ATO vs. CEG: Atmos Energy vs. Constellation Energy Stock Comparison
How do Atmos Energy (ATO) and Constellation Energy (CEG) 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
Atmos Energy (ATO) and Constellation Energy (CEG) both fall under the Utilities industry group, but ATO is classified in Gas Utilities while CEG is classified in Electric Utilities.
Atmos Energy (ATO) has more than two decades of public-market history since December 28, 1983, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.
| Profile Item | ATO | CEG |
|---|---|---|
| Name | Atmos Energy Corporation | Constellation Energy Corporation |
| Country/Region | United States | United States |
| GICS Sector | Utilities | Utilities |
| GICS Industry Group | Utilities | Utilities |
| GICS Industry | Gas Utilities | Electric Utilities |
| GICS Sub-Industry | Gas Utilities | Electric Utilities |
| Market Capitalization | 29.27 billion USD | 88.56 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | Nasdaq |
| Listing Date | December 28, 1983 | January 19, 2022 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | ATO | CEG |
|---|---|---|
| Total Return (1Y) | 0.43% | -23.27% |
| Total Return (3Y, Annualized) | 18.83% | 32.21% |
| Total Return (5Y, Annualized) | 16.10% | -- |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | ATO | CEG |
|---|---|---|
| Volatility (1Y, Annualized) | 16.06% | 49.44% |
| Beta (5Y) | 0.55 | 1.11 |
| Max Drawdown (5Y) | -19.08% | -50.70% |
| Avg. Volume (3M) | 1.03M | 3.37M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | ATO | CEG |
|---|---|---|
| Sharpe Ratio (1Y) | -0.24 | -0.56 |
| Sortino Ratio (1Y) | -0.34 | -0.78 |
Profitability
ROE (TTM)
Constellation Energy (CEG) at 15.06% sits in the top ROE quartile, while Atmos Energy (ATO) at 9.79% is closer to the peer norm — stronger capital efficiency for CEG.
ATO
Utilities industry group
9.79%
- Max
- 17.99%
- Q3
- 12.01%
- ATO
- 9.79%
- Median
- 9.44%
- Q1
- 7.56%
- Min
- 2.17%
CEG
Utilities industry group
15.06%
- Max
- 17.99%
- CEG
- 15.06%
- Q3
- 12.01%
- Median
- 9.44%
- Q1
- 7.56%
- Min
- 2.17%
Net Margin (TTM)
Atmos Energy (ATO) at 28.50% retains a top-quartile share of revenue as profit, ahead of Constellation Energy (CEG) at 11.08%, which keeps about the industry-typical share.
ATO
Utilities industry group
28.50%
- Max
- 28.78%
- ATO
- 28.50%
- Q3
- 17.30%
- Median
- 12.73%
- Q1
- 9.18%
- Min
- -0.20%
CEG
Utilities industry group
11.08%
- Max
- 28.78%
- Q3
- 17.30%
- Median
- 12.73%
- CEG
- 11.08%
- Q1
- 9.18%
- Min
- -0.20%
Operating Margin (TTM)
Atmos Energy (ATO) at 37.22% carries a top-quartile operating margin, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.
ATO
Utilities industry group
37.22%
- Max
- 53.83%
- ATO
- 37.22%
- Q3
- 31.12%
- Median
- 23.62%
- Q1
- 15.45%
- Min
- -4.90%
CEG
Utilities industry group
8.66%
- Max
- 53.83%
- Q3
- 31.12%
- Median
- 23.62%
- Q1
- 15.45%
- CEG
- 8.66%
- Min
- -4.90%
Profitability Metrics
| Metric | ATO | CEG |
|---|---|---|
| ROE (TTM) | 9.79% | 15.06% |
| ROA (TTM) | 3.89% | 3.89% |
| Net Margin (TTM) | 28.50% | 11.08% |
| Operating Margin (TTM) | 37.22% | 8.66% |
| Gross Margin (TTM) | 62.21% | 22.11% |
Growth
Revenue Growth
Both Atmos Energy (ATO) at 12.91% and Constellation Energy (CEG) at 8.34% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Atmos Energy (ATO) at 9.22% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.
Growth Metrics
| Metric | ATO | CEG |
|---|---|---|
| Revenue Growth (YoY) | 12.91% | 8.34% |
| Revenue Growth (3Y CAGR) | 3.83% | 1.47% |
| EPS Growth (YoY) | 9.22% | -37.76% |
| EPS Growth (3Y CAGR) | 10.03% | -- |
Financial Strength
Current Ratio (MRQ)
Atmos Energy (ATO) at 0.81 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.
