Spire vs UGI
UGI reported revenue of $7.3 billion in fiscal 2025, 2.9 times Spire's $2.5 billion in fiscal 2025. Spire's revenue fell 4.5% in its latest year, and UGI's grew 1.1%. Spire had an operating margin of 21.2%, against 15.2% at UGI. Free cash flow was −$344 million at Spire and $390 million at UGI.
Side by side
| Spire | UGI | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Sep 30, 2025 |
| Revenue | $2.5B | $7.3B |
| Revenue growth | −4.5% | 1.1% |
| Revenue growth a year, last 5 years | 5.9% | 2.1% |
| Gross margin | 58.8% | — |
| Operating margin | 21.2% | 15.2% |
| Net margin | 11.0% | 9.3% |
| Free cash flow | −$344M | $390M |
| Free cash flow margin | −13.9% | 5.3% |
| Return on capital | 5.2% | 9.8% |
| Net debt to EBITDA | 6.3x | 3.8x |
| Dividends and buybacks | $182M | $355M |
| Change in diluted share count | 4.3% | 1.8% |
| Last close | $85.74 | $39.11 |
| P/E at the last close | 15.1× | 13.1× |
| Insider trades, last 12 months | bought $251,100, sold $307,709 | sold $3.6 million |
| Piotroski F-score | 5 of 9 | 7 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
SpireUGI
Operating margin
Percent of revenue
SpireUGI
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
SpireUGI