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Spire (SR) Financials

Spire logo
$85.48 -1.10 (-1.26%)
Closing price 05/13/2026 03:59 PM Eastern
Extended Trading
$85.56 +0.08 (+0.09%)
As of 04:00 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Spire

Annual Income Statements for Spire

This table shows Spire's 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 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 137 144 161 214 179 74 257 206 202 236 257
Consolidated Net Income / (Loss)		 137 144 162 214 185 89 272 221 218 251 272
Net Income / (Loss) Continuing Operations		 137 144 162 214 185 89 272 221 218 251 272
Total Pre-Tax Income 		199 214 239 188 219 101 340 280 256 310 331
Total Operating Income		 273 282 341 294 302 206 450 408 419 488 524
Total Gross Profit		 561 542 647 463 638 701 823 825 888 982 1,029
Total Revenue		 1,976 1,537 1,741 1,965 1,952 1,855 2,236 2,199 2,666 2,593 2,476
Operating Revenue		 1,976 1,537 1,741 1,965 1,952 1,855 2,236 2,199 2,666 2,593 2,476
Total Cost of Revenue		 1,415 995 1,094 1,503 1,314 1,155 1,412 1,374 1,778 1,611 1,448
Operating Cost of Revenue		 1,273 870 956 1,349 1,314 1,155 1,412 1,374 1,778 1,611 1,448
Total Operating Expenses		 289 260 306 168 336 494 373 417 469 494 505
Depreciation Expense		 130 137 154 168 182 197 213 237 255 278 298
Other Operating Expenses / (Income)		 - - - - 154 148 160 180 215 216 207
Total Other Income / (Expense), net		 -73 -69 -102 -106 -83 -105 -110 -129 -162 -179 -193
Interest Expense		 75 77 89 98 104 106 107 120 186 201 204
Other Income / (Expense), net		 1.20 8.60 -13 -8.00 21 0.10 -3.40 -8.70 23 22 12
Income Tax Expense		 62 70 78 -27 35 12 69 59 39 59 60
Preferred Stock Dividends Declared		 - - 0.00 0.00 5.30 15 15 15 15 15 15
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - 0.40 0.50 0.40 0.10 0.40 0.30 0.30 0.30 0.30
Basic Earnings per Share		 $3.16 $3.26 $3.44 $4.35 $3.53 $1.44 $4.97 $3.96 $3.86 $4.20 $4.39
Weighted Average Basic Shares Outstanding		 43.20M 44.10M 46.90M 49.10M 50.70M 51.20M 51.60M 52M 52.50M 56.10M 58.50M
Diluted Earnings per Share		 $3.16 $3.24 $3.43 $4.33 $3.52 $1.44 $4.96 $3.95 $3.85 $4.19 $4.37
Weighted Average Diluted Shares Outstanding		 43.30M 44.30M 47M 49.30M 50.80M 51.30M 51.70M 52.10M 52.60M 56.30M 58.70M
Weighted Average Basic & Diluted Shares Outstanding		 45.35M 76.70M 79.80M 79M 52.97M 53.61M 53.69M - - 59.76M 61.04M

Quarterly Income Statements for Spire

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2025 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -25 -35 81 200 -16 -30 91 205 17 -43 272
Consolidated Net Income / (Loss)		 -22 -31 85 204 -13 -26 95 209 21 -40 282
Net Income / (Loss) Continuing Operations		 -22 -31 85 204 -13 -26 95 189 21 -40 218
Total Pre-Tax Income 		-28 -48 106 254 -16 -35 118 236 24 -56 270
Total Operating Income		 12 -3.90 139 299 31 20 174 278 69 -0.50 304
Total Gross Profit		 123 97 259 450 147 127 310 426 188 114 471
Total Revenue		 419 310 757 1,129 414 294 762 976 422 334 1,020
Operating Revenue		 419 310 757 1,129 414 294 762 976 422 334 1,020
Total Cost of Revenue		 295 213 498 679 268 167 453 550 234 220 549
Operating Cost of Revenue		 295 213 498 679 268 167 453 550 234 220 549
Total Operating Expenses		 111 101 120 151 116 107 136 148 119 114 172
Depreciation Expense		 64 66 67 69 71 71 81 72 76 77 85
Other Operating Expenses / (Income)		 47 35 53 82 44 36 55 76 43 38 83
Impairment Charge		 - - - - - - - 0.00 - - 3.90
Total Other Income / (Expense), net		 -40 -44 -33 -45 -46 -54 -55 -42 -45 -55 -29
Interest Expense		 47 48 51 52 49 50 60 45 50 59 63
Other Income / (Expense), net		 6.30 4.10 18 7.30 2.40 -4.80 5.30 3.00 4.60 3.40 33
Income Tax Expense		 -6.80 -17 21 49 -3.10 -8.60 23 46 3.00 -16 53
Net Income / (Loss) Discontinued Operations		 - - - - - - - 20 - - 65
Preferred Stock Dividends Declared		 3.70 3.70 3.70 3.70 3.70 3.70 3.70 3.70 3.70 3.70 9.50
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.10 -0.10 0.10 0.30 0.00 -0.10 0.10 0.30 0.00 -0.10 0.40
Basic Earnings per Share		 ($0.48) ($0.65) $1.52 $3.59 ($0.28) ($0.63) $1.55 $3.52 $0.29 ($0.76) $4.61
Weighted Average Basic Shares Outstanding		 52.50M 52.50M 53.50M 55.80M 57.70M 56.10M 59M 58.30M 58.90M 58.50M 59M
Diluted Earnings per Share		 ($0.48) ($0.66) $1.52 $3.58 ($0.28) ($0.63) $1.54 $3.51 $0.29 ($0.77) $4.60
Weighted Average Diluted Shares Outstanding		 52.50M 52.60M 53.60M 55.90M 57.70M 56.30M 59.20M 58.50M 59.10M 58.70M 59.20M
Weighted Average Basic & Diluted Shares Outstanding		 - 0.00 56.98M 59.75M 59.75M 59.76M 61.10M 2.00M 61.02M 61.04M 61.12M

Annual Cash Flow Statements for Spire

This table details how cash moves in and out of Spire's 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 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Net Change in Cash & Equivalents		 -2.70 -15 2.70 99 -8.30 -116 -140 423 4.90 -118 123
Net Cash From Operating Activities		 700 698 556 457 451 470 250 55 791 912 578
Net Cash From Continuing Operating Activities		 700 698 556 457 455 470 250 55 788 912 578
Net Income / (Loss) Continuing Operations		 290 303 333 214 185 89 272 221 401 251 272
Consolidated Net Income / (Loss)		 290 303 333 214 185 89 272 221 401 251 272
Depreciation Expense		 261 274 297 168 182 197 213 237 483 278 298
Changes in Operating Assets and Liabilities, net		 150 121 5.80 74 89 35 -235 -403 -96 383 8.10
Net Cash From Investing Activities		 -581 -905 -829 -532 -838 -632 -622 -547 -1,255 -1,027 -916
Net Cash From Continuing Investing Activities		 -581 -905 -659 -532 -838 -632 -622 -547 -1,255 -1,027 -916
Purchase of Property, Plant & Equipment		 -574 -585 -834 -499 -823 -638 -625 -552 -1,228 -861 -922
Acquisitions		 -8.20 -318 3.80 -28 -7.90 - - 0.00 -37 -176 0.00
Other Investing Activities, net		 1.20 -3.10 172 -4.20 -7.10 6.80 2.80 5.50 9.40 10 6.00
Net Cash From Financing Activities		 -122 192 276 89 372 160 379 501 469 124 345
Net Cash From Continuing Financing Activities		 -122 192 106 174 379 46 232 914 469 -3.60 461
Repayment of Debt		 -89 -162 -560 83 30 -341 -235 722 -667 -597 316
Payment of Dividends		 -185 -231 -183 -139 -142 -163 -170 -169 -275 -188 -234
Issuance of Debt		 149 447 702 75 230 510 629 300 1,330 495 303
Issuance of Common Equity		 3.10 137 147 155 20 41 1.00 52 81 287 76
Cash Interest Paid		 109 121 137 95 102 100 99 120 301 206 207
Cash Income Taxes Paid		 2.00 5.80 -1.30 -1.50 -2.70 2.90 1.50 1.80 2.20 0.90 2.90

