Suburban Propane Partners (SPH) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Suburban Propane Partners

NYSE•Utilities•Utilities - Regulated Gas

$17.520.00(0.00%)Market closed

Market Cap

$1.12B

P/E

8.5x

P/S

0.8x

P/B

1.6x

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, renewable natural gas, fuel oil, and refined fuels in the United States. It operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane for space heating, water heating, cooking, and clothes drying for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets. It also engages in the wholesale distribution of propane to industrial end users. Its Fuel Oil and Refined Fuels segment engages in the retail distribution of fuel oil, diesel, kerosene, and gasoline to residential and commercial customers for use in primarily as a source of heat in homes and buildings. The Natural Gas and Electricity segment markets natural gas and electricity to residential and commercial customers in the deregulated energy markets. Its All Other segment sells, installs, and services a range of home comfort equipment, including whole-house heating products, air cleaners, humidifiers, and space heaters. The company serves residential, commercial, industrial, and agricultural customers. Suburban Propane Partners, L.P. was founded in 1945 and is based in Whippany, New Jersey.

How this company scores

WeakMetricSide Score: 50/100

Grade capped at D — Interest coverage below 1× (0.1x) — earnings cannot cover interest. Strongest: Profitability (22/25); weakest: Balance Sheet & Red Flags (7/25).

Profitability22/25

Growth13/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality8/25

Strengths

Strong marginsHigh ROERising earningsProfit converts from growth

Grade capped at D

Interest coverage below 1× (0.1x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 8.5x5y range 5.5x – 16.1x

Currently near its 20-quarter median.

P/S · 0.8x5y range 0.6x – 1.0x

Currently near its 20-quarter median.

P/B · 1.6x5y range 1.6x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -1.4x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $1.12B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.39B
Q. Revenue: $261.38M
TTM EBITDA: $279.43M
TTM Op. Income: $211.03M
Q. Op. Income: $2.22M
TTM Net Income: $130.66M
Q. Net Income: $-17.53M
EPS: $-0.26
Shares Out.: $66.68M

$1.39B in TTM revenue declined 2.5% YoY, reaching $261.38M last quarter. TTM EBITDA of $279.43M and TTM operating income of $211.03M show growth is flowing through to the bottom line. TTM net income of $130.66M means revenue is converting into profit. Over the past year, TTM revenue is down 2% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 61.3%
EBITDA Margin: 7.2%
Op. Margin: 0.9%
Net Margin: -6.7%

Op. margin of 0.9% is down 1.3% YoY — costs are rising relative to revenue. Net margin at -6.7% and gross margin of 61.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 60% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 8.5x
P/S Ratio: 0.8x
P/B Ratio: 1.6x

At 8.5x P/E, the stock trades below typical market levels. P/S of 0.8x and P/B of 1.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 32% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.36B
Cash: $5.03M
Long-Term Debt: $1.22B
Book Value: $713.02M
D/E Ratio: 1.7
Debt/EBITDA: 64.8

With $2.36B in assets and $1.22B in long-term debt, D/E is 1.7and book value is $713.02M — moderate leverage. Over the past year, debt/equity is down 9% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $70.98M
TTM Free Cash Flow: $101.29M
FCF Margin: 7.3%
FCF / Net Income: 0.8

TTM FCF of $101.29M on $70.98M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 3% — a weakening trend.