TXNM ENERGY INC
TXNM · Electric Services · 110.7M shares · +2%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $2M (gross $10M, SBC $7M)
Reference price $57.74 · est. market cap ~$6.4B — last insider sale, 2025-11-14 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C57Below-average regulated electric utility with low returns and declining earnings.
Strengths
- Solid operating margin (20.6%, 48.4 pct) and double-digit revenue growth (9%, 50 pct)
- Regulated rate-base model provides revenue stability
Risks
- ROE 5.0% (31.4 pct), ROA 1.4% (25.6 pct), ROIC 4.1% (19.2 pct) — weak returns across the board
- Net income down 34% (23.1 pct); weak liquidity (quick ratio 4.5 pct) and elevated leverage (D/E 1.5)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.55 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
20.4%
Net margin
7.8%
Return on equity
5.0%
Return on assets
1.4%
ROIC
4.1%
Revenue growth (QoQ)
-5.3%
Net-income growth
-34.4%
Debt / equity
1.5×
Net debt / EBITDA
5.5×
Current ratio
0.6×
EBITDA
$925M
Tangible book value
$3.1B
Cash & investments
$18M
Stock comp / revenue
0.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-10 | Maestas Steven | Grant | 2.7K | — |
| 2026-06-10 | Montoya Lillian J | Grant | 2.7K | — |
| 2026-06-10 | BECKER NORMAN P. | Grant | 2.7K | — |
| 2026-06-10 | Gutierrez Sidney M. | Grant | 2.7K | — |
| 2026-06-10 | BAILEY VICKY A | Grant | 2.7K | — |
| 2026-06-10 | HUGHES JAMES ALTON | Grant | 2.7K | — |
| 2026-06-10 | MULLARKEY MAUREEN T | Grant | 2.7K | — |
| 2026-06-10 | CONLEY E RENAE | Grant | 2.7K | — |
| 2026-03-07 | Bischoff Gerald R | Option exercise | 169 | — |
| 2026-03-07 | Bischoff Gerald R | Tax withheld | 86 | $58.88 |
| 2026-03-07 | Bischoff Gerald R | Option exercise | 323 | — |
| 2026-03-07 | Bischoff Gerald R | Tax withheld | 164 | $58.88 |
| 2026-03-07 | Bischoff Gerald R | Option exercise | 296 | — |
| 2026-03-07 | Bischoff Gerald R | Tax withheld | 150 | $58.88 |
| 2026-03-07 | Monroy Henry E | Option exercise | 311 | — |
| 2026-03-07 | Monroy Henry E | Tax withheld | 158 | $58.88 |
| 2026-03-07 | Monroy Henry E | Option exercise | 181 | — |
| 2026-03-07 | Monroy Henry E | Tax withheld | 92 | $58.88 |
| 2026-03-07 | Monroy Henry E | Option exercise | 500 | — |
| 2026-03-07 | Monroy Henry E | Tax withheld | 253 | $58.88 |
| 2026-03-07 | TARRY JOSEPH DON | Option exercise | 1.7K | — |
| 2026-03-07 | TARRY JOSEPH DON | Tax withheld | 770 | $58.88 |
| 2026-03-07 | TARRY JOSEPH DON | Option exercise | 2.4K | — |
| 2026-03-07 | TARRY JOSEPH DON | Tax withheld | 1.1K | $58.88 |
| 2026-03-07 | TARRY JOSEPH DON | Option exercise | 3.1K | — |
| 2026-03-07 | TARRY JOSEPH DON | Tax withheld | 1.4K | $58.88 |
| 2026-03-07 | Iverson Brian | Option exercise | 1.2K | — |
| 2026-03-07 | Iverson Brian | Tax withheld | 414 | $58.88 |
| 2026-03-07 | COLLAWN PATRICIA K | Option exercise | 6.0K | — |
| 2026-03-07 | COLLAWN PATRICIA K | Tax withheld | 2.7K | $58.88 |
| 2026-03-07 | COLLAWN PATRICIA K | Option exercise | 8.6K | — |
| 2026-03-07 | COLLAWN PATRICIA K | Tax withheld | 3.9K | $58.88 |
| 2026-03-07 | COLLAWN PATRICIA K | Option exercise | 7.2K | — |
| 2026-03-07 | COLLAWN PATRICIA K | Tax withheld | 3.3K | $58.88 |
| 2025-12-17 | Jacobson Monique | Option exercise | 658 | — |
| 2025-12-17 | Jacobson Monique | Tax withheld | 298 | $58.71 |
| 2025-12-17 | Bischoff Gerald R | Option exercise | 638 | — |
| 2025-12-17 | Bischoff Gerald R | Tax withheld | 289 | $58.71 |
| 2025-12-17 | Monroy Henry E | Option exercise | 466 | — |
| 2025-12-17 | Monroy Henry E | Tax withheld | 211 | $58.71 |
| 2025-12-17 | TARRY JOSEPH DON | Option exercise | 9.4K | — |
| 2025-12-17 | TARRY JOSEPH DON | Tax withheld | 4.3K | $58.71 |
| 2025-12-17 | Iverson Brian | Option exercise | 2.3K | — |
| 2025-12-17 | Iverson Brian | Tax withheld | 710 | $58.71 |
| 2025-12-17 | COLLAWN PATRICIA K | Option exercise | 27K | — |
| 2025-12-17 | COLLAWN PATRICIA K | Tax withheld | 12K | $58.71 |
| 2025-12-01 | TARRY JOSEPH DON | Option exercise | 13K | — |
