Sempra (SRE)
Utilities · $52.9B market cap · SEC CIK 0001032208
fundamentals score out of 100
Next reports on Nov 3, 2026, before the open, with analysts expecting $1.14 in earnings per share.
The case for SRE
- Pays a 3.2% dividend while you wait.
- Moves less than the market (beta 0.58).
The case against
- Burned $6.0B of free cash in FY2025.
- Priced at 23.2× earnings while earnings per share are shrinking (-17.1%).
- Earnings per share fell 17.1%.
- Near the bottom of its 52-week range, 20% below the high. Falling prices usually have a reason; find it first.
- Return on equity of only 7%.
- Free-cash-flow yield of -11.4% is lower than 96% of Utilities companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Utilities companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 30 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 19 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 34 |
| Momentumhow the price has behaved lately | 26 |
| Stabilityhow violently it moves, what it owes and what it pays you | 81 |
- Each factor except momentum is half fixed thresholds, half rank among the 31 Utilities companies.
Key numbers
| Price / earnings | 23.2× |
|---|---|
| Price / book | 1.85× |
| Price / sales | 4.5× |
| Revenue growth (YoY) | +1.4% |
| EPS growth (YoY) | -17.1% |
| Gross margin | — |
| Operating margin | 30% |
| Net margin | 19% |
| Return on equity | 7% |
| Debt / equity | 1.12× |
| Current ratio | 1.64 |
| Dividend yield | 3.23% |
| Beta | 0.58 |
| 52-week range | $79.59 – $101.04 |
| Position in that range | 6% of the way up |
| 3-month return | -10.5% |
| 1-year return | -2.4% |
Five years of financials, as filed
Pulled from Sempra's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $12.4B | $11.8B | $14.8B | $13.7B | $11.7B |
| Net income | $1.8B | $2.9B | $3.1B | $2.1B | $1.3B |
| Operating cash flow | $4.6B | $4.9B | $6.2B | $1.1B | $3.8B |
| Capital expenditure | $10.6B | $8.2B | $8.4B | $5.4B | $5.0B |
| Total assets | $111B | $96.2B | $87.2B | $78.6B | $72.0B |
| Shareholder equity | $31.6B | $31.2B | $28.7B | $27.1B | $26.0B |
| Cash | $29.0M | $1.6B | $236M | $370M | $559M |
| Free cash flow | -$6.0B | -$3.3B | -$2.2B | -$4.2B | -$1.2B |
| Net margin | 14.8% | 24.2% | 20.7% | 15.6% | 11.3% |
| Diluted shares | 654M | 638M | 633M | 633M | 626M |
Share count is up 4.4% over 4 years. Mild issuance.
What Sempra says it does
– Other Matters – Information About Our Executive Officers." ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE We provide the information required by Item 401 of SEC Regulation S-K, as required by this item, with respect to executive officers of Sempra and SoCalGas in "Part I – Item 1. Business – Other Matters – Information About Our Executive Officers." The other information required by this item is incorporated by reference from "Corporate Governance" and "Proposal 1: Election of Directors" in the proxy statement to be filed for the May 2026 annual meeting of shareholders for Sempra and from the information statement to be filed for the June 2026 annual meeting of shareholders for SoCalGas. In all cases, only the specific information that is expressly required by this item is incorporated herein by reference. Sempra’s insider trading and information confidentiality policy is incorporated by reference as Exhibit 19.1 to…
Risk factors SRE lists in its 10-K
- (Dollars and shares in millions, except per share amounts)
- Earnings attributable to common shares
- Utilities: Natural Gas Revenues and Cost of Natural Gas
- Excludes depreciation and amortization, which are presented separately on Sempra’s Consolidated Statements of Operations
- Utilities: Electric Revenues and Cost of Electric Fuel and Purchased Power
- Energy-Related Businesses: Revenues and Cost of Sales
- Includes eliminations of intercompany activity
- We discuss how we recognize equity earnings in Note 5 of the Notes to Consolidated Financial Statements
- Earnings Attributable to Noncontrolling Interests
- Electric Revenues and Cost of Electric Fuel and Purchased Power
- Natural Gas Revenues and Cost of Natural Gas
- Redemption of Series C Preferred Stock
- ATM Program and Forward Sales Agreements
- Reflects the senior unsecured rating, as no issuer credit rating is available