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PNM Resources PNM
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Quarterly report 2026-Q1
added 07-31-2026

PNM Resources Financial Ratios 2025-2007 | PNM

Brief overview of PNM Resources's market valuation

Current figures are compared with the company's own five-year history for 2020–2024.

The current valuation set is P/E 14.62x (median 20.06x), EV/EBITDA 16.26x (median 12.75x), P/S 1.92x (median 1.92x). The combined ratio level is close to the company's five-year norm at a 0% deviation. No clear premium or discount is visible.

The 1/P/E calculation produces a 6.8% earnings yield. It does not capture future growth or capital structure.

Returns on assets and capital are represented by ROE 5%, ROA 1.4%, ROCE 13%. Profitability remains low. Market valuation has limited fundamental support until resource returns improve.

The PEG ratio is 1.71x; investors pay a high price per unit of expected growth.

The cash cycle changed only slightly and ended at 23.8 days.

Overall assessment

PNM Resources's market valuation is near its own historical norm, while quality ratios provide no extreme signal.

Annual Financial Ratios PNM Resources

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

P/E

- 14.6 29.5 22.8 18.1 20.1 56.3 39.2 37.5 22.8 154.9 20.8 19.5 15.9 8.9 - - - -

P/S

- 1.9 1.6 1.9 2.2 2.5 3.0 2.3 2.1 2.0 1.7 1.7 1.4 1.3 0.9 - - - -

EPS

1.5 2.7 1.0 2.0 2.3 2.2 1.0 1.1 1 1.5 0.2 1.5 1.3 1.3 2.0 -0.5 1.4 -3.2 -

EV (Enterprise Value)

8.58 B 12.4 B 11 B 11.2 B 10.3 B 9.53 B 9.93 B 8.47 B 7.88 B 7.39 B 6.73 B 6.42 B 5.71 B 5.35 B 5.09 B 3.48 B 3.49 B -141 M -17.8 M

EBITDA per Share

9.11 9.68 6.78 8.53 7.3 7.48 7.06 6.78 7.08 6.3 5.99 5.95 5.84 5.49 4.65 4.65 4 - -

EV/EBITDA

9.3 14.1 18.8 15.3 16.3 12.8 13.5 11.6 10.2 10.7 10.1 9.5 8.3 8.0 8.0 8.2 9.6 2.2 -

PEG

- 1.71 37.06 5.62 5.68 4.29 -6.45 6.22 -1.19 0.04 -1.8 1.31 -4.3 -0.48 0.02 - - - -

P/B

- 1.5 1.3 1.9 1.7 1.8 2.6 2.0 1.8 1.6 1.5 1.4 1.2 1.0 1.0 - - - -

P/CF

- 7.4 5.7 7.4 7.0 7.7 -38.8 -46.2 125.5 -14.5 -14.6 -53.0 51.2 -61.3 -45.3 - - - -

ROE %

4.99 10.20 4.55 8.45 9.53 8.88 4.61 5.07 4.71 6.96 0.97 6.74 6.00 6.55 11.16 -2.94 7.54 -14.67 -

ROA %

1.41 2.31 1.04 2.00 2.44 2.36 1.07 1.26 1.21 1.81 0.27 2.00 1.84 1.97 3.40 -0.87 2.32 - -

ROCE %

12.96 17.88 9.85 17.96 13.86 13.53 4.66 4.75 5.74 5.17 5.44 5.87 5.97 5.54 5.33 15.58 11.63 -12.46 -

Current Ratio

1.4 1.3 1.3 1.3 1.3 1.4 0.3 0.6 0.4 0.5 0.6 0.6 0.8 1.0 1.2 1.5 1.5 - -

DSO

23.8 23.8 29.2 24.9 24.3 23.9 40.2 43.0 43.6 58.4 47.0 50.1 55.2 81.3 66.8 - - - -

DIO

- - - - - - 45.5 41.9 39.4 44.9 34.6 32.1 36.2 33.2 21.0 - - - -

DPO

- - - - - - 60.2 65.4 71.9 53.4 51.6 55.5 59.0 55.1 39.9 - - - -

Operating Cycle

23.8 23.8 29.2 24.9 24.3 23.9 85.7 84.9 83.0 103.3 81.6 82.2 91.4 114.5 87.8 - - - -

Cash Conversion Cycle

23.8 23.8 29.2 24.9 24.3 23.9 25.5 19.5 11.1 50.0 30.0 26.7 32.4 59.4 47.9 - - - -

