Suburban Propane Partners, L.P. (SPH) AI Stock Analysis

Suburban Propane Partners, L.P. operates as a retail marketer and distributor of propane, renewable propane, fuel oil, and refined fuels across the United States. The partnership operates through four primary segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. Its Propane segment supplies fuel for residential space heating, water heating, cooking, motor fuel, and industrial cutting gas. The Fuel Oil and Refined Fuels unit distributes fuel oil, diesel, kerosene, and gasoline. It also markets natural gas and electricity in deregulated markets in New York and Pennsylvania, and installs and services home comfort heating equipment across a network of 700 locations.

Suburban Propane generated $1.43B in revenue in FY2025, recovering 7.9% after revenue declined 4.8% in FY2023 to $1.43B and fell 7.1% in FY2024 to $1.33B. Net income in FY2025 totaled $106.6M with diluted EPS of $1.91, up from $74.2M and EPS of $1.68 in FY2024. Over the 5-year period from FY2020 to FY2025, revenue posted a CAGR of 5.3%. Operating margin stood at 14.4% in FY2025 compared to 16.5% in FY2021. For the trailing twelve months ended June 30, 2026, revenue was $1.39B with an operating margin of 0.8%. In the latest quarter, quarterly revenue grew 0.5% year-over-year while quarterly earnings declined 1.9%.

As of June 30, 2026, Suburban Propane held $5.0M in cash and short-term investments against $1.33B in total debt, resulting in net debt of $1.32B. The partnership carries a debt-to-equity ratio of 1.86 and a current ratio of 0.78, with shareholders' equity at $713.0M. During FY2025, operating cash flow reached $186.3M and free cash flow was $114.3M. Cash outflows included $72.0M in capital expenditures and $84.2M paid in dividends, alongside $23.5M raised through share issuance.

Suburban Propane trades at a trailing P/E of 9.1x and a forward P/E of 16.6x, compared to medians of 20.6x and 17.2x, respectively, for its US-listed Utilities peer group. Its EV/EBITDA of 8.9x and price-to-sales ratio of 0.8x also sit below the peer group medians of 12.1x and 2.4x. SPH units have lagged broader equity benchmarks, gaining 1.3% over the past year and 58.8% over five years, compared to returns of 16.8% and 83.0% for the S&P 500 (SPY).

SPH pays a quarterly distribution totaling an annual forward dividend of $1.30 per unit, representing a dividend yield of 7.44%. The payout ratio stands at 65.7%, supported by 31 consecutive years of payments. However, the annualized 5-year dividend growth rate declined 6.3%. The most recent ex-dividend date occurred on August 4, 2026.

Wall Street coverage includes 2 analysts, consisting of 1 Strong Buy and 1 Strong Sell rating. The mean price target is $17.00, representing a 2.7% discount to the last close of $17.48. Consensus forecasts estimate FY2026 revenue of $1.40B and EPS of $1.93, with FY2027 revenue projected at $1.45B. The company beat EPS estimates in 1 of the last 4 quarters, and the next earnings date is November 12, 2026.

This page is an AI-written research summary of Suburban Propane Partners, L.P. (SPH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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