What is Spire's midstream — goodwill?

Spire (SR) reported midstream — goodwill of $0 in Q3 2025.

What does midstream — goodwill mean?

This represents the intangible asset value recorded when the midstream segment acquires another business for a price higher than the fair market value of its net identifiable assets. It serves as an indicator of past acquisition activity and the premium paid for expected future synergies or market positioning.

Spire SR Midstream — Goodwill

Similar metrics at other companies

MPCMidstream — Goodwill, Acquired During Period

$277.5M—

MPCMidstream — Gross goodwill

$11.93B+10.3%

ETMidstream — Goodwill, Acquired During Period

$0—

EQTUpstream — Goodwill

$0—

CVXUpstream Equipment — Goodwill

$4.22B0.0%

KNFWest — Goodwill

$137.88M+11.5%

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

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Market cap$4.55B+17.2%

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

Reported directly by Spire in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: Spire’s 10-K, filed November 14, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Spire's midstream — goodwill?: Spire (SR) reported midstream — goodwill of $0 in Q3 2025.
What does midstream — goodwill mean?: This represents the intangible asset value recorded when the midstream segment acquires another business for a price higher than the fair market value of its net identifiable assets. It serves as an indicator of past acquisition activity and the premium paid for expected future synergies or market positioning.