SUBURBAN PROPANE PARTNERS LP (SPH) Fundamental Analysis & Valuation
NYSE:SPH • US8644821048
20.43 USD
-0.07 (-0.34%)
At close: Mar 11, 2026
20.43 USD
0 (0%)
After Hours: 3/11/2026, 8:25:50 PM
This SPH fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
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. SPH has a medium profitability rating, but doesn't score so well on its financial health evaluation. SPH scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. SPH Profitability Analysis
1.1 Basic Checks
- In the past year SPH was profitable.
- In the past year SPH had a positive cash flow from operations.
- Each year in the past 5 years SPH has been profitable.
- SPH had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- SPH has a Return On Assets of 5.55%. This is amongst the best in the industry. SPH outperforms 86.67% of its industry peers.
- With an excellent Return On Equity value of 21.23%, SPH belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
- SPH has a better Return On Invested Capital (8.00%) than 80.00% of its industry peers.
- SPH had an Average Return On Invested Capital over the past 3 years of 7.79%. This 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 Rank | Sector 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%
1.3 Margins
- SPH has a worse Profit Margin (9.30%) than 73.33% of its industry peers.
- In the last couple of years the Profit Margin of SPH has grown nicely.
- SPH's Operating Margin of 15.03% is on the low side compared to the rest of the industry. SPH is outperformed by 86.67% of its industry peers.
- In the last couple of years the Operating Margin of SPH has grown nicely.
- With a Gross Margin value of 61.71%, SPH perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
- In the last couple of years the Gross Margin of SPH has declined.
| Industry Rank | Sector 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%
2. SPH Health Analysis
2.1 Basic Checks
- SPH has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- Compared to 1 year ago, SPH has more shares outstanding
- 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.
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.
- SPH's Debt to Equity ratio of 2.11 is on the low side compared to the rest of the industry. SPH is outperformed by 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.11 | ||
| Debt/FCF | 21.37 | ||
| Altman-Z | N/A |
ROIC/WACC1.16
WACC6.92%
2.3 Liquidity
- A Current Ratio of 0.87 indicates that SPH may have some problems paying 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 Quick ratio of 0.61. This is in the better half of the industry: SPH outperforms 73.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.61 |
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.
- The Earnings Per Share has been growing by 11.07% on average over the past years. This is quite good.
- The Revenue has been growing slightly by 7.11% in the past 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
- SPH is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.19% yearly.
- SPH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.63% yearly.
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
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. SPH Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 10.06 indicates a reasonable valuation of SPH.
- SPH's Price/Earnings ratio is rather cheap when compared to the industry. SPH is cheaper than 86.67% of the companies in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 26.15, SPH is valued rather cheaply.
- A Price/Forward Earnings ratio of 11.11 indicates a reasonable valuation of SPH.
- 73.33% of the companies in the same industry are more expensive than SPH, based on the Price/Forward Earnings ratio.
- SPH's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.06 | ||
| Fwd PE | 11.11 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, SPH is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of SPH indicates a rather cheap valuation: SPH is cheaper than 86.67% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.9 | ||
| EV/EBITDA | 9.35 |
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.
- SPH has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.83
PEG (5Y)0.91
EPS Next 2Y5.87%
EPS Next 3Y5.19%
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.
- Compared to an average S&P500 Dividend Yield of 1.82, SPH pays a better dividend.
| Industry Rank | Sector 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
5.3 Sustainability
- SPH pays out 63.76% of its income as dividend. This is not a sustainable payout ratio.
DP63.76%
EPS Next 2Y5.87%
EPS Next 3Y5.19%
SPH Fundamentals: All Metrics, Ratios and Statistics
20.43
-0.07 (-0.34%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)02-05 2026-02-05/bmo
Earnings (Next)05-06 2026-05-06
Inst Owners43.02%
Inst Owner Change3.45%
Ins Owners2.35%
Ins Owner Change5%
Market Cap1.36B
Revenue(TTM)1.43B
Net Income(TTM)132.93M
Analysts48.89
Price Target17.34 (-15.12%)
Short Float %0.89%
Short Ratio3.65
Dividend
| Industry Rank | Sector 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 2026-02-03 (0.325)
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.06 | ||
| Fwd PE | 11.11 | ||
| P/S | 0.95 | ||
| P/FCF | 21.9 | ||
| P/OCF | 10.44 | ||
| P/B | 2.16 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.35 |
EPS(TTM)2.03
EY9.94%
EPS(NY)1.84
Fwd EY9%
FCF(TTM)0.93
FCFY4.57%
OCF(TTM)1.96
OCFY9.58%
SpS21.55
BVpS9.44
TBVpS-9.49
PEG (NY)0.83
PEG (5Y)0.91
Graham Number20.77
Profitability
| Industry Rank | Sector 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 Rank | Sector 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%.