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Suburban Propane Partners LP (SPH) stock

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NYSE: SPH NYSE Gas Utilities Next results ~November 12, 2026

C Fundamentals grade

Suburban Propane Partners LP is a US-listed company in the gas utilities industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Suburban Propane Partners LP valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds53 adding, 50 cuttingOf 4 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Suburban Propane Partners files

Where Suburban Propane Partners LP stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.39bn, down 2.5% on a year earlier, about the same pace as a quarter earlier. That puts it 8 of 8 for growth among the gas utilities companies we cover. Free-cash-flow margin held at 7.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 5 financial-health checks.

Our model value for Suburban Propane Partners is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Suburban Propane Partners LP's trailing-twelve-month revenue fell 2.5% year on year, with a free-cash-flow margin of 7.3%. Where it stands out: days sales outstanding of 22 days ranks 2 of 8 gas utilities companies we cover. Where it lags: revenue growth of -2.5% ranks 12 of 12 gas utilities companies we cover.

Our discounted-cash-flow model values the business at ~$25 per share in the base case (~$14–$39 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2.9% while net income grew 34.5%: a 37pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 12.4% over 90 days.

Things to watch

  • Results due soon. Results are expected around 12 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 2.5% over the last 12 months.
  • Weak cash conversion. Free cash flow was 78% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 51.9% ranks 12 of 12 gas utilities companies we cover (median 39.9%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q3

Filed August 6, 2026
Earnings per share
-$0.27 against an average estimate of -$0.15: missed by 76.9%
Revenue
$261m, up 0.5% on a year earlier
Share reaction
-0.8% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 12, 2026; average EPS estimate -$0.58

Suburban Propane Partners' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-0.9%
  • 1 month+6.8%
  • This year+0.9%
  • 1 year+4.5%
  • 5 years+65.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
15.1%
Net margin
9.4%

Growth

Revenue growth
−2.5%
Change in growth rate
−0.3 pts

Cash

Free cash flow (TTM)
$101M
FCF margin
7.3%

Earnings

Last results
August 6, 2026
Next results (est.)
November 12, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Announcement
  4. Results
  5. Announcement
  6. Announcement
  7. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Suburban Propane Partners LP valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Suburban Propane Partners LP as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.5 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$40 ~$33–$51 Included
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$34 ~$35–$47 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Suburban Propane Partners LP with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025
Share price$14.01$12.10$12.06$13.52$9.47$10.50$11.89$13.08$15.58$17.34
Market value$857m$745m$746m$843m$594m$665m$761m$843m$1.0bn$1.1bn
+ Net debt (− = net cash)$1.2bn$1.3bn$1.3bn$1.2bn$1.2bn$1.1bn$1.1bn$1.2bn$1.2bn$1.2bn
Enterprise value$2.1bn$2.0bn$2.0bn$2.1bn$1.8bn$1.8bn$1.8bn$2.0bn$2.2bn$2.4bn
Multiples
Price / sales 0.8x0.6x0.6x0.7x0.5x0.5x0.5x0.6x0.8x0.8x
Price / earnings 59.4x19.6x9.7x12.3x9.8x5.4x5.4x6.8x13.6x10.7x
Price / free cash flow 7.2x5.5x4.2x4.4x3.4x3.4x4.3x4.7x10.0x10.0x
EV / EBITDA 9.4x7.9x7.1x7.7x7.0x5.6x7.0x7.6x9.3x8.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Suburban Propane Partners'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 4 / 20

    Net income has been a median 4.1% of total assets over 10 years.

  • Pricing power 18 / 20

    Gross margin has been a median 59.9%, moving by 3.5 percentage points (standard deviation) across 9 years.

  • Durability 13 / 20

    Operating margin has been a median 13.4%; its worst year was 9.0%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 11.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 3.8% 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.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $217m and EPS of −$0.58 (range −$0.58 to −$0.58) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.93 −1% $1.4bn −2%
Next $2.08 +8% $1.5bn +4%

Next year's EPS estimate has moved +12.4% in 90 days, across 1 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.15 −$0.27 −76.9%
Mar 2026 $1.98 $2.08 +5.1%
Dec 2025 $0.75 $0.70 −6.6%
Sept 2025 −$0.51 −$0.54 −6.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

2 analysts, Oct 2026
Buy150%
Hold00%
Sell150%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112

Counts of recommendations published by analysts covering Suburban Propane Partners LP, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.9%
of tradable shares
Days to cover
2.22
at average volume
Short interest, 1 month
+85%
to September 30, 2026
Held by institutions
44%
of shares
Held by insiders
1.6%
of shares
Employees
3,190
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +4.5%

$17.03 on October 31, 2025 to $17.80

ThenNowEffect
Revenue (last 12 months) $1.4bn $1.4bn −2.5%
Net margin 6.8% 9.4% +38.0%
P/E multiple 11.4x 9.0x −20.6%
Share count 65m 66m −2.1%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SPH+7%+12%+27%+4%+15%+1%
Industry peers (median)+16%+1%−9%+13%+16%+11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SPH58%67%58%50%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SPH−12%−17%−13%−20%−19%−19%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 57% from June 6, 2016 to March 18, 2020. Getting back needed a 132% gain, reached on December 20, 2023, 1372 days after the low.

