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PNM Resources

DB:98P
Snowflake Description

Reasonable growth potential average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
98P
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

PNM Resources, Inc., through its subsidiaries, engages in the energy and energy-related businesses in the United States. The last earnings update was 36 days ago. More info.


Add to Portfolio Compare Print
  • PNM Resources has significant price volatility in the past 3 months.
98P Share Price and Events
7 Day Returns
8.4%
DB:98P
0.7%
Europe Electric Utilities
2.1%
DE Market
1 Year Returns
-5.1%
DB:98P
-0.5%
Europe Electric Utilities
-16.6%
DE Market
98P Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PNM Resources (98P) 8.4% -15.7% -12.3% -5.1% 8.7% 46%
Europe Electric Utilities 0.7% -17.1% -11.1% -0.5% 22.1% -2%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • 98P underperformed the Electric Utilities industry which returned -0.5% over the past year.
  • 98P outperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
98P
Industry
5yr Volatility vs Market

Value

 Is PNM Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PNM Resources to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PNM Resources.

DB:98P Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in USD $ 1.3100833333333
Payout Ratio Company Filings (2019-12-31) 9515%
Discount Rate (Cost of Equity) See below 4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:98P
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.272 (1 + (1- 21%) (99.82%))
0.655
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 5.44%)
3.96%

Discounted Cash Flow Calculation for DB:98P using Dividend Discount Model Model

The calculations below outline how an intrinsic value for PNM Resources is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

DB:98P Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= $1.31 / (3.96% - -0.39%)
$25.2
DB:98P Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:98P represents 0.9149x of NYSE:PNM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9149x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 30.10 x 0.9149
€27.54
Value per share (EUR) From above. €27.54
Current discount Discount to share price of €38.60
= -1 x (€38.60 - €27.54) / €27.54
-40.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of PNM Resources is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PNM Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PNM Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:98P PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.97
NYSE:PNM Share Price ** NYSE (2020-04-07) in USD $42.19
Europe Electric Utilities Industry PE Ratio Median Figure of 74 Publicly-Listed Electric Utilities Companies 10.45x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PNM Resources.

DB:98P PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PNM Share Price ÷ EPS (both in USD)

= 42.19 ÷ 0.97

43.59x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNM Resources is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • PNM Resources is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does PNM Resources's expected growth come at a high price?
Raw Data
DB:98P PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 43.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
20.3%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 35 Publicly-Listed Electric Utilities Companies 1.6x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:98P PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 43.59x ÷ 20.3%

2.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNM Resources is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PNM Resources's assets?
Raw Data
DB:98P PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $21.07
NYSE:PNM Share Price * NYSE (2020-04-07) in USD $42.19
Europe Electric Utilities Industry PB Ratio Median Figure of 87 Publicly-Listed Electric Utilities Companies 0.78x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:98P PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PNM Share Price ÷ Book Value per Share (both in USD)

= 42.19 ÷ 21.07

2x

* Primary Listing of PNM Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PNM Resources is overvalued based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess PNM Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. PNM Resources has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PNM Resources expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
20.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PNM Resources expected to grow at an attractive rate?
  • PNM Resources's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • PNM Resources's earnings growth is expected to exceed the Germany market average.
  • PNM Resources's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:98P Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:98P Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 20.3%
DB:98P Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.2%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:98P Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:98P Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31 1,722 630 227 1
2022-12-31 1,664 588 213 3
2021-12-31 1,597 476 204 4
2020-12-31 1,542 475 175 5
2020-04-07
DB:98P Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,458 503 77
2019-09-30 1,457 463 -10
2019-06-30 1,446 466 -25
2019-03-31 1,468 454 89
2018-12-31 1,437 428 86
2018-09-30 1,425 424 86
2018-06-30 1,423 457 73
2018-03-31 1,433 471 72
2017-12-31 1,445 523 80
2017-09-30 1,449 511 159
2017-06-30 1,429 494 140
2017-03-31 1,382 456 129

