What is Spire's net debt?

Spire (SR) reported net debt of $7.67B in Q1 2026.

How has Spire's net debt changed year-over-year?

Spire's net debt increased by 76.3% year-over-year, from $4.35B to $7.67B.

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

Over 5 years (2020 to 2025), Spire's net debt has grown at a 13.3% compound annual growth rate (CAGR), from $2.54B to $4.75B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Spire SR Net debt

Discontinued — last reported Q2 '26

Net debt at other companies

WingstopWING

5.3×-0.3×

PBF EnergyPBF

0.6×+0.4×

SeaboardSEB

2×-0.4×

Sabra HealthcareSBRA

-0.2×-0.3×

TDS

Telephone and Data SystemsTDS

-0.2×-25.0×

Dolby Laboratories, Inc.DLB

-1.8×-0.2×

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$410.4M+10.1%

CapEx$192.2M-12.1%

Free cash flow$218.2M—

Valuation

See full

Market cap$4.55B+17.2%

Enterprise value$12.22B+46.0%

P/E7.5×-2.1×

P/S1.8×+0.2×

Profitability

See full

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.

$7.7Btotal debt−$49.5Mcash and equivalents=$7.67B

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 net debt?: Spire (SR) reported net debt of $7.67B in Q1 2026.
How has Spire's net debt changed year-over-year?: Spire's net debt increased by 76.3% year-over-year, from $4.35B to $7.67B.
What is the long-term trend for Spire's net debt?: Over 5 years (2020 to 2025), Spire's net debt has grown at a 13.3% compound annual growth rate (CAGR), from $2.54B to $4.75B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.