Price behaviour

52-week range
$16.26 – $20.09
From 52-week high
−11.4%
vs 50-day average
+3.3%
vs 200-day average
−3.1%
Volatility (1 year)
21%
Beta vs S&P 500
-0.06

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±2.9%
After a week
5 up, 7 down
typical move ±2.4%
After a month
8 up, 4 down
typical move ±3.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.8% +0.5% −1.7% −1.9%
May 7, 2026 +3.5% +0.5% +6.2% +0.6%
February 5, 2026 −1.3% +0.6% 0.0% +2.6%
November 13, 2025 +3.8% −1.7% −0.2% +1.2%
August 7, 2025 −0.3% +0.7% +3.7% +2.3%
May 8, 2025 −5.7% +0.6% −3.2% −9.1%
February 6, 2025 −2.5% −0.6% −0.8% −7.6%
November 14, 2024 −6.2% −1.9% −3.3% −3.8%
August 8, 2024 +0.7% +2.8% +1.1% +3.7%
May 9, 2024 −7.7% +0.7% −6.0% +5.3%
February 8, 2024 −1.2% +0.6% +0.1% +6.3%
November 9, 2023 +0.6% +0.8% +2.4% +2.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Suburban Propane Partners LP in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Suburban Propane Partners LP
$1.3B $1.4B $1.4B $1.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.4B Revenue (TTM), FY24 Q1: $1.4B Revenue (TTM), FY24 Q2: $1.4B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.3B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.4B Revenue (TTM), FY25 Q3: $1.4B Revenue (TTM), FY25 Q4: $1.4B Revenue (TTM), FY26 Q1: $1.4B Revenue (TTM), FY26 Q2: $1.4B Revenue (TTM), FY26 Q3: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.4B
FY24 Q1 $1.4B
FY24 Q2 $1.4B
FY24 Q3 $1.3B
FY24 Q4 $1.3B
FY25 Q1 $1.3B
FY25 Q2 $1.4B
FY25 Q3 $1.4B
FY25 Q4 $1.4B
FY26 Q1 $1.4B
FY26 Q2 $1.4B
FY26 Q3 $1.4B
Revenue growth, TTM YoY Suburban Propane Partners LP
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -4.8% Revenue growth, TTM YoY, FY24 Q1: -8.3% Revenue growth, TTM YoY, FY24 Q2: -6.3% Revenue growth, TTM YoY, FY24 Q3: -6.6% Revenue growth, TTM YoY, FY24 Q4: -7.1% Revenue growth, TTM YoY, FY25 Q1: -4.5% Revenue growth, TTM YoY, FY25 Q2: 4.0% Revenue growth, TTM YoY, FY25 Q3: 6.3% Revenue growth, TTM YoY, FY25 Q4: 7.9% Revenue growth, TTM YoY, FY26 Q1: 7.1% Revenue growth, TTM YoY, FY26 Q2: -2.2% Revenue growth, TTM YoY, FY26 Q3: -2.5% -2.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -4.8%
FY24 Q1 -8.3%
FY24 Q2 -6.3%
FY24 Q3 -6.6%
FY24 Q4 -7.1%
FY25 Q1 -4.5%
FY25 Q2 4.0%
FY25 Q3 6.3%
FY25 Q4 7.9%
FY26 Q1 7.1%
FY26 Q2 -2.2%
FY26 Q3 -2.5%
Operating margin (TTM) Suburban Propane Partners LP
12% 13% 14% 15% 16% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 14.5% Operating margin (TTM), FY24 Q1: 13.8% Operating margin (TTM), FY24 Q2: 14.9% Operating margin (TTM), FY24 Q3: 14.7% Operating margin (TTM), FY24 Q4: 12.9% Operating margin (TTM), FY25 Q1: 13.6% Operating margin (TTM), FY25 Q2: 14.3% Operating margin (TTM), FY25 Q3: 14.0% Operating margin (TTM), FY25 Q4: 14.4% Operating margin (TTM), FY26 Q1: 15.0% Operating margin (TTM), FY26 Q2: 15.4% Operating margin (TTM), FY26 Q3: 15.1% 15.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 14.5%
FY24 Q1 13.8%
FY24 Q2 14.9%
FY24 Q3 14.7%
FY24 Q4 12.9%
FY25 Q1 13.6%
FY25 Q2 14.3%
FY25 Q3 14.0%
FY25 Q4 14.4%
FY26 Q1 15.0%
FY26 Q2 15.4%
FY26 Q3 15.1%
FCF margin (TTM) Suburban Propane Partners LP
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 12.6% FCF margin (TTM), FY24 Q1: 11.5% FCF margin (TTM), FY24 Q2: 9.9% FCF margin (TTM), FY24 Q3: 9.6% FCF margin (TTM), FY24 Q4: 7.6% FCF margin (TTM), FY25 Q1: 8.2% FCF margin (TTM), FY25 Q2: 4.9% FCF margin (TTM), FY25 Q3: 7.3% FCF margin (TTM), FY25 Q4: 8.0% FCF margin (TTM), FY26 Q1: 4.3% FCF margin (TTM), FY26 Q2: 9.5% FCF margin (TTM), FY26 Q3: 7.3% 7.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 12.6%
FY24 Q1 11.5%
FY24 Q2 9.9%
FY24 Q3 9.6%
FY24 Q4 7.6%
FY25 Q1 8.2%
FY25 Q2 4.9%
FY25 Q3 7.3%
FY25 Q4 8.0%
FY26 Q1 4.3%
FY26 Q2 9.5%
FY26 Q3 7.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Suburban Propane Partners took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.4B
  2. Cost of revenue $564M · 39.4%
  3. Gross profit $869M · 60.6%
  4. Selling, general and admin $96.4M · 6.7%
  5. Other operating costs $566M · 39.5%
  6. Operating income $206M · 14.4%
  7. Interest and other $98.4M · 6.9%
  8. Net income $107M · 7.4%

