Company Analysis

Spire Inc. (SR)

NYSE: SR · Natural Gas Distribution · St Louis, MO · filing with the SEC since 2000
Grade5.1
◀ Past 6.3● Present 4.3▶ Future 5.3

The grade of Spire Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.1/10
◀ Past6.325% of the headline
● Present4.345% of the headline
▶ Future5.330% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

6.3/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
7.9/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 79th percentile among 14 sector filers · read for itself

From the record

Spire Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.4/10

What has it actually done, year after year?

+4% a year over 7 filed years; profitable in 7 of 7.

weight 22% of this tense · 44th percentile among 14 sector filers · read for its customers

From the record

Spire Inc.'s 7 filed years say what it did: revenue went from $2.0 billion in fiscal 2019 to $2.5 billion in fiscal 2025, up 4% a year; it rose in 2 of 6 years; the deepest fall was 7% from fiscal 2023 to fiscal 2025; net income was positive in 7 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span4.0%bottom 4% of its family
  • the share of years revenue rosebottom 4% of its family
  • the share of filed years with a profittop 21% of its family
  • the deepest fall from a revenue peak7.1%top 11% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
5.4/10

How has it treated the people who own it?

Share count grew 4.1% a year. 26% of cash flow returned. Insiders: 1 sales, 3 purchases.

weight 33% of this tense · 54th percentile among 12 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-09-30, Spire Inc.'s diluted share count grew about 4.1% a year, and dividends and buybacks returned about 26% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 3 purchases of their own stock on the open market in the year to 2026-09-30, buying about $251 thousand (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 42% of its family
  • cash returned against operating cash flowtop 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.3/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
4.4/10

Is it financially healthy right now?

ROE 8%: 8¢ of profit per shareholder dollar. Leverage 71%: owes 71¢ per asset dollar.

weight 45% of this tense · 44th percentile among 13 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-09-30, Spire Inc. earned about 8 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 13 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 71 cents per dollar of assets, and net share issuance: its share count grew 4.3% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 35% of its family
  • return on equitytop 50% of its family
  • gross profit against assetsbottom 42% of its family
  • the share count against the year beforetop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.7/10

How strong is its position in its industry?

top 43% of 14 in its family; net margin 11%.

weight 33% of this tense · 57th percentile among 14 sector filers · read for its customers

From the record

Spire Inc.'s standing among 14 graded names in its industry family: revenue of $2.5 billion in fiscal 2025 ranks in the top 42% by size; a net margin of 11% ranks in the top 46%; revenue growth of 4% a year over the last 3 filed years ranks in the top 39% (its annual reports).

What it rests on

  • revenue against the family$2.48Btop 42% of its family
  • net margin11.0%top 46% of its family
  • three-year revenue growth4.0%top 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
1.9/10

What are the people in charge doing?

bottom 19% of 9 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 19th percentile among 9 sector filers · read for its shareholders

From the record

Spire Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Doyle, Scott Edward (CEO and President, as filed), filing under that title since 2025-05-06, 1.5 years (bottom 17% of its family); the 18 officers and directors filing in the last fifteen months have been on the record a median of 3.3 years (bottom 17%); 11 officer or director changes were reported on Form 8-K since 2023-11-13, against the 18 people in charge now (bottom 23%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge11 in three years among 18 peoplebottom 23% of its family
  • the median years the people in charge have filed3.3 yearsbottom 17% of its family
  • the chief executive's years on the record1.5 yearsbottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.3/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.9/10

How much room does it have to grow?

top 41% of 13 in its family for room to expand.

weight 22% of this tense · 59th percentile among 13 sector filers · read for itself

From the record

Spire Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $6 million against debt of $3.4 billion leaves -29.1% of its assets as net cash, top 39% of its family; cash from operations less capital spending is -13.9% of revenue (bottom 42%); a gross margin of 58.8% (top 25%) (its annual report).

What it rests on

  • cash less debt against assets-29.1%top 39% of its family
  • cash from operations less capital spending against revenue-13.9%bottom 42% of its family
  • gross margin58.8%top 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.7/10

What could actually drive growth from here?

top 43% of 14 in its family for growth drivers.

weight 45% of this tense · 57th percentile among 14 sector filers · read for its customers

From the record

Spire Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 4% a year over the last three filed years against 4% over all 7, speeding up (top 18% of its family); the newest year grew -4.5% (bottom 25%); capital spending grew 18.6% a year (top 37%) (its annual reports). Spire Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 18% of its family
  • the newest year's revenue growth-4.5%bottom 25% of its family
  • three-year growth of capital spending18.6%top 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.5/10

Did its newest year beat what its own record pointed to?

bottom 45% of 13 in its family for expectations against reality.

weight 33% of this tense · 45th percentile among 13 sector filers · read for its shareholders

From the record

Spire Inc.'s newest year against its own record: revenue of $2.5 billion in fiscal 2025 came in 12.1% below the $2.8 billion its prior three years' pace pointed to (bottom 12% of its family); net income of $272 million against a prior three-year average of $230 million (top 50%); a net margin of 11% against 9.3% before (top 27%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-12.1%bottom 12% of its family
  • net income against the prior three years' average+18%top 50% of its family
  • net margin against its prior average+1.7 pointstop 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SR · research, not advice