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Atmos Energy vs Spire: ATO and SR compared
Atmos Energy is the larger company: $879M of revenue in its latest quarter (Q3 FY26) against $420M for Spire (Q3 FY26). Atmos Energy is growing faster (+5% against -0.4% a year earlier). Atmos Energy is more profitable, with an operating margin of 36.4% against 5.6%.
Where the money goes: ATO and SR
Atmos Energy (ATO) · Q3 FY26
Atmos Energy, Q3 FY26: revenue $879M (+5% year over year), operating margin 36.4%, net earnings $243M, operating cash flow $640M. The chart follows the revenue to costs, profit and cash.
Spire (SR) · Q3 FY26
Spire, Q3 FY26: revenue $420M (-0.4% year over year), operating margin 5.6%, net earnings $211M, operating cash flow $122M. The chart follows the revenue to costs, profit and cash.
| Atmos Energy (ATO) | Spire (SR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 FY26 |
| Revenue | $879M | $420M |
| Revenue growth, Y/Y | +5% | -0.4% |
| Operating margin | 36.4% | 5.6% |
| Net earnings | $243M | $211M |
| Net margin | 27.6% | 50.3% |
| Operating cash flow | $640M | $122M |
| Market value | $29.3B | $5.3B |
| P/E | 20.9× | 17.9× |
| Analysts’ mean target | $182.73 | $91.00 |
Where the revenue comes from
Atmos Energy
- Distribution segment: $774M (88%)
- Pipeline and storage segment: $105M (12%)
Questions
Which is bigger, Atmos Energy or Spire?
Atmos Energy is the larger company: $879M of revenue in its latest quarter (Q3 FY26) against $420M for Spire (Q3 FY26).
Is Atmos Energy or Spire growing faster?
Atmos Energy is growing faster (+5% against -0.4% a year earlier).
Which is more profitable, Atmos Energy or Spire?
Atmos Energy is more profitable, with an operating margin of 36.4% against 5.6%.
More: Atmos Energy earnings · how Atmos Energy makes money · Spire earnings · how Spire makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Aug 5, 2026). Fiscal quarters can end on different dates. Not investment advice.