U.S. regulated gas utility
Atmos Energy Corporation
Atmos Energy earns regulated revenue by distributing natural gas across eight southern U.S. states and by providing pipeline transportation and storage services in Texas. It buys gas from producers and marketers and commits substantial capital to the safety and capacity of its distribution, pipeline, and storage systems.
Business categories Regulated Utilities & Grid Operators · Power & Grid · primary
ATO Updated Sep 24, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Atmos Energy Corporation is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 4 companies within two hops; the links are backed by 9 dated sources, 5 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · $4,702,755,000 (FY2025)
- Segments · Distribution · Pipeline and storage
Revenue from
- CoServ Gas High confidence· contract capacity 267,656 MMBtu MDQ · 2024-04-01/2025-03-31 review period · CoServ monthly contract maximum daily quantity (MDQ)
CoServ Gas is an external local distribution company receiving transportation and storage service from Atmos Pipeline-Texas. It had the largest disclosed contract MDQ among named external LDC customers in the 2025 regulatory filing.Confirms EN Atmos Energy and Railroad Commission of Texas Published Jun 13, 2025: Atmos Pipeline-Texas 2025 Rider SSI Compliance Filing - SiEnergy High confidence· contract capacity 26,942 MMBtu MDQ · 2024-04-01/2025-03-31 review period · SiEnergy monthly contract maximum daily quantity (MDQ)
SiEnergy is an external local distribution company receiving transportation and storage service from Atmos Pipeline-Texas. The same 2025 filing shows the second-largest contract MDQ among the named external LDC customers.Confirms EN Atmos Energy and Railroad Commission of Texas Published Jun 13, 2025: Atmos Pipeline-Texas 2025 Rider SSI Compliance Filing
Pays to
- ConocoPhillips High confidence
ConocoPhillips is one of the major natural gas suppliers that Atmos Energy directly identified in its FY2025 Form 10-K. Supplier-specific purchases were not disclosed.Confirms EN U.S. Securities and Exchange Commission EDGAR Published Nov 14, 2025: Atmos Energy Corporation FY2025 Form 10-KMentions EN Balfour Capital Group Research Department Published Jun 9, 2025: Atmos Energy Corporation Research - Williams Companies High confidence
Williams-owned Sequent Energy Management is one of the major natural gas suppliers that Atmos Energy directly identified in its FY2025 Form 10-K. Supplier-specific purchases were not disclosed.Confirms EN U.S. Securities and Exchange Commission EDGAR Published Nov 14, 2025: Atmos Energy Corporation FY2025 Form 10-KMentions EN Balfour Capital Group Research Department Published Jun 9, 2025: Atmos Energy Corporation ResearchConfirms EN Williams Published Jul 1, 2021: Williams Completes Acquisition of Sequent Energy Management
Investments
- Energy Transfer Fuel, LP High confidence· Amount $43M · 2005 North Side Loop construction agreement · Atmos's maximum pipeline construction cost contribution under the North Side Loop joint agreement with Energy Transfer Fuel
Atmos Pipeline-Texas entered into an agreement with Energy Transfer Fuel to jointly build and operate the 45-mile North Side Loop pipeline in North Texas, with each party owning a 50% interest. Atmos committed up to $42.5 million toward pipeline construction costs and 50% of the compression-facility costs.Mentions KO Toss Securities Research Center Published Mar 27, 2025: Three Themes: Finding Hidden Opportunities (2) EnergyConfirms EN Atmos Energy and Railroad Commission of Texas Published Feb 26, 2025: Atmos Pipeline-Texas 2025 GRIP Interim Rate Adjustment ApplicationConfirms EN U.S. Securities and Exchange Commission EDGAR Published Dec 6, 2005: Atmos Energy Form 8-K: Pipeline Construction Agreement with Energy Transfer FuelConfirms EN U.S. Securities and Exchange Commission EDGAR Published Dec 6, 2005: Pipeline Construction and Operating Agreement Between Atmos Pipeline-Texas and Energy Transfer Fuel
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Atmos Energy Corporation | node | +12.7 | +9.6 | +6.2 | +23.4 | +23.1 | -1.9 |
| ConocoPhillips | benef1 | +86.6 | +71.7 | +2 | -12.2 | -2.3 | +46.4 |
| Williams Companies | benef1 | +38.4 | +32.8 | +11.9 | +62.3 | +14.9 | +25.2 |
| Halliburton Company | benef2 | +22 | +74.5 | -6.5 | -23.2 | +7 | +16.8 |
| Sempra | benef2 | +7.4 | +20.3 | -0.1 | +21.1 | +3.9 | -3.5 |
YTD as of 2026-10-09 · source: Yahoo Finance
Atmos Energy Corporation operates across U.S. regulated gas utility. It stayed steadily positive in recent years and is +1.7% in 2026. The supply side (avg +35.9%) leads the stock (+1.7%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is ConocoPhillips (+46.6%) and the furthest behind is Williams Companies (+25.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It buys gas from producers and marketers and commits substantial capital to the safety and capacity of its distribution, pipeline, and storage systems.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple