TXNM Energy Inc (TXNM) financial statements: income statement, balance sheet and cash flow

TXNM Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), TXNM Energy Inc reported net income of $169.8M (-34.4% year on year).

Income statement

TXNM Energy Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Electric Operating Revenues	$2.2B	$2.0B	$1.9B	$2.2B
Cost of energy	$814.4M	$677.7M	$893.9M	$1.1B
Administrative and general	$274.5M	$247.1M	$227.9M	$227.1M
Regulatory disallowances	($731.0K)	$9.0M	—	—
Depreciation and amortization	$425.6M	$384.9M	$319.5M	$304.9M
Transmission and distribution costs	$100.8M	$98.4M	$98.7M	$94.7M
Taxes other than income taxes	$109.9M	$100.6M	$95.9M	$93.0M
Total operating expenses	$1.7B	$1.5B	$1.7B	$1.9B
Operating income	$441.2M	$453.5M	$231.3M	$393.8M
Interest income	$20.1M	$23.5M	$22.0M	$16.1M
Gains on investment securities	$34.8M	$26.9M	$19.2M	($78.4M)
Other income	$29.1M	$28.6M	$24.2M	$21.6M
Other (deductions)	($73.5M)	($24.2M)	($15.9M)	($13.9M)
Net other income and (deductions)	$10.4M	$54.8M	$49.5M	($54.5M)
Interest Charges	$271.5M	$228.1M	$190.4M	$127.9M
Earnings before Income Taxes	$180.0M	$280.2M	$90.5M	$211.3M
Income Taxes (Benefits)	$10.2M	$21.5M	($16.4M)	$26.1M
Net Earnings	$169.8M	$258.7M	$106.9M	$185.2M
(Earnings) Attributable to Valencia Non-controlling Interest	($17.9M)	($16.0M)	($18.5M)	($15.1M)
Preferred Stock Dividend Requirements of Subsidiary	($528.0K)	($528.0K)	—	—
Net Earnings Available for PNM Common Stock	$151.4M	$242.2M	$87.8M	$169.5M
Basic (in dollars per share)	$1.49	$2.67	$1.02	$1.97
Diluted (in dollars per share)	$1.48	$2.67	$1.02	$1.97

TXNM Energy Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Electric Operating Revenues	$548.6M	$505.0M	$647.2M	$502.4M
Energy costs	$189.5M	$190.9M	$216.2M	$193.7M
Administrative and general	$64.9M	$66.9M	$68.4M	$76.0M
Depreciation and amortization	$114.6M	$112.3M	$105.0M	$105.2M
Transmission and distribution costs	$25.4M	$25.9M	$27.2M	$26.5M
Taxes other than income taxes	$30.9M	$32.0M	$28.2M	$28.3M
Total operating expenses	$425.3M	$428.0M	$444.3M	$429.7M
Total operating expenses	$123.3M	$77.0M	$202.9M	$72.7M
Interest income	$4.2M	$3.6M	$6.5M	$3.9M
Gains on investment securities	$24.4M	($8.9M)	$11.4M	$23.6M
Other income	$8.1M	$6.9M	$7.7M	$5.7M
Other (deductions)	($3.0M)	($1.9M)	($3.0M)	($6.5M)
Net other income and deductions	$33.7M	($420.0K)	$22.5M	$26.7M
Interest Charges	$69.3M	$68.6M	$70.1M	$72.0M
Earnings before Income Taxes	$87.7M	$8.0M	$155.3M	$27.3M
Income Taxes	$12.3M	($9.0K)	$18.9M	$1.3M
Net Earnings	$75.4M	$8.0M	$136.3M	$26.0M
(Earnings) Attributable to Valencia Non-controlling Interest	($4.0M)	($4.1M)	($5.5M)	($4.3M)
Preferred Stock Dividend Requirements of Subsidiary	($132.0K)	($132.0K)	($132.0K)	($132.0K)
Net earnings (losses) available for common stock	$71.3M	$3.7M	$130.7M	$21.6M
Basic (in dollars per share)	$0.64	$0.03	$1.22	$0.22
Diluted (in dollars per share)	$0.64	$0.03	$1.22	$0.22
Dividends Declared per Common Share (in dollars per share)	$0.42	$0.42	$0.41	$0.41

