Sempra's rate base is expanding rapidly, with total assets rising from $90.5B to $118.0B over ten quarters, yet equity grew only from $29.5B to $33.3B, suggesting growth is being funded largely with liabilities rather than retained regulated earnings.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue has been essentially flat at roughly $3.0B to $3.8B per quarter (latest quarter +0.2% year over year) while operating margin swung between 14.1% and 29.8%, a band that more plausibly reflects fuel and commodity pass-through timing than changes in underlying earnings power.
Sempra owns 80% of Texas utility Oncor and holds a 25% stake in Sempra Infrastructure, positioning it for sector growth. The company unveiled a record $65 billion capital plan for 2026‑2030, a 17% increase over the prior plan, with a large portion earmarked for Oncor expansion and funded without issuing new common equity.
Oncor’s interconnection queue is expanding rapidly, driven largely by data center deployments. The utility projects an 18% compound annual growth rate for its rate base through 2030, supported by regulatory backing and strategic transmission expansions.
Sempra has increased its dividend for 22 consecutive years, delivering a current yield of approximately 2.64%. Analysts view the dividend payout ratio as sustainable based on projected earnings, reinforcing shareholder value.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 5, 2026 | $1.40+14.8% vs $1.22 | $3.2B-3.7% vs $3.3B |
Q3 2026 Aug 6, 2026 | $1.16+14.9% vs $1.01 | $3.0B-4.5% vs $3.1B |
Q2 2026 May 7, 2026 | $1.51+0.0% vs $1.51 | $3.7B-10.9% vs $4.1B |
Q1 2026 Feb 26, 2026 | $1.28+3.2% vs $1.24 | $3.7B-7.4% vs $4.0B |
The headline numbers for Sempra (SRE) give insight into how the company performed in the quarter ended September 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
SRE's Q3 earnings surge 26.1%, beating estimates as stronger Oncor equity earnings and infrastructure performance offset revenue weakness.
Sempra (SRE) came out with quarterly earnings of $1.4 per share, beating the Zacks Consensus Estimate of $1.2 per share. This compares to earnings of $1.11 per share a year ago.
DALLAS, Nov. 5, 2026 /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported net income of $572 million for the three months ended September 30, 2026, compared to net income of $380 million in the three months ended September 30, 2025. The increase in net income of $192 million was driven by overall higher revenues primarily attributable to higher revenues due to new base rates that went into effect on June 1, 2026, an increase in other regulated revenues recognized related to the Unified Tracker Mechanism ("UTM") and the System Resiliency Plan ("SRP"), higher customer consumption, primarily attributable to warmer weather, revenues recognized in connection with the surcharge filed pursuant to Oncor's comprehensive base rate review, and customer growth.
Benchmark SRE against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Sempra (SRE)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $78.17 | $51.1B | 16.74 | 5.83% | 22.51% | 7.26% | 3.14% | |
| $86.95 | $181.36B | 15.67 | 11% | 39.92% | 16.89% | 2.58% | |
| $127.78 | $99.62B | 18.49 | 6.19% | 15.94% | 9.63% | 3.32% | |
| $92.34 | $104.09B | 21.46 | 10.59% | 16% | 12.03% | 2.94% | |
| $68.60 | $60.34B | 22.35 | 14.16% | 13.94% | 8.01% | 3.88% | |
| $45.62 | $46.68B | 17.93 | 5.34% | 10.17% | 8.95% | 3.5% |
Sempra (SRE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Sempra (SRE) SEC filings — annual & quarterly reports (10-K, 10-Q)
Nov 5, 2026·SEC
Aug 18, 2026·SEC
Aug 6, 2026·SEC
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Sempra (SRE) stock FAQ — growth, dividends, profitability & financials explained
Sempra (SRE) reported $13.61B in revenue over the trailing twelve months. Revenue was $13.71B in fiscal year 2025. That is 588% more than the $1.99B of fiscal year 1996.
Sempra (SRE) revenue fell by 0.9% over the trailing twelve months, compared with the twelve months before.
Yes. Sempra (SRE) earned $3.06B in net income over the trailing twelve months (a 22.5% net margin).
Yes. Sempra (SRE) pays a dividend that yields 3.14% at the current price, a moderate yield.
Sempra (SRE) had a return on equity (ROE) of 7.3% over the trailing twelve months. That is below the market's typical 10-15%.
Sempra (SRE) had negative free cash flow of $8.41B over the trailing twelve months.
Sempra (SRE) has a dividend payout ratio of 87%. The dividend is reasonably covered.
