Suburban Propane Partners (SPH) Financials

$19.70 +0.08 (+0.41%)

As of 10:21 AM Eastern

Annual Income Statements for Suburban Propane Partners

This table shows Suburban Propane Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/26/2015	9/24/2016	9/30/2017	9/29/2018	9/28/2019	9/26/2020	9/25/2021	9/24/2022	9/30/2023	9/28/2024	9/27/2025
Net Income / (Loss) Attributable to Common Shareholders	84	14	38	77	69	61	123	140	124	74	107
Consolidated Net Income / (Loss)	84	14	38	77	69	61	123	140	124	74	107
Net Income / (Loss) Continuing Operations	84	14	38	77	69	61	123	140	124	74	107
Total Pre-Tax Income	85	15	38	76	69	61	124	140	124	75	108
Total Operating Income	178	81	129	163	151	140	213	206	207	171	206
Total Gross Profit	824	684	711	752	746	725	803	789	839	805	869
Total Revenue	1,417	1,046	1,188	1,344	1,268	1,108	1,289	1,501	1,429	1,327	1,433
Operating Revenue	1,371	1,046	1,188	1,344	1,268	1,108	1,289	1,501	1,429	1,327	1,433
Total Cost of Revenue	593	362	477	593	522	383	485	712	590	522	564
Operating Cost of Revenue	593	362	477	593	522	383	485	712	590	522	564
Total Operating Expenses	646	604	583	589	595	585	590	583	632	634	663
Selling, General & Admin Expense	513	474	455	464	474	468	485	524	570	567	590
Depreciation Expense	133	130	128	125	121	117	105	59	63	67	72
Total Other Income / (Expense), net	-93	-66	-90	-87	-81	-80	-89	-66	-82	-96	-98
Interest Expense	93	75	77	77	77	75	84	61	73	75	76
Other Income / (Expense), net	0.00	9.77	-13	-9.52	-4.70	-4.82	-5.17	-5.53	-9.04	-22	-22
Income Tax Expense	0.70	0.59	0.46	-0.61	0.86	-0.15	1.11	0.43	0.67	0.73	1.35
Basic Earnings per Share	$1.39	$0.24	$0.62	$1.24	$1.11	$0.98	$1.96	$2.21	$1.94	$1.15	$1.64
Weighted Average Basic Shares Outstanding	60.65M	60.96M	61.22M	61.56M	61.99M	62.30M	62.71M	63.21M	63.84M	64.31M	65.11M
Diluted Earnings per Share	$1.38	$0.24	$0.62	$1.24	$1.10	$0.97	$1.94	$2.18	$1.92	$1.14	$1.62
Weighted Average Diluted Shares Outstanding	60.91M	61.18M	61.54M	61.85M	62.37M	62.73M	63.31M	64.02M	64.44M	64.84M	65.59M
Weighted Average Basic & Diluted Shares Outstanding	60.70M	60.20M	61.30M	61.70M	61.74M	62.51M	62.96M	63.49B	64.02M	64.49M	66.16M
Cash Dividends to Common per Share	$3.54	$3.55	$3.26	$2.40	$2.40	$1.80	$1.25	$1.30	$1.30	$1.30	$1.30

This table shows Suburban Propane Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	-21	24	112	-17	-45	19	137	-15	-35	46	138
Consolidated Net Income / (Loss)	-21	24	112	-17	-45	19	137	-15	-35	46	138
Net Income / (Loss) Continuing Operations	-21	24	112	-17	-45	19	137	-15	-35	46	138
Total Pre-Tax Income	-21	25	112	-17	-44	20	137	-15	-35	46	138
Total Operating Income	3.99	49	137	8.19	-23	59	158	5.59	-17	68	158
Total Gross Profit	161	213	308	160	124	226	345	161	137	240	344
Total Revenue	227	366	498	255	209	373	588	260	211	370	551
Operating Revenue	227	366	498	255	209	373	588	260	211	370	551
Total Cost of Revenue	65	153	190	94	85	147	242	100	75	131	208
Operating Cost of Revenue	65	153	190	94	85	147	242	100	75	131	208
Total Operating Expenses	157	164	171	152	147	167	187	155	154	172	186
Selling, General & Admin Expense	140	148	154	136	129	150	169	136	135	155	170
Depreciation Expense	17	16	17	16	17	17	18	19	19	17	16
Total Other Income / (Expense), net	-25	-24	-25	-25	-22	-39	-21	-20	-18	-22	-20
Interest Expense	19	18	20	18	18	20	21	19	17	21	20
Other Income / (Expense), net	-5.81	-5.85	-5.19	-6.71	-3.78	-19	-0.73	-1.30	-0.63	-0.70	-0.56
Income Tax Expense	0.25	0.25	0.03	0.24	0.21	0.56	-0.00	0.24	0.55	0.23	0.12
Basic Earnings per Share	($0.32)	$0.38	$1.73	($0.27)	($0.69)	$0.30	$2.11	($0.23)	($0.54)	$0.69	$2.07
Weighted Average Basic Shares Outstanding	63.84M	64.06M	64.36M	64.39M	64.31M	64.50M	64.88M	65.38M	65.11M	66.26M	66.57M
Diluted Earnings per Share	($0.33)	$0.38	$1.72	($0.27)	($0.69)	$0.30	$2.10	($0.23)	($0.55)	$0.69	$2.06
Weighted Average Diluted Shares Outstanding	64.44M	64.38M	64.82M	64.39M	64.84M	64.76M	65.26M	65.38M	65.59M	66.47M	66.90M
Weighted Average Basic & Diluted Shares Outstanding	64.02M	64.02M	64.05M	64.07M	64.49M	64.49M	64.96M	65.47M	66.16M	66.33M	66.34M

This table details how cash moves in and out of Suburban Propane Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/26/2015	9/24/2016	9/30/2017	9/29/2018	9/28/2019	9/26/2020	9/25/2021	9/24/2022	9/30/2023	9/28/2024	9/27/2025
Net Change in Cash & Equivalents	60	-115	-35	2.38	-2.72	0.70	2.67	-1.71	9.97	6.44	-8.74
Net Cash From Operating Activities	320	157	164	210	227	209	227	221	225	161	186
Net Cash From Continuing Operating Activities	324	157	164	210	227	209	227	221	225	161	186
Net Income / (Loss) Continuing Operations	84	14	38	77	69	61	123	140	124	74	107
Consolidated Net Income / (Loss)	84	14	38	77	69	61	123	140	124	74	107
Depreciation Expense	133	130	128	125	121	117	105	59	63	67	72
Non-Cash Adjustments To Reconcile Net Income	29	1.70	17	14	12	11	30	15	16	31	43
Changes in Operating Assets and Liabilities, net	78	12	-19	-5.52	25	20	-31	6.93	23	-12	-35
Net Cash From Investing Activities	-36	-54	-23	-39	-49	-53	-34	-94	-171	-82	-128
Net Cash From Continuing Investing Activities	-36	-54	-23	-39	-49	-53	-34	-94	-171	-82	-128
Purchase of Property, Plant & Equipment	-41	-38	-28	-33	-35	-32	-30	-44	-45	-59	-72
Acquisitions	-6.50	-43	0.00	-15	-19	-26	-8.72	-56	-130	-25	-59
Sale of Property, Plant & Equipment	12	5.95	5.18	5.89	5.76	4.89	4.50	5.15	4.44	2.94	3.17
Divestitures	0.00	21	0.00	2.80	-	0.00	0.00	0.85	0.00	0.00	0.00
Net Cash From Financing Activities	-229	-219	-175	-169	-181	-155	-190	-128	-45	-73	-67
Net Cash From Continuing Financing Activities	-229	-219	-175	-169	-181	-155	-190	-128	-45	-73	-67
Repayment of Debt	-265	-103	-684	-372	-404	-518	-1,210	-433	-488	-615	-465
Payment of Dividends	-213	-216	-217	-147	-148	-130	-76	-82	-82	-83	-84
Issuance of Debt	250	100	725	350	371	493	1,097	387	526	626	459
Issuance of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	23
Cash Interest Paid	76	74	77	74	73	72	65	59	68	74	74

