Spire Inc (SR) Fair Value & Analysis
Utilities · US · Market cap $4.8B · ISIN US84857L1017
What is Spire Inc really worth?
Spire Inc
SR · US
Below-average quality, and trading another 63% above our fair value of $51.12.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 15 valuation models · updated today
Share price +4.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range ($38.34 to $85.30) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range $48.54 – $94.21 · fair‑value band $38.34 – $85.30 · the $83.33 price screens above the $51.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Spire Inc (SR) currently trades at $83.33, while our model-based Fair Value estimate is $51.12, implying the stock looks roughly 63.0% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Utilities sector. Bull case: the Multiples group reads highest at a median of $78.13 per share, and 0 of the 15 models we run sit above the $83.33 price. Bear case: the Earnings-Based group reads lowest at $25.76, and 15 of the 15 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Spire Inc generated revenue of $2.6B at a net margin of 13.8%. Revenue grew 4.5% year over year. It earns a return on equity of 9.1%. Net debt stands at $5.2B. Fundamentals as of Sep 5, 2026
Our scenario range runs from $38.34 (bear case) to $85.30 (bull case); at $83.33, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −24% fair-value upside, at −39%, SR screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly $1.60 per share, which is 3.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 15 models by family
Widest divergence: Multiples ($78.13) versus Earnings-Based ($25.76). Highest evidence: Residual Income (76).
Notify me when SR reaches fair value
Put SR on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 61
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream.
Full company description
Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas. In addition, the company engages in the operation of propane through its propane pipeline, risk management, and other activities. Spire Inc. was formerly known as The Laclede Group, Inc. and changed its name to Spire Inc. in April 2016. Spire Inc. was founded in 1857 and is based in Saint Louis, Missouri.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Spire Inc reported revenue of $2.5B in FY2025 versus $2.2B in FY2021, a compound +2.6%/yr. Reported net income was $272M in FY2025, compounding +0.0%/yr from FY2021.
of which total revenue +4.6 % · buybacks/dilution −3.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
SR screens 63% overvalued. Compare with Naturgy Energy Group →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Spire Inc. Q3 2026 Earnings Call Summary
- Spire Inc (SR) (Q3 2026) Earnings Call Highlights: Strategic Divestitures and Regulatory ...
- Spire reaffirms 5% to 7% long-term adjusted EPS growth target backed by $11.2B 10-year capital plan
- Spire's Q3 Loss Wider Than Estimates, Revenues Decrease Y/Y
Peer Group
Utilities - Regulated Gas · 105 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 25/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Naturgy Energy Group NTGY | €29.60 | €31.58 | +7% |
| Atmos Energy Corporation ATO | $166.65 | $85.67 | −49% |
| NiSource Inc NI | $40.96 | $28.59 | −30% |
| Uniper SE UN0 | €47.45 | €48.32 | +2% |
| The Hong Kong and China Gas Company 0003 | HK$7.31 | HK$4.79 | −34% |
| GAIL (India) Limited GAIL | ₹171.10 | ₹130.21 | −24% |
| Italgas S.p.A IG | €8.67 | €8.63 | −1% |
| Adani Total Gas Limited ATGL | ₹654.05 | ₹101.36 | −85% |
| ENN Natural Gas Co 600803 | ¥17.51 | ¥25.71 | +47% |
| UGI Corporation UGI | $38.01 | $26.72 | −30% |
Compare Spire Inc with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Utilities stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Spire Inc (SR) overvalued or undervalued?
What is the fair value of SR?
What is the quality score of SR?
What is the revenue of Spire Inc (SR)?
What is the net profit margin of SR?
Does Spire Inc pay a dividend?
Watch Spire Inc in the live analysis
One click puts Spire Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.