AES vs. ATO: AES vs. Atmos Energy Stock Comparison

November 11, 2026

How do AES (AES) and Atmos Energy (ATO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

AES (AES) and Atmos Energy (ATO) both fall under the Utilities industry group, but AES is classified in Independent Power and Renewable Electricity Producers while ATO is classified in Gas Utilities.

Company profile comparison for AES (AES) and Atmos Energy (ATO)
Profile Item	AES	ATO
Name	The AES Corporation	Atmos Energy Corporation
Country/Region	United States	United States
GICS Sector	Utilities	Utilities
GICS Industry Group	Utilities	Utilities
GICS Industry	Independent Power and Renewable Electricity Producers	Gas Utilities
GICS Sub-Industry	Independent Power Producers & Energy Traders	Gas Utilities
Market Capitalization	10.61 billion USD	29.27 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 26, 1991	December 28, 1983
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AES

ATO

GSPC

AES (AES) vs. Atmos Energy (ATO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for AES (AES) and Atmos Energy (ATO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for AES (AES) and Atmos Energy (ATO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Total Return (1Y)	10.79%	0.43%
Total Return (3Y, Annualized)	3.44%	18.83%
Total Return (5Y, Annualized)	-5.12%	16.10%

Risk Profile

Drawdown History

AES

ATO

GSPC

AES (AES) vs. Atmos Energy (ATO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for AES (AES) and Atmos Energy (ATO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Volatility (1Y, Annualized)	25.19%	16.06%
Beta (5Y)	0.93	0.55
Max Drawdown (5Y)	-63.43%	-19.08%
Avg. Volume (3M)	8.50M	1.03M

Risk-Adjusted Performance

Risk-Return Positioning

AES and ATO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Sharpe Ratio (1Y)	0.26	-0.24
Sortino Ratio (1Y)	0.33	-0.34

Profitability

ROE (TTM)

Both AES (AES) at 8.68% and Atmos Energy (ATO) at 9.79% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

AES

Utilities industry group

8.68%

Max: 17.99%
Q3: 12.01%
Median: 9.44%
AES: 8.68%
Q1: 7.56%
Min: 2.17%

ATO

Utilities industry group

9.79%

Max: 17.99%
Q3: 12.01%
ATO: 9.79%
Median: 9.44%
Q1: 7.56%
Min: 2.17%

AES (AES) vs. Atmos Energy (ATO): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Atmos Energy (ATO) at 28.50% retains a top-quartile share of revenue as profit, ahead of AES (AES) at 13.16%, which keeps about the industry-typical share.

AES

Utilities industry group

13.16%

Max: 28.78%
Q3: 17.30%
AES: 13.16%
Median: 12.73%
Q1: 9.18%
Min: -0.20%

ATO

Utilities industry group

28.50%

Max: 28.78%
ATO: 28.50%
Q3: 17.30%
Median: 12.73%
Q1: 9.18%
Min: -0.20%

AES (AES) vs. Atmos Energy (ATO): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Atmos Energy (ATO) at 37.22% operates in the top operating margin quartile, ahead of AES (AES) at 23.89%, which runs around its industry’s norm.

AES

Utilities industry group

23.89%

Max: 53.83%
Q3: 31.12%
AES: 23.89%
Median: 23.62%
Q1: 15.45%
Min: -4.90%

ATO

Utilities industry group

37.22%

Max: 53.83%
ATO: 37.22%
Q3: 31.12%
Median: 23.62%
Q1: 15.45%
Min: -4.90%

AES (AES) vs. Atmos Energy (ATO): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
ROE (TTM)	8.68%	9.79%
ROA (TTM)	3.13%	3.89%
Net Margin (TTM)	13.16%	28.50%
Operating Margin (TTM)	23.89%	37.22%
Gross Margin (TTM)	21.34%	62.21%

Growth

Revenue Growth

Atmos Energy (ATO) at 12.91% is around its peer norm for revenue growth, while AES (AES) at -0.37% drops into the bottom quartile, signaling weaker demand or pricing momentum.

AES (AES) vs. Atmos Energy (ATO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Atmos Energy (ATO) at 9.22% is around its peer norm for EPS growth, while AES (AES) at -46.61% drops into the bottom quartile, signaling weaker earnings momentum.

