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 28 h ago 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

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	FCF	Total debt	Cash
2025	$2.5B	$272M	58.8%	21.2%	-$344M	$5.2B	$6M
2024	$2.6B	$251M	52.5%	18.8%	$51M	$4.7B	$5M
2023	$2.7B	$218M	47.8%	15.7%	-$222M	$4.7B	$6M
2022	$2.2B	$221M	0.0%	18.6%	-$497M	$4.3B	$7M
2021	$2.2B	$272M	0.0%	20.1%	-$375M	$1.6B	$4M
2020	$1.9B	$89M	0.0%	11.1%	-$169M	$975M	$4M
2019	$2.0B	$185M	0.0%	15.5%	-$372M	$975M	$6M
2018	—	$214M	—	—	-$43M	$2.6B	$4M
2017	—	$162M	—	—	-$150M	$2.5B	$7M
2016	—	$144M	—	—	$35M	$2.5B	$5M
2015	—	$137M	—	—	$33M	$2.0B	$14M
2014	—	$85M	—	—	-$48M	$2.1B	$16M
2013	—	$53M	—	—	$33M	$987M	$53M
2012	—	$63M	—	—	$19M	$405M	$28M
2011	—	$64M	—	—	$100M	$410M	$43M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	—	$282M	—	—	—	$7.7B	$50M
Dec '25	$762M	$95M	55.1%	22.8%	-$122M	$4.9B	$4M
Sep '25	$334M	-$40M	0.0%	-0.1%	-$228M	$5.2B	$6M
Jun '25	$422M	$21M	0.0%	16.4%	-$91M	$4.5B	$13M
Mar '25	$1.1B	$209M	0.0%	26.4%	$154M	$4.4B	$15M
Dec '24	$669M	$81M	55.6%	22.2%	-$180M	$4.9B	$12M
Sep '24	$294M	-$26M	0.0%	6.7%	-$147M	$4.7B	$5M
Jun '24	$414M	-$13M	0.0%	7.4%	$48M	$4.2B	$7M
Mar '24	$1.1B	$204M	0.0%	26.5%	$307M	$4.2B	$26M
Dec '23	$757M	$85M	0.0%	18.4%	-$157M	$4.3B	$5M
Sep '23	$310M	-$31M	0.0%	-1.3%	-$143M	$4.7B	$6M
Jun '23	$419M	-$22M	0.0%	2.9%	$49M	$4.1B	$5M
Mar '23	$1.1B	$179M	0.0%	23.2%	$198M	$4.3B	$7M
Dec '22	$814M	$91M	0.0%	18.5%	-$326M	$4.4B	$5M
Sep '22	$314M	$91M	0.0%	47.8%	-$299M	$4.3B	$7M
Jun '22	$448M	-$1M	0.0%	8.5%	-$77M	$3.9B	$16M
Mar '22	$881M	$174M	0.0%	27.8%	$255M	$3.8B	$8M
Dec '21	$555M	$56M	0.0%	17.2%	-$376M	$4.1B	$8M
Sep '21	$290M	$56M	0.0%	32.8%	-$133M	$1.6B	$4M
Jun '21	$328M	$5M	0.0%	10.1%	-$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 fallen from 18.8× (Mar '23) to 17.3× (Jun '26).
The price-to-sales ratio has risen from 1.9× (Mar '23) to 1.9× (Jun '26).
The dividend yield has risen from 3.4% (Mar '23) to 3.9% (Jun '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?

As of Jun '26, Spire Inc traded at a price-to-earnings ratio of about 17.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.