ATO vs. EMA: Atmos Energy vs. Emera Stock Comparison

November 11, 2026

How do Atmos Energy (ATO) and Emera (EMA) 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 Emera (EMA) both fall under the Utilities industry group, but ATO is classified in Gas Utilities while EMA is classified in Electric Utilities.

Company profile comparison for Atmos Energy (ATO) and Emera (EMA)
Profile Item	ATO	EMA
Name	Atmos Energy Corporation	Emera Inc.
Country/Region	United States	Canada
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	15.62 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 28, 1983	January 5, 2010
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ATO

EMA

GSPC

Atmos Energy (ATO) vs. Emera (EMA), 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 Atmos Energy (ATO) and Emera (EMA). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Total Return (1Y)	0.43%	9.07%
Total Return (3Y, Annualized)	18.83%	18.64%
Total Return (5Y, Annualized)	16.10%	6.45%

Risk Profile

Drawdown History

ATO

EMA

GSPC

Atmos Energy (ATO) vs. Emera (EMA), 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 Atmos Energy (ATO) and Emera (EMA). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Volatility (1Y, Annualized)	16.06%	16.26%
Beta (5Y)	0.55	0.40
Max Drawdown (5Y)	-19.08%	-32.61%
Avg. Volume (3M)	1.03M	713.97K

Risk-Adjusted Performance

Risk-Return Positioning

ATO and EMA 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 Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Sharpe Ratio (1Y)	-0.24	0.29
Sortino Ratio (1Y)	-0.34	0.43

Profitability

ROE (TTM)

Both Atmos Energy (ATO) at 9.79% and Emera (EMA) at 7.56% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ATO

Utilities industry group

9.79%

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

EMA

Utilities industry group

7.56%

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

Atmos Energy (ATO) vs. Emera (EMA): 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 Emera (EMA) at 11.64%, 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%

EMA

Utilities industry group

11.64%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
EMA: 11.64%
Q1: 9.18%
Min: -0.20%

Atmos Energy (ATO) vs. Emera (EMA): 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 Emera (EMA) at 17.85%, which runs around its industry’s norm.

ATO

Utilities industry group

37.22%

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

EMA

Utilities industry group

17.85%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
EMA: 17.85%
Q1: 15.45%
Min: -4.90%

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

Profitability Metrics

Profitability metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
ROE (TTM)	9.79%	7.56%
ROA (TTM)	3.89%	2.91%
Net Margin (TTM)	28.50%	11.64%
Operating Margin (TTM)	37.22%	17.85%
Gross Margin (TTM)	62.21%	43.76%

Growth

Revenue Growth

Emera (EMA) at 21.89% sits in the top revenue growth quartile, while Atmos Energy (ATO) at 12.91% is closer to the peer norm — faster top-line expansion for EMA.

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

EPS Growth

Emera (EMA) at 97.66% clears its industry range for EPS growth, a much stronger earnings trajectory than Atmos Energy (ATO) at 9.22%, which is closer to a typical peer reading.

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

Growth Metrics

Growth metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Revenue Growth (YoY)	12.91%	21.89%
Revenue Growth (3Y CAGR)	3.83%	4.97%
EPS Growth (YoY)	9.22%	97.66%
EPS Growth (3Y CAGR)	10.03%	-1.62%

Financial Strength

Current Ratio (MRQ)

Both Atmos Energy (ATO) at 0.81 and Emera (EMA) at 0.73 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity 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

EMA

Utilities industry group

0.73

Max: 1.90
Q3: 1.17
Median: 0.88
EMA: 0.73
Q1: 0.66
Min: 0.29

Atmos Energy (ATO) vs. Emera (EMA): 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 industry quartile, while Emera (EMA) at 1.54 runs a more typical debt-to-equity mix.

ATO

Utilities industry group

0.68

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

EMA

Utilities industry group

1.54

Max: 2.63
Q3: 1.77
EMA: 1.54
Median: 1.35
Q1: 0.84
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Current Ratio (MRQ)	0.81	0.73
Debt / Equity (MRQ)	0.68	1.54
Net Debt / EBITDA	3.74	6.38

Dividends

Dividend Yield (TTM)

Emera (EMA) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Atmos Energy (ATO) reports a yield of 2.21%, ranking against industry peers normally.

ATO

Utilities industry group

2.21%

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

EMA

Utilities industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

Atmos Energy (ATO) at 46.13% pays out a band-typical share of earnings, while Emera (EMA) at 92.48% distributes more than its industry norm — less retained, thinner cover.

ATO

Utilities industry group

46.13%

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

EMA

Utilities industry group

92.48%

Max: 113.04%
EMA: 92.48%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
Dividend Yield (TTM)	2.21%	0.00%
Dividend Payout Ratio (TTM)	46.13%	92.48%

Valuation

P/E Ratio (TTM)

Atmos Energy (ATO) at 20.65 is near its industry’s usual P/E ratio, while Emera (EMA) at 23.58 sits in the richer quartile — EMA 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

EMA

Utilities industry group

23.58

Max: 31.22
EMA: 23.58
Q3: 23.30
Median: 19.64
Q1: 15.17
Min: 3.34

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

P/S Ratio (TTM)

Emera (EMA) at 1.75 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

EMA

Utilities industry group

1.75

Max: 6.35
Q3: 3.63
Median: 2.63
EMA: 1.75
Q1: 1.52
Min: 0.00

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

P/B Ratio (MRQ)

On P/B ratio, both Atmos Energy (ATO) at 1.92 and Emera (EMA) at 1.80 are valued close to their industries’ norm against book — neither stands out from peers.

ATO

Utilities industry group

1.92

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

EMA

Utilities industry group

1.80

Max: 3.12
Q3: 2.21
Median: 1.83
EMA: 1.80
Q1: 1.46
Min: 0.34

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

Valuation Metrics

Valuation metrics for Atmos Energy (ATO) and Emera (EMA)
Metric	ATO	EMA
P/E Ratio (TTM)	20.65	23.58
P/S Ratio (TTM)	5.95	1.75
P/B Ratio (MRQ)	1.92	1.80
Free Cash Flow Yield (TTM)	-7.59%	-9.18%