Spire (SR) AI Stock Analysis

• Market Cap: $5.20B
• Dividend Yield: 3.56%
• Average Volume (3M): 462.35K
• Price to Earnings (P/E): 19.0
• Beta (1Y): 0.26
• Revenue Growth: -6.65%
• EPS Growth: 11.47%
• Country: US
• Employees: 3,475
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Gas
• EPS (TTM): 0.01
• Shares Outstanding: 59,025,080
• 10 Day Avg. Volume: 409,389
• 30 Day Avg. Volume: 462,345
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.82
• Enterprise Value/Revenue: 3.88
• Enterprise Value/Gross Profit: 9.78
• Enterprise Value/Ebitda: 11.24
• 1Y Price Target: $91.43
• Price Target Upside: 3.77% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 72 Outperform
• Price Target: $96.00 ▲(8.95% Upside)

Spire's overall stock score is driven by strong earnings improvements and strategic expansions highlighted in the earnings call, coupled with bullish technical indicators. However, financial risks from high leverage and negative cash flow, along with overbought technical conditions, temper the score.

Positive Factors

Strategic Acquisitions

The acquisition of Piedmont Natural Gas expands Spire's regulated utility footprint, adding $900 million to its capital plan, enhancing long-term growth potential and market position.

Regulatory Success

The Missouri rate case success secures a $210 million annual revenue increase, strengthening Spire's financial performance and regulatory standing, supporting sustainable growth.

Leadership Change

The appointment of Steve Greenley as COO is expected to bring fresh strategic insights and operational oversight, potentially enhancing efficiency and growth in Spire's natural gas utilities.

Negative Factors

High Leverage

Spire's high leverage, with a debt-to-equity ratio of 1.41, poses financial risks by limiting flexibility and increasing vulnerability to interest rate fluctuations, impacting long-term stability.

Negative Cash Flow

Negative free cash flow indicates liquidity concerns, potentially hindering Spire's ability to invest in growth initiatives and manage debt, affecting financial health and operational resilience.

Revenue Volatility

Revenue volatility, as evidenced by past declines, could indicate challenges in maintaining consistent growth, affecting Spire's ability to predict and manage long-term financial performance.

Spire Business Overview & Revenue Model

Company Description

Spire (SR) is a leading provider of satellite-based data and analytics solutions, primarily serving sectors such as maritime, aviation, and weather forecasting. The company harnesses a constellation of small satellites to collect and analyze vast amounts of data related to vessel movements, aircraft tracking, and environmental conditions. Spire's core offerings include real-time tracking and monitoring services, predictive analytics, and data integration solutions that help businesses and governments make informed decisions based on reliable information.

How the Company Makes Money

Spire generates revenue through multiple streams, including subscription-based services, data sales, and partnerships with governmental and commercial entities. Its primary revenue model revolves around providing access to its comprehensive data sets and analytics tools, which clients can subscribe to for ongoing usage. In addition, Spire sells specific data products to businesses in sectors like shipping and aviation, which rely on accurate and timely information for operations. The company has also established significant partnerships with organizations in the maritime and aviation industries to enhance its service offerings, thereby expanding its customer base and increasing revenue opportunities through collaborative projects and shared data initiatives.

Spire Financial Statement Overview

Summary

Spire demonstrates solid financial health with strong cash flow generation and stable profitability metrics. However, revenue growth has been inconsistent, and a substantial portion of assets are financed by liabilities, which could pose risks.

Income Statement

Spire shows a stable gross profit margin, indicating strong control over cost of goods sold relative to revenue. However, revenue growth has been slightly inconsistent, with a decline in the latest TTM period compared to the previous annual figure. Net profit margin is healthy, though there was a slight decrease in comparison to the prior annual period.

Balance Sheet

The company's debt-to-equity ratio appears moderate, showing a balanced approach to leverage. Return on equity is satisfactory, reflecting decent profitability relative to shareholder investments. However, the equity ratio suggests a substantial portion of assets are financed by liabilities, which could pose risks if not managed carefully.

Cash Flow

Operating cash flow is strong relative to net income, indicating efficient cash generation from operations. Free cash flow growth has been positive in the TTM period, a significant improvement from previous years, highlighting better cash management and potential for reinvestment or debt reduction.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.44B	2.59B	2.67B	2.20B	2.24B	1.86B
Gross Profit	966.20M	982.30M	887.90M	825.00M	823.40M	700.70M
EBITDA	840.40M	789.10M	694.40M	636.80M	659.90M	403.80M
Net Income	285.60M	250.90M	217.50M	220.80M	271.70M	88.60M
Balance Sheet
Total Assets	11.40B	10.86B	10.31B	10.08B	9.36B	8.24B
Cash, Cash Equivalents and Short-Term Investments	13.10M	4.50M	5.60M	6.50M	4.30M	4.10M
Total Debt	4.90B	4.69B	4.67B	4.28B	3.67B	3.13B
Total Liabilities	7.91B	7.62B	7.40B	7.25B	6.70B	5.72B
Stockholders Equity	3.48B	3.23B	2.92B	2.82B	2.66B	2.52B
Cash Flow
Free Cash Flow	-745.20M	51.10M	-222.30M	-497.20M	-375.00M	-168.50M
Operating Cash Flow	665.80M	912.40M	440.20M	55.00M	249.80M	469.90M
Investing Cash Flow	-921.90M	-1.03B	-695.50M	-546.70M	-622.00M	-631.60M
Financing Cash Flow	270.50M	123.90M	260.60M	500.90M	379.40M	160.00M

