Spire Inc
Research Spire Inc (SR) on Bullrun: valuation model: 35.9% undervalued, market cap USD 4.92B, P/E 9.3, dividend yield 4.0%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerSR
- ExchangeNYSE
- CountryUnited States
- SectorUtilities
- IndustryUtilities-Regulated Gas
- CurrencyUSD
- Valuation signal35.9% undervalued
- Market capUSD 4.92B
- P/E9.3
- Dividend yield4.0%
- Financial periodQ2 2026
- RevenueUSD 420.20M
- Net incomeUSD 211.20M
- Free cash flow-USD 91.20M
- Gross margin40.6%
Valuation Snapshot
Bullrun's latest valuation model marks Spire Inc as 35.9% undervalued; latest market cap is USD 4.92B; P/E is 9.3; dividend yield is 4.0%.
Peer valuation comparison
Latest P/E is 9.27x versus a Utilities sector median of 17.14x (45.9% below).
Latest dividend yield is 3.96% versus a Utilities sector median of 3.61% (9.7% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 2.48B | USD 271.70M | -USD 344.40M | 58.8% | 4.37 | USD 5.70M | USD 3.86B | USD 3.39B |
| FY2024 | USD 2.59B | USD 250.90M | USD 51.10M | 52.5% | 4.19 | USD 4.50M | USD 3.75B | USD 3.23B |
| FY2023 | USD 2.67B | USD 217.50M | -USD 222.30M | 47.8% | 3.85 | USD 5.60M | USD 3.71B | USD 2.92B |
| FY2022 | USD 2.20B | USD 220.80M | -USD 497.20M | n/a | 3.95 | USD 6.50M | USD 3.24B | USD 2.82B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 4.92B | 9.3 | 3.9% | 3.27 |
| 2025 | 2025-12-31 | USD 4.89B | 17.9 | 3.9% | 3.2 |
| 2024 | 2024-12-31 | USD 3.95B | 16.4 | 4.5% | 3.07 |
| 2023 | 2023-12-29 | USD 3.32B | 16.2 | 4.7% | 2.92 |
| 2022 | 2022-12-30 | USD 3.62B | 17.3 | 4.1% | 2.79 |
| 2021 | 2021-12-31 | USD 3.37B | 15.1 | 4.0% | 2.64 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 3.27 USD, yield 4.0%.
| Year | Dividends/share |
|---|---|
| FY2025 | 3.14 USD |
| FY2024 | 3.02 USD |
| FY2023 | 2.88 USD |
| FY2022 | 2.74 USD |
About Spire Inc
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.
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Frequently asked questions
Is Spire Inc overvalued or undervalued?
Bullrun's valuation model currently marks Spire Inc as 35.9% undervalued.
What is Spire Inc's market cap?
Spire Inc's market capitalization is USD 4.92B.
What is Spire Inc's P/E ratio?
Spire Inc's price-to-earnings (P/E) ratio is 9.3.
Does Spire Inc pay a dividend?
Spire Inc has a dividend yield of 4.0%.
What does Spire Inc do?
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas. In addition, the company engages in the operation of propane through its propane pipeline, risk management, and other activities. Spire Inc.