TXNM vs SPY

Comparison between PNM Resources Inc (TXNM, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed TXNM, delivering a return of +13.9% compared to +7.4%

TXNM vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TXNM(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$6.57B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	81.76%	56.47%
Sharpe Ratio	1.29	1.76
5Y Beta	0.28	1.00
Industry	Utilities - Regulated Electric	N/A
P/E Ratio	38.99	28.46
Forward P/E	20.49	21.99
PEG Ratio	2.93	N/A
Dividend Yield	2.80%	N/A
5Y Dividends CAGR	5.84%	5.43%
5Y EPS CAGR	18.51%	25.20%
Debt to Equity	156.28%	33.33%
Free Cash Flow Yield	9.08%	N/A
P/S Ratio	3.00	3.65
P/B Ratio	1.89	5.50

Market Cap / Net Assets

TXNM

$6.57B

Winner

SPY

$735B

Expense Ratio

TXNM

N/A

SPY

0.09%

Max Drawdown

TXNM

81.76%

Winner

SPY

56.47%

Sharpe Ratio

TXNM

1.29

Winner

SPY

1.76

5Y Beta

Winner

TXNM

0.28

SPY

1.00

Industry

TXNM

Utilities - Regulated Electric

SPY

N/A

P/E Ratio

TXNM

38.99

Winner

SPY

28.46

Forward P/E

Winner

TXNM

20.49

SPY

21.99

PEG Ratio

TXNM

2.93

SPY

N/A

Dividend Yield

TXNM

2.80%

SPY

N/A

5Y Dividends CAGR

Winner

TXNM

5.84%

SPY

5.43%

5Y EPS CAGR

TXNM

18.51%

Winner

SPY

25.20%

Debt to Equity

TXNM

156.28%

Winner

SPY

33.33%

Free Cash Flow Yield

TXNM

9.08%

SPY

N/A

P/S Ratio

Winner

TXNM

3.00

SPY

3.65

P/B Ratio

Winner

TXNM

1.89

SPY

5.50

TXNM vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	TXNM	SPY
1 month	+1.50%	+4.01%
3 months	+1.02%	+7.93%
6 months	+4.41%	+12.54%
1 year	+8.10%	+25.60%
5 years(CAGR)	+7.36%	+13.94%
10 years(CAGR)	+9.70%	+15.56%
Max(CAGR)	+9.83%	+8.49%

TXNM

+1.50%

Winner

SPY

+4.01%

TXNM

+1.02%

Winner

SPY

+7.93%

TXNM

+4.41%

Winner

SPY

+12.54%

TXNM

+8.10%

Winner

SPY

+25.60%

5Y(CAGR)

TXNM

+7.36%

Winner

SPY

+13.94%

10Y(CAGR)

TXNM

+9.70%

Winner

SPY

+15.56%

Max(CAGR)

Winner

TXNM

+9.83%

SPY

+8.49%

TXNM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	TXNM	SPY
2026	+2.09%	+8.42%
2025	+24.27%	+18.00%
2024	+30.79%	+25.59%
2023	-12.36%	+26.72%
2022	+10.63%	-18.64%
2021	-3.30%	+30.52%
2020	+0.29%	+17.28%
2019	+29.16%	+31.09%
2018	+5.73%	-5.24%
2017	+22.03%	+20.78%
2016	+16.88%	+13.59%
2015	+5.93%	+1.31%
2014	+28.48%	+14.56%
2013	+17.64%	+29.00%
2012	+19.98%	+14.17%
2011	+42.36%	+0.85%
2010	+6.80%	+13.14%
2009	+26.38%	+22.67%
2008	-49.82%	-36.25%
2007	-28.96%	+5.32%
2006	+28.66%	+13.85%
2005	+1.11%	+5.32%
2004	+37.21%	+10.75%
2003	+24.12%	+24.18%
2002	-14.30%	-22.42%
2001	+11.11%	-10.13%
2000	+78.91%	-8.84%
1999	-7.83%	+8.61%

TXNM vs SPY Drawdown Comparison

The maximum drawdown for TXNM was -80.02%, occurring on Mar 6, 2009. Recovery took 1724 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current SPY drawdown is -1.27%.

Rank	TXNM	SPY
#1	-80.02% Apr 25, 2007 - Feb 28, 2014	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-51.04% May 10, 2001 - Sep 16, 2004	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-46.35% Feb 18, 2020 - Nov 21, 2024	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-25.17% Nov 30, 2017 - Dec 11, 2018	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-22.79% Aug 3, 2005 - Nov 6, 2006	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-20.57% Dec 29, 2014 - Dec 23, 2015	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-17.98% Jul 1, 2014 - Nov 5, 2014	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-16.85% Nov 8, 2000 - Mar 30, 2001	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-14.91% Nov 1, 1999 - Apr 26, 2000	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-14.22% Apr 28, 2000 - Jul 20, 2000	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-13.00% Jul 6, 2016 - Feb 21, 2017	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-10.60% Dec 13, 2018 - Feb 22, 2019	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-10.22% Feb 21, 2025 - Mar 14, 2025	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-10.07% Mar 19, 2025 - May 19, 2025	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-9.86% Oct 4, 2019 - Jan 23, 2020	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between TXNM and SPY is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (1999 - 2026)

TXNM vs SPY dividend yield comparison.

Year	TXNM	SPY
2026	1.42%	0.24%
2025	2.77%	1.07%
2024	3.15%	1.21%
2023	3.53%	1.40%
2022	2.85%	1.65%
2021	2.87%	1.20%
2020	2.53%	1.52%
2019	2.29%	1.75%
2018	2.58%	2.04%
2017	2.40%	1.80%
2016	2.57%	2.03%
2015	2.62%	2.06%
2014	2.50%	1.87%
2013	2.65%	1.81%
2012	3.44%	2.18%
2011	2.74%	2.05%
2010	3.84%	1.80%
2009	3.95%	1.95%
2008	7.04%	3.02%
2007	4.24%	1.85%
2006	2.77%	1.73%
2005	3.14%	1.73%
2004	2.50%	1.82%
2003	3.24%	1.47%
2002	3.61%	1.70%
2001	2.86%	1.25%
2000	2.98%	1.15%
1999	0.00%	0.24%