SPHSuburban Propane Partners, L.P.
Is it safe?
Strong, no red flags: clean books, quality strong, and steady price behavior.
Reported earnings show no manipulation flags Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
High fundamental quality Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Insiders were net sellers (-$71K, 90 days to Oct 8, 2026), selling is often routine.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -56% · now 16% below its 52-week high.
Unless marked, from SEC EDGAR, as of Sep 27, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can SPH take a bad year?
Suburban Propane Partners, L.P. carries $1.22B of net debt at 4.36× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q3 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.36×
Net debt / EBITDA · 4.51× a year ago · the load is coming down
- Interest cover
- 2.80×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 24%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ3 2026
- $1.22B
- Cash and short-term investments
- $5.0M
- Net debt
- $1.22B
- EBITDA, trailing twelve months
- $279M
- Operating profit, trailing twelve months
- $211M
- Debt / equity
- 1.72×
- Total debt / EBITDA
- 4.38×
- Annualised volatilitytwo years of daily moves
- 24%
- Worst drawdown on file
- −56%
- Below its 52-week high
- 16%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.