Balance sheet

TXNM Energy Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$18.3M	$4.5M	$2.2M	$4.1M
Accounts receivable, net of allowance for credit losses of $1,394 and $1,398	$151.8M	$130.4M	$126.3M	$183.7M
Unbilled revenues	$68.2M	$69.2M	$64.1M	$63.5M
Other receivables	$53.9M	$37.2M	$76.5M	$20.3M
Materials, supplies, and fuel stock	$181.3M	$166.9M	$98.0M	$66.7M
Regulatory assets	$41.8M	$41.5M	$73.0M	$20.3M
Prepaid assets	$28.9M	$25.5M	$19.8M	$18.5M
Income taxes receivable	$8.3M	$7.7M	$6.7M	$2.4M
Other current assets	$12.1M	$16.1M	$8.9M	$31.6M
Total current assets	$564.7M	$498.8M	$475.5M	$411.0M
Investment securities	$505.7M	$475.5M	$444.4M	$417.5M
Other investments	$302.0K	$259.0K	$171.0K	$177.0K
Non-utility property, including financing leases	$40.7M	$28.8M	$29.4M	$26.8M
Total other property and investments	$546.7M	$504.6M	$593.5M	$535.1M
Plant in service and plant held for future use	$11.6B	$10.7B	$9.7B	$9.2B
Less accumulated depreciation and amortization	$3.0B	$2.8B	$2.8B	$2.7B
Net plant in service and plant held for future use	$8.6B	$7.9B	$6.9B	$6.5B
Construction work in progress	$653.2M	$496.0M	$589.8M	$373.0M
Nuclear fuel, net of accumulated amortization of $27,953 and $28,245	$76.7M	$72.6M	$74.7M	$95.2M
Net utility plant	$9.3B	$8.4B	$7.6B	$7.0B
Regulatory assets	$939.2M	$962.0M	$914.4M	$846.7M
Goodwill	$278.3M	$278.3M	$278.3M	$278.3M
Operating lease right-of-use assets, net of accumulated amortization	$108.5M	$272.9M	$182.2M	$56.0M
Other deferred charges	$310.4M	$258.1M	$198.8M	$157.5M
Total deferred charges and other assets	$1.6B	$1.8B	$1.6B	$1.3B
Total assets	$12.1B	$11.2B	$10.3B	$9.3B
Short-term debt	$181.4M	$609.3M	$261.9M	$232.0M
Current installments of long-term debt (includes $7,303 and $6,907 related to ETBC I)	$302.5M	$611.6M	$280.2M	$184.8M
Accounts payable	$243.1M	$204.5M	$205.2M	$215.7M
Customer deposits	$6.9M	$6.5M	$6.2M	$6.1M
Accrued interest and taxes	$124.0M	$104.8M	$98.7M	$76.8M
Regulatory liabilities	$11.0M	$34.2M	$140.0M	$17.0M
Operating lease liabilities	$9.0M	$14.3M	$12.3M	$18.8M
Dividends declared	$46.2M	$36.9M	$35.1M	$31.7M
Transmission interconnection arrangement liabilities	$15.9M	$68.1M	$96.9M	$20.5M
Other current liabilities	$77.6M	$85.0M	$94.4M	$87.0M
Total current liabilities	$1.0B	$1.8B	$1.2B	$890.4M
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $324,531 and $331,726 related to ETBC I)	$5.1B	$4.3B	$4.2B	$3.9B
Accumulated deferred income taxes	$961.2M	$899.4M	$845.3M	$822.8M
Regulatory liabilities	$757.3M	$748.7M	$771.3M	$755.2M
Asset retirement obligations	$255.1M	$244.6M	$245.5M	$223.4M
Accrued pension liability and postretirement benefit cost	$6.7M	$23.1M	$21.4M	$32.8M
Operating lease liabilities	$96.7M	$255.4M	$167.0M	$41.3M
Other deferred credits	$389.1M	$358.9M	$319.1M	$342.4M
Total deferred credits and other liabilities	$2.5B	$2.5B	$2.4B	$2.2B

