Spire Inc. (SR) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SR Revenue Growth
Revenue Breakdown (FY 2025)
SR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SR Revenue Analysis (2014–2025)
As of May 8, 2026, Spire Inc. (SR) generated trailing twelve-month (TTM) revenue of $2.47 billion, reflecting moderate decline in growth of -9.0% year-over-year. The most recent quarter (Q2 2026) recorded $956.5 million in revenue, up 25.5% sequentially.
Looking at the longer-term picture, SR's 5-year compound annual growth rate (CAGR) stands at +5.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $2.67 billion in 2023.
Revenue diversification analysis shows SR's business is primarily driven by Gas Utility (88%), Gas Marketing (6%), and Midstream (6%). With over half of revenue concentrated in Gas Utility, the company maintains significant focus in this area while developing other growth vectors.
When 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 terms of 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 | -9.0% | +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 (2014–2025)
| 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% |
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Start ComparisonSR — Frequently Asked Questions
Quick answers to the most common questions about buying SR stock.
Is SR's revenue growth accelerating or slowing?
SR revenue declined -9.0% year-over-year, contrasting with the 5-year CAGR of +5.9%. TTM revenue fell to $2.5B. This reverses the prior growth trend.
What is SR's long-term revenue growth rate?
Spire Inc.'s 5-year revenue CAGR of +5.9% reflects the variable expansion pattern. Current YoY growth of -9.0% is below this long-term average.
How is SR's revenue distributed by segment?
SR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.