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Spire Valuation Multiples

Discover revenue and EBITDA valuation multiples for Spire and similar public comparables like Royal Vopak, Fastned, and NMDC Energy.

Spire Overview

About Spire

Spire Inc is a public utility holding company with three reportable business segments: Gas Utility, Gas Marketing and Midstream. The Gas Utility segment includes the regulated operations of Laclede Gas, Alabama Gas Corporation ('Alagasco') changed its name to Spire Alabama Inc. effective September 1, 2017, and Laclede Gas Company changed its name to Spire Missouri Inc. effective August 30, 2017. The Gas Utility segment generates a majority of the company's revenue but is subject to seasonal fluctuations. The Gas Marketing segment includes Laclede Energy Resources, Inc, whose operations include the marketing of natural gas and related activities on a non-regulated basis and the Midstream segment includes transportation and storage of natural gas. Maximum revenue from residential area.


Founded

2000

HQ

United States of America
Employees

3.5K+

Website

spireenergy.com

Financials

LTM Revenue $2.6B

LTM EBITDA $805M

EV

$9.6B

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Spire Financials

Spire has a last 12-month revenue of $2.6B and a last 12-month EBITDA of $805M.

In the most recent fiscal year, Spire achieved revenue of $2.6B and an EBITDA of $789M.

Spire expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Spire P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $2.7B $2.6B XXX XXX XXX
Gross Profit $825M $888M XXX XXX XXX
Gross Margin 31% 34% XXX XXX XXX
EBITDA $697M $789M XXX XXX XXX
EBITDA Margin 26% 30% XXX XXX XXX
Net Profit $221M $218M XXX XXX XXX
Net Margin 8% 8% XXX XXX XXX
Net Debt $4.3B $4.7B XXX XXX XXX

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Spire Stock Performance

As of April 15, 2025, Spire's stock price is $76.

Spire has current market cap of $4.5B, and EV of $9.6B.

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Spire Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$9.6B $4.5B XXX XXX XXX XXX $4.33

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Spire Valuation Multiples

As of April 15, 2025, Spire has market cap of $4.5B and EV of $9.6B.

Spire's trades at 3.6x LTM EV/Revenue multiple, and 11.9x LTM EBITDA.

Analysts estimate Spire's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Spire Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $9.6B XXX XXX XXX
EV/Revenue 3.7x XXX XXX XXX
EV/EBITDA 12.0x XXX XXX XXX
P/E 17.4x XXX XXX XXX
P/E/Growth 1.7x XXX XXX XXX
EV/FCF 16661.7x XXX XXX XXX

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Spire Valuation Multiples

Spire's NTM/LTM revenue growth is 4%

Spire's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Spire's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Spire's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Spire Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -3% XXX XXX XXX XXX
EBITDA Margin 31% XXX XXX XXX XXX
EBITDA Growth 13% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 34% XXX XXX XXX XXX
Revenue per Employee $0.7M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 19% XXX XXX XXX XXX

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Spire Public Comps

See public comps and valuation multiples for Energy Services and Utilities comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC XXX XXX XXX XXX XXX XXX
NMDC Energy XXX XXX XXX XXX XXX XXX
Fastned XXX XXX XXX XXX XXX XXX
Fugro XXX XXX XXX XXX XXX XXX
Royal Vopak XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Spire M&A and Investment Activity

Spire acquired  XXX companies to date.

Last acquisition by Spire was  XXXXXXXX, XXXXX XXXXX XXXXXX . Spire acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Spire

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Spire

When was Spire founded? Spire was founded in 2000.
Where is Spire headquartered? Spire is headquartered in United States of America.
How many employees does Spire have? As of today, Spire has 3.5K+ employees.
Who is the CEO of Spire? Spire's CEO is Mr. Steven L. Lindsey.
Is Spire publicy listed? Yes, Spire is a public company listed on NYS.
What is the stock symbol of Spire? Spire trades under SR ticker.
When did Spire go public? Spire went public in 1950.
Who are competitors of Spire? Similar companies to Spire include e.g. ADNOC, NMDC Energy, Fastned, Fugro.
What is the current market cap of Spire? Spire's current market cap is $4.5B
What is the current revenue of Spire? Spire's last 12-month revenue is $2.6B.
What is the current EBITDA of Spire? Spire's last 12-month EBITDA is $805M.
What is the current EV/Revenue multiple of Spire? Current revenue multiple of Spire is 3.6x.
What is the current EV/EBITDA multiple of Spire? Current EBITDA multiple of Spire is 11.9x.
What is the current revenue growth of Spire? Spire revenue growth between 2023 and 2024 was -3%.
Is Spire profitable? Yes, Spire is EBITDA-positive (as of the last 12 months).

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