SR
UtilitiesSpire Inc. · Regulated Gas · $5B
What is Spire Inc.?
Spire Inc. is a St. Louis-based natural gas utility serving residential, commercial, and industrial customers across the United States. One of the country's larger publicly traded gas distributors, Spire has operated in the energy delivery business for well over a century.
Spire purchases and distributes natural gas to end-users through its regulated Gas Utility segment, which forms the core of its revenue base. A smaller Gas Marketing segment handles the buying and selling of natural gas in wholesale markets. The company also provides physical natural gas storage services, compresses natural gas, and transports propane through a dedicated pipeline. Revenue is primarily driven by regulated distribution rates set by state utility commissions, giving the business a relatively predictable cash flow profile.
Spire traces its roots to 1857 and is headquartered in St. Louis, Missouri.
- Regulated natural gas distribution to homes and businesses
- Wholesale natural gas marketing and trading
- Physical natural gas storage services
- Propane pipeline transportation
- Natural gas compression services
Is SR a Good Stock to Buy?
UQS Score rates SR as Below Average overall, reflecting a mixed picture across its five quality pillars.
Valuation stands out as the relative bright spot in Spire's profile, rating Good — suggesting the stock is not priced at a premium relative to its fundamentals. Quality, Moat, and Growth each come in at Neutral, consistent with the steady but unexceptional characteristics typical of regulated gas utilities.
The Risk pillar is rated Weak, which is the most notable drag on the overall score and warrants careful consideration for investors sensitive to balance-sheet or regulatory exposure.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does SR pay dividends?
Yes — Spire Inc. pays a dividend.
Spire pays a regular dividend, consistent with the income-oriented tradition of regulated utility companies. Natural gas distributors like Spire typically prioritize returning cash to shareholders through dividends given the stable, rate-regulated nature of their earnings. Investors seeking utility income often consider dividend consistency alongside payout sustainability — both of which are covered in the full UQS analysis.
When does SR report earnings?
Spire Inc. reports earnings on a quarterly cadence, typical for US-listed equities.
As a regulated utility, Spire's quarterly results tend to reflect rate-base growth, customer additions, and seasonal demand patterns for natural gas. Performance can vary meaningfully by season given heating demand. The Risk pillar's Weak rating suggests investors should monitor leverage and regulatory outcomes closely across reporting periods.
For the most recent quarter's results and upcoming reporting dates, visit Spire Inc.'s investor relations page directly.
SR Price History
+54.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Spire Inc.?
Based on Spire Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
SR Long-term Outlook
Spire's Growth pillar rates Neutral, pointing to a trajectory that is steady rather than accelerating — characteristic of mature, regulated gas distribution businesses. The Weak Risk rating introduces uncertainty around the pace of that growth, particularly given the capital-intensive nature of pipeline infrastructure and the regulatory approval processes that govern rate increases. On the positive side, the Good Valuation rating suggests the market may not be pricing in significant upside, which can limit downside risk for patient investors focused on income.
Growth drivers
- Rate-base expansion through infrastructure investment and regulatory filings
- Customer growth in served utility territories
- Incremental revenue from gas storage and marketing operations
Key risks
- Elevated financial leverage typical of capital-intensive utility models
- Regulatory risk from state utility commission rate decisions
- Longer-term demand uncertainty as energy transition policies evolve
SR vs Peers
Spire operates in a sector alongside other regulated and diversified gas utilities, each with a distinct geographic footprint and business mix.
ONE Gas is a pure-play regulated natural gas distributor focused on Oklahoma, Kansas, and Texas, making it a close operational peer to Spire's core utility segment.
New Jersey Resources combines regulated gas distribution with clean energy and midstream operations, giving it a somewhat broader business profile than Spire.
Brookfield Infrastructure operates globally across utilities, transport, and data infrastructure, representing a more diversified and internationally exposed alternative to Spire's domestic gas focus.
Frequently Asked Questions
What does Spire Inc. do?
Spire Inc. purchases and distributes natural gas to residential, commercial, and industrial customers through its regulated utility network. It also operates a gas marketing segment, provides natural gas storage, and transports propane via pipeline. The company is one of the larger publicly traded natural gas distributors in the United States, headquartered in St. Louis, Missouri.
Does SR pay dividends?
Yes, Spire pays a regular dividend. Regulated utilities like Spire have a long tradition of returning cash to shareholders through consistent dividend payments, supported by the relatively predictable cash flows that come from rate-regulated distribution operations. Investors should review current payout details on Spire's investor relations page.
When does SR report earnings?
