Suburban Propane Partners L.P. (SPH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	-$0.15	-$0.27	-80.0%	—	—	—
Q4 26	$1.98	$2.08	+5.1%	—	—	—
Q3 26	$0.75	$0.7	-6.7%	—	—	—
Q2 26	-$0.51	-$0.54	-5.9%	—	—	—
Q1 26	-$0.17	-$0.17	0.0%	—	—	—
Q4 25	$2.21	$2.1	-5.0%	—	—	—
Q3 25	$0.76	$0.58	-23.7%	—	—	—
Q2 25	-$0.48	-$0.54	-12.5%	—	—	—
Q1 25	-$0.12	-$0.12	0.0%	—	—	—
Q4 24	$1.81	$1.71	-5.5%	—	—	—
Q3 24	$0.64	$0.63	-1.6%	—	—	—
Q2 24	-$0.44	-$0.52	-18.2%	—	—	—
Q1 24	-$0.06	-$0.02	+66.7%	—	—	—
Q4 23	$1.78	$1.75	-1.7%	—	—	—
Q3 23	$0.53	$0.71	+34.0%	—	—	—
Q2 23	-$0.45	-$0.86	-91.1%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.64	—	—	$1.4B	—
FY24	—	$1.15	—	—	$1.3B	—
FY23	—	$1.94	—	—	$1.4B	—
FY22	—	$2.21	—	—	$1.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1B	$1.2B	$1.3B	$1.3B	$1.1B	$1.3B	$1.5B	$1.4B	$1.3B	$1.4B
YoY change	-26.2%	+13.6%	+13.2%	-5.71%	-12.6%	+16.3%	+16.5%	-4.81%	-7.14%	+7.94%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1B	1.2B	1.3B	1.3B	1.1B	1.3B	1.5B	1.4B	1.3B	1.4B
Cost of revenue	362M	476.7M	592.6M	522M	383M	485.5M	712.1M	590.1M	522.2M	563.7M
Gross profit	684.2M	711.2M	751.8M	745.7M	724.9M	803.3M	789.3M	839.1M	805M	868.8M
Gross margin	65.4%	59.9%	55.9%	58.8%	65.4%	62.3%	52.6%	58.7%	60.7%	60.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	61.1M	57.3M	66.2M	71M	65.9M	74.1M	81.8M	91.6M	89.9M	96.4M
Operating expenses	473.9M	454.7M	463.7M	474M	467.9M	485.5M	524.2M	569.6M	566.8M	590.5M
Operating income	80.6M	128.6M	162.8M	150.9M	140.3M	213.2M	206.3M	206.8M	171.3M	206.3M
Operating margin	7.71%	10.8%	12.1%	11.9%	12.7%	16.5%	13.7%	14.5%	12.9%	14.4%
Non-operating income, net	9.5M	-14.9M	-9.5M	-4.7M	-4.9M	-21.2M	-5.5M	-9M	-21.8M	-22.1M
Pretax income	15M	38.5M	75.9M	69.5M	60.6M	123.9M	140.1M	124.4M	74.9M	107.9M
Income tax	588K	459K	-606K	857K	-146K	1.1M	429K	668K	734K	1.3M
Net income	14.4M	38M	76.5M	68.6M	60.8M	122.8M	139.7M	123.8M	74.2M	106.6M
Net margin	1.38%	3.2%	5.69%	5.41%	5.48%	9.53%	9.3%	8.66%	5.59%	7.44%
EBITDA	210.3M	243.2M	283.4M	267M	252.2M	312.6M	259.6M	260.4M	216.7M	256.2M
EPS	0.24	0.62	1.24	1.11	0.98	1.96	2.21	1.94	1.15	1.64
Diluted EPS	0.24	0.62	1.24	1.1	0.97	1.94	2.18	1.92	1.14	1.62

