SUBURBAN PROPANE PARTNERS LP (SPH) Fundamental Analysis & Valuation

NYSE:SPH • US8644821048

20.665 USD
+0.23 (+1.15%)
Last: Mar 12, 2026, 01:35 PM
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This SPH fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Taking everything into account, SPH scores 5 out of 10 in our fundamental rating. SPH was compared to 15 industry peers in the Gas Utilities industry. There are concerns on the financial health of SPH while its profitability can be described as average. SPH may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

6

1. SPH Profitability Analysis

1.1 Basic Checks

  • In the past year SPH was profitable.
  • SPH had a positive operating cash flow in the past year.
  • SPH had positive earnings in each of the past 5 years.
  • In the past 5 years SPH always reported a positive cash flow from operatings.
SPH Yearly Net Income VS EBIT VS OCF VS FCFSPH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M

1.2 Ratios

  • SPH's Return On Assets of 5.55% is amongst the best of the industry. SPH outperforms 86.67% of its industry peers.
  • Looking at the Return On Equity, with a value of 21.23%, SPH belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • SPH's Return On Invested Capital of 8.00% is fine compared to the rest of the industry. SPH outperforms 80.00% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SPH is in line with the industry average of 6.13%.
  • The 3 year average ROIC (7.79%) for SPH is below the current ROIC(8.00%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.55%
ROE 21.23%
ROIC 8%
ROA(3y)4.45%
ROA(5y)5.2%
ROE(3y)18%
ROE(5y)22.19%
ROIC(3y)7.79%
ROIC(5y)8.4%
SPH Yearly ROA, ROE, ROICSPH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

1.3 Margins

  • With a Profit Margin value of 9.30%, SPH is not doing good in the industry: 73.33% of the companies in the same industry are doing better.
  • SPH's Profit Margin has improved in the last couple of years.
  • The Operating Margin of SPH (15.03%) is worse than 86.67% of its industry peers.
  • SPH's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 61.71%, SPH is in line with its industry, outperforming 60.00% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SPH has declined.
Industry RankSector Rank
OM 15.03%
PM (TTM) 9.3%
GM 61.71%
OM growth 3Y1.58%
OM growth 5Y2.61%
PM growth 3Y-7.18%
PM growth 5Y6.27%
GM growth 3Y4.88%
GM growth 5Y-1.51%
SPH Yearly Profit, Operating, Gross MarginsSPH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. SPH Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SPH is creating some value.
  • SPH has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SPH has been increased compared to 5 years ago.
  • SPH has a better debt/assets ratio than last year.
SPH Yearly Shares OutstandingSPH Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
SPH Yearly Total Debt VS Total AssetsSPH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.2 Solvency

  • SPH has a debt to FCF ratio of 21.37. This is a negative value and a sign of low solvency as SPH would need 21.37 years to pay back of all of its debts.
  • SPH has a Debt to FCF ratio of 21.37. This is in the better half of the industry: SPH outperforms 73.33% of its industry peers.
  • SPH has a Debt/Equity ratio of 2.11. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 2.11, SPH is not doing good in the industry: 86.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.11
Debt/FCF 21.37
Altman-Z N/A
ROIC/WACC1.16
WACC6.92%
SPH Yearly LT Debt VS Equity VS FCFSPH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.3 Liquidity

  • SPH has a Current Ratio of 0.87. This is a bad value and indicates that SPH is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a decent Current ratio value of 0.87, SPH is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • SPH has a Quick Ratio of 0.87. This is a bad value and indicates that SPH is not financially healthy enough and could expect problems in meeting its short term obligations.
  • SPH has a better Quick ratio (0.61) than 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.61
SPH Yearly Current Assets VS Current LiabilitesSPH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. SPH Growth Analysis

3.1 Past

  • SPH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 91.51%, which is quite impressive.
  • SPH shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.07% yearly.
  • Looking at the last year, SPH shows a small growth in Revenue. The Revenue has grown by 7.11% in the last year.
  • Measured over the past years, SPH shows a small growth in Revenue. The Revenue has been growing by 5.27% on average per year.
EPS 1Y (TTM)91.51%
EPS 3Y-9.33%
EPS 5Y11.07%
EPS Q2Q%130%
Revenue 1Y (TTM)7.11%
Revenue growth 3Y-1.56%
Revenue growth 5Y5.27%
Sales Q2Q%-0.79%

