Atmos Energy vs Spire
Atmos Energy reported revenue of $4.7 billion in fiscal 2025, 1.9 times Spire's $2.5 billion in fiscal 2025. Atmos Energy's revenue grew 12.9% in its latest year, and Spire's fell 4.5%. Atmos Energy had an operating margin of 33.2%, against 21.2% at Spire. Free cash flow was −$1.5 billion at Atmos Energy and −$344 million at Spire.
Side by side
| Atmos Energy | Spire | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Sep 30, 2025 |
| Revenue | $4.7B | $2.5B |
| Revenue growth | 12.9% | −4.5% |
| Revenue growth a year, last 5 years | 10.8% | 5.9% |
| Gross margin | — | 58.8% |
| Operating margin | 33.2% | 21.2% |
| Net margin | 25.5% | 11.0% |
| Free cash flow | −$1.5B | −$344M |
| Free cash flow margin | −32.1% | −13.9% |
| Return on capital | 6.0% | 5.2% |
| Net debt to EBITDA | 3.8x | 6.3x |
| Dividends and buybacks | $554M | $182M |
| Change in diluted share count | 5.2% | 4.3% |
| Last close | $171.29 | $85.74 |
| P/E at the last close | 20.4× | 15.1× |
| Insider trades, last 12 months | bought $50,277, sold $77,018 | bought $251,100, sold $307,709 |
| Piotroski F-score | 5 of 8 | 5 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Atmos EnergySpire
Operating margin
Percent of revenue
Atmos EnergySpire
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Atmos EnergySpire
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Atmos Energy and Spire pages.