Spire (SR) AI Stock Analysis

• Market Cap: $4.52B
• Dividend Yield: 4.04%
• Average Volume (3M): 518.56K
• Price to Earnings (P/E): 16.6
• Beta (1Y): 0.26
• Revenue Growth: -6.65%
• EPS Growth: 11.47%
• Country: US
• Employees: 3,475
• Sector: Utilities
• Sector Strength: 76
• Industry: Regulated Gas
• EPS (TTM): 0.01
• Shares Outstanding: 59,025,080
• 10 Day Avg. Volume: 381,348
• 30 Day Avg. Volume: 518,558
• 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: 2.09
• Enterprise Value/Revenue: 3.88
• Enterprise Value/Gross Profit: 9.78
• Enterprise Value/Ebitda: 11.24
• 1Y Price Target: $80.50
• Price Target Upside: 4.61% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 71 Outperform
• Price Target: $83.00 ▲(7.86% Upside)

Spire's overall stock score reflects a balanced view of its strong earnings growth and strategic acquisitions, offset by high leverage and cash flow challenges. The company's valuation and technical indicators support a stable outlook, while recent corporate events and a positive earnings call provide additional upside potential.

Positive Factors

Legislation Impact

The passage of SB4 legislation opens up potential future test year implementation, offering new opportunities for Spire.

Market Positioning

Gas Marketing earnings were higher because of strong positioning and market conditions.

Regulatory Environment

A positive regulatory announcement comes from the unanimous settlement filed in the Missouri rate case, helping drive cost recovery for Spire.

Negative Factors

Acquisition Risks

The acquisition of Piedmont Natural Gas introduces execution and financing risks without providing near-term benefits.

Debt Levels

The company's elevated debt levels and high interest rates are expected to pressure earnings.

Earnings Volatility

The marketing / midstream businesses also add earnings volatility and unregulated exposure without commanding a premium multiple.

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: 76.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 76.95 is above the 20-day moving average (MA) of 76.06, above the 50-day MA of 75.14, and above the 200-day MA of 72.39, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 55.52 is Neutral, neither overbought nor oversold. The STOCH value of 58.66 is Neutral, 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	77 Outperform	$4.69B	11.56	18.03%	3.85%	21.88%	71.35%
SR	71 Outperform	$4.52B	16.55	8.37%	4.04%	-6.65%	11.47%
NWN	71 Outperform	$1.68B	16.33	7.36%	4.72%	8.40%	17.90%
CPK	71 Outperform	$2.92B	22.19	9.25%	2.10%	19.02%	20.13%
OGS	68 Neutral	$4.52B	17.99	8.24%	3.49%	13.43%	6.49%
Sector *	67 Neutral	$17.66B	18.13	5.33%	3.62%	7.33%	12.21%
SWX	65 Neutral	$5.58B	28.86	5.41%	3.17%	-10.07%	5.98%

Spire Corporate Events

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.

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.