Spire Inc. (SR) 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	-$0.3	-$0.26	+13.3%	—	—	—
Q4 26	$3.76	$3.76	0.0%	—	—	—
Q3 26	$1.64	$1.77	+7.9%	—	—	—
Q2 26	-$0.38	-$0.47	-23.7%	—	—	—
Q1 26	-$0.08	$0.01	+112.5%	—	—	—
Q4 25	$3.67	$3.6	-1.9%	—	—	—
Q3 25	$1.42	$1.34	-5.6%	—	—	—
Q2 25	-$0.53	-$0.54	-1.9%	—	—	—
Q1 25	-$0.17	-$0.14	+17.6%	—	—	—
Q4 24	$3.78	$3.45	-8.7%	—	—	—
Q3 24	$1.38	$1.47	+6.5%	—	—	—
Q2 24	-$0.64	-$0.78	-21.9%	—	—	—
Q1 24	—	-$0.42	—	—	—	—
Q4 23	$3.51	$3.7	+5.4%	—	—	—
Q3 23	$1.17	$1.55	+32.5%	—	—	—
Q2 23	-$0.64	-$0.66	-3.1%	—	—	—

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	—	$4.39	—	—	$2.5B	—
FY24	—	$4.2	—	—	$2.6B	—
FY23	—	$3.86	—	—	$2.7B	—
FY22	—	$3.96	—	—	$2.2B

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	$1.5B	$1.7B	$2B	$2B	$1.9B	$2.2B	$2.2B	$2.7B	$2.6B	$2.5B
YoY change	-22.2%	+13.2%	+12.9%	-0.64%	-4.97%	+20.5%	-1.66%	+21.3%	-2.75%	-4.5%

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	1.5B	1.7B	2B	2B	1.9B	2.2B	2.2B	2.7B	2.6B	2.5B
Cost of revenue	992.9M	1.1B	1.3B	1.3B	1.2B	1.4B	1.4B	1.8B	1.6B	1.4B
Gross profit	544.4M	632.2M	616M	638M	700.7M	823.4M	825M	887.9M	982.3M	1B
Gross margin	35.4%	36.3%	31.3%	32.7%	37.8%	36.8%	37.5%	33.3%	37.9%	41.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	—	—
Operating income	282.3M	340.9M	294.1M	302.3M	355M	450.2M	408.2M	418.6M	488.3M	523.9M
Operating margin	18.4%	19.6%	15%	15.5%	19.1%	20.1%	18.6%	15.7%	18.8%	21.2%
Non-operating income, net	8.6M	-12.6M	-8M	21.2M	-148.5M	-3.4M	-8.7M	23.4M	22.4M	11.6M
Pretax income	213.7M	239.2M	187.7M	219.1M	101M	340.2M	279.7M	256.3M	309.6M	331.4M
Income tax	69.5M	77.6M	-26.5M	34.5M	12.4M	68.5M	58.9M	38.8M	58.7M	59.7M
Net income	144.2M	161.6M	214.2M	184.6M	88.6M	271.7M	220.8M	217.5M	250.9M	271.7M
Net margin	9.38%	9.28%	10.9%	9.46%	4.78%	12.2%	10%	8.16%	9.68%	11%
EBITDA	428.4M	482.4M	454.5M	505.2M	552.4M	659.9M	636.8M	696.8M	789.1M	833.7M
EPS	3.26	3.44	4.35	3.53	1.44	4.97	3.96	3.86	4.2	4.39
Diluted EPS	3.24	3.43	4.33	3.52	1.44	4.96	3.95	3.85	4.19	4.37