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PNM Resources's earnings are expected to grow significantly at over 20% yearly.
  • PNM Resources's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:98P Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from PNM Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:98P Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 2.67 2.67 2.67 1.00
2022-12-31 2.51 2.51 2.51 1.00
2021-12-31 2.40 2.40 2.40 1.00
2020-12-31 2.17 2.19 2.15 2.00
2020-04-07
DB:98P Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.97
2019-09-30 -0.12
2019-06-30 -0.31
2019-03-31 1.12
2018-12-31 1.07
2018-09-30 1.08
2018-06-30 0.91
2018-03-31 0.90
2017-12-31 1.00
2017-09-30 2.00
2017-06-30 1.75
2017-03-31 1.63

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PNM Resources is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PNM Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PNM Resources has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PNM Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PNM Resources's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PNM Resources's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • PNM Resources's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PNM Resources's 1-year earnings growth is negative, it can't be compared to the Europe Electric Utilities industry average.
Earnings and Revenue History
PNM Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PNM Resources Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:98P Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,457.60 77.36 194.61
2019-09-30 1,457.21 -9.52 193.83
2019-06-30 1,446.29 -24.77 196.13
2019-03-31 1,468.38 89.35 196.54
2018-12-31 1,436.61 85.64 193.19
2018-09-30 1,425.46 86.44 198.99
2018-06-30 1,422.70 72.66 191.98
2018-03-31 1,432.70 72.00 187.81
2017-12-31 1,445.00 79.87 185.97
2017-09-30 1,448.62 158.97 184.81
2017-06-30 1,429.10 139.64 187.62
2017-03-31 1,382.17 129.17 192.31
2016-12-31 1,362.95 116.85 191.47
2016-09-30 1,362.62 0.62 188.15
2016-06-30 1,379.68 7.25 187.58
2016-03-31 1,417.18 11.85 182.35
2015-12-31 1,439.08 15.64 179.10
2015-09-30 1,450.03 126.05 169.99
2015-06-30 1,446.55 120.66 165.81
2015-03-31 1,439.82 118.13 171.11
2014-12-31 1,435.85 116.25 171.11
2014-09-30 1,411.94 104.91 175.75
2014-06-30 1,397.72 103.81 180.47
2014-03-31 1,399.16 102.35 178.38
2013-12-31 1,387.92 100.51 179.21
2013-09-30 1,387.75 101.95 179.70
2013-06-30 1,378.43 105.26 178.07

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PNM Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PNM Resources used its assets less efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • PNM Resources's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PNM Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PNM Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PNM Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PNM Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PNM Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PNM Resources's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PNM Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PNM Resources Company Filings, last reported 3 months ago.

DB:98P Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,753.28 3,192.82 3.83
2019-09-30 1,746.62 3,141.83 20.09
2019-06-30 1,686.27 3,114.74 4.23
2019-03-31 1,758.99 3,168.04 180.09
2018-12-31 1,764.12 2,906.01 3.12
2018-09-30 1,848.05 2,877.11 34.96
2018-06-30 1,799.84 2,876.64 4.89
2018-03-31 1,760.54 2,820.25 3.78
2017-12-31 1,772.98 2,743.05 5.37
2017-09-30 1,844.68 2,714.70 43.15
2017-06-30 1,806.97 2,747.36 2.19
2017-03-31 1,766.51 2,687.66 2.28
2016-12-31 1,756.40 2,679.81 4.52
2016-09-30 1,769.85 2,664.94 7.68
2016-06-30 1,749.94 2,726.82 4.94
2016-03-31 1,722.59 2,632.48 3.87
2015-12-31 1,737.75 2,342.55 46.05
2015-09-30 1,847.19 2,207.98 26.94
2015-06-30 1,825.41 2,218.76 6.40
2015-03-31 1,798.69 2,225.01 122.40
2014-12-31 1,806.62 2,067.99 28.27
2014-09-30 1,809.69 1,975.17 28.42
2014-06-30 1,784.34 1,980.25 12.11
2014-03-31 1,753.54 1,945.34 27.17
2013-12-31 1,762.13 1,894.62 2.53
2013-09-30 1,754.99 1,860.84 33.44
2013-06-30 1,721.20 1,923.68 34.80
  • PNM Resources's level of debt (182.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (114.6% vs 182.1% today).
  • Debt is not well covered by operating cash flow (15.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess PNM Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PNM Resources has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PNM Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.92%
Current annual income from PNM Resources dividends. Estimated to be 3.11% next year.
If you bought €2,000 of PNM Resources shares you are expected to receive €58 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PNM Resources's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • PNM Resources's dividend is below the markets top 25% of dividend payers in Germany (4.71%).
Upcoming dividend payment