AES (AES) vs. Atmos Energy (ATO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Revenue Growth (YoY)	-0.37%	12.91%
Revenue Growth (3Y CAGR)	-1.03%	3.83%
EPS Growth (YoY)	-46.61%	9.22%
EPS Growth (3Y CAGR)	--	10.03%

Financial Strength

Current Ratio (MRQ)

Both AES (AES) at 0.86 and Atmos Energy (ATO) at 0.81 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

AES

Utilities industry group

0.86

Max: 1.90
Q3: 1.17
Median: 0.88
AES: 0.86
Q1: 0.66
Min: 0.29

ATO

Utilities industry group

0.81

Max: 1.90
Q3: 1.17
Median: 0.88
ATO: 0.81
Q1: 0.66
Min: 0.29

AES (AES) vs. Atmos Energy (ATO): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Atmos Energy (ATO) at 0.68 keeps leverage in the lower quartile, while AES (AES) at 2.43 sits in the higher-leverage quartile.

AES

Utilities industry group

2.43

Max: 2.63
AES: 2.43
Q3: 1.77
Median: 1.35
Q1: 0.84
Min: 0.00

ATO

Utilities industry group

0.68

Max: 2.63
Q3: 1.77
Median: 1.35
Q1: 0.84
ATO: 0.68
Min: 0.00

AES (AES) vs. Atmos Energy (ATO): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Current Ratio (MRQ)	0.86	0.81
Debt / Equity (MRQ)	2.43	0.68
Net Debt / EBITDA	7.28	3.74

Dividends

Dividend Yield (TTM)

AES (AES) at 4.73% delivers top-quartile income for its industry, while Atmos Energy (ATO) at 2.21% pays a more typical yield — both are credible income propositions, AES the richer one.

AES

Utilities industry group

4.73%

Max: 6.66%
AES: 4.73%
Q3: 3.58%
Median: 2.85%
Q1: 0.66%
Min: 0.00%

ATO

Utilities industry group

2.21%

Max: 6.66%
Q3: 3.58%
Median: 2.85%
ATO: 2.21%
Q1: 0.66%
Min: 0.00%

AES (AES) vs. Atmos Energy (ATO): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Atmos Energy (ATO) at 46.13% keeps its payout within the industry’s typical band; AES (AES) at 28.27% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.

AES

Utilities industry group

28.27%

Max: 113.04%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
AES: 28.27%
Min: 0.00%

ATO

Utilities industry group

46.13%

Max: 113.04%
Q3: 68.72%
Median: 56.38%
ATO: 46.13%
Q1: 32.38%
Min: 0.00%

AES (AES) vs. Atmos Energy (ATO): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
Dividend Yield (TTM)	4.73%	2.21%
Dividend Payout Ratio (TTM)	28.27%	46.13%

Valuation

P/E Ratio (TTM)

AES (AES) at 5.97 sits in the cheaper P/E ratio quartile, while Atmos Energy (ATO) at 20.65 is closer to its industry’s usual earnings multiple — a discount for AES, though growth and earnings durability still matter.

AES

Utilities industry group

5.97

Max: 31.22
Q3: 23.30
Median: 19.64
Q1: 15.17
AES: 5.97
Min: 3.34

ATO

Utilities industry group

20.65

Max: 31.22
Q3: 23.30
ATO: 20.65
Median: 19.64
Q1: 15.17
Min: 3.34

AES (AES) vs. Atmos Energy (ATO): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

AES (AES) at 0.78 looks cheap on sales in the lower P/S ratio quartile, while Atmos Energy (ATO) at 5.95 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

AES

Utilities industry group

0.78

Max: 6.35
Q3: 3.63
Median: 2.63
Q1: 1.52
AES: 0.78
Min: 0.00

ATO

Utilities industry group

5.95

Max: 6.35
ATO: 5.95
Q3: 3.63
Median: 2.63
Q1: 1.52
Min: 0.00

AES (AES) vs. Atmos Energy (ATO): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both AES (AES) at 1.86 and Atmos Energy (ATO) at 1.92 are valued close to their industries’ norm against book — neither stands out from peers.

AES

Utilities industry group

1.86

Max: 3.12
Q3: 2.21
AES: 1.86
Median: 1.83
Q1: 1.46
Min: 0.34

ATO

Utilities industry group

1.92

Max: 3.12
Q3: 2.21
ATO: 1.92
Median: 1.83
Q1: 1.46
Min: 0.34

AES (AES) vs. Atmos Energy (ATO): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for AES (AES) and Atmos Energy (ATO)
Metric	AES	ATO
P/E Ratio (TTM)	5.97	20.65
P/S Ratio (TTM)	0.78	5.95
P/B Ratio (MRQ)	1.86	1.92
Free Cash Flow Yield (TTM)	-30.54%	-7.59%