3.2 Future

  • The Earnings Per Share is expected to grow by 5.19% on average over the next years.
  • The Revenue is expected to grow by 0.63% on average over the next years.
EPS Next Y12.09%
EPS Next 2Y5.87%
EPS Next 3Y5.19%
EPS Next 5YN/A
Revenue Next Year-0.75%
Revenue Next 2Y0.44%
Revenue Next 3Y0.63%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SPH Yearly Revenue VS EstimatesSPH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
SPH Yearly EPS VS EstimatesSPH Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5 2

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Find the best growth stocksShow best growing peers

8

4. SPH Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 10.18 indicates a reasonable valuation of SPH.
  • Based on the Price/Earnings ratio, SPH is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
  • SPH is valuated cheaply when we compare the Price/Earnings ratio to 26.15, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 11.24, the valuation of SPH can be described as reasonable.
  • 73.33% of the companies in the same industry are more expensive than SPH, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.27, SPH is valued rather cheaply.
Industry RankSector Rank
PE 10.18
Fwd PE 11.24
SPH Price Earnings VS Forward Price EarningsSPH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SPH indicates a somewhat cheap valuation: SPH is cheaper than 66.67% of the companies listed in the same industry.
  • 86.67% of the companies in the same industry are more expensive than SPH, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 22.15
EV/EBITDA 9.33
SPH Per share dataSPH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of SPH may justify a higher PE ratio.
PEG (NY)0.84
PEG (5Y)0.92
EPS Next 2Y5.87%
EPS Next 3Y5.19%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. SPH Dividend Analysis

5.1 Amount

  • SPH has a Yearly Dividend Yield of 6.29%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.56, SPH pays a better dividend. On top of this SPH pays more dividend than 100.00% of the companies listed in the same industry.
  • SPH's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 6.29%

5.2 History

  • The dividend of SPH decreases each year by -9.23%.
  • SPH has been paying a dividend for at least 10 years, so it has a reliable track record.
  • SPH has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-9.23%
Div Incr Years0
Div Non Decr Years3
SPH Yearly Dividends per shareSPH Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 63.76% of the earnings are spent on dividend by SPH. This is not a sustainable payout ratio.
DP63.76%
EPS Next 2Y5.87%
EPS Next 3Y5.19%
SPH Yearly Income VS Free CF VS DividendSPH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
SPH Dividend Payout.SPH Dividend Payout, showing the Payout Ratio.SPH Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

SPH Fundamentals: All Metrics, Ratios and Statistics

SUBURBAN PROPANE PARTNERS LP

NYSE:SPH (3/12/2026, 1:35:29 PM)

