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General information


Sector: Utilities — Regulated Electric

PNM Resources, Inc., through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity. It generates electricity using coal, natural gas and oil, nuclear fuel, solar, wind, and geothermal energy sources. As of December 31, 2018, this segment had owned or leased facilities with a total net generation capacity of 2,102 megawatts; and owned 3,206 miles of electric transmission lines, 6,067 miles of distribution overhead lines, 5,885 miles of underground distribution lines, and 255 substations. It also owns and leases office and other equipment, office space, vehicles, and real estate. The TNMP segment provides regulated transmission and distribution services. As of December 31, 2018, this segment owned 997 miles of overhead electric transmission lines, 7,151 miles of overhead distribution lines, 1,260 miles of underground distribution lines, and 122 substations. It also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves approximately 782,000 residential, commercial, and industrial customers, as well as end-users of electricity in New Mexico and Texas...
  • Dividend yield for the last twelve months 2.9%
  • Free cash flow yield -16.8% (LTM)
  • Share price is 36.1% higher than minimum and 3.0% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (16.2x vs

Key Financials (Download financials)

Ticker: PNM
Share price, USD:  (-0.2%)48.68
year average price 47.79  

year start price 47.76 2022-04-02

min close price 44.33 2022-06-16

max close price 49.51 2023-01-20

current price 48.68 2023-04-01
Common stocks: 85 834 895

Dividend Yield:  2.9%
FCF Yield LTM: -16.8%
EV / LTM EBITDA: 16.2x
EV / EBITDA annualized: 30.2x
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 4 178
Net Debt ($m): 4 164
EV (Enterprise Value): 8 342
EBITDA LTM ($m): 514
EV / LTM EBITDA: 16.2x
Price to Book: 1.9x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF / Free Cash Flow ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / LTM EBITDA and 75% percentile

Potential dynamics


2023-02-24Seeking Alpha

PNM Resources, Inc. (PNM) Q4 2022 Earnings Call Transcript

2023-02-24Zacks Investment Research

PNM Resources (PNM) Q4 Earnings Decline Y/Y, Revenues Rise

2023-01-31Zacks Investment Research

PNM Resources' (PNM) Board Hikes Dividend by 5.8%


PNM Resources to Announce 2022 Earnings on February 24

2022-11-24Seeking Alpha

PNM Resources: Resource Troubles, Uncertain Direction, And Overvaluation

2022-11-07Zacks Investment Research

PNM Resources (PNM) Q3 Earnings Top Estimates,'22 View Raised

2022-11-04Seeking Alpha

PNM Resources, Inc. (PNM) Q3 2022 Earnings Call Transcript


PNM Resources to Announce 2022 Third Quarter Earnings on November 4

2022-09-28Zacks Investment Research

PNM Resources (PNM) Gains on Investment Amid Regulations

2022-08-22Zacks Investment Research

Why PNM Resources (PNM) is a Top Dividend Stock for Your Portfolio
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