Shares of revenue. Source: Suburban Propane Partners's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2009 Sept 2009 2010 Sept 2010 2011 Sept 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Sept 2015 2016 Sept 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Sept 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 1,143 1,137 1,191 1,063 1,704 1,938 1,417 1,046 1,188 1,344 1,268 1,108 1,289 1,501 1,429 1,327 1,433 1,394
Gross profit — — — — — — — 684 711 752 746 725 803 789 839 805 869 880
EBITDA 241 184 179 89 307 327 311 220 257 283 272 257 318 265 269 238 278 279
Operating income 211 153 143 42 177 190 178 90 129 158 151 140 213 206 207 171 206 211
Net income 165 115 115 1 79 95 84 14 38 77 69 61 123 140 124 74 107 131
Diluted EPS $4.96 $3.24 $3.22 $0.02 $1.34 $1.56 $1.38 $0.24 $0.62 $1.24 $1.10 $0.97 $1.94 $2.18 $1.92 $1.14 $1.62 —
Growth (year on year)
Revenue −27.4% −0.6% +4.7% −10.7% +60.2% +13.8% −26.9% −26.2% +13.6% +13.2% −5.7% −12.6% +16.3% +16.5% −4.8% −7.1% +7.9% −2.5%
EBITDA +35.0% −23.6% −2.9% −50.4% +246.6% +6.2% −4.7% −29.3% +16.6% +10.4% −4.1% −5.4% +23.6% −16.6% +1.6% −11.6% +16.8% +2.9%
Operating income +40.3% −27.2% −6.6% −70.9% +324.8% +7.4% −6.5% −49.1% +42.2% +22.9% −4.5% −7.0% +52.0% −3.2% +0.3% −17.2% +20.5% +5.2%
Net income +6.7% −30.2% −0.3% −99.4% — +19.9% −10.7% −82.9% — +101.4% −10.3% −11.5% +102.1% +13.8% −11.4% −40.1% +43.7% +34.5%
Diluted EPS +5.5% −34.7% −0.6% −99.4% — +16.4% −11.5% −82.6% — +100.0% −11.3% −11.8% +100.0% +12.4% −11.9% −40.6% +42.1% —
Margins
Gross margin — — — — — — — 65.4% 59.9% 55.9% 58.8% 65.4% 62.3% 52.6% 58.7% 60.7% 60.6% 63.1%
EBITDA margin 21.1% 16.2% 15.0% 8.3% 18.0% 16.8% 22.0% 21.0% 21.6% 21.1% 21.4% 23.2% 24.7% 17.7% 18.9% 17.9% 19.4% 20.0%
Operating margin 18.4% 13.5% 12.0% 3.9% 10.4% 9.8% 12.5% 8.6% 10.8% 11.8% 11.9% 12.7% 16.5% 13.7% 14.5% 12.9% 14.4% 15.1%
Net margin 14.5% 10.1% 9.7% 0.1% 4.6% 4.9% 6.0% 1.4% 3.2% 5.7% 5.4% 5.5% 9.5% 9.3% 8.7% 5.6% 7.4% 9.4%
Free-cash-flow margin 19.7% 12.0% 9.3% 8.8% 10.9% 10.1% 20.0% 11.4% 11.4% 13.2% 15.1% 16.0% 15.3% 11.7% 12.6% 7.6% 8.0% 7.3%
Cash flow
Cash from operations 247 156 133 111 214 226 324 157 164 210 227 209 227 221 225 161 186 181
Capital spending 22 19 22 17 28 30 41 38 28 33 35 32 30 44 45 59 72 80
Free cash flow 225 137 111 93 186 195 283 119 136 178 192 177 197 176 180 101 114 101
Balance sheet
Cash 163 157 150 134 107 93 152 37 3 5 2 3 6 4 4 3 0 5
Total debt 349 348 348 1,422 1,245 1,243 1,241 1,238 1,288 1,269 1,239 1,220 1,132 1,090 1,199 1,219 1,219 1,235
Net debt (negative = net cash) 186 191 199 1,288 1,138 1,150 1,089 1,201 1,285 1,263 1,236 1,216 1,126 1,086 1,195 1,216 1,218 1,230
Diluted shares 33m 35,613m 36m 39m 59m 61m 61m 61m 62m 62m 62m 63m 63m 64m 64m 65m 66m —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 5 checks passed · June 27, 2026
What it owns · $2.4bn
Short-term assets $194mLonger-term assets $2.2bn
What it owes, and who funded it · $1.6bn
Short-term liabilities $248mLonger-term liabilities $1.4bn
  • Short-term assets cover short-term liabilities $194m of assets due within a year against $248m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $194m short-term assets against $1.4bn of longer-dated liabilities.
  • More cash than debt $5m of cash against $1.2bn 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 $181m of operating cash flow against $1.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $211m against $76m of interest.

