Spire Inc logo

Spire Inc(SR)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$77.39
09/23/2026
(24-hour delay)

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Upturn Advisory & Investor View for SR

09/23/2026: SR (1-star) is currently NOT-A-BUY. Pass it for now.

Spire Inc is a regulated natural gas utility and midstream company providing essential energy services to customers across Missouri, Alabama, and Mississippi. The stock is best suited for income-focused and low-risk investors who value the stability provided by its regulated monopoly business model and long history of dividend payments. While the company benefits from reliable cash flows and infrastructure-driven growth, it faces risks related to regulatory rate approvals, high capital expenditure needs, and the long-term trend toward building electrification. Key developments to monitor include future rate case outcomes and the progress of decarbonization initiatives like renewable natural gas, which are essential for maintaining a viable long-term business strategy.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorWeak fitSpire is a mature utility company focused on stability rather than aggressive capital appreciation.
Momentum investorWeak fitUtility stocks typically exhibit low volatility and are rarely the subject of rapid, momentum-driven price action.
Value investorMixed fitThe company may appeal to value investors looking for a stable business, though valuation must be assessed relative to interest rate environments.
Dividend investorStrong fitSpire is well-suited for income-focused portfolios due to its long history of reliable, regulated cash flows and dividend payments.
Low-risk investorStrong fitAs a regulated utility with essential service demand, the company offers a lower-risk profile relative to the broader market.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityLowAs a defensive utility, the stock price generally exhibits lower sensitivity to broad market fluctuations.
Valuation riskMediumUtility valuations are sensitive to interest rate shifts, which can impact the relative attractiveness of dividend yields.
Competition risk (fuel switching)MediumThe risk of residential and commercial consumers switching to electric heat pumps poses a long-term threat to gas demand.
Business qualityStrongThe regulated monopoly status and essential nature of gas service provide a high-quality, durable franchise.
Dividend incomeLowThe risk to the dividend is low due to the company's predictable and regulated cash flow model.
Execution riskMediumOperational safety and the ability to secure timely regulatory rate increases are critical for financial performance.

Price Behavior

Downtrend
PRICE PATH

Downtrend

The stock has experienced a sustained decline in price over recent periods.

Very Smooth
PRICE STABILITY

Very Smooth

The stock has followed a highly orderly price path with minimal short-term disruption.

Analysis of Past Performance

Type Stock
Historic Profit 17.48%
Avg. Invested days 48
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 2.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/23/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
SR receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak price momentum.

Company Fundamentals

★★★★★
SR has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, moderate earnings growth (+8.3%) and solid profitability (net margin 11.0%) are partially offset by soft cash generation (FCF margin -13.9%), slightly negative revenue growth (-4.5%), modest insider ownership of 2.33%.

Financial Health Rating

★★★★★
SR's financial health is supported by solid profitability, including gross margin of 78.1% and operating margin of 21.2%. Liquidity is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is SR's strongest growth driver at +8.3% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while revenue growth (-4.5%, slightly negative) and free-cash-flow growth (-774.0%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 93.1% and approximately 97.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 2.33% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 13.50%
Vanguard Portfolio Management, LLC 5.94%
State Street Corp 5.03%
Vanguard Capital Management, LLC 4.31%
American Century Companies Inc 3.75%

Unit Economics (Per $1K Revenue)

★★★★★
SR generates approximately $781 of gross profit, $212 of operating income, and $-139 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 18.01%

Quantitative Style Profile

★★★★★
SR has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 4.64B USD
Price to earnings Ratio 17.6
1Y Target Price 92.78
Price to earnings Ratio 17.6
1Y Target Price 92.78
Volume (30-day avg) 528.5K shares
Beta 0.56
52 Weeks Range 75.08 - 93.38
Updated Date 09/23/2026
52 Weeks Range 75.08 - 93.38
Updated Date 09/23/2026
Dividends yield (FY) 4.09%
Basic EPS (TTM) 4.46

How Company Makes Money

Business areaWhat it includesRetail investor read
Regulated Utility ServicesDelivery of natural gas to customers in Missouri, Alabama, and Mississippi.This is the primary driver of income, earned through state-approved rates based on infrastructure and operating costs.
Midstream OperationsNatural gas storage, transmission, and the Spire STL Pipeline.These assets support the core utility and provide additional, though often smaller, revenue streams through infrastructure fees.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 17.6
Forward PE 14.9
Enterprise Value 11.95B
Price to Sales(TTM) 1.74
Enterprise Value 11.95B
Price to Sales(TTM) 1.74
Enterprise Value to Revenue 4.48
Enterprise Value to EBITDA 12.44
Shares Outstanding 59.11M
Shares Floating 57.68M
Shares Outstanding 59.11M
Shares Floating 57.68M
Percent Insiders 2.33
Percent Institutions 93.05

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Spire Inc

Exchange NYSE
Headquarters Saint Louis, MO, United States
IPO Launch date 1987-11-05
President, CEO & Director Mr. Scott Edward Doyle
Sector Utilities
Industry Utilities - Regulated Gas
Full time employees 3497
Full time employees 3497

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. was formerly known as The Laclede Group, Inc. and changed its name to Spire Inc. in April 2016. Spire Inc. was founded in 1857 and is based in Saint Louis, Missouri.