Explain this page
Arphra AIPlain-English read on Atmos Energy Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +49.77% | +43.05% | +48.14% | +57.92% | +52.37% | +51.70% | +53.96% | +53.54% | +52.72% |
| Operating margin | +26.56% | +21.92% | +24.96% | +32.54% | +33.17% | +29.73% | +29.81% | +30.74% | +30.38% |
| EBITDA margin | +40.52% | +35.47% | +40.73% | +50.33% | +50.70% | +47.05% | +48.14% | +48.59% | +48.50% |
| EBIT margin | +26.50% | +22.72% | +26.59% | +34.25% | +35.08% | +32.92% | +31.94% | +31.74% | +31.66% |
| Pre-tax margin | +24.04% | +20.28% | +23.38% | +29.67% | +31.43% | +27.87% | +28.37% | +27.57% | +28.56% |
| Net margin | +19.53% | +18.43% | +20.71% | +25.04% | +25.49% | +23.38% | +23.96% | +24.20% | +24.37% |
| Cost structure | |||||||||
| Cost of revenue / sales | +50.23% | +56.95% | +51.86% | +42.08% | +47.63% | +46.61% | +46.96% | +47.02% | +47.96% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Effective tax rate | +18.76% | +9.10% | +11.38% | +15.61% | +18.90% | +15.82% | +14.84% | +15.28% | +14.91% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +8.42% | +8.22% | +8.14% | +8.58% | +8.84% | +8.63% | +8.60% | +8.49% | +8.77% |
| Return on assets (ROA) | +3.39% | +3.49% | +3.93% | +4.14% | +4.15% | +4.14% | +4.06% | +4.14% | +4.20% |
| Return on capital (ROC) | +5.85% | +5.18% | +5.93% | +6.68% | +6.82% | +6.51% | +6.44% | +6.54% | +6.53% |
| Return on invested capital (ROIC) | +4.30% | +4.35% | +4.92% | +5.14% | +5.24% | +5.12% | +5.18% | +5.15% | +5.24% |
| Asset turnover | +17.38% | +18.93% | +18.99% | +16.53% | +16.27% | +17.69% | +16.95% | +17.12% | +17.25% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +19.53% | +18.43% | +20.71% | +25.04% | +25.49% | +23.38% | +23.96% | +24.20% | +24.37% |
| Asset turnover (× revenue / assets) | +17.38% | +18.93% | +18.99% | +16.53% | +16.27% | +17.69% | +16.95% | +17.12% | +17.25% |
| Equity multiplier (× assets / equity) | +247.99% | +235.62% | +207.15% | +207.23% | +213.19% | +208.76% | +211.63% | +204.95% | +208.62% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.17 | 0.19 | 0.19 | 0.17 | 0.16 | 0.18 | 0.17 | 0.17 | 0.17 |
| Fixed-asset turnover | 0.22 | 0.24 | 0.22 | 0.19 | 0.18 | — | — | — | — |
| Inventory turnover | 8.84 | 6.23 | 7.91 | 9.40 | 11.68 | — | — | — | — |
| Receivables turnover | 9.94 | 11.19 | 12.48 | 10.95 | 12.23 | — | — | — | — |
| Payables turnover | 7.61 | 9.26 | 10.16 | 5.13 | 5.88 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 36.74 | 32.63 | 29.25 | 33.32 | 29.84 | — | — | — | — |
| Days inventory outstanding (DIO) | 41.30 | 58.55 | 46.12 | 38.83 | 31.26 | — | — | — | — |
| Days payables outstanding (DPO) | 47.95 | 39.43 | 35.92 | 71.21 | 62.09 | — | — | — | — |
| Cash conversion cycle | 30.09 | 51.75 | 39.44 | 0.94 | -0.99 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -1.63 | 1.26 | 3.91 | 1.66 | 1.71 | 2.38 | 2.25 | 2.29 | 2.25 |
| FCF / Net income | -4.59 | -1.89 | 0.74 | -1.15 | -1.26 | -0.67 | -0.63 | -0.62 | -0.61 |
| FCF margin | -89.62% | -34.91% | +15.29% | -28.89% | -32.15% | -15.61% | -15.02% | -15.03% | -14.84% |
| OCF margin | -31.82% | +23.27% | +80.92% | +41.62% | +43.58% | +55.55% | +53.83% | +55.45% | +54.73% |
| CapEx / Revenue | +57.80% | +58.18% | +65.63% | +70.52% | +75.73% | +69.62% | +71.35% | +70.79% | +72.17% |
| CapEx / D&A | 4.12 | 4.56 | 4.64 | 4.38 | 4.85 | — | — | — | — |
