Pricing Log in Create free account
Friday 6 November 2026 Export SRE’s income statement to Excel — free account

Sempra

SRE Utilities Utilities Diversified

Sempra’s revenue for fiscal 2025 (year ended December 2025) was $13.7 billion, up 3.92% from fiscal 2024.

Revenue
+1.27%
EPS
+1,016.7%
Free cash flow
+25.8%
Total debt
+14.6%

Quarter to September 2026, against a year earlier

80.14 2.76 −3.33%
Market cap
$52.2B
P/E
17.1×
Fwd P/E
16.4×
Dividend yield
3.27%
F-score
5/9
Altman Z
1.03
Beneish M
−2.87
Dividend safety
17/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2017

  • Sdge
  • So Cal Gas
  • Sempra Mexico
  • Sempra LNG & Midstream
  • Sempra Renewables

Every year since 2012 →

Insider Decisions last twelve months

Bought, $m 0.58
Sold, $m 6.66
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 3 — — — — — — — —
Sell — 1 — 2 1 2 1 — — — — —
Insider Ownership 0.17%

Capital & Financial Ratios $m

Size
Market Cap 52,200.00
Revenue ttm 13,592.00
Net income ttm 3,690.00
Free cash flow ttm (4,869.00)
Net debt Q 37,438.00
Valuation
P/E 17.09
Forward P/E 16.40
Price / sales 3.86
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.31
Financial health
Current ratio Q 1.61 (at or above 1.5: strong)
Debt / equity Q 0.92
Interest coverage Q 0.00
Growth
Revenue growth Q +1.27% (above 0%: growing)
Operating income growth Q +42.47% (above 0%: growing)
EPS, this year +9.85%
EPS, next year A +7.31%
Revenue, next year A +0.78%
EPS, past 5 yrs −15.65% (below 0%: weak)
EPS, next 5 yrs A +8.62%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.6×, against a ten-year median of 5.5×; over the ten years it ranged from 3.7× in 2016 to 7.3× in 2026.
P/E against its own 10 years 28.06%
10-year low 10-year high
P/S against its own 10 years 81.44%
10-year low 10-year high
P/B against its own 10 years 3.19%
10-year low 10-year high
EV/Sales against its own 10 years 85.66%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.27%
Annual rate
2.62
Payout ratio
56.1%
Growth, 2017–25
+5.79%/yr
  1. 1.65 ’17
  2. 1.79 ’18 +9
  3. 1.94 ’19 +8
  4. 2.09 ’20 +8
  5. 2.20 ’21 +5
  6. 2.29 ’22 +4
  7. 2.38 ’23 +4
  8. 2.48 ’24 +4
  9. 2.58 ’25 +4
  10. 2.64 ’26e +2
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 285 1,586 31 36
Receivables 2,837 2,483 1,995 —
Inventory 482 559 561 531
Other 1,593 657 32,250 —
5,470 5,285 34,837 37,318
2023 2024 2025 Q'26
Payables 2,440 2,446 1,672 —
ST’ Debt 3,317 4,290 6,042 5,966
Other 3,116 1,609 12,889 —
10,090 9,676 21,894 23,209

Compound Annual Growth %

10y 5y 3y
Sales 2.96% 3.80% (1.73%)
Cash Flow 4.65% 11.99% 58.71%
Earnings 2.90% (13.76%) (4.99%)
Book Value 11.92% 9.24% 9.86%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.01 Actual 1.16

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.93 1.11 Beat by 0.18
Q4 FY25 1.13 1.28 Beat by 0.15
Q1 FY26 1.51 1.51 Met by 0.00
Q2 FY26 1.01 1.16 Beat by 0.15
Q3 FY26 1.20 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.58 1.21 1.34 — —
’25 1.39 0.71 0.12 0.54 2.75
’24 1.26 1.12 1.00 1.04 4.42
’23 1.54 0.96 1.14 1.16 4.79
’22 0.97 0.89 0.77 0.70 3.31
’21 1.44 0.69 (1.01) 0.95 2.01
’20 1.27 3.81 0.61 0.72 6.44
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,655 2,997 3,191 — —
’25 3,802 3,000 3,151 3,749 13,702
’24 3,640 3,011 2,776 3,758 13,185
’23 6,560 3,335 3,334 3,491 16,720
’22 3,820 3,547 3,617 3,455 14,439
’21 3,259 2,741 3,013 3,844 12,857
’20 3,029 2,526 2,644 3,171 11,370
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,809 1,308 1,563 — —
’25 1,482 784 1,110 1,189 4,565
’24 1,851 669 1,022 1,365 4,907
’23 1,980 1,757 1,392 1,089 6,218
’22 1,607 757 (909) (313) 1,142
’21 1,502 753 726 861 3,842
’20 1,318 (291) 602 962 2,591
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (652) (918) (1,077) — —
’25 (854) (1,520) (1,451) (2,222) (6,047)
’24 (82) (1,228) (913) (1,085) (3,308)
’23 150 (695) (400) (1,234) (2,179)
’22 403 (400) (2,088) (2,130) (4,215)
’21 321 (490) (456) (510) (1,135)
’20 313 (1,479) (496) (404) (2,066)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 28.2% a year for ten years.