Quarterly Cash Flow Statements for Spire

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025
Net Change in Cash & Equivalents		 -626 159 396 96 -465 379 -119 111 -203 -52 234
Net Cash From Operating Activities		 351 224 387 70 489 1,021 -668 81 373 129 -4.90
Net Cash From Continuing Operating Activities		 351 224 384 70 489 1,038 -685 81 373 129 -4.90
Net Income / (Loss) Continuing Operations		 179 -22 152 85 204 218 -256 81 209 21 -40
Consolidated Net Income / (Loss)		 179 -22 152 85 204 218 -256 81 209 21 -40
Depreciation Expense		 63 64 294 67 69 255 -113 72 74 76 77
Changes in Operating Assets and Liabilities, net		 109 182 -62 -82 216 566 -317 -73 90 33 -42
Net Cash From Investing Activities		 -189 -176 -739 -225 -359 -695 252 -260 -217 -219 -220
Net Cash From Continuing Investing Activities		 -189 -176 -739 -225 -359 -695 252 -260 -217 -219 -220
Purchase of Property, Plant & Equipment		 -153 -176 -744 -227 -183 -704 252 -261 -219 -221 -223
Other Investing Activities, net		 1.10 -0.30 5.50 1.30 1.50 7.50 -0.30 0.50 1.40 1.10 3.00
Net Cash From Financing Activities		 -160 -45 352 155 -110 -337 416 186 -151 92 218
Net Cash From Continuing Financing Activities		 -788 110 748 251 -596 53 298 290 -358 38 459
Repayment of Debt		 -1,286 151 221 84 -796 143 -212 202 25 32 268
Payment of Dividends		 -57 -45 -121 -44 -51 -90 -3.60 -48 -79 -56 -50
Issuance of Debt		 550 - 575 97 78 - 505 104 -347 61 241
Issuance of Common Equity		 3.20 0.40 77 113 174 0.40 -0.20 33 43 0.40 0.20
Cash Interest Paid		 44 38 183 44 59 152 -49 34 67 30 76
Cash Income Taxes Paid		 1.10 0.40 0.40 0.30 0.60 0.40 -0.40 0.20 1.00 1.00 0.70

Annual Balance Sheets for Spire

This table presents Spire's 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 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Total Assets		 5,290 6,064 6,547 6,844 7,619 8,241 9,356 10,084 10,314 10,861 11,575
Total Current Assets		 530 570 726 660 615 591 1,317 1,592 1,077 771 808
Cash & Equivalents		 14 5.20 7.40 4.40 5.80 4.10 4.30 6.50 5.60 4.50 5.70
Accounts Receivable		 216 225 278 304 295 267 323 644 311 177 224
Inventories, net		 215 202 226 210 197 192 276 422 280 217 248
Prepaid Expenses		 25 25 28 - 29 29 29 41 48 48 46
Other Current Assets		 62 115 190 73 89 103 373 478 433 166 101
Other Current Nonoperating Assets		 - - - - - - - - - - 183
Plant, Property, & Equipment, net		 2,941 3,301 3,717 4,145 4,830 5,112 5,527 5,862 6,407 7,199 7,321
Plant, Property & Equipment, gross		 4,235 4,794 5,278 5,653 6,147 6,766 7,225 7,665 8,210 8,779 9,330
Accumulated Depreciation		 1,307 1,506 1,613 1,683 1,795 2,086 2,169 2,295 2,431 2,536 2,577
Total Noncurrent Assets		 2,067 2,415 2,290 2,282 2,256 2,598 2,464 2,641 2,829 2,776 3,446
Long-Term Investments		 60 62 64 69 72 72 - 88 103 - 127
Goodwill		 946 1,165 1,172 1,172 1,172 1,172 1,172 1,172 1,172 1,172 1,172
Other Noncurrent Operating Assets		 813 967 868 1,042 931 1,295 1,258 1,371 1,555 1,604 1,702
Other Noncurrent Nonoperating Assets		 - - - - - - - - - - 446
Total Liabilities & Shareholders' Equity		 5,290 6,064 6,547 6,844 7,619 8,241 9,356 10,084 10,314 10,861 11,575
Total Liabilities		 3,717 4,296 4,935 4,145 5,595 6,152 6,939 7,252 7,380 7,577 8,180
Total Current Liabilities		 854 1,161 1,098 1,322 1,469 1,449 1,608 2,354 1,755 1,704 2,549
Short-Term Debt		 338 399 850 779 1,258 1,071 962 1,319 1,112 947 1,805
Accounts Payable		 152 217 264 290 309 257 426 617 253 237 156
Customer Deposits		 32 35 35 - 36 31 29 28 28 30 33
Current Deferred Revenue		 44 70 32 - 33 45 32 19 21 48 58
Current Deferred & Payable Income Tax Liabilities		 52 55 61 65 69 71 79 90 104 105 108
Current Employee Benefit Liabilities		 33 40 39 40 46 46 60 50 47 52 49
Other Current Liabilities		 173 313 156 139 242 364 271 230 191 243 216
Other Current Nonoperating Liabilities		 14 15 15 - - - - - - - 124
Total Noncurrent Liabilities		 2,863 3,135 3,458 2,823 3,604 4,266 5,080 4,899 5,624 5,916 5,631
Long-Term Debt		 1,772 1,821 1,995 1,900 2,083 2,424 2,939 2,959 3,554 3,704 3,369
Asset Retirement Reserve & Litigation Obligation		 279 337 454 676 737 884 1,141 939 1,050 1,115 1,156
Noncurrent Deferred & Payable Income Tax Liabilities		 482 607 708 - 451 511 612 675 744 808 887
Noncurrent Employee Benefit Liabilities		 253 304 237 180 265 309 236 163 137 147 75
Other Noncurrent Operating Liabilities		 77 66 64 67 69 138 152 163 140 141 137
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - - - 7.40
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - 0.00 - 3.40 3.40 - 13 17 - 6.10
Total Equity & Noncontrolling Interests		 1,574 1,768 1,991 2,255 2,543 2,522 2,658 3,952 3,203 3,233 4,562
Total Preferred & Common Equity		 1,574 1,768 1,991 2,255 2,543 2,522 2,658 2,819 2,917 3,233 3,389
Preferred Stock		 - - - - 242 242 242 242 242 242 242
Total Common Equity		 1,574 1,768 1,991 2,255 2,301 2,280 2,416 3,710 2,961 2,991 4,320
Common Stock		 1,574 1,768 1,991 1,533 1,557 1,601 1,570 2,757 1,956 1,960 3,213
Retained Earnings		 - - - 716 776 721 843 906 958 1,019 1,088
Accumulated Other Comprehensive Income / (Loss)		 - - - 6.40 -31 -41 3.60 47 48 12 19

Quarterly Balance Sheets for Spire

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

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q2 2026
Period end date 12/31/2022 3/31/2023 6/30/2023 12/31/2023 3/31/2024 6/30/2024 12/31/2025 3/31/2025 6/30/2025 3/31/2026
Total Assets		 10,328 10,049 10,038 10,632 10,711 10,711 11,882 11,347 11,396 14,670
Total Current Assets		 1,630 1,112 861 1,220 1,006 826 1,039 908 780 1,588
Cash & Equivalents		 4.80 6.90 5.30 4.80 26 7.40 4.10 15 13 50
Accounts Receivable		 472 665 397 566 522 232 615 374 376 418
Inventories, net		 329 204 243 277 215 230 260 165 225 182
Prepaid Expenses		 32 33 55 43 34 59 35 37 61 31
Other Current Assets		 414 203 161 329 210 297 126 116 105 183
Other Current Nonoperating Assets		 - - - - - - - 201 - 725
Plant, Property, & Equipment, net		 5,952 6,054 6,217 6,565 6,857 7,020 7,865 7,076 7,676 9,317
Plant, Property & Equipment, gross		 7,769 7,892 8,017 8,345 8,480 8,613 9,490 9,077 9,236 11,818
Accumulated Depreciation		 2,327 2,359 2,383 2,467 2,509 2,510 2,628 2,575 2,572 3,058
Total Noncurrent Assets		 2,661 2,883 2,960 2,847 2,849 2,865 2,978 3,363 2,941 3,765
Long-Term Investments		 - 131 103 106 105 112 125 117 125 127
Goodwill		 1,172 1,172 1,172 1,172 1,172 1,172 1,172 1,172 1,172 1,891
Other Noncurrent Operating Assets		 1,481 1,580 1,686 1,570 1,572 1,581 1,681 1,635 1,644 1,746
Other Noncurrent Nonoperating Assets		 - - - - - - - 439 - 0.00
Total Liabilities & Shareholders' Equity		 10,328 10,049 10,038 10,632 10,711 10,711 11,882 11,347 11,396 14,670
Total Liabilities		 7,191 7,044 7,087 7,566 7,311 7,369 8,443 7,829 7,911 11,245
Total Current Liabilities		 2,405 1,407 1,530 2,211 1,650 1,710 1,713 2,112 2,087 2,910
Short-Term Debt		 1,227 818 964 1,505 1,093 1,078 900 1,408 1,402 2,193
Accounts Payable		 507 232 196 294 193 205 310 161 240 185
Customer Deposits		 29 28 28 29 29 30 34 32 33 38
Current Deferred Revenue		 17 6.80 7.60 25 6.10 17 49 16 29 11
Current Deferred & Payable Income Tax Liabilities		 58 80 89 65 83 91 64 80 92 84
Current Employee Benefit Liabilities		 31 39 36 26 40 42 30 37 40 38
Other Current Liabilities		 280 203 210 267 206 248 328 199 251 225
Other Current Nonoperating Liabilities		 - - - - - - - 179 - 135
Total Noncurrent Liabilities		 5,043 5,637 5,557 5,356 5,661 5,659 6,730 5,716 5,824 8,335
Long-Term Debt		 3,156 3,703 3,553 3,248 3,421 3,422 4,449 3,349 3,498 5,762
Asset Retirement Reserve & Litigation Obligation		 871 892 966 1,071 1,147 1,144 1,177 1,224 1,181 1,397
Noncurrent Deferred & Payable Income Tax Liabilities		 699 738 736 761 817 820 914 891 900 985
Noncurrent Employee Benefit Liabilities		 159 159 155 136 130 129 48 111 105 49
Other Noncurrent Operating Liabilities		 157 146 147 141 145 145 142 135 140 143
Other Noncurrent Nonoperating Liabilities		 - - - - - - - 7.90 - 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 19 18 15 10 8.60 5.90 9.30 5.20 7.20
Total Equity & Noncontrolling Interests		 2,864 4,093 4,036 4,191 4,525 4,468 4,605 4,687 4,652 4,588
Total Preferred & Common Equity		 2,864 2,987 2,933 3,051 3,390 3,333 3,433 3,509 3,480 3,418
Preferred Stock		 242 242 242 242 242 242 242 242 242 0.00
Total Common Equity		 2,622 3,851 3,794 3,949 4,283 4,226 4,363 4,445 4,410 4,588
Common Stock		 1,624 2,735 2,734 2,922 3,092 3,094 3,213 3,215 3,210 3,213
Retained Earnings		 953 1,090 1,028 997 1,155 1,093 1,128 1,208 1,180 1,350
Accumulated Other Comprehensive Income / (Loss)		 45 26 31 29 36 39 22 23 21 25

Annual Metrics And Ratios for Spire

This table displays calculated financial ratios and metrics derived from Spire's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 9/30/2015 9/30/2016 9/30/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 21.45% -22.22% 13.23% 12.89% -0.64% -4.97% 20.49% 0.00% 21.28% -2.75% -4.50%
EBITDA Growth		 116.88% 5.69% 10.73% -27.33% 11.16% -20.07% 63.42% 0.00% 45.23% -14.67% 5.65%
EBIT Growth		 67.81% 6.28% 12.86% -12.85% 13.07% -36.17% 116.37% 0.00% 10.64% 15.54% 4.86%
NOPAT Growth		 55.59% 1.67% 20.90% 45.73% -24.11% -28.91% 98.58% 0.00% 10.24% 11.40% 8.54%
Net Income Growth		 61.82% 5.33% 12.07% 32.55% -13.82% -52.00% 206.66% 0.00% -1.49% 15.36% 8.29%
EPS Growth		 34.47% 2.53% 5.86% 26.24% -18.71% -59.09% 244.44% 0.00% -2.53% 8.83% 4.30%
Operating Cash Flow Growth		 471.29% -0.39% -20.38% -17.80% -1.25% 4.21% -46.84% 0.00% 1,338.55% 15.32% -36.65%
Free Cash Flow Firm Growth		 57.49% 81.67% -131.26% -157.92% 169.44% -105.34% -19.10% 0.00% 0.00% 3,121.18% -251.25%
Invested Capital Growth		 21.11% 7.20% 10.50% 18.92% -2.16% 3.74% 6.88% 0.00% 5.09% 2.19% 10.19%
Revenue Q/Q Growth		 -0.91% 5.14% -27.68% 46.77% -0.69% 1.44% 1.74% 0.00% 0.00% 0.00% 1.65%
EBITDA Q/Q Growth		 76.95% 2.84% -64.40% -54.39% -43.53% 6.43% 3.84% 0.00% 0.00% 0.00% 26.95%
EBIT Q/Q Growth		 0.29% 2.47% -71.33% -22.76% -51.01% 11.14% 4.00% 0.00% 0.00% 0.00% -2.21%
NOPAT Q/Q Growth		 -1.42% 0.61% -22.21% 9.57% -5.96% 8.59% 5.65% 0.00% 0.00% 0.00% -2.50%
Net Income Q/Q Growth		 -2.70% 3.22% -30.70% 38.82% -4.35% 19.73% 3.74% 0.00% 0.00% 0.00% -4.87%
EPS Q/Q Growth		 7.85% 1.25% 0.59% -5.25% -3.83% 24.14% 4.20% 0.00% 0.00% 0.00% -3.10%
Operating Cash Flow Q/Q Growth		 15,326.09% 0.97% -42.14% -50.14% 648.54% 1.25% 5.49% 0.00% 0.00% 0.00% 778.40%
Free Cash Flow Firm Q/Q Growth		 78.45% -108.14% 95.62% -112.03% 101.85% -100.20% 81.11% 0.00% 0.00% 0.00% -316.46%
Invested Capital Q/Q Growth		 -15.84% 12.52% -47.35% 19.24% -65.23% 1.53% 0.02% 0.00% 0.00% -0.87% 2.28%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 28.40% 35.28% 37.15% 23.54% 32.68% 37.77% 36.83% 37.53% 33.30% 37.88% 41.54%
EBITDA Margin		 27.04% 36.74% 35.93% 23.13% 25.88% 21.76% 29.52% 28.97% 34.68% 30.43% 33.67%
Operating Margin		 13.79% 18.36% 19.58% 14.97% 15.48% 11.12% 20.14% 18.57% 15.70% 18.83% 21.16%
EBIT Margin		 13.85% 18.92% 18.86% 14.56% 16.57% 11.13% 19.99% 18.17% 16.58% 19.70% 21.62%
Profit (Net Income) Margin		 6.93% 9.38% 9.28% 10.90% 9.46% 4.78% 12.15% 10.04% 8.16% 9.68% 10.97%
Tax Burden Percent		 68.76% 67.48% 67.56% 114.12% 84.25% 87.72% 79.86% 78.94% 84.86% 81.04% 81.99%
Interest Burden Percent		 72.74% 73.46% 72.86% 65.61% 67.73% 48.91% 76.14% 70.01% 57.99% 60.62% 61.89%
Effective Tax Rate		 31.24% 32.52% 32.44% -14.12% 15.75% 12.28% 20.14% 21.06% 15.14% 18.96% 18.01%
Return on Invested Capital (ROIC)		 5.27% 4.72% 5.24% 6.64% 4.69% 3.31% 6.24% 4.52% 4.86% 5.22% 5.34%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.76% 2.76% 2.51% 2.50% 2.38% 0.16% 3.47% 2.29% 1.74% 1.89% 1.92%
Return on Net Nonoperating Assets (RNNOA)		 3.62% 3.91% 3.36% 3.44% 3.00% 0.18% 4.24% 4.05% 2.13% 2.55% 2.57%
Return on Equity (ROE)		 8.88% 8.63% 8.60% 10.09% 7.69% 3.49% 10.48% 8.57% 6.99% 7.78% 7.91%
Cash Return on Invested Capital (CROIC)		 -13.83% -2.23% -4.74% -10.64% 6.87% -0.36% -0.41% 0.00% -0.10% 3.06% -4.36%
Operating Return on Assets (OROA)		 5.28% 5.12% 5.21% 4.27% 4.47% 2.60% 5.08% 3.96% 4.33% 4.82% 4.77%
Return on Assets (ROA)		 2.64% 2.54% 2.56% 3.20% 2.55% 1.12% 3.09% 2.19% 2.13% 2.37% 2.42%
Return on Common Equity (ROCE)		 8.88% 8.63% 8.60% 10.09% 7.30% 3.16% 9.50% 8.57% 6.49% 7.17% 7.34%
Return on Equity Simple (ROE_SIMPLE)		 8.70% 8.16% 8.12% 9.50% 7.26% 3.51% 10.22% 7.83% 0.00% 7.76% 0.00%
Net Operating Profit after Tax (NOPAT)		 187 190 230 336 255 181 360 322 355 396 430
NOPAT Margin		 9.48% 12.39% 13.23% 17.08% 13.05% 9.76% 16.08% 14.66% 13.32% 15.26% 17.34%
Net Nonoperating Expense Percent (NNEP)		 2.50% 1.96% 2.73% 4.15% 2.32% 3.15% 2.77% 2.23% 3.12% 3.33% 3.42%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - 4.33% 3.01% 5.48% - 4.51% - 4.88%
Cost of Revenue to Revenue		 71.60% 64.72% 62.85% 76.46% 67.32% 62.23% 63.17% 62.47% 66.70% 62.12% 58.46%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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		 14.61% 16.92% 17.56% 8.57% 17.19% 26.64% 16.69% 18.96% 17.60% 19.05% 20.39%
Earnings before Interest and Taxes (EBIT)		 274 291 328 286 324 207 447 400 442 511 536
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 534 565 625 455 505 404 660 637 925 789 834
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.15 1.29 1.46 1.37 1.58 1.02 1.15 1.18 0.95 1.34 1.47
Price to Tangible Book Value (P/TBV)		 2.87 3.79 3.55 2.86 3.22 2.10 2.24 2.17 1.58 2.21 2.24
Price to Revenue (P/Rev)		 0.91 1.49 1.67 1.58 1.86 1.25 1.25 1.39 1.06 1.55 2.01
Price to Earnings (P/E)		 13.17 15.84 18.05 14.50 20.30 31.54 10.86 14.83 13.94 17.05 19.39
Dividend Yield		 4.63% 4.09% 3.63% 3.82% 3.45% 5.73% 5.01% 4.82% 5.57% 4.49% 3.85%
Earnings Yield		 7.59% 6.31% 5.54% 6.90% 4.93% 3.17% 9.20% 6.74% 7.18% 5.87% 5.16%
Enterprise Value to Invested Capital (EV/IC)		 0.99 1.06 1.23 1.04 1.33 1.08 1.16 0.99 1.02 1.16 1.22
Enterprise Value to Revenue (EV/Rev)		 1.94 2.89 3.27 2.90 3.66 3.23 3.10 3.20 2.86 3.44 4.14
Enterprise Value to EBITDA (EV/EBITDA)		 7.18 7.86 9.09 12.55 14.13 14.83 10.49 11.06 8.26 11.29 12.31
Enterprise Value to EBIT (EV/EBIT)		 14.03 15.25 17.31 19.94 22.07 29.00 15.50 17.62 17.28 17.45 19.17
Enterprise Value to NOPAT (EV/NOPAT)		 20.49 23.29 24.68 17.00 28.03 33.07 19.26 21.85 21.50 22.51 23.89
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.48 6.36 10.23 12.49 15.84 12.74 27.72 128.00 9.65 9.76 17.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 19.13 0.00 0.00 0.00 0.00 38.45 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.34 1.26 1.43 1.19 1.31 1.38 1.47 1.55 1.45 1.44 1.42
Long-Term Debt to Equity		 1.13 1.03 1.00 0.84 0.82 0.96 1.11 1.15 1.10 1.15 0.93
Financial Leverage		 1.31 1.42 1.34 1.38 1.26 1.16 1.22 1.77 1.23 1.35 1.34
Leverage Ratio		 3.36 3.40 3.35 3.15 3.01 3.13 3.39 3.91 2.84 3.28 3.27
Compound Leverage Factor		 2.45 2.50 2.44 2.07 2.04 1.53 2.58 2.74 1.65 1.99 2.02
Debt to Total Capital		 57.28% 55.66% 58.83% 54.29% 56.75% 58.04% 59.47% 60.80% 59.17% 59.00% 58.71%
Short-Term Debt to Total Capital		 9.18% 10.00% 17.58% 15.79% 21.37% 17.78% 14.66% 15.79% 14.10% 12.01% 20.48%
Long-Term Debt to Total Capital		 48.10% 45.66% 41.25% 38.51% 35.37% 40.26% 44.81% 45.01% 45.07% 46.99% 38.24%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 4.11% 4.02% 3.69% 0.00% 3.07% 3.07% 2.75%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.06% 0.06% 0.00% 0.00% 0.21% 0.00% 0.07%
Common Equity to Total Capital		 42.72% 44.34% 41.17% 45.71% 39.08% 37.88% 36.84% 39.20% 37.55% 37.93% 38.47%
Debt to EBITDA		 3.95 3.93 4.55 5.89 6.61 8.65 5.91 6.28 5.05 5.89 6.21
Net Debt to EBITDA		 3.81 3.81 4.43 5.73 6.46 8.47 5.91 6.26 4.93 5.89 6.05
Long-Term Debt to EBITDA		 3.31 3.22 3.19 4.18 4.12 6.00 4.45 4.65 3.84 4.69 4.04
Debt to NOPAT		 11.26 11.65 12.35 7.98 13.12 19.30 10.85 12.40 13.14 11.75 12.05
Net Debt to NOPAT		 10.87 11.30 12.04 7.77 12.81 18.88 10.84 12.38 12.83 11.74 11.73
Long-Term Debt to NOPAT		 9.45 9.56 8.66 5.66 8.18 13.39 8.17 9.18 10.00 9.36 7.84
Altman Z-Score		 0.76 0.61 0.72 0.90 0.79 0.53 0.73 0.70 0.68 0.74 0.68
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 5.11% 9.68% 9.40% 0.00% 7.15% 7.76% 7.13%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.62 0.49 0.66 0.50 0.42 0.41 0.82 0.68 0.61 0.45 0.32
Quick Ratio		 0.27 0.20 0.26 0.23 0.21 0.19 0.20 -0.01 0.18 0.11 0.13
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -492 -90 -208 -537 373 -20 -24 0.00 -7.67 232 -350
Operating Cash Flow to CapEx		 121.98% 119.37% 66.59% 91.43% 54.77% 73.61% 39.98% 9.96% 64.45% 105.93% 62.66%
Free Cash Flow to Firm to Interest Expense		 -6.59 -1.17 -2.34 -5.46 3.57 -0.19 -0.22 0.00 -0.04 1.15 -1.72
Operating Cash Flow to Interest Expense		 9.39 9.04 6.23 4.64 4.32 4.45 2.34 0.46 4.26 4.54 2.83
Operating Cash Flow Less CapEx to Interest Expense		 1.69 1.47 -3.13 -0.44 -3.57 -1.60 -3.52 -4.15 -2.35 0.25 -1.69
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.38 0.27 0.28 0.29 0.27 0.23 0.25 0.22 0.26 0.24 0.22
Accounts Receivable Turnover		 8.66 6.98 6.93 6.75 6.52 6.60 7.59 0.00 5.59 10.64 9.78
Inventory Turnover		 5.83 4.76 5.11 6.89 6.46 5.95 6.04 159.71 5.07 6.49 5.79
Fixed Asset Turnover		 0.69 0.49 0.50 0.50 0.44 0.37 0.42 0.38 0.43 0.38 0.33
Accounts Payable Turnover		 8.44 5.39 4.55 5.42 4.39 4.08 4.14 2.22 4.09 6.57 5.96
Days Sales Outstanding (DSO)		 42.17 52.26 52.69 54.03 55.99 55.27 48.10 0.00 65.33 34.30 37.31
Days Inventory Outstanding (DIO)		 62.63 76.62 71.41 52.97 56.50 61.34 60.47 2.29 72.02 56.28 63.00
Days Payable Outstanding (DPO)		 43.24 67.67 80.20 67.32 83.13 89.36 88.26 164.07 89.33 55.55 61.21
Cash Conversion Cycle (CCC)		 61.56 61.21 43.90 39.69 29.36 27.25 20.31 -161.79 48.02 35.03 39.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,896 4,176 4,615 5,488 5,370 5,571 5,954 7,129 7,492 7,656 8,436
Invested Capital Turnover		 0.56 0.38 0.40 0.39 0.36 0.34 0.39 0.31 0.36 0.34 0.31
Increase / (Decrease) in Invested Capital		 679 281 439 873 -119 201 383 0.00 363 164 780
Enterprise Value (EV)		 3,839 4,437 5,683 5,705 7,140 5,988 6,925 7,040 7,637 8,909 10,263
Market Capitalization		 1,803 2,285 2,910 3,099 3,632 2,324 2,787 3,051 2,821 4,020 4,975
Book Value per Share		 $34.72 $37.12 $39.62 $42.82 $43.57 $42.64 $45.01 $48.00 $54.23 $50.05 $55.56
Tangible Book Value per Share		 $13.85 $12.66 $16.31 $20.58 $21.39 $20.73 $23.19 $26.17 $32.78 $30.45 $36.36
Total Capital		 3,683 3,988 4,837 4,935 5,887 6,020 6,559 6,573 7,886 7,884 8,812
Total Debt		 2,110 2,219 2,845 2,679 3,341 3,494 3,901 3,996 4,666 4,651 5,174
Total Long-Term Debt		 1,772 1,821 1,995 1,900 2,083 2,424 2,939 2,959 3,554 3,704 3,369
Net Debt		 2,036 2,152 2,774 2,606 3,263 3,418 3,897 3,990 4,558 4,647 5,040
Capital Expenditures (CapEx)		 574 585 834 499 823 638 625 552 1,228 861 922
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.50 -198 470 113 398 208 666 269 428 9.90 58
Debt-free Net Working Capital (DFNWC)		 14 -193 478 117 404 212 670 276 434 14 64
Net Working Capital (NWC)		 -324 -592 -372 -662 -854 -859 -292 -762 -679 -933 -1,741
Net Nonoperating Expense (NNE)		 50 46 69 121 70 92 88 101 138 145 158
Net Nonoperating Obligations (NNO)		 2,322 2,408 2,624 3,233 2,823 3,045 3,296 4,552 4,272 4,423 4,797
Total Depreciation and Amortization (D&A)		 261 274 297 168 182 197 213 237 483 278 298
Debt-free, Cash-free Net Working Capital to Revenue		 0.03% -12.89% 27.02% 5.73% 20.40% 11.20% 29.78% 12.25% 16.05% 0.38% 2.34%
Debt-free Net Working Capital to Revenue		 0.72% -12.55% 27.45% 5.95% 20.69% 11.42% 29.98% 12.55% 16.26% 0.56% 2.57%
Net Working Capital to Revenue		 -16.38% -38.49% -21.39% -33.69% -43.76% -46.28% -13.05% -34.64% -25.45% -35.97% -70.30%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.16 $3.26 $3.44 $4.35 $3.53 $1.44 $4.97 $0.00 $0.00 $4.20 $4.39
Adjusted Weighted Average Basic Shares Outstanding		 43.20M 44.10M 46.90M 49.10M 50.70M 51.20M 51.60M 0.00 0.00 56.10M 58.50M
Adjusted Diluted Earnings per Share		 $3.16 $3.24 $3.43 $4.33 $3.52 $1.44 $4.96 $0.00 $0.00 $4.19 $4.37
Adjusted Weighted Average Diluted Shares Outstanding		 43.30M 44.30M 47M 49.30M 50.80M 51.30M 51.70M 0.00 0.00 56.30M 58.70M
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		 45.35M 47.65M 50.26M 52.67M 52.97M 53.61M 53.69M 0.00 0.00 59.76M 61.04M
Normalized Net Operating Profit after Tax (NOPAT)		 187 190 230 206 255 311 360 322 355 396 430
Normalized NOPAT Margin		 9.48% 12.39% 13.23% 10.48% 13.05% 16.78% 16.08% 14.66% 13.32% 15.26% 17.34%
Pre Tax Income Margin		 10.07% 13.90% 13.74% 9.55% 11.22% 5.44% 15.22% 12.72% 9.61% 11.94% 13.38%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.67 3.77 3.68 2.91 3.10 1.96 4.19 3.33 2.38 2.54 2.62
NOPAT to Interest Expense		 2.51 2.47 2.58 3.41 2.44 1.72 3.37 2.69 1.91 1.97 2.10
EBIT Less CapEx to Interest Expense		 -4.03 -3.80 -5.68 -2.17 -4.79 -4.09 -1.67 -1.27 -4.23 -1.74 -1.90
NOPAT Less CapEx to Interest Expense		 -5.19 -5.10 -6.78 -1.66 -5.45 -4.34 -2.49 -1.92 -4.70 -2.32 -2.41
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 134.92% 159.85% 113.18% 64.75% 77.14% 183.75% 62.57% 76.40% 126.21% 75.09% 85.94%
Augmented Payout Ratio		 134.92% 159.85% 113.18% 64.75% 77.14% 183.75% 62.57% 76.40% 126.21% 75.09% 85.94%

Quarterly Metrics And Ratios for Spire

This table displays calculated financial ratios and metrics derived from Spire's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q2 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 61,095,462.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 61,095,462.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.46
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% -7.05% 0.45% -1.05% -5.35% -11.56% -6.84% 1.88% 13.72% 4.47%
EBITDA Growth		 0.00% 0.00% 2.47% 13.61% 248.91% -133.20% -0.89% 2.21% -48.13% 181.35% 21.94%
EBIT Growth		 0.00% 0.00% 0.32% 14.44% 80.87% 7,400.00% -4.66% 1.14% 122.96% -80.67% 19.90%
NOPAT Growth		 0.00% 0.00% -8.02% 13.46% 155.83% 607.69% 6.86% 1.79% 181.59% -102.53% 9.42%
Net Income Growth		 0.00% 0.00% -6.48% 14.01% 41.67% 16.72% -4.47% 2.45% 265.87% -53.67% 34.83%
EPS Growth		 0.00% 0.00% -8.43% 7.51% 41.67% 4.55% -11.84% -1.96% 203.57% -22.22% 31.05%
Operating Cash Flow Growth		 0.00% 0.00% 140.98% 39.55% 355.44% -272.59% 15.86% -23.85% -87.36% 99.27% 0.00%
Free Cash Flow Firm Growth		 0.00% 0.00% -972.26% 0.00% 0.00% 0.00% 92.79% 28.39% -36.04% -419.75% -942.24%
Invested Capital Growth		 0.00% 0.00% 9.31% 5.37% 4.93% 2.19% 2.06% 4.58% 6.79% 10.19% 38.02%
Revenue Q/Q Growth		 -62.75% -25.83% 143.75% 49.15% -63.31% -29.05% 127.74% 57.12% -59.87% -20.81% 0.00%
EBITDA Q/Q Growth		 -74.96% 255.93% -23.91% 67.55% -23.11% -133.87% 327.15% 72.80% -60.98% -46.89% 0.00%
EBIT Q/Q Growth		 -93.15% -98.91% 78,250.00% 95.21% -89.18% -54.68% 896.00% 107.10% -76.15% -96.07% 0.00%
NOPAT Q/Q Growth		 -96.04% -132.50% 4,189.69% 115.37% -91.06% -35.50% 760.78% 105.16% -75.28% -100.58% 0.00%
Net Income Q/Q Growth		 -112.05% -43.98% 373.63% 140.07% -106.17% -105.56% 413.90% 157.44% -90.01% -290.43% 0.00%
EPS Q/Q Growth		 -114.41% -37.50% 330.30% 135.53% -107.82% -125.00% 312.70% 161.94% -91.74% -365.52% 0.00%
Operating Cash Flow Q/Q Growth		 -36.07% 72.66% -81.92% 599.14% 108.64% -165.43% 112.14% 359.56% -65.36% -103.80% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 71.30% -118.11% 56.00% 73.83% -185.10% -314.34% -68.11% 0.00%
Invested Capital Q/Q Growth		 -0.37% 1.79% 2.88% 0.99% -0.79% -0.87% 2.75% 3.49% 1.31% 2.28% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.44% 31.31% 34.22% 39.87% 35.38% 43.23% 40.32% 43.47% 44.58% 34.09% 46.19%
EBITDA Margin		 19.74% 94.72% 29.57% 33.21% 69.60% -33.22% 33.13% 36.44% 35.43% 23.77% 41.30%
Operating Margin		 2.87% -1.26% 18.40% 26.46% 7.41% 6.74% 22.24% 29.14% 16.40% -0.15% 29.75%
EBIT Margin		 4.37% 0.06% 20.71% 27.11% 7.99% 5.11% 22.33% 29.43% 17.49% 0.87% 33.02%
Profit (Net Income) Margin		 -5.16% -10.02% 11.25% 18.10% -3.04% -8.82% 12.15% 19.91% 4.95% -11.91% 27.67%
Tax Burden Percent		 76.06% 64.79% 80.21% 80.53% 80.25% 75.07% 80.18% 79.89% 87.45% 71.20% 104.40%
Interest Burden Percent		 -155.19% -24,000.00% 67.71% 82.94% -47.43% -230.00% 67.87% 84.68% 32.38% -1,927.59% 80.26%
Effective Tax Rate		 0.00% 0.00% 19.79% 19.47% 0.00% 0.00% 19.82% 20.11% 12.55% 0.00% 19.50%
Return on Invested Capital (ROIC)		 0.00% -0.31% 5.22% 7.34% 1.80% 1.62% 5.74% 7.10% 4.38% -0.03% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -0.98% 4.53% 6.23% 0.76% 0.70% 4.79% 6.04% 3.22% -0.89% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -1.30% 4.92% 4.70% 0.58% 0.94% 5.14% 4.38% 2.41% -1.19% 0.00%
Return on Equity (ROE)		 0.00% -1.61% 10.14% 12.05% 2.38% 2.56% 10.88% 11.48% 6.78% -1.22% 0.00%
Cash Return on Invested Capital (CROIC)		 0.00% -0.10% -4.22% 0.00% 0.00% 3.06% 3.15% 0.63% -1.05% -4.36% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.02% 5.16% 6.83% 2.01% 1.25% 5.11% 6.48% 3.86% 0.19% 0.00%
Return on Assets (ROA)		 0.00% -2.62% 2.80% 4.56% -0.77% -2.16% 2.78% 4.38% 1.09% -2.63% 0.00%
Return on Common Equity (ROCE)		 0.00% -1.49% 9.42% 11.33% 2.23% 2.36% 10.16% 10.85% 6.41% -1.14% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 6.94% 6.98% 0.00% 0.00% 7.47% 7.19% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 8.40 -2.73 112 240 21 14 119 245 61 -0.35 244
NOPAT Margin		 2.01% -0.88% 14.76% 21.31% 5.19% 4.72% 17.83% 23.28% 14.34% -0.10% 23.95%
Net Nonoperating Expense Percent (NNEP)		 0.91% 0.66% 0.69% 1.11% 1.04% 0.91% 0.94% 1.06% 1.16% 0.86% -0.84%
Return On Investment Capital (ROIC_SIMPLE)		 - -0.03% 1.25% 2.66% 0.24% - 1.46% 2.59% 0.63% 0.00% 1.95%
Cost of Revenue to Revenue		 70.56% 68.69% 65.78% 60.13% 64.62% 56.77% 59.68% 56.53% 55.42% 65.91% 53.81%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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		 26.57% 32.57% 15.82% 13.41% 27.96% 36.49% 18.08% 14.33% 28.18% 34.24% 16.81%
Earnings before Interest and Taxes (EBIT)		 18 0.20 157 306 33 15 149 309 74 2.90 337
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 83 294 224 375 288 -98 222 383 150 79 421
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.03 0.95 0.03 0.78 0.82 1.34 1.32 1.06 0.03 1.47 1.21
Price to Tangible Book Value (P/TBV)		 0.05 1.58 0.04 1.07 1.14 2.21 2.14 1.44 0.05 2.24 2.05
Price to Revenue (P/Rev)		 0.00 1.06 0.05 1.28 1.33 1.55 1.62 1.94 0.06 2.01 0.00
Price to Earnings (P/E)		 0.00 13.94 0.60 15.07 15.06 17.05 17.47 19.92 0.54 19.39 0.00
Dividend Yield		 4.71% 5.57% 4.90% 5.03% 5.13% 4.49% 4.50% 3.94% 4.26% 3.85% 3.56%
Earnings Yield		 0.00% 7.18% 165.52% 6.64% 6.64% 5.87% 5.72% 5.02% 185.40% 5.16% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.65 1.02 0.65 1.02 1.05 1.16 1.16 1.18 0.63 1.22 1.25
Enterprise Value to Revenue (EV/Rev)		 0.00 2.86 1.92 3.05 3.11 3.44 3.65 3.95 2.12 4.14 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 8.26 5.39 8.18 6.86 11.29 11.61 12.06 7.85 12.31 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 17.28 11.34 16.58 16.34 17.45 18.16 18.93 9.41 19.17 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 21.50 14.53 21.42 21.02 22.51 22.65 23.58 11.70 23.89 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 9.65 4.86 6.81 4.12 9.76 9.90 11.89 0.00 17.76 21.63
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 38.45 37.32 190.98 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.11 1.45 1.13 1.00 1.01 1.44 1.47 1.01 1.05 1.42 1.73
Long-Term Debt to Equity		 0.88 1.10 0.77 0.75 0.76 1.15 1.12 0.71 0.75 0.93 1.25
Financial Leverage		 0.82 1.33 1.09 0.75 0.77 1.35 1.07 0.73 0.75 1.34 0.97
Leverage Ratio		 2.48 2.84 2.96 2.40 2.43 3.28 2.92 2.39 2.42 3.27 2.80
Compound Leverage Factor		 -3.84 -681.39 2.01 1.99 -1.15 -7.55 1.98 2.02 0.78 -62.94 2.25
Debt to Total Capital		 52.71% 59.17% 53.05% 49.89% 50.13% 59.00% 59.47% 50.31% 51.27% 58.71% 63.39%
Short-Term Debt to Total Capital		 11.25% 14.10% 16.80% 12.08% 12.01% 12.01% 14.18% 14.89% 14.67% 20.48% 17.48%
Long-Term Debt to Total Capital		 41.46% 45.07% 36.26% 37.81% 38.13% 46.99% 45.29% 35.42% 36.60% 38.24% 45.91%
Preferred Equity to Total Capital		 2.82% 3.07% 2.70% 2.67% 2.70% 3.07% 2.96% 2.56% 2.53% 2.75% 0.00%
Noncontrolling Interests to Total Capital		 0.21% 0.21% 0.17% 0.11% 0.10% 0.00% 0.00% 0.10% 0.05% 0.07% 0.06%
Common Equity to Total Capital		 44.26% 37.55% 44.08% 47.33% 47.07% 37.93% 37.56% 47.03% 46.14% 38.47% 36.55%
Debt to EBITDA		 0.00 5.05 5.11 4.63 3.81 5.89 6.17 5.98 7.46 6.21 0.00
Net Debt to EBITDA		 0.00 4.93 4.99 4.50 3.71 5.89 6.15 5.81 7.25 6.05 0.00
Long-Term Debt to EBITDA		 0.00 3.84 3.49 3.51 2.90 4.69 4.70 4.21 5.33 4.04 0.00
Debt to NOPAT		 0.00 13.14 13.76 12.12 11.67 11.75 12.03 11.68 11.12 12.05 0.00
Net Debt to NOPAT		 0.00 12.83 13.44 11.77 11.36 11.74 12.01 11.36 10.81 11.73 0.00
Long-Term Debt to NOPAT		 0.00 10.00 9.41 9.19 8.88 9.36 9.16 8.23 7.94 7.84 0.00
Altman Z-Score		 0.00 0.54 0.32 0.69 0.58 0.59 0.60 0.69 0.25 0.53 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 7.15% 7.06% 5.93% 5.98% 7.76% 6.64% 5.46% 5.45% 7.13% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.56 0.61 0.55 0.61 0.48 0.45 0.50 0.43 0.37 0.32 0.55
Quick Ratio		 0.26 0.18 0.26 0.33 0.14 0.11 0.19 0.28 0.19 0.13 0.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 0.00 -545 -156 -341 -150 -39 -112 -464 -780 -2,679
Operating Cash Flow to CapEx		 127.75% 52.01% 30.91% 267.72% 145.08% 0.00% 31.12% 170.49% 58.55% -2.20% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -10.77 -3.00 -6.99 -3.03 -0.82 -2.36 -9.30 -13.27 -42.80
Operating Cash Flow to Interest Expense		 4.80 8.03 1.38 9.38 20.92 -13.50 1.69 7.86 2.59 -0.08 0.00
Operating Cash Flow Less CapEx to Interest Expense		 1.04 -7.41 -3.09 5.87 6.50 -8.41 -3.74 3.25 -1.83 -3.87 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.26 0.25 0.25 0.25 0.24 0.23 0.22 0.22 0.22 0.00
Accounts Receivable Turnover		 0.00 5.59 5.03 4.41 8.30 10.64 5.39 4.46 8.01 9.78 0.00
Inventory Turnover		 0.00 5.07 5.70 8.04 7.00 6.49 6.41 7.25 6.13 5.79 0.00
Fixed Asset Turnover		 0.00 0.43 0.42 0.40 0.39 0.38 0.36 0.34 0.33 0.33 0.00
Accounts Payable Turnover		 0.00 4.09 4.31 7.92 8.25 6.57 5.16 5.99 6.26 5.96 0.00
Days Sales Outstanding (DSO)		 0.00 65.33 72.58 82.82 44.00 34.30 67.69 81.83 45.57 37.31 0.00
Days Inventory Outstanding (DIO)		 0.00 72.02 64.04 45.40 52.11 56.28 56.98 50.34 59.56 63.00 0.00
Days Payable Outstanding (DPO)		 0.00 89.33 84.71 46.11 44.22 55.55 70.73 60.95 58.30 61.21 0.00
Cash Conversion Cycle (CCC)		 0.00 48.02 51.91 82.10 51.90 35.03 53.94 71.22 46.83 39.10 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 7,360 7,492 7,708 7,784 7,723 7,656 7,866 8,141 8,247 8,436 10,613
Invested Capital Turnover		 0.00 0.36 0.35 0.34 0.35 0.34 0.32 0.31 0.31 0.31 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.00 657 397 363 164 159 357 525 780 2,923
Enterprise Value (EV)		 4,790 7,637 5,018 7,977 8,105 8,909 9,139 9,596 5,155 10,263 13,317
Market Capitalization		 121 2,821 119 3,341 3,474 4,020 4,053 4,722 146 4,975 5,532
Book Value per Share		 $1,899.29 $54.23 $1,976.89 $75.16 $70.72 $50.05 $51.32 $73.67 $2,206.44 $55.56 $75.09
Tangible Book Value per Share		 $1,312.72 $32.78 $1,390.32 $54.60 $51.11 $30.45 $31.72 $54.25 $1,620.31 $36.36 $44.13
Total Capital		 8,571 7,886 8,958 9,049 8,976 7,884 8,165 9,453 9,558 8,812 12,550
Total Debt		 4,518 4,666 4,752 4,514 4,500 4,651 4,856 4,756 4,900 5,174 7,955
Total Long-Term Debt		 3,553 3,554 3,248 3,421 3,422 3,704 3,698 3,349 3,498 3,369 5,762
Net Debt		 4,410 4,558 4,642 4,384 4,381 4,647 4,844 4,623 4,762 5,040 7,778
Capital Expenditures (CapEx)		 176 744 227 183 704 -252 261 219 221 223 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 290 428 509 423 187 9.90 143 188 83 58 822
Debt-free Net Working Capital (DFNWC)		 295 434 514 448 194 14 155 203 96 64 871
Net Working Capital (NWC)		 -669 -679 -991 -645 -884 -933 -1,003 -1,205 -1,306 -1,741 -1,322
Net Nonoperating Expense (NNE)		 30 28 27 36 34 40 38 35 40 39 -38
Net Nonoperating Obligations (NNO)		 3,307 4,272 3,502 3,249 3,247 4,423 4,557 3,444 3,590 4,797 6,018
Total Depreciation and Amortization (D&A)		 64 294 67 69 255 -113 72 74 76 77 85
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 16.05% 19.51% 16.17% 7.15% 0.38% 5.72% 7.73% 3.39% 2.34% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 16.26% 19.70% 17.15% 7.43% 0.56% 6.18% 8.35% 3.92% 2.57% 0.00%
Net Working Capital to Revenue		 0.00% -25.45% -37.97% -24.66% -33.87% -35.97% -40.04% -49.61% -53.63% -70.30% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.65) $1.52 $3.59 ($0.28) ($0.63) $1.34 $3.52 $0.29 ($0.76) $4.61
Adjusted Weighted Average Basic Shares Outstanding		 0.00 52.50M 53.50M 55.80M 57.70M 56.10M 57.70M 58.30M 58.90M 58.50M 59M
Adjusted Diluted Earnings per Share		 $0.00 ($0.66) $1.52 $3.58 ($0.28) ($0.63) $1.34 $3.51 $0.29 ($0.77) $4.60
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 52.60M 53.60M 55.90M 57.70M 56.30M 57.90M 58.50M 59.10M 58.70M 59.20M
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		 0.00 0.00 56.98M 59.75M 59.75M 59.76M 60.34M 2.00M 61.02M 61.04M 61.12M
Normalized Net Operating Profit after Tax (NOPAT)		 8.40 -2.73 112 240 21 14 119 245 61 -0.35 247
Normalized NOPAT Margin		 2.01% -0.88% 14.76% 21.31% 5.19% 4.72% 17.83% 23.28% 14.34% -0.10% 24.26%
Pre Tax Income Margin		 -6.79% -15.46% 14.02% 22.48% -3.79% -11.74% 15.15% 24.92% 5.66% -16.73% 26.50%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.39 0.00 3.10 5.86 0.68 0.30 3.11 6.53 1.48 0.05 5.38
NOPAT to Interest Expense		 0.18 -0.06 2.21 4.61 0.44 0.28 2.49 5.16 1.21 -0.01 3.90
EBIT Less CapEx to Interest Expense		 -3.37 -15.44 -1.38 2.36 -13.74 5.39 -2.32 1.92 -2.94 -3.74 0.00
NOPAT Less CapEx to Interest Expense		 -3.58 -15.50 -2.27 1.10 -13.98 5.37 -2.94 0.55 -3.21 -3.79 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 126.21% 125.95% 109.84% 124.42% 75.09% 78.19% 87.82% 65.48% 85.94% 0.00%
Augmented Payout Ratio		 0.00% 126.21% 125.95% 109.84% 124.42% 75.09% 78.19% 87.82% 65.48% 85.94% 0.00%

Financials Breakdown Chart

Key Financial Trends

Here are the 10 most important takeaways from SPIRE MISSOURI INC (SR) quarterly statements, focusing on the last four years of data (roughly 2022–2025). Items are sorted with positives first, then neutral, then negatives.

  • Q4 2025 revenue rose to about $334.1 million, up from $293.8 million in Q4 2024 (roughly +13.7% YoY).
  • Several 2025 quarters produced positive net income attributable to common shareholders (Q1 2025: $91.2M; Q2 2025: $205.3M; Q3 2025: $17.2M), showing improving profitability in multiple periods.
  • Operating cash flow improved in Q3 2025 to $129.1 million, signaling stronger near-term cash generation.
  • Q4 2025 net financing activity was positive at about $217.7 million, supported by debt issuance of roughly $241.3 million, helping liquidity for the quarter.
  • Across 2025, total equity trended higher, with Total Common Equity around $4.41 billion by Q3 2025 (up from around $4.36 billion in Q2 2025), indicating ongoing capitalization and retained earnings.
  • Large capital expenditures persist in 2025 (PPE purchases typically in the $218–$261 million range per quarter), highlighting ongoing asset investment and growth initiatives.
  • Long-term debt remains substantial (roughly $3.3–$3.5 billion through 2025), contributing to leverage but enabling ongoing financing strategies.
  • Q4 2025 net income attributable to common shareholders declined to -$43.4 million, with earnings per share at -$0.76, signaling a quarterly profitability setback.
  • Gross margin compressed in Q4 2025 to about 34% (113.9M gross profit on 334.1M revenue) versus roughly 43% in Q4 2024, indicating renewed cost pressures.
  • Investing cash outflows remained large in 2025 (net cash from investing activities around -$219 million per quarter), contributing to cash outflow pressure despite operating gains.
05/14/26 07:51 AM ETAI Generated. May Contain Errors.

Spire Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Spire's fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Spire's net income appears to be on an upward trend, with a most recent value of $271.70 million in 2025, rising from $136.90 million in 2015. The previous period was $250.90 million in 2024. Check out Spire's forecast to explore projected trends and price targets.

Spire's total operating income in 2025 was $523.90 million, based on the following breakdown:
  • Total Gross Profit: $1.03 billion
  • Total Operating Expenses: $504.90 million

Over the last 10 years, Spire's total revenue changed from $1.98 billion in 2015 to $2.48 billion in 2025, a change of 25.3%.

Spire's total liabilities were at $8.18 billion at the end of 2025, a 7.9% increase from 2024, and a 120.1% increase since 2015.

In the past 10 years, Spire's cash and equivalents has ranged from $4.10 million in 2020 to $13.80 million in 2015, and is currently $5.70 million as of their latest financial filing in 2025.

Over the last 10 years, Spire's book value per share changed from 34.72 in 2015 to 55.56 in 2025, a change of 60.0%.


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Financial statements for NYSE:SR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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