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TXNM Energy
(NYSE:TXNM)
TXNM Energy (TXNM) vs. SPDR S&P 500 ETF (SPY)
TXNM Energy Business Overview & Revenue Model
TXNM Energy Earnings Call Summary
TXNM Energy Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.11B | 1.97B | 1.94B | 2.25B | 1.78B | 1.52B |
| Gross Profit | 801.17M | 810.16M | 627.10M | 714.73M | 625.65M | 584.24M |
| EBITDA | 953.94M | 929.21M | 627.71M | 682.44M | 663.84M | 639.95M |
| Net Income | 177.45M | 242.68M | 88.35M | 170.06M | 196.36M | 173.30M |
Balance Sheet | ||||||
| Total Assets | 11.97B | 11.55B | 10.59B | 9.63B | 9.02B | 8.33B |
| Cash, Cash Equivalents and Short-Term Investments | 32.07M | 4.50M | 2.21M | 4.08M | 1.10M | 47.93M |
| Total Debt | 5.75B | 5.83B | 4.99B | 4.39B | 3.87B | 3.46B |
| Total Liabilities | 8.50B | 8.95B | 8.18B | 7.37B | 6.78B | 6.21B |
| Stockholders Equity | 3.43B | 2.55B | 2.36B | 2.20B | 2.18B | 2.06B |
Cash Flow | ||||||
| Free Cash Flow | -642.21M | -738.88M | -524.64M | -345.27M | -387.14M | -193.33M |
| Operating Cash Flow | 585.43M | 508.16M | 551.17M | 567.28M | 547.87M | 485.70M |
| Investing Cash Flow | -1.26B | -1.17B | -1.09B | -950.35M | -952.26M | -733.80M |
| Financing Cash Flow | 697.15M | 684.35M | 537.10M | 386.04M | 357.56M | 292.19M |
TXNM Energy Technical Analysis
TXNM Energy Risk Analysis
TXNM Energy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $5.59B | 18.02 | 7.99% | 4.38% | 7.53% | -17.59% | |
67 Neutral | $8.97B | 17.50 | 10.69% | 3.82% | 18.03% | 29.46% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $7.28B | 23.11 | 9.41% | 2.72% | -1.58% | 8.49% | |
65 Neutral | $11.22B | 19.24 | 8.62% | 4.15% | 5.70% | -8.25% | |
60 Neutral | $6.44B | 34.57 | 6.02% | 2.80% | 10.65% | -10.67% | |
56 Neutral | $6.04B | 87.22 | 1.30% | 5.63% | -25.78% | -91.93% |
TXNM Energy Corporate Events
TXNM Energy has notified holders of its 5.75% Junior Subordinated Convertible Notes due 2054 that the notes will be convertible, at the holders’ option, during the first quarter 2026 conversion window from January 1 to March 31, 2026, at a rate equivalent to a conversion price of about $44.40 per share. Investors who elect to convert in that period will receive a mix of a new series of 5.75% non-convertible junior subordinated notes due 2054 equal to the principal amount converted, plus any excess conversion value in TXNM Energy common stock (and cash in lieu of fractional shares), meaning they will effectively exchange into less liquid 5.75% non-convertible notes that are expected to trade at a discount compared with more recently issued higher‑coupon junior subordinated debt. The company also reiterated that, under its previously announced May 18, 2025 merger agreement with an affiliate of Blackstone Infrastructure Partners, consummation of the merger would trigger a make‑whole fundamental change on the convertible notes, granting holders a separate right to convert into an all‑cash consideration based on the merger share price for a limited period after the effective date, although completion of the transaction remains contingent on regulatory and other customary approvals.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On December 18–19, 2025, TXNM Energy and its subsidiaries undertook a series of financing and liability-management actions, including TNMP’s private placement of $70 million of 4.69% first mortgage bonds due 2031 secured by a first lien on substantially all of TNMP’s property, with proceeds earmarked for repaying short-term debt and funding general corporate purposes and capital spending. Over the same period, TXNM, PNM and TNMP amended and partially extended their revolving credit agreements, with TXNM and PNM removing SOFR adjustments and extending maturities to March 29, 2030, and TNMP both extending its revolver and upsizing its facility from $200 million to $300 million backed by newly issued Series 2025I first mortgage bonds, while ensuring that the planned merger with Blackstone’s Troy ParentCo will not trigger change-of-control defaults under these facilities or the new TNMP bond indentures. In a separate move to reduce pension risk, on December 18, 2025 TXNM directed the trustee of the PNM Resources Employees’ Retirement Plan to pay a single premium of about $91.9 million to Delaware Life Insurance Company in exchange for a group annuity contract that transfers a portion of PNM’s pension obligations related to its previously sold gas distribution business, a transaction expected to result in a non-cash charge of roughly $60 million to PNM’s net income while shifting future benefit payment responsibilities to the insurer.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On December 10, 2025, TXNM Energy, Inc. issued $350 million in 7.000% Fixed-to-Fixed Reset Rate Junior Subordinated Convertible Notes due 2056. These notes are unsecured and rank junior to the company’s existing and future senior debt. The issuance allows TXNM Energy to manage its financial obligations with flexibility, as the company can defer interest payments for up to 20 consecutive semi-annual periods if needed. This financial maneuvering could impact the company’s liquidity and debt structure, potentially affecting stakeholders’ perceptions and the company’s market positioning.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On December 2, 2025, TXNM Energy, Inc. announced the commencement of marketing for a potential offering of fixed-to-fixed reset rate junior subordinated notes to institutional buyers and non-U.S. persons. The company is also evaluating a pension risk transfer transaction that could transfer up to $100 million of pension obligations from the PNM Resources, Inc. Employees’ Retirement Plan. This transaction, if completed, would result in a non-cash charge to net income of approximately $65 million. However, there is no assurance that either the notes offering or the pension transfer will be completed.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On November 18, 2025, TXNM Energy‘s subsidiary, TNMP, agreed to issue $70 million in First Mortgage Bonds due in 2031, with a 4.69% interest rate, in a private placement to institutional investors. The proceeds will be used for repaying short-term debt and other corporate purposes, with the bonds secured by a first mortgage lien on TNMP’s property. The issuance is subject to customary conditions and includes provisions for default and bond repurchase events.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On November 10, 2025, PNM, a subsidiary of TXNM Energy, entered into a $120 million term loan agreement to refinance its 2024 Term Loan. The loan includes covenants and default provisions, impacting PNM’s financial management and obligations.
The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.
On November 6, 2025, TNMP, a subsidiary of TXNM Energy, entered into the Twenty-Fifth Supplemental Indenture to amend various sections of its First Mortgage Indenture. These amendments include changes to financial reporting requirements, the definition of change in control, and the incorporation of a covenant for financial statement availability. TNMP secured the necessary consents from bondholders to proceed with these amendments, which may impact its operational transparency and stakeholder relations.
The most recent analyst rating on (TXNM) stock is a Hold with a $61.25 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.