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Close of 9 Nov 2026, in USD
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About TXNM Energy
From its filings with the US Securities and Exchange Commission
TXNM Energy is based in Albuquerque, New Mexico and is incorporated in New Mexico. Its shares trade on NYSE under the ticker TXNM. The SEC classifies its business as electric services. In the fiscal year to 31 December 2025, it reported revenue of $2.17bn and net income of $169.8m. At that date it held total assets of $12.06bn and shareholders' equity of $3.40bn.
TXNM Energy, Inc. (“TXNM”), is a holding company with two regulated electric utilities, PNM and TNMP, serving approximately 842,000 residential, commercial, and industrial customers in New Mexico and Texas. TXNM was incorporated in the State of New Mexico in 2000.
The Company believes that maintaining strong and modern electric infrastructure is critical to ensuring reliability and supporting economic growth. PNM and TNMP strive to balance service affordability with infrastructure investment to maintain a high level of electric reliability and to deliver a safe and superior customer experience.
Both PNM and TNMP seek cost recovery for their investments through general rate cases, periodic cost of service filings, and various rate riders. Additional information about rate filings is provided in Operations and Regulation below and in Note 17.
Financial information relating to amounts of revenue, net earnings, and total assets of reportable segments is contained in MD&A and Note 2.
On May 18, 2025, TXNM, Parent, and Merger Sub (both Parent and Merger Sub are affiliates of Blackstone Infrastructure) entered into the Merger Agreement pursuant to which Merger Sub will merge with and into TXNM, with TXNM surviving the Merger as a direct, wholly-owned subsidiary of Parent. Pursuant to the Merger Agreement, each issued and outstanding share of the common stock of TXNM (other than those listed in Note 22) at the Effective Time will be converted into the right to receive $61.25 in cash, without interest.
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Utilities
- Industry
- Electric Utilities
- Listed since
- 17 Mar 1980
- Employees
- 389
- Website
- pnmresources.com ↗
- Head office
- 414 SILVER AVE. SW, ALBUQUERQUE, NM, 87102-3289
- Incorporated in
- NM
- Classification
- Electric Services
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Ms. Patricia Vincent-CollawnExecutive Chairman of the Board, since 2007$5.6m
- Mr. Joseph TarryPresident, Chief Executive Officer, Director, since 2015$2.9m
- Mr. Henry MonroyChief Financial Officer, Senior Vice President
- Mr. Brian IversonSenior Vice President - Regulatory and Public Policy, General Counsel, Corporate Secretary$1.1m
- Mr. Norman BeckerLead Independent Director$273,000
- Ms. Vicky BaileyIndependent Director$258,000
- Ms. E. Renae ConleyIndependent Director$258,000
- Mr. Sidney GutierrezIndependent Director$243,000
- Mr. James HughesIndependent Director$243,000
- Mr. Steven MaestasIndependent Director$213,750
- Ms. Lillian MontoyaIndependent Director$213,750
- Ms. Maureen MullarkeyIndependent Director$258,000
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 58
- Environment
- 50
- Social
- 36
- Governance
- 87
- Direct emissions (scope 1)
- 4,844,547 t
- Energy emissions (scope 2)
- 339,439 t
- Women in the workforce
- 28.4%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- PNM Resources Inc has several key strengths that contribute to its success in the market. Firstly, the company has a strong market position and brand recognition. With its long history of providing reliable utility services, PNM Resources Inc has built a solid reputation and customer base. This established presence allows the company to benefit from economies of scale and maintain a competitive edge.
- Secondly, PNM Resources Inc has a diverse portfolio of energy resources. This diversity, including a mix of coal, natural gas, and solar power plants, provides the company with flexibility and resilience in the face of changing market conditions and regulations. Its ability to adapt to evolving energy demands enhances its long-term sustainability.
- Lastly, PNM Resources Inc has made significant investments in technology and infrastructure. The company has implemented advanced metering and smart grid technologies, which improve operational efficiency and enable more accurate monitoring and management of energy consumption. These investments position PNM Resources Inc as an industry leader in innovation and sustainability.
Weaknesses
- Despite its strengths, PNM Resources Inc also faces certain weaknesses that need to be addressed. One of the main weaknesses is its heavy reliance on traditional fossil fuel-based energy sources. As the demand for renewable energy continues to grow, the company may face challenges in transitioning its energy generation portfolio, which may lead to increased costs and potential market share loss.
- Another weakness lies in the vulnerability to regulatory changes and environmental policies. PNM Resources Inc operates in a highly regulated industry, and changes in regulations regarding emissions, carbon pricing, or renewable energy incentives can significantly impact its operations and profitability. Adapting to these regulatory changes requires ongoing investments and strategic planning.
- Furthermore, PNM Resources Inc operates primarily in a single geographical region, limiting its geographical diversification. This regional concentration exposes the company to specific risks associated with local economic conditions, weather patterns, and natural disasters. Diversifying its operations across broader geographical areas could mitigate these risks and provide new growth opportunities.
Opportunities
- PNM Resources Inc has several opportunities to enhance its position in the market. Firstly, the increasing global focus on sustainability and clean energy presents growth potential for the company. By investing and expanding its renewable energy generation capacity, PNM Resources Inc can capture a larger share of the market and attract environmentally conscious customers.
- Additionally, the growing demand for electric vehicles (EVs) and charging infrastructure creates opportunities for PNM Resources Inc to partner with EV manufacturers and participate in the development of EV charging networks. This would not only support the adoption of EVs but also provide a new revenue stream for the company.
- Furthermore, PNM Resources Inc can leverage emerging technologies and data analytics to optimize its operations and improve customer experience. By utilizing advanced analytics, the company can gain valuable insights into energy consumption patterns, enabling personalized offerings and energy efficiency programs for customers.
Threats
- PNM Resources Inc faces certain threats that could impact its business negatively. Firstly, intense competition within the energy sector poses a risk to the company. The presence of numerous competitors, including both traditional utility companies and emerging renewable energy providers, increases the pressure on PNM Resources Inc to differentiate itself and maintain competitive pricing.
- Another threat comes from potential disruptions in the supply chain, particularly related to fuel sourcing. Fluctuating fuel prices, geopolitical tensions, or supply disruptions could affect the cost and availability of resources required for energy generation, thus impacting the company's profitability and operational continuity.
- Lastly, economic downturns or recessions can significantly impact energy demand and consumer spending, potentially leading to reduced revenue for PNM Resources Inc. In such periods, the company needs to maintain financial resilience and efficiency to withstand any challenges caused by the economic environment.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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