ATO (Atmos Energy) ROCE %: 10.89% (As of Mar. 2026)

What is Atmos Energy ROCE %?

Atmos Energy ATO +0.88% 85 ROCE % is 10.89% as of Mar. 2026. GuruFocus rates ATO with a GF Score™ of 85/100 and a GF Value™ of $155.79 (Modestly Overvalued). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Atmos Energy's annualized ROCE % for the quarter that ended in Mar. 2026 was 10.89%.

Atmos Energy (NYSE:ATO) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Atmos Energy ROCE % Related Terms

Atmos Energy ROCE % Historical Data

* Premium members only.

The historical data trend for Atmos Energy's ROCE % 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 ROCE % Chart

Atmos Energy Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

ROCE %

Get a 7-Day Free Trial

5.89

5.50

5.72

6.32

6.49

Atmos Energy Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															10.22	4.16	3.60	7.78	10.89

85GF Score

Atmos Energy Corp ATO

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Atmos Energy ROCE % Calculation

Atmos Energy's annualized ROCE % for the fiscal year that ended in Sep. 2025 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2025 )		(A: Sep. 2024 )		(A: Sep. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2025 )		(A: Sep. 2024 )		(A: Sep. 2025 )
	=	1649.712	/	( ( (25194.465 - 1205.875)	+	(28249.522 - 1362.615) )	/ 2 )
	=	1649.712	/	( (23988.59	+	26886.907)	/ 2 )
	=	1649.712	/	25437.7485
	=	6.49 %

Atmos Energy's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	3129.28	/	( ( (29798.395 - 1447.031)	+	(30380.096 - 1258.488) )	/ 2 )
	=	3129.28	/	( ( 28351.364	+	29121.608 )	/ 2 )
	=	3129.28	/	28736.486
	=	10.89 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 10.89% mean?

Atmos Energy (ATO) has a ROCE % of 10.89% as of Mar. 2026.

Is Atmos Energy's ROCE % too high?

Atmos Energy's current ROCE % is 10.89%. The Utilities - Regulated industry median ROCE % is 6.95. Atmos Energy's value of 10.89% is 56.7% above this industry median. Overall, Atmos Energy has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Atmos Energy's ROCE % compare to NI and UGI?

Atmos Energy's ROCE % of 10.89% can be compared against companies in the Utilities - Regulated industry. The industry median ROCE % is 6.95. Atmos Energy's value of 10.89% is 56.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for an Utilities - Regulated company?

The median ROCE % among Utilities - Regulated companies is 6.95, based on 505 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Atmos Energy's current ROCE % of 10.89% is 56.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median ROCE % is 6.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atmos Energy's current ROCE % is 10.89%. 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 (ATO) is currently considered Modestly Overvalued. The stock's GF Value™ is $155.79, compared to a current price of $172.59 — trading 10.8% above its estimated fair value. The current ROCE % is 10.89% and 56.7% above the Utilities - Regulated industry median of 6.95. Atmos Energy's overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Atmos Energy (ATO), the current ROCE % is 10.89% 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 (ATO) Overvalued in 2026?

Based on GuruFocus' analysis, Atmos Energy stock appears to be overvalued. The current stock price of $172.59 is trading 10.8% above its estimated GF Value™ of $155.79. GuruFocus considers Atmos Energy to be Modestly Overvalued.

Key valuation signals for ATO:

ROCE %: 10.89%
GF Value™: $155.79 vs. price of $172.59 (10.8% above fair value)
GF Score™: 85/100 with 4 warning signs
Industry Position: 56.7% above the Utilities - Regulated median

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

Atmos Energy Business Description

Industry Utilities Utilities - Regulated

Comparable Companies NI UGI SWX NJR BKH OGS SR MDU CTRI CPK XMAD:NTGY MIL:SRG XTER:UN0 HKSE:00003 TSE:9531 TSE:9532 MIL:IG BOM:532155 ASX:APA SHSE:600803

Other Exchanges 1ATO:Italy AEO:Germany A1TM34:Brazil

Address 5430 LBJ Freeway, Suite 1800, Three Lincoln Centre, Dallas, TX, USA, 75240

Website https://www.atmosenergy.com

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.

85GF Score

Get the complete analysis for ATO

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$172.59

Price

$155.79

GF Value

View ATO Analysis

See ROCE % data for all stocks →