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Suburban Propane Partners Lp

SPH NYSE Retail-Miscellaneous Retail Financials FY2016–FY2025

Revenue Total sales reported in the income statement.
$1.4B
7.9% vs prior year
Operating margin Operating income as a share of revenue.
14.4%
1.5 pts
Net income Profit after all expenses, interest and tax.
$107M
43.7%
Free cash flow Cash from operations minus capital spending.
$114M
13.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
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On $1.94 EPS (TTM)

What Suburban Propane Partners Lp does

No business description yet.

Legal name
SUBURBAN PROPANE PARTNERS LP
Fiscal year ends
September 27, 2025
Latest annual report
10-K · Nov 26, 2025
Accession · CIK
0001193125-25-298630
0001005210

Revenue and margins

Suburban Propane Partners Lp had $1.4B of revenue in fiscal 2025, up 7.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 23.6% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $114M in fiscal 2025, 8.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Suburban Propane Partners Lp returned — to shareholders in fiscal 2025. The diluted share count rose 1.2%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Suburban Propane Partners Lp can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $5.8M$4.1M$3.5M$3.2M$0.4M
Debt incl. finance leases $1.1B$1.1B$1.2B$1.2B$1.2B
Net debt / EBITDA 3.5x4.0x4.4x5.1x4.4x
Interest coverage 3.1x3.4x2.8x2.3x2.7x
Current ratio 0.6x0.6x0.5x0.5x0.5x
Quick ratio 0.4x0.4x0.3x0.3x0.3x
Total assets $2.1B$2.1B$2.3B$2.3B$2.3B
Total liabilities $1.6B$1.6B$1.7B$1.7B$1.7B
Net debt (− = net cash) $1.1B$1.1B$1.2B$1.2B$1.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Return on assets rose — ✓ ✓ ✕ ✕ ✓ ✓ ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — ✕ ✕ ✕ ✓ ✓ ✓ ✕ ✕ ✓
Current ratio rose — ✕ ✓ ✕ ✕ ✓ ✕ ✕ ✕ ✓
Share count didn't rise — ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Gross margin rose — ✕ ✕ ✓ ✓ ✕ ✕ ✓ ✓ ✕
Revenue rose relative to assets — ✓ ✓ ✕ ✕ ✓ ✓ ✕ ✕ ✓
F-score — / 35 / 96 / 94 / 95 / 97 / 96 / 94 / 94 / 97 / 9
Accruals ratio −6.3%−5.7%−6.3%−7.7%−7.3%−5.1%−3.9%−4.6%−3.8%−3.5%
Altman Z'' ——————————

