TXNM Energy, Inc. (TXNM)

Financial leverage ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Total assets	US$ in thousands	11,211,700	10,843,500	10,583,400	10,257,700	10,252,600	10,050,800	9,626,970	9,353,140	9,625,570	9,028,890	8,911,100	8,727,690	8,666,880	8,256,070	8,120,470	7,943,310	7,939,850	7,742,110	7,574,470	7,375,120
Total stockholders’ equity	US$ in thousands	2,547,910	2,471,510	2,414,280	2,367,260	2,360,620	2,246,740	2,273,770	2,223,720	2,203,460	2,201,880	2,131,520	2,115,530	2,167,520	2,144,950	2,088,230	2,030,970	2,049,460	1,773,320	1,696,500	1,627,220
Financial leverage ratio		4.40	4.39	4.38	4.33	4.34	4.47	4.23	4.21	4.37	4.10	4.18	4.13	4.00	3.85	3.89	3.91	3.87	4.37	4.46	4.53

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $11,211,700K ÷ $2,547,910K
= 4.40

TXNM Energy, Inc.'s financial leverage ratio has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The financial leverage ratio was at its highest in March 2020 at 4.53 and experienced a gradual decline until December 2020, where it decreased to 3.87. Subsequently, the ratio showed slight fluctuations but generally remained in the range of 3.85 to 4.18 until September 2022.

From December 2022 to March 2024, TXNM Energy's financial leverage ratio fluctuated between 4.21 and 4.47, indicating some level of variability in the company's debt utilization during this period. Overall, the trend suggests that the company has maintained a relatively high level of financial leverage, hovering around 4.0, which may indicate a significant reliance on debt to finance its operations. Investors and stakeholders should continue to monitor this metric to assess the company's ability to manage its debt levels effectively.