Last 48 quarters of trend data · Utilities · Regulated Gas
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Spire Inc.'s quarterly P/E stands at 4.9x, down 11.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 21.1% YoY to 4.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 17.63 | 4.92 | 13.43 | — | 62.92 | 5.57 | 12.65 | — | — | 4.29 | 10.25 | — | — |
| — | -11.7% | +6.1% | — | — | +30.0% | +23.4% | — | — | -18.6% | -1.1% | — | — | |
| P/S Ratio | 1.84 | 1.31 | 1.61 | 3.60 | 2.56 | 1.09 | 1.47 | 3.30 | 2.12 | 0.76 | 1.10 | 2.39 | 1.99 |
| — | +20.7% | +9.4% | +8.9% | +20.8% | +43.2% | +32.9% | +38.1% | +6.3% | -7.4% | -0.7% | -8.3% | -8.2% | |
| P/B Ratio | 1.33 | 1.57 | 1.43 | 1.42 | 1.24 | 1.30 | 1.18 | 1.20 | 1.05 | 1.01 | 1.09 | 1.01 | 1.13 |
| — | +20.2% | +20.5% | +18.3% | +17.7% | +29.3% | +8.6% | +18.3% | -6.9% | -17.8% | -13.3% | -12.6% | -16.8% | |
| P/FCF | — | — | — | — | — | 7.43 | — | — | 18.29 | 6.56 | — | — | 17.10 |
| — | — | — | — | — | +13.2% | — | — | +7.0% | +40.7% | — | — | — | |
| EV / EBITDA | 11.91 | 4.83 | 10.04 | 33.04 | 15.87 | 6.13 | 9.97 | 23.76 | 19.58 | 5.39 | 9.81 | 31.13 | 25.70 |
| — | -21.1% | +0.8% | +39.0% | -18.9% | +13.8% | +1.6% | -23.7% | -23.8% | -15.2% | +0.9% | +48.4% | +29.3% | |
| EV / EBIT | 18.68 | 6.18 | 14.32 | 865.78 | 31.17 | 7.53 | 14.75 | 144.01 | 60.40 | 6.47 | 12.91 | 9634.94 | 107.14 |
| — | -17.9% | -2.9% | +501.2% | -48.4% | +16.3% | +14.3% | -98.5% | -43.6% | -15.6% | -2.3% | +14650.2% | +41.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Spire Inc.'s operating margin was 29.8% in Q2 2026, up 7.0 pp QoQ and up 0.6 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 17.2% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 12.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.1% | 37.9% | 29.9% | 57.3% | 44.6% | 43.5% | 40.3% | 43.2% | 35.4% | 39.9% | 34.2% | 31.3% | 29.4% |
| — | -12.8% | -25.8% | +32.5% | +26.0% | +9.0% | +17.8% | +38.0% | +20.2% | +10.6% | +6.0% | -16.0% | -7.4% | |
| Operating Margin | 21.2% | 29.8% | 22.8% | -0.1% | 16.4% | 29.1% | 22.2% | 6.7% | 7.4% | 26.5% | 18.4% | -1.3% | 2.9% |
| — | +2.1% | +2.4% | -102.2% | +121.2% | +10.1% | +20.9% | +636.4% | +158.6% | +14.2% | -0.3% | -113.2% | -66.1% | |
| Net Margin | 11.0% | 27.7% | 12.5% | -11.9% | 5.0% | 19.9% | 12.2% | -8.8% | -3.0% | 18.1% | 11.2% | -10.0% | -5.2% |
| — | +39.0% | +2.6% | -35.1% | +262.8% | +10.0% | +8.0% | +12.0% | +41.0% | +13.5% | +0.6% | -343.4% | -1551.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 2.8% | -1.2% | 0.6% | 6.1% | 2.5% | -0.8% | -0.4% | 6.3% | 2.8% | -1.1% | -0.7% |
| — | +34.3% | +12.2% | -46.8% | +259.7% | -3.0% | -12.6% | +25.5% | +48.4% | +3.8% | -11.0% | -323.7% | -1380.4% | |
| ROA | 2.4% | 2.1% | 0.8% | -0.3% | 0.2% | 1.9% | 0.7% | -0.2% | -0.1% | 1.9% | 0.8% | -0.3% | -0.2% |
| — | +14.9% | +10.3% | -44.3% | +256.3% | -3.3% | -9.6% | +21.4% | +45.3% | +8.8% | -8.9% | -327.4% | -1373.3% | |
| ROIC | 4.7% | 3.2% | 1.5% | -0.0% | 0.6% | 2.8% | 1.4% | 0.2% | 0.3% | 2.9% | 1.3% | -0.0% | 0.1% |
| — | +13.7% | +8.5% | -102.3% | +113.1% | -2.1% | +2.2% | +585.0% | +143.8% | +9.8% | -12.0% | -112.1% | -71.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Spire Inc.'s Debt/EBITDA ratio is 5.7x, down from 21.0x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 27.0% YoY to 0.55x, strengthening the short-term liquidity position.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.54 | 0.64 | 1.56 | 1.54 | 1.41 | 1.36 | 1.48 | 1.47 | 1.35 | 1.33 | 1.55 | 1.62 | 1.53 |
| — | -52.7% | +5.5% | +5.0% | +4.1% | +2.1% | -4.8% | -9.1% | -11.8% | -11.7% | -3.8% | +5.1% | +11.0% | |
| Debt / EBITDA | 6.37 | 5.65 | 20.99 | 68.94 | 33.82 | 12.51 | 22.15 | 52.39 | 44.08 | 12.28 | 23.05 | 76.63 | 59.21 |
| — | -54.8% | -5.3% | +31.6% | -23.3% | +1.9% | -3.9% | -31.6% | -25.6% | -12.2% | +5.5% | +59.8% | +47.4% | |
| Current Ratio | 0.32 | 0.55 | 0.61 | 0.32 | 0.37 | 0.43 | 0.50 | 0.45 | 0.48 | 0.61 | 0.55 | 0.61 | 0.56 |
| — | +27.0% | +22.2% | -30.0% | -22.6% | -29.5% | -10.1% | -26.2% | -14.2% | -22.9% | -18.6% | -9.3% | -21.9% | |
| Quick Ratio | 0.21 | 0.48 | 0.61 | 0.21 | 0.27 | 0.43 | 0.37 | 0.30 | 0.35 | 0.48 | 0.43 | 0.45 | 0.40 |
| — | +12.5% | +61.9% | -30.8% | -23.6% | -10.3% | -12.3% | -34.4% | -13.7% | -25.7% | -18.4% | -8.6% | -26.4% | |
| Interest Coverage | 2.62 | 4.85 | 2.96 | 0.05 | 1.48 | 6.53 | 3.11 | 0.30 | 0.68 | 5.86 | 3.10 | 0.00 | 0.39 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying SR stock.
Spire Inc.'s current P/E is 17.6x. The average P/E over the last 3 quarters is 27.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Spire Inc.'s current operating margin is 21.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Spire Inc.'s business trajectory between earnings reports.