SUBURBAN PROPANE PARTNERS LP (SPH) Stock Fundamental Analysis
NYSE:SPH - New York Stock Exchange, Inc. - US8644821048 - Currency: USD
Taking everything into account, SPH scores 4 out of 10 in our fundamental rating. SPH was compared to 14 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 has a correct valuation and a medium growth rate.
1. Profitability
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.
1.2 Ratios
With a Return On Assets value of 2.90%, SPH perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SPH has a better Return On Equity (12.68%) than 85.71% of its industry peers.
With a decent Return On Invested Capital value of 6.98%, SPH is doing good in the industry, outperforming 78.57% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for SPH is in line with the industry average of 6.35%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.9% | ||
| ROE | 12.68% | ||
| ROIC | 6.98% |
ROA(3y)5.12%
ROA(5y)4.86%
ROE(3y)21.43%
ROE(5y)21.99%
ROIC(3y)8.09%
ROIC(5y)7.99%
1.3 Margins
SPH has a Profit Margin of 5.18%. This is in the lower half of the industry: SPH underperforms 64.29% of its industry peers.
In the last couple of years the Profit Margin of SPH has remained more or less at the same level.
The Operating Margin of SPH (13.60%) is worse than 71.43% of its industry peers.
In the last couple of years the Operating Margin of SPH has remained more or less at the same level.
With a Gross Margin value of 61.32%, SPH perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SPH's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.6% | ||
| PM (TTM) | 5.18% | ||
| GM | 61.32% |
OM growth 3Y-7.95%
OM growth 5Y0.58%
PM growth 3Y-16.29%
PM growth 5Y0.65%
GM growth 3Y-0.9%
GM growth 5Y0.4%
2. Health
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.
SPH has more shares outstanding than it did 5 years ago.
The debt/assets ratio for SPH is higher compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of SPH is 11.84, which is on the high side as it means it would take SPH, 11.84 years of fcf income to pay off all of its debts.
SPH has a better Debt to FCF ratio (11.84) than 92.86% of its industry peers.
A Debt/Equity ratio of 2.39 is on the high side and indicates that SPH has dependencies on debt financing.
SPH has a Debt to Equity ratio of 2.39. This is amonst the worse of the industry: SPH underperforms 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.39 | ||
| Debt/FCF | 11.84 | ||
| Altman-Z | N/A |
ROIC/WACC1
WACC7.01%
2.3 Liquidity
A Current Ratio of 0.70 indicates that SPH may have some problems paying its short term obligations.
SPH has a Current ratio of 0.70. This is comparable to the rest of the industry: SPH outperforms 50.00% of its industry peers.
A Quick Ratio of 0.51 indicates that SPH may have some problems paying its short term obligations.
SPH has a Quick ratio (0.51) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.7 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
SPH shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -33.33%.
The Earnings Per Share has been growing slightly by 0.72% on average over the past years.
Looking at the last year, SPH shows a decrease in Revenue. The Revenue has decreased by -4.50% in the last year.
Measured over the past years, SPH shows a small growth in Revenue. The Revenue has been growing by 0.92% on average per year.
EPS 1Y (TTM)-33.33%
EPS 3Y-20.63%
EPS 5Y0.72%
EPS Q2Q%-21.05%
Revenue 1Y (TTM)-4.5%
Revenue growth 3Y0.98%
Revenue growth 5Y0.92%
Sales Q2Q%2.05%
3.2 Future
The Earnings Per Share is expected to grow by 19.79% on average over the next years. This is quite good.
The Revenue is expected to grow by 2.97% on average over the next years.
EPS Next Y27.58%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
EPS Next 5YN/A
Revenue Next Year6.07%
Revenue Next 2Y3.88%
Revenue Next 3Y2.97%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 19.17, which indicates a rather expensive current valuation of SPH.
Compared to the rest of the industry, the Price/Earnings ratio of SPH is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 28.18, SPH is valued a bit cheaper.
SPH is valuated correctly with a Price/Forward Earnings ratio of 12.23.
85.71% of the companies in the same industry are more expensive than SPH, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of SPH to the average of the S&P500 Index (20.81), we can say SPH is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.17 | ||
| Fwd PE | 12.23 |
4.2 Price Multiples
SPH's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. SPH is more expensive than 64.29% of the companies in the same industry.
92.86% of the companies in the same industry are more expensive than SPH, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.91 | ||
| EV/EBITDA | 10.51 |
4.3 Compensation for Growth
SPH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as SPH's earnings are expected to grow with 19.79% in the coming years.
PEG (NY)0.7
PEG (5Y)26.74
EPS Next 2Y20.72%
EPS Next 3Y19.79%
5. Dividend
5.1 Amount
SPH has a Yearly Dividend Yield of 6.49%, which is a nice return.
SPH's Dividend Yield is rather good when compared to the industry average which is at 3.91. SPH pays more dividend than 100.00% of the companies in the same industry.
