TXNM Energy, Inc. Financial Ratios — TXNM Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	18.03	6.34	5.87	6.61	0.89	6.69	4.49	4.77	4.33	8.85	8.97	7.54	3.76	9.64	5.01
Return on Assets (%)	3.39	2.01	1.86	2.07	0.27	1.88	1.23	1.28	1.1	2.27	2.36	1.9	0.91	2.26	1.31
Return on Capital (%)	8.28	4.93	4.55	4.72	1.94	4.37	2.61	4.03	- -	4.85	4.49	4.16	- -	5.5	4.42
Return on Invested Capital (%)	4.9	5.4	5.49	5.21	4.94	4.76	3.23	6.1	- -	4.85	4.61	5.45	- -	5.42	4.73
Gross Margin (%)	48.62	56.4	56.18	54.23	55.43	61.35	62.29	61.77	61.9	61.57	55.68	49.53	53.91	65.62	62.4
EBITDA Margin (%)	27.88	35.77	36.55	35.56	35.76	39.75	42.23	40.18	40.91	39.46	35.37	32.7	33.88	44.92	42.66
Operating Margin (%)	16.39	20.39	21.55	20.95	20.28	21.99	23.67	21	20.26	18.8	17.38	17.54	15.64	23.46	20.34
Incremental Operating Margin (%)	144.82	1.39	55.7	3.51	-276.8	-10.4	51.6	481.88	-30.25	-13.63	8.94	18.15	29.43	497.49	-11.33
Pretax Margin (%)	18.37	13.04	12.61	13.97	3.21	14.32	15.62	7.59	4.59	13.65	13.73	9.39	4.67	14.22	8.31
Profit Margin (%)	10.4	7.9	7.28	8.13	1.12	8.61	5.56	6	5.34	11.38	11.03	7.56	4.56	12.31	7.01
Net Income to Common Margin (%)	10.37	7.86	7.24	8.1	1.09	8.57	5.53	5.96	5.31	11.34	11	7.54	4.53	12.28	6.99
Effective Tax Rate (%)	38.9	31.37	33.99	34.76	32.66	32.42	57.73	7.13	- -	9.92	13.33	12.37	- -	7.68	5.66
Dvd Payout Ratio (%)	22.07	33.38	39.35	40.79	140.17	48.05	70.3	72.87	87.3	48.79	49.58	59.72	101.04	50.98	86.97
Sustainable Growth Rate (%)	14.05	4.22	3.56	3.92	-0.36	3.47	1.33	1.29	0.55	4.53	4.52	3.04	-0.04	4.73	0.65

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1,757	1,831	1,895	2,068	2,343	2,680	2,743	2,906	3,327	3,436	3,845	4,370	4,963	5,802	5,706
ST Debt	85	161	224	438	376	560	562	236	704	635	269	436	554	1,235	493
LT Debt	1,672	1,670	1,670	1,630	1,967	2,119	2,181	2,670	2,623	2,801	3,576	3,934	4,409	4,567	5,213
Total Debt/EBITDA	3.71	3.81	3.74	4.05	4.55	4.95	4.49	5.03	5.58	5.72	6.11	5.94	7.55	6.55	6.18
Net Debt/EBITDA	3.67	3.79	3.73	3.99	4.46	4.94	4.49	5.03	5.35	5.46	5.97	5.85	7.28	6.24	6.04
Total Debt/EBIT	6.3	6.69	6.33	6.88	8.03	8.94	8.02	9.63	11.27	12	12.43	11.07	16.37	12.55	12.95
Net Debt/EBIT	6.25	6.66	6.33	6.78	7.87	8.93	8.01	9.63	10.8	11.45	12.16	10.91	15.77	11.95	12.67
EBITDA to Interest Expense	3.8	3.97	4.18	4.27	4.48	4.21	4.78	4.54	4.93	5.25	6.5	5.75	3.45	3.88	3.4
EBITDA-CapEx/Interest Expense	1.18	1.42	1.31	0.42	-0.38	-0.45	0.86	0.6	-0.16	-0.68	-3.15	-1.38	-2.2	-1.59	-1
