What is Spire's debt-to-assets?

Spire (SR) reported debt-to-assets of 0.5× in Q1 2026.

How has Spire's debt-to-assets changed year-over-year?

Spire's debt-to-assets increased by 36.8% year-over-year, from 0.4× to 0.5×.

What is the long-term trend for Spire's debt-to-assets?

Over 5 years (2020 to 2025), Spire's debt-to-assets has grown at a 5.8% compound annual growth rate (CAGR), from 0.3× to 0.4×.

What does debt-to-assets mean?

Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.

Spire SR Debt-to-assets

Debt-to-assets at other companies

Southern CompanySO

0.5×—

AmerenAEE

0.4×0.0×

OGS

ONE GASOGS

0.3×0.0×

BKH

Black HillsBKH

0.4×0.0×

MDU Resources GroupMDU

0.3×0.0×

Xcel EnergyXEL

0.5×0.0×

Other financials

Income statement

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Revenue$1.0B-3.0%

Gross profit$419.6M+12.7%

Operating income$303.5M+9.2%

Net income$282.2M+34.8%

EPS (diluted)$4.60+31.1%

Balance sheet

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Cash & equivalents$49.5M+226%

Total debt$7.7B+76.9%

Total equity$3.4B-2.6%

Total assets$14.7B+29.3%

Cash flow

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Operating cash flow$410.4M+10.1%

CapEx$192.2M-12.1%

Free cash flow$218.2M—

Valuation

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Market cap$4.55B+17.2%

Enterprise value$12.22B+46.0%

P/E7.5×-2.1×

P/S1.8×+0.2×

Profitability

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Operating margin22.6%+3.0pp

Net margin12.7%+3.2pp

FCF margin-8.8%—

Returns & leverage

See full

Return on equity10.6%+1.8pp

Debt / equity2.3×+1.0×

Current ratio0.5×+0.1×

Where this comes from

Calculated from Spire’s reported figures.

total debt/total assets=0.5×

Based on the most recent quarter.

The official record: Spire’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Spire's debt-to-assets?: Spire (SR) reported debt-to-assets of 0.5× in Q1 2026.
How has Spire's debt-to-assets changed year-over-year?: Spire's debt-to-assets increased by 36.8% year-over-year, from 0.4× to 0.5×.
What is the long-term trend for Spire's debt-to-assets?: Over 5 years (2020 to 2025), Spire's debt-to-assets has grown at a 5.8% compound annual growth rate (CAGR), from 0.3× to 0.4×.
What does debt-to-assets mean?: Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.