회사 개요
Atmos Energy Corporation is a prominent entity within the Utilities sector, specifically operating in the Regulated Gas industry by engaging in regulated natural gas distribution and pipeline storage activities across the United States. The company's operational scale is substantial, evidenced by a market capitalization of $31.81B and annual revenue of $4.87B, while employing a workforce of 5487 individuals. These financial metrics indicate that Atmos Energy holds a significant position in its niche, reflecting the capital-intensive nature of infrastructure development and maintenance required for regulated utility services. The distinction between its Distribution and Pipeline and Storage segments highlights a diversified approach to serving residential, commercial, and industrial customers through a robust network of infrastructure assets.
재무 건전성
The company reported a revenue of $4.87B for the trailing twelve months, generating net income of $1.25B and an EBITDA of $2.39B, which reveals a cost structure where operational expenses consume a significant portion of gross receipts before reaching the bottom line. However, the reported free cash flow stands at -$1,871,672,832, indicating a temporary cash outflow likely driven by capital expenditures necessary for maintaining and expanding the regulated gas network rather than an immediate inability to generate liquidity. Profitability is supported by a gross margin of 57.8%, an operating margin of 38.8%, and a profit margin of 25.7%, suggesting efficient cost management relative to the high fixed-cost environment of utility distribution. On the balance sheet, the company holds cash of $367.02M against total debt of $9.63B, resulting in a debt-to-equity ratio of 67.44%, which characterizes the financial structure as leveraged yet typical for capital-heavy utility firms. Short-term liquidity is assessed via a current ratio of 1.13, indicating that current assets slightly exceed current liabilities, providing a modest buffer for immediate obligations. Management effectiveness is further quantified by a return on equity of 9.2% and a return on assets of 3.6%, metrics that reflect the steady, albeit moderate, returns generated on the substantial equity and asset base required for regulated operations.
밸류에이션 평가
Valuation multiples for Atmos Energy show a trailing P/E ratio of 25.07 compared to a forward P/E of 21.77, implying that the market expects earnings growth that will bring future valuations closer to current price levels. The price-to-book ratio is recorded at 2.23, indicating that the stock trades at a premium over its book value, a common characteristic for regulated utilities with intangible regulatory advantages and stable cash flows. Alternative valuation metrics such as a price-to-sales ratio of 6.53 and an EV/EBITDA of 17.18 provide additional context, suggesting the market prices the company based on both revenue stability and earnings power relative to enterprise value. Regarding trading range, the stock has a 52-week high of $192.51 and a 52-week low of $142.54, meaning the current market price sits within this historical band but fluctuates based on sector-specific performance and interest rate environments. The beta value of 0.69 indicates that the stock exhibits lower volatility relative to the broader market, aligning with the defensive nature of utility equities that often move less sharply than the S&P 500.
Growth & Income
Revenue growth for the trailing twelve months is recorded at 14.2%, while earnings growth stands at 9.4%, revealing that earnings are expanding at a slower pace than revenue, which suggests that cost increases or margin compression may be partially offsetting the top-line expansion. As a dividend payer, the company offers a dividend yield of 2.1% with a payout ratio of 47.1%, a level that generally appears sustainable given the consistent cash generation typical of regulated gas distribution businesses despite the recent negative free cash flow figure. The moderate payout ratio allows the company to return capital to shareholders while retaining sufficient earnings to fund infrastructure maintenance and regulatory compliance requirements. Overall, the growth and income profile reflects a mature utility asset with steady revenue expansion and a disciplined approach to capital allocation through both dividends and necessary reinvestment in the distribution network.