Is the business good?
How good a business is SR?
Spire Inc. earns 3.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
3.9%
Return on invested capital · cost of capital 9.0% · 5.1 points below what the capital costs: growth destroys value
- Operating margin
- 22%
Operating margin · Utilities - Regulated Gas median 22% · 12 months to Q2 2026
- Cash conversion
- −0.62×
Cash conversion · −0.49× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +1.2%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 20% |
| FY2022 | 19% |
| FY2023 | 16% |
| FY2024 | 19% |
| FY2025 | 21% |
Details›
- Operating margin12 months to Q2 2026
- 22%
- Net margin12 months to Q2 2026
- 14%
- Free cash flow margin
- −8.8%
- Revenue, trailing twelve months
- $2.54B
- Free cash flow, trailing twelve months
- −$223M
- Net income, trailing twelve months
- $358M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Utilities - Regulated Gas
Ranks #2 of 13 by Smart Score