| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 85 | 9.2x | 17.8x | Top tier | |
Growth | 57 | 0.3% | 7.1% | Around median | |
Quality | 66 | 11.1% | 4.5% | Top tier | |
Safety | 78 | 0.1x | 2.6x | Top tier | |
Capital Return | 79 | 3.92% | 2.12% | Top tier | |
Momentum | 44 | 7.1% | 2.9% | Around median | |
Sentiment | 78 | 6 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Spire Inc. is an energy utility company that, following the acquisition of Spire Tennessee and the divestitures of Spire Marketing and Spire Storage, has become fully focused on regulated activities. Its business model consists of gas utilities and an FERC-regulated pipeline, with earnings growth opportunities primarily coming from infrastructure investment, expansion of the rate base on which returns are calculated, and cost recovery through regulated rate mechanisms in Missouri, Alabama, Gulf, and Tennessee. The company aims to complete the sale of Spire Mississippi in fiscal Q1 2027, further concentrating the portfolio and reducing earnings volatility associated with non-core activities.
In fiscal Q3 2026, Spire recorded an adjusted loss from continuing operations of $15 million, or $0.26 per share, compared with an adjusted loss of $13 million, or $0.29 per share, in the comparable period. The Gas Utilities segment recorded an adjusted loss of $3 million, improving from a loss of $10 million, due to new rates in Missouri and Alabama and higher weather-adjusted usage in Alabama, while other activities recorded an adjusted loss of $12 million versus $3 million because of higher corporate and interest costs. Earnings from discontinued operations also totaled $253.8 million, including an after-tax gain of $254.6 million from the sale of the businesses.
According to the latest EDGAR filings provided in the context, fiscal Q1 2025 revenue was approximately $762.2 million, and gross profit was $419.6 million, representing a calculated gross margin of approximately 55.1%, while net income was $95 million and earnings per share were $1.54. For fiscal 2025, the company generated revenue of $2.5 billion, gross profit of $1.5 billion, net income of $271.7 million, and earnings per share of $4.37. Fiscal Q3 2026 results show that the regulated utilities segment improved, but higher losses from other activities kept the quarterly continuing-operations result negative.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $96.2, within a wide range of $85 to $103, with a Neutral consensus; the average is slightly above the 52-week high of $95.31, while the highest target exceeds that high. A price-to-earnings ratio is not available in the provided data, so the valuation assessment depends primarily on Spire's ability to deliver its targeted earnings per share growth of 5%–7% and improve its funds-from-operations-to-debt ratio from 13% to 14%–15% by the end of 2028, while accounting for regulatory decision risks and the quarterly loss from continuing operations.
Figures in the text are as of 2026-09-02; the live price is shown at the top of the page.
Spire completed the sales of Spire Marketing and Spire Storage in fiscal Q3 2026 and recorded an after-tax gain of $254.6 million. At the same time, it continues to integrate Spire Tennessee following the acquisition, with a target of exiting transition services during fiscal 2027. As a result, the company has become focused on regulated gas utilities and an FERC-regulated pipeline, while aiming to complete the sale of Spire Mississippi in fiscal Q1 2027.
On August 5, 2026, management reaffirmed adjusted earnings per share guidance from continuing operations of $3.90–$4.10 for fiscal 2026. It also maintained the fiscal 2027 range of $5.40–$5.60, while using an original midpoint of $5.75 as the baseline for its long-term growth target. The long-term adjusted earnings per share growth target is 5%–7%, and management said the fiscal 2028 outlook will be issued during the year-end call in November 2026.
Spire's capital plan totals $11.2 billion over ten years, and the company spent approximately $600 million in the first nine months of fiscal 2026. It expects to spend approximately $800 million for the full fiscal 2026 year on system and infrastructure modernization and connecting new business. Management links these investments to regulated rate base growth of approximately 7% in Missouri and 7.5% in Tennessee, in addition to 6% growth in regulated equity in Alabama and Gulf.
On May 20, 2026, Spire Tennessee filed its first annual review, requesting a $14 million revenue increase. The request is based on an allowed return on equity of 9.8%, a capital structure consisting of 49% equity and 51% debt, and a rate base of $1.5 billion as of December 31, 2025. The company expects the new rates to take effect on October 1, 2026, while targeting completion of key integration milestones and an exit from transition services during fiscal 2027.
In Alabama, Spire requested an adjusted return on equity of 10.5% for Spire Alabama and 10.75% for Spire Gulf, while recommendations from some intervenors ranged between 8% and 9%. In Missouri, the Accounting Authority Order agreement did not compensate for margins lost because of weather, instead focusing on developing a permanent solution to improve the weather normalization mechanism. Recovery of approximately $21 million in interest revenue and expectations for acceleration in fiscal 2028 also depend on executing Missouri rate actions according to regulatory schedules.
Spire recorded an adjusted loss from continuing operations of $15 million, or $0.26 per share, compared with $13 million, or $0.29 per share, in the comparable period. The Gas Utilities loss improved to $3 million from $10 million due to new rates in Missouri and Alabama, but the loss from other activities increased to $12 million from $3 million. Operations and maintenance expenses rose by approximately $4 million because of bad debt, while earnings from discontinued operations totaled $253.8 million as a result of an after-tax gain on sale of $254.6 million.
