A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
SUBURBAN PROPANE PARTNERS LP
SPH
$1.2B
Mkt Cap
$18.56
+1.20%
SUBURBAN PROPANE PARTNERS LP (SPH) has a current P/E ratio of 9.2, compared to its historical median P/E of 10.7. The stock is currently considered Fair based on its historical valuation range.
SUBURBAN PROPANE PARTNERS LP (SPH) has a 5-year average return on invested capital (ROIC) of 12.1%. This indicates solid capital allocation.
SUBURBAN PROPANE PARTNERS LP (SPH) has a market capitalization of $1M. It is classified as a small-cap stock.
SUBURBAN PROPANE PARTNERS LP (SPH) does not currently pay a regular dividend.
Based on historical P/E analysis, SUBURBAN PROPANE PARTNERS LP (SPH) appears fair. The current P/E of 9.2 is 13% below its historical median of 10.7. The estimated fair value CAGR (P/E method) is 5.3%.
SUBURBAN PROPANE PARTNERS LP (SPH) operates in the Retail-Miscellaneous Retail industry, within the Consumer Cyclical sector.
SUBURBAN PROPANE PARTNERS LP (SPH) reported annual revenue of $1.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Development of Business Suburban Propane Partners, L.P. (the “Partnership”), a publicly traded Delaware limited partnership, is a nationwide marketer and distributor of a diverse array of products meeting the energy needs of our customers. We specialize in the distribution of propane, renewable propane, renewable natural gas (“RNG”), fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets and production of and investing in low-carbon fuel alternatives. In support of our core marketing and distribution operations, we install and service a variety of home comfort equipment, particularly in the areas of heating and ventilation. We believe, based on LP/Gas Magazine dated February 2025, that we are the third-largest retail marketer of propane in the United States, measured by retail gallons sold in calendar year 2024. As of September 27, 2025, we were serving the energy needs of approximately 1.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.4B | 1.4B | 1.3B | 1.4B | 1.5B | 1.3B |
| Net Income | 133M | 107M | 74M | 124M | 140M | 123M |
| EPS | $2,522.85 | $1.62 | $1.14 | $1.92 | $2.18 | $1.94 |
| Free Cash Flow | 133M | 114M | 101M | 180M | 176M | 197M |
| ROIC | 10.6% | 11.4% | 9.7% | 12.5% | 13.2% | 13.6% |
| Gross Margin | - | 60.6% | 60.7% | 58.7% | 52.6% | 62.3% |
| Debt/Equity | 1.69 | 2.02 | 2.21 | 2.17 | 2.17 | 2.63 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 214M | 206M | 171M | 207M | 206M | 213M |
| Operating Margin | 15.4% | 14.4% | 12.9% | 14.5% | 13.7% | 16.5% |
| ROE | 17.9% | 18.6% | 13.6% | 23.7% | 30.3% | 31.2% |
| Shares Outstanding | 0M | 66M | 65M | 64M | 64M | 63M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.9B | 1.4B | 1.0B | 1.2B | 1.3B | 1.3B | 1.1B | 1.3B | 1.5B | 1.4B | 1.3B | 1.4B | 1.4B |
| Gross Margin | 44.2% | 58.1% | 65.4% | 59.9% | 55.9% | 58.8% | 65.4% | 62.3% | 52.6% | 58.7% | 60.7% | 60.6% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 65M | 68M | 61M | 57M | 66M | 71M | 66M | 74M | 82M | 92M | 90M | 96M | 98M |
