Atmos Energy Corporation

AI-generated fair value estimate for this company.

Method: Multi-stage dividend discount model: $4.00 current indicated annual dividend; 7% dividend/EPS growth years 1-5 (midpoint of management's 6-8% guidance through FY2030); 5.5% years 6-10; 8.82% cost of equity (CAPM, 5.08% 10Y UST + 0.68 beta x 5.5% ERP); 4.0% terminal growth.

Reasoning: Atmos Energy is a regulated gas utility with structurally negative free cash flow from its rate-base capex program, so a dividend discount model tied to management's own explicit EPS/dividend growth guidance is more reliable than an unlevered FCF DCF; the elevated 10-year Treasury yield raises the cost of equity used here.