| 2025-12-01 | TARRY JOSEPH DON | Tax withheld | 6.0K | $58.40 |
| 2025-11-14 | BAILEY VICKY A | Sell | 1.8K | $57.74 |
| 2025-09-16 | Iverson Brian | Option exercise | 4.7K | — |
| 2025-09-16 | Iverson Brian | Tax withheld | 1.4K | $56.63 |
| 2025-05-13 | Maestas Steven | Grant | 2.7K | — |
| 2025-05-13 | Montoya Lillian J | Grant | 2.7K | — |
| 2025-05-13 | MULLARKEY MAUREEN T | Grant | 2.7K | — |
| 2025-05-13 | HUGHES JAMES ALTON | Grant | 2.7K | — |
| 2025-05-13 | Gutierrez Sidney M. | Grant | 2.7K | — |
| 2025-05-13 | CONLEY E RENAE | Grant | 2.7K | — |
| 2025-05-13 | BAILEY VICKY A | Grant | 2.7K | — |
| 2025-05-13 | BECKER NORMAN P. | Grant | 2.7K | — |
| 2025-03-07 | TARRY JOSEPH DON | Option exercise | 2.4K | — |
| 2025-03-07 | TARRY JOSEPH DON | Tax withheld | 1.1K | $47.78 |
| 2025-03-07 | TARRY JOSEPH DON | Option exercise | 1.7K | — |
| 2025-03-07 | TARRY JOSEPH DON | Tax withheld | 770 | $47.78 |
| 2025-03-07 | TARRY JOSEPH DON | Option exercise | 795 | — |
| 2025-03-07 | TARRY JOSEPH DON | Tax withheld | 360 | $47.78 |
| 2025-03-07 | Eden Elisabeth A | Option exercise | 651 | — |
| 2025-03-07 | Eden Elisabeth A | Tax withheld | 295 | $47.78 |
| 2025-03-07 | Eden Elisabeth A | Option exercise | 357 | — |
| 2025-03-07 | Eden Elisabeth A | Tax withheld | 162 | $47.78 |
| 2025-03-07 | Eden Elisabeth A | Option exercise | 926 | — |
| 2025-03-07 | Eden Elisabeth A | Tax withheld | 420 | $47.78 |
| 2025-03-07 | Bischoff Gerald R | Option exercise | 323 | — |
| 2025-03-07 | Bischoff Gerald R | Tax withheld | 144 | $47.78 |
| 2025-03-07 | Bischoff Gerald R | Option exercise | 169 | — |
| 2025-03-07 | Bischoff Gerald R | Tax withheld | 76 | $47.78 |
| 2025-03-07 | Bischoff Gerald R | Option exercise | 129 | — |
| 2025-03-07 | Bischoff Gerald R | Tax withheld | 59 | $47.78 |
| 2025-03-07 | COLLAWN PATRICIA K | Option exercise | 8.6K | — |
| 2025-03-07 | COLLAWN PATRICIA K | Tax withheld | 3.9K | $47.78 |
| 2025-03-07 | COLLAWN PATRICIA K | Option exercise | 6.0K | — |
| 2025-03-07 | COLLAWN PATRICIA K | Tax withheld | 2.7K | $47.78 |
| 2025-03-07 | COLLAWN PATRICIA K | Option exercise | 6.0K | — |
| 2025-03-07 | COLLAWN PATRICIA K | Tax withheld | 2.7K | $47.78 |
| 2025-02-26 | TARRY JOSEPH DON | Option exercise | 7.3K | — |
| 2025-02-26 | TARRY JOSEPH DON | Tax withheld | 3.4K | $51.69 |
| 2025-02-26 | Iverson Brian | Option exercise | 545 | — |
| 2025-02-26 | Iverson Brian | Tax withheld | 194 | $51.69 |
| 2025-02-26 | Eden Elisabeth A | Option exercise | 2.8K | — |
| 2025-02-26 | Eden Elisabeth A | Tax withheld | 1.3K | $51.69 |
| 2025-02-26 | Bischoff Gerald R | Option exercise | 328 | — |
| 2025-02-26 | Bischoff Gerald R | Tax withheld | 166 | $51.69 |
| 2025-02-26 | COLLAWN PATRICIA K | Option exercise | 30K | — |
| 2025-02-26 | COLLAWN PATRICIA K | Tax withheld | 14K | $51.69 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Shareholder vote | filing ↗ |
| 2026-03-31 | Other | filing ↗ |
| 2026-03-03 | Exec/director change | filing ↗ |
| 2026-03-03 | Material agreementExhibits | filing ↗ |
| 2026-01-02 | Other | filing ↗ |
| 2025-12-10 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-11-18 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-11-06 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-11 | 0001108426-26-000033 ↗ |
| 8-K | 2026-03-31 | 2026-03-31 | 0001108426-26-000014 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001108426-26-000012 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001108426-26-000010 ↗ |
| 8-K | 2026-01-02 | 2026-01-02 | 0001108426-26-000002 ↗ |
| 8-K | 2025-12-10 | 2025-12-10 | 0001108426-25-000120 ↗ |
| 8-K | 2025-11-18 | 2025-11-18 | 0001108426-25-000116 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001108426-25-000112 ↗ |
| 8-K | 2025-09-02 | 2025-09-02 | 0001108426-25-000104 ↗ |
| 8-K | 2025-08-28 | 2025-08-28 | 0001108426-25-000102 ↗ |
| 8-K | 2025-08-15 | 2025-08-15 | 0001108426-25-000094 ↗ |
| 8-K | 2025-07-23 | 2025-07-23 | 0001108426-25-000076 ↗ |