From Suburban Propane Partners LP'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.

Dividends, buybacks and capital spending

Days sales outstanding
22 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in gas utilities
Last 12 months unless stated SPH NWN SGU CPK NJR NFG Median
Revenue, last 12 months $1.4bn $1.3bn $1.9bn $994m $2.2bn $2.5bn $1.7bn
Revenue growth, last 12 months −2.5% 4.4% 7.6% 14.6% 6.4% 15.1% 6.4%
Revenue growth, 3-year average −1.1% 2.7% −1.2% 13.9% −2.4% 3.9% 0.8%
Revenue growth, latest quarter 0.5% 3.1% 17.2% 4.7% 16.8% 1.1% 3.7%
Gross margin 63.1% — 22.7% — 32.2% 87.7% 56.6%
Operating margin 15.1% 22.8% 7.1% 27.3% 24.8% 40.3% 19.4%
Operating margin, 3-year average 14.6% 19.6% 5.6% 27.1% 25.3% 29.2% 19.6%
Net margin 9.4% 9.7% 4.6% 15.1% 16.4% 26.9% 11.4%
Cash from operations / revenue 13.0% 16.5% 3.7% 31.0% 29.6% 50.6% 19.0%
Free-cash-flow margin 7.3% −20.6% 3.0% −20.9% 20.5% 8.8% 2.2%
Free-cash-flow margin, 3-year average 8.1% −16.2% 4.1% −16.4% 16.7% 7.2% 2.6%
Stock pay / revenue — — — 0.8% — 0.7% 0.8%
Change in share count 1.2% 4.3% −4.2% −65.7% 0.9% 2.3% 1.3%

Median of all 12 companies we cover in gas utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

12 gas utilities companies
Measure Company Peer median Rank
Revenue growth Growth -2.5% 6.5% 12 of 12
Change in growth rate Growth -0.3pp -1.1pp 5 of 12
Operating margin Profitability 15.1% 21.6% 9 of 12
Net margin Profitability 9.4% 13.1% 8 of 12
Free-cash-flow margin Cash generation 7.3% 2.6% 3 of 12
Long-term debt as % of assets Balance sheet 51.9% 39.9% 12 of 12
Days sales outstanding Balance sheet 22 days 35 days 2 of 8

