Portland General Electric vs TXNM Energy
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KIRA’s take AI analyst
I put Portland General Electric and TXNM Energy side by side, using each one’s latest annual report. Here is what stands out:
- Portland General Electric is the larger business, with $3.6B of revenue in fiscal 2025 against $2.2B for TXNM Energy, about 1.7 times as much.
- TXNM Energy grew revenue faster (9.9%, against 4.0%).
- TXNM Energy kept more of each dollar of sales as operating profit (20.4% operating margin, against 15.5%).
- Portland General Electric turned more of its sales into free cash flow (−2.0% FCF margin, against −28.2%).
- Portland General Electric earned a higher return on the capital invested in it (5.4%, against 4.8%).
- Investors pay more for each dollar of TXNM Energy’s earnings: a P/E of 44.2x against 19.4x for Portland General Electric.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Portland General Electric
POR
7/10
5-year growthNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
TXNM Energy
TXNM
3/10
Revenue growthOperating marginPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | POR FY25 | TXNM FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.1B | $6.6B |
| Revenue | $3.6B | $2.2B |
| Free cash flow | −$71.0M | −$611M |
| Net income | $306M | $170M |
| Growth | ||
| Revenue growth | 4.0% | 9.9% |
| 5-year growth | 10.8% | 7.3% |
| Share count change | 6.3% | 13.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 15.5% | 20.4% |
| Net margin | 8.6% | 7.8% |
| FCF margin | −2.0% | −28.2% |
| Return on capital | 5.4% | 4.8% |
| Return on equity | 7.7% | 5.7% |
| Balance sheet | ||
| Net debt | $4.9B | $5.6B |
| Net debt / EBITDA | 4.3x | 6.1x |
| Dividends and buybacks | $225M | $175M |
| Valuation & quality | ||
| P/E | 19.4x | 44.2x |
| Piotroski F-score | 5 | 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.