This table details how cash moves in and out of Suburban Propane Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Change in Cash & Equivalents	-4.63	3.93	1.18	0.38	0.96	1.91	-5.03	-4.70	-0.93	-0.20	5.13
Net Cash From Operating Activities	58	-13	75	61	37	8.78	40	96	42	-48	116
Net Cash From Continuing Operating Activities	58	-13	75	61	37	8.78	40	96	42	-48	116
Net Income / (Loss) Continuing Operations	-21	24	112	-17	-45	19	137	-15	-35	46	138
Consolidated Net Income / (Loss)	-21	24	112	-17	-45	19	137	-15	-35	46	138
Depreciation Expense	17	16	17	16	17	17	18	19	19	17	16
Non-Cash Adjustments To Reconcile Net Income	7.24	8.60	7.71	8.52	6.40	26	3.17	3.99	9.50	5.08	1.81
Changes in Operating Assets and Liabilities, net	54	-62	-61	54	57	-54	-118	88	49	-115	-39
Net Cash From Investing Activities	-14	-14	-17	-29	-22	-75	-23	-18	-13	-41	-25
Net Cash From Continuing Investing Activities	-14	-14	-17	-29	-22	-75	-23	-18	-13	-41	-25
Purchase of Property, Plant & Equipment	-12	-11	-15	-15	-19	-24	-19	-15	-14	-20	-25
Acquisitions	-3.20	-3.25	-2.76	-16	-3.15	-51	-4.24	-4.08	-0.08	-22	-0.96
Sale of Property, Plant & Equipment	1.26	0.49	0.49	1.42	0.55	0.40	0.93	0.97	0.87	0.68	1.15
Net Cash From Financing Activities	-49	31	-57	-32	-14	68	-23	-82	-29	89	-87
Net Cash From Continuing Financing Activities	-49	31	-57	-32	-14	68	-23	-82	-29	89	-87
Repayment of Debt	-84	-97	-321	-119	-78	-93	-143	-140	-89	-427	-130
Payment of Dividends	-21	-21	-21	-21	-21	-21	-21	-21	-21	-21	-22
Issuance of Debt	56	148	285	108	85	182	132	71	74	534	65
Issuance of Common Equity	-	-	-	-	-	0.00	-	8.08	6.59	3.15	-0.01

This table presents Suburban Propane Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/26/2015	9/24/2016	9/30/2017	9/29/2018	9/28/2019	9/26/2020	9/25/2021	9/24/2022	9/30/2023	9/28/2024	9/27/2025
Total Assets	2,486	2,282	2,171	2,101	1,998	2,047	2,052	2,104	2,270	2,273	2,296
Total Current Assets	273	147	139	158	123	116	180	175	164	158	166
Cash & Equivalents	152	37	2.79	5.16	2.44	3.14	5.81	4.10	3.51	3.22	0.41
Accounts Receivable	60	54	66	71	59	55	71	79	68	66	69
Inventories, net	48	45	53	59	45	47	62	67	62	55	74
Other Current Assets	13	11	18	22	17	11	41	25	31	32	23
Plant, Property, & Equipment, net	781	742	693	649	627	597	569	564	646	654	691
Total Noncurrent Assets	1,431	1,393	1,339	1,294	1,248	1,334	1,302	1,365	1,460	1,461	1,439
Goodwill	1,087	1,095	1,095	1,093	1,098	1,104	1,107	1,113	1,149	1,151	1,158
Intangible Assets	308	276	220	175	128	84	39	40	81	75	85
Other Noncurrent Operating Assets	36	22	25	26	21	146	156	212	231	235	196
Total Liabilities & Shareholders' Equity	2,486	2,282	2,171	2,101	1,998	2,047	2,052	2,104	2,270	2,273	2,296
Total Liabilities	1,587	1,574	1,618	1,607	1,575	1,685	1,626	1,606	1,724	1,726	1,698
Total Current Liabilities	210	205	210	219	216	245	287	307	308	306	303
Accounts Payable	35	32	39	38	34	32	39	35	40	41	45
Accrued Expenses	13	16	14	16	16	15	17	10	12	13	0.00
Current Deferred Revenue	105	106	97	-	-	-	112	128	127	127	122
Current Employee Benefit Liabilities	29	16	27	32	35	35	41	43	45	40	47
Other Current Liabilities	11	17	20	24	20	44	65	78	67	70	89
Total Noncurrent Liabilities	1,377	1,369	1,408	1,388	1,358	1,440	1,339	1,300	1,416	1,420	1,395
Long-Term Debt	1,241	1,225	1,272	1,255	1,227	1,210	1,118	1,077	1,188	1,210	1,212
Other Noncurrent Operating Liabilities	136	145	136	133	131	230	221	222	228	209	183
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	898	708	553	494	424	362	425	498	546	547	599
Total Preferred & Common Equity	898	708	553	494	424	362	425	498	546	547	599
Total Common Equity	898	708	553	494	424	362	425	498	546	547	599
Common Stock	947	754	582	518	450	388	443	510	557	553	604
Accumulated Other Comprehensive Income / (Loss)	-49	-46	-29	-25	-26	-26	-18	-13	-11	-6.15	-5.48