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 27, 2025
Products and services
Line of business Revenue YoY
Propane $1.3B ▲ 10.0%
Other Sales Revenue Net $75.1M ▼ 3.1%
Fuel Oil and Refined Fuels $67.4M ▼ 8.7%
Wholesale $39.9M ▲ 39.2%
Natural Gas and Electricity $24.6M ▼ 5.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Suburban Propane Partners LP's 10-K filed November 26, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$497M
Institutions reporting
144
Shares held vs prior quarter
▲ 0.5%
Positions opened / closed
13 / 16

Top buyers and sellers, Q2 2026: 53 institutions bought and 50 sold ; the biggest buyer was Jane Street Group, LLC (+270K shares) and the biggest seller Alps Advisors Inc (−655K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Alps Advisors Inc $252M 14.7M 50.7% ▼ 4.3%
Mirae Asset Global Etfs Holdings Ltd. $77.4M 4.5M 15.6% ▲ 1.8%
Goldman Sachs Group Inc $27M 1.6M 5.4% ▲ 11.0%
Jpmorgan Chase & Co $25M 1.4M 5.0% ▲ 2.1%
Bowen Hanes & Co Inc $20M 1.0M 4.0% 0.0%
Morgan Stanley $10.9M 637K 2.2% ▼ 30.9%
UBS Group AG $8.8M 514K 1.8% ▲ 37.9%
Blackstone Inc. $7.2M 421K 1.5% ▼ 4.4%
Jane Street Group, LLC $4.6M 270K 0.9% New
Fractal Investments LLC $3.7M 215K 0.7% 0.0%
Raymond James Financial Inc $3.6M 213K 0.7% ▼ 1.8%
Commonwealth Equity Services, LLC $3.5M 205K 0.7% ▲ 5.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Suburban Propane Partners LP's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $251,810 4 trades by 3 insiders · 77% under pre-set plans
Net ▼ $251,810 net selling
Insider Date Trade Shares Price Value
Swift Jane Director September 29, 2026 Sell 148 $16.39 $2,426
Swift Jane Director September 28, 2026 Sell 364 $16.53 $6,017
Koepke Bryon L VP,General Counsel & Secretary August 31, 2026 Sell 2,848 $17.65 $50,267
Chanin Matthew J Director December 2, 2025 Sell pre-set plan 10,000 $19.31 $193,100

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

No trades in Suburban Propane Partners LP disclosed in the last 12 months; 19 earlier trades on record.

  • Mark E. Green(R-TN 7):Sale (full), $250,001 - $500,000, traded December 22, 2021, filed January 3, 2022
  • Mark E. Green(R-TN 7):Purchase, $250,001 - $500,000, traded September 2, 2021, filed September 23, 2021
  • Mark E. Green(R-TN 7):Sale (full), $250,001 - $500,000, traded October 5, 2020, filed October 29, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 12, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 5, 2026
  • November 13, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Suburban Propane Partners LP was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Suburban Propane Partners LP in brief

What does Suburban Propane Partners LP do?
Suburban Propane Partners LP is a US-listed company in the gas utilities industry. Its financial year ends in September.
What is Suburban Propane Partners LP's stock ticker?
Suburban Propane Partners LP trades under the ticker SPH on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Suburban Propane Partners LP's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Suburban Propane Partners LP reported revenue of $1.4B, 2.5% lower than a year earlier, according to its SEC filings.
What is Suburban Propane Partners LP's free cash flow?
Suburban Propane Partners LP's free-cash-flow margin is 7.3% of revenue over the trailing twelve months, ranking 3 of the 12 gas utilities companies we cover.
Who are Suburban Propane Partners LP's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Alps Advisors Inc, Mirae Asset Global Etfs Holdings Ltd. and Goldman Sachs Group Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Suburban Propane Partners LP's market cap?
On September 26, 2025, Suburban Propane Partners LP's market capitalisation was about $1.1B, with a price-to-earnings ratio of 10.7 and net debt of $1.2B. Market figures come from third-party market data and may be delayed.
Who are Suburban Propane Partners LP's competitors?
In our Gas Utilities peer group, the companies closest to Suburban Propane Partners LP are Northwest Natural Holding Co, Star Group, L.p., Chesapeake Utilities Corp, NEW Jersey Resources Corp and National Fuel GAS Co. The side-by-side comparison below sets their revenue, margins and growth against Suburban Propane Partners LP's.
Are insiders buying or selling Suburban Propane Partners LP stock?
Over the last 12 months, Suburban Propane Partners LP's directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is Suburban Propane Partners LP's next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Suburban Propane Partners LP announces its own schedule.