Suburban Propane Partners Financials
This page shows Suburban Propane Partners (SPH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Suburban Propane Partners has an operating margin of 14.4%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is up from 12.9% the prior year.
Suburban Propane Partners's revenue grew 7.9% year-over-year to $1.4B, a solid pace of expansion. This earns a growth score of 51/100.
Suburban Propane Partners has a moderate D/E ratio of 2.02. This balance of debt and equity financing earns a leverage score of 36/100.
Suburban Propane Partners's current ratio of 0.55 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 2/100, which could limit financial flexibility.
Suburban Propane Partners has a free cash flow margin of 8.0%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.
Suburban Propane Partners earns a strong 17.8% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is up from 13.6% the prior year.
Suburban Propane Partners passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Suburban Propane Partners generates $1.75 in operating cash flow ($186.3M OCF vs $106.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Suburban Propane Partners earns $2.7 in operating income for every $1 of interest expense ($206.3M vs $76.3M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Suburban Propane Partners generated $1.4B in revenue in fiscal year 2025. This represents an increase of 7.9% from the prior year.
Suburban Propane Partners's EBITDA was $278.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 16.8% from the prior year.
Suburban Propane Partners generated $114.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 13.0% from the prior year.
Suburban Propane Partners reported $106.6M in net income in fiscal year 2025. This represents an increase of 43.7% from the prior year.
Suburban Propane Partners earned $1.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 42.1% from the prior year.
Suburban Propane Partners held $405K in cash against $1.2B in long-term debt as of fiscal year 2025.
Suburban Propane Partners's gross margin was 60.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.0 percentage points from the prior year.
Suburban Propane Partners's operating margin was 14.4% in fiscal year 2025, reflecting core business profitability. This is up 1.5 percentage points from the prior year.
Suburban Propane Partners's net profit margin was 7.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.8 percentage points from the prior year.
Suburban Propane Partners's ROE was 17.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.2 percentage points from the prior year.
Suburban Propane Partners invested $72.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.1% from the prior year.
SPH Income Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $326K-99.9% | $370.4M+42.4% | $260.1M-55.7% | $587.7M+57.4% | $373.3M+46.6% | $254.6M-48.9% | $498.1M+36.2% | $365.8M |
| Cost of Revenue | $131K-99.9% | $130.8M+31.4% | $99.6M-58.9% | $242.4M+64.7% | $147.2M+55.9% | $94.4M-50.3% | $190.1M+24.2% | $153.1M |
| Gross Profit | $196K-99.9% | $239.5M+49.2% | $160.6M-53.5% | $345.3M+52.7% | $226.2M+41.2% | $160.2M-48.0% | $308.0M+44.7% | $212.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $28K-99.9% | $27.9M+48.8% | $18.7M-37.4% | $29.9M+11.4% | $26.9M+35.9% | $19.8M-24.2% | $26.1M+2.0% | $25.6M |
| Operating Income | $68K-99.9% | $67.7M+1110.0% | $5.6M-96.5% | $158.4M+168.2% | $59.1M+621.1% | $8.2M-94.0% | $136.9M+180.7% | $48.7M |
