What is Spire's net margin?

Spire (SR) reported net margin of 12.7% in Q2 2024.

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

Spire's net margin increased by 33.3% year-over-year, from 9.5% to 12.7%.

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

Over 3 years (2020 to 2023), Spire's net margin has grown at a 19.5% compound annual growth rate (CAGR), from 4.8% to 8.2%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Spire SR Net margin

Net margin at other companies

AmerenAEE

17.2%+1.9pp

BKH

Black HillsBKH

12.6%-0.1pp

MDU Resources GroupMDU

10.5%-3.7pp

UGIUGI

8.9%—

CMS

CMS EnergyCMS

12.5%-0.6pp

Eversource EnergyES

12.6%+5.9pp

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

FCF margin-8.8%—

Returns & leverage

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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.

net income/total revenue=12.7%

Based on trailing twelve months.

The official record: Spire’s 10-Q, filed August 5, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Spire's net margin?: Spire (SR) reported net margin of 12.7% in Q2 2024.
How has Spire's net margin changed year-over-year?: Spire's net margin increased by 33.3% year-over-year, from 9.5% to 12.7%.
What is the long-term trend for Spire's net margin?: Over 3 years (2020 to 2023), Spire's net margin has grown at a 19.5% compound annual growth rate (CAGR), from 4.8% to 8.2%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.