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Atmos Energy Corp

ATO

Natural Gas Distribution

Mkt Cap

$17.05B

PE

18.44

Debt

$7.512B

Cash

$285.4M

EV

$24.28B

FCF

$736.2M

Market Cap

$17.05B

P/E Ratio

18.44

Debt

$7.512B

Cash

$285.4M

EV

$24.28B

FCF

$736.2M
Charts data: {"Earnings":[{"time":"2014-09-29","value":289106000},{"time":"2015-09-29","value":314449000},{"time":"2016-09-29","value":349558000},{"time":"2017-09-29","value":396421000},{"time":"2018-09-29","value":602484000},{"time":"2019-09-29","value":510990000},{"time":"2020-09-29","value":600999000},{"time":"2021-09-29","value":665098000},{"time":"2022-09-29","value":773890000},{"time":"2023-09-29","value":885320000}],"Sales":[{"time":"2014-09-29","value":4940916000},{"time":"2015-09-29","value":4142136000},{"time":"2016-09-29","value":2454648000},{"time":"2017-09-29","value":2759735000},{"time":"2018-09-29","value":3115546000},{"time":"2019-09-29","value":2901848000},{"time":"2020-09-29","value":2821137000},{"time":"2021-09-29","value":3407490000},{"time":"2022-09-29","value":4201662000},{"time":"2023-09-29","value":4275357000}],"Net Margins":[{"time":"2014-09-29","value":0.058512632070652486},{"time":"2015-09-29","value":0.07591469715142139},{"time":"2016-09-29","value":0.14240656908852103},{"time":"2017-09-29","value":0.14364458906380503},{"time":"2018-09-29","value":0.19337990836919114},{"time":"2019-09-29","value":0.17609123565396947},{"time":"2020-09-29","value":0.21303431914153761},{"time":"2021-09-29","value":0.19518707318290002},{"time":"2022-09-29","value":0.1841866385254216},{"time":"2023-09-29","value":0.20707510507309682}],"Assets":[{"time":"2014-09-29","value":8594704000},{"time":"2015-09-29","value":9092945000},{"time":"2016-09-29","value":10010889000},{"time":"2017-09-29","value":10749596000},{"time":"2018-09-29","value":11874437000},{"time":"2019-09-29","value":13367619000},{"time":"2020-09-29","value":15359032000},{"time":"2021-09-29","value":19608662000},{"time":"2022-09-29","value":22192989000},{"time":"2023-09-29","value":22516968000}],"Stockholders Equity":[{"time":"2014-09-29","value":3086232000},{"time":"2015-09-29","value":3194797000},{"time":"2016-09-29","value":3463059000},{"time":"2017-09-29","value":3898666000},{"time":"2018-09-29","value":4769951000},{"time":"2019-09-29","value":5750223000},{"time":"2020-09-29","value":6791203000},{"time":"2021-09-29","value":7906889000},{"time":"2022-09-29","value":9419091000},{"time":"2023-09-29","value":10870064000}],"ROE":[{"time":"2014-09-29","value":0.09367604250101742},{"time":"2015-09-29","value":0.09842534596094837},{"time":"2016-09-29","value":0.10093908304767547},{"time":"2017-09-29","value":0.10168119043796006},{"time":"2018-09-29","value":0.1263082157447739},{"time":"2019-09-29","value":0.08886437969449185},{"time":"2020-09-29","value":0.08849669197048005},{"time":"2021-09-29","value":0.08411626873729984},{"time":"2022-09-29","value":0.08216185617062198},{"time":"2023-09-29","value":0.08144570261959819}],"ROA":[{"time":"2014-09-29","value":0.07113089642179649},{"time":"2015-09-29","value":0.0694378993824333},{"time":"2016-09-29","value":0.06672913864093388},{"time":"2017-09-29","value":0.06768124122990296},{"time":"2018-09-29","value":0.06089838196118266},{"time":"2019-09-29","value":0.05636471236949527},{"time":"2020-09-29","value":0.05412255147329598},{"time":"2021-09-29","value":0.046152970559643486},{"time":"2022-09-29","value":0.04149878143948974},{"time":"2023-09-29","value":0.047393014903249854}]}

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 3.3 million residential, commercial, public authority, and industrial customers. As of September 30, 2022, it owned 73,243 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 reservoirs in Texas; and provides ancillary services customary to the pipeline industry, including parking arrangements, lending, and inventory sales. As of September 30, 2022, it owned 5,652 miles of gas transmission lines. Atmos Energy Corporation was founded in 1906 and is headquartered in Dallas, Texas.

Sector

  • CQP Logo

    CQP

  • EE Logo

    EE

  • LNG Logo

    LNG

  • NFE Logo

    NFE

  • NFG Logo

    NFG

  • NJR Logo

    NJR

  • NWN Logo

    NWN

  • OGS Logo

    OGS

Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$736.2M$957M$1.218B$1.515B$1.843B$2.192B$2.545B$2.884B$3.188B$3.436B$3.608B$36.08B
DCF$832.2M$920.6M$996.2M$1.054B$1.09B$1.1B$1.084B$1.042B$976.8M$891.9M$8.919B
Value$18.91B

In the chart Earnings are multiplied by this value.

Earnings Growth 13%
Earnings Stability 91%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years09-201509-201609-201709-201809-201909-202009-202109-202209-2023TTM
Net Margin7.6%14%14%19%18%21%20%18%21%23%
ROA6.9%6.7%6.8%6.1%5.6%5.4%4.6%4.1%4.7%4.8%
ROE9.8%10%10%13%8.9%8.8%8.4%8.2%8.1%8.2%

What is the average Net Margin?

The average Net Margin over the past 5 years is +19.48%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.21%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +5.11%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.34%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +9.19%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -0.71%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years09-201509-201609-201709-201809-201909-202009-202109-202209-2023TTM
Debt FCF-21.05-11.27-13.08-10.68-5.55-5.09-3.20-6.9610.4810.20
Debt Equity0.910.950.910.770.700.671.241.080.630.67
MIN
Graham Stability--100%100%100%100%100%100%100%100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 10.20.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 2.96.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years09-201609-201809-202009-2022Trend
Revenue8.2%6.5%15%1.8%4.4%
Net Income14%8%14%14%-0.029%
Stockholders Equity18%18%17%15%1.4%
FCF-----

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +6.53%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +4.41%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +8%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -0.03%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +17.91%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +1.39%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.