This table presents Suburban Propane Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/25/2022	3/25/2023	6/24/2023	12/30/2023	3/30/2024	6/29/2024	12/28/2024	3/29/2025	6/28/2025	12/27/2025	3/28/2026
Total Assets	2,115	2,351	2,280	2,320	2,338	2,284	2,385	2,400	2,315	2,396	2,427
Total Current Assets	215	254	180	222	226	165	230	250	175	236	267
Cash & Equivalents	7.07	7.18	10	6.28	4.42	4.88	4.44	3.88	1.34	1.28	4.29
Accounts Receivable	95	140	78	119	123	74	125	151	80	129	148
Inventories, net	66	66	57	61	58	51	61	58	60	69	64
Other Current Assets	46	41	35	36	41	35	40	37	34	36	52
Plant, Property, & Equipment, net	560	653	649	643	644	649	686	692	689	711	717
Total Noncurrent Assets	1,340	1,444	1,452	1,455	1,468	1,470	1,469	1,458	1,450	1,449	1,442
Goodwill	1,107	1,145	1,149	1,149	1,149	1,151	1,161	1,158	1,158	1,165	1,165
Intangible Assets	34	83	84	78	75	77	92	91	88	91	87
Other Noncurrent Operating Assets	199	216	219	228	244	241	216	209	204	193	189
Total Liabilities & Shareholders' Equity	2,115	2,351	2,280	2,320	2,338	2,284	2,385	2,400	2,315	2,396	2,427
Total Liabilities	1,550	1,743	1,696	1,770	1,695	1,676	1,839	1,728	1,668	1,770	1,683
Total Current Liabilities	242	283	264	310	257	252	329	236	251	273	248
Accounts Payable	34	69	38	72	52	26	86	39	27	48	45
Accrued Expenses	-	-	-	-	-	-	-	-	-	-	0.00
Current Deferred Revenue	-	-	-	112	73	97	111	-	90	105	63
Current Employee Benefit Liabilities	35	37	38	34	36	42	35	41	47	38	44
Other Current Liabilities	90	101	97	91	96	87	97	91	87	82	95
Total Noncurrent Liabilities	1,307	1,460	1,432	1,460	1,438	1,424	1,510	1,492	1,418	1,497	1,435
Long-Term Debt	1,079	1,235	1,215	1,244	1,212	1,203	1,303	1,294	1,225	1,323	1,259
Other Noncurrent Operating Liabilities	228	224	217	216	225	221	207	199	193	174	176
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	566	608	584	550	643	607	545	672	646	626	744
Total Preferred & Common Equity	566	608	584	550	643	607	545	672	646	626	744
Total Common Equity	566	608	584	550	643	607	545	672	646	626	744
Common Stock	582	621	597	560	653	617	551	678	652	632	750
Accumulated Other Comprehensive Income / (Loss)	-16	-12	-12	-10	-10	-9.61	-6.26	-6.38	-6.05	-5.59	-5.70