| Interest Expense | $20K-99.9% | $19.8M+4.6% | $18.9M-8.2% | $20.6M+4.9% | $19.6M+6.4% | $18.4M-7.5% | $19.9M+9.5% | $18.2M |
| Income Tax | $231-99.9% | $231K-4.5% | $242K+6150.0% | -$4K-100.7% | $563K+131.7% | $243K+659.4% | $32K-87.1% | $249K |
| Net Income | $46K-99.9% | $45.8M+408.6% | -$14.8M-110.8% | $137.1M+606.1% | $19.4M+213.0% | -$17.2M-115.4% | $111.5M+356.0% | $24.5M |
| EPS (Diluted) | $0.690.0% | $0.69+400.0% | $-0.23-111.0% | $2.10+600.0% | $0.30+211.1% | $-0.27-115.7% | $1.72+352.6% | $0.38 |
SPH Balance Sheet
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4M-99.9% | $2.4B+3.5% | $2.3B-3.6% | $2.4B+0.6% | $2.4B+4.9% | $2.3B-2.8% | $2.3B+0.8% | $2.3B |
| Current Assets | $236K-99.9% | $236.0M+34.7% | $175.2M-29.9% | $250.1M+8.7% | $230.0M+46.0% | $157.5M-30.3% | $226.1M+2.0% | $221.6M |
| Cash & Equivalents | $1K-99.9% | $1.3M-4.2% | $1.3M-65.5% | $3.9M-12.7% | $4.4M+38.0% | $3.2M-27.2% | $4.4M-29.6% | $6.3M |
| Inventory | $69K-99.9% | $69.3M+14.7% | $60.4M+3.7% | $58.3M-3.8% | $60.6M+9.3% | $55.4M-4.4% | $58.0M-4.9% | $61.0M |
| Accounts Receivable | $129K-99.9% | $129.3M+61.8% | $79.9M-46.9% | $150.5M+20.3% | $125.1M+88.3% | $66.4M-46.0% | $123.0M+3.6% | $118.7M |
| Goodwill | $1.2M-99.9% | $1.2B+0.6% | $1.2B0.0% | $1.2B-0.3% | $1.2B+0.8% | $1.2B+0.2% | $1.1B0.0% | $1.1B |
| Total Liabilities | $1.8M-99.9% | $1.8B+6.1% | $1.7B-3.4% | $1.7B-6.1% | $1.8B+6.6% | $1.7B+1.8% | $1.7B-4.2% | $1.8B |
| Current Liabilities | $273K-99.9% | $272.6M+8.8% | $250.6M+6.3% | $235.7M-28.5% | $329.4M+7.6% | $306.1M+19.0% | $257.2M-16.9% | $309.6M |
| Long-Term Debt | $1.3M-99.9% | $1.3B+7.9% | $1.2B-5.3% | $1.3B-0.7% | $1.3B+7.6% | $1.2B-0.2% | $1.2B-2.5% | $1.2B |
| Total Equity | $626K-99.9% | $626.2M-3.1% | $646.1M-3.8% | $671.8M+23.2% | $545.1M-0.4% | $547.1M-14.9% | $642.7M+16.9% | $549.9M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SPH Cash Flow Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $48K+100.1% | -$47.7M-149.9% | $95.5M+138.2% | $40.1M+356.6% | $8.8M-76.1% | $36.8M-51.1% | $75.1M+688.3% | -$12.8M |
| Capital Expenditures | $20K-99.9% | $19.8M+34.9% | $14.7M-24.0% | $19.3M-19.0% | $23.8M+25.1% | $19.1M+31.0% | $14.5M+30.5% | $11.2M |
| Free Cash Flow | $28K+100.0% | -$67.5M-183.4% | $80.9M+288.9% | $20.8M+238.1% | -$15.1M-185.0% | $17.7M-70.8% | $60.6M+353.3% | -$23.9M |
| Investing Cash Flow | $41K+100.1% | -$41.3M-132.1% | -$17.8M+21.3% | -$22.6M+69.7% | -$74.5M-244.1% | -$21.7M-28.8% | -$16.8M-20.9% | -$13.9M |
| Financing Cash Flow | $89K-99.9% | $88.8M+207.7% | -$82.4M-266.1% | -$22.5M-133.3% | $67.6M+577.8% | -$14.2M+75.2% | -$57.2M-286.7% | $30.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SPH Financial Ratios
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.9%-4.8pp | 64.7%+2.9pp | 61.7%+3.0pp | 58.8%-1.8pp | 60.6%-2.3pp | 62.9%+1.1pp | 61.8%+3.7pp | 58.2% |
| Operating Margin | 20.7%+2.5pp | 18.3%+16.1pp | 2.1%-24.8pp | 27.0%+11.1pp | 15.8%+12.6pp | 3.2%-24.3pp | 27.5%+14.1pp | 13.3% |
| Net Margin | 14.0%+1.7pp | 12.4%+18.1pp | -5.7%-29.0pp | 23.3%+18.1pp | 5.2%+11.9pp | -6.8%-29.1pp | 22.4%+15.7pp | 6.7% |
| Return on Equity | 7.3%0.0pp | 7.3% | N/A | 20.4%+16.9pp | 3.6% | N/A | 17.3%+12.9pp | 4.5% |
| Return on Assets | 1.9%0.0pp | 1.9%+2.5pp | -0.6%-6.3pp | 5.7%+4.9pp | 0.8%+1.6pp | -0.8%-5.5pp | 4.8%+3.7pp | 1.1% |
| Current Ratio | 0.870.0 | 0.87+0.2 | 0.70-0.4 | 1.06+0.4 | 0.70+0.2 | 0.51-0.4 | 0.88+0.2 | 0.72 |
| Debt-to-Equity | 2.110.0 | 2.11+0.2 | 1.90-0.0 | 1.93-0.5 | 2.39+0.2 | 2.21+0.3 | 1.89-0.4 | 2.26 |