TXNM Energy Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$14.6M	$5.6M	$32.1M	$22.2M
Accounts receivable, net of allowance for credit losses of $1,573 and $1,394	$145.4M	$135.9M	$190.9M	$146.4M
Unbilled revenues	$90.4M	$59.2M	$82.4M	$82.0M
Other receivables	$67.1M	$72.8M	$42.3M	$47.0M
Materials, supplies, and fuel stock	$193.8M	$189.5M	$173.0M	$171.2M
Regulatory assets	$91.2M	$61.7M	$29.2M	$41.9M
Prepaid assets	$32.6M	$24.9M	$30.7M	$39.9M
Income taxes receivable	$9.2M	$7.8M	$8.6M	$9.5M
Other current assets	$16.1M	$4.7M	$6.3M	$13.7M
Total current assets	$660.4M	$562.2M	$595.4M	$573.7M
Investment securities	$513.6M	$494.6M	$493.9M	$487.0M
Other investments	$228.0K	$264.0K	$268.0K	$246.0K
Non-utility property, net	$44.1M	$41.4M	$36.7M	$32.2M
Total other property and investments	$557.9M	$536.2M	$530.8M	$519.5M
Plant in service and plant held for future use	$11.9B	$11.7B	$11.1B	$11.0B
Less accumulated depreciation and amortization	$3.1B	$3.1B	$3.0B	$2.9B
Net plant in service and plant held for future use	$8.8B	$8.6B	$8.1B	$8.1B
Construction work in progress	$787.3M	$763.7M	$791.8M	$677.9M
Nuclear fuel, net of accumulated amortization of $25,206 and $27,953	$77.9M	$78.4M	$75.7M	$76.9M
Net utility plant	$9.6B	$9.4B	$9.0B	$8.8B
Regulatory assets	$933.2M	$938.5M	$953.1M	$953.8M
Goodwill	$278.3M	$278.3M	$278.3M	$278.3M
Operating lease right-of-use assets, net of accumulated amortization	$47.9M	$49.7M	$320.1M	$265.9M
Other deferred charges	$393.7M	$328.8M	$283.5M	$268.5M
Total deferred charges and other assets	$1.7B	$1.6B	$1.8B	$1.8B
Total assets	$12.5B	$12.1B	$12.0B	$11.7B
Short-term debt	$483.0M	$263.2M	$313.8M	$345.7M
Current installments of long-term debt (includes $7,509 and $7,303 related to ETBC I)	$227.8M	$302.8M	$402.3M	$416.7M
Accounts payable	$194.6M	$157.4M	$154.4M	$147.6M
Customer deposits	$7.0M	$7.0M	$6.7M	$6.5M
Accrued interest and taxes	$132.9M	$134.5M	$134.5M	$87.0M
Regulatory liabilities	$14.9M	$13.5M	$23.7M	$21.8M
Operating lease liabilities	$7.1M	$7.7M	$15.4M	$13.6M
Dividends declared	$132.0K	$46.9M	$43.1M	$132.0K
Transmission interconnection arrangement liabilities	$16.7M	$14.5M	$0	$0
Other current liabilities	$100.4M	$75.3M	$82.4M	$81.3M
Total current liabilities	$1.2B	$1.0B	$1.2B	$1.1B
Long-term Debt, net of Unamortized Premiums, Discounts, and Debt Issuance Costs (includes $320,779 and $324,531 related to ETBC I)	$5.2B	$5.1B	$4.7B	$4.8B
Accumulated deferred income taxes	$990.6M	$970.2M	$945.8M	$918.2M
Regulatory liabilities	$781.1M	$773.7M	$760.5M	$751.5M
Asset retirement obligations	$258.4M	$256.4M	$248.5M	$246.6M
Accrued pension liability and postretirement benefit cost	$6.7M	$6.7M	$15.7M	$18.2M
Operating lease liabilities	$34.8M	$41.0M	$300.2M	$245.8M
Other deferred credits	$449.9M	$429.9M	$371.5M	$363.6M
Total deferred credits and other liabilities	$2.5B	$2.5B	$2.6B	$2.5B