| EBIT | 190M | 178M | 90M | 129M | 158M | 151M | 140M | 213M | 206M | 207M | 171M | 206M | 214M |
| Op. Margin | 9.8% | 12.5% | 8.6% | 10.8% | 11.8% | 11.9% | 12.7% | 16.5% | 13.7% | 14.5% | 12.9% | 14.4% | 15.4% |
| Net Income | 95M | 84M | 14M | 38M | 77M | 69M | 61M | 123M | 140M | 124M | 74M | 107M | 133M |
| Net Margin | 4.9% | 6.0% | 1.4% | 3.2% | 5.7% | 5.4% | 5.5% | 9.5% | 9.3% | 8.7% | 5.6% | 7.4% | 9.6% |
| Non-Recurring | 0 | 0 | 9.8M | 0 | -4.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.5% | 8.5% | 4.5% | 6.8% | 8.9% | 8.8% | 8.7% | 13.6% | 13.2% | 12.5% | 9.7% | 11.4% | 10.6% |
| ROE | 8.8% | 8.8% | 1.8% | 6.0% | 14.6% | 15.0% | 15.5% | 31.2% | 30.3% | 23.7% | 13.6% | 18.6% | 17.9% |
| ROA | 3.5% | 3.3% | 0.6% | 1.7% | 3.6% | 3.3% | 3.0% | 6.0% | 6.7% | 5.7% | 3.3% | 4.7% | 5.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 226M | 324M | 157M | 164M | 210M | 227M | 209M | 227M | 221M | 225M | 161M | 186M | 206M |
| Free Cash Flow | 195M | 283M | 119M | 136M | 178M | 192M | 177M | 197M | 176M | 180M | 101M | 114M | 133M |
| Owner Earnings | 89M | 191M | 27M | 35M | 84M | 106M | 93M | 122M | 162M | 163M | 94M | 114M | 136M |
| CapEx | 30M | 41M | 38M | 28M | 33M | 35M | 32M | 30M | 44M | 45M | 59M | 72M | 73M |
| Maint. CapEx | 136M | 133M | 130M | 128M | 125M | 121M | 117M | 105M | 59M | 63M | 67M | 72M | 70M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.9M |
| D&A | 136M | 133M | 130M | 128M | 125M | 121M | 117M | 105M | 59M | 63M | 67M | 72M | 70M |
| CapEx/OCF | 13.3% | 12.7% | 24.4% | 17.5% | 15.6% | 15.4% | 15.5% | 13.2% | 20.1% | 20.0% | 37.0% | 38.6% | 35.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | 313K | 974K | 847K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 4.6M | 2.7M | 7.1M | 0 | 0 | 0 | 786M | 0 | 0 | 3.7M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 1.2B | 1.1B | 1.2B | 1.3B | 1.2B | 1.2B | 1.2B | 1.1B | 1.1B | 1.2B | 1.2B | 1.2B | 1.3B |
| Cash & Equiv. | 93M | 152M | 37M | 2.8M | 5.2M | 2.4M | 3.1M | 5.8M | 4.1M | 3.5M | 3.2M | 405K | 4.3M |
| Long-Term Debt | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B | 1.2B | 1.2B | 1.1B | 1.1B | 1.2B | 1.2B | 1.2B | 1.3B |
| Debt/Equity | 1.22 | 1.38 | 1.73 | 2.30 | 2.54 | 2.90 | 3.34 | 2.63 | 2.17 | 2.17 | 2.21 | 2.02 | 1.69 |
| Interest Coverage | 2.3 | 2.3 | 1.2 | 1.7 | 2.0 | 2.0 | 1.9 | 3.1 | 3.4 | 2.8 | 2.3 | 2.7 | 2.8 |
| Equity | 1.0B | 898M | 708M | 553M | 494M | 424M | 362M | 425M | 498M | 546M | 547M | 599M | 744M |
| Total Assets | 2.6B | 2.5B | 2.3B | 2.2B | 2.1B | 2.0B | 2.0B | 2.1B | 2.1B | 2.3B | 2.3B | 2.3B | 2.4B |
| Total Liabilities | 1.6B | 1.6B | 1.6B | 1.6B | 1.6B | 1.6B | 1.7B | 1.6B | 1.6B | 1.7B | 1.7B | 1.7B | 1.7B |
| Intangibles | 359M | 308M | 276M | 220M | 175M | 128M | 84M | 39M | 40M | 81M | 75M | 85M | 87M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | 73M | 63M | -58M | -71M | -61M | -93M | -129M | -107M | -132M | -144M | -149M | -137M | 20M |
| Current Assets | 295M | 273M | 147M | 139M | 158M | 123M | 116M | 180M | 175M | 164M | 158M | 166M | 267M |
