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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $504.98M | - | $656.29M | $502.42M | $482.79M | - | $574.32M | $488.10M | $436.88M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | $297.27M | $198.50M | $175.93M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $66.91M | - | $68.44M | $75.99M | $60.77M | - | $64.84M | $59.58M | $55.43M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $125.43M | - | - | - | $114.30M | - | - | - | $103.00M | - |
| Operating Income | $77.01M | - | $202.87M | $72.70M | $71.89M | - | $191.08M | $105.68M | $80.59M | - |
| Interest Expense | $68.59M | - | $70.15M | $72.01M | $63.55M | - | $59.66M | $55.83M | $53.76M | - |
| Income Tax | ($9.0K) | - | $18.95M | $1.33M | $1.02M | - | $23.42M | $8.97M | ($12.57M) | - |
| Net Income | $3.74M | - | $130.71M | $21.58M | $8.92M | - | $131.20M | $48.05M | $47.19M | - |
| EPS - Basic | $0.03 | - | $1.22 | $0.22 | $0.10 | - | $1.45 | $0.53 | $0.52 | - |
| EPS - Diluted | $0.03 | - | $1.22 | $0.22 | $0.10 | - | $1.45 | $0.53 | $0.52 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.62M | $18.26M | $32.07M | $22.17M | $6.05M | $4.50M | $7.24M | $3.23M | $2.99M | $2.21M |
| Accounts Receivable | $135.93M | $151.80M | $190.91M | $146.44M | $132.38M | $130.35M | $149.83M | $121.76M | $105.00M | $126.29M |
| Inventory | $189.51M | $181.32M | $172.99M | $171.17M | $168.24M | $166.86M | $120.52M | $115.14M | $104.49M | $98.03M |
| Accounts Payable | $157.44M | $243.06M | $154.42M | $147.65M | $163.13M | $204.47M | $136.44M | $140.30M | $133.47M | $205.18M |
| Current Assets | $562.22M | $564.66M | $595.44M | $573.73M | $489.41M | $498.84M | $495.69M | $537.65M | $407.84M | $475.54M |
| Total Assets | $12.14B | $12.06B | $11.97B | $11.68B | $11.39B | $11.21B | $10.84B | $10.58B | $10.26B | $10.25B |
| Current Liabilities | $1.02B | $1.02B | $1.18B | $1.12B | $1.69B | $1.78B | $1.37B | $1.14B | $1.11B | $1.23B |
| Long-term Debt | $5.11B | $5.12B | $4.68B | $4.78B | $4.58B | $4.31B | $4.51B | $4.60B | $4.36B | $4.24B |
| Total Liabilities | $8.61B | $8.60B | $8.50B | $8.45B | $8.83B | $8.62B | $8.32B | $8.12B | $7.84B | $7.84B |
| Stockholders' Equity | $3.46B | $3.40B | $3.42B | $3.17B | $2.50B | $2.54B | $2.46B | $2.40B | $2.36B | $2.35B |
| Retained Earnings | $823.87M | $866.90M | $924.21M | $879.39M | $857.81M | $887.65M | $908.69M | $847.40M | $799.35M | $787.11M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $153.19M | - | - | - | $141.26M | - | - | - | $92.82M | - |
| Investing Cash Flow | ($315.35M) | - | - | - | ($345.01M) | - | - | - | ($184.36M) | - |
| Financing Cash Flow | $142.05M | - | - | - | $197.56M | - | - | - | $99.51M | - |
| CapEx | $312.72M | - | - | - | $342.62M | - | - | - | $289.10M | - |
| Free Cash Flow | ($159.53M) | - | - | - | ($201.37M) | - | - | - | ($196.28M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | 51.8% | 40.7% | 40.3% | - |
| Operating margin | 15.3% | - | 30.9% | 14.5% | 14.9% | - | 33.3% | 21.7% | 18.4% | - |
