Stock PNM PNM RESOURCES, INC.
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Financials PNM Resources, Inc.

Equities

PNM

US69349H1077

Electric Utilities

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
36.32 USD 0.00% Intraday chart for PNM Resources, Inc. -0.79% -12.69%
Apr. 15 Barclays Adjusts Price Target on PNM Resources to $43 From $40, Keeps Overweight Rating MT
Apr. 01 PNM Resources, Inc. Enters into a Twelfth Amendment to and Restatement of Credit Agreement Amending and Restating its $300.0 Million Revolving Credit Agreement CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,039 4,166 3,915 4,188 3,571 3,276 - -
Enterprise Value (EV) 1 7,228 7,445 3,915 4,188 3,571 3,276 3,276 3,276
P/E ratio 52.3 x 22.6 x 20.1 x 24.8 x 40.8 x 13.5 x 12.9 x 12 x
Yield 2.32% 2.58% 2.92% 2.89% 3.58% 4.27% 4.5% 4.77%
Capitalization / Revenue 2.77 x 2.74 x 2.2 x 1.86 x 1.84 x 1.5 x 1.41 x 1.34 x
EV / Revenue 2.77 x 2.74 x 2.2 x 1.86 x 1.84 x 1.5 x 1.41 x 1.34 x
EV / EBITDA 7.36 x 7.29 x 6.42 x 5.39 x 4.67 x 4.04 x 3.58 x 3.26 x
EV / FCF - - -10,112,358 x - - - - -
FCF Yield - - -0% - - - - -
Price to Book 2.41 x 2.03 x 1.81 x 1.91 x 1.52 x 1.23 x 1.16 x -
Nbr of stocks (in thousands) 79,654 85,835 85,835 85,835 85,835 90,200 - -
Reference price 2 50.71 48.53 45.61 48.79 41.60 36.32 36.32 36.32
Announcement Date 2/28/20 2/26/21 2/3/22 2/24/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,458 1,523 1,780 2,250 1,939 2,178 2,327 2,446
EBITDA 1 549 571.1 609.9 776.8 764.3 811.5 913.9 1,004
EBIT 1 281.2 295.5 325.8 472 444.8 445.2 493.1 551.6
Operating Margin 19.29% 19.4% 18.3% 20.98% 22.94% 20.44% 21.19% 22.55%
Earnings before Tax (EBT) 1 66.85 208 244.4 211.3 90.53 313.4 327 354
Net income 1 77.36 172.8 195.8 169.5 87.82 251 270.5 297
Net margin 5.31% 11.34% 11% 7.54% 4.53% 11.52% 11.62% 12.14%
EPS 2 0.9700 2.150 2.270 1.970 1.020 2.690 2.815 3.025
Free Cash Flow - - -387.1 - - - - -
FCF margin - - -21.75% - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.178 1.250 1.330 1.410 1.490 1.552 1.636 1.732
Announcement Date 2/28/20 2/26/21 2/3/22 2/24/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 554.6 434.1 444.1 499.7 729.9 575.8 544.1 477.2 505.9 412.1 531 480.6 566.9 618
EBITDA 1 - - - - - - - - - 128.9 176.4 183.4 179.1 155.9
EBIT 1 157.1 46.58 100.6 127.7 195.6 48.14 90.58 59.81 212.9 46.79 98.54 109.7 160.4 73.56
Operating Margin 28.33% 10.73% 22.64% 25.55% 26.79% 8.36% 16.65% 12.53% 42.09% 11.35% 18.56% 22.82% 28.3% 11.9%
Earnings before Tax (EBT) - - - - - - - - - - - - - -
Net income - 11.22 15.99 15.36 122.4 15.74 55.01 45.3 37.73 - - - - -
Net margin - 2.58% 3.6% 3.07% 16.77% 2.73% 10.11% 9.49% 7.46% - - - - -
EPS 2 1.320 0.1300 0.1900 0.1800 1.420 0.1800 0.6400 0.5300 0.4400 -0.5800 0.3800 0.5400 1.400 0.3800
Dividend per Share 2 0.3275 - - - - - - - - 0.3875 0.3874 0.3874 0.3874 0.3874
Announcement Date 10/28/21 2/3/22 4/28/22 8/4/22 11/4/22 2/24/23 5/5/23 8/4/23 10/27/23 2/6/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 3,189 3,279 - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) 5.809 x 5.742 x - - - - - -
Free Cash Flow - - -387 - - - - -
ROE (net income / shareholders' equity) 10.2% 8.97% 9.29% 7.78% 10.7% 9.69% 9.69% 9.89%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 21.10 23.90 25.30 25.50 27.30 29.50 31.30 -
Cash Flow per Share 2 6.290 6.050 6.360 6.580 6.380 6.090 7.490 -
Capex 1 616 679 935 913 1,076 1,176 1,273 1,153
Capex / Sales 42.28% 44.58% 52.53% 40.57% 55.48% 53.99% 54.7% 47.13%
Announcement Date 2/28/20 2/26/21 2/3/22 2/24/23 2/6/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for PNM Resources, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
36.32 USD
Average target price
43.43 USD
Spread / Average Target
+19.57%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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