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SREA

Sempra

SREA

Sempra • NYSE
$21.96 ▼ -0.45% (-0.10)
Market Cap $14.33 B
52w High $24.24
52w Low $19.61
Dividend Yield 1.44%
P/E 0
Volume 94.20K
Outstanding Shares 652.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.151B ▲ $965M ▲ $95M ▼ 3.015% ▼ $0.12 ▼ $1.697B ▲
Q2-2025 $3B ▼ $31M ▲ $472M ▼ 15.733% ▼ $0.71 ▼ $1.206B ▼
Q1-2025 $3.802B ▲ $23M ▼ $917M ▼ 24.119% ▼ $1.39 ▲ $1.622B ▼
Q4-2024 $3.758B ▲ $178M ▲ $1.205B ▲ 32.065% ▲ $1.05 ▲ $1.892B ▲
Q3-2024 $2.776B $21M $649M 23.379% $1.01 $1.039B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7M ▼ $106.919B ▲ $66.7B ▲ $31.172B ▼
Q2-2025 $180M ▼ $99.907B ▲ $61.611B ▲ $31.717B ▲
Q1-2025 $1.759B ▲ $99.01B ▲ $60.808B ▲ $31.663B ▲
Q4-2024 $1.586B ▲ $96.155B ▲ $58.367B ▲ $31.242B ▲
Q3-2024 $582M $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 $95M ▼ $1.11B ▲ $224M ▲ $1.504B ▲ $-173M ▲ $-1.451B ▲
Q2-2025 $472M ▼ $784M ▼ $-2.778B ▼ $415M ▼ $-1.579B ▼ $-1.52B ▼
Q1-2025 $917M ▲ $1.482B ▲ $-2.751B ▼ $1.442B ▼ $173M ▼ $-854M ▲
Q4-2024 $676M ▲ $1.365B ▲ $-2.708B ▼ $2.244B ▲ $1.004B ▲ $-1.085B ▼
Q3-2024 $649M $1.022B $-1.793B $1.113B $338M $-913M

Revenue by Products

Product Q2-2024Q3-2024Q2-2025Q3-2025
Electricity
Electricity
 $970.00M ▲$1.25Bn ▲$940.00M ▼$1.21Bn ▲
So Cal Gas Segment
So Cal Gas Segment
 $1.52Bn ▲$1.31Bn ▼$1.76Bn ▲$1.54Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Over the last five years, Sempra’s revenue has generally grown, but earnings have been uneven. Profitability was solid for most of the period, yet the most recent year shows a sharp drop in operating profits and even a negative EBITDA figure, which is unusual for a regulated utility and suggests sizeable one‑off charges, project costs, or accounting adjustments. Net income is still positive, so the core business appears profitable, but margins look pressured versus the prior year. Overall, the pattern points to a stable underlying utility base with periodic volatility driven by large projects, regulatory actions, or special items rather than a straightforward, smooth earnings trend.

Balance Sheet

Balance Sheet The balance sheet shows a steadily expanding asset base, consistent with a capital‑intensive utility and infrastructure business that is building out networks and new projects. Debt has increased meaningfully over time, but shareholders’ equity has also risen, so the company is funding growth with a mix of borrowing and retained capital. Cash on hand is relatively modest for the size of the business, implying reliance on ongoing access to capital markets and bank financing. The overall picture is of a heavily invested, infrastructure‑rich utility with rising leverage that needs careful management but is typical for this sector.

Cash Flow

Cash Flow Cash flow from operations has been positive but quite volatile from year to year, reflecting the impact of fuel costs, working capital swings, and regulatory timing. Capital spending has been very heavy every year, which is typical for utilities modernizing grids, expanding infrastructure, and building new energy projects. As a result, free cash flow has often been negative, indicating that Sempra is in an investment‑heavy phase and depends on external financing to cover much of its growth program. The most recent year shows an improvement in free cash flow, but the longer‑term pattern still points to ongoing high investment needs and sensitivity to funding conditions and regulatory recovery of those investments.

Competitive Edge

Competitive Edge Sempra holds a strong competitive position built on large, regulated utilities in California and Texas plus infrastructure in Mexico, giving it scale and geographic diversification that many peers lack. Its ownership of extensive transmission and distribution networks, including a major Texas grid operator, creates high barriers to entry: these assets are hard and slow to replicate. Regulation provides earnings visibility but also introduces political and policy risk, especially in California and around decarbonization debates. In addition, its push into liquefied natural gas exports and cross‑border infrastructure gives Sempra exposure to global energy demand, which can be a strategic advantage but also adds commodity, project execution, and geopolitical risk.

Innovation and R&D

Innovation and R&D Sempra is leaning heavily into innovation for both reliability and decarbonization, going beyond the typical stance of a traditional regulated utility. It is investing in advanced grid technologies, wildfire mitigation tools, and data‑driven systems to improve safety and resilience in high‑risk regions. At the same time, it is developing low‑carbon solutions such as hydrogen blending, carbon capture and sequestration, renewable power, and an expanded LNG platform with integrated emission‑reduction features. These initiatives could strengthen its role in the energy transition and create new revenue streams over time, but they are capital‑intensive, technically complex, and dependent on evolving regulation and customer adoption, so outcomes and returns are uncertain.

Summary

Overall, Sempra looks like a large, infrastructure‑heavy utility that is balancing a relatively stable regulated core with an aggressive growth and energy‑transition strategy. The income statement shows a fundamentally profitable business but with noticeable earnings swings, especially in the most recent year, likely tied to big projects and non‑recurring items. The balance sheet and cash‑flow trends highlight significant ongoing investment funded largely by rising debt and capital markets access, which is typical for this kind of company but increases sensitivity to interest rates, regulation, and execution. Strategically, Sempra’s scale, network assets, and geographic spread give it a meaningful moat, while its innovation in LNG, hydrogen, and carbon capture offers long‑term opportunity with meaningful project and policy risk. The key tension to watch is whether its ambitious build‑out and transition investments translate into stable, regulated‑like returns without unduly stretching its balance sheet or running into regulatory or political headwinds.