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Spire (SRPA.PFD) Sloan Ratio %

: 2.82% (As of Dec. 2023)
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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

Spire's Sloan Ratio for the quarter that ended in Dec. 2023 was 2.82%.

As of Dec. 2023, Spire has a Sloan Ratio of 2.82%, indicating the company is in the safe zone and there is no funny business with accruals.


Spire Sloan Ratio % Historical Data

The historical data trend for Spire's Sloan Ratio % 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.

* Premium members only.

Spire Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Sloan Ratio %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.51 3.04 6.88 7.07 4.58

Spire Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Sloan Ratio % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.75 7.92 6.49 4.58 2.82

Competitive Comparison

For the Utilities - Regulated Gas subindustry, Spire's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % Distribution

For the Utilities - Regulated industry and Utilities sector, Spire's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Spire's Sloan Ratio % falls into.



Spire Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

Spire's Sloan Ratio for the fiscal year that ended in Sep. 2023 is calculated as

Sloan Ratio=(Net Income (A: Sep. 2023 )-Cash Flow from Operations (A: Sep. 2023 )
-Cash Flow from Investing (A: Sep. 2023 ))/Total Assets (A: Sep. 2023 )
=(217.5-440.2
--695.5)/10313.6
=4.58%

Spire's Sloan Ratio for the quarter that ended in Dec. 2023 is calculated as

Sloan Ratio=(Net Income (TTM)-Cash Flow from Operations (TTM))
-Cash Flow from Investing (TTM))/Total Assets (Q: Dec. 2023 )
=(211.6-681
--769)/10631.7
=2.82%

Spire's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 179.2 (Mar. 2023 ) + -21.6 (Jun. 2023 ) + -31.1 (Sep. 2023 ) + 85.1 (Dec. 2023 ) = $211.60 Mil.
Spire's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 350.7 (Mar. 2023 ) + 224.2 (Jun. 2023 ) + 36.1 (Sep. 2023 ) + 70 (Dec. 2023 ) = $681.00 Mil.
Spire's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -189 (Mar. 2023 ) + -175.7 (Jun. 2023 ) + -179.1 (Sep. 2023 ) + -225.2 (Dec. 2023 ) = $-769.00 Mil.

* 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.


Spire  (NYSE:SRpA.PFD) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Dec. 2023, Spire has a Sloan Ratio of 2.82%, indicating the company is in the safe zone and there is no funny business with accruals.


Spire Sloan Ratio % Related Terms

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Spire (SRPA.PFD) Business Description

Traded in Other Exchanges
Address
700 Market Street, Saint Louis, MO, USA, 63101
Spire Inc is a public utility holding company with three reportable business segments: Gas Utility , Gas Marketing and Midstream. The Gas Utility segment includes the regulated operations of Laclede Gas, Alabama Gas Corporation (Alagasco), and EnergySouth Inc. The Utilities businesses operations include the purchase, retail, distribution, and sale of natural gas in Missouri, Alabama, and Mississippi. The Gas Utility segment generates a majority of the company's revenue but is subject to seasonal fluctuations. The Gas Marketing segment includes Laclede Energy Resources, Inc, whose operations include the marketing of natural gas and related activities on a non-regulated basis and the Midstream segment includes transportation and storage of natural gas.

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