All numbers in USD currency

Quarterly Financial Ratios PNM Resources

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2

EPS

0.03 1.22 0.22 0.1 - 1.45 0.53 0.52 - 0.44 0.53 0.64 - 1.42 0.18 0.19 - 1.32 0.62 0.2 0.11 1.52 0.72 -0.19 0.4 1.29 -0.95 0.23 -0.7 1.1 0.48 0.19 -0.68 0.92 0.47 0.29 0.32 0.68 0.34 0.13 -1.15 0.77 0.4 0.18 0.24 0.7 0.37 0.16 0.1 0.68 0.35 0.13 0.11 0.73 0.27 0.21 1.36 0.48 0.04 0.18 0.53 0.25

EBITDA per Share

1.84 - - 2 - - - 2.03 - - - 2.16 - 5.09 1 1.77 - 4.54 0.86 1.42 0.22 4.77 2.84 1.57 0.76 4.57 0.68 1.39 -0.22 4.2 2.71 1.43 0.29 4.29 2.72 1.53 0.8 3.59 2.28 1.25 -1.5 3.6 2.27 1.31 0.79 3.44 2.19 1.26 0.51 3.45 2.28 1.28 0.46 3.41 2.07 1.28 0.8 2.85 1.42 1.1 2.81 1.88

ROE %

5.55 10.76 8.89 10.16 9.65 11.53 8.23 8.77 6.67 12.29 11.29 10.04 7.38 12.72 9.87 10.04 9.16 9.58 10.18 10.22 8.43 9.90 10.08 2.75 4.61 -0.55 -1.49 5.30 5.07 5.13 4.30 4.25 4.71 9.39 8.29 7.69 6.97 -0.03 0.41 0.71 0.95 7.57 7.12 6.90 6.75 6.11 6.13 6.09 6.01 6.11 6.45 6.14 6.56 13.11 12.29 11.21 11.20 7.00 5.62 1.06 2.91 1.39

ROA %

1.54 2.73 2.08 2.35 2.24 2.67 1.92 2.08 1.58 2.99 2.78 2.48 1.84 3.26 2.57 2.62 2.40 2.51 2.62 2.64 2.18 2.50 2.38 0.61 1.06 -0.18 -0.31 1.29 1.25 1.23 1.07 1.08 1.20 2.40 2.13 1.99 1.81 -0.10 0.08 0.18 0.26 2.11 2.05 2.02 2.00 1.81 1.85 1.85 1.83 1.86 1.94 1.84 1.96 3.95 3.71 3.39 3.39 2.14 1.72 0.32 0.90 0.42

ROCE %

13.32 18.72 17.09 18.15 15.28 19.07 15.44 15.51 12.16 20.26 20.42 19.57 15.19 22.08 17.54 15.71 12.57 13.48 13.80 13.72 13.92 16.62 17.78 8.73 8.59 3.95 3.16 13.44 13.98 16.36 17.19 17.51 18.08 20.52 18.56 17.41 16.59 5.59 6.49 7.00 7.51 18.36 17.81 17.57 17.41 16.18 16.43 16.94 17.14 17.00 17.31 16.71 17.02 18.80 18.33 16.37 16.35 18.60 16.21 3.32 6.32 4.48

Current Ratio

1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 - 1.3 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5

DSO

29.5 23.8 25.3 24.8 - 21.8 21.2 24.1 - 26.7 23.9 26.2 - 11.2 10.6 24.6 - 21.8 24.2 27.0 28.8 21.9 28.9 27.3 22.8 18.1 23.7 23.3 24.6 20.0 24.0 26.3 - 19.7 22.8 24.5 - - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

- 23.8 25.3 24.8 - 21.8 21.2 24.1 - 26.7 23.9 26.2 - 11.2 10.6 24.6 - 21.8 24.2 27.0 28.8 21.9 28.9 27.3 22.8 18.1 23.7 23.3 24.6 20.0 24.0 26.3 - 19.7 22.8 24.5 - - - - - - - - - - - - - - - - - - - - - - - - - -

Cash Conversion Cycle

- 23.8 25.3 24.8 - 21.8 21.2 24.1 - 26.7 23.9 26.2 - 11.2 10.6 24.6 - 21.8 24.2 27.0 28.8 21.9 28.9 27.3 22.8 18.1 23.7 23.3 24.6 20.0 24.0 26.3 - 19.7 22.8 24.5 - - - - - - - - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company PNM Resources, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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