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	226.6M	365.8M	498.1M	254.6M	208.6M	373.3M	587.7M	260.1M	211.4M	370.4M	551.2M	261.4M
Cost of revenue	65.4M	153.1M	190.1M	94.4M	84.6M	147.2M	242.4M	99.6M	74.6M	130.8M	207.5M	101.1M
Gross profit	161.2M	212.8M	308M	160.2M	124M	226.2M	345.3M	160.6M	136.8M	239.5M	343.7M	160.3M
Gross margin	71.1%	58.2%	61.8%	62.9%	59.4%	60.6%	58.8%	61.7%	64.7%	64.7%	62.4%	61.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	21.7M	25.6M	26.1M	19.8M	18.5M	26.9M	29.9M	18.7M	20.9M	27.9M	30M	16.5M
Operating expenses	140M	147.6M	154.4M	135.6M	129.1M	150M	169.3M	136.3M	134.9M	155M	169.5M	141.4M
Operating income	4M	48.7M	136.9M	8.2M	-22.5M	59.1M	158.4M	5.6M	-16.8M	67.7M	157.9M	2.2M
Operating margin	1.76%	13.3%	27.5%	3.22%	-10.8%	15.8%	27%	2.15%	-7.93%	18.3%	28.6%	0.85%
Non-operating income, net	-5.8M	-5.9M	-5.4M	-6.7M	-3.8M	-19.5M	-729K	-1.3M	-629K	-1.9M	-555K	-721K
Pretax income	-20.6M	24.7M	111.5M	-16.9M	-44.4M	20M	137.1M	-14.6M	-34.6M	46M	137.7M	-17.3M
Income tax	247K	249K	32K	243K	210K	563K	-4K	242K	547K	231K	120K	182K
Net income	-20.9M	24.5M	111.5M	-17.2M	-44.6M	19.4M	137.1M	-14.8M	-35.1M	45.8M	137.5M	-17.5M
Net margin	-9.2%	6.68%	22.4%	-6.75%	-21.4%	5.2%	23.3%	-5.7%	-16.6%	12.4%	25%	-6.71%
EBITDA	15.4M	59.3M	148.4M	17.9M	-8.9M	56.7M	175.3M	23M	1.2M	83.8M	173.6M	18.2M
EPS	-0.33	0.38	1.73	-0.27	-0.69	0.3	2.11	-0.23	-0.53	0.69	2.07	-0.26
Diluted EPS	-0.33	0.38	1.72	-0.27	-0.69	0.3	2.1	-0.23	-0.53	0.69	2.06	-0.26

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2B	1.6B	1.4B	1.5B	1B	962.6M	951.3M	1B	1.2B	1.2B	1.1B
Enterprise value	3.2B	2.9B	2.7B	2.7B	2.3B	2.2B	2.2B	2.4B	2.5B	2.5B	2.4B
Shares outstanding	61M	61.2M	61.6M	62M	62.3M	62.7M	63.2M	63.8M	64.3M	65.1M	65.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	140.6	42	18.9	21.3	16.7	7.84	6.81	8.28	15.6	11.4	8.53
P/S	1.94	1.34	1.08	1.16	0.92	0.75	0.63	0.72	0.87	0.85	0.79
P/B	2.87	2.89	2.93	3.46	2.8	2.26	1.91	1.88	2.11	2.03	1.54
EV/EBITDA	15.3	11.8	9.52	10.1	9.28	7.05	8.32	9.03	11.5	9.93	8.71
EV/Sales	3.08	2.41	2.01	2.12	2.11	1.71	1.44	1.65	1.88	1.78	1.74
Earnings yield	0.71%	2.38%	5.28%	4.69%	5.99%	12.8%	14.7%	12.1%	6.43%	8.78%	11.7%
FCF yield	5.86%	8.49%	12.3%	13.1%	17.4%	20.4%	18.5%	17.6%	8.77%	9.41%	7.23%
PEG	—	—	—	—	—	—	—	—	—	—	0.65