This table displays calculated financial ratios and metrics derived from Suburban Propane Partners' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/26/2015	9/24/2016	9/30/2017	9/29/2018	9/28/2019	9/26/2020	9/25/2021	9/24/2022	9/30/2023	9/28/2024	9/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-26.89%	-26.17%	13.55%	13.18%	-5.71%	-12.61%	16.32%	16.51%	-4.81%	-7.14%	7.94%
EBITDA Growth	-4.74%	-29.27%	10.54%	14.52%	-4.13%	-5.54%	23.94%	-16.95%	0.29%	-16.78%	18.25%
EBIT Growth	-6.51%	-49.14%	27.52%	32.99%	-4.67%	-7.32%	53.61%	-3.49%	-1.49%	-24.32%	23.02%
NOPAT Growth	-6.52%	-56.05%	63.99%	29.17%	-9.22%	-5.63%	50.29%	-2.66%	0.02%	-17.58%	20.15%
Net Income Growth	-10.75%	-82.88%	163.12%	101.43%	-10.32%	-11.47%	102.10%	13.78%	-11.42%	-40.06%	43.68%
EPS Growth	-11.54%	-82.61%	158.33%	100.00%	-11.29%	-11.82%	100.00%	12.37%	-11.93%	-40.63%	42.11%
Operating Cash Flow Growth	41.97%	-50.84%	4.07%	28.44%	7.78%	-7.68%	8.21%	-2.65%	2.13%	-28.70%	15.99%
Free Cash Flow Firm Growth	23.39%	-53.15%	20.14%	19.77%	0.17%	-9.57%	10.44%	-28.67%	-76.41%	260.03%	0.17%
Invested Capital Growth	-8.43%	-4.57%	-3.97%	-4.30%	-5.38%	-4.79%	-2.02%	2.08%	10.41%	1.27%	3.17%
Revenue Q/Q Growth	-4.51%	-1.26%	3.13%	-0.31%	-1.62%	-0.53%	3.38%	0.49%	-0.77%	-1.33%	0.19%
EBITDA Q/Q Growth	-4.35%	6.90%	4.74%	-8.22%	-0.39%	3.33%	5.01%	-21.34%	17.98%	-10.06%	4.09%
EBIT Q/Q Growth	-7.09%	22.10%	10.95%	-13.23%	-0.30%	7.19%	11.85%	-23.88%	22.99%	-14.07%	5.10%
NOPAT Q/Q Growth	-7.21%	13.00%	24.32%	-7.84%	-0.48%	7.08%	11.96%	-23.37%	25.47%	-13.59%	2.66%
Net Income Q/Q Growth	-12.83%	91.46%	34.04%	-0.31%	-0.34%	19.40%	25.32%	-30.69%	36.81%	-24.24%	9.73%
EPS Q/Q Growth	-13.75%	118.18%	34.78%	0.00%	0.00%	21.25%	23.57%	-30.35%	38.13%	-24.00%	9.46%
Operating Cash Flow Q/Q Growth	-5.74%	-17.03%	7.26%	6.71%	3.47%	-8.84%	2.44%	1.68%	3.89%	-11.60%	2.79%
Free Cash Flow Firm Q/Q Growth	-3.87%	-12.70%	-2.90%	4.57%	3.90%	-13.78%	-1.33%	-19.64%	252.46%	-18.68%	10.81%
Invested Capital Q/Q Growth	-6.29%	-5.01%	-3.67%	-5.11%	-5.91%	-3.65%	-2.15%	-3.32%	-2.34%	-1.93%	-2.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.12%	65.40%	59.87%	55.92%	58.82%	65.43%	62.33%	52.57%	58.71%	60.65%	60.65%
EBITDA Margin	21.95%	21.03%	20.48%	20.72%	21.06%	22.77%	24.26%	17.29%	18.22%	16.33%	17.89%
Operating Margin	12.54%	7.71%	10.83%	12.11%	11.90%	12.66%	16.55%	13.74%	14.47%	12.90%	14.40%
EBIT Margin	12.54%	8.64%	9.71%	11.40%	11.53%	12.23%	16.14%	13.37%	13.84%	11.28%	12.86%
Profit (Net Income) Margin	5.95%	1.38%	3.20%	5.69%	5.41%	5.48%	9.53%	9.30%	8.66%	5.59%	7.44%
Tax Burden Percent	99.18%	96.09%	98.81%	100.80%	98.77%	100.24%	99.10%	99.69%	99.46%	99.02%	98.75%
Interest Burden Percent	47.85%	16.62%	33.36%	49.53%	47.55%	44.75%	59.55%	69.79%	62.90%	50.03%	58.59%
Effective Tax Rate	0.82%	3.91%	1.19%	-0.80%	1.23%	-0.24%	0.90%	0.31%	0.54%	0.98%	1.25%
Return on Invested Capital (ROIC)	8.41%	3.96%	6.78%	9.14%	8.71%	8.67%	13.49%	13.13%	12.35%	9.64%	11.33%
ROIC Less NNEP Spread (ROIC-NNEP)	0.32%	-1.50%	-0.38%	2.26%	2.29%	2.17%	5.94%	7.16%	5.18%	1.77%	3.40%
Return on Net Nonoperating Assets (RNNOA)	0.38%	-2.16%	-0.76%	5.49%	6.24%	6.79%	17.69%	17.15%	11.36%	3.93%	7.27%
Return on Equity (ROE)	8.79%	1.80%	6.03%	14.62%	14.96%	15.46%	31.17%	30.27%	23.71%	13.57%	18.60%
Cash Return on Invested Capital (CROIC)	17.21%	8.63%	10.83%	13.53%	14.24%	13.57%	15.52%	11.07%	2.46%	8.38%	8.21%
Operating Return on Assets (OROA)	6.98%	3.79%	5.18%	7.18%	7.13%	6.70%	10.15%	9.66%	9.04%	6.59%	8.06%
Return on Assets (ROA)	3.31%	0.61%	1.71%	3.58%	3.35%	3.00%	5.99%	6.72%	5.66%	3.27%	4.66%
Return on Common Equity (ROCE)	8.79%	1.80%	6.03%	14.62%	14.96%	15.46%	31.17%	30.27%	23.71%	13.57%	18.60%
Return on Equity Simple (ROE_SIMPLE)	9.39%	2.04%	6.87%	15.50%	16.19%	16.77%	28.86%	28.08%	22.65%	13.56%	0.00%
Net Operating Profit after Tax (NOPAT)	176	77	127	164	149	141	211	206	206	170	204
NOPAT Margin	12.44%	7.41%	10.70%	12.21%	11.75%	12.69%	16.40%	13.70%	14.40%	12.78%	14.22%
Net Nonoperating Expense Percent (NNEP)	8.10%	5.46%	7.16%	6.88%	6.42%	6.49%	7.55%	5.97%	7.17%	7.87%	7.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	11.25%
Cost of Revenue to Revenue	41.88%	34.60%	40.13%	44.08%	41.18%	34.57%	37.67%	47.43%	41.29%	39.35%	39.35%
SG&A Expenses to Revenue	36.17%	45.30%	38.28%	34.49%	37.39%	42.23%	37.67%	34.91%	39.86%	42.70%	41.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	45.58%	57.69%	49.05%	43.81%	46.92%	52.77%	45.78%	38.83%	44.24%	47.75%	46.25%
Earnings before Interest and Taxes (EBIT)	178	90	115	153	146	135	208	201	198	150	184
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	311	220	243	279	267	252	313	260	260	217	256
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	1.43	1.60	1.79	2.36	1.94	1.85	1.72	1.73	2.08	2.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.63	0.97	0.74	0.66	0.79	0.64	0.61	0.57	0.66	0.86	0.83
Price to Earnings (P/E)	10.53	70.35	23.23	11.55	14.56	11.59	6.42	6.12	7.65	15.30	11.22
Dividend Yield	24.18%	21.38%	24.75%	16.79%	14.98%	18.71%	9.84%	9.73%	8.85%	7.43%	7.13%
Earnings Yield	9.50%	1.42%	4.30%	8.65%	6.87%	8.63%	15.59%	16.33%	13.07%	6.53%	8.91%
Enterprise Value to Invested Capital (EV/IC)	0.99	1.15	1.17	1.21	1.34	1.21	1.23	1.22	1.22	1.32	1.32
Enterprise Value to Revenue (EV/Rev)	1.39	2.11	1.81	1.59	1.75	1.73	1.47	1.28	1.49	1.76	1.68
Enterprise Value to EBITDA (EV/EBITDA)	6.35	10.01	8.85	7.66	8.33	7.58	6.08	7.43	8.19	10.81	9.39
Enterprise Value to EBIT (EV/EBIT)	11.12	24.37	18.67	13.92	15.22	14.11	9.13	9.60	10.78	15.64	13.07
Enterprise Value to NOPAT (EV/NOPAT)	11.21	28.43	16.94	13.00	14.93	13.59	8.99	9.38	10.36	13.81	11.81
Enterprise Value to Operating Cash Flow (EV/OCF)	6.17	13.99	13.14	10.14	9.81	9.13	8.39	8.74	9.46	14.59	12.92
Enterprise Value to Free Cash Flow (EV/FCFF)	5.48	13.04	10.60	8.78	9.13	8.68	7.81	11.11	52.08	15.89	16.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.38	1.73	2.30	2.54	2.90	3.34	2.63	2.17	2.17	2.21	2.02
Long-Term Debt to Equity	1.38	1.73	2.30	2.54	2.90	3.34	2.63	2.17	2.17	2.21	2.02