Purchase PNM Resources before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:98P Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:98P Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 1.46 1.00
2022-12-31 1.37 2.00
2021-12-31 1.30 3.00
2020-12-31 1.23 3.00
2020-04-07
DB:98P Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-21 1.230 2.985
2019-12-06 1.230 2.369
2019-09-24 1.160 2.308
2019-07-23 1.160 2.300
2019-02-22 1.160 2.439
2018-12-07 1.160 2.746
2018-09-19 1.060 2.636
2018-07-27 1.060 2.680
2018-02-23 1.060 2.800
2017-12-01 1.060 2.741
2017-09-19 0.970 2.280
2017-07-27 0.970 2.325
2017-02-27 0.970 2.573
2016-09-20 0.880 2.649
2016-07-26 0.880 2.682
2016-02-25 0.880 2.652
2015-12-11 0.880 2.852
2015-09-15 0.800 2.863
2015-07-14 0.800 3.071
2015-02-26 0.800 2.971
2014-12-09 0.800 2.704
2014-09-16 0.740 2.695
2014-07-15 0.740 2.824
2014-02-27 0.740 2.675
2013-12-06 0.740 3.044
2013-09-17 0.660 2.852
2013-07-16 0.660 2.894
2013-03-01 0.660 2.891
2012-12-11 0.580 2.752
2012-09-19 0.580 2.738
2012-07-17 0.580 2.808
2012-02-29 0.580 3.111
2011-12-06 0.500 2.792
2011-09-27 0.500 2.812
2011-07-12 0.500 3.323
2011-02-17 0.500 3.279
2010-12-14 0.500 3.769
2010-09-21 0.500 4.164
2010-07-20 0.500 4.292
2010-02-16 0.500 4.025
2009-09-15 0.500 4.203
2009-07-20 0.500 4.123

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PNM Resources's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess PNM Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PNM Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PNM Resources has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PNM Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Pat Vincent-Collawn
COMPENSATION $5,031,193
AGE 60
TENURE AS CEO 10.1 years
CEO Bio