EBIT to Interest Expense	2.23	2.27	2.46	2.51	2.54	2.33	2.68	2.37	2.44	2.5	3.19	3.08	1.59	2.03	1.62
Interest Expense	125	121	121	120	115	129	128	127	121	114	97	128	190	228	272
Common Equity/Total Assets	31.53	31.45	31.48	30.8	28.73	27.33	26.95	26.18	24.36	26.81	25.84	24.39	23.53	23.3	28.45
Long-Term Debt/Equity (%)	100.22	98.19	94.8	90.2	113.19	120.67	123	151.36	149.6	132.11	160.02	174.34	182.89	176.01	150.68
Long-Term Debt/Capital (%)	47.88	46.21	44.97	41.4	47.38	46.8	47.28	55.87	50.64	49.7	58.13	58.79	59.28	53.9	56.71
Long-Term Debt/Total Assets (%)	32.12	31.08	30.37	28.14	32.73	32.75	32.81	38.89	35.94	35.27	41.26	42.5	43	40.74	43.23
Total Debt/Equity (%)	105.32	107.67	107.52	114.47	134.8	152.57	154.71	164.73	189.78	162.06	172.07	193.64	205.88	223.61	164.93
Total Debt/Capital (%)	50.31	50.68	51	52.54	56.42	59.17	59.48	60.81	64.23	60.97	62.51	65.29	66.74	68.48	62.07
Total Debt/Total Assets (%)	33.75	34.08	34.45	35.72	38.98	41.41	41.27	42.33	45.59	43.27	44.36	47.2	48.41	51.75	47.31
Net Debt to Equity	104.42	107.14	107.38	112.9	132.15	152.32	154.49	164.61	181.89	154.68	168.3	190.8	198.35	213.05	161.34
Net Debt/Capital (%)	50.1	50.55	50.97	52.19	55.93	59.13	59.44	60.79	61.61	58.69	61.15	64.37	64.32	65.28	60.84
EBITDA	474	480	507	511	515	542	610	577	596	601	630	736	657	885	924
EBITDA-CapEx	147	171	159	50	-44	-58	110	76	-20	-78	-305	-177	-419	-362	-272
Operating Income (Loss)	279	274	299	301	292	300	342	302	295	286	309	395	303	462	440

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.04	0.02	0.01	0.04	0.07	0.01	- -	- -	- -	0.05	- -	- -	- -	- -	0.02
Current Ratio	1.24	1.02	0.82	0.58	0.6	0.47	0.35	0.59	0.3	0.39	0.49	0.46	0.39	0.28	0.55
Quick Ratio	0.87	0.71	0.43	0.32	0.36	0.28	0.21	0.33	0.17	0.25	0.31	0.31	0.22	0.14	0.3
CFO/Avg Current Liab	0.65	0.7	0.83	0.69	0.58	0.56	0.64	0.64	0.68	0.5	0.67	0.73	0.52	0.34	0.42
Common Equity/Total Assets	31.53	31.45	31.48	30.8	28.73	27.33	26.95	26.18	24.36	26.81	25.84	24.39	23.53	23.3	28.45
Long-Term Debt/Equity (%)	100.22	98.19	94.8	90.2	113.19	120.67	123	151.36	149.6	132.11	160.02	174.34	182.89	176.01	150.68
Long-Term Debt/Capital (%)	47.88	46.21	44.97	41.4	47.38	46.8	47.28	55.87	50.64	49.7	58.13	58.79	59.28	53.9	56.71
Long-Term Debt/Total Assets (%)	32.12	31.08	30.37	28.14	32.73	32.75	32.81	38.89	35.94	35.27	41.26	42.5	43	40.74	43.23
Total Debt/Equity (%)	105.32	107.67	107.52	114.47	134.8	152.57	154.71	164.73	189.78	162.06	172.07	193.64	205.88	223.61	164.93
