SRSpire Inc.
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain and heavy debt (BB). Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
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.
Moderately leveraged. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -40% · now 17% below its 52-week high.
Unless marked, from SEC EDGAR, as of Sep 30, 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 SR take a bad year?
Spire Inc. carries $7.67B of net debt at 8.88× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 8.88×
Net debt / EBITDA · 5.69× a year ago · the load is going up
- Altman Z-score
- 0.66
Altman Z-score · distress zone, below 1.8
- Cash runway
- 0.2 years
Cash runway · burning $56M a quarter at the current rate
Details›
- Total debtQ2 2026
- $7.72B
- Cash and short-term investments
- $50M
- Net debt
- $7.67B
- EBITDA, trailing twelve months
- $864M
- Operating profit, trailing twelve months
- $546M
- Debt / equity
- 2.26×
- Total debt / EBITDA
- 8.93×
- Annualised volatilitytwo years of daily moves
- 20%
- Worst drawdown on file
- −40%
- Below its 52-week high
- 17%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.