Star Group, L.p. key statistics and ratios

In fiscal 2025, Star Group, L.p. had an operating margin of 6.4% and a current ratio of 0.59. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Star Group, L.p.: financial ratios, annual
Fiscal year	2009Sept 2009	2010Sept 2010	2011Sept 2011	2012Sept 2012	2013Sept 2013	2014Sept 2014	2015Sept 2015	2016Sept 2016	2017Sept 2017	2018Sept 2018	2019Sept 2019	2020Sept 2020	2021Sept 2021	2022Sept 2022	2023Sept 2023	2024Sept 2024	2025Sept 2025	LTMJun 2026
Gross margin	—	—	22.2%	19.9%	20.3%	20.7%	28.1%	33.8%	30.9%	27.6%	27.8%	32.4%	31.9%	24.1%	24.1%	28.4%	31.5%	—
Operating margin	6.6%	4.8%	4.2%	3.9%	3.8%	4.1%	5.6%	7.5%	4.2%	3.9%	2.1%	6.3%	8.7%	3.0%	3.2%	3.5%	6.4%	7.1%
Net margin	10.9%	2.3%	1.5%	1.7%	1.7%	1.8%	2.2%	3.9%	2.0%	3.3%	1.0%	3.8%	5.9%	1.8%	1.6%	2.0%	4.1%	4.6%
Free-cash-flow margin	6.1%	3.2%	2.1%	6.7%	0.7%	4.4%	7.6%	7.9%	0.7%	2.6%	4.9%	11.0%	3.6%	0.8%	5.9%	5.7%	3.1%	3.0%
Return on assets	—	4.9%	4.0%	4.1%	4.7%	5.5%	5.5%	6.5%	3.9%	7.9%	2.4%	7.0%	10.4%	4.0%	3.6%	3.9%	7.8%	9.0%
Asset turnover	—	2.08	2.62	2.36	2.74	2.98	2.44	1.69	1.94	2.39	2.37	1.84	1.77	2.27	2.18	1.95	1.90	1.96
Current ratio	—	1.26	1.44	1.32	1.39	1.17	0.97	1.02	0.89	0.91	0.70	0.66	0.64	0.76	0.70	0.75	0.59	0.87
Interest cover (operating income ÷ interest)	4.5x	4.1x	4.3x	4.1x	4.6x	4.7x	—	—	—	—	—	—	—	—	—	—	—	—
Effective tax rate	—	35.6%	48.3%	38.9%	40.0%	41.2%	46.6%	42.9%	43.1%	12.0%	29.9%	26.9%	27.7%	28.0%	30.4%	27.5%	28.6%	29.7%
Capital spending as % of revenue	0.4%	0.5%	0.4%	0.4%	0.3%	0.5%	0.6%	0.9%	0.9%	0.8%	0.6%	1.0%	1.0%	0.9%	0.5%	0.6%	0.8%	0.8%
Free cash flow ÷ net income	56.6%	137.2%	135.7%	384.9%	41.8%	238.5%	339.0%	204.4%	33.1%	79.0%	488.1%	288.9%	61.3%	43.1%	358.9%	284.8%	76.2%	65.0%
Dividends ÷ net income	—	71.9%	84.9%	75.1%	64.6%	55.0%	56.7%	51.4%	90.4%	46.1%	145.1%	43.7%	26.7%	65.7%	74.3%	71.1%	35.5%	30.4%
Dividends and buybacks ÷ free cash flow	—	52.4%	95.7%	39.2%	276.3%	25.0%	17.3%	38.2%	273.5%	119.3%	89.4%	38.9%	123.2%	355.2%	24.6%	36.0%	74.4%	66.3%

US$ thousands unless shown otherwise. Fiscal quarters.

Star Group, L.p.: financial ratios, quarterly
Quarter	2024 Q4Sept 2024	2025 Q1Dec 2024	2025 Q2Mar 2025	2025 Q3Jun 2025	2025 Q4Sept 2025	2026 Q1Dec 2025	2026 Q2Mar 2026	2026 Q3Jun 2026
Gross margin	24.1%	32.3%	13.8%	28.1%	24.0%	—	—	—
Operating margin	−20.2%	10.1%	16.9%	−6.3%	−16.5%	10.1%	20.5%	−9.5%
Net margin	−14.6%	6.7%	11.6%	−5.4%	−11.6%	6.6%	14.1%	−7.8%
Free-cash-flow margin	14.8%	−14.0%	6.2%	22.5%	4.0%	−11.1%	−1.2%	32.3%
Current ratio	0.75	0.83	0.86	0.70	0.59	0.74	0.99	0.87

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 3 checks passed · June 30, 2026

What it owns · $1.0bn

Short-term assets $292mLonger-term assets $718m

What it owes, and who funded it · $336m

Short-term liabilities $336m

Short-term assets cover short-term liabilities $292m of assets due within a year against $336m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $27m of cash against $173m of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $72m of operating cash flow against $173m of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Star Group, L.p.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

45 /100

Weak moat

How hard Star Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 7 / 20

Net income has been a median 5.4% of total assets over 10 years.
Pricing power 9 / 20

Gross margin has been a median 28.1%, moving by 3.7 percentage points (standard deviation) across 10 years.
Durability 3 / 20

Operating margin has been a median 4.4%; its worst year was 0.9%.
Cash conversion 11 / 20

Free cash flow was positive in 9 of 10 years, at a median 4.3% of revenue.
Discipline 15 / 20

The diluted share count fell 20.5% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Star Group, L.p.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Star Group, L.p.