Implied
28.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 10,183 9,640 10,102 10,829 11,370 12,857 14,439 16,720 13,185 13,702 13,592 +3.4% 13,809 13,787 13,839 +0.3%
Gross margin, % 65.31 71.22 71.07 75.33 79.00 74.97 68.96 72.24 86.67 85.16 0.00 +19.9 pt
EBT 1,824 1,248 714 1,734 1,489 219 1,343 2,627 2,110 1,169 1,875 (4.8%)
EBT margin, % 17.91 12.95 7.07 16.01 13.10 1.70 9.30 15.71 16.00 8.53 13.79 (9.4) pt
Net income 1,519 351 1,126 2,362 4,105 1,463 2,285 3,618 3,500 2,072 3,690 +3.5%
Per share, $
Per share, $ Revenue 20.35 19.16 18.84 19.48 19.53 20.62 22.91 26.53 20.80 20.99 20.77 +0.3%
Earnings 2.74 0.51 1.73 3.70 6.47 2.02 3.33 4.81 4.44 2.75 4.69 0.0%
Cash flow 4.62 7.21 6.56 5.56 4.45 6.16 1.81 9.87 7.74 6.99 8.97 +4.7%
Capex (6.90) (7.33) (3.66) (5.05) (8.00) (7.98) (8.50) (13.32) (12.96) (16.26) (16.41) +10.0%
Free cash flow (2.28) (0.13) 2.89 0.50 (3.55) (1.82) (6.69) (3.46) (5.22) (9.26) (7.44) +16.9%
Book value 30.46 30.09 35.90 39.23 42.83 43.98 46.41 53.39 59.62 59.43 62.34 +7.7%
Shares, m 500 503 536 556 582 624 630 630 634 653 654 +3.0%
Valuation, ×
Valuation, × P/E 18.98 102.29 31.92 20.50 9.89 31.80 23.15 15.78 19.67 31.99 17.09 30.6
P/S 2.49 2.75 2.87 3.89 3.26 3.21 3.36 2.86 4.22 4.21 3.86 3.3
P/B 1.66 1.75 1.71 2.16 1.70 1.56 1.71 1.46 1.51 1.49 1.31 1.7
EV/Sales 4.13 4.73 5.29 6.26 5.30 5.08 5.33 4.70 6.82 6.76 6.61 5.4
EV/FCF (36.85) (701.00) 34.43 242.92 (29.19) (57.54) (18.26) (36.06) (27.16) (15.32) (18.46) (64.4)
Cash, $m
Cash, $m Operating cash flow 2,311 3,625 3,516 3,088 2,591 3,842 1,142 6,218 4,907 4,565 5,869 +7.9%
Capex (3,451) (3,690) (1,964) (2,809) (4,657) (4,977) (5,357) (8,397) (8,215) (10,612) (10,738) +13.3%
Free cash flow (1,140) (65) 1,552 279 (2,066) (1,135) (4,215) (2,179) (3,308) (6,047) (4,869) +20.4%
Balance, $m
Balance, $m Working capital (2,817) (3,294) (3,878) (5,811) (2,328) (5,660) (3,987) (4,620) (4,391) 12,943 14,109 n/m
Net debt 16,706 19,062 24,434 25,677 23,224 24,067 28,509 30,791 34,262 34,990 37,438 +8.6%
Shareholders’ equity 15,241 15,140 19,248 21,805 24,934 27,419 29,256 33,654 37,788 38,793 40,784 +10.9%
Returns, %
Returns, % ROA 3.08 0.52 1.66 3.25 5.69 1.81 2.78 3.66 3.07 1.73 2.72 (1.3) pt
ROIC 3.42 3.74 2.96 3.46 3.28 1.57 2.49 3.60 2.57 2.06 0.00 (1.4) pt
ROE 9.86 1.69 5.76 11.26 18.23 5.20 7.63 9.92 8.09 4.75 0.00 (5.1) pt
People
People Employees 16,575 16,046 16,823 13,969 14,706 15,390 15,785 16,835 16,773 15,938 — (0.4%)
Revenue/emp, $m 0.61 0.60 0.60 0.78 0.77 0.84 0.91 0.99 0.79 0.86 — +3.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Sempra is a holding company whose principal businesses are regulated electric and natural gas utilities in California and Texas. Its businesses deliver energy to homes and businesses and invest in pipelines, electricity networks and other energy infrastructure. Sempra is headquartered in San Diego and led by chief executive Jeffrey W. Martin.