Ms. Patricia K. Vincent-Collawn, also known as Pat, has been the Chief Executive Officer of PNM Resources, Inc. since March 1, 2010 and has been its President since August 2008. Ms. Vincent-Collawn serves as the Chairman, Chief Executive Officer and President of Public Service Company of New Mexico. She served as Vice President of Northern States Power Co. (MN). She serves as the Chief Executive Officer and Chairman of Texas-New Mexico Power Company and served as its President. She served as Vice President of Southwestern Public Service Company (SPS) since August 2001. Ms. Vincent-Collawn served as Chief Executive Officer and President of Public Service Co. of New Mexico. She served as President of Utilities of Public Service Co. of New Mexico (2007-2008). She served as Chief Operating Officer of PNM Resources, Inc. at Public Service Co. of New Mexico from August 2008 to February 2010. She served as Unit President of Xcel Energy Inc. since March 2001. Ms. Vincent-Collawn was responsible for utility operations for PNM and TNMP, where she was responsible for its Regulatory, Marketing, Customer Service and Communications functions and Governmental and Federal Affairs. She has more than 18 years of utility experience. She served as Vice President of Northern States Power Company-Wisconsin (WI) (NSP-W) since December 2000. Ms. Vincent-Collawn served as an Executive Officer of Utility Operations of PNM Resources, Inc., since June 25, 2007 and served as its President of Utilities from June 25, 2007 to August 2008. Ms. Vincent-Collawn joined PNM Resources, Inc. in June 2007. Ms. Vincent-Collawn served as Chief Executive Officer and President of Public Service Company of Colorado, a subsidiary of Xcel Energy from October 2005 to June 5, 2007. She served as President of Energy Customer and Field Operations of Xcel Energy Inc., Parent Company of Southwestern Public Service Co., from July 2003 to October 2005 and also served as its Vice President since August 2001. She served as President and Chief Executive Officer of Public Service Co. of Colorado until June 5, 2007. She served as President of Customer and Field Operations of Xcel Energy Inc. since July 2003 and also served as President of Retail Services from March 2001 to July 2003. Ms. Vincent-Collawn served as President of Retail of Xcel Energy Inc. from March 2001 to July 2003. She served as Xcel Energy Inc.’s Vice President of Marketing and Sales from August 2000 to March 2001. She served as Vice President of Marketing & Sales of New Century Energies Inc. from January 1999 to August 2000. She served as Manager, Director and Vice President of Marketing and Sales at Arizona Public Service Company from 1992 to January 1999. She served as Brand Manager, Assistant Brand Manager and Marketing Assistant of Quaker Oats Company. Ms. Vincent-Collawn served as Manager, Strategic Consulting Group of Price Waterhouse. She served as Chairman and Executive Member of Denver Metro Chamber of Commerce. Ms. Vincent-Collawn has been the Chairman of PNM Resources Inc. since January 1, 2012. She served as Co-Chairman of Downtown Denver Partnership Economic Development Council. She has been the Vice Chairman at Electric Power Research Institute, Inc. since April 2015. Ms. Vincent-Collawn has been a Director of PNM Resources Inc. since March 1, 2010. She has been a Director at CTS Corporation since January 2003 and Electric Power Research Institute, Inc. since 2011. She served as Member of Economic Advisory Council at Federal Reserve Bank Of Kansas City April 2014. She has been a Director of Nuclear Electric Insurance Limited since January 11, 2017. She serves as a Director of Texas-New Mexico Power Company., Optim Energy, Public Service Company of New Mexico, Energy Co. and Public Service Co. of New Mexico. She serves as a Member of Advisory Board at Utilipoint International, Inc. She served as a Director of Northern States Power Company-Wisconsin, Northern States Power Co. (MN). Ms. Collawn was appointed to serve as the first female Chairman of the Board of Directors of the Edison Electric Institute (“EEI”) a national association of Investor-owned electric companies, having previously served as the organization’s Vice Chairman since 2015. She served as a Director of Southwestern Public Service Co. She serves on the Economic Development Council and Management Group Member of Downtown Denver Partnership Economic Development Council and also at Greater Albuquerque Chamber of Commerce. She served as a Director of Public Service Co. of Colorado until June 05, 2007. She served as Director of Rocky Mountain Junior Achievement. Ms. Vincent-Collawn holds a Bachelors of Arts Degree in Journalism and Public Relations from Drake University and her Master’s degree in Business Administration and International Business from the Harvard University Graduate School of Business.

CEO Compensation
  • Pat's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Pat's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the PNM Resources management team in years:

0.3
Average Tenure
61
Average Age
  • The average tenure for the PNM Resources management team is less than 2 years, this suggests a new team.
Management Team

Pat Vincent-Collawn

TITLE
Chairman
COMPENSATION
$5M
AGE
60
TENURE
10.1 yrs

Patrick Apodaca

TITLE
Senior VP
COMPENSATION
$976K
AGE
67
TENURE
10.3 yrs

Chuck Eldred

TITLE
Executive Vice President of Corporate Development & Finance
COMPENSATION
$3M
AGE
65
TENURE
0.3 yrs

Ron Darnell

TITLE
Senior Vice President of Public Policy
COMPENSATION
$853K
AGE
61
TENURE
8.3 yrs

