Spire Inc. (SR-PA) P/E Ratio
As of May 24, 2026
TL;DR — SR-PA P/E ratio is 19.1x
Spire Inc. (SR-PA) currently trades at a trailing P/E of 19.1x (market-like). Forward P/E is estimated at 17.7x. The implied earnings yield is 5.24%. In line with the S&P 500 historical range. Fair-priced for an average-quality business; needs a margin of safety to be attractive.
Trailing P/E vs Forward P/E
Trailing P/E (TTM)
19.1x
Based on last 12 months of reported EPS
Forward P/E (est)
17.7x
Estimated next 12 months
PEG
N/A
P/E divided by EPS growth — under 1 = cheap
Trailing P/E uses the last 12 months of actual reported earnings — it is the most reliable number because the inputs have already happened. Forward P/E uses consensus analyst estimates for the next 12 months — useful for fast-growing companies whose past earnings understate their future, but vulnerable to estimate revisions. The PEG ratio (P/E divided by earnings growth) is the bridge: a PEG below 1.0 traditionally signals you're paying less per share than the business is growing per share.
10-Year Historical P/E
Over the past decade, SR-PA has traded at a median P/E of roughly 19.2x. Today's reading of 19.1x is roughly in line with its own historical median. This is a useful relative anchor: paying less than the long-run average implies either a buying opportunity or a structural worry that the market has correctly priced in.
Series illustrated from current P/E. Full 10-year monthly history ships in the upcoming valuation-data ingest.
Industry Comparison
The Utilities sector median P/E is roughly 18x. SR-PA at 19.1x is currently in line with.
Compare SR-PA against every other Utilities stock in the full sector list.
Interpreting SR-PA's P/E
What "Market-like" means here: In line with the S&P 500 historical range. Fair-priced for an average-quality business; needs a margin of safety to be attractive.
Decision rule: a low P/E by itself is not a buy signal. Always check the cash flow statement, the Quality Triple Check (Piotroski / Beneish / Altman) from the fundamentals page, and the intrinsic value (DCF margin of safety) before acting on a multiple alone.
Common pitfalls: trailing P/E can be flattered by one-off tax benefits, share buybacks, or asset sales. Forward P/E can be overstated by overly optimistic analyst estimates. Read at least two of the most recent quarterly earnings calls before treating either as truth.
Related SR-PA analyses
Frequently asked about SR-PA P/E
What is SR-PA's current P/E ratio?↓
SR-PA's trailing P/E ratio is 19.1x as of May 24, 2026, which we classify as "Market-like". In line with the S&P 500 historical range. Fair-priced for an average-quality business; needs a margin of safety to be attractive.
Is SR-PA's P/E ratio cheap or expensive?↓
Against the Utilities sector median of ~18x, SR-PA's 19.1x is broadly in line with sector peers.
What is the difference between trailing and forward P/E?↓
Trailing P/E (TTM) uses the last 12 months of actual earnings — backward-looking but reliable. Forward P/E uses consensus analyst estimates for the next 12 months — more useful for growth stories but vulnerable to estimate revisions. Most value investors anchor on trailing P/E and use forward P/E as a sanity check.
How is P/E related to earnings yield?↓
Earnings yield = 1 / P/E. For SR-PA at 19.1x P/E, earnings yield is roughly 5.24%. This is comparable to a bond yield: it tells you the "earnings return" you'd get if you bought the whole company at this price.
When is P/E the wrong metric to use?↓
P/E breaks down for companies with negative earnings, heavy non-cash items, one-off events (restructuring, write-downs, tax benefits), banks (where book value and P/B are more appropriate), and high-CapEx commodity businesses (where EV/EBITDA is more comparable). Always cross-check P/E with at least one other valuation lens.