Total Debt/Capital (%)	50.31	50.68	51	52.54	56.42	59.17	59.48	60.81	64.23	60.97	62.51	65.29	66.74	68.48	62.07
Total Debt/Total Assets (%)	33.75	34.08	34.45	35.72	38.98	41.41	41.27	42.33	45.59	43.27	44.36	47.2	48.41	51.75	47.31
CFO/Total Liabilities	8.26	7.66	10.34	10.41	9.06	8.66	10.74	8.39	9.07	8.35	8.52	8.1	7.03	5.9	6.8
CFO/CapEx	0.89	0.91	1.11	0.9	0.69	0.68	1.05	0.85	0.82	0.72	0.59	0.62	0.51	0.41	0.49
Altman's Z-Score	0.96	0.85	0.89	0.89	0.84	0.78	0.84	0.85	0.79	0.76	0.79	0.82	0.59	0.6	0.78

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	18.38	15.35	15.65	16.2	15.5	14.68	16.28	15.68	16.31	15.28	15.04	14.66	12.51	15.36	15.35
Days Sales Outstanding	19.86	23.78	23.32	22.53	23.55	24.87	22.42	23.28	22.37	23.88	24.27	24.9	29.17	23.76	23.78
Inventory Turnover	16.38	10.28	9.59	10.04	9.79	7.5	7.81	7.94	7.42	8.11	12	17.23	10.85	5.12	4.68
Days Inventory Outstanding	22.29	35.51	38.07	36.34	37.28	48.65	46.73	45.97	49.21	45.01	30.42	21.19	33.64	71.33	78.03
Accounts Payable Turnover	8.79	5.84	5.9	5.95	6.13	5.69	5.17	4.75	5.22	4.21	4.61	5.86	4.4	3.64	3.7
Accounts Payable Turnover Days	41.5	62.51	61.9	61.34	59.53	64.14	70.53	76.86	69.98	86.66	79.24	62.33	83.02	100.14	98.54
Cash Conversion Cycle	0.64	-3.22	-0.51	-2.47	1.3	9.37	-1.39	-7.61	1.61	-17.77	-24.55	-16.24	-20.21	-5.05	3.26
Inventory to Cash Days	-2.43	-11.73	-14.75	-13.8	-13.72	-23.78	-24.31	-22.69	-26.84	-21.13	-6.15	3.72	-4.47	-47.57	-54.25
Inventories	54	60	67	64	67	73	67	72	78	66	65	67	98	167	181
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	54	60	67	64	67	73	67	72	78	66	65	67	98	167	181

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	1,626	1,637	1,926	2,359	2,438	2,736	3,231	3,289	4,044	3,882	3,917	4,199	3,582	4,459	5,981
- Cash & Cash Equivalents	15	9	3	28	46	5	4	2	4	48	1	4	2	4	18
+ Preferred Equity and Hybrid Capital	12	12	12	12	12	12	12	12	12	12	12	12	12	12	12
+ Minority/Non Controlling Interest	82	81	77	74	71	69	66	64	63	59	55	53	50	47	44
+ Total Debt	1,757	1,831	1,895	2,068	2,343	2,680	2,743	2,906	3,327	3,436	3,845	4,370	4,963	5,802	5,706
Enterprise Value	3,462	3,551	3,907	4,484	4,818	5,491	6,048	6,268	7,443	7,340	7,828	8,629	8,604	10,316	11,724
Total Capital	3,492	3,613	3,715	3,936	4,152	4,529	4,612	4,779	5,180	5,635	6,151	6,692	7,436	8,473	9,192
Total Debt/Capital (%)	50.31	50.68	51	52.54	56.42	59.17	59.48	60.81	64.23	60.97	62.51	65.29	66.74	68.48	62.07
