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SRE

Sempra

SRE

Sempra • NYSE
$94.69 ▲ 0.96% (+0.90)
Market Cap $61.80 B
52w High $95.72
52w Low $61.90
Dividend Yield 2.56%
P/E 29.14
Volume 1.28M
Outstanding Shares 652.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.184B ▲ $194M ▲ $95M ▼ 2.984% ▼ $0.12 ▼ $1.697B ▲
Q2-2025 $3B ▼ $165M ▼ $473M ▼ 15.767% ▼ $0.71 ▼ $1.31B ▼
Q1-2025 $3.798B ▲ $196M ▲ $917M ▲ 24.144% ▲ $1.39 ▲ $1.661B ▼
Q4-2024 $3.753B ▲ $178M ▲ $676M ▲ 18.012% ▼ $1.047 ▲ $1.892B ▲
Q3-2024 $2.678B $175M $649M 24.235% $1.007 $1.139B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $126M ▼ $106.919B ▲ $66.7B ▲ $31.172B ▼
Q2-2025 $155M ▼ $99.907B ▲ $61.611B ▲ $31.717B ▲
Q1-2025 $1.739B ▲ $99.01B ▲ $60.808B ▲ $31.663B ▲
Q4-2024 $1.565B ▲ $96.155B ▲ $58.367B ▲ $31.242B ▲
Q3-2024 $560M $93.748B $57.868B $29.723B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $586M ▲ $1.11B ▲ $-3.013B ▼ $4.741B ▲ $-173M ▲ $-1.451B ▲
Q2-2025 $519M ▼ $784M ▼ $-2.778B ▲ $415M ▼ $-1.579B ▼ $-1.52B ▼
Q1-2025 $919M ▼ $1.482B ▲ $-2.785B ▲ $1.476B ▼ $173M ▼ $-854M ▲
Q4-2024 $989M ▲ $1.365B ▲ $-2.822B ▼ $2.358B ▲ $899M ▲ $-1.085B ▼
Q3-2024 $759M $1.022B $-2.128B $1.448B $339M $-913M

Revenue by Products

Product Q2-2024Q3-2024Q1-2025Q2-2025
Electricity
Electricity
 $970.00M ▲$1.25Bn ▲$1.15Bn ▼$940.00M ▼
So Cal Gas Segment
So Cal Gas Segment
 $1.52Bn ▲$1.31Bn ▼$2.53Bn ▲$1.76Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Sempra’s income statement shows a generally healthy utility business with some ups and downs in recent years. Revenue rose over the early part of the period, then stepped back more recently, suggesting a maturing base business with less of a growth surge than before. Even with that pullback in revenue, operating profit has stayed solid, which points to decent cost control and a regulated framework that supports margins. Net income has been positive every year but somewhat uneven, likely reflecting one‑off items, project timing, and regulatory decisions. Earnings per share follow the same pattern: overall respectable and improving versus several years ago, but not in a straight line. In plain terms, Sempra looks like a profitable, relatively stable utility with some lumpiness tied to big projects and non‑recurring factors rather than a smooth, steady climb.

Balance Sheet

Balance Sheet The balance sheet looks like a classic capital‑intensive utility: large asset base, meaningful debt, and a solid layer of shareholder equity underneath. Total assets have climbed steadily, showing ongoing investment in infrastructure such as pipes, wires, and terminals. Debt has also risen over the period as the company funds these long‑lived projects, but equity has grown as well, which helps support the expanding balance sheet. Cash on hand is modest for the size of the company, although it improved notably in the most recent year. That’s common for regulated utilities that rely on steady cash inflows rather than large cash reserves. The key trade‑off here is clear: Sempra is building a bigger, more valuable asset base, but at the cost of higher leverage, which makes interest rates and credit conditions important watchpoints.

Cash Flow

Cash Flow Cash flow tells the story of a builder. Operating cash flow is generally strong, though it swings from year to year, reflecting regulatory timing, fuel costs, and working capital shifts. The standout feature is consistently heavy capital spending, which has been very high in every year shown. Because of that large investment program, free cash flow is deeply negative throughout the period. This isn’t unusual for a growth‑oriented utility and infrastructure company, but it does mean Sempra depends on external funding—mainly debt and possibly asset sales or partnerships—to bridge the gap. The opportunity is future earnings from these new assets; the risk is the ongoing need to finance construction in a world of changing interest rates and regulatory scrutiny.

Competitive Edge

Competitive Edge Sempra’s competitive position rests on two pillars: regulated utilities and critical energy infrastructure. Its core electric and gas utilities in California and Texas benefit from high barriers to entry, local monopolylike positions, and earnings frameworks set by regulators. That creates stability and helps shield the company from the intense price competition seen in unregulated power markets. Beyond the wires and pipelines, Sempra’s portfolio of liquefied natural gas and gas infrastructure on both the Gulf and Pacific coasts gives it a strategic edge. Few players have that kind of dual‑coast export footprint, which can be valuable for serving different global markets. The main competitive threats come less from traditional rivals and more from regulatory changes, political pushback on fossil fuels, and the pace of the energy transition. Still, its integrated structure across California, Texas, and cross‑border infrastructure offers scale and diversification that many peers lack.

Innovation and R&D

Innovation and R&D For a utility, Sempra is leaning relatively hard into innovation. It is active in hydrogen development, carbon capture and storage, and cleaner fuel concepts, positioning itself to benefit if these technologies scale. Its involvement in a major hydrogen hub backed by federal funding signals an early foothold in emerging clean‑fuel infrastructure. On the grid side, Sempra is modernizing its networks with smart technologies, using artificial intelligence and advanced control systems to improve reliability, integrate more renewables, and reduce outages. These efforts can enhance safety and efficiency over time, though they require significant up‑front spending and careful execution. Its LNG expansion projects and exploration of low‑carbon fuels show a strategy that straddles today’s gas‑centric world and tomorrow’s lower‑carbon system. The opportunity is to be a key enabler of the transition; the risk is committing capital to projects whose long‑term demand and policy support can shift over time.

Summary

Overall, Sempra comes across as a large, diversified utility and infrastructure company with solid profitability, a growing asset base, and a very heavy investment agenda. Earnings have been positive and generally resilient, though not perfectly smooth, which is typical for a company with sizeable projects and occasional one‑off items. The balance sheet reflects a deliberate choice to fund growth with more debt while still building equity, a pattern that works as long as regulation remains supportive and financing stays accessible. Persistent negative free cash flow underscores that Sempra is in a long‑build phase, relying on capital markets and partnerships to fund its ambitions. Strategically, the mix of regulated utilities, LNG exports, and new clean‑energy initiatives provides both stability and optionality. Success will depend on project execution, regulatory outcomes, and how quickly the energy transition reshapes gas and power markets. In simple terms, Sempra is a steady utility at its core, overlaid with large‑scale infrastructure and transition projects that could enhance growth—but also add complexity and execution risk over time.

NEWS

November 24, 2025 · 4:12 PM UTC

Sempra recognized among 'America's Best Employers for Company Culture' by Forbes

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November 18, 2025 · 1:36 PM UTC

SoCalGas Declares Preferred Dividends

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November 6, 2025 · 7:41 PM UTC

Sempra Declares Common Dividend

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November 5, 2025 · 8:00 AM UTC

ONCOR REPORTS THIRD QUARTER 2025 RESULTS

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November 5, 2025 · 7:55 AM UTC

Sempra Reports Third-Quarter 2025 Results

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