limit earnings.
  2. Capital spendingBuilding and upgrading networks needs large investment financed with debt.
  3. Weather and operationsStorms, wildfires and outages can cause costs and liability.
  4. Fuel and power costsFuel and purchased-power costs can change faster than rates.
  5. 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$FY2023FY2024FY2025
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 shares145M153M161M
  • 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

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

    FormFiledPeriod
    10-QAug 5, 2026Jun 30, 2026
    10-QMay 6, 2026Mar 31, 2026
    10-QFeb 3, 2026Dec 31, 2025
    DEF 14ADec 19, 2025Feb 4, 2026
    10-KNov 14, 2025Sep 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

    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

    CompanyFiscal yearRevenueRevenue growthNet income
    Atmos EnergyATOFY2025$4.7B+12.9%$1.2B
    NextEra EnergyNEEFY2025$27.4B+10.7%$6.8B
    Southern CompanySOFY2025$29.6B+10.6%$4.3B
    Duke EnergyDUKFY2025$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

    New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.