| Current Liabilities | 222M | 210M | 205M | 210M | 219M | 216M | 245M | 287M | 307M | 308M | 306M | 303M | 248M |
| Per Share Data | |||||||||||||
| EPS | 1.56 | 1.38 | 0.24 | 0.62 | 1.24 | 1.10 | 0.97 | 1.94 | 2.18 | 1.92 | 1.14 | 1.62 | 2,522.85 |
| Owner EPS | 1.47 | 3.12 | 0.46 | 0.57 | 1.37 | 1.70 | 1.48 | 1.93 | 2.52 | 2.52 | 1.44 | 1.74 | 2,031.31 |
| Book Value | 16.86 | 14.70 | 11.77 | 9.02 | 8.00 | 6.79 | 5.79 | 6.72 | 7.76 | 8.48 | 8.41 | 9.10 | 11,150.95 |
| Cash Flow/Share | 3.72 | 5.30 | 2.62 | 2.67 | 3.41 | 3.63 | 3.34 | 3.58 | 3.44 | 3.49 | 2.47 | 2.83 | 3,055.06 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 60.6M | 61.1M | 60.2M | 61.3M | 61.7M | 62.4M | 62.6M | 63.3M | 64.1M | 64.5M | 65.1M | 65.8M | 0.1M |
| Valuation | |||||||||||||
| P/E Ratio | 10.0 | 8.9 | 59.9 | 20.0 | 10.1 | 12.7 | 10.2 | 5.7 | 5.7 | 7.0 | 14.1 | 11.1 | 0.0 |
| P/FCF | 4.8 | 2.7 | 7.3 | 5.6 | 4.3 | 4.5 | 3.5 | 3.5 | 4.5 | 4.8 | 10.4 | 10.3 | 0.0 |
| EV/EBIT | 11.0 | 10.3 | 22.7 | 17.6 | 12.8 | 13.9 | 13.0 | N/A | 9.0 | 9.9 | 13.2 | 11.6 | 5.9 |
| Price/Book | 0.9 | 0.8 | 1.2 | 1.4 | 1.6 | 2.1 | 1.7 | N/A | 1.6 | 1.6 | 1.9 | 2.0 | 0.0 |
| Price/Sales | 0.5 | 0.7 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | 523.8 | 0.5 | 0.6 | 0.8 | 0.8 | 0.0 |
| FCF Yield | 20.7% | 37.7% | 13.8% | 17.8% | 23.0% | 22.0% | 28.5% | 0.0% | 22.3% | 20.8% | 9.6% | 9.7% | 10711.6% |
| Market Cap | 945M | 750M | 865M | 762M | 770M | 872M | 621M | 697.2B | 790M | 867M | 1.0B | 1.2B | 1.2M |
| Avg. Price | 15.12 | 15.26 | 12.38 | 12.16 | 12.07 | 12.84 | 10.94 | 10.63 | 11.80 | 12.44 | 16.25 | 17.94 | 18.56 |
| Year-End Price | 15.59 | 12.27 | 14.38 | 12.43 | 12.48 | 13.98 | 9.92 | 10.98 | 12.33 | 13.45 | 16.12 | 17.94 | 18.56 |
SUBURBAN PROPANE PARTNERS LP passes 3 of 9 quality checks, indicating weak fundamentals.
SUBURBAN PROPANE PARTNERS LP trades at 9.2x trailing earnings, compared to its 15-year median P/E of 10.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.9x vs a median of 4.7x. The company's 5-year average ROIC is 12.1% with a gross margin of 59.0%. At current prices, the estimated annualized return to fair value is -5.2%.
SUBURBAN PROPANE PARTNERS LP (SPH) has a net profit margin of 7.4%. This is a modest margin.
SUBURBAN PROPANE PARTNERS LP (SPH) generated $114 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SUBURBAN PROPANE PARTNERS LP (SPH) has a debt-to-equity ratio of 2.02. This indicates higher leverage, which may increase financial risk.
SUBURBAN PROPANE PARTNERS LP (SPH) reported earnings per share (EPS) of $1.62 in its most recent fiscal year.
SUBURBAN PROPANE PARTNERS LP (SPH) has a return on equity (ROE) of 18.6%. This indicates the company generates strong returns for shareholders.
SUBURBAN PROPANE PARTNERS LP (SPH) has a 5-year average gross margin of 59.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for SUBURBAN PROPANE PARTNERS LP (SPH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SUBURBAN PROPANE PARTNERS LP (SPH) has a book value per share of $9.10, based on its most recent annual SEC filing.