20.665

+0.23 (+1.15%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)02-05
Earnings (Next)05-06
Inst Owners43.02%
Inst Owner Change3.45%
Ins Owners2.35%
Ins Owner Change5%
Market Cap1.37B
Revenue(TTM)1.43B
Net Income(TTM)132.93M
Analysts48.89
Price Target17.34 (-16.09%)
Short Float %0.89%
Short Ratio3.65
Dividend
Industry RankSector Rank
Dividend Yield 6.29%
Yearly Dividend1.3
Dividend Growth(5Y)-9.23%
DP63.76%
Div Incr Years0
Div Non Decr Years3
Ex-Date02-03
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)1.26%
Min EPS beat(2)-3.78%
Max EPS beat(2)6.29%
EPS beat(4)1
Avg EPS beat(4)-5.49%
Min EPS beat(4)-19.85%
Max EPS beat(4)6.29%
EPS beat(8)1
Avg EPS beat(8)-23.62%
EPS beat(12)3
Avg EPS beat(12)-17.59%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-13.3%
Min Revenue beat(2)-20.15%
Max Revenue beat(2)-6.45%
Revenue beat(4)1
Avg Revenue beat(4)-6.26%
Min Revenue beat(4)-20.15%
Max Revenue beat(4)6.18%
Revenue beat(8)1
Avg Revenue beat(8)-6.25%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)1.96%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.41%
Valuation
Industry RankSector Rank
PE 10.18
Fwd PE 11.24
P/S 0.96
P/FCF 22.15
P/OCF 10.56
P/B 2.19
P/tB N/A
EV/EBITDA 9.33
EPS(TTM)2.03
EY9.82%
EPS(NY)1.84
Fwd EY8.9%
FCF(TTM)0.93
FCFY4.51%
OCF(TTM)1.96
OCFY9.47%
SpS21.55
BVpS9.44
TBVpS-9.49
PEG (NY)0.84
PEG (5Y)0.92
Graham Number20.77
Profitability
Industry RankSector Rank
ROA 5.55%
ROE 21.23%
ROCE 10.12%
ROIC 8%
ROICexc 8%
ROICexgc 19.6%
OM 15.03%
PM (TTM) 9.3%
GM 61.71%
FCFM 4.33%
ROA(3y)4.45%
ROA(5y)5.2%
ROE(3y)18%
ROE(5y)22.19%
ROIC(3y)7.79%
ROIC(5y)8.4%
ROICexc(3y)7.8%
ROICexc(5y)8.41%
ROICexgc(3y)20.82%
ROICexgc(5y)23.09%
ROCE(3y)9.87%
ROCE(5y)10.63%
ROICexgc growth 3Y-5.19%
ROICexgc growth 5Y3.69%
ROICexc growth 3Y-3.46%
ROICexc growth 5Y5.84%
OM growth 3Y1.58%
OM growth 5Y2.61%
PM growth 3Y-7.18%
PM growth 5Y6.27%
GM growth 3Y4.88%
GM growth 5Y-1.51%
F-Score6
Asset Turnover0.6
Health
Industry RankSector Rank
Debt/Equity 2.11
Debt/FCF 21.37
Debt/EBITDA 4.61
Cap/Depr 94.59%
Cap/Sales 4.75%
Interest Coverage 250
Cash Conversion 45.28%
Profit Quality 46.56%
Current Ratio 0.87
Quick Ratio 0.61
Altman-Z N/A
F-Score6
WACC6.92%
ROIC/WACC1.16
Cap/Depr(3y)86.81%
Cap/Depr(5y)72.91%
Cap/Sales(3y)4.22%
Cap/Sales(5y)3.58%
Profit Quality(3y)129.77%
Profit Quality(5y)135.11%
High Growth Momentum
Growth
EPS 1Y (TTM)91.51%
EPS 3Y-9.33%
EPS 5Y11.07%
EPS Q2Q%130%
EPS Next Y12.09%
EPS Next 2Y5.87%
EPS Next 3Y5.19%
EPS Next 5YN/A
Revenue 1Y (TTM)7.11%
Revenue growth 3Y-1.56%
Revenue growth 5Y5.27%
Sales Q2Q%-0.79%
Revenue Next Year-0.75%
Revenue Next 2Y0.44%
Revenue Next 3Y0.63%
Revenue Next 5YN/A
EBIT growth 1Y18.36%
EBIT growth 3Y0%
EBIT growth 5Y8.02%
EBIT Next Year39.19%
EBIT Next 3Y12.1%
EBIT Next 5Y10.22%
FCF growth 1Y-61.53%
FCF growth 3Y-13.42%
FCF growth 5Y-8.37%
OCF growth 1Y-37.04%
OCF growth 3Y-5.47%
OCF growth 5Y-2.32%

SUBURBAN PROPANE PARTNERS LP / SPH FAQ

What is the fundamental rating for SPH stock?

ChartMill assigns a fundamental rating of 5 / 10 to SPH.


What is the valuation status of SUBURBAN PROPANE PARTNERS LP (SPH) stock?

ChartMill assigns a valuation rating of 8 / 10 to SUBURBAN PROPANE PARTNERS LP (SPH). This can be considered as Undervalued.


How profitable is SUBURBAN PROPANE PARTNERS LP (SPH) stock?

SUBURBAN PROPANE PARTNERS LP (SPH) has a profitability rating of 6 / 10.


What is the earnings growth outlook for SUBURBAN PROPANE PARTNERS LP?

The Earnings per Share (EPS) of SUBURBAN PROPANE PARTNERS LP (SPH) is expected to grow by 12.09% in the next year.


How sustainable is the dividend of SUBURBAN PROPANE PARTNERS LP (SPH) stock?

The dividend rating of SUBURBAN PROPANE PARTNERS LP (SPH) is 6 / 10 and the dividend payout ratio is 63.76%.