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.0B $1.2B $1.3B $1.3B $1.1B $1.3B $1.5B $1.4B $1.3B $1.4B
Gross profit $684M $711M $752M $746M $725M $803M $789M $839M $805M $869M
Operating income $90.4M $129M $158M $151M $140M $213M $206M $207M $171M $206M
Interest expense — $75.3M $77.4M $76.7M $74.7M $68.1M $60.7M $73.4M $74.6M $76.3M
Pretax income $15.0M $38.5M $75.9M $69.5M $60.6M $124M $140M $124M $74.9M $108M
Income tax $0.6M $0.5M −$0.6M $0.9M −$0.1M $1.1M $0.4M $0.7M $0.7M $1.3M
Net income $14.4M $38.0M $76.5M $68.6M $60.8M $123M $140M $124M $74.2M $107M
Diluted EPS $0.24 $0.62 $1.24 $1.10 $0.97 $1.94 $2.18 $1.92 $1.14 $1.62
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.07B
Cash flow
Cash from operations $157M $164M $210M $227M $209M $227M $221M $225M $161M $186M
Capital expenditure $38.4M $28.2M $32.9M $35.0M $32.5M $29.9M $44.4M $44.9M $59.4M $72.0M
Free cash flow $119M $136M $178M $192M $177M $197M $176M $180M $101M $114M
Depreciation and amortization $130M $128M $125M $121M $117M $105M $58.8M $62.6M $67.0M $72.0M
Acquisitions $42.9M $0.0M $14.9M $19.3M $25.6M $8.7M $56.1M $130M $25.2M $59.5M
Balance sheet
Cash and short-term investments $37.3M $2.8M $5.2M $2.4M $3.1M $5.8M $4.1M $3.5M $3.2M $0.4M
Total debt $1.2B $1.3B $1.3B $1.2B $1.2B $1.1B $1.1B $1.2B $1.2B $1.2B
Current assets $147M $139M $158M $123M $116M $180M $175M $164M $158M $166M
Current liabilities $205M $210M $219M $216M $245M $287M $307M $308M $306M $303M
Inventory $45.4M $53.2M $59.1M $45.0M $46.9M $61.8M $66.9M $61.8M $55.4M $73.7M
Property and equipment, net $742M $693M $649M $627M $597M $569M $564M $646M $654M $691M
Goodwill $1.1B $1.1B $1.1B $1.1B $1.1B $1.1B $1.1B $1.1B $1.2B $1.2B
Intangible assets $276M $220M $175M $128M $84.1M $39.3M $40.0M $80.6M $74.5M $84.8M
Total assets $2.3B $2.2B $2.1B $2.0B $2.0B $2.1B $2.1B $2.3B $2.3B $2.3B
Total liabilities $1.6B $1.6B $1.6B $1.6B $1.7B $1.6B $1.6B $1.7B $1.7B $1.7B
Margins
Gross margin 65.4% 59.9% 55.9% 58.8% 65.4% 62.3% 52.6% 58.7% 60.7% 60.6%
Operating margin 8.6% 10.8% 11.8% 11.9% 12.7% 16.5% 13.7% 14.5% 12.9% 14.4%
EBITDA margin 21.0% 21.6% 21.1% 21.4% 23.2% 24.7% 17.7% 18.9% 17.9% 19.4%
Net margin 1.4% 3.2% 5.7% 5.4% 5.5% 9.5% 9.3% 8.7% 5.6% 7.4%
FCF margin 11.4% 11.4% 13.2% 15.1% 16.0% 15.3% 11.7% 12.6% 7.6% 8.0%
Returns
Return on capital employed 4.4% 6.6% 8.4% 8.5% 7.8% 12.1% 11.5% 10.5% 8.7% 10.3%
Return on assets 0.6% 1.7% 3.6% 3.3% 3.0% 6.0% 6.7% 5.7% 3.3% 4.7%
Growth
Revenue growth — 13.6% 13.2% −5.7% −12.6% 16.3% 16.5% −4.8% −7.1% 7.9%
Net income growth — 163.1% 101.4% −10.3% −11.5% 102.1% 13.8% −11.4% −40.1% 43.7%
EPS growth — 158.3% 100.0% −11.3% −11.8% 100.0% 12.4% −11.9% −40.6% 42.1%
FCF growth — 14.0% 30.9% 8.1% −7.8% 11.2% −10.4% 2.3% −43.9% 13.0%
Share count change — 0.6% 0.5% 0.8% 0.6% 0.9% 1.1% 0.7% 0.6% 1.2%
Financial health
Net debt / EBITDA 5.4x 4.9x 4.4x 4.5x 4.7x 3.5x 4.0x 4.4x 5.1x 4.4x
Interest coverage — 1.7x 2.0x 2.0x 1.9x 3.1x 3.4x 2.8x 2.3x 2.7x
Current ratio 0.7x 0.7x 0.7x 0.6x 0.5x 0.6x 0.6x 0.5x 0.5x 0.5x
Quick ratio 0.5x 0.4x 0.5x 0.4x 0.3x 0.4x 0.4x 0.3x 0.3x 0.3x
Capital allocation
Capex / revenue 3.7% 2.4% 2.4% 2.8% 2.9% 2.3% 3.0% 3.1% 4.5% 5.0%
Quality scores
Piotroski F-score — 5.0 6.0 4.0 5.0 7.0 6.0 4.0 4.0 7.0
Accruals ratio −6.3% −5.7% −6.3% −7.7% −7.3% −5.1% −3.9% −4.6% −3.8% −3.5%

Source: SEC EDGAR XBRL filings (CIK 0001005210). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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