SPIRE INC
SR, SRJN · Natural Gas Distribution · 59.1M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $78.46 · est. market cap ~$4.6B — last insider purchase, 2026-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C59Stable regulated gas-distribution utility whose weak liquidity/FCF screens are normal artifacts of the rate-base model.
Strengths
- Profitable regulated franchise: net margin 11%, operating margin 21%, gross margin 58.8% (70.6th)
- Adequate interest coverage 2.57x (61.8th) and stable, rate-regulated cash flows
Risks
- Capex-driven negative FCF (-$344M) and high leverage (D/E 0.99, 76.6th)
- Low cash/current ratio (0.32) — normal for utilities but leaves no buffer to capital-market access
- Modest ROA 2.3% (41.7th) and declining revenue (-4.5%)
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
58.8%
Operating margin
21.2%
Net margin
11.0%
Return on equity
8.0%
Return on assets
2.3%
ROIC
6.1%
Revenue growth (QoQ)
128.1%
Net-income growth
8.3%
Debt / equity
1.0×
Net debt / EBITDA
4.1×
Interest coverage
2.6×
Current ratio
0.3×
Free cash flow
-$344M
EBITDA
$822M
Tangible book value
$2.2B
Cash & investments
$6M
Cash runway
0q
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Woodard Adam W. | I | 1.1K | $78.65 |
| 2026-06-11 | KOONCE PAUL D | Buy | 500 | $78.46 |
| 2026-06-09 | Hyman Ryan L | Sell | 3.8K | $80.51 |
| 2026-06-01 | KOONCE PAUL D | Buy | 500 | $80.50 |
| 2026-05-08 | KOONCE PAUL D | Buy | 2.0K | $85.81 |
| 2026-02-13 | KOONCE PAUL D | Other | 8.8K | $25.00 |
| 2026-02-05 | Ferrari Vincent J | Grant | 1.6K | $85.27 |
| 2026-02-05 | Jones Rob L. | Grant | 1.6K | $85.27 |
| 2026-02-05 | Hightman Carrie J | Grant | 1.6K | $85.27 |
| 2026-02-05 | Newberry Brenda D | Grant | 1.6K | $85.27 |
| 2026-02-05 | KOONCE PAUL D | Grant | 1.6K | $85.27 |
| 2026-02-05 | Cook Sheri S | Grant | 1.6K | $85.27 |
| 2026-02-05 | Fogarty Maria V. | Grant | 1.6K | $85.27 |
| 2026-02-05 | BORER MARK A | Grant | 1.6K | $85.27 |
| 2026-01-20 | Doyle Scott Edward | Tax withheld | 1.4K | $83.59 |
| 2025-11-18 | Lalov Boyan N. | Tax withheld | 41 | $86.16 |
| 2025-11-18 | Lalov Boyan N. | Grant | 477 | $86.16 |
| 2025-11-18 | Lalov Boyan N. | Tax withheld | 136 | $86.16 |
| 2025-11-18 | Lalov Boyan N. | Grant | 290 | $86.16 |
| 2025-11-18 | Greenley Steven C. | Grant | 1.9K | $86.16 |
| 2025-11-18 | Krick Timothy W | Tax withheld | 177 | $86.16 |
| 2025-11-18 | Krick Timothy W | Grant | 1.4K | $86.16 |
| 2025-11-18 | Krick Timothy W | Tax withheld | 598 | $86.16 |
| 2025-11-18 | Krick Timothy W | Grant | 440 | $86.16 |
| 2025-11-18 | Vomund Courtney M. | Tax withheld | 148 | $86.16 |
| 2025-11-18 | Vomund Courtney M. | Grant | 1.2K | $86.16 |
| 2025-11-18 | Vomund Courtney M. | Tax withheld | 495 | $86.16 |
| 2025-11-18 | Vomund Courtney M. | Grant | 970 | $86.16 |