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	65.4%	59.9%	55.9%	58.8%	65.4%	62.3%	52.6%	58.7%	60.7%	60.6%	61.3%
Operating margin	7.71%	10.8%	12.1%	11.9%	12.7%	16.5%	13.7%	14.5%	12.9%	14.4%	0.78%
Net margin	1.38%	3.2%	5.69%	5.41%	5.48%	9.53%	9.3%	8.66%	5.59%	7.44%	9.37%
ROE	2.04%	6.87%	15.5%	16.2%	16.8%	28.9%	28.1%	22.7%	13.6%	17.8%	19.2%
ROA	0.63%	1.75%	3.64%	3.43%	2.97%	5.98%	6.64%	5.45%	3.26%	4.64%	5.64%
ROIC	4.09%	6.97%	9.34%	9.04%	8.31%	12.7%	12.1%	11%	8.96%	10.6%	10.3%
Return on tangible assets	-3.14%	-8.3%	-17.5%	-15.1%	-18.5%	-51%	-68.8%	-65.8%	-41.5%	-56.4%	-91.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.72	0.66	0.72	0.57	0.47	0.63	0.57	0.53	0.51	0.55	0.78
Quick ratio	0.5	0.41	0.45	0.36	0.28	0.41	0.35	0.33	0.33	0.31	0.52
Debt / equity	1.73	2.3	2.54	2.9	3.67	2.93	2.44	2.43	2.47	2.22	1.86
Debt / assets	0.54	0.59	0.6	0.61	0.65	0.61	0.58	0.59	0.59	0.58	0.56
Net debt / EBITDA	5.65	5.22	4.41	4.59	5.26	3.97	4.66	5.1	6.21	5.19	4.78
Interest coverage	1.2	1.51	1.98	1.91	1.81	2.82	3.31	2.7	2	2.42	2.74
Effective tax rate	3.91%	1.19%	0%	1.23%	0%	0.9%	0.31%	0.54%	0.98%	1.25%	0.82%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	17.2	19.4	21.8	20.4	17.8	20.6	23.8	22.4	20.6	22	21
EPS (basic)	0.24	0.62	1.24	1.11	0.98	1.96	2.21	1.94	1.15	1.64	1.64
EPS (diluted)	0.24	0.62	1.24	1.1	0.97	1.94	2.18	1.92	1.14	1.62	1.93
Book value per share	11.6	9.03	8.02	6.84	5.82	6.78	7.87	8.56	8.51	9.19	10.7
FCF per share	1.95	2.22	2.88	3.09	2.84	3.14	2.79	2.82	1.57	1.76	1.52
Cash per share	0.61	0.05	0.08	0.04	0.05	0.09	0.06	0.06	0.05	0.01	0.07
Capex per share	0.1	0.08	0.1	0.09	0.08	0.07	0.08	0.07	0.05	1.11	1.2

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.57%	0.44%	0.44%	0.45%	0.44%	0.35%	0.34%	0.31%	0.22%	5.02%	5.75%
Capex / operating cash flow	3.4%	3.8%	2.96%	2.53%	2.42%	2.13%	2.37%	2.01%	1.96%	38.6%	44.2%
Payout ratio	1.5K%	570%	192.3%	215.5%	214.3%	62.3%	58.5%	66.6%	112%	79%	67.4%
Dividend yield	10.6%	13.6%	10.2%	10.1%	12.8%	7.95%	8.59%	8.04%	7.2%	6.93%	7.9%

Yield

7.9%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.325

ex-dividend Aug 4, 2026

Payout ratio

67%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 4, 2026	$0.325
May 5, 2026	$0.325
Feb 3, 2026	$0.325

