Atmos Energy (MIL:1ATO) Cyclically Adjusted Revenue per Share: €27.71 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MIL:1ATO Atmos Energy Corp MIL:1ATO
57 GF Score
Price €146.80
GF Value €127.81
Valuation Modestly Overvalued
! 7 Warning Signs
View Full Analysis

What is Atmos Energy Cyclically Adjusted Revenue per Share?

Atmos Energy MIL:1ATO 57 Cyclically Adjusted Revenue per Share is €27.71 as of Mar. 2026. GuruFocus rates MIL:1ATO with a GF Score™ of 57/100 and a GF Value™ of €127.81 (Modestly Overvalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Atmos Energy's adjusted revenue per share for the three months ended in Mar. 2026 was €10.115. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is €27.71 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Atmos Energy's average Cyclically Adjusted Revenue Growth Rate was 5.50% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was -4.20% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was -2.70% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was -5.70% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Atmos Energy was 6.60% per year. The lowest was -9.80% per year. And the median was -1.30% per year.

As of today (2026-07-25), Atmos Energy's current stock price is €146.80. Atmos Energy's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €27.71. Atmos Energy's Cyclically Adjusted PS Ratio of today is 5.30.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Atmos Energy was 5.90. The lowest was 1.32. And the median was 2.83.


Atmos Energy  (MIL:1ATO) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Atmos Energy's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=146.80/27.71
=5.30

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Atmos Energy was 5.90. The lowest was 1.32. And the median was 2.83.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Atmos Energy Cyclically Adjusted Revenue per Share Related Terms


Atmos Energy Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Atmos Energy's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Atmos Energy Cyclically Adjusted Revenue per Share Chart

Atmos Energy Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 25.26

Atmos Energy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 25.26 27.01 27.71

MIL:1ATO vs NI, UGI, SWX: Cyclically Adjusted Revenue per Share Comparison

For the Utilities - Regulated Gas subindustry, Atmos Energy's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Atmos Energy Cyclically Adjusted PS Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Atmos Energy's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Atmos Energy's Cyclically Adjusted PS Ratio falls into.


MIL:1ATO
57GF Score
Atmos Energy Corp MIL:1ATO
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Atmos Energy Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Atmos Energy's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=10.115/330.2130*330.2130
=10.115

Current CPI (Mar. 2026) = 330.2130.

Atmos Energy Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 3.914 241.018 5.362
201609 3.691 241.428 5.048
201612 7.025 241.432 9.608
201703 8.722 243.801 11.813
201706 4.405 244.955 5.938
201709 3.652 246.819 4.886
201712 6.921 246.524 9.271
201803 8.853 249.554 11.714
201806 4.303 251.989 5.639
201809 3.405 252.439 4.454
201812 6.778 251.233 8.909
201903 8.227 254.202 10.687
201906 3.630 256.143 4.680
201909 3.362 256.759 4.324
201912 6.493 256.974 8.344
202003 7.194 258.115 9.203
202006 3.558 257.797 4.557
202009 3.249 260.280 4.122
202012 5.917 260.474 7.501
202103 8.578 264.877 10.694
202106 3.823 271.696 4.646
202109 3.670 274.310 4.418
202112 6.704 278.802 7.940
202203 10.915 287.504 12.536
202206 5.508 296.311 6.138
202209 5.168 296.808 5.750
202212 9.870 296.797 10.981
202303 9.996 301.836 10.936
202306 4.188 305.109 4.533
202309 3.704 307.789 3.974
202312 7.092 306.746 7.635
202403 10.016 312.332 10.589
202406 4.249 314.175 4.466
202409 3.796 315.301 3.976
202412 7.116 315.605 7.445
202503 11.246 319.799 11.612
202506 4.512 322.561 4.619
202509 3.857 324.800 3.921
202512 6.954 324.054 7.086
202603 10.115 330.213 10.115

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of €27.71 mean?
Atmos Energy (MIL:1ATO) has a Cyclically Adjusted Revenue per Share of €27.71 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Atmos Energy and its competitors.
Is Atmos Energy's Cyclically Adjusted Revenue per Share too high?
Atmos Energy's current Cyclically Adjusted Revenue per Share is €27.71. Overall, Atmos Energy has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Atmos Energy's Cyclically Adjusted Revenue per Share compare to NI and UGI?
Atmos Energy's Cyclically Adjusted Revenue per Share of €27.71 can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for an Utilities - Regulated company?
A good Cyclically Adjusted Revenue per Share depends on the Utilities - Regulated industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Atmos Energy and its competitors. Atmos Energy's current Cyclically Adjusted Revenue per Share is €27.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atmos Energy stock overvalued right now?
Based on GuruFocus' analysis, Atmos Energy (MIL:1ATO) is currently considered Modestly Overvalued. The stock's GF Value™ is €127.81, compared to a current price of €146.80 — trading 14.9% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is €27.71. Atmos Energy's overall GF Score™ is 57/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Atmos Energy (MIL:1ATO), the current Cyclically Adjusted Revenue per Share is €27.71 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Atmos Energy (MIL:1ATO) Overvalued in 2026?

Based on GuruFocus' analysis, Atmos Energy stock appears to be overvalued. The current stock price of €146.80 is trading 14.9% above its estimated GF Value™ of €127.81. GuruFocus considers Atmos Energy to be Modestly Overvalued.

Key valuation signals for MIL:1ATO:

  • Cyclically Adjusted Revenue per Share: €27.71
  • GF Value™: €127.81 vs. price of €146.80 (14.9% above fair value)
  • GF Score™: 57/100 with 7 warning signs

No single metric tells the full story. See the MIL:1ATO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Atmos Energy Business Description

Address 5430 LBJ Freeway, Suite 1800, Three Lincoln Centre, Dallas, TX, USA, 75240
Atmos Energy is the largest publicly traded, fully regulated, pure-play natural gas utility in the United States, serving more than 3.3 million customers in Texas, Colorado, Kansas, Kentucky, Louisiana, Mississippi, Tennessee, and Virginia. About two thirds of its earnings come from Texas, where it distributes natural gas in northern Texas and owns an intrastate gas pipeline spanning several key shale gas formations and interconnected with five storage facilities.
57GF Score

Get the complete analysis for MIL:1ATO

Cyclically Adjusted Revenue per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€146.80
Price
€127.81
GF Value