Spire Inc (SR)

Return on equity (ROE)

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Net income (ttm)	US$ in thousands	250,900	245,700	236,700	211,600	217,500	339,600	359,800	354,200	318,900	283,600	290,300	304,100	337,300	261,900	164,300	110,500	88,600	74,000	163,300	184,300
Total stockholders’ equity	US$ in thousands	3,232,700	3,333,200	3,390,300	3,050,800	2,917,300	2,932,500	2,986,500	2,864,100	2,818,500	2,845,900	2,841,200	2,669,800	2,658,200	2,697,100	2,731,300	2,586,800	2,522,300	2,558,400	2,665,600	2,586,000
ROE		7.76%	7.37%	6.98%	6.94%	7.46%	11.58%	12.05%	12.37%	11.31%	9.97%	10.22%	11.39%	12.69%	9.71%	6.02%	4.27%	3.51%	2.89%	6.13%	7.13%

September 30, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $250,900K ÷ $3,232,700K
= 7.76%

The return on equity (ROE) for Spire Inc has exhibited fluctuating trends over the periods presented. The ROE was relatively stable around 7-8% in recent quarters, indicating the company's ability to generate a modest return for shareholders relative to its equity base. However, there was a notable decline from the previous high levels of ROE above 10% in the quarters ending in March 2023 and June 2023.

The ROE spiked in the quarter ending March 2023 to 12.05% and increased further to 11.58% in the following quarter before experiencing a downward trend. These high ROE levels in early 2023 could indicate efficient utilization of equity to generate profits.

It is important to identify the factors driving the fluctuations in ROE, such as changes in profitability, asset efficiency, or financial leverage. Additionally, a comparison with industry peers or historical performance can provide additional insights into Spire Inc's financial performance.

Overall, the recent ROE figures suggest that Spire Inc's profitability relative to its equity base has been relatively stable but on a downward trajectory in the most recent quarters. Further analysis of the company's financial statements and operating performance is recommended to better understand the drivers behind these trends and to assess the company's future prospects.