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Spire SR Unbilled Revenue

Unbilled Revenue at other companies

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AmerenAEE
$298M+17.8%
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ONE GASOGS
$121M+1.3%
CMS
CMS EnergyCMS
$520M+6.3%
New Jersey Resources logo
New Jersey ResourcesNJR
$79.01M+7.3%
Essential Utilities logo
Essential UtilitiesWTRG
$131.22M+13.1%

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

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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:UnbilledReceivablesCurrent.

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 unbilled revenue?
Spire (SR) reported unbilled revenue of $51.1M in Q1 2026.
How has Spire's unbilled revenue changed year-over-year?
Spire's unbilled revenue increased by 36.6% year-over-year, from $37.4M to $51.1M.
What is the long-term trend for Spire's unbilled revenue?
Over 5 years (2020 to 2025), Spire's unbilled revenue has grown at a 6.3% compound annual growth rate (CAGR), from $10M to $13.6M.
What does unbilled revenue mean?
This represents the value of natural gas services delivered to customers that have not yet been formally invoiced as of the balance sheet date. It is a critical indicator of operational activity and revenue recognition timing in the utility sector. Significant fluctuations can signal changes in billing cycles or seasonal shifts in energy consumption patterns.