Spire reports earnings on a quarterly cadence, as is standard for US-listed public companies. Specific upcoming report dates are not covered by our data source. For the latest schedule, check Spire Inc.'s investor relations page or a financial calendar service.
Is SR a good stock to buy?
UQS Score rates SR as Below Average overall. The Valuation pillar rates Good, and Quality, Moat, and Growth each come in at Neutral — but the Weak Risk rating is a meaningful concern. Whether SR fits a portfolio depends on an investor's income goals, risk tolerance, and view on utility sector dynamics. The full pillar breakdown is available to Pro members.
Is SR overvalued?
Based on the UQS Valuation pillar, SR rates Good, suggesting the stock is not trading at an elevated premium relative to its fundamentals. For a regulated utility carrying meaningful debt, this is a relevant consideration. The complete valuation metrics are available in the full UQS Pro analysis.
How does SR compare to its competitors?
Compared to peers like ONE Gas and New Jersey Resources, Spire is a mid-cap regulated gas distributor with a similar core business model but its own geographic footprint and financial profile. Brookfield Infrastructure offers a much broader, globally diversified infrastructure exposure. UQS Score provides side-by-side pillar comparisons for Pro members.
What is SR's market cap bracket?
Spire Inc. falls in the mid-cap bracket. This places it among the mid-sized publicly traded utilities — larger than many regional operators but well below the mega-cap integrated energy companies. Mid-cap utilities can offer a balance of income and stability, though with less liquidity than large-cap peers.
Who founded Spire Inc.?
Spire traces its origins to 1857, making it one of the older natural gas utilities in the United States. The company was formerly known as The Laclede Group, Inc. and rebranded as Spire Inc. in April 2016. Detailed founding history is publicly available through the company's official corporate history resources.
Is SR a long-term quality investment?
As a long-term quality indicator, UQS rates SR as Below Average, driven primarily by a Weak Risk pillar. Regulated utilities can offer durable income streams over time, but elevated financial leverage and regulatory dependencies introduce risks that long-term investors should weigh carefully. The full analysis is available to Pro members.
What is the main competitive advantage of Spire Inc.?
Spire's primary competitive advantage lies in its regulated utility franchise — the exclusive right to distribute natural gas within defined service territories. This creates a natural barrier to entry and provides revenue predictability through state-approved rates. However, the UQS Moat pillar rates Neutral, indicating this advantage is present but not exceptional relative to the broader utilities sector.
What sector does SR belong to?
Spire Inc. belongs to the Utilities sector, specifically the natural gas distribution industry. Utilities are generally considered defensive investments due to their regulated revenue streams and dividend-paying histories. Investors can explore other [top-rated utility stocks](/sector/utilities) on the UQS platform for sector-wide comparisons.
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Pro Analysis
SR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 47.8 | 50.9 | 53.0 | 54.1 | 2.2 | 71.1 | +0.3 |
| May 16, 2026 | 47.5 | 50.9 | 53.0 | 52.3 | 2.2 | 71.6 | +0.1 |
| May 10, 2026 | 47.4 | 28.2 | 53.0 | 46.3 | 39.5 | 79.1 | -0.3 |
| May 8, 2026 | 47.7 | 28.2 | 53.0 | 47.7 | 39.5 | 79.6 | +0.6 |
| May 7, 2026 | 47.1 | 46.3 | 53.0 | 47.7 | 9.1 | 75.7 | +0.3 |
| May 2, 2026 | 46.8 | 46.3 | 53.0 | 47.7 | 9.1 | 74.0 | -0.2 |
| Apr 26, 2026 | 47.0 | 46.3 | 53.0 | 48.6 | 9.1 | 74.3 | -0.4 |
| Apr 21, 2026 | 47.4 | 46.3 | 53.0 | 50.8 | 9.1 | 74.0 | +0.2 |
| Apr 19, 2026 | 47.2 | 46.3 | 53.0 | 49.3 | 9.1 | 74.2 | 0.0 |
| Apr 18, 2026 | 47.2 | 46.3 | 53.0 | 49.3 | 9.1 | 74.4 | -0.5 |
SR — Pillar Breakdown
Quality
— 50.9/100 (25%)Spire Inc. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 54.1/100 (20%)Spire Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 2.2/100 (15%)Spire Inc. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 71.2/100 (15%)Spire Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 53/100 (25%)Spire Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for SR.
Score Composition
Financial Data
More Stock Analysis
How is the SR UQS Score Calculated?
The UQS (Unified Quality Score) for Spire Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Spire Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Spire Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.