PNM · Pnm Resources Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.17B | $1.97B | $1.94B | $2.25B | $1.78B | $1.52B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | $655.83M | $606.73M | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $274.45M | $247.12M | $227.90M | $227.15M | $230.29M | $216.33M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $483.38M | $423.01M | $353.69M | $341.12M | $320.21M | $314.67M |
| Operating Income | $441.18M | $453.49M | $231.34M | $393.76M | $308.15M | $285.28M |
| Interest Expense | $271.52M | $228.07M | $190.35M | $127.91M | $96.88M | $114.39M |
| Income Tax | $10.19M | $21.52M | ($16.35M) | $26.13M | $32.58M | $20.64M |
| Net Income | $169.83M | $258.72M | $106.88M | $185.18M | $211.85M | $172.78M |
| EPS - Basic | $1.49 | $2.67 | $1.02 | $1.97 | $2.28 | $2.16 |
| EPS - Diluted | $1.48 | $2.67 | $1.02 | $1.97 | $2.27 | $2.15 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $18.26M | $4.50M | $2.21M | $4.08M | $1.10M | $47.93M |
| Accounts Receivable | $151.80M | $130.35M | $126.29M | $183.67M | $123.29M | $113.41M |
| Inventory | $181.32M | $166.86M | $98.03M | $66.73M | $65.06M | $66.42M |
| Accounts Payable | $243.06M | $204.47M | $205.18M | $215.71M | $172.59M | $169.32M |
| Current Assets | $564.66M | $498.84M | $475.54M | $410.98M | $324.60M | $377.48M |
| Total Assets | $12.06B | $11.21B | $10.25B | $9.26B | $8.67B | $7.94B |
| Current Liabilities | $1.02B | $1.78B | $1.23B | $890.37M | $664.21M | $977.66M |
| Long-term Debt | $5.12B | $4.31B | $4.24B | $3.89B | $3.52B | $2.72B |
| Total Liabilities | $8.60B | $8.62B | $7.84B | $7.00B | $6.43B | $5.82B |
| Stockholders' Equity | $3.40B | $2.54B | $2.35B | $2.19B | $2.17B | $2.05B |
| Retained Earnings | $866.90M | $887.65M | $787.11M | $828.88M | $810.20M | $698.71M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $584.49M | $508.16M | $551.17M | $567.28M | $547.87M | $485.70M |
| Investing Cash Flow | ($1.22B) | ($1.17B) | ($1.09B) | ($950.35M) | ($952.26M) | ($733.80M) |
| Financing Cash Flow | $642.52M | $684.35M | $537.10M | $386.04M | $357.56M | $292.19M |
| CapEx | $1.20B | $1.25B | $1.08B | $912.56M | $935.02M | $679.03M |
| Free Cash Flow | ($611.43M) | ($738.88M) | ($524.64M) | ($345.27M) | ($387.14M) | ($193.33M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | 33.8% | 27.0% | - | - |
| Operating margin | 20.4% | 23.0% | 11.9% | 17.5% | 17.3% | 18.7% |
| EBITDA margin | 42.7% | 44.5% | 30.2% | 32.7% | 35.3% | 39.4% |
| Net margin | 7.8% | 13.1% | 5.5% | 8.2% | 11.9% | 11.3% |
| Free cash flow margin | -28.2% | -37.5% | -27.1% | -15.3% | -21.8% | -12.7% |
| FCF / Net income | -3.60 | -2.86 | -4.91 | -1.86 | -1.83 | -1.12 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 12.7% | 12.5% | 11.8% | 10.1% | 12.9% | 14.2% |
| Effective tax rate | 5.7% | 7.7% | -18.1% | 12.4% | 13.3% | 10.7% |
| Return on assets | 1.4% | 2.3% | 1.0% | 2.0% | 2.4% | 2.2% |
| Return on equity | 5.0% | 10.2% | 4.5% | 8.4% | 9.8% | 8.4% |
| Return on invested capital | 4.9% | 6.1% | 3.5% | 5.7% | 4.7% | 5.3% |
| Liquidity | ||||||
| Current ratio | 0.55 | 0.28 | 0.39 | 0.46 | 0.49 | 0.39 |
| Quick ratio | 0.38 | 0.19 | 0.31 | 0.39 | 0.39 | 0.32 |
| Cash ratio | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 |
| Leverage | ||||||
| Debt / Equity | 1.50 | 1.70 | 1.81 | 1.78 | 1.62 | 1.33 |
| Debt / Assets | 0.42 | 0.38 | 0.41 | 0.42 | 0.41 | 0.34 |
| Debt / EBITDA | 5.53 | 4.92 | 7.25 | 5.30 | 5.60 | 4.53 |
| Interest coverage | 1.6x | 2.0x | 1.2x | 3.1x | 3.2x | 2.5x |
| Equity multiplier | 3.54 | 4.42 | 4.36 | 4.22 | 4.00 | 3.87 |
| Liabilities / Assets | 0.71 | 0.77 | 0.76 | 0.76 | 0.74 | 0.73 |
| Efficiency | ||||||
| Asset turnover | 0.18 | 0.18 | 0.19 | 0.24 | 0.21 | 0.19 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 26d | 24d | 24d | 30d | 25d | 27d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 9.9% | 1.7% | -13.8% | 26.4% | 16.9% | 4.5% |
| Revenue CAGR (3y) | -1.3% | 3.5% | 8.4% | 15.6% | 9.3% | - |
| Revenue CAGR (5y) | 7.3% | 6.2% | 7.3% | - | - | - |
| Gross profit growth (YoY) | - | - | 8.1% | - | - | - |
| Operating income growth (YoY) | -2.7% | 96.0% | -41.2% | 27.8% | 8.0% | 97.8% |
| Net income growth (YoY) | -34.4% | 142.1% | -42.3% | -12.6% | 22.6% | 123.3% |
| EPS growth (YoY) | -44.6% | 161.8% | -48.2% | -13.2% | 5.6% | 121.6% |
| EPS CAGR (3y) | -9.1% | 5.6% | -22.0% | 26.6% | 28.5% | 29.1% |
| EPS CAGR (5y) | -7.2% | 22.4% | -1.0% | 14.5% | 9.2% | 60.8% |
| FCF growth (YoY) | 17.2% | -40.8% | -51.9% | 10.8% | -100.3% | -70.9% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 34.2% | 8.0% | 7.2% | 1.1% | 5.8% | 22.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$1.74B totalElectricity$1.48B · 85.4%
Electric Transmission Service$149.67M · 8.6%
Wholesale Energy Sales$97.75M · 5.6%
Miscellaneous Revenue From Contracts With Customers$6.34M · 0.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.49
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Electric Services
Comparing PNM RESOURCES INC against the 5 most active filers in the same SIC group.