Spire Inc (SR)

Solvency ratios

	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
Debt-to-assets ratio	0.34	0.32	0.32	0.31	0.34	0.35	0.37	0.31	0.29	0.33	0.34	0.33	0.31	0.33	0.30	0.30	0.29	0.32	0.31	0.31
Debt-to-capital ratio	0.53	0.51	0.50	0.52	0.55	0.55	0.55	0.52	0.51	0.53	0.53	0.55	0.53	0.52	0.50	0.49	0.49	0.49	0.48	0.49
Debt-to-equity ratio	1.15	1.03	1.01	1.06	1.22	1.21	1.24	1.10	1.05	1.13	1.13	1.20	1.11	1.09	0.99	0.97	0.96	0.97	0.93	0.96
Financial leverage ratio	3.36	3.21	3.16	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

Based on the solvency ratios of Spire Inc over the past few quarters, we can observe the following trends:

1. Debt-to-assets ratio: This ratio has been relatively stable over the period, ranging between 0.29 and 0.37. This suggests that around 29% to 37% of the company's assets have been financed by debt, with a decreasing trend in recent quarters.

2. Debt-to-capital ratio: Similarly, the debt-to-capital ratio has shown consistency, fluctuating between 0.48 and 0.55. This indicates that between 48% and 55% of the company's capital structure has been financed through debt.

3. Debt-to-equity ratio: The debt-to-equity ratio has displayed more variability compared to the other ratios, ranging from 0.93 to 1.24. This implies that the company's financial leverage has been influenced by shifts in the proportion of debt and equity in its capital structure.

4. Financial leverage ratio: The financial leverage ratio has also exhibited fluctuations, with values between 3.01 and 3.61. This ratio reflects the company's use of debt to support its operations and investments.

Overall, Spire Inc's solvency ratios indicate a consistent reliance on debt in its capital structure, with some variations observed in the degree of leverage over the periods analyzed. It is important for the company to monitor these ratios to ensure an optimal balance between debt and equity to maintain financial stability and meet its long-term obligations.

Coverage ratios

	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
Interest coverage	2.54	2.48	2.43	2.30	2.38	3.30	3.70	4.03	4.08	4.15	4.30	4.52	4.97	4.15	2.95	2.26	1.96	1.76	2.85	3.08

Interest coverage is a financial ratio that indicates a company's ability to cover its interest expenses with its earnings before interest and taxes (EBIT). A higher interest coverage ratio indicates a greater ability to meet interest payment obligations.

Analyzing the interest coverage ratio of Spire Inc over the past few quarters, we observe fluctuations in the company's ability to cover its interest expenses. The interest coverage ratio has ranged from a low of 1.76 in December 2019 to a high of 4.97 in June 2021.

In the most recent quarter as of September 30, 2024, the interest coverage ratio stands at 2.54. This implies that Spire Inc generated earnings that were 2.54 times its interest expense during the period. While the ratio is above 1, indicating that the company's earnings are currently sufficient to cover its interest payments, it has decreased slightly from the previous quarter.

Overall, a consistent analysis of the interest coverage ratio over multiple periods provides insights into the company's ability to manage its interest expenses and its financial health. Investors and lenders often consider this ratio as an important indicator of financial risk and stability in a company.