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$226.6M	$365.8M	$498.1M	$254.6M	$208.6M	$373.3M	$587.7M	$260.1M	$211.4M	$370.4M	$551.2M	$261.4M
YoY change	-4.64%	-7.96%	-5.4%	-8.62%	-7.92%	+2.05%	+18%	+2.18%	+1.31%	-0.79%	-6.2%	+0.47%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	37.3M	2.8M	5.2M	2.4M	3.1M	5.8M	4.1M	3.5M	3.2M	405K
Receivables	53.8M	65.7M	71.3M	59.3M	55.4M	71.4M	78.5M	67.7M	66.4M	69.5M
Inventory	45.4M	53.2M	59.1M	45M	46.9M	61.8M	66.9M	61.8M	55.4M	73.7M
Total current assets	147.3M	139.5M	157.8M	123.4M	116M	180.1M	174.9M	164M	157.5M	166.3M
Property, plant & equipment	632.8M	581.6M	536.7M	513.4M	602.1M	584.8M	583.5M	658.6M	661.2M	669.1M
Goodwill & intangibles	2.7B	2.6B	2.5B	2.5B	2.4B	2.3B	2.3B	2.5B	2.5B	2.5B
Total assets	2.3B	2.2B	2.1B	2B	2B	2.1B	2.1B	2.3B	2.3B	2.3B
Accounts payable	32.3M	38.7M	38.3M	34.1M	32M	39.2M	35.2M	40M	41.1M	45M
Short-term debt	—	—	—	—	26.4M	30.9M	32.1M	33.6M	35.6M	34.3M
Total current liabilities	205.1M	210.4M	219M	216.1M	244.5M	287.1M	306.6M	307.8M	306.1M	302.8M
Long-term debt	1.2B	1.3B	1.3B	1.2B	1.3B	1.2B	1.2B	1.3B	1.3B	1.3B
Total liabilities	1.6B	1.6B	1.6B	1.6B	1.7B	1.6B	1.6B	1.7B	1.7B	1.7B
Shareholders' equity	708.2M	553M	493.8M	423.8M	362.4M	425.4M	497.5M	546.4M	547.1M	598.6M
Total debt	1.2B	1.3B	1.3B	1.2B	1.3B	1.2B	1.2B	1.3B	1.3B	1.3B
Net debt	1.2B	1.3B	1.2B	1.2B	1.3B	1.2B	1.2B	1.3B	1.3B	1.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	3.5M	6.3M	4.4M	4.9M	3.2M	4.4M	3.9M	1.3M	405K	1.3M	4.3M	5M
Receivables	67.7M	118.7M	123M	73.8M	66.4M	125.1M	150.5M	79.9M	69.5M	129.3M	148.1M	84.7M
Inventory	61.8M	61M	58M	51.3M	55.4M	60.6M	58.3M	60.4M	73.7M	69.3M	63.5M	65.9M
Total current assets	164M	221.6M	226.1M	164.7M	157.5M	230M	250.1M	175.2M	166.3M	236M	267.5M	194M
Property, plant & equipment	658.6M	781.5M	792.2M	794.8M	661.2M	824.6M	822.4M	813.1M	669.1M	824.6M	823.9M	827.2M
Goodwill & intangibles	2.5B	2.5B	2.4B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B	2.5B
Total assets	2.3B	2.3B	2.3B	2.3B	2.3B	2.4B	2.4B	2.3B	2.3B	2.4B	2.4B	2.4B
Accounts payable	40M	72.2M	52.4M	26.5M	41.1M	86.3M	39.3M	26.9M	45M	47.9M	44.9M	37.2M
Short-term debt	33.6M	33.5M	35.1M	35.5M	35.6M	36.3M	35.7M	35.1M	34.3M	32.8M	31M	29.9M
Total current liabilities	307.8M	309.6M	257.2M	252.4M	306.1M	329.4M	235.7M	250.6M	302.8M	272.6M	247.8M	247.9M
Long-term debt	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.3B	1.3B	1.4B	1.3B	1.3B
Total liabilities	1.7B	1.8B	1.7B	1.7B	1.7B	1.8B	1.7B	1.7B	1.7B	1.8B	1.7B	1.6B