Cash flow statement

TXNM Energy Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Earnings	$169.8M	$258.7M	$106.9M	$185.2M
Depreciation and amortization	$483.4M	$423.0M	$353.7M	$341.1M
Deferred income tax expense (benefit)	$8.5M	$43.0M	($13.5M)	$24.5M
(Gain) on sale of NMRD	$0	($4.4M)	—	—
Pension settlement charge	$58.8M	—	—	—
(Gains) losses on investment securities	($34.8M)	($26.9M)	($19.2M)	$78.4M
Stock based compensation expense	$8.7M	$9.5M	$7.2M	$7.8M
Regulatory disallowances	($731.0K)	$9.0M	—	—
Allowance for equity funds used during construction	($18.6M)	($17.9M)	($15.0M)	($13.8M)
Other, net	$3.0M	$4.2M	$804.0K	$2.4M
Accounts receivable and unbilled revenues	($25.0M)	($13.3M)	$53.2M	($73.1M)
Materials, supplies, and fuel stock	($14.5M)	($33.8M)	($31.3M)	($8.5M)
Other current assets	($12.4M)	$32.0M	($52.2M)	$17.2M
Other assets	($50.7M)	($83.5M)	($25.8M)	$5.0M
Accounts payable	$18.3M	$10.0M	($33.5M)	$47.6M
Accrued interest and taxes	$18.6M	$5.1M	$17.5M	$9.2M
Other current liabilities	($17.7M)	($106.4M)	$125.6M	($28.5M)
Other liabilities	($10.2M)	($94.0K)	$5.0M	($27.9M)
Net cash flows from operating activities	$584.5M	$508.2M	$551.2M	$567.3M
Additions to utility and non-utility plant	($1.2B)	($1.2B)	($1.1B)	($912.6M)
Proceeds from sale of plant assets (Note 8)	$0	$2.8M	$32.7M	—
Proceeds from sales of investment securities	$693.3M	$707.3M	$574.2M	$526.4M
Purchases of investment securities	($714.4M)	($756.8M)	($593.2M)	($564.9M)
Proceeds from sale of NMRD	$0	$116.9M	—	—
Investments in NMRD	$0	($12.6M)	($26.3M)	$0
Other, net	($109.0K)	$14.9M	$44.0K	$674.0K
Net cash flows used in investing activities	($1.2B)	($1.2B)	($1.1B)	($950.3M)
Revolving credit facilities borrowings	$2.5B	$2.9B	—	—
Revolving credit facilities repayments	($2.9B)	($2.5B)	—	—
Long-term borrowings	$3.7B	$1.2B	$1.4B	$558.0M
Repayment of long-term debt	($3.2B)	($819.5M)	($910.0M)	($179.5M)
Issuance of common stock	$842.7M	$98.6M	$198.2M	$0
Awards of common stock	($12.0M)	($8.5M)	($9.6M)	($8.0M)
Dividends paid	($163.4M)	($140.3M)	($126.7M)	($119.8M)
Valencia’s transactions with its owner	($20.8M)	($19.1M)	($21.6M)	($17.5M)
Transmission interconnection and security deposit arrangements	$57.4M	$92.3M	$49.8M	$96.5M
Refunds paid under transmission interconnection and security deposit arrangements	($111.8M)	($79.0M)	—	—
Debt issuance costs and other, net	($24.8M)	($20.5M)	($9.8M)	($5.6M)
Net cash flows from financing activities	$642.5M	$684.4M	$537.1M	$386.0M
Change in Cash, Cash Equivalents, and Restricted Cash	$9.9M	$18.1M	($135.0K)	$3.0M
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year	$22.1M	$3.9M	$4.1M	$1.1M
Cash, Cash Equivalents, and Restricted Cash at End of Year	$32.0M	$22.1M	$3.9M	—
At beginning of period	$17.6M	$1.7M	$0	—
At end of period	$13.7M	$17.6M	$1.7M	—
Interest paid, net of amounts capitalized	$234.2M	$208.0M	$155.3M	$118.5M

