SpireFRA:LGR -1.46%75 Gross Margin % is 46.19% as of Mar. 2026, which is 26% above its 10-year median of 36.58. GuruFocus rates FRA:LGR with a GF Score™ of 75/100 and a GF Value™ of €52.18. The stock has 7 warning signs investors should review. Among 489 Utilities - Regulated companies, Spire ranks better than 71.37% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Spire's Gross Profit for the
three
months ended in Mar. 2026 was €408 Mil. Spire's Revenue for the
three
months ended in Mar. 2026 was €882 Mil. Therefore, Spire's Gross Margin % for the quarter that ended in Mar. 2026 was 46.19%.
The historical rank and industry rank for Spire's Gross Margin % or its related term are showing as below:
FRA:LGR'
s Gross Margin % Range Over the Past 10 Years
Min: 31.35 Med: 36.58 Max: 42.66
Current: 42.66
During the past 13 years, the highestGross Margin % of Spire was 42.66%. The lowest was 31.35%. And the median was 36.58%.
FRA:LGR's Gross Margin % is ranked better than 71.37% of 489
companies
in the Utilities - Regulated industry
Industry Median: 31.04
vs FRA:LGR: 42.66
Spire had a gross margin of 46.19% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Spire was 1.30% per year.
Spire (FRA:LGR) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Spire had a gross margin of 46.19% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Spire Gross Margin % Related Terms
Spire Gross Margin % Historical Data
* Premium members only.
The historical data trend for Spire's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:LGR vs MDU, OGS, BKH: Gross Margin % Comparison
For the Utilities - Regulated Gas subindustry, Spire's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Spire Gross Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Spire's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Spire's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Spire (FRA:LGR) has a Gross Margin % of 46.19% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Spire and its competitors. This is 26% above median its historical median of 36.58. Over the past decade, Spire's Gross Margin % has ranged from 31.35 to 42.66. According to the industry distribution chart, Spire ranks #140 out of 489 companies in the Utilities - Regulated industry, placing it in the top 28.6%.
Is Spire's Gross Margin % too high?
Spire's current Gross Margin % of 46.19% is 26% above median its 10-year median of 36.58. Over the past 10 years, this metric has ranged from a low of 31.35 to a high of 42.66. The Utilities - Regulated industry median Gross Margin % is 31.04. Spire's value of 46.19% is 48.8% above this industry median. Based on the distribution chart, Spire ranks #140 out of 489 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Spire has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does Spire's Gross Margin % compare to MDU and OGS?
According to the Utilities - Regulated industry distribution chart, Spire ranks #140 out of 489 companies for Gross Margin %. This puts Spire in the upper half of its industry. The industry median Gross Margin % is 31.04. Spire's value of 46.19% is 48.8% above this benchmark. Historically, Spire's own Gross Margin % has ranged from 31.35 to 42.66 over the past decade. While the company's 10-year median is 36.58 vs. the industry median of 31.04, Spire has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Utilities - Regulated company?
The median Gross Margin % among Utilities - Regulated companies is 31.04, based on 489 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Spire's current Gross Margin % of 46.19% is 48.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Spire and its competitors. For the Utilities - Regulated industry, the median Gross Margin % is 31.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spire's current Gross Margin % is 46.19%, which is 26% above median its own 10-year median of 36.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spire stock overvalued right now?
Spire (FRA:LGR) has a current Gross Margin % of 46.19%. The stock's GF Value™ is €52.18, compared to a current price of €67.50 — trading 29.4% above its estimated fair value. The current Gross Margin % is 46.19%, which is 26% above median its 10-year median of 36.58 and 48.8% above the Utilities - Regulated industry median of 31.04. Spire's overall GF Score™ is 75/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Spire (FRA:LGR), the current Gross Margin % is 46.19% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Spire (FRA:LGR) Overvalued in 2026?
Based on GuruFocus' analysis, Spire stock appears to be overvalued.
The current stock price of €67.50 is trading 29.4% above its estimated GF Value™ of €52.18.
Key valuation signals for FRA:LGR:
Gross Margin %: 46.19% (26% above median its 10-year median of 36.58)
GF Value™: €52.18 vs. price of €67.50 (29.4% above fair value)
Industry Position: 48.8% above the Utilities - Regulated median (#140 of 489)
No single metric tells the full story. See the FRA:LGR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spire Inc. is the holding company for Spire Missouri, Spire Alabama, other gas utilities, and gas-related businesses, focused on growing organically, investing in infrastructure, and advancing through innovation. Its three segments are Gas Utility, Gas Marketing, and Midstream. The Gas Utility segment is the core business and includes Spire Missouri, Spire Alabama, and Spire EnergySouth. The Gas Marketing segment includes Spire Marketing, which provides non-regulated natural gas services across the U.S. The Midstream segment includes Spire Storage, Spire STL Pipeline, and Spire MoGas Pipeline. The majority of revenue comes from Gas Utility.
75GF Score
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