Sempra (SRE)
Utilities · Multi-Utilities · US stock · S&P 500 component
$84.77
▲ +1.27 (1.52%)
Fair valueFair
$88 +3.8% to fair value
$44fair band $75–$107$132
Day's range
$83.59 – $84.98
52-week range
$76.21 – $101.04
About Sempra
Sempra is an energy infrastructure company. In California it owns San Diego Gas and Electric and Southern California Gas, two regulated utilities that deliver electricity and natural gas to homes and businesses. It also holds a major interest in Oncor, the Texas electricity delivery utility, and has an infrastructure business with liquefied natural gas, pipeline and power assets in North America. Its customers are households, businesses and energy companies.
Sempra earns its revenue largely from regulated utility rates, which allow it to recover costs and earn a return on network investment, with infrastructure contracts adding to the total. Revenue was $13.4 billion over the last twelve months, having changed at -1.7% a year across the last three years. The operating margin is 25.8%, the business earns 4% on the capital invested in it, and net debt is 5.9 times EBITDA. The dividend yield is 3.1%. On the site's X-Ray Score it receives 33 out of 100.
Price chart
52-wk range $76.21 – $101.04Volume 2,797,787Daily, split-adjusted
Vitals
Market cap$55.6B
52-week range$76.21 – $101.04
Volume (last day)2,797,787
P/E (TTM)28.3
EBIT / EV yield3.8%
Free-cash-flow yield-10.5%
Dividend yield3.1%
Revenue (TTM)$13.4B
Net income (TTM)$2.0B
Operating margin25.8%
Return on capital3.6%
Debt incl. leases$36.4B
Cash & securities$794M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$88middle half of models $79 – $87
Fair
+3.8% to fair value
Average of the 9 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $85
Undervalued < $75Fair $75 – $107Overvalued > $107
P/E multiple
$85
P/B multiple
$87
P/S multiple
$79
EV/EBITDA multiple
$85
EV/EBIT multiple
$83
EV/revenue multiple
$79
5-year DCF, EBITDA exit · not used
$29
5-year DCF, revenue exit · not used
$28
Dividend discount, stable
$103
Dividend discount, multi-stage
$132
Earnings power value
$59
Growth the price implies
16.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Utilities peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
33/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.8%
Free-cash-flow yield-10.5%
Fair value vs price1.0×
Growth
Weak
9/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-1.7%
EPS growth (3y)-6.0%
Growth consistency30%
Profitability
Weak
27/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital3.6%
Operating margin25.8%
Financial health
Fair
56/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA5.9×
Interest cover2.3×
Dividends
Weak
48/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield3.1%
Dividend growth3.9%
Quarterly results: last 6 quarters
+7.6%
Dec '24
-0.4%
Mar '25
-10.3%
Jun '25
-0.7%
Sep '25
+21.5%
Dec '25
-6.9%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.4B, diluted EPS $1.58.
Compare with peers
ED Consolidated Edison In...70 NI Nisource Inc.54 AEE Ameren Corp54 DTB Dte Energy Co54Other Multi-Utilities companies by X-Ray Score.
SWOT analysis: Sempra
Strengthsinside the company
- No standout strength in the figures we track.
Weaknessesinside the company
- Return on invested capital is only 3.6% (median 4.9% for industry peers), so the business earns little above its cost of capital.
- Revenue has fallen 1.7% a year over three years while industry peers grew 3.7%.
- Earnings per share have declined 6.0% a year over three years.
- Free cash flow is negative, so spending or debt has to be financed from outside.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
- Trades at 28.4x earnings, 33% above the 21.3x median of industry peers, so the price already assumes better results.
- Our Market Compass rates the backdrop for Utilities as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare SRE with peers and sector
Medians of 11 Multi-Utilities peers and of 30 Utilities stocks in our universe.
Largest peers (X-Ray Score): NEE 45, D 53, XEL 27, ED 70, AEE 54, PCG 39.