Shareholders' equity	546.4M	549.9M	642.7M	607.2M	547.1M	545.1M	671.8M	646.1M	598.6M	626.2M	743.9M	713M
Total debt	1.3B	1.4B	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B
Net debt	1.3B	1.4B	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	14.4M	38M	76.5M	68.6M	60.8M	122.8M	139.7M	123.8M	74.2M	106.6M
Depreciation & amortization	129.6M	127.9M	125.2M	120.9M	116.8M	104.6M	58.8M	62.6M	67M	72M
Stock-based compensation	—	7.3M	8.2M	10.5M	9.2M	10.1M	11.3M	8.3M	8.2M	7.8M
Change in working capital	22.5M	-27.3M	-7.7M	31.4M	18.1M	-23.4M	10M	28.2M	554K	-36M
Operating cash flow	175M	136.3M	198.6M	227.8M	202M	210.8M	216.9M	220.3M	150M	186.3M
Capital expenditure	6M	5.2M	5.9M	5.8M	4.9M	4.5M	5.2M	4.4M	2.9M	-72M
Investing cash flow	-15.5M	5.2M	-6.2M	-13.5M	-20.7M	-4.2M	-50.1M	-125.7M	-22.2M	-131.4M
Dividends paid	-215.5M	-216.6M	-147.2M	-147.9M	-130.2M	-76.5M	-81.7M	-82.4M	-83.1M	-84.2M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-318.5M	-487.6M	-538.1M	-581.8M	-667.3M	-152.4M	-170.2M	-44.6M	-72.5M	-66.7M
Net change in cash	-159M	-346.1M	-345.7M	-367.5M	-486.1M	54.2M	-3.4M	50M	55.2M	-11.9M
Free cash flow	119M	135.7M	177.5M	191.8M	176.9M	196.7M	176.2M	180.3M	101.2M	114.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	-20.9M	24.5M	111.5M	-17.2M	-44.6M	19.4M	137.1M	-14.8M	-35.1M	45.8M	137.5M	-17.5M
Depreciation & amortization	17.2M	16.4M	16.7M	16.4M	17.5M	17.1M	17.6M	18.7M	18.6M	16.9M	16.3M	16.7M
Stock-based compensation	2M	2.6M	1.9M	1.8M	1.8M	2.4M	1.8M	1.8M	1.7M	2.3M	1.8M	1.7M
Change in working capital	51.3M	-50.7M	-60.7M	48.5M	63.4M	-48.3M	-121.9M	83.3M	50.9M	-106.1M	-43.1M	65.4M
Operating cash flow	53.9M	-1.2M	68.5M	49.2M	38.6M	-8M	33.5M	95.5M	41.8M	-47.7M	116.3M	71M
Capital expenditure	1.3M	486K	485K	1.4M	545K	402K	933K	-14.7M	-14.1M	-19.8M	-24.7M	-21.5M
Investing cash flow	-1.9M	-2.8M	-2.3M	-14.6M	-2.6M	-50.7M	-3.3M	-18.8M	-14.2M	-42M	-25.7M	-21.5M
Dividends paid	-20.6M	-20.6M	-20.8M	-20.8M	-20.8M	-20.8M	-21M	-21.1M	-21.3M	-21.4M	-21.6M	-21.6M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-49M	30.6M	-342M	-150.4M	-98.9M	67.6M	-22.5M	-82.4M	-29.4M	88.8M	-86.6M	-51.6M
Net change in cash	3M	26.6M	-275.7M	-115.7M	-62.8M	9M	7.7M	-5.7M	-1.8M	-879K	4M	-2.1M
Free cash flow	46.3M	-23.9M	60.6M	46.8M	17.7M	-15.1M	20.8M	80.9M	27.7M	-67.5M	91.5M	49.5M

Date	Ratio
Jan 19, 2001	1:1
Jun 15, 1999	10:1

Suburban Propane Partners L.P. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history