| 2025-11-18 | Aplington Matthew J | Tax withheld | 93 | $86.16 |
| 2025-11-18 | Aplington Matthew J | Grant | 711 | $86.16 |
| 2025-11-18 | Aplington Matthew J | Tax withheld | 314 | $86.16 |
| 2025-11-18 | Aplington Matthew J | Grant | 1.4K | $86.16 |
| 2025-11-18 | Hyman Ryan L | Tax withheld | 109 | $86.16 |
| 2025-11-18 | Hyman Ryan L | Grant | 1.2K | $86.16 |
| 2025-11-18 | Hyman Ryan L | Tax withheld | 363 | $86.16 |
| 2025-11-18 | Hyman Ryan L | Grant | 760 | $86.16 |
| 2025-11-18 | Mills Stephen M | Tax withheld | 83 | $86.16 |
| 2025-11-18 | Mills Stephen M | Grant | 588 | $86.16 |
| 2025-11-18 | Mills Stephen M | Tax withheld | 277 | $86.16 |
| 2025-11-18 | Mills Stephen M | Grant | 710 | $86.16 |
| 2025-11-18 | Hampton Joseph B. | Tax withheld | 117 | $86.16 |
| 2025-11-18 | Hampton Joseph B. | Grant | 1.3K | $86.16 |
| 2025-11-18 | Hampton Joseph B. | Tax withheld | 389 | $86.16 |
| 2025-11-18 | Hampton Joseph B. | Grant | 520 | $86.16 |
| 2025-11-18 | Woodard Adam W. | Tax withheld | 146 | $86.16 |
| 2025-11-18 | Woodard Adam W. | Grant | 1.5K | $86.16 |
| 2025-11-18 | Woodard Adam W. | Tax withheld | 488 | $86.16 |
| 2025-11-18 | Woodard Adam W. | Grant | 1.7K | $86.16 |
| 2025-11-18 | Doyle Scott Edward | Grant | 6.4K | $86.16 |
| 2025-11-03 | Greenley Steven C. | Grant | 8.0K | $87.82 |
| 2025-02-07 | Newberry Brenda D | Grant | 1.8K | $71.38 |
| 2025-02-07 | BORER MARK A | Grant | 1.8K | $71.38 |
| 2025-02-07 | KOONCE PAUL D | Grant | 1.8K | $71.38 |
| 2025-02-07 | Jones Rob L. | Grant | 1.8K | $71.38 |
| 2025-02-07 | Fogarty Maria V. | Grant | 1.8K | $71.38 |
| 2025-02-07 | Ferrari Vincent J | Grant | 1.8K | $71.38 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-05-01 | Material agreementExhibits | filing ↗ |
| 2026-04-30 | Acquisition/dispositionReg FDExhibits | filing ↗ |
| 2026-04-22 | Material agreementReg FDExhibits | filing ↗ |
| 2026-04-15 | Material agreementReg FDExhibits | filing ↗ |
| 2026-04-06 | Exhibits | filing ↗ |
| 2026-03-31 | Material agreementAcquisition/dispositionDebt obligationReg FDExhibits | filing ↗ |
| 2026-03-30 | Material agreementReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-06 | 2026-03-31 | 0001193125-26-208452 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-207533 ↗ |
| 8-K | 2026-05-01 | 2026-04-29 | 0001193125-26-199096 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001193125-26-197505 ↗ |
| 8-K | 2026-04-22 | 2026-04-21 | 0001193125-26-168301 ↗ |
| 8-K | 2026-04-15 | 2026-04-14 | 0001193125-26-155936 ↗ |
| 8-K/A | 2026-04-06 | 2026-03-31 | 0001193125-26-144025 ↗ |
| 8-K | 2026-03-31 | 2026-03-26 | 0001193125-26-134715 ↗ |
| 8-K | 2026-03-30 | 2026-03-28 | 0001193125-26-130379 ↗ |
| 8-K | 2026-03-16 | 2026-03-16 | 0001193125-26-108363 ↗ |
| 8-K | 2026-02-18 | 2026-02-13 | 0001193125-26-057095 ↗ |
| 8-K | 2026-02-09 | 2026-02-09 | 0001193125-26-042374 ↗ |