SR Valuation

Spire Inc

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89.680

+0.96(1.082%)1D

SR Relative Valuation

SR's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, SR is overvalued; if below, it's undervalued.

Historical Valuation

Spire Inc (SR) is now in the Fair zone, suggesting that its current forward PE ratio of 18.34 is considered Fairly compared with the five-year average of 16.18. The fair price of Spire Inc (SR) is between 76.42 to 91.52 according to relative valuation methord.

Relative Value

Fair Zone

76.42-91.52

Current Price：89.68

Fair

18.34

Trailing

Forward

10.76

EV/EBITDA

Spire Inc. (SR) has a current EV/EBITDA of 10.76. The 5-year average EV/EBITDA is 11.36. The thresholds are as follows: Strongly Undervalued below 8.97, Undervalued between 8.97 and 10.17, Fairly Valued between 12.55 and 10.17, Overvalued between 12.55 and 13.74, and Strongly Overvalued above 13.74. The current Forward EV/EBITDA of 10.76 falls within the Historic Trend Line -Fairly Valued range.

18.07

EV/EBIT

Spire Inc. (SR) has a current EV/EBIT of 18.07. The 5-year average EV/EBIT is 17.95. The thresholds are as follows: Strongly Undervalued below 14.46, Undervalued between 14.46 and 16.20, Fairly Valued between 19.69 and 16.20, Overvalued between 19.69 and 21.43, and Strongly Overvalued above 21.43. The current Forward EV/EBIT of 18.07 falls within the Historic Trend Line -Fairly Valued range.

89.68

Spire Inc. (SR) has a current PS of 89.68. The 5-year average PS is 1.98. The thresholds are as follows: Strongly Undervalued below -11.01, Undervalued between -11.01 and -4.52, Fairly Valued between 8.47 and -4.52, Overvalued between 8.47 and 14.96, and Strongly Overvalued above 14.96. The current Forward PS of 89.68 falls within the Strongly Overvalued range.

7.67

P/OCF

Spire Inc. (SR) has a current P/OCF of 7.67. The 5-year average P/OCF is 7.76. The thresholds are as follows: Strongly Undervalued below 4.98, Undervalued between 4.98 and 6.37, Fairly Valued between 9.15 and 6.37, Overvalued between 9.15 and 10.54, and Strongly Overvalued above 10.54. The current Forward P/OCF of 7.67 falls within the Historic Trend Line -Fairly Valued range.

60.67

P/FCF

Spire Inc. (SR) has a current P/FCF of 60.67. The 5-year average P/FCF is 65.33. The thresholds are as follows: Strongly Undervalued below -726.02, Undervalued between -726.02 and -330.35, Fairly Valued between 461.00 and -330.35, Overvalued between 461.00 and 856.68, and Strongly Overvalued above 856.68. The current Forward P/FCF of 60.67 falls within the Historic Trend Line -Fairly Valued range.

Spire Inc (SR) has a current Price-to-Book (P/B) ratio of 1.63. Compared to its 3-year average P/B ratio of 1.28 , the current P/B ratio is approximately 27.25% higher. Relative to its 5-year average P/B ratio of 1.35, the current P/B ratio is about 21.10% higher. Spire Inc (SR) has a Forward Free Cash Flow (FCF) yield of approximately -4.98%. Compared to its 3-year average FCF yield of -4.93%, the current FCF yield is approximately 0.97% lower. Relative to its 5-year average FCF yield of -6.98% , the current FCF yield is about -28.60% lower.

1.63

P/B

Median3y

1.28

Median5y

1.35

-4.98

FCF Yield

Median3y

-4.93

Median5y

-6.98

Competitors Valuation Multiple

The average P/S ratio for SR's competitors is 64.39, providing a benchmark for relative valuation. Spire Inc Corp (SR) exhibits a P/S ratio of 89.68, which is 39.29% above the industry average. Given its robust revenue growth of 1.88%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Southwest Gas Holdings Inc

New Jersey Resources Corp

MDU Resources Group Inc

20.90

1.95%

4.27B

Performance Decomposition

Market capitalization of SR increased by 22.53% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 5.04 to 19.34.

The secondary factor is the Revenue Growth, contributed 1.88%to the performance.

Overall, the performance of SR in the past 1 year is driven by P/E Change. Which is more unsustainable.

1.88%

414.10M → 421.90M

Revenue Growth

-262.83%

-3.04 → 4.95

Margin Expansion

283.48%

5.04 → 19.34

P/E Change

22.53%