Chris Olson

TITLE
Senior Vice President of Utility Operations
COMPENSATION
$840K
AGE
61
TENURE
2.2 yrs

Don Tarry

TITLE
CFO & Senior VP
COMPENSATION
$690K
AGE
49
TENURE
0.3 yrs

Lisa Eden

TITLE
Chief Information Officer & VP
AGE
52
TENURE
0.3 yrs

Lisa Goodman

TITLE
Director of Investor Relations

Becky Teague

TITLE
Vice President of Human Resources
TENURE
0.3 yrs

Mike Mertz

TITLE
VP & Treasurer
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the PNM Resources board of directors in years:

5.4
Average Tenure
65
Average Age
  • The tenure for the PNM Resources board of directors is about average.
Board of Directors

Pat Vincent-Collawn

TITLE
Chairman
COMPENSATION
$5M
AGE
60
TENURE
8.3 yrs

Al Fohrer

TITLE
Independent Director
COMPENSATION
$202K
AGE
68
TENURE
8.1 yrs

E. Conley

TITLE
Independent Director
COMPENSATION
$194K
AGE
61
TENURE
5.9 yrs

Norm Becker

TITLE
Independent Director
COMPENSATION
$194K
AGE
63
TENURE
3.9 yrs

Vicky Bailey

TITLE
Independent Director
COMPENSATION
$185K
AGE
67
TENURE
1.3 yrs

Bruce Wilkinson

TITLE
Lead Independent Director
COMPENSATION
$212K
AGE
74
TENURE
4.9 yrs

Donald Schwanz

TITLE
Independent Director
COMPENSATION
$194K
AGE
74
TENURE
11.8 yrs

Maureen Mullarkey

TITLE
Independent Director
COMPENSATION
$190K
AGE
59
TENURE
5.9 yrs

Sidney Gutierrez

TITLE
Independent Director
COMPENSATION
$187K
AGE
67
TENURE
4.9 yrs

James Hughes

TITLE
Independent Director
COMPENSATION
$185K
AGE
56
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
10. Jan 20 Sell GAMCO Investors, Inc. Company 11. Nov 19 09. Jan 20 -351,416 €46.32 €-14,791,450
10. Jan 20 Buy GAMCO Investors, Inc. Company 11. Nov 19 07. Jan 20 11,398 €46.00 €469,545
17. May 19 Sell GAMCO Investors, Inc. Company 22. Mar 19 16. May 19 -135,315 €42.94 €-1,288,597
17. May 19 Buy GAMCO Investors, Inc. Company 20. Mar 19 14. May 19 1,196 €43.03 €0
X
Management checks
We assess PNM Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PNM Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

PNM Resources, Inc., through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity. It generates electricity using coal, natural gas and oil, nuclear fuel, solar, wind, and geothermal energy sources. As of December 31, 2018, this segment had owned or leased facilities with a total net generation capacity of 2,102 megawatts; and owned 3,206 miles of electric transmission lines, 6,067 miles of distribution overhead lines, 5,885 miles of underground distribution lines, and 255 substations. It also owns and leases office and other equipment, office space, vehicles, and real estate. The TNMP segment provides regulated transmission and distribution services. As of December 31, 2018, this segment owned 997 miles of overhead electric transmission lines, 7,151 miles of overhead distribution lines, 1,260 miles of underground distribution lines, and 122 substations. It also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves approximately 782,000 residential, commercial, and industrial customers, as well as end-users of electricity in New Mexico and Texas. PNM Resources, Inc. was founded in 1917 and is headquartered in Albuquerque, New Mexico.

Details
Name: PNM Resources, Inc.
98P
Exchange: DB
Founded: 1917
$3,068,868,699
79,653,624
Website: http://www.pnmresources.com
Address: PNM Resources, Inc.
414 Silver Avenue SW,
Albuquerque,
New Mexico, 87102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PNM Common Stock New York Stock Exchange US USD 02. Jan 1969
DB 98P Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
Number of employees
Current staff
Staff numbers
1,668
PNM Resources employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:23
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2020/03/02
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.