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	310.4M	756.6M	1.1B	414.1M	293.8M	669.1M	1.1B	421.9M	334.1M	762.2M	1B	420.2M
Cost of revenue	213.2M	497.7M	678.6M	267.6M	166.8M	399.3M	594.3M	233.8M	220.2M	452.6M	548.9M	249.5M
Gross profit	97.2M	258.9M	449.9M	146.5M	127M	269.8M	457M	188.1M	113.9M	309.6M	471.1M	170.7M
Gross margin	31.3%	34.2%	39.9%	35.4%	43.2%	40.3%	43.5%	44.6%	34.1%	40.6%	46.2%	40.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	—	—	—	—
Operating income	-3.9M	139.2M	298.6M	30.7M	19.8M	148.8M	306.4M	69.2M	-500K	173.5M	303.5M	23.4M
Operating margin	-1.26%	18.4%	26.5%	7.41%	6.74%	22.2%	29.1%	16.4%	-0.15%	22.8%	29.8%	5.57%
Non-operating income, net	4.1M	17.5M	7.3M	2.4M	-4.8M	600K	3M	4.6M	3.4M	5.3M	29.4M	4.3M
Pretax income	-48M	106.1M	253.7M	-15.7M	-34.5M	101.4M	262M	23.9M	-55.9M	118.4M	270.3M	-57.9M
Income tax	-16.9M	21M	49.4M	-3.1M	-8.6M	20.1M	52.7M	3M	-16.1M	23.4M	52.7M	-15.3M
Net income	-31.1M	85.1M	204.3M	-12.6M	-25.9M	81.3M	209.3M	20.9M	-39.8M	95M	282.2M	211.2M
Net margin	-10%	11.2%	18.1%	-3.04%	-8.82%	12.2%	19.9%	4.95%	-11.9%	12.5%	27.7%	50.3%
EBITDA	66M	223.7M	374.8M	104.5M	86.1M	221.7M	383.1M	149.5M	79.4M	260.2M	395.6M	124.4M
EPS	-0.66	1.52	3.59	-0.28	-0.51	1.34	3.52	0.29	-0.74	1.55	4.61	3.57
Diluted EPS	-0.66	1.52	3.58	-0.28	-0.51	1.34	3.51	0.29	-0.74	1.54	4.6	3.57

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	2.8B	3.5B	3.6B	4.4B	2.7B	3.2B	3.2B	3B	3.8B	4.8B	4.5B
Enterprise value	5.3B	6.1B	6.2B	7.3B	5.9B	6.8B	7.5B	7.6B	8.5B	9.9B	11.8B
Shares outstanding	44.1M	46.9M	49.1M	50.7M	51.2M	51.6M	52M	52.5M	56.1M	58.5M	58.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.5	21.7	16.9	24	30.7	11.6	14.7	13.7	15	17.6	17
P/S	1.83	2.01	1.84	2.27	1.47	1.41	1.47	1.11	1.46	1.93	1.71
P/B	1.59	1.76	1.6	1.74	1.08	1.18	1.15	1.02	1.17	1.41	1.27
EV/EBITDA	12.3	12.6	13.7	14.4	10.6	10.3	11.8	11	10.7	11.9	12.3
EV/Sales	3.43	3.48	3.17	3.73	3.15	3.05	3.42	2.86	3.26	4.01	4.42
Earnings yield	5.13%	4.62%	5.93%	4.17%	3.25%	8.61%	6.81%	7.32%	6.65%	5.7%	5.87%
FCF yield	1.25%	-4.28%	-1.19%	-8.42%	-6.19%	-11.9%	-15.3%	-7.48%	1.35%	-7.22%	-7.04%
PEG	—	—	—	—	—	—	—	—	—	—	0.02

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	35.4%	36.3%	31.3%	32.7%	37.8%	36.8%	37.5%	33.3%	37.9%	41.5%	40.6%
Operating margin	18.4%	19.6%	15%	15.5%	19.1%	20.1%	18.6%	15.7%	18.8%	21.2%	7.07%
Net margin	9.38%	9.28%	10.9%	9.46%	4.78%	12.2%	10%	8.16%	9.68%	11%	20.6%
ROE	8.16%	8.12%	9.5%	7.26%	3.51%	10.2%	7.83%	7.46%	7.76%	8.02%	8.11%
ROA	2.38%	2.47%	3.13%	2.42%	1.08%	2.9%	2.19%	2.11%	2.31%	2.35%	3.05%
ROIC	4.5%	5.05%	6.03%	4.71%	5.51%	5.68%	4.55%	4.69%	5%	5.02%	3.87%
Return on tangible assets	3.86%	3.84%	4.76%	3.5%	1.5%	3.87%	2.85%	2.73%	2.95%	2.94%	5.33%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.49	0.66	0.5	0.42	0.41	0.82	0.68	0.61	0.45	0.32	0.37
Quick ratio	0.32	0.46	0.34	0.28	0.28	0.63	0.5	0.45	0.3	0.21	0.27
Debt / equity	1.4	1.29	1.17	1.13	1.24	1.37	1.52	1.6	1.45	1.53	2.03
Debt / assets	0.41	0.39	0.38	0.38	0.38	0.39	0.42	0.45	0.43	0.45	0.52
Net debt / EBITDA	5.75	5.32	5.78	5.66	5.66	5.55	6.71	6.69	5.94	6.2	8.42
Interest coverage	3.77	3.68	2.91	3.1	1.96	4.19	3.33	2.38	2.54	2.62	2.03
Effective tax rate	32.5%	32.4%	0%	15.7%	12.3%	20.1%	21.1%	15.1%	19%	18%	16.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	34.9	37.1	40	38.5	36.2	43.3	42.3	50.8	46.2	42.3	45.2
EPS (basic)	3.26	3.44	4.35	3.53	1.44	4.97	3.96	3.86	4.2	4.39	4.39
EPS (diluted)	3.24	3.43	4.33	3.52	1.44	4.96	3.95	3.85	4.19	4.37	4.53
Book value per share	40.1	42.5	45.9	50.2	49.3	51.7	54.2	55.6	57.6	57.9	60.6
FCF per share	0.79	-3.19	-0.87	-7.35	-3.29	-7.27	-9.56	-4.23	0.91	-5.89	-3.76
Cash per share	0.12	0.16	0.09	0.11	0.08	0.08	0.13	0.11	0.08	0.1	0.35
Capex per share	—	—	—	—	—	—	—	—	—	15.8	14.1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	37.2%	32.8%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	159.6%	136.5%
Payout ratio	59.1%	59.5%	50.7%	66.3%	161.2%	54.5%	71%	76.1%	72.5%	72.5%	72%
Dividend yield	3.03%	2.75%	3.01%	2.77%	5.24%	4.69%	4.83%	5.57%	4.82%	4.13%	4.29%

