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Natural gas distribution company · MO · FY ends Sep · Revenue $2.61B · 21.97% margin · -$223M FCF
$81.41
$0.54 (-0.66%)
EOD Jul 17, 2026
21.16% operating margin is above average. ROIC at 5.58%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 4.5% YoY. The question is whether this is cyclical or a structural shift.
At 38x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 774% versus the prior year, cash generation momentum has weakened.
38.0x earnings. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.61B
▼ -4.5% YoY
Net Income (TTM)
$358M
▲ +8.3% YoY
Op. Margin
21.97%
▲ +2.3pp YoY
ROIC
5.60%
Cash Flow & Balance Sheet
FCF (TTM)
-$223M
▼ -774.0% YoY
Op. Cash Flow (TTM)
$616M
▼ -36.7% YoY
Net Debt
$7.67B
Cash & Equiv.
$50M
5Y CAGR: +5.9%
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At a P/E of 38.0, Spire (SR)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in .
On quality, Spire scores 27/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 3.9%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Spire scores 27 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 22.0% operating margin and a 5.6% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Spire pays a regular dividend of about $3.18 per share per year (typically in quarterly installments), a yield of roughly 3.9% at the current price. That is a payout ratio of about 52.6% of earnings, so the dividend is well covered. Spire has grown the dividend at roughly 8.1% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For SR's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh SR's valuation and scores 27/100 on quality (lower-quality). It also yields about 3.9%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.