Total Debt / EV	0.51	0.52	0.48	0.46	0.49	0.49	0.45	0.46	0.45	0.47	0.49	0.51	0.58	0.56	0.49
EV/Sales	2.04	2.65	2.81	3.12	3.35	4.03	4.19	4.36	5.11	4.82	4.4	3.84	4.44	5.23	5.41
EV/EBITDA	7.3	7.39	7.7	8.78	9.36	10.14	9.91	10.86	12.48	12.21	12.43	11.73	13.1	11.65	12.69
EV/EBIT	12.42	12.97	13.06	14.91	16.51	18.32	17.68	20.78	25.2	25.63	25.31	21.87	28.37	22.31	26.62
EV/Cash Flow to Firm	9.39	9.75	8.37	9.1	10.38	11.09	10.47	11.47	11.11	12.47	12.39	12.7	11.09	14.35	13.95
EV/Free Cash Flow to Firm	4.98	5.27	4.79	4.7	4.71	5.01	5.61	5.98	5.79	5.79	5	5.42	4.65	5.25	5.76
Diluted Market Cap	1,636	1,649	1,940	2,379	2,450	2,749	3,242	3,289	4,056	3,897	3,928	4,204	3,593	4,459	6,029
Diluted Enterprise Value	3,472	3,564	3,921	4,503	4,829	5,504	6,059	6,268	7,454	7,355	7,838	8,634	8,615	10,316	11,772
EV per Share	38.81	44.5	48.93	56.31	60.4	68.85	75.72	78.32	93.32	91.76	91.14	100.27	99.93	113.74	115.41
TTM Sales	1,701	1,342	1,388	1,436	1,439	1,363	1,445	1,437	1,458	1,523	1,780	2,250	1,939	1,971	2,166
TTM EBITDA	474	480	507	511	515	542	610	577	596	601	630	736	657	885	924
TTM Operating Income	279	274	299	301	292	300	342	302	295	286	309	395	303	462	440
TTM Cash Flow to Firm	369	364	467	493	464	495	577	546	670	589	632	679	776	719	841
TTM Free Cash Flow to Firm	695	673	815	954	1,023	1,095	1,078	1,048	1,286	1,268	1,567	1,592	1,852	1,966	2,037

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	2.64	2.79	2.64	2.72	2.59	2.73	3.17	3.54	3.62	3.35	2.65	2.84	2.21	2.54	3.39
EV/EBIT	12.42	12.97	13.06	14.91	16.51	18.32	17.68	20.78	25.2	25.63	25.31	21.87	28.37	22.31	26.62
Enterprise Value	3,462	3,551	3,907	4,484	4,818	5,491	6,048	6,268	7,443	7,340	7,828	8,629	8,604	10,316	11,724
Low Price	12.75	17.29	20.06	23.53	24.42	29.22	33.35	33.75	39.71	27.08	43.84	43.43	41.44	34.63	45.71
EV/Sales	2.04	2.65	2.81	3.12	3.35	4.03	4.19	4.36	5.11	4.82	4.4	3.84	4.44	5.23	5.41
EV/EBITDA	7.3	7.39	7.7	8.78	9.36	10.14	9.91	10.86	12.48	12.21	12.43	11.73	13.1	11.65	12.69
Price/Earnings	9.22	15.51	19.16	20.29	155.9	23.41	40.45	38.4	52.28	22.47	20	24.77	40.78	18.42	39.52
Price/Earnings Average	7.93	14.81	18.04	18.52	140.98	22.32	39.26	36.25	49.57	20.64	21.35	23.8	44.99	15.12	36.81
Price/Earnings High	9.7	17.04	19.49	21.64	159.26	24.68	46	42.38	54.62	25.99	21.98	25.03	48.63	18.83	39.68
Price/Earnings Low	6.45	13.07	15.94	16.12	124.53	19.94	33.35	31.54	40.94	12.54	19.23	22.05	40.63	12.97	30.68