ATO
Utilities industry group
0.81
- Max
- 1.90
- Q3
- 1.17
- Median
- 0.88
- ATO
- 0.81
- Q1
- 0.66
- Min
- 0.29
CEG
Utilities industry group
1.46
- Max
- 1.90
- CEG
- 1.46
- Q3
- 1.17
- Median
- 0.88
- Q1
- 0.66
- Min
- 0.29
Debt / Equity (MRQ)
Both Atmos Energy (ATO) at 0.68 and Constellation Energy (CEG) at 0.76 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.
ATO
Utilities industry group
0.68
- Max
- 2.63
- Q3
- 1.77
- Median
- 1.35
- Q1
- 0.84
- ATO
- 0.68
- Min
- 0.00
CEG
Utilities industry group
0.76
- Max
- 2.63
- Q3
- 1.77
- Median
- 1.35
- Q1
- 0.84
- CEG
- 0.76
- Min
- 0.00
Financial Strength Metrics
| Metric | ATO | CEG |
|---|---|---|
| Current Ratio (MRQ) | 0.81 | 1.46 |
| Debt / Equity (MRQ) | 0.68 | 0.76 |
| Net Debt / EBITDA | 3.74 | 3.02 |
Dividends
Dividend Yield (TTM)
Both Atmos Energy (ATO) at 2.21% and Constellation Energy (CEG) at 0.68% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
ATO
Utilities industry group
2.21%
- Max
- 6.66%
- Q3
- 3.58%
- Median
- 2.85%
- ATO
- 2.21%
- Q1
- 0.66%
- Min
- 0.00%
CEG
Utilities industry group
0.68%
- Max
- 6.66%
- Q3
- 3.58%
- Median
- 2.85%
- CEG
- 0.68%
- Q1
- 0.66%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Atmos Energy (ATO) at 46.13% keeps its payout within the industry’s typical band; Constellation Energy (CEG) at 15.92% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.
ATO
Utilities industry group
46.13%
- Max
- 113.04%
- Q3
- 68.72%
- Median
- 56.38%
- ATO
- 46.13%
- Q1
- 32.38%
- Min
- 0.00%
CEG
Utilities industry group
15.92%
- Max
- 113.04%
- Q3
- 68.72%
- Median
- 56.38%
- Q1
- 32.38%
- CEG
- 15.92%
- Min
- 0.00%
Dividend Metrics
| Metric | ATO | CEG |
|---|---|---|
| Dividend Yield (TTM) | 2.21% | 0.68% |
| Dividend Payout Ratio (TTM) | 46.13% | 15.92% |
Valuation
P/E Ratio (TTM)
Atmos Energy (ATO) at 20.65 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.
ATO
Utilities industry group
20.65
- Max
- 31.22
- Q3
- 23.30
- ATO
- 20.65
- Median
- 19.64
- Q1
- 15.17
- Min
- 3.34
CEG
Utilities industry group
24.43
- Max
- 31.22
- CEG
- 24.43
- Q3
- 23.30
- Median
- 19.64
- Q1
- 15.17
- Min
- 3.34
P/S Ratio (TTM)
Constellation Energy (CEG) at 2.83 is priced about in line with its industry on P/S ratio, while Atmos Energy (ATO) at 5.95 sits in the pricier quartile — ATO costs more per dollar of sales.
ATO
Utilities industry group
5.95
- Max
- 6.35
- ATO
- 5.95
- Q3
- 3.63
- Median
- 2.63
- Q1
- 1.52
- Min
- 0.00
CEG
Utilities industry group
2.83
- Max
- 6.35
- Q3
- 3.63
- CEG
- 2.83
- Median
- 2.63
- Q1
- 1.52
- Min
- 0.00
P/B Ratio (MRQ)
Atmos Energy (ATO) at 1.92 is valued about in line with its industry on P/B ratio, while Constellation Energy (CEG) at 2.78 carries an above-peer premium to book — CEG is pricier on assets.
ATO
Utilities industry group
1.92
- Max
- 3.12
- Q3
- 2.21
- ATO
- 1.92
- Median
- 1.83
- Q1
- 1.46
- Min
- 0.34
CEG
Utilities industry group
2.78
- Max
- 3.12
- CEG
- 2.78
- Q3
- 2.21
- Median
- 1.83
- Q1
- 1.46
- Min
- 0.34
Valuation Metrics
| Metric | ATO | CEG |
|---|---|---|
| P/E Ratio (TTM) | 20.65 | 24.43 |
| P/S Ratio (TTM) | 5.95 | 2.83 |
| P/B Ratio (MRQ) | 1.92 | 2.78 |
| Free Cash Flow Yield (TTM) | -7.59% | -7.48% |