TXNM Energy Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net earnings	$83.4M	$8.0M	$175.1M	$38.8M
Depreciation and amortization	$253.0M	$125.4M	$361.1M	$235.2M
Deferred income tax expense	$11.1M	($547.0K)	$19.9M	$1.8M
Losses on investment securities	($15.5M)	$8.9M	($33.7M)	($22.3M)
Stock based compensation expense	$4.3M	$5.1M	$6.7M	$5.3M
Allowance for equity funds used during construction	($10.8M)	($5.0M)	($11.3M)	($5.3M)
Other, net	$2.2M	$1.2M	$2.7M	$1.8M
Accounts receivable and unbilled revenues	($18.5M)	$23.5M	($76.9M)	($30.9M)
Materials, supplies, and fuel stock	($12.5M)	($8.2M)	($6.1M)	($4.3M)
Other current assets	($63.5M)	($17.9M)	($13.6M)	($20.7M)
Other assets	($59.5M)	($11.4M)	($27.6M)	($8.2M)
Accounts payable	($2.9M)	($4.2M)	$3.0M	($3.7M)
Accrued interest and taxes	$8.0M	$11.0M	$28.8M	($19.6M)
Other current liabilities	$15.8M	$1.6M	($2.6M)	($17.1M)
Other liabilities	$28.3M	$15.6M	$2.1M	($6.0M)
Net cash flows from operating activities	$223.0M	$153.2M	$426.8M	$144.8M
Additions to utility plant and non-utility plant	($577.6M)	($312.7M)	($886.1M)	($608.8M)
Proceeds from sales of investment securities	$329.7M	$110.1M	$440.7M	$198.7M
Purchases of investment securities	($333.2M)	($112.7M)	($445.1M)	($201.2M)
Other, net	$75.0K	$38.0K	($75.0K)	($53.0K)
Net cash flows used in investing activities	($581.0M)	($315.4M)	($890.5M)	($611.3M)
Short-term borrowings	$1.9B	—	—	—
Repayments of short-term borrowings	($1.6B)	—	—	—
Long-term borrowings	$0	$0	$3.2B	$1.7B
Repayment of long-term debt	($3.6M)	($3.6M)	($3.0B)	($1.4B)
Issuance of common stock	$123.3M	$103.7M	$842.9M	$645.3M
Awards of common stock	($6.4M)	($5.4M)	($8.4M)	($8.2M)
Dividends paid	($93.1M)	($46.2M)	($118.9M)	($75.8M)
Valencia’s transactions with its owner	($4.2M)	$473.0K	($15.1M)	($8.9M)
Transmission interconnection and security deposit arrangements	$45.0M	$18.2M	$33.9M	$21.2M
Refunds paid under transmission interconnection and security deposit arrangements	($6.4M)	($5.1M)	($102.8M)	($95.0M)
Debt issuance costs and other, net	($3.3M)	($1.9M)	($17.6M)	($9.6M)
Net cash flows from financing activities	$353.0M	$142.0M	$481.6M	$481.9M
Change in Cash, Cash Equivalents, and Restricted Cash	($5.0M)	($20.1M)	$17.9M	$15.4M
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	$32.0M	$32.0M	$22.1M	$22.1M
Cash, Cash Equivalents, and Restricted Cash at End of Period	$27.0M	$11.8M	$40.0M	$37.5M
At beginning of period	$13.7M	$13.7M	$17.6M	$17.6M
At end of period	$12.4M	$6.2M	$7.9M	$15.4M
Interest paid, net of amounts capitalized	$120.0M	$46.3M	$161.7M	$132.8M
Income taxes paid, net	$2.0M	$0	$2.4M	$2.4M
Decrease (increase) in accrued plant additions	$45.6M	$81.4M	$53.1M	$53.2M

TXNM Energy Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.