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▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
In fiscal 2025, TXNM ENERGY INC recorded $2.17B of revenue, net income of $151.36M, and an operating cash inflow of $584.49M. At $2.17B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $1.97B in fiscal 2024, revenue recorded a 9.9% year-over-year increase. On a per-share basis, diluted EPS was $1.48, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 44.6% decrease from fiscal 2024 diluted EPS of $2.67. The revenue-to-assets relationship was 0.18x, showing the sales generated relative to the resources carried on the balance sheet.Profitability
Operations produced $441.18M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 20.4% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $151.36M for the fiscal year. Measured against reported revenue, net income produced a 7.0% margin after operating costs and the remaining recognized items. The earnings statement records $180.01M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 8.3%, relating income before taxes directly to revenue. Income tax expense totaled $10.19M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 5.7% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 4.4% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 1.3%, connecting net income with the company’s total asset base.Liquidity and Capital Structure
The company held $12.06B of assets against $8.60B of liabilities and $3.45B of equity, revealing how the asset base was financed. Current assets were $564.66M against $1.02B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 0.55x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Cash and equivalents totaled $18.26M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 1.8%, excluding receivables and other current assets. The company carried $5.42B of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 1.57x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 44.9%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 71.3%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 0.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 7.6% from $11.21B in fiscal 2024, leaving current total assets higher year over year.Cash Flow and Earnings Quality
The company reported $584.49M of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 3.86x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $1.20B, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 204.6%, connecting investment intensity with the company’s cash-generation base. Negative free cash flow was $611.43M, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -28.2%, reflecting a cash deficit equal to 28.2% of revenue after capital spending. The cash deficit after capital spending represented 5.1% of the period-end asset base.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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