Yield

4.29%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.825

ex-dividend Sep 11, 2026

Payout ratio

72%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

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

Recent payouts

Ex-dividend	Amount
Sep 11, 2026	$0.825
Jun 11, 2026	$0.825
Mar 11, 2026	$0.825

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	$310.4M	$756.6M	$1.1B	$414.1M	$293.8M	$669.1M	$1.1B	$421.9M	$334.1M	$762.2M	$1B	$420.2M
YoY change	-1.21%	-7.05%	+0.45%	-1.05%	-5.35%	-11.6%	-6.84%	+1.88%	+13.7%	+13.9%	-2.98%	-0.4%

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	5.2M	7.4M	4.4M	5.8M	4.1M	4.3M	6.5M	5.6M	4.5M	5.7M
Receivables	127.8M	140.5M	151.9M	139.8M	131.8M	338.4M	210.8M	192.4M	196.3M	191.9M
Inventory	202.3M	225.8M	210.3M	196.6M	191.5M	305M	422.3M	279.5M	263.9M	282.5M
Total current assets	569.6M	725.5M	659.6M	614.5M	590.6M	1.3B	1.6B	1.1B	771.3M	807.7M
Property, plant & equipment	-1.5B	-1.6B	-1.5B	-1.3B	-1.7B	-1.7B	-1.8B	-1.8B	-1.6B	-1.6B
Goodwill & intangibles	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B
Total assets	6.1B	6.5B	6.8B	7.6B	8.2B	9.4B	10.1B	10.3B	10.9B	11.6B
Accounts payable	210.9M	257.1M	290.1M	301.5M	243.3M	409.9M	617.4M	253.1M	237.2M	248.3M
Short-term debt	648.7M	577.3M	729.1M	783.2M	708.4M	727.8M	1.3B	1.1B	989M	1.8B
Total current liabilities	1.2B	1.1B	1.3B	1.5B	1.4B	1.6B	2.4B	1.8B	1.7B	2.5B
Long-term debt	1.8B	2B	1.9B	2.1B	2.4B	2.9B	3B	3.6B	3.7B	3.4B
Total liabilities	4.3B	4.6B	4.6B	5.1B	5.7B	6.7B	7.3B	7.4B	7.6B	8.2B
Shareholders' equity	1.8B	2B	2.3B	2.5B	2.5B	2.7B	2.8B	2.9B	3.2B	3.4B
Total debt	2.5B	2.6B	2.6B	2.9B	3.1B	3.7B	4.3B	4.7B	4.7B	5.2B
Net debt	2.5B	2.6B	2.6B	2.9B	3.1B	3.7B	4.3B	4.7B	4.7B	5.2B