Financial Leverage	1.18	1.44	1.97	2.43	2.73	3.13	2.98	2.40	2.19	2.22	2.14
Leverage Ratio	2.65	2.97	3.53	4.08	4.47	5.15	5.20	4.50	4.19	4.16	3.99
Compound Leverage Factor	1.27	0.49	1.18	2.02	2.12	2.30	3.10	3.14	2.64	2.08	2.34
Debt to Total Capital	58.01%	63.36%	69.70%	71.76%	74.33%	76.96%	72.44%	68.41%	68.50%	68.87%	66.94%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	58.01%	63.36%	69.70%	71.76%	74.33%	76.96%	72.44%	68.41%	68.50%	68.87%	66.94%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.99%	36.64%	30.30%	28.24%	25.67%	23.04%	27.56%	31.59%	31.50%	31.13%	33.06%
Debt to EBITDA	3.99	5.57	5.23	4.51	4.60	4.80	3.58	4.15	4.56	5.59	4.73
Net Debt to EBITDA	3.50	5.40	5.22	4.49	4.59	4.79	3.56	4.13	4.55	5.57	4.73
Long-Term Debt to EBITDA	3.99	5.57	5.23	4.51	4.60	4.80	3.58	4.15	4.56	5.59	4.73
Debt to NOPAT	7.04	15.80	10.01	7.65	8.24	8.61	5.29	5.24	5.78	7.14	5.95
Net Debt to NOPAT	6.18	15.32	9.99	7.62	8.22	8.58	5.26	5.22	5.76	7.12	5.95
Long-Term Debt to NOPAT	7.04	15.80	10.01	7.65	8.24	8.61	5.29	5.24	5.78	7.14	5.95
Altman Z-Score	1.17	0.95	1.01	1.18	1.20	0.93	1.19	1.27	1.17	1.12	1.24
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.30	0.72	0.66	0.72	0.57	0.47	0.63	0.57	0.53	0.51	0.55
Quick Ratio	1.01	0.44	0.33	0.35	0.29	0.24	0.27	0.27	0.23	0.23	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	361	169	203	243	244	220	243	174	41	147	148
Operating Cash Flow to CapEx	1,086.49%	485.49%	712.64%	778.81%	776.25%	758.34%	893.38%	562.59%	555.97%	284.26%	270.78%
Free Cash Flow to Firm to Interest Expense	3.89	2.24	2.64	3.14	3.18	2.94	2.89	2.86	0.56	1.97	1.94
Operating Cash Flow to Interest Expense	3.45	2.09	2.13	2.72	2.96	2.80	2.69	3.64	3.07	2.15	2.44
Operating Cash Flow Less CapEx to Interest Expense	3.14	1.66	1.83	2.37	2.58	2.43	2.39	2.99	2.52	1.39	1.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.44	0.53	0.63	0.62	0.55	0.63	0.72	0.65	0.58	0.63
Accounts Receivable Turnover	18.07	18.40	19.88	19.63	19.41	19.30	20.33	20.03	19.55	19.79	21.08
Inventory Turnover	8.56	7.78	9.67	10.55	10.02	8.33	8.93	11.06	9.17	8.91	8.73
Fixed Asset Turnover	1.76	1.37	1.66	2.00	1.99	1.81	2.21	2.65	2.36	2.04	2.13
Accounts Payable Turnover	14.10	10.77	13.44	15.41	14.43	11.59	13.65	19.16	15.69	12.88	13.09
Days Sales Outstanding (DSO)	20.20	19.84	18.36	18.59	18.81	18.91	17.96	18.22	18.67	18.44	17.32
Days Inventory Outstanding (DIO)	42.64	46.91	37.74	34.59	36.41	43.80	40.85	32.99	39.82	40.98	41.81
Days Payable Outstanding (DPO)	25.89	33.89	27.16	23.69	25.30	31.49	26.75	19.05	23.26	28.34	27.87
Cash Conversion Cycle (CCC)	36.96	32.86	28.94	29.50	29.92	31.22	32.06	32.16	35.23	31.08	31.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,003	1,912	1,836	1,757	1,662	1,583	1,551	1,583	1,748	1,770	1,826
Invested Capital Turnover	0.68	0.53	0.63	0.75	0.74	0.68	0.82	0.96	0.86	0.75	0.80
Increase / (Decrease) in Invested Capital	-184	-91	-76	-79	-95	-80	-32	32	165	22	56
Enterprise Value (EV)	1,977	2,203	2,152	2,134	2,224	1,911	1,900	1,929	2,132	2,342	2,407
Market Capitalization	888	1,016	883	884	999	704	788	855	947	1,135	1,196
Book Value per Share	$14.84	$11.65	$9.05	$8.04	$6.87	$5.83	$6.80	$7.90	$8.60	$8.54	$9.14
Tangible Book Value per Share	($8.21)	($10.90)	($12.46)	($12.62)	($13.00)	($13.28)	($11.53)	($10.41)	($10.75)	($10.59)	($9.84)
Total Capital	2,139	1,933	1,825	1,749	1,651	1,573	1,543	1,575	1,735	1,757	1,810
Total Debt	1,241	1,225	1,272	1,255	1,227	1,210	1,118	1,077	1,188	1,210	1,212
Total Long-Term Debt	1,241	1,225	1,272	1,255	1,227	1,210	1,118	1,077	1,188	1,210	1,212
Net Debt	1,089	1,187	1,269	1,250	1,225	1,207	1,112	1,073	1,185	1,207	1,211
Capital Expenditures (CapEx)	29	32	23	27	29	28	25	39	41	56	69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-89	-95	-74	-66	-95	-132	-113	-136	-147	-152	-137
Debt-free Net Working Capital (DFNWC)	63	-58	-71	-61	-93	-129	-107	-132	-144	-149	-137
Net Working Capital (NWC)	63	-58	-71	-61	-93	-129	-107	-132	-144	-149	-137
Net Nonoperating Expense (NNE)	92	63	89	88	80	80	89	66	82	95	97
Net Nonoperating Obligations (NNO)	1,105	1,204	1,283	1,263	1,239	1,220	1,125	1,086	1,202	1,223	1,228
Total Depreciation and Amortization (D&A)	133	130	128	125	121	117	105	59	63	67	72
Debt-free, Cash-free Net Working Capital to Revenue	-6.30%	-9.09%	-6.20%	-4.94%	-7.50%	-11.89%	-8.76%	-9.05%	-10.31%	-11.44%	-9.56%
Debt-free Net Working Capital to Revenue	4.45%	-5.52%	-5.97%	-4.56%	-7.31%	-11.60%	-8.31%	-8.78%	-10.06%	-11.20%	-9.53%
Net Working Capital to Revenue	4.45%	-5.52%	-5.97%	-4.56%	-7.31%	-11.60%	-8.31%	-8.78%	-10.06%	-11.20%	-9.53%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.39	$0.24	$0.62	$1.24	$1.11	$0.98	$1.96	$2.21	$1.94	$1.15	$1.64
Adjusted Weighted Average Basic Shares Outstanding	60.65M	60.96M	61.22M	61.56M	61.99M	62.30M	62.71M	63.21M	63.84M	64.31M	65.11M
Adjusted Diluted Earnings per Share	$1.38	$0.24	$0.62	$1.24	$1.10	$0.97	$1.94	$2.18	$1.92	$1.14	$1.62
Adjusted Weighted Average Diluted Shares Outstanding	60.91M	61.18M	61.54M	61.85M	62.37M	62.73M	63.31M	64.02M	64.44M	64.84M	65.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.53M	60.79M	61.11M	61.11M	61.74M	62.51M	62.96M	63.49B	64.02M	64.49M	66.16M
Normalized Net Operating Profit after Tax (NOPAT)	176	77	127	114	149	98	211	206	206	170	204
Normalized NOPAT Margin	12.44%	7.41%	10.70%	8.48%	11.75%	8.86%	16.40%	13.70%	14.40%	12.78%	14.22%
Pre Tax Income Margin	6.00%	1.44%	3.24%	5.65%	5.48%	5.47%	9.61%	9.33%	8.71%	5.64%	7.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.92	1.20	1.50	1.98	1.91	1.81	2.47	3.31	2.70	2.00	2.42
NOPAT to Interest Expense	1.90	1.03	1.65	2.12	1.94	1.88	2.51	3.39	2.80	2.27	2.67
EBIT Less CapEx to Interest Expense	1.60	0.77	1.20	1.63	1.53	1.44	2.17	2.66	2.14	1.25	1.51
NOPAT Less CapEx to Interest Expense	1.58	0.60	1.35	1.77	1.56	1.51	2.21	2.74	2.25	1.51	1.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	252.65%	1,492.53%	570.01%	192.31%	215.47%	214.30%	62.29%	58.50%	66.57%	112.02%	78.99%
Augmented Payout Ratio	252.65%	1,492.53%	570.01%	192.31%	215.47%	214.30%	62.29%	58.50%	66.57%	112.02%	78.99%

