Atmos Energy (ATO) stock
Utilities · Gas Utilities
Atmos Energy (ATO) is a Gas Utilities company in the Utilities sector, headquartered in Dallas, Texas. As of October 23, 2026, ATO closed at $172.21, a market capitalization of $29.10 billion, the 324th largest company in the S&P 500. Over the last twelve months it generated $4.92 billion in revenue (+5% year over year) and -$2.02 billion in free cash flow. The stock trades at 20.5x trailing earnings and 19.1x forward earnings.
- 1-year total return: +0.3% (dividends reinvested)
- 5-year return: +15.7% a year
- 52-week range: $154.72 – $192.51
- Gross margin 62.2%, operating margin 37.2%
- Dividend yield: 2.32%, 36 straight years of increases
- FI Handbook report card: C- across 10 metrics
- 17th largest of 31 Utilities stocks in the S&P 500
ATO price chart
1Y price change: -2.0% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ATO | +10.2% | +4.5% | +0.3% | +19.8% | +15.7% | +11.8% | +12.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1983.
ATO key statistics
- Market cap
- $29.1B
- #324 in S&P 500
- P/E (TTM)
- 20.5x
- Forward P/E
- 19.1x
- EPS (TTM)
- $8.39
- Revenue (TTM)
- $4.9B
- +5%
- Free cash flow
- -$2.0B
- Gross margin
- 62.2%
- Operating margin
- 37.2%
- Return on equity
- 9.8%
- Dividend yield
- 2.32%
- 52-week range
- $154.72 – $192.51
- Beta
- 0.57
- Price / sales
- 5.9x
- EV / EBITDA
- 14.8x
- Debt / equity
- 0.68x
- Employees
- 5,487
ATO report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth4.8%D
- Gross margin62.2%A
- Operating margin37.2%A
- FCF margin-41.1%F
- Return on equity9.8%D
- Net debt / EBITDA3.7xF
- Forward P/E19.1xB
- PEG ratio1.9xC
- Shareholder yield2.3%C
- Share count change / yr5.5%F
Atmos Energy financials
Revenue went from $2.5B in fiscal 2016 to $4.7B in fiscal 2025, growing 7.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $2.8B | $3.1B | $2.9B | $2.8B | $3.4B | $4.2B | $4.3B | $4.2B | $4.7B |
| Gross profit | $1.7B | — | $1.9B | $2.0B | $2.2B | $2.4B | $2.5B | $2.8B | — | — |
| Operating income | $657.2M | $735.6M | $727.9M | $746.1M | $824.1M | $905.0M | $921.0M | $1.1B | $1.4B | $1.6B |
| Net income | $350.1M | $396.4M | $603.1M | $511.4M | $601.4M | $665.6M | $774.4M | $885.9M | $1.0B | $1.2B |
| EPS (diluted) | $3.38 | $3.73 | $5.43 | $4.35 | $4.89 | $5.12 | $5.60 | $6.10 | $6.83 | $7.46 |
| Free cash flow | -$292.0M | -$270.0M | -$342.9M | -$724.7M | -$897.7M | -$3.1B | -$1.5B | $653.8M | -$1.2B | -$1.5B |
| Dividends paid | $175.1M | $191.9M | $214.9M | $245.7M | $282.4M | $323.9M | $375.9M | $430.3M | $492.9M | $553.8M |
| Diluted shares | 103.5M | 106.1M | 111.0M | 117.5M | 122.9M | 129.8M | 138.1M | 145.2M | 152.7M | 160.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ATO?
A reverse DCF asks what growth the current price requires. With an enterprise value of $38.9B and -$2.0B of trailing free cash flow, Atmos Energy needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 23.1x vs. median 22.0x (10th–90th percentile 18.8x–24.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ATO dividend
- Dividend yield
- 2.32%
- Annual dividend
- $4.00
- Years of increases
- 36
- 5-yr dividend growth
- 9.0%
- per year
- Payout ratio
- 46%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ATO analyst price targets
11 analysts' average 12-month target is $182.45 (+6% vs. $172.21). Targets range from $167.00 to $200.00. 14% rate it a buy.
ATO earnings
Next report: November 4, 2026. Atmos Energy has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $879.1M (+5% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $1.35 | $1.43 | +5.6% |
| May 6, 2026 | $3.41 | $3.47 | +1.8% |
| Feb 3, 2026 | $2.44 | $2.44 | +0.1% |
| Nov 6, 2025 | $1.00 | $1.07 | +6.8% |
| Aug 6, 2025 | $1.15 | $1.16 | +1.3% |
| May 7, 2025 | $2.88 | $3.03 | +5.3% |
| Feb 4, 2025 | $2.21 | $2.23 | +0.8% |
| Nov 18, 2024 | $0.81 | $0.83 | +2.7% |
Stocks like ATO
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NEE NextEra Energy | +0.24% | +1% | $172.2B | 14.8x | Compare |
 SO Southern | -0.99% | -0% | $106.9B | 22.4x | Compare |
 DUK Duke Energy Corporation (Holdin | -0.33% | +2% | $97.4B | 18.8x | Compare |
 CEG Constellation Energy Corporatio | -0.69% | -30% | $89.8B | 24.8x | Compare |
 AEP American Electric Power | -0.73% | +15% | $70.6B | 22.5x | Compare |
 D Dominion Energy | -0.31% | +12% | $57.3B | 22.6x | Compare |
 SRE DBA Sempra | -0.84% | -6% | $55.0B | 24.3x | Compare |
 ETR Entergy | -0.79% | +15% | $51.3B | 27.5x | Compare |
ATO news
- Atmos Energy (ATO) Bond Sale Puts Valuation Back In Focus · Oct 9, 2026
- Atmos Energy Corporation to Host Fiscal 2026 Year End Earnings Conference Call on November 5, 2026 · Oct 6, 2026
- OGS or ATO: Which Is the Better Value Stock Right Now? · Sep 28, 2026
- Is Atmos Energy Stock Underperforming the Dow? · Sep 21, 2026
- This Quiet Utility Has a Multi-Decade Dividend Growth Streak -- Here's Why Almost Nobody Talks About It · Sep 16, 2026
ATO stock FAQ
What is ATO's market cap?
Atmos Energy's market capitalization is $29.10 billion as of October 23, 2026, ranking 324th in the S&P 500.
What is ATO's P/E ratio?
ATO trades at a trailing price-to-earnings ratio of 20.5x and a forward P/E of 19.1x. Its median P/E over the period we track is 22.0x.
Does ATO pay a dividend?
Yes. Atmos Energy pays $4.00 per share a year, a 2.32% yield. It has raised its dividend 36 years in a row. Dividends grew 9.0% a year over the last five years.
How much has ATO stock returned?
Including reinvested dividends, ATO returned +0.3% over one year, +15.7% a year over five years, +11.8% a year over ten years through October 23, 2026.
What is the ATO price target?
11 analysts cover ATO with an average 12-month price target of $182.45, +6% from the current price. 14% of them rate it a buy.
When does ATO report earnings?
Atmos Energy is expected to report earnings on November 4, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Atmos Energy have?
Atmos Energy has about 5,487 full-time employees, or $896,943 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology