SPH Financials SUBURBAN PROPANE PARTNERS LP

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:17 UTC Overview →

Growth & profitability

Revenue has grown 5.3% per year over the past 5 years.
Net income has grown faster than revenue (11.9% vs 5.3% per year).
Operating margin has expanded, at 14.4% in the latest year.
Free cash flow has declined 8.4% per year over the past 5 years.

Financial health

Total debt ($1.2B) exceeds cash ($405000); net debt is $1.2B.
Total debt has grown slower than revenue (0.0% vs 5.3% per year).
Operating income covered interest expense 2.7× in the latest year, up from 1.9× 5 years ago.
Total debt is 4.4× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.4B	$107M	60.6%	14.4%	—	4.6%	$114M	$1.2B	$405000
2024	$1.3B	$74M	60.7%	12.9%	—	3.3%	$101M	$1.2B	$3M
2023	$1.4B	$124M	58.7%	14.5%	—	5.5%	$180M	$1.2B	$4M
2022	$1.5B	$140M	52.6%	13.7%	—	6.6%	$176M	$1.1B	$4M
2021	$1.3B	$123M	62.3%	16.5%	—	6.0%	$197M	$1.1B	$6M
2020	$1.1B	$61M	65.4%	12.7%	—	3.0%	$177M	$1.2B	$3M
2019	$1.3B	$69M	58.8%	11.9%	—	3.4%	$192M	$1.2B	$2M
2018	$1.3B	$77M	55.9%	11.8%	—	3.6%	$178M	$1.3B	$5M
2017	$1.2B	$38M	59.9%	10.8%	—	1.7%	$136M	$1.3B	$3M
2016	$1.0B	$14M	65.4%	8.6%	—	0.6%	$119M	$1.2B	$37M
2015	—	$84M	—	—	—	3.4%	—	$1.2B	$152M
2014	—	$95M	—	—	—	3.6%	$195M	$1.2B	$93M
2013	—	$79M	—	—	—	2.9%	$186M	$1.2B	$107M
2012	—	$638000	—	—	—	0.0%	$93M	$1.4B	$134M
2011	—	$115M	—	—	—	12.0%	$111M	$348M	$150M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$261M	-$18M	61.3%	0.9%	—	-0.7%	$50M	$1.2B	$5M
Mar '26	$551M	$138M	62.4%	28.6%	—	5.7%	$92M	$1.3B	$4M
Dec '25	$370M	$46M	64.7%	18.3%	—	1.9%	-$67M	$1.3B	$1M
Sep '25	$211M	-$35M	64.7%	-7.9%	—	-1.5%	$28M	$1.2B	$405000
Jun '25	$260M	-$15M	61.7%	2.1%	—	-0.6%	$81M	$1.2B	$1M
Mar '25	$588M	$137M	58.8%	27.0%	—	5.7%	$21M	$1.3B	$4M
Dec '24	$373M	$19M	60.6%	15.8%	—	0.8%	-$15M	$1.3B	$4M
Sep '24	$209M	-$45M	59.4%	-10.8%	—	-2.0%	$18M	$1.2B	$3M
Jun '24	$255M	-$17M	62.9%	3.2%	—	-0.8%	$47M	$1.2B	$5M
Mar '24	$498M	$112M	61.8%	27.5%	—	4.8%	$61M	$1.2B	$4M
Dec '23	$366M	$24M	58.2%	13.3%	—	1.1%	-$24M	$1.2B	$6M
Sep '23	$227M	-$21M	71.1%	1.8%	—	-0.9%	$46M	$1.2B	$4M
Jun '23	$279M	-$5M	60.4%	5.3%	—	-0.2%	$53M	$1.2B	$10M
Mar '23	$527M	$104M	56.0%	23.9%	—	4.4%	$86M	$1.2B	$7M
Dec '22	$397M	$45M	54.0%	15.7%	—	2.1%	-$5M	$1.1B	$6M
Sep '22	$238M	-$54M	42.8%	-15.8%	—	-2.6%	$38M	$1.1B	$4M
Jun '22	$300M	-$3M	53.1%	4.9%	—	-0.1%	$65M	$1.1B	$7M
Mar '22	$588M	$175M	59.4%	32.6%	—	8.0%	$97M	$1.1B	$7M
Dec '21	$375M	$21M	47.7%	9.9%	—	1.0%	-$24M	$1.2B	$4M
Sep '21	$208M	-$16M	67.6%	0.2%	—	-0.8%	$38M	$1.1B	$6M

Valuation over time

How the market has priced SPH against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 7.3× (Mar '23) to 11.2× (Nov '26).
The price-to-sales ratio has risen from 0.7× (Mar '23) to 0.8× (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is SPH growing its revenue and profit?

Over the past 5 years, SUBURBAN PROPANE PARTNERS LP's revenue has grown 5.3% per year, and net income grown 11.9% per year. These are computed facts, not advice.

How much debt does SPH have?

As of FY2025, SUBURBAN PROPANE PARTNERS LP reported $1.2B of total debt against $405000 of cash; operating income covered interest expense 2.7×.

What is SPH's profit margin?

In FY2025, gross margin was 60.6%, operating margin 14.4%, and net margin 7.4%.

What is SPH's P/E ratio?

SUBURBAN PROPANE PARTNERS LP's P/E (TTM) is 9.10 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the SPH stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 11.2× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.