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	5.6M	4.8M	25.6M	7.4M	4.5M	11.5M	15.2M	13.1M	5.7M	4.1M	49.5M	20.7M
Receivables	192.4M	428.8M	398.5M	238.4M	196.3M	379.6M	373.4M	228M	191.9M	426.2M	400.5M	228.8M
Inventory	279.5M	276.6M	214.8M	230.1M	263.9M	242.6M	179.1M	224.9M	282.5M	259.5M	182.1M	209.7M
Total current assets	1.1B	1.2B	1B	825.8M	771.3M	988M	907.8M	780.1M	807.7M	1B	1.6B	789.9M
Property, plant & equipment	-1.8B	-1.8B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-1.6B	-2.5B	-2.6B
Goodwill & intangibles	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B	3.8B	3.8B
Total assets	10.3B	10.6B	10.7B	10.7B	10.9B	11.3B	11.3B	11.4B	11.6B	11.9B	14.7B	14.1B
Accounts payable	253.1M	293.8M	193.4M	205.2M	237.2M	292.3M	283.5M	240.2M	248.3M	309.5M	185.2M	194.4M
Short-term debt	1.1B	1.5B	1.1B	1.1B	989M	1.2B	1.4B	1.4B	1.8B	900.1M	2.2B	1.5B
Total current liabilities	1.8B	2.2B	1.7B	1.7B	1.7B	2B	2.1B	2.1B	2.5B	1.7B	2.9B	2.1B
Long-term debt	3.6B	3.2B	3.4B	3.4B	3.7B	3.7B	3.3B	3.5B	3.4B	4.4B	5.8B	5.8B
Total liabilities	7.4B	7.6B	7.3B	7.4B	7.6B	8B	7.8B	7.9B	8.2B	8.4B	11.3B	10.5B
Shareholders' equity	2.9B	3.1B	3.4B	3.3B	3.2B	3.3B	3.5B	3.5B	3.4B	3.4B	3.4B	3.6B
Total debt	4.7B	4.8B	4.5B	4.5B	4.7B	4.9B	4.8B	4.9B	5.2B	5.3B	8B	7.3B
Net debt	4.7B	4.7B	4.5B	4.5B	4.7B	4.9B	4.7B	4.9B	5.2B	5.3B	7.9B	7.2B

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	144.2M	161.6M	214.2M	184.6M	88.6M	271.7M	220.8M	217.5M	250.9M	271.7M
Depreciation & amortization	137.5M	154.1M	168.4M	181.7M	197.3M	213.1M	237.3M	254.8M	278.4M	298.2M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-26.7M	-166.5M	161.4M	53.3M	15.3M	-328.2M	-481M	-97M	316.7M	-68.3M
Operating cash flow	328.7M	231.6M	559.2M	447.4M	318.4M	240.9M	43.8M	425.2M	911.3M	578M
Capital expenditure	—	—	—	—	—	—	—	—	—	-922.4M
Investing cash flow	-319.4M	4.6M	-32.3M	-15M	6.8M	2.8M	5.5M	-33M	-165.9M	-916.4M
Dividends paid	-85.2M	-96.2M	-108.7M	-122.4M	-142.8M	-148M	-156.7M	-165.5M	-181.9M	-197M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	275.8M	147.4M	89.1M	371.8M	160M	379.4M	500.9M	260.6M	123.9M	344.7M
Net change in cash	285.1M	383.6M	616M	804.2M	485.2M	623.1M	550.2M	652.8M	869.3M	6.3M
Free cash flow	35M	-149.8M	-42.8M	-372.4M	-168.5M	-375M	-497.2M	-222.3M	51.1M	-344.4M

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	-31.1M	85.1M	204.3M	-12.6M	-25.9M	81.3M	209.3M	20.9M	-39.8M	95M	282.2M	211.2M
Depreciation & amortization	65.8M	67M	68.9M	71.4M	71.1M	72.3M	73.7M	75.7M	76.5M	81.4M	87.7M	95.1M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	100K	-62M	145M	205.5M	28.2M	-50.2M	14.4M	17.8M	-50.3M	-75M	-37.5M	191.3M
Operating cash flow	18.8M	112.3M	468.6M	264.1M	66.3M	124.9M	352.6M	129.1M	-4.9M	81M	410.4M	122.2M
Capital expenditure	—	—	—	—	—	—	—	-220.5M	-222.7M	-202.8M	-192.2M	-213.4M
Investing cash flow	100K	1.3M	1.5M	4.1M	4.6M	500K	1.4M	-219.4M	-219.7M	-201.3M	-194.2M	-222.5M
Dividends paid	-41.9M	-42.5M	-45.4M	-47.5M	-46.5M	-48.3M	-49.1M	-49.5M	-50.1M	-50.9M	-52.6M	-48.7M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	0
Financing cash flow	143.8M	154.7M	-279.1M	-79.7M	328M	186M	-151.4M	92.4M	217.7M	-786M	3.4B	-746.2M
Net change in cash	162.7M	268.3M	191M	188.5M	398.9M	311.4M	202.6M	2.1M	-6.9M	-906.3M	3.7B	-846.5M
Free cash flow	-143.1M	-156.5M	306.6M	47.9M	-146.9M	-179.5M	154.1M	-91.4M	-227.6M	-121.8M	218.2M	-91.2M

Date	Ratio
Mar 8, 1994	2:1
Mar 8, 1984	2:1

Spire Inc. 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