Spire Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 88.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SR, the sentiment is Positive. The current price of 88.11 is above the 20-day moving average (MA) of 84.83, above the 50-day MA of 79.80, and above the 200-day MA of 74.78, indicating a bullish trend. The MACD of 2.56 indicates Negative momentum. The RSI at 73.22 is Negative, neither overbought nor oversold. The STOCH value of 88.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SR.

Spire Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NJR	―	$4.56B	11.10	18.03%	4.02%	21.88%	71.35%
OGS	―	$4.96B	19.73	8.24%	3.23%	13.43%	6.49%
SR	―	$5.20B	19.05	8.37%	3.56%	-6.65%	11.47%
NWN	―	$1.93B	18.62	7.36%	4.16%	8.40%	17.90%
SWX	―	$5.80B	30.00	5.41%	3.08%	-10.07%	5.98%
Sector *	―	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
UGI	―	$7.22B	17.71	8.75%	4.41%	-0.52%	-39.42%

Spire Corporate Events

Spire’s $200M Bond Purchase Agreement Finalized

On October 23, 2025, Spire Missouri Inc. entered into a Bond Purchase Agreement to issue and sell $200 million in First Mortgage Bonds to institutional purchasers. The proceeds from these bonds, which are due in 2030 and 2031, will be used for general corporate purposes, and the bonds are secured by a Mortgage and Deed of Trust. The agreement includes provisions for redemption and limitations on liens and payments, impacting the company’s financial strategy and stakeholder interests.

The most recent analyst rating on (SR) stock is a Buy with a $96.00 price target. To see the full list of analyst forecasts on Spire stock, see the SR Stock Forecast page.

Spire Appoints New COO Steve Greenley

On September 22, 2025, Spire Inc. announced the appointment of Steve Greenley as Executive Vice President and Chief Operating Officer, effective October 13, 2025. Greenley, who previously held senior leadership roles at Enbridge and CenterPoint Energy, will oversee Spire’s natural gas utilities and midstream operations. His extensive experience in utility operations and regulatory policy is expected to enhance Spire’s operational excellence and drive continued success. This strategic appointment fills the COO position left vacant since Scott Doyle’s promotion to President and CEO in April 2025.

The most recent analyst rating on (SR) stock is a Sell with a $76.00 price target. To see the full list of analyst forecasts on Spire stock, see the SR Stock Forecast page.

Spire Inc. Reports Strong Q3 Earnings Turnaround

Spire Inc. is a leading natural gas company in the United States, providing energy services to over 1.7 million homes and businesses across Alabama, Mississippi, and Missouri through its gas utilities and related businesses such as Spire Marketing and Spire Midstream.

Spire Inc’s Earnings Call: Positive Outlook Amid Challenges

Spire Inc’s recent earnings call conveyed a generally positive sentiment, highlighting significant achievements such as increased earnings, strategic acquisitions, and successful regulatory outcomes. However, the company also acknowledged ongoing challenges related to operational expenses and interest costs.

Spire Reports Q3 Profit, Plans Major Acquisition

Spire Inc. reported a net income of $20.9 million for the third quarter of fiscal 2025, a significant improvement from a loss of $12.6 million in the same period last year. The company also announced an agreement to acquire Piedmont Natural Gas Tennessee from Duke Energy for $2.48 billion, expected to close in early 2026, which is anticipated to enhance its regulated utility footprint and support long-term earnings growth.

The most recent analyst rating on (SR) stock is a Hold with a $73.00 price target. To see the full list of analyst forecasts on Spire stock, see the SR Stock Forecast page.

Spire Acquires Piedmont Natural Gas for $2.48 Billion

On July 27, 2025, Spire Inc. announced an agreement to acquire Piedmont Natural Gas’s Tennessee local distribution business from Duke Energy for $2.48 billion. This acquisition will expand Spire’s utility footprint and is expected to close in the first quarter of 2026, pending regulatory approvals. The transaction is anticipated to enhance Spire’s earnings per share and support long-term growth, while also increasing its customer base to nearly two million. Spire plans to finance the acquisition through a mix of debt, equity, and potential asset sales, and aims to integrate Piedmont’s operations into its existing business structure.

The most recent analyst rating on (SR) stock is a Hold with a $72.00 price target. To see the full list of analyst forecasts on Spire stock, see the SR Stock Forecast page.