ATO

NYSE

ATMOS ENERGY CORP

Utilities, Gas Utilities

$170.19

close 7 Aug 2026

+3.12%

52-week change

$28.76B

market cap

$160.10

$192.51

52-week range

Expected price

$156.04 – $190.72

Current price

$170.19

Signal

Appears fairly valued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)20.31x

P/S (TTM)5.84x

P/B1.88x

EV/EBITDA (TTM)14.82x

FCF yield (TTM)-7.02%

PEG (TTM, GAAP)2.02

Context

P/E, own 5-year average20.68x

P/E, sector median21.33x*

Price at 5-year median P/E$172.53*

Indicated dividend yield2.35%

Forward — analyst consensus

Forward P/E (FY2026)20.08x*

Forward P/E (FY2027)18.87x

Forward PEG3.12*

Consensus EPS FY2026 (5 analysts)$8.47

EPS growth (FY2026→FY2027)6.44%

Revenue growth (FY2026)9.78%

Street view

Price target (mean)$188.92*

Target upside11.00%

Ratings (buy / hold / sell)3 / 12 / 0

FY2026 EPS revisions, 30d (up / down)4 / 0

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 5 Aug 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$170.19

Cash & equivalents$520.95M

Total debt$10.25B

Shares outstanding168.99M

Result

DCF price per share-$328.42

Current price$170.19

Margin of safety-292.97%

PV of years 1–10-$17.36B

PV of terminal value-$28.41B

Equity value-$55.50B

Market-implied growth—

The base free cash flow is not positive; growing a negative flow is rarely a meaningful valuation.

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	-$2.12B	-$2.23B	-$2.34B	-$2.46B	-$2.58B	-$2.71B	-$2.84B	-$2.98B	-$3.13B	-$3.29B	-$61.33B
PV	-$1.96B	-$1.91B	-$1.86B	-$1.81B	-$1.75B	-$1.71B	-$1.66B	-$1.61B	-$1.57B	-$1.52B	-$28.41B

period to 30 Jun 2026, filed 5 Aug 2026, close 7 Aug 2026