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

Atmos Energy (ATO) has 18 years of Operating Margin data on file, last reported at 38.97% in Q1 2026.

• Operating Margin for Q1 2026 came in at 38.97%, up 673.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 35.87% (up 258.0% YoY), and the FY2025 annual result was 33.17%, up 63.0% from the prior year.
• Operating Margin advanced to 38.97% in Q1 2026 per ATO's latest filing, from 38.34% in the prior quarter.
• Over five years, Operating Margin peaked at 39.07% in Q4 2024 and troughed at 14.59% in Q3 2022.
• A 5-year average of 29.03% and a median of 29.76% in 2025 frame the typical range for Operating Margin.
• The sharpest annual moves came in 2022 and 2023: Operating Margin plunged 560 bps in 2022, then surged 1281 bps in 2023.
• 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.
• Business Quant data shows ATO's Operating Margin at 38.97% in Q1 2026, 38.34% in Q4 2025, and 29.76% in Q3 2025.