Atmos Energy (ATO) Operating Margin (2009 - 2026)

Atmos Energy has disclosed Operating Margin across 18 years of filings, most recently posting 38.97% for Q1 2026.

• In Q1 2026, Operating Margin rose 673.0% year-over-year to 38.97%; the TTM figure through Mar 2026 stood at 35.87% (up 258.0% YoY), while the FY2025 annual figure was 33.17%, up 63.0% from the prior year.
• Operating Margin improved to 38.97% in Q1 2026, from 38.34% in the prior quarter.
• Over the last five years, Operating Margin for ATO reached as high as 39.07% in Q4 2024 and fell as low as 14.59% in Q3 2022.
• The 5-year median for Operating Margin is 29.76% (2025), against an average of 29.03%.
• Annual changes were most pronounced in 2022 — Operating Margin slumped 560 bps — and 2023, when it surged 1281 bps.
• A 5-year view of Operating Margin shows it stood at 21.64% in 2022, then jumped by 59 bps to 34.45% in 2023, then climbed by 13 bps to 39.07% in 2024, then dropped by 2 bps to 38.34% in 2025, then gained by 2 bps to 38.97% in 2026.
• According to Business Quant data, Operating Margin over the past three periods registered 38.97%, 38.34%, and 29.76% for Q1 2026, Q4 2025, and Q3 2025 respectively.