Alliant Energy vs TXNM Energy
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KIRA’s take AI analyst
I put Alliant Energy and TXNM Energy side by side, using each one’s latest annual report. Here is what stands out:
- 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 44.2x against 21.8x for Alliant Energy.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Alliant Energy
LNT
6/10
Operating marginNet marginFCF marginReturn on capitalReturn on equityShare count change
TXNM Energy
TXNM
3/10
Revenue growth5-year growthNet debt / EBITDA
Side by side
Best in the row
| 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 | 44.2x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.