Spire (SR) financial statements
Spire reported revenue of $2.5B in fiscal 2025, up 5.4% a year over 9 years.
Net income was $272M and the operating margin 21.2%, against 18.4% in 2016.
Free cash flow was -$344M, and the company returned $182M in dividends.
The diluted share count rose 33% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Spire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.7B | $2.0B | $2.0B | $1.9B | $2.2B | $2.2B | $2.7B | $2.6B | $2.5B |
| Cost of revenue | — | — | — | — | — | — | — | $1.4B | $1.2B | $1.0B |
| Operating income | $282M | $341M | $294M | $302M | $206M | $450M | $408M | $419M | $488M | $524M |
| Interest expense | $77M | $89M | $98M | $104M | $106M | $107M | $120M | $186M | $201M | $204M |
| Pre-tax income | $214M | $239M | $188M | $219M | $101M | $340M | $280M | $256M | $310M | $331M |
| Income tax | $70M | $78M | -$26M | $34M | $12M | $68M | $59M | $39M | $59M | $60M |
| Net income | $144M | $162M | $214M | $185M | $89M | $272M | $221M | $218M | $251M | $272M |
| EPS (diluted) | $3.24 | $3.43 | $4.33 | $3.52 | $1.44 | $4.96 | $3.95 | $3.85 | $4.19 | $4.37 |
| Diluted shares | 44M | 47M | 49M | 51M | 51M | 52M | 52M | 53M | 56M | 59M |
| Operating margin | 18.4% | 19.6% | 15.0% | 15.5% | 11.1% | 20.1% | 18.6% | 15.7% | 18.8% | 21.2% |
| Net margin | 9.4% | 9.3% | 10.9% | 9.5% | 4.8% | 12.2% | 10.0% | 8.2% | 9.7% | 11.0% |
Balance sheet
Fiscal years, from Spire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $5M | $7M | $4M | $6M | $4M | $4M | $6M | $6M | $4M | $6M |
| Total current assets | $570M | $726M | $660M | $614M | $591M | $1.3B | $1.6B | $1.1B | $771M | $808M |
| Property, plant and equipment | $14M | $52M | $174M | $478M | $432M | $471M | $491M | $628M | $955M | $568M |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B |
| Total assets | $6.1B | $6.5B | $6.8B | $7.6B | $8.2B | $9.4B | $10.1B | $10.3B | $10.9B | $11.6B |
| Total current liabilities | $1.2B | $1.1B | $1.3B | $1.5B | $1.4B | $1.6B | $2.4B | $1.8B | $1.7B | $2.5B |
| Long-term debt | $1.8B | $2.0B | $1.9B | $2.1B | $2.4B | $2.9B | $3.0B | $3.6B | $3.7B | $3.4B |
| Total liabilities | $4.3B | $4.6B | $4.6B | $5.1B | $5.7B | $6.7B | $7.3B | $7.4B | $7.6B | $8.2B |
| Shareholders' equity | $1.8B | $2.0B | $2.3B | $2.5B | $2.5B | $2.7B | $2.8B | $2.9B | $3.2B | $3.4B |
| Net debt | $1.8B | $2.0B | $2.1B | $2.1B | $2.5B | $3.0B | $3.2B | $3.7B | $3.7B | $3.9B |
Cash flow
Fiscal years, from Spire's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $328M | $288M | $457M | $451M | $470M | $250M | $55M | $440M | $912M | $578M |
| Capital spending | $293M | $438M | $499M | $823M | $638M | $625M | $552M | $662M | $861M | $922M |
| Free cash flow | $35M | -$150M | -$43M | -$372M | -$168M | -$375M | -$497M | -$222M | $51M | -$344M |
| Stock-based compensation | $4M | $4M | $12M | $7M | $9M | $14M | $6M | $10M | $6M | $7M |
| Dividends paid | $85M | $96M | $109M | $119M | $128M | $133M | $142M | $151M | $167M | $182M |
| Net borrowing | $165M | $26M | $46M | $236M | $268M | $538M | $610M | $392M | $30M | $478M |
| Free cash flow margin | 2.3% | -8.6% | -2.2% | -19.1% | -9.1% | -16.8% | -22.6% | -8.3% | 2.0% | -13.9% |
| Dividends per share | $1.92 | $2.05 | $2.20 | $2.34 | $2.50 | $2.58 | $2.72 | $2.87 | $2.97 | $3.10 |
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Open SR in InvestinglyQuestions
What was Spire's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Spire generate?
-$344M in fiscal 2025 (operating cash flow minus capital spending).
From Spire's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.