In California, San Diego Gas & Electric (SDG&E) provides electricity and natural gas service, while Southern California Gas Company (SoCalGas) distributes, transports and stores natural gas. Their customers include households, businesses, power generators and other utilities. SDG&E also generates some electricity and purchases power for customers who use its procurement service.

Where the money comes from and where it goes Fiscal 2017

Fiscal 2017: revenue by segment, and margins
Sdge 4,476 46.43%
So Cal Gas 3,785 39.26%
Sempra Mexico 1,196 12.41%
Sempra LNG & Midstream 540 5.60%
Sempra Renewables 94 0.98%
Gross margin 71.22%
Operating margin 21.23%
Pre-tax margin 12.95%

Revenue by segment since 2012

Sempra vs peers in Utilities Diversified (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SRE Sempra $52.2B 17.1× 16.4× +1.27% (above 0%: growing) +1,016.67% (above 0%: growing) +25.78% (above 0%: growing) 0.00% 0.00%
BIP Brookfield Infrastructure Partners LP $24.5B 61.0× 39.9× +19.40% (above 0%: growing) n/m +17.47% (above 0%: growing) 24.53% 22.77% Compare
AES The AES Corporation $10.6B 6.0× 7.3× +15.55% (above 0%: growing) −16.96% (below 0%: shrinking) +39.92% (above 0%: growing) 25.36% 13.04% Compare
ELPC Companhia Paranaense de Energia - Copel Unsponsored ADR $7.8B 15.1× — — +100.00% (above 0%: growing) — — — Compare
AVA Avista Corporation $3.4B 13.6× 14.2× +4.47% (above 0%: growing) +62.50% (above 0%: growing) −237.84% (below 0%: shrinking) 100.00% 15.68% Compare
UTL Unitil Corporation $1.1B 18.3× 16.9× +11.37% (above 0%: growing) n/m +14.36% (above 0%: growing) 59.59% 6.04% Compare
Median of peers $7.8B 15.1× 15.5× +13.46% +62.50% +15.92% 42.47% 14.36%

All 6 Utilities Diversified stocks →

From the latest earnings call

Updated

  • Jeff Martin said Sempra expects the SI Partners sale to simplify its business model, recycle capital into regulated utilities and deconsolidate close to $9 billion of debt.
  • Karen Sedgwick said Sempra reaffirmed its 2026 and 2027 adjusted EPS ranges while advancing a $65 billion capital plan increasingly directed toward Texas.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 91.17%
Held by the ten largest 53.02%
Holder Shares Stake Change
Vanguard 87.19m 13.34% +9.73m
BlackRock 60.28m 9.22% +368.36k
Wellington Management 43.81m 6.70% −2.32m
State Street 37.99m 5.81% +689.52k
Morgan Stanley 25.02m 3.83% +675.24k
Capital Group 21.48m 3.29% −5.39m
JPMorgan Chase 20.05m 3.07% +2.10m
Fidelity (FMR) 19.50m 2.98% +931.92k
Franklin Templeton 15.67m 2.40% −74.65k
Geode Capital Management 15.62m 2.39% +933.36k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 22.25m 11.71m 163.00
2024 21.51m 28.13m 156.00
2023 27.42m 11.52m 129.00
2022 18.61m 34.18m 129.00
2021 24.68m 11.77m 107.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Sempra (SRE) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks
Impact 3 · · PR Newswire
Impact 3 · · PR Newswire

29 Oct

Impact 4 · · Zacks

28 Oct

Impact 4 · · Trefis

27 Oct

Impact 3 · · Trefis
Impact 3 · · Trefis

26 Oct

Impact 3 · · Trefis

23 Oct

Impact 3 · · Barchart

21 Oct

Impact 4 · · 24/7 Wall St.

20 Oct

Impact 3 · · PR Newswire

19 Oct

Impact 3 · · PR Newswire

15 Oct

Impact 3 · · Trefis

6 Oct

Impact 3 · · PR Newswire

24 Sep

Impact 3 ·

20 Sep

Impact 4 ·

19 Sep

Impact 4 ·

16 Sep

Impact 4 ·

14 Sep

Impact 4 ·
Impact 4 ·

31 Aug

Impact 4 ·
Impact 3 ·

20 Aug

Impact 3 ·

9 Aug

Impact 3 · · MarketBeat transcript

8 Aug

Impact 3 ·

7 Aug

Impact 4 · · utilitydive.com
Impact 3 ·

6 Aug

Impact 3 ·

SRE metrics, ten years each

stockrow.com/SRE · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com