This table displays calculated financial ratios and metrics derived from Suburban Propane Partners' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	66,331,481.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	66,331,481.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.12%	-7.96%	-5.40%	-8.62%	-7.92%	2.05%	17.98%	2.18%	1.31%	-0.79%	-6.20%
EBITDA Growth	131.07%	-21.07%	5.51%	-38.95%	-157.53%	-4.38%	18.12%	28.91%	113.83%	47.84%	-0.96%
EBIT Growth	97.16%	-30.07%	5.69%	-89.20%	-1,349.83%	-7.69%	19.76%	189.53%	33.97%	69.09%	-0.21%
NOPAT Growth	106.36%	-22.64%	9.10%	-44.91%	-665.25%	18.94%	15.78%	-31.73%	25.69%	17.27%	-0.41%
Net Income Growth	73.35%	-46.13%	6.72%	-226.76%	-113.77%	-20.59%	22.98%	13.70%	21.20%	135.74%	0.31%
EPS Growth	73.17%	-46.48%	6.17%	-237.50%	-109.09%	-21.05%	22.09%	14.81%	20.29%	130.00%	-1.90%
Operating Cash Flow Growth	17.07%	-303.68%	-24.19%	-0.91%	-36.42%	168.74%	-46.64%	55.52%	13.73%	-642.77%	189.92%
Free Cash Flow Firm Growth	-112.92%	-202.89%	1,198.13%	93.45%	76.55%	100.07%	-61.28%	-559.32%	-78.59%	-2,998.49%	154.05%
Invested Capital Growth	10.41%	0.00%	0.78%	0.84%	1.27%	3.14%	6.00%	3.61%	3.17%	5.64%	1.90%
Revenue Q/Q Growth	-18.67%	61.45%	36.15%	-48.88%	-18.05%	78.93%	57.41%	-55.73%	-18.75%	75.23%	48.82%
EBITDA Q/Q Growth	-47.40%	285.34%	150.29%	-87.96%	-149.56%	740.54%	209.18%	-86.87%	-94.68%	6,747.55%	107.13%
EBIT Q/Q Growth	-113.24%	2,462.06%	206.95%	-98.88%	-1,877.79%	250.39%	298.24%	-97.28%	-505.41%	485.12%	135.04%
NOPAT Q/Q Growth	-73.17%	1,628.20%	183.53%	-95.81%	-375.31%	463.66%	176.00%	-97.53%	-399.68%	673.91%	134.39%
Net Income Q/Q Growth	-296.46%	217.24%	355.96%	-115.42%	-159.37%	143.55%	606.08%	-110.82%	-136.85%	230.29%	200.44%
EPS Q/Q Growth	-312.50%	215.15%	352.63%	-115.70%	-155.56%	143.48%	600.00%	-110.95%	-139.13%	225.45%	198.55%
Operating Cash Flow Q/Q Growth	-6.70%	-122.08%	688.25%	-18.25%	-40.13%	-76.12%	356.64%	138.25%	-56.22%	-213.95%	343.92%
Free Cash Flow Firm Q/Q Growth	-14.14%	-973.44%	107.05%	-107.59%	-308.47%	103.32%	3,657.80%	-229.21%	-10.64%	46.05%	429.37%
Invested Capital Q/Q Growth	-2.34%	2.26%	3.53%	-2.47%	-1.93%	4.15%	6.40%	-4.66%	-2.35%	6.64%	2.63%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.13%	58.16%	61.83%	62.92%	59.44%	60.58%	58.76%	61.73%	64.70%	64.68%	62.36%
EBITDA Margin	6.79%	16.21%	29.79%	7.01%	-4.24%	15.19%	29.83%	8.85%	0.58%	22.63%	31.50%
Operating Margin	1.76%	13.33%	27.48%	3.22%	-10.81%	15.82%	26.96%	2.15%	-7.93%	18.27%	28.65%
EBIT Margin	-0.80%	11.73%	26.43%	0.58%	-12.62%	10.61%	26.83%	1.65%	-8.22%	18.08%	28.55%
Profit (Net Income) Margin	-9.21%	6.68%	22.39%	-6.75%	-21.37%	5.20%	23.33%	-5.70%	-16.62%	12.36%	24.95%
Tax Burden Percent	101.20%	98.99%	99.97%	101.43%	100.47%	97.18%	100.00%	101.66%	101.58%	99.50%	99.91%
Interest Burden Percent	1,134.97%	57.59%	84.71%	-1,144.36%	168.56%	50.47%	86.96%	-340.32%	198.97%	68.72%	87.48%
Effective Tax Rate	0.00%	1.01%	0.03%	0.00%	0.00%	2.82%	0.00%	0.00%	0.00%	0.50%	0.09%
Return on Invested Capital (ROIC)	1.06%	20.63%	20.40%	1.69%	-5.71%	11.30%	20.14%	1.17%	-4.42%	13.71%	20.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.01%	16.78%	18.32%	-0.22%	-8.08%	8.31%	18.44%	-0.38%	-6.33%	12.06%	18.55%
Return on Net Nonoperating Assets (RNNOA)	-2.21%	37.76%	35.68%	-0.45%	-17.93%	19.24%	35.03%	-0.73%	-13.54%	26.98%	33.34%
Return on Equity (ROE)	-1.16%	58.39%	56.08%	1.24%	-23.63%	30.54%	55.18%	0.44%	-17.96%	40.68%	53.47%
Cash Return on Invested Capital (CROIC)	2.46%	-178.57%	10.24%	10.08%	8.38%	6.76%	4.72%	7.25%	8.21%	5.77%	8.86%
Operating Return on Assets (OROA)	-0.52%	7.06%	15.44%	0.34%	-7.37%	6.02%	16.13%	1.03%	-5.16%	10.81%	16.48%
Return on Assets (ROA)	-6.02%	4.03%	13.07%	-3.98%	-12.49%	2.95%	14.03%	-3.55%	-10.42%	7.39%	14.40%
Return on Common Equity (ROCE)	-1.16%	58.39%	56.08%	1.24%	-23.63%	30.54%	55.18%	0.44%	-17.96%	40.68%	53.47%
Return on Equity Simple (ROE_SIMPLE)	0.00%	18.70%	17.09%	16.12%	0.00%	12.68%	14.11%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.79	48	137	5.73	-16	57	158	3.91	-12	67	158
NOPAT Margin	1.23%	13.19%	27.47%	2.25%	-7.57%	15.37%	26.96%	1.50%	-5.55%	18.17%	28.62%
Net Nonoperating Expense Percent (NNEP)	2.07%	3.85%	2.08%	1.91%	2.38%	3.00%	1.71%	1.55%	1.91%	1.64%	1.59%
Return On Investment Capital (ROIC_SIMPLE)	-	2.69%	7.38%	-	-	3.11%	8.06%	0.21%	-0.65%	3.45%	7.88%
Cost of Revenue to Revenue	28.87%	41.84%	38.17%	37.08%	40.56%	39.42%	41.24%	38.27%	35.30%	35.33%	37.64%
SG&A Expenses to Revenue	61.78%	40.36%	31.00%	53.27%	61.87%	40.18%	28.81%	52.38%	63.82%	41.86%	30.76%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	69.37%	44.84%	34.35%	59.71%	70.25%	44.76%	31.80%	59.58%	72.62%	46.41%	33.71%
Earnings before Interest and Taxes (EBIT)	-1.82	43	132	1.48	-26	40	158	4.29	-17	67	157
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	59	148	18	-8.85	57	175	23	1.22	84	174
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.73	1.91	1.89	1.98	2.08	2.02	2.03	1.85	2.00	1.96	1.80
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.66	0.75	0.89	0.89	0.86	0.83	0.96	0.84	0.83	0.86	0.96
Price to Earnings (P/E)	7.65	10.22	11.08	12.25	15.30	15.95	14.41	12.31	11.22	9.25	10.06
Dividend Yield	8.85%	7.97%	6.93%	6.98%	7.43%	7.63%	6.21%	7.11%	7.13%	7.02%	6.48%
Earnings Yield	13.07%	9.79%	9.03%	8.16%	6.53%	6.27%	6.94%	8.12%	8.91%	10.81%	9.94%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.28	1.31	1.33	1.32	1.30	1.35	1.29	1.32	1.31	1.30
Enterprise Value to Revenue (EV/Rev)	1.49	1.64	1.77	1.78	1.76	1.80	1.86	1.69	1.68	1.78	1.86
Enterprise Value to EBITDA (EV/EBITDA)	8.19	9.36	9.61	9.95	10.81	11.22	11.02	9.83	9.39	9.00	9.22
Enterprise Value to EBIT (EV/EBIT)	10.78	12.76	13.00	13.76	15.64	16.40	15.40	13.81	13.07	12.06	12.29
Enterprise Value to NOPAT (EV/NOPAT)	10.36	11.95	11.94	12.22	13.81	13.43	13.21	12.19	11.81	11.96	12.21
Enterprise Value to Operating Cash Flow (EV/OCF)	9.46	11.10	13.31	13.20	14.59	13.18	18.05	13.35	12.92	19.66	12.60
Enterprise Value to Free Cash Flow (EV/FCFF)	52.08	0.00	12.84	13.23	15.89	19.57	29.49	18.17	16.31	23.33	14.80
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.17	2.26	1.89	1.98	2.21	2.39	1.93	1.90	2.02	2.11	1.69