SPH's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.49% |
5.2 History
The dividend of SPH decreases each year by -11.53%.
SPH has paid a dividend for at least 10 years, which is a reliable track record.
SPH has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-11.53%
Div Incr Years0
Div Non Decr Years3
5.3 Sustainability
SPH pays out 120.43% of its income as dividend. This is not a sustainable payout ratio.
DP120.43%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
NYSE:SPH (5/5/2025, 3:37:36 PM)
20.32
-0.17 (-0.83%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners37.63%
Inst Owner Change7.74%
Ins Owners3.16%
Ins Owner Change5.73%
Market Cap1.31B
Analysts48.89
Price Target17.34 (-14.67%)
Short Float %1.55%
Short Ratio4.74
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.49% |
Yearly Dividend1.3
Dividend Growth(5Y)-11.53%
DP120.43%
Div Incr Years0
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-49.91%
Min EPS beat(2)-56%
Max EPS beat(2)-43.82%
EPS beat(4)0
Avg EPS beat(4)-41.74%
Min EPS beat(4)-57.25%
Max EPS beat(4)-9.9%
EPS beat(8)2
Avg EPS beat(8)-23.64%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-6.25%
Min Revenue beat(2)-11.34%
Max Revenue beat(2)-1.17%
Revenue beat(4)0
Avg Revenue beat(4)-6.25%
Min Revenue beat(4)-11.34%
Max Revenue beat(4)-1.17%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)3.03%
EPS NQ rev (1m)2.35%
EPS NQ rev (3m)13.54%
EPS NY rev (1m)-10.56%
EPS NY rev (3m)-27.82%
Revenue NQ rev (1m)0.92%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.35%
Revenue NY rev (3m)40.35%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.17 | ||
| Fwd PE | 12.23 | ||
| P/S | 0.98 | ||
| P/FCF | 11.91 | ||
| P/OCF | 7.19 | ||
| P/B | 2.4 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.51 |
EPS(TTM)1.06
EY5.22%
EPS(NY)1.66
Fwd EY8.18%
FCF(TTM)1.71
FCFY8.4%
OCF(TTM)2.82
OCFY13.9%
SpS20.7
BVpS8.45
TBVpS-10.97
PEG (NY)0.7
PEG (5Y)26.74
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.9% | ||
| ROE | 12.68% | ||
| ROCE | 8.83% | ||
| ROIC | 6.98% | ||
| ROICexc | 6.99% | ||
| ROICexgc | 17.97% | ||
| OM | 13.6% | ||
| PM (TTM) | 5.18% | ||
| GM | 61.32% | ||
| FCFM | 8.24% |
ROA(3y)5.12%
ROA(5y)4.86%
ROE(3y)21.43%
ROE(5y)21.99%
ROIC(3y)8.09%
ROIC(5y)7.99%
ROICexc(3y)8.11%
ROICexc(5y)8.01%
ROICexgc(3y)22.07%
ROICexgc(5y)22.37%
ROCE(3y)10.24%
ROCE(5y)10.12%
ROICexcg growth 3Y-12.63%
ROICexcg growth 5Y-4.17%
ROICexc growth 3Y-10.39%
ROICexc growth 5Y-0.47%
OM growth 3Y-7.95%
OM growth 5Y0.58%
PM growth 3Y-16.29%
PM growth 5Y0.65%
GM growth 3Y-0.9%
GM growth 5Y0.4%
F-Score4
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.39 | ||
| Debt/FCF | 11.84 | ||
| Debt/EBITDA | 5.23 | ||
| Cap/Depr | 106.56% | ||
| Cap/Sales | 5.4% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 73.08% | ||
| Profit Quality | 159.13% | ||
| Current Ratio | 0.7 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | N/A |
F-Score4
WACC7.01%
ROIC/WACC1
Cap/Depr(3y)78.69%
Cap/Depr(5y)58.5%
Cap/Sales(3y)3.53%
Cap/Sales(5y)3.17%
Profit Quality(3y)136.04%
Profit Quality(5y)171.85%
High Growth Momentum
Growth
EPS 1Y (TTM)-33.33%
EPS 3Y-20.63%
EPS 5Y0.72%
EPS Q2Q%-21.05%
EPS Next Y27.58%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.5%
Revenue growth 3Y0.98%
Revenue growth 5Y0.92%
Sales Q2Q%2.05%
Revenue Next Year6.07%
Revenue Next 2Y3.88%
Revenue Next 3Y2.97%
Revenue Next 5YN/A
EBIT growth 1Y-6.09%
EBIT growth 3Y-7.04%
EBIT growth 5Y1.51%
EBIT Next Year63.22%
EBIT Next 3Y19.51%
EBIT Next 5Y14.05%
FCF growth 1Y-43.75%
FCF growth 3Y-19.88%
FCF growth 5Y-12.01%
OCF growth 1Y-24.14%
OCF growth 3Y-10.84%
OCF growth 5Y-6.67%