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Spire SR Acquisitions

Acquisitions at other companies

Centuri Holdings logo
Centuri HoldingsCTRI
$11.46M
Unitil logo
UnitilUTL
$0-100%
MGE Energy logo
MGE EnergyMGEE
$3.6M+7.9%
Primoris Services logo
Primoris ServicesPRIM
-$2.33M

Other financials

Income statement

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Revenue$420.2M-0.4%
Gross profit$419.6M+12.7%
Operating income$23.4M+5.9%
Net income$211.2M+911%
EPS (diluted)$3.57+1,131%

Balance sheet

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Cash & equivalents$20.7M+58.0%
Total debt$7.0B+55.8%
Total equity$3.6B+3.0%
Total assets$14.1B+23.6%

Cash flow

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Operating cash flow$122.2M-5.3%
CapEx$213.4M-3.2%
Free cash flow$218.2M

Valuation

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Market cap$4.85B+6.4%
Enterprise value$11.85B+31.1%
P/E-2.2×
P/S1.9×0.0×

Profitability

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Operating margin23.2%+4.0pp
Net margin12.7%+3.2pp
FCF margin-8.8%

Returns & leverage

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Return on equity10.6%+1.8pp
Debt / equity+0.7×
Current ratio0.4×0.0×

Where this comes from

Reported directly by Spire in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The source filing: Spire’s 10-K, filed November 14, 2025.

Filed
Nov 14, 2025
Fiscal year
FY2025
Accession
0001193125-25-282583
(In millions)Years Ended September 30 / 2025Years Ended September 30 / 2024Years Ended September 30 / 2023
Net cash provided by operating activities578.0912.4440.2
Investing Activities:
Capital expenditures(922.4)(861.3)(662.5)
Business acquisition, net of cash acquired(175.9)(37.0)
Other6.010.04.0
Net cash used in investing activities(916.4)(1,027.2)(695.5)
Financing Activities:
Issuance of long-term debt150.0495.0755.0

Item 8. Financial Statements and Supplementary Data

FAQ

What is Spire's acquisitions?
Spire (SR) reported acquisitions of $0 in Q3 2025.
How has Spire's acquisitions changed year-over-year?
Spire's acquisitions decreased by 100.0% year-over-year, from $43.98M to $0.
What does acquisitions mean?
Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

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