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Txnm Energy (TXNM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Txnm Energy (TXNM) Q3 2026 earnings results →
Q3 2026 Revenue up 13% year over year to $733M · 22¢ of every $1 of revenue kept as net profit · operating margin 37.0%
Txnm Energy made $733M in Q3 2026 (+13% Y/Y). Operating margin 37.0%, net earnings $163M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $733.3M in Q3 2026, up 13% year over year.
Operating profit was $271.1M, a 37.0% margin (up 5.6 points year over year). Of the extra revenue versus Q3 2025, 79% reached operating profit, above the 31% margin then. Total costs grew 4% against revenue growth of 13%. Net earnings were $163.4M, up 25% year over year. The effective tax rate was 14.0%.
Operating cash flow was $229.5M (down 19% year over year), 137% of net income including minority interests. Non-cash charges added back $126.8M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $66.7M. Capital expenditures of $325.4M exceeded it, leaving free cash flow of −$95.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $733M | +13% | 37.0% | $163M | $230M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $549M | +9% | 22.5% | $71.3M | $69.8M |
| Q1 2026 | 10-Q | May 1, 2026 | $505M | +5% | 15.3% | $3.7M | $153M |
| Q4 2025 | 10-K | Feb 27, 2026 | $533M | +12% | 17.6% | −$5.3M | $158M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $647M | +14% | 31.3% | $131M | $282M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $502M | +3% | 14.5% | $21.6M | $3.5M |
| Q1 2025 | 10-Q | May 9, 2025 | $483M | +10% | 14.9% | $8.9M | $141M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Txnm Energy
TXNM Energy, Inc. (“TXNM”), is a holding company with two regulated electric utilities, PNM and TNMP, serving approximately 842,000 residential, commercial, and industrial customers in New Mexico and Texas. TXNM was incorporated in the State of New Mexico in 2000. TXNM’s vision is to create a clean and bright energy future while fulfilling its purpose to work together with customers and communities to meet their energy needs. TXNM’s core values of Safety, Caring and Integrity are the foundation for the Company’s business objectives focused on safety excellence and customer satisfaction, including reliability. To reach these objectives, the Company is committed to:
In its own words, from its 10-K, filed Feb 27, 2026.
Txnm Energy against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +13%. Operating margin: 37.0% against the peers' median 29.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TXNM Txnm Energy | Q3 2026 | $733M | +13% | 37.0% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Txnm Energy 10-Q on SEC EDGAR · CIK 1108426 · Electric Services
Guidance and outlook
13F: who owns TXNM and who is buying
More on TXNM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results