| Stock-based comp / Revenue | +0.33% | +0.26% | +0.24% | +0.26% | +0.27% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 5.12 | 5.61 | 6.10 | 6.83 | 7.46 | 8.39 | 8.96 | 9.72 | 10.56 |
| EPS · basic | 5.12 | 5.62 | 6.10 | 6.83 | 7.54 | 8.53 | 9.03 | 9.62 | 10.50 |
| Book value / share | 60.90 | 68.21 | 74.88 | 79.64 | 84.44 | 88.18 | 98.21 | 108.63 | 119.92 |
| Tangible BV / share | 55.27 | 62.91 | 69.21 | 74.30 | 79.42 | 88.18 | 98.21 | 108.63 | 119.92 |
| Sales / share | 26.24 | 30.43 | 29.45 | 27.28 | 29.29 | 32.56 | 35.23 | 38.11 | 43.17 |
| Operating CF / share | -8.35 | 7.08 | 23.83 | 11.36 | 12.76 | 18.09 | 18.96 | 21.13 | 23.63 |
| Free cash flow / share | -23.52 | -10.62 | 4.50 | -7.88 | -9.42 | -5.08 | -5.29 | -5.73 | -6.41 |
| Dividends / share | 2.49 | 2.72 | 2.96 | 3.23 | 3.45 | 3.68 | 3.86 | 4.21 | 4.73 |
| Payout ratio | +48.67% | +48.54% | +48.61% | +47.27% | +46.19% | +48.28% | +45.76% | +45.68% | +44.97% |
| Retention ratio | +51.33% | +51.46% | +51.39% | +52.73% | +53.81% | +51.72% | +54.24% | +54.32% | +55.03% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +23.31% | +1.75% | -2.58% | +12.91% | +11.62% | +6.95% | +8.64% | +13.77% | +9.30% |
| Gross profit · YoY | — | +6.67% | +13.79% | +17.20% | +2.10% | +10.19% | +11.63% | +7.77% | +12.04% | +10.09% |
| Profit | ||||||||||
| Operating income · YoY | — | +1.77% | +15.87% | +27.01% | +15.10% | +0.05% | +7.22% | +12.02% | +12.43% | +11.15% |
| EBITDA · YoY | — | +7.93% | +16.83% | +20.40% | +13.74% | +3.57% | +9.43% | +9.65% | +13.56% | +11.78% |
| Net income · YoY | — | +16.35% | +14.32% | +17.80% | +14.94% | +2.37% | +9.63% | +9.72% | +14.54% | +12.36% |
| Operating | ||||||||||
| EBIT · YoY | — | +5.74% | +19.08% | +25.46% | +15.65% | +4.74% | +3.78% | +7.97% | +13.47% | +11.76% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +9.57% | +8.73% | +11.97% | +9.22% | +12.41% | +6.84% | +8.48% | +8.66% | +9.47% |
| EPS · basic · YoY | — | +9.77% | +8.54% | +11.97% | +10.40% | +13.16% | +5.84% | +6.48% | +9.23% | +9.40% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $7.56B | $8.37B | $7.12B | $8.13B | $9.3B | $9.77B | $10.35B | $11.27B | $12.98B |
| Net debt | $7.45B | $8.32B | $7.11B | $7.82B | $9.1B | $9.56B | $10.12B | $11.02B | $12.71B |
| Net debt / EBITDA | 5.39 | 5.58 | 4.08 | 3.73 | 3.82 | 3.87 | 3.74 | 3.72 | 3.78 |
| Debt / equity | 0.96 | 0.89 | 0.66 | 0.67 | 0.69 | 0.69 | 0.66 | 0.65 | 0.67 |
| Debt / assets | +38.57% | +37.71% | +31.63% | +32.27% | +32.19% | +32.94% | +31.24% | +31.63% | +32.29% |
| Equity / assets | +40.32% | +42.44% | +48.27% | +48.26% | +46.91% | +47.90% | +47.25% | +48.79% | +47.93% |
| Coverage | |||||||||
| EBITDA / interest expense | 16.53 | 14.50 | 12.68 | 11.00 | 13.89 | 12.10 | 12.53 | 12.52 | 12.60 |
| Operating income / interest | 10.83 | 8.96 | 7.77 | 7.11 | 9.09 | 7.64 | 7.76 | 7.92 | 7.89 |
| Interest expense | $83.55M | $102.81M | $137.28M | $190.63M | $171.68M | $204.17M | $215.68M | $236.61M | $267.15M |
| Liquidity | |||||||||
| Current ratio | 0.81 | 0.85 | 0.65 | 0.94 | 0.67 | — | — | — | — |
| Quick ratio | 0.13 | 0.12 | 0.26 | 0.57 | 0.43 | — | — | — | — |
| Cash ratio | 0.03 | 0.01 | 0.01 | 0.25 | 0.15 | — | — | — | — |
| Working capital | -$671.64M | -$554.91M | -$466.82M | -$73.56M | -$450.55M | — | — | — | — |
| Working capital / revenue | -19.71% | -13.21% | -10.92% | -1.77% | -9.58% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).