Spire Inc. (SR) Revenue History
Annual and quarterly revenue from 1994 to present
SR Revenue Over Time (1994–2025)
SR Revenue Growth History
16 of 31 years with positive growth- FY1994 revenue growth
- N/A
- FY1995 revenue growth
- -17.6%
- FY1996 revenue growth
- +28.8%
- FY1997 revenue growth
- +10.6%
- FY1998 revenue growth
- -8.7%
- FY1999 revenue growth
- -12.6%
- FY2000 revenue growth
- +15.2%
- FY2001 revenue growth
- +77.0%
- FY2002 revenue growth
- -24.6%
- FY2003 revenue growth
- +39.1%
- FY2004 revenue growth
- +19.0%
- FY2005 revenue growth
- +27.7%
- FY2006 revenue growth
- +14.9%
- FY2007 revenue growth
- +1.1%
- FY2008 revenue growth
- +19.0%
- FY2009 revenue growth
- -14.2%
- FY2010 revenue growth
- -8.5%
- FY2011 revenue growth
- -7.6%
- FY2012 revenue growth
- -29.8%
- FY2013 revenue growth
- -9.6%
- FY2014 revenue growth
- +60.0%
- FY2015 revenue growth
- +21.5%
- FY2016 revenue growth
- -22.2%
- FY2017 revenue growth
- +13.2%
- FY2018 revenue growth
- +12.9%
- FY2019 revenue growth
- -0.6%
- FY2020 revenue growth
- -5.0%
- FY2021 revenue growth
- +20.5%
- FY2022 revenue growth
- -1.7%
- FY2023 revenue growth
- +21.3%
- FY2024 revenue growth
- -2.7%
- FY2025 revenue growth
- -4.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.02B | -3.0% |
| Q1 2026 | $762.2M | +13.9% |
| Q4 2025 | $334.1M | +13.7% |
| Q3 2025 | $421.9M | +1.9% |
| Q2 2025 | $1.05B | -6.8% |
| Q1 2025 | $669.1M | -11.6% |
| Q4 2024 | $293.8M | -5.3% |
| Q3 2024 | $414.1M | -1.1% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SR Revenue Analysis (1994–2025)
Current Revenue & Growth
As of June 22, 2026, Spire Inc. (SR) generated trailing twelve-month (TTM) revenue of $2.54 billion, reflecting slight decline in growth of -3.0% year-over-year. The most recent quarter (Q2 2026) recorded $1.02 billion in revenue, up 33.8% sequentially.
Historical Growth Trajectory
SR's 5-year compound annual growth rate (CAGR) stands at +5.9%, indicating steady revenue expansion. The 3-year CAGR of +4.0% is below the 5-year average, signalling a growth deceleration in recent years. Spire Inc.'s highest annual revenue of $2.67 billion was recorded in 2023.
Revenue by Segment
SR's revenue is primarily driven by Gas Utility (88%), Gas Marketing (6%), and Midstream (6%). With over half of revenue concentrated in Gas Utility, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Utilities sector peers — including NJR (+8.5% YoY), NFG (+20.7% YoY), and NWN (+5.9% YoY) — SR has underperformed the peer group in revenue growth. Compare SR vs NJR →
SR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SRCurrent | $2.5B | -3.0% | +5.9% | 21.2% | |
 NJR | $2.0B | +8.5% | +0.8% | 21.4% | |
 NFG | $2.3B | +20.7% | +8.1% | 35.7% | |
 NWN | $1.3B | +5.9% | +10.8% | 31.4% | |
 ATO | $4.7B | +8.8% | +10.8% | 33.2% | |
 SWX | $1.9B | -39.1% | -10.1% | 24.4% |
SR Historical Revenue Data (1994–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.48B | -4.5% | $1.93B | 78.1% | $523.9M | 21.2% |
| 2024 | $2.59B | -2.7% | $982.3M | 37.9% | $488.3M | 18.8% |
| 2023 | $2.67B | +21.3% | $887.9M | 33.3% | $418.6M | 15.7% |
| 2022 | $2.20B | -1.7% | $825.0M | 37.5% | $408.2M | 18.6% |
| 2021 | $2.24B | +20.5% | $823.4M | 36.8% | $450.2M | 20.1% |
| 2020 | $1.86B | -5.0% | $700.7M | 37.8% | $206.4M | 11.1% |
| 2019 | $1.95B | -0.6% | $638.0M | 32.7% | $302.3M | 15.5% |
| 2018 | $1.97B | +12.9% | $616.0M | 31.3% | $294.1M | 15.0% |
| 2017 | $1.74B | +13.2% | $632.2M | 36.3% | $340.9M | 19.6% |
| 2016 | $1.54B | -22.2% | $544.4M | 35.4% | $282.3M | 18.4% |
| 2015 | $1.98B | +21.5% | $544.5M | 27.6% | $272.5M | 13.8% |
| 2014 | $1.63B | +60.0% | $360.8M | 22.2% | $166.4M | 10.2% |
| 2013 | $1.02B | -9.6% | $204.9M | 20.1% | $96.5M | 9.5% |
| 2012 | $1.13B | -29.8% | $205.0M | 18.2% | $110.6M | 9.8% |
| 2011 | $1.60B | -7.6% | $227.9M | 14.2% | $118.2M | 7.4% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
32+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SR — Frequently Asked Questions
Quick answers to the most common questions about buying SR stock.
Is SR's revenue growth accelerating or slowing?
SR revenue growth is slowing. TTM revenue is $2.5B, up -3.0% year-over-year — below the 5-year CAGR of +5.9%. The deceleration suggests maturing end-markets or increased competition.
What is SR's revenue history from 1994 to 2026?
Spire Inc. (SR) revenue history spans 1994 to 2026. TTM revenue as of 2026 is $2.5B, growing at -3.0% YoY. The 5-year CAGR is +5.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SR's long-term revenue growth rate (CAGR)?
Spire Inc.'s 5-year revenue CAGR of +5.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -3.0% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SR.
Why does SR's quarterly revenue fluctuate?
SR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Spire Inc.'s revenue data from 1994 to 2026 shows full historical quarterly detail on this page.
How is SR's revenue distributed by segment?
SR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SR's revenue compare to industry peers?
Spire Inc. (SR) with TTM revenue of $2.5B and -3.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.