NYSE · SPH
Suburban Propane Partners, L.P.
Energy · Oil & Gas Energy
$16.62▲ 0.85% ($0.14)at close
As of 4:00 PM ET
Market cap
$1.10B
P/E
8.48
EPS (TTM)
$1.96
Next earnings
Nov 12, 2026
Valuation
Cash-flow DCF
Verdict: fairly priced. Price between Bear and Base.
The price holds with free cash flow shrinking 11.2% a year for 5 years. Our scenarios assume −18.3–8.1%.
Its past 10 years averaged −6.9% a year.
Value per share
Base case
$24.81
Price used $16.62 is 33% below this
USD · TTM ending Jun 27, 2026 · Price Sep 25, 8:00 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
5 more notes
CapEx normalization was capped: company appears to be in a multi-year investment cycle. Median-based capex floor applied at 60% of TTM capex.
Working capital change smoothed: single-period ΔOWC exceeded ±5% of revenue and was capped to reduce timing noise.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.37) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Reported total debt includes capitalised leases (~8% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
Free cash flow each value needs
Free cash flow today $167M. The price needs $109M by 2036. Base case: $138M. At its recent pace: $81.2M. Bear to Bull: $72.1M to $305M.
Free cash flow today $167M. The price needs $109M by 2036. Base case: $138M. At its recent pace: $81.2M. Bear to Bull: $72.1M to $305M.
Free cash flow in 2036
today $167M
−$28.7Mless than the Base case
Value per share · Base case
$24.81
Price $16.62
33% below this
- Stage 1 growth, yrs 1–5
- −6.9%
- Stage 2 growth, yrs 6–10
- 3.5%
- Discount rate
- 6.8%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
5 more notes
CapEx normalization was capped: company appears to be in a multi-year investment cycle. Median-based capex floor applied at 60% of TTM capex.
Working capital change smoothed: single-period ΔOWC exceeded ±5% of revenue and was capped to reduce timing noise.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.37) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Reported total debt includes capitalised leases (~8% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
USD · TTM ending Jun 27, 2026 · Price Sep 25, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock fell 10.98% over the last year. Revenue declined 2.48% over the trailing twelve months. Operating margin moved from 14.02% to 15.17%. Free cash flow grew 20.17% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 15.17%. A decisive move in revenue — currently down 2.48% — would be the clearest signal to resolve the ambiguity.
Return analysis
Company profile
Suburban Propane Partners, L.P. is a nationwide marketer and distributor of a diverse array of energy-related products, specializing in propane, fuel oil and refined fuels.
Market multiples
Stock splits
Every 1 shares became 10
Profitability & growth
Analyst consensus
4
Buy
7
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Nov 12, 2026
Q4 FY26 · EPS est -$0.58 · Revenue est $217M
View
Institutional Sentiment
Suburban Propane Partners, L.P. · SPH
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.