Long-Term Debt to Equity	2.17	2.26	1.89	1.98	2.21	2.39	1.93	1.90	2.02	2.11	1.69
Financial Leverage	2.19	2.25	1.95	2.02	2.22	2.32	1.90	1.93	2.14	2.24	1.80
Leverage Ratio	4.19	4.22	3.75	3.83	4.16	4.30	3.60	3.67	3.99	4.08	3.41
Compound Leverage Factor	47.56	2.43	3.18	-43.83	7.00	2.17	3.13	-12.49	7.94	2.80	2.98
Debt to Total Capital	68.50%	69.34%	65.35%	66.45%	68.87%	70.50%	65.82%	65.48%	66.94%	67.87%	62.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	68.50%	69.34%	65.35%	66.45%	68.87%	70.50%	65.82%	65.48%	66.94%	67.87%	62.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	31.50%	30.66%	34.65%	33.55%	31.13%	29.50%	34.18%	34.52%	33.06%	32.13%	37.14%
Debt to EBITDA	4.56	5.09	4.80	4.99	5.59	6.09	5.37	4.98	4.73	4.67	4.47
Net Debt to EBITDA	4.55	5.06	4.79	4.97	5.57	6.06	5.35	4.97	4.73	4.66	4.45
Long-Term Debt to EBITDA	4.56	5.09	4.80	4.99	5.59	6.09	5.37	4.98	4.73	4.67	4.47
Debt to NOPAT	5.78	6.50	5.97	6.13	7.14	7.28	6.44	6.17	5.95	6.20	5.92
Net Debt to NOPAT	5.76	6.46	5.95	6.10	7.12	7.26	6.42	6.17	5.95	6.20	5.90
Long-Term Debt to NOPAT	5.78	6.50	5.97	6.13	7.14	7.28	6.44	6.17	5.95	6.20	5.92
Altman Z-Score	0.88	0.97	1.19	0.97	0.86	0.92	1.29	1.01	0.95	1.09	1.28
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.53	0.72	0.88	0.65	0.51	0.70	1.06	0.70	0.55	0.87	1.08
Quick Ratio	0.23	0.40	0.50	0.31	0.23	0.39	0.66	0.32	0.23	0.48	0.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-162	-1,739	123	-9.30	-38	1.26	47	-61	-68	-37	121
Operating Cash Flow to CapEx	561.24%	-119.80%	534.45%	463.44%	198.68%	37.46%	218.23%	696.63%	315.60%	-249.27%	493.15%
Free Cash Flow to Firm to Interest Expense	-8.62	-95.60	6.09	-0.50	-2.10	0.06	2.31	-3.25	-3.94	-1.75	6.12
Operating Cash Flow to Interest Expense	3.08	-0.70	3.73	3.33	2.04	0.45	1.95	5.06	2.43	-2.28	5.90
Operating Cash Flow Less CapEx to Interest Expense	2.53	-1.29	3.03	2.61	1.01	-0.75	1.06	4.33	1.66	-3.19	4.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.60	0.58	0.59	0.58	0.57	0.60	0.62	0.63	0.60	0.58
Accounts Receivable Turnover	19.55	11.77	10.43	17.71	19.79	10.95	10.42	18.60	21.08	11.24	9.33
Inventory Turnover	9.17	9.19	8.36	9.33	8.91	8.50	9.78	10.27	8.73	8.43	8.41
Fixed Asset Turnover	2.36	2.17	2.11	2.07	2.04	2.01	2.13	2.14	2.13	2.05	1.98
Accounts Payable Turnover	15.69	7.76	8.53	15.70	12.88	6.52	12.40	21.52	13.09	8.16	12.18
Days Sales Outstanding (DSO)	18.67	31.01	34.99	20.61	18.44	33.34	35.04	19.62	17.32	32.48	39.12
Days Inventory Outstanding (DIO)	39.82	39.70	43.64	39.13	40.98	42.96	37.31	35.54	41.81	43.29	43.38
Days Payable Outstanding (DPO)	23.26	47.03	42.81	23.25	28.34	56.02	29.43	16.96	27.87	44.72	29.97
Cash Conversion Cycle (CCC)	35.23	23.69	35.82	36.48	31.08	20.29	42.92	38.20	31.26	31.05	52.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,748	1,787	1,851	1,805	1,770	1,844	1,961	1,870	1,826	1,947	1,999
Invested Capital Turnover	0.86	1.56	0.74	0.75	0.75	0.74	0.75	0.78	0.80	0.75	0.70
Increase / (Decrease) in Invested Capital	165	1,787	14	15	22	56	111	65	56	104	37
Enterprise Value (EV)	2,132	2,288	2,425	2,397	2,342	2,401	2,655	2,420	2,407	2,551	2,596
Market Capitalization	947	1,050	1,217	1,200	1,135	1,103	1,365	1,196	1,196	1,230	1,341
Book Value per Share	$8.60	$8.58	$10.04	$9.48	$8.54	$8.45	$10.42	$9.95	$9.14	$9.47	$11.21
Tangible Book Value per Share	($10.75)	($10.56)	($9.07)	($9.70)	($10.59)	($10.97)	($8.94)	($9.23)	($9.84)	($9.52)	($7.67)
Total Capital	1,735	1,794	1,855	1,810	1,757	1,848	1,965	1,871	1,810	1,949	2,003
Total Debt	1,188	1,244	1,212	1,203	1,210	1,303	1,294	1,225	1,212	1,323	1,259
Total Long-Term Debt	1,188	1,244	1,212	1,203	1,210	1,303	1,294	1,225	1,212	1,323	1,259
Net Debt	1,185	1,237	1,208	1,198	1,207	1,298	1,290	1,224	1,211	1,321	1,255
Capital Expenditures (CapEx)	10	11	14	13	19	23	18	14	13	19	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-147	-94	-35	-93	-152	-104	11	-77	-137	-38	15
Debt-free Net Working Capital (DFNWC)	-144	-88	-31	-88	-149	-99	14	-75	-137	-37	20
Net Working Capital (NWC)	-144	-88	-31	-88	-149	-99	14	-75	-137	-37	20
Net Nonoperating Expense (NNE)	24	24	25	23	29	38	21	19	23	22	20
Net Nonoperating Obligations (NNO)	1,202	1,237	1,208	1,198	1,223	1,298	1,290	1,224	1,228	1,321	1,255
Total Depreciation and Amortization (D&A)	17	16	17	16	17	17	18	19	19	17	16
Debt-free, Cash-free Net Working Capital to Revenue	-10.31%	-6.74%	-2.59%	-6.88%	-11.44%	-7.78%	0.74%	-5.37%	-9.56%	-2.65%	1.11%
Debt-free Net Working Capital to Revenue	-10.06%	-6.29%	-2.27%	-6.52%	-11.20%	-7.45%	1.01%	-5.27%	-9.53%	-2.56%	1.41%
Net Working Capital to Revenue	-10.06%	-6.29%	-2.27%	-6.52%	-11.20%	-7.45%	1.01%	-5.27%	-9.53%	-2.56%	1.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.32)	$0.38	$1.73	($0.27)	($0.69)	$0.30	$2.11	($0.23)	($0.54)	$0.69	$2.07
Adjusted Weighted Average Basic Shares Outstanding	63.84M	64.06M	64.36M	64.39M	64.31M	64.50M	64.88M	65.38M	65.11M	66.26M	66.57M
Adjusted Diluted Earnings per Share	($0.33)	$0.38	$1.72	($0.27)	($0.69)	$0.30	$2.10	($0.23)	($0.55)	$0.69	$2.06
Adjusted Weighted Average Diluted Shares Outstanding	64.44M	64.38M	64.82M	64.39M	64.84M	64.76M	65.26M	65.38M	65.59M	66.47M	66.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	64.02M	64.02M	64.05M	64.07M	64.49M	64.49M	64.96M	65.47M	66.16M	66.33M	66.34M
Normalized Net Operating Profit after Tax (NOPAT)	2.79	48	137	5.73	-16	57	111	3.91	-12	67	158
Normalized NOPAT Margin	1.23%	13.19%	27.47%	2.25%	-7.57%	15.37%	18.87%	1.50%	-5.55%	18.17%	28.62%
Pre Tax Income Margin	-9.10%	6.75%	22.39%	-6.66%	-21.27%	5.35%	23.33%	-5.61%	-16.36%	12.42%	24.97%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.10	2.36	6.54	0.08	-1.46	2.02	7.67	0.23	-1.01	3.20	7.99
NOPAT to Interest Expense	0.15	2.65	6.80	0.31	-0.87	2.93	7.70	0.21	-0.68	3.21	8.01
EBIT Less CapEx to Interest Expense	-0.65	1.77	5.84	-0.64	-2.48	0.82	6.77	-0.50	-1.78	2.28	6.79
NOPAT Less CapEx to Interest Expense	-0.40	2.07	6.10	-0.41	-1.90	1.73	6.81	-0.52	-1.45	2.30	6.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	66.57%	80.30%	75.32%	84.68%	112.02%	120.43%	88.04%	86.21%	78.99%	63.76%	64.00%
Augmented Payout Ratio	66.57%	80.30%	75.32%	84.68%	112.02%	120.43%	88.04%	86.21%	78.99%	63.76%	64.00%

