SR Financials Spire Inc

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, 10:16 UTC Overview →

Growth & profitability

Revenue has grown 5.9% per year over the past 5 years.
Net income has grown faster than revenue (25.1% vs 5.9% per year).
Operating margin has expanded, at 21.2% in the latest year.

Financial health

Total debt ($5.2B) exceeds cash ($6M); net debt is $5.2B.
Total debt has grown faster than revenue (39.6% vs 5.9% per year).
Operating income covered interest expense 2.6× in the latest year, up from 2.0× 5 years ago.
Total debt is 6.3× EBITDA.

Shareholder returns

Dividends have been paid for 9 consecutive years, consuming 67.1% of earnings.
The dividend has grown 7.3% per year over the past 5 years.

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	$2.5B	$272M	58.8%	21.2%	8.0%	2.3%	-$344M	$5.2B	$6M
2024	$2.6B	$251M	52.5%	18.8%	7.8%	2.3%	$51M	$4.7B	$5M
2023	$2.7B	$218M	47.8%	15.7%	7.5%	2.1%	-$222M	$4.7B	$6M
2022	$2.2B	$221M	0.0%	18.6%	7.8%	2.2%	-$497M	$4.3B	$7M
2021	$2.2B	$272M	0.0%	20.1%	10.2%	2.9%	-$375M	$1.6B	$4M
2020	$1.9B	$89M	0.0%	11.1%	3.5%	1.1%	-$169M	$975M	$4M
2019	$2.0B	$185M	0.0%	15.5%	7.3%	2.4%	-$372M	$975M	$6M
2018	—	$214M	—	—	9.5%	3.1%	-$43M	$2.6B	$4M
2017	—	$162M	—	—	8.1%	2.5%	-$150M	$2.5B	$7M
2016	—	$144M	—	—	8.2%	2.4%	$35M	$2.5B	$5M
2015	—	$137M	—	—	8.7%	2.6%	$33M	$2.0B	$14M
2014	—	$85M	—	—	5.6%	1.7%	-$48M	$2.1B	$16M
2013	—	$53M	—	—	5.0%	1.7%	$33M	$987M	$53M
2012	—	$63M	—	—	10.4%	3.3%	$19M	$405M	$28M
2011	—	$64M	—	—	11.1%	3.6%	$100M	$410M	$43M

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
Mar '26	—	$282M	—	—	8.3%	1.9%	—	$7.7B	$50M
Dec '25	$762M	$95M	55.1%	22.8%	2.8%	0.8%	-$122M	$4.9B	$4M
Sep '25	$334M	-$40M	0.0%	-0.1%	-1.2%	-0.3%	-$228M	$5.2B	$6M
Jun '25	$422M	$21M	0.0%	16.4%	0.6%	0.2%	-$91M	$4.5B	$13M
Mar '25	$1.1B	$209M	0.0%	26.4%	6.0%	1.8%	$154M	$4.4B	$15M
Dec '24	$669M	$81M	55.6%	22.2%	2.5%	0.7%	-$180M	$4.9B	$12M
Sep '24	$294M	-$26M	0.0%	6.7%	-0.8%	-0.2%	-$147M	$4.7B	$5M
Jun '24	$414M	-$13M	0.0%	7.4%	-0.4%	-0.1%	$48M	$4.2B	$7M
Mar '24	$1.1B	$204M	0.0%	26.5%	6.0%	1.9%	$307M	$4.2B	$26M
Dec '23	$757M	$85M	0.0%	18.4%	2.8%	0.8%	-$157M	$4.3B	$5M
Sep '23	$310M	-$31M	0.0%	-1.3%	-1.1%	-0.3%	-$143M	$4.7B	$6M
Jun '23	$419M	-$22M	0.0%	2.9%	-0.7%	-0.2%	$49M	$4.1B	$5M
Mar '23	$1.1B	$179M	0.0%	23.2%	6.0%	1.8%	$198M	$4.3B	$7M
Dec '22	$814M	$91M	0.0%	18.5%	3.2%	0.9%	-$326M	$4.4B	$5M
Sep '22	$314M	$91M	0.0%	47.8%	3.2%	0.9%	-$299M	$4.3B	$7M
Jun '22	$448M	-$1M	0.0%	8.5%	-0.0%	-0.0%	-$77M	$3.9B	$16M
Mar '22	$881M	$174M	0.0%	27.8%	6.1%	1.8%	$255M	$3.8B	$8M
Dec '21	$555M	$56M	0.0%	17.2%	2.1%	0.6%	-$376M	$4.1B	$8M
Sep '21	$290M	$56M	0.0%	32.8%	2.1%	0.6%	-$133M	$1.6B	$4M
Jun '21	$328M	$5M	0.0%	10.1%	0.2%	0.1%	-$98M	$1.4B	$24M

Valuation over time

How the market has priced SR 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 18.8× (Mar '23) to 19.2× (Nov '26).
The price-to-sales ratio has risen from 1.9× (Mar '23) to 2.1× (Nov '26).
The dividend yield has risen from 3.4% (Mar '23) to 3.5% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is SR growing its revenue and profit?

Over the past 5 years, Spire Inc's revenue has grown 5.9% per year, and net income grown 25.1% per year. These are computed facts, not advice.

How much debt does SR have?

As of FY2025, Spire Inc reported $5.2B of total debt against $6M of cash; operating income covered interest expense 2.6×.

What is SR's profit margin?

In FY2025, gross margin was 58.8%, operating margin 21.2%, and net margin 11.0%.

What is SR's P/E ratio?

Spire Inc's P/E (TTM) is 14.53 as of the 2026-11-03 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 SR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 19.2× 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.