Atmos Energy Corporation (ATO)

Return on equity (ROE)

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Net income	US$ in thousands	885,862	774,398	665,563	601,443	511,406
Total stockholders’ equity	US$ in thousands	10,870,100	9,419,090	7,906,890	6,791,200	5,750,220
ROE		8.15%	8.22%	8.42%	8.86%	8.89%

September 30, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $885,862K ÷ $10,870,100K
= 8.15%

The return on equity (ROE) for Atmos Energy Corp. has shown a gradual decline over the past five years, decreasing from 8.89% in 2019 to 8.14% in 2023. This indicates that the company's ability to generate profits from shareholders' equity has weakened slightly over this period.

While the ROE has remained relatively stable in the range of 8.14% to 8.89% during the analyzed period, it is important to note that even a small decrease in ROE can have a significant impact on the company's profitability and efficiency in utilizing equity capital.

It is advisable to further investigate the factors contributing to the decline in ROE and to consider potential strategies aimed at improving the company's profitability relative to its shareholder equity. Additionally, comparing Atmos Energy Corp.'s ROE to industry benchmarks and peers' performance may provide valuable insights into the company's competitive position and potential areas for improvement.