Spire Inc (SR)

Financial leverage ratio

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	10,631,700	10,313,600	10,037,500	10,049,000	10,327,700	10,083,700	9,783,900	9,401,300	9,650,500	9,356,400	8,893,300	8,936,800	8,515,600	8,241,200	7,822,600	8,018,000	7,961,000	7,619,200	7,332,000	7,273,600
Total stockholders’ equity	US$ in thousands	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	2,543,000	2,612,600	2,406,000
Financial leverage ratio		3.48	3.54	3.42	3.36	3.61	3.58	3.44	3.31	3.61	3.52	3.30	3.27	3.29	3.27	3.06	3.01	3.08	3.00	2.81	3.02

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $10,631,700K ÷ $3,050,800K
= 3.48

The financial leverage ratio of Spire Inc. has exhibited some fluctuations over the past eight quarters, ranging from 3.30 to 3.59. The ratio indicates that the company has been relying more on debt financing compared to equity to fund its operations and growth initiatives.

The trend in the financial leverage ratio shows a slight increase in the most recent quarter, Q1 2024, compared to Q4 2023. This could suggest a potentially higher level of debt in the company's capital structure during this period.

Overall, the financial leverage ratio of Spire Inc. has remained above 3 consistently, indicating that the company has a relatively high level of financial leverage, which may pose risks in terms of debt repayment obligations and financial stability. It is essential for stakeholders and investors to closely monitor the company's leverage levels and financial health to assess any potential impacts on its long-term sustainability and profitability.