| Metric | SRE | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 33 | 46 | 51 |
| Valuation | 33 | 51 | 50 |
| Growth | 9 | 53 | 53 |
| Profitability | 27 | 41 | 50 |
| Financial health | 56 | 46 | 51 |
| Dividends | 48 | 55 | 55 |
Sector leaders: highest X-Ray Score in Utilities
SRE ranks #30 of 31 in Utilities and #11 of 12 in Multi-Utilities by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for SRE
Each factor is rated by where SRE stands among the 31 Utilities stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 4 Good · 5 Average · 11 Bad of 20
Growth: 0 · 0 · 3
Profitability: 1 · 1 · 2
Financial strength: 1 · 2 · 1
Valuation: 1 · 1 · 3
Cash flow: 1 · 0 · 2
Efficiency: 0 · 1 · 0
| Factor | SRE | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | −1.7% | Bad beats 8% | +3.4% | – | – |
| Revenue growth, last year | +3.9% | Bad beats 18% | +9.6% | +12.3% | ▼ Worse |
| EPS growth, 3 years a year | −6.0% | Bad beats 6% | +8.1% | – | – |
| Profitability | |||||
| Operating margin | 25.8% | Good beats 72% | 22.9% | 24.2% | ≈ In line |
| Net margin | 14.6% | Average beats 55% | 14.4% | 14.8% | ≈ In line |
| Return on invested capital | 3.6% | Bad beats 2% | 5.5% | – | – |
| Return on equity | 6.1% | Bad beats 8% | 10.1% | 7.9% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 5.9x | Average beats 45% | 5.8x | 5.6x | ≈ In line |
| Interest cover | 2.3x | Average beats 37% | 2.5x | 2.9x | ≈ In line |
| Current ratio | 1.69 | Good beats 98% | 0.78 | 0.55 | ▲ Better |
| Piotroski F-score | 5 / 9 | Bad beats 32% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 28.4x | Bad beats 8% | 21.8x | 22.9x | ▼ Worse |
| Price / book | 1.7x | Good beats 79% | 2.1x | 1.8x | ≈ In line |
| Price / sales | 4.1x | Bad beats 15% | 2.9x | 3.4x | ▼ Worse |
| EV / EBITDA | 15.2x | Average beats 37% | 14.0x | 15.2x | ≈ In line |
| Free cash flow yield | -10.5% | Bad beats 15% | -4.9% | -5.9% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | -43.5% | Bad beats 2% | -9.1% | -25.1% | ▼ Worse |
| Cash from operations / net income | 2.50 | Good beats 69% | 2.20 | 2.02 | ▲ Better |
| Accruals (lower is better) | −2.6% | Bad beats 21% | −3.3% | – | – |
| Efficiency | |||||
| Days sales outstanding | 44 days | Average beats 50% | 44 days | 55 days | ▲ Better |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 3 Average · ● 8 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 32/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.9B | $14.4B | $16.7B | $13.2B | $13.7B |
| Operating income | $2.0B | $3.1B | $4.6B | $3.8B | $3.3B |
| Net income | $1.3B | $2.1B | $3.1B | $2.9B | $1.8B |
| Operating cash flow | $3.8B | $1.1B | $6.2B | $4.9B | $4.6B |
| Operating margin | 15.8% | 21.2% | 27.3% | 28.5% | 24.2% |
| Free cash flow | −$1.2B | −$4.2B | −$2.2B | −$3.3B | −$6.0B |
| Diluted EPS | $2.01 | $3.31 | $4.79 | $4.42 | $2.75 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 1 neutral · 6 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Neutral
4 bullish · 1 neutral · 3 bearish
Moving averages (daily)
| SMA 10 | 82.57 | Bullish |
| EMA 10 | 82.52 | Bullish |
| SMA 20 | 80.55 | Bullish |
| EMA 20 | 81.72 | Bullish |
| SMA 50 | 82.00 | Bullish |
| EMA 50 | 82.56 | Bullish |
| SMA 100 | 85.98 | Bearish |
| EMA 100 | 84.70 | Bullish |
| SMA 200 | 88.39 | Bearish |
| EMA 200 | 85.90 | Bearish |
Oscillators (daily)
| RSI (14) | 64.16 | Neutral |
| MACD (12, 26) | 0.60 | Bullish |
| Momentum (12) | 6.00 | Bullish |
| Stochastic %K (14) | 97.15 | Bearish |
| Williams %R (14) | -2.85 | Bearish |
| CCI (20) | 136.4 | Bearish |
Pivot points (classic, last session)
S3 82.51 | S2 83.05 | S1 83.91 | Pivot 84.45 | R1 85.30 | R2 85.84 | R3 86.70 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.62 USD
Yield on today's price
3.09%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6580 | |
| 0.6580 | |
| 0.6580 | |
| 0.6450 | |
| 0.6450 | |
| 0.6450 | |
| 0.6450 | |
| 0.6200 | |
| 0.6200 | |
| 0.6200 | |
| 0.6200 | |
| 0.5950 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold SRE
| ETF | Share of the fund |
|---|---|
| XLU Utilities Select Sector SPDR | 4.27% |
| VPU Vanguard Utilities | 3.83% |
| FUTY Fidelity MSCI Utilities Index | 3.77% |
| IDU iShares U.S. Utilities | 3.57% |
| PAVE Global X U.S. Infrastructure Developme... | 2.86% |
| EMLP First Trust North American Energy Infr... | 1.86% |
| IFRA iShares U.S. Infrastructure | 1.64% |
| IGF iShares Global Infrastructure | 1.62% |
The eight funds with the largest weight in SRE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
SRE stock splits
SRE has split its stock once since 2023. The latest was a 2-for-1 split on 22 Aug 2023.
Full SRE stock split history →SRE SEC filings
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.