TXNM Energy, Inc.

TXNMCIK 0001108426

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Financial snapshot

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Total debt

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Filings

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Analytical signals

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Calculations over this company’s filings, each compared with a stated threshold. They indicate where to read more closely; they are analytical evidence, not conclusions, and none implies wrongdoing.

Effective tax rate

P-05 · Calculated

Threshold met

FY 2025-12-31

The gap between the effective and the statutory tax rate, and whether it persists across three years.

ETR 5.7% vs 21% statutory — gap persistent across 3 of 3 years

Trend: flat

P-05 inputs
Input	Value
model score (0–100)	100.0
etr_by_year.2025-12-31	0.0566
etr_by_year.2024-12-31	0.0768
etr_by_year.2023-12-31	-0.1806
statutory_rate	0.21
gap_by_year.2025-12-31	0.1534
gap_by_year.2024-12-31	0.1332
gap_by_year.2023-12-31	0.3906
note	Low ETR can be fully legitimate; this flags persistence + magnitude for review.
stale	false
latest_filing_period	2025-12-31

Trend

10-K· 2026-02-27 Methodology

Restatement indicators

P-12 · Calculated

Threshold met

FY 2025-12-31

How closely reported accruals and financing patterns resemble those of companies that later restated.

F-Score 2.06 is above the 1.85 reference level of the Dechow et al. model

Trend: flat

P-12 inputs
Input	Value
model score (0–100)	68.8
f_score	2.064
probability	0.00764
components.rsst	null
components.drec	0.0018
components.dinv	0.0012
components.soft	0.9985
components.dcs	0.0877
components.droa	null
components.issue	1
model	Dechow et al. 2011, Model 1 (simplified RSST)
thresholds.elevated	1
thresholds.triggered	1.85
stale	false
latest_filing_period	2025-12-31

Trend

10-K· 2026-02-27 Methodology

Interest coverage

P-13 · Calculated

Elevated

FY 2023-12-31

Whether operating earnings cover interest expense, and for how many consecutive years they did not.

[FY2023 data, stale — no more recent EBIT figure in XBRL] Altman Z'' is below the 1.1 distress-zone cut-off

Trend: flat

P-13 inputs
Input	Value
model score (0–100)	20.0
icr_by_year.2025-12-31	null
icr_by_year.2024-12-31	null
icr_by_year.2023-12-31	1.215
icr_by_year.2022-12-31	3.078
consecutive_years_below_1	0
altman_z_double_prime	0.233
definitions.zombie	ICR<1 for 3+ consecutive FYs (BIS 2018)
definitions.z_distress	<1.1 distress, 1.1-2.6 gray, >2.6 safe
inputs.ebit_t	231340000
inputs.interest_expense_t	190355000
stale	true
latest_filing_period	2025-12-31

Trend

10-K· 2026-02-27 Methodology

Earnings quality

P-01 · Calculated

Below threshold

FY 2025-12-31

Beneish M-Score -2.32 is below the reference levels used here

Trend: flat

How reported earnings relate to accruals and to changes in receivables, margins and asset quality.

P-01 inputs
Input	Value
model score (0–100)	33.8
m_score	-2.317
threshold	-1.78
ratios.DSRI	1.06
ratios.GMI	1
ratios.AQI	0.998
ratios.SGI	1.099
ratios.DEPI	1
ratios.SGAI	1
ratios.LVGI	0.937
ratios.TATA	0
defaulted_to_neutral	GMI, DEPI, SGAI, TATA
sloan_accruals	null
inputs.revenue_t	2165606000
inputs.revenue_t1	1971199000
inputs.total_assets_t	12059285000
inputs.net_income_t	null
inputs.cfo_t	584489000
stale	false
latest_filing_period	2025-12-31

Trend

10-K· 2026-02-27 Methodology

No stored result for Subsidiary jurisdictions, ESG disclosure support, Pension funding, Insider filing timing, Language change, Strategic-review language, Carbon-exposed assets. Some signals are computed on request, and others need inputs this company’s filings do not tag; a missing result is not a finding either way.

Methodology and sources

Financial figures come from SEC XBRL company facts (annual reports). Choose any evidence marker to see the filing behind a value.
Filing text comes from SEC EDGAR. Browse this company on EDGAR ↗
Signals are calculated by Stratum from those filings. Some use AI to read filing text, and every AI claim must quote the document verbatim or it is discarded. Full methodology

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