Financials Breakdown Chart

Key Financial Trends

Suburban Propane Partners (SPH) has shown a mix of profitability and liquidity challenges over the last four years, with notable volatility in net income, sizable investing activity, and a sustained, levered balance sheet. The four-year view below highlights key trends in profitability, cash flow, and leverage that retail investors should watch.

In several quarters, SPH delivered meaningful net income attributable to common shareholders, including about $137.1 million in Q2 2025 and about $45.8 million in Q1 2026, signaling episodic profitability despite ongoing volatility.
Top-line revenue in 2025 showed strength in some quarters (e.g., 2025 Q2 Operating Revenue around $587.7 million versus about $498.1 million in 2024 Q2), suggesting a recent upshift in volume or pricing that supports earnings potential.
Net cash from continuing operating activities was positive in several quarters (e.g., roughly $95.5 million in 2025 Q3, about $40.1 million in 2025 Q2, and about $8.8 million in 2025 Q1), indicating periods of stronger cash generation from core operations.
The company did raise liquidity through financing activities in multiple quarters (for example, net cash from continuing financing activities was about $88.8 million in 2026 Q1 and about $67.6 million in 2025 Q1), showing ongoing access to debt/equity capital when needed.
The balance sheet reflects a substantial asset base, including Plant, Property & Equipment (net) around the mid-to-high $600s million range in recent periods (e.g., approximately $711 million in early 2026), supporting ongoing operations and potential for capacity expansion if cash flow recovers.
Profitability remains cyclical, with several quarters showing net income from continuing operations that are negative (e.g., 2025 Q4 and 2025 Q3) and recurring total company net income fluctuations tied to non-cash and tax elements.
Cash flow from changes in operating assets and liabilities has produced large swings (e.g., significant buffets of working capital in some quarters), contributing to volatile operating cash flow and complicating near-term cash planning.
The company carries a relatively high leverage profile, with long-term debt typically around $1.2–1.32 billion and total liabilities several times larger than net equity in several periods, raising ongoing liquidity and coverage considerations.
Free-cash-flow dynamics are mixed: while CFO has turned positive in several quarters, sizable investing cash outflows (capex and acquisitions) have driven negative net investing cash flow in many periods, which can pressure near-term cash balances.
In several quarters, net change in cash and cash equivalents was negative or barely positive, underscoring structural liquidity gaps that often rely on ongoing financing activity to fund operations and capital needs.

Overall takeaway for investors: SPH has demonstrated episodic profitability and capacity to generate operating cash flow in certain quarters, but the business remains highly leveraged with volatile cash generation driven by working capital and capex needs. The reliance on financing activity to fund liquidity in multiple periods, combined with recurring negative cash flow from investing activities, suggests a stock that may face liquidity and coverage headwinds if operating performance does not improve in a sustained way. Investors should closely monitor debt maturities, cash flow from operations, and the company’s ability to fund ongoing capex without excessive reliance on external financing.

05/14/26 10:23 AM ETAI Generated. May Contain Errors.

Suburban Propane Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Suburban Propane Partners' financial year ends in September. Their financial year 2025 ended on September 27, 2025.

Suburban Propane Partners' net income appears to be on an upward trend, with a most recent value of $106.57 million in 2025, rising from $84.35 million in 2015. The previous period was $74.17 million in 2024. Check out Suburban Propane Partners' forecast to explore projected trends and price targets.

Suburban Propane Partners' total operating income in 2025 was $206.31 million, based on the following breakdown:

Total Gross Profit: $868.81 million
Total Operating Expenses: $662.50 million

Over the last 10 years, Suburban Propane Partners' total revenue changed from $1.42 billion in 2015 to $1.43 billion in 2025, a change of 1.1%.

Suburban Propane Partners' total liabilities were at $1.70 billion at the end of 2025, a 1.6% decrease from 2024, and a 6.9% increase since 2015.

In the past 10 years, Suburban Propane Partners' cash and equivalents has ranged from $405 thousand in 2025 to $152.34 million in 2015, and is currently $405 thousand as of their latest financial filing in 2025.

Over the last 10 years, Suburban Propane Partners' book value per share changed from 14.84 in 2015 to 9.14 in 2025, a change of -38.4%.

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Financial statements for NYSE:SPH last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Suburban Propane Partners (SPH) Financials

Financials Breakdown Chart

Key Financial Trends

Suburban Propane Partners Financials - Frequently Asked Questions

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Suburban Propane Partners (SPH) Financials

Annual Income Statements for Suburban Propane Partners

Quarterly Income Statements for Suburban Propane Partners

Annual Cash Flow Statements for Suburban Propane Partners

Quarterly Cash Flow Statements for Suburban Propane Partners

Annual Balance Sheets for Suburban Propane Partners

Quarterly Balance Sheets for Suburban Propane Partners

Annual Metrics And Ratios for Suburban Propane Partners

Quarterly Metrics And Ratios for Suburban Propane Partners

Financials Breakdown Chart

Key Financial Trends

Suburban Propane Partners Financials - Frequently Asked Questions

When does Suburban Propane Partners' fiscal year end?

How has Suburban Propane Partners' net income changed over the last 10 years?

What is Suburban Propane Partners' operating income?

How has Suburban Propane Partners' revenue changed over the last 10 years?

How much debt does Suburban Propane Partners have?

How much cash does Suburban Propane Partners have?

How has Suburban Propane Partners' book value per share changed over the last 10 years?

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