| EBITDA margin | 40.1% | - | - | - | 38.6% | - | - | - | 42.0% | - |
| Net margin | 0.7% | - | 19.9% | 4.3% | 1.8% | - | 22.8% | 9.8% | 10.8% | - |
| Free cash flow margin | -31.6% | - | - | - | -41.7% | - | - | - | -44.9% | - |
| FCF / Net income | -42.69 | - | - | - | -22.57 | - | - | - | -4.16 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.3% | - | 10.4% | 15.1% | 12.6% | - | 11.3% | 12.2% | 12.7% | - |
| Effective tax rate | -0.2% | - | 12.7% | 5.8% | 10.2% | - | 15.1% | 15.7% | -36.3% | - |
| Return on assets | 0.0% | - | 1.1% | 0.2% | 0.1% | - | 1.2% | 0.5% | 0.5% | - |
| Return on equity | 0.1% | - | 3.8% | 0.7% | 0.4% | - | 5.3% | 2.0% | 2.0% | - |
| Return on invested capital | 0.9% | - | 2.2% | 0.9% | 0.9% | - | 2.3% | 1.3% | 1.2% | - |
| Liquidity | ||||||||||
| Current ratio | 0.55 | 0.55 | 0.51 | 0.51 | 0.29 | 0.28 | 0.36 | 0.47 | 0.37 | 0.39 |
| Quick ratio | 0.36 | 0.38 | 0.36 | 0.36 | 0.19 | 0.19 | 0.27 | 0.37 | 0.27 | 0.31 |
| Cash ratio | 0.01 | 0.02 | 0.03 | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
| Leverage | ||||||||||
| Debt / Equity | 1.48 | 1.50 | 1.37 | 1.51 | 1.83 | 1.70 | 1.83 | 1.91 | 1.85 | 1.81 |
| Debt / Assets | 0.42 | 0.42 | 0.39 | 0.41 | 0.40 | 0.38 | 0.42 | 0.43 | 0.42 | 0.41 |
| Debt / EBITDA | 25.25 | - | - | - | 24.61 | - | - | - | 23.72 | - |
| Interest coverage | 1.1x | - | 2.9x | 1.0x | 1.1x | - | 3.2x | 1.9x | 1.5x | - |
| Equity multiplier | 3.50 | 3.54 | 3.50 | 3.68 | 4.55 | 4.42 | 4.41 | 4.40 | 4.35 | 4.36 |
| Liabilities / Assets | 0.71 | 0.71 | 0.71 | 0.72 | 0.78 | 0.77 | 0.77 | 0.77 | 0.76 | 0.76 |
| Efficiency | ||||||||||
| Asset turnover | 0.04 | - | 0.05 | 0.04 | 0.04 | - | 0.05 | 0.05 | 0.04 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 98d | - | 106d | 106d | 100d | - | 95d | 91d | 88d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.6% | - | 14.3% | 2.9% | 10.5% | - | 12.6% | 2.3% | -19.7% | - |
| Revenue CAGR (3y) | -2.5% | - | -3.5% | - | -1.1% | - | 1.2% | 4.6% | 6.2% | - |
| Revenue CAGR (5y) | 6.7% | - | 6.8% | 7.0% | 7.7% | - | 5.8% | 8.1% | 4.6% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | 67.8% | 9.3% | -5.8% | - |
| Operating income growth (YoY) | 7.1% | - | 6.2% | -31.2% | -10.8% | - | 120.5% | 14.5% | -18.7% | - |
| Net income growth (YoY) | -58.1% | - | -0.4% | -55.1% | -81.1% | - | 247.8% | 6.1% | -14.2% | - |
| EPS growth (YoY) | -70.0% | - | -15.9% | -58.5% | -80.8% | - | 229.5% | 0.0% | -18.8% | - |
| EPS CAGR (3y) | -63.9% | - | -4.9% | - | -17.8% | - | 3.2% | -5.1% | 37.5% | - |
| EPS CAGR (5y) | -31.6% | - | -4.3% | -21.1% | - | - | 2.5% | - | 17.7% | - |
| FCF growth (YoY) | 20.8% | - | - | - | -2.6% | - | - | - | -47.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 38.4% | 34.2% | 38.9% | 32.0% | 6.3% | 8.0% | 10.1% | 6.2% | 6.5% | 7.2% |
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%
Peer comparison
Same SIC group: Electric Services
Comparing PNM RESOURCES INC against the 5 most active filers in the same SIC group.