| FCF Margin | 8.5%+26.8pp | -18.2%-49.3pp | 31.1%+27.5pp | 3.5%+7.6pp | -4.0%-22.4pp | 18.4%+6.2pp | 12.2%+18.7pp | -6.5% |
Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Suburban Propane Partners's annual revenue?
Suburban Propane Partners (SPH) reported $1.4B in total revenue for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Suburban Propane Partners's revenue growing?
Suburban Propane Partners (SPH) revenue grew by 7.9% year-over-year, from $1.3B to $1.4B in fiscal year 2025.
Is Suburban Propane Partners profitable?
Yes, Suburban Propane Partners (SPH) reported a net income of $106.6M in fiscal year 2025, with a net profit margin of 7.4%.
What is Suburban Propane Partners's earnings per share (EPS)?
Suburban Propane Partners (SPH) reported diluted earnings per share of $1.62 for fiscal year 2025. This represents a 42.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Suburban Propane Partners's EBITDA?
Suburban Propane Partners (SPH) had EBITDA of $278.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Suburban Propane Partners have?
As of fiscal year 2025, Suburban Propane Partners (SPH) had $405K in cash and equivalents against $1.2B in long-term debt.
What is Suburban Propane Partners's gross margin?
Suburban Propane Partners (SPH) had a gross margin of 60.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Suburban Propane Partners's operating margin?
Suburban Propane Partners (SPH) had an operating margin of 14.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Suburban Propane Partners's net profit margin?
Suburban Propane Partners (SPH) had a net profit margin of 7.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Suburban Propane Partners's return on equity (ROE)?
Suburban Propane Partners (SPH) has a return on equity of 17.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Suburban Propane Partners's free cash flow?
Suburban Propane Partners (SPH) generated $114.3M in free cash flow during fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Suburban Propane Partners's operating cash flow?
Suburban Propane Partners (SPH) generated $186.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Suburban Propane Partners's total assets?
Suburban Propane Partners (SPH) had $2.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Suburban Propane Partners's capital expenditures?
Suburban Propane Partners (SPH) invested $72.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Suburban Propane Partners's current ratio?
Suburban Propane Partners (SPH) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Suburban Propane Partners's debt-to-equity ratio?
Suburban Propane Partners (SPH) had a debt-to-equity ratio of 2.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Suburban Propane Partners's return on assets (ROA)?
Suburban Propane Partners (SPH) had a return on assets of 4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Suburban Propane Partners's Piotroski F-Score?
Suburban Propane Partners (SPH) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Suburban Propane Partners's earnings high quality?
Suburban Propane Partners (SPH) has an earnings quality ratio of 1.75x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Suburban Propane Partners cover its interest payments?
Suburban Propane Partners (SPH) has an interest coverage ratio of 2.7x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Suburban Propane Partners?
Suburban Propane Partners (SPH) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.