Price/Book Value	0.99	0.97	1.11	1.32	1.41	1.55	1.8	1.83	2.27	1.82	1.75	1.86	1.48	1.71	1.74
Price/Book Value Average	0.85	0.92	1.05	1.21	1.28	1.47	1.75	1.73	2.16	1.68	1.87	1.79	1.64	1.4	1.62
Price/Book Value High	1.04	1.06	1.13	1.41	1.44	1.63	2.05	2.02	2.38	2.11	1.92	1.88	1.77	1.75	1.75
Price/Book Value Low	0.69	0.82	0.92	1.05	1.13	1.32	1.49	1.5	1.78	1.02	1.68	1.66	1.48	1.2	1.35
Price/Tangible Book Value	1.18	1.16	1.31	1.56	1.68	1.87	2.18	2.23	2.76	2.12	2.01	2.13	1.69	1.93	1.89
Price/Tangible Book Value Average	1.01	1.11	1.23	1.42	1.52	1.78	2.11	2.11	2.62	1.95	2.15	2.05	1.86	1.59	1.76
Price/Tangible Book Value High	1.24	1.27	1.33	1.66	1.72	1.97	2.48	2.46	2.89	2.45	2.21	2.16	2.01	1.98	1.89
Price/Tangible Book Value Low	0.83	0.98	1.09	1.24	1.35	1.59	1.8	1.83	2.16	1.18	1.94	1.9	1.68	1.36	1.46
Price/Sales	0.96	1.22	1.39	1.64	1.69	2.01	2.24	2.29	2.77	2.55	2.2	1.87	1.85	2.26	2.76
Price/Sales Average	0.82	1.16	1.31	1.5	1.53	1.91	2.17	2.16	2.63	2.34	2.35	1.79	2.04	1.86	2.57
Price/Sales High	1.01	1.34	1.41	1.75	1.73	2.12	2.54	2.53	2.9	2.95	2.42	1.89	2.2	2.31	2.77
Price/Sales Low	0.67	1.03	1.15	1.3	1.35	1.71	1.84	1.88	2.17	1.42	2.12	1.66	1.84	1.59	2.14
Price/Cash Flow	5.56	5.82	4.98	5.69	6.3	6.7	6.17	7.68	8.04	7.99	7.15	7.4	6.5	8.78	10.23
Price/Cash Flow Average	4.79	5.56	4.69	5.19	5.7	6.39	5.99	7.25	7.62	7.34	7.63	7.11	7.17	7.2	9.53
Price/Cash Flow High	5.85	6.39	5.07	6.06	6.44	7.06	7.02	8.48	8.4	9.25	7.86	7.48	7.75	8.97	10.28
Price/Cash Flow Low	3.89	4.9	4.14	4.52	5.03	5.71	5.09	6.31	6.29	4.46	6.87	6.59	6.47	6.18	7.94
Price/Free Cash Flow Average	2.27	2.67	2.49	2.48	2.34	2.6	3.07	3.34	3.44	3.07	2.83	2.73	2.44	2.09	3.15
Price/Free Cash Flow High	2.78	3.07	2.69	2.9	2.65	2.87	3.6	3.91	3.79	3.87	2.91	2.87	2.63	2.6	3.4
Price/Free Cash Flow Low	1.85	2.36	2.2	2.16	2.07	2.32	2.61	2.91	2.84	1.87	2.55	2.53	2.2	1.79	2.63
EV/Sales Average	1.9	2.59	2.73	2.98	3.19	3.94	4.12	4.24	4.96	4.61	4.55	3.76	4.63	4.83	5.22
EV/Sales High	2.08	2.77	2.84	3.23	3.38	4.14	4.49	4.6	5.23	5.22	4.62	3.86	4.79	5.28	5.43
EV/Sales Low	1.75	2.45	2.58	2.78	3.01	3.73	3.79	3.95	4.5	3.69	4.31	3.63	4.43	4.56	4.8
EV/EBITDA Average	6.82	7.24	7.48	8.38	8.91	9.9	9.75	10.54	12.13	11.69	12.85	11.51	13.66	10.75	12.25
EV/EBITDA High	7.48	7.73	7.77	9.09	9.46	10.41	10.64	11.45	12.78	13.22	13.05	11.79	14.14	11.76	12.72
EV/EBITDA Low	6.27	6.86	7.06	7.83	8.41	9.39	8.98	9.84	11.01	9.36	12.19	11.1	13.08	10.16	11.24
