Alliant Energy vs TXNM Energy
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The short version
- Alliant Energy is the larger business, with $4.4B of revenue in fiscal 2025 against $2.2B for TXNM Energy, about 2.0 times as much.
- Alliant Energy kept more of each dollar of sales as operating profit (23.5% operating margin, against 20.4%).
- Alliant Energy turned more of its sales into free cash flow (−25.4% FCF margin, against −28.2%).
- Alliant Energy earned a higher return on the capital invested in it (5.6%, against 4.8%).
- Investors pay more for each dollar of TXNM Energy’s earnings: a P/E of 44.1x against 21.8x for Alliant Energy.
| Latest fiscal year | LNT · FY25 | TXNM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.0B | $6.6B |
| Revenue | $4.4B | $2.2B |
| Free cash flow | −$1.1B | −$611M |
| Net income | $810M | $170M |
| Growth | ||
| Revenue growth | 9.6% | 9.9% |
| 5-year growth | 5.0% | 7.3% |
| Share count change | 0.4% | 13.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 23.5% | 20.4% |
| Net margin | 18.6% | 7.8% |
| FCF margin | −25.4% | −28.2% |
| Return on capital | 5.6% | 4.8% |
| Return on equity | 11.3% | 5.7% |
| Balance sheet | ||
| Net debt | $11.8B | $5.6B |
| Net debt / EBITDA | 6.3x | 6.1x |
| Dividends and buybacks | $521M | $175M |
| Valuation & quality | ||
| P/E | 21.8x | 44.1x |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
LNT $3.3B
TXNM $1.4B
FY17
LNT $3.4B
TXNM $1.4B
FY18
LNT $3.5B
TXNM $1.4B
FY19
LNT $3.6B
TXNM $1.5B
FY20
LNT $3.4B
TXNM $1.5B
FY21
LNT $3.7B
TXNM $1.8B
FY22
LNT $4.2B
TXNM $2.2B
FY23
LNT $4.0B
TXNM $1.9B
FY24
LNT $4.0B
TXNM $2.0B
FY25
LNT $4.4B
TXNM $2.2B
LNT
TXNM
Operating margin
FY16
LNT 16.7%
TXNM 20.9%
FY17
LNT 19.9%
TXNM 21.8%
FY18
LNT 19.6%
TXNM 16.4%
FY19
LNT 21.3%
TXNM 9.9%
FY20
LNT 21.7%
TXNM 18.7%
FY21
LNT 21.7%
TXNM 17.3%
FY22
LNT 22.1%
TXNM 17.5%
FY23
LNT 23.4%
TXNM 11.9%
FY24
LNT 22.3%
TXNM 23.0%
FY25
LNT 23.5%
TXNM 20.4%
LNT
TXNM
Free cash flow
FY16
LNT −$804M
TXNM −$192M
FY17
LNT −$945M
TXNM $23.0M
FY18
LNT −$1.1B
TXNM −$73.0M
FY19
LNT −$980M
TXNM −$113M
FY20
LNT −$865M
TXNM −$193M
FY21
LNT −$587M
TXNM −$387M
FY22
LNT −$998M
TXNM −$345M
FY23
LNT −$864M
TXNM −$525M
FY24
LNT −$885M
TXNM −$739M
FY25
LNT −$1.1B
TXNM −$611M
LNT
TXNM
Return on capital
FY16
LNT 5.8%
TXNM 4.6%
FY17
LNT 6.5%
TXNM 3.5%
FY18
LNT 6.3%
TXNM 4.8%
FY19
LNT 6.1%
TXNM 3.0%
FY20
LNT 5.9%
TXNM 5.0%
FY21
LNT 5.9%
TXNM 4.7%
FY22
LNT 6.2%
TXNM 5.5%
FY23
LNT 6.0%
TXNM 3.4%
FY24
LNT 5.2%
TXNM 5.5%
FY25
LNT 5.6%
TXNM 4.8%
LNT
TXNM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.