EV/EBIT Average	11.6	12.7	12.68	14.22	15.71	17.89	17.4	20.17	24.49	24.53	26.16	21.45	29.59	20.58	25.69
EV/EBIT High	12.72	13.57	13.17	15.43	16.69	18.81	18.98	21.91	25.82	27.76	26.55	21.98	30.64	22.52	26.67
EV/EBIT Low	10.67	12.03	11.98	13.29	14.83	16.97	16.02	18.83	22.23	19.64	24.81	20.7	28.33	19.45	23.58
Last Price	18.23	20.51	24.12	29.63	30.57	34.3	40.45	41.09	50.71	48.53	45.61	48.79	41.6	49.17	58.88
High Price	19.17	22.54	24.53	31.6	31.23	36.15	46	45.35	52.98	56.14	50.11	49.31	49.6	50.28	59.12
Enterprise Value Average	3,234	3,477	3,793	4,278	4,584	5,363	5,953	6,084	7,233	7,024	8,092	8,466	8,973	9,516	11,315
Enterprise Value High	3,546	3,713	3,939	4,641	4,870	5,639	6,491	6,609	7,624	7,949	8,215	8,673	9,293	10,416	11,749
Enterprise Value Low	2,973	3,294	3,582	3,998	4,327	5,086	5,481	5,681	6,565	5,624	7,676	8,167	8,590	8,997	10,386

Shares Outstanding	80	80	80	80	80	80	80	80	80	86	86	86	90	93	109
Diluted Weighted Avg Shares	90	80	80	80	80	80	80	80	80	80	86	86	86	91	102
Basic Weighted Avg Shares	89	80	80	80	80	80	80	80	80	80	86	86	86	91	102
Revenue per Share	19.07	16.82	17.38	18.03	18.04	17.09	18.09	17.95	18.28	19.04	20.72	26.14	22.52	21.73	21.32
EBITDA per Share	5.31	6.02	6.35	6.41	6.45	6.79	7.64	7.21	7.48	7.51	7.33	8.55	7.63	9.76	9.09
Operating Income per Share	3.12	3.43	3.75	3.78	3.66	3.76	4.28	3.77	3.7	3.58	3.6	4.59	3.52	5.1	4.34
Basic EPS, GAAP	1.98	1.32	1.26	1.46	0.2	1.47	1	1.07	0.97	2.16	2.28	1.97	1.02	2.67	1.49
Basic EPS from Cont Ops	2.14	1.51	1.45	1.64	0.39	1.65	1.19	1.27	1.16	2.34	2.47	2.15	1.24	2.85	1.67
Diluted EPS, GAAP	1.96	1.31	1.25	1.45	0.2	1.46	1	1.07	0.97	2.15	2.27	1.97	1.02	2.67	1.48
Diluted EPS from Cont Ops	2.13	1.49	1.44	1.63	0.39	1.65	1.19	1.27	1.15	2.33	2.46	2.15	1.24	2.85	1.66
Dividend per Share	0.51	0.57	0.65	0.75	0.81	0.89	0.97	1.06	1.17	1.23	1.32	1.39	1.47	1.55	1.61
Cash Flow per Share	3.28	3.53	4.84	5.21	4.85	5.12	6.55	5.35	6.31	6.07	6.38	6.59	6.4	5.6	5.75
Free Cash Flow per Basic Share	-0.39	-0.35	0.48	-0.57	-2.15	-2.4	0.29	-0.91	-1.42	-2.42	-4.51	-4.01	-6.09	-8.15	-6.02
Cash & Equivalents per Share	0.17	0.11	0.03	0.36	0.58	0.06	0.05	0.03	0.05	0.6	0.01	0.05	0.03	0.05	0.18
Book Value per Share	18.39	21.18	21.69	22.4	21.64	22.17	22.43	22.45	22.29	26.61	26.07	26.24	28.01	28.8	33.77
Tangible Book Value per Share	15.45	17.68	18.44	19.05	18.15	18.39	18.57	18.42	18.35	22.88	22.64	22.85	24.63	25.41	31.2

TXNM Energy, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)