Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
SRE (Sempra) reported FY2025 revenue of $13.70B (+3.9% YoY) but net income fell sharply to $1.84B (-35.8% YoY), reflecting significant cost pressures and investment activity even as the company aggressively expanded its asset base by 15.3%.
Revenue
$13.7B
+3.92% YoY
EPS (Diluted)
$2.75
-37.78% YoY
Source: SEC XBRL
Sempra (SRE) reported FY2025 revenue of $13.7B, up 3.9% year over year. Operating cash flow was $4.57B, down 7.0% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.16 | 1.07 | Beat +8.5% |
| Mar 2026 | 1.51 | 1.53 | Miss -1.4% |
| Dec 2025This filing | 1.28 | 1.18 | Beat +8.2% |
| Sep 2025 | 1.11 | 0.92 | Beat +20.5% |
Reported EPS of $1.28 versus the $1.18 analyst consensus — a +8.2% beat for Dec 2025.
Compiled by AI from this SEC filing
Sempra grew total revenue to $13.70B in FY2025, up 3.9% from $13.19B in the prior year, yet net income declined sharply by 35.8% to $1.84B, suggesting that revenue gains were more than offset by higher costs, depreciation, or one-time charges associated with the company's significant capital expansion program.
Source: 10-K Income Statement (XBRL Financial Data)
Total assets surged 15.3% to $110.88B, driven in part by a dramatic 559.2% increase in current assets to $34.84B, likely reflecting proceeds from financing activities or asset reclassifications. This expansion signals continued heavy investment in utility infrastructure and energy transition projects.
Source: 10-K Balance Sheet (XBRL Financial Data)
Investing cash outflows reached -$12.54B in FY2025, a 37.5% increase in capital deployment versus the prior year's -$9.12B, underscoring Sempra's aggressive infrastructure build-out across its utility and LNG-related businesses.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Financing cash inflows of $9.93B (+83.1% YoY) indicate Sempra raised substantial new debt or equity capital to fund its investment program, which also explains the near-depletion of cash and equivalents from $1.57B to just $29M.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Operating cash flow remained robust at $4.57B, though it declined 7.0% from $4.91B in the prior year, demonstrating that the core regulated utility businesses continue to generate strong and relatively stable cash flows even as reported net income was pressured.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Sempra's net income fell 35.8% to $1.84B despite revenue growing 3.9%, indicating that the costs associated with its large-scale capital program — including depreciation, interest expense on new debt, and project-related charges — are materially weighing on profitability. If capital costs continue to outpace revenue growth, earnings pressure could persist in future periods.
Source: 10-K Income Statement & Cash Flow Statement (XBRL Financial Data)
Cash and equivalents collapsed 98.1% from $1.57B to just $29M at fiscal year-end, even as current liabilities more than doubled to $21.89B. While the current ratio of 1.59 suggests current assets nominally cover current liabilities, the extremely low cash balance increases reliance on credit facilities and capital markets access.
Source: 10-K Balance Sheet (XBRL Financial Data)
Sempra raised $9.93B in financing activities in FY2025 to fund a $12.54B investing program, implying a heavy and growing debt load. With ROE at only 5.8% and ROA at 1.7%, the returns generated on the expanding asset base remain modest relative to the cost of capital being deployed.
Source: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
As a regulated utility, Sempra's ability to earn returns on its capital investments depends on timely and adequate rate approvals from state and federal regulators. Delays or disallowances in cost recovery could further compress already-thin margins and reduce the return on its growing asset base.
Source: 10-K Financial Data (XBRL); inferred from utility business model)
Basic EPS declined 38.1% to $2.75 from $4.44 in the prior year, a steeper decline than net income alone, suggesting potential share count increases from equity issuances used to fund the capital program. Continued equity raises could further dilute existing shareholders.
Source: 10-K Income Statement (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 13.70 $B | 13.19 $B | +3.92% |
Net Income $B | 1.84 $B | 2.86 $B | -35.81% |
EPS (Basic) $ | 2.75 $ | 4.44 $ | -38.06% |
EPS (Diluted) $ | 2.75 $ | 4.42 $ | -37.78% |
Answers draw on this SEC filing and the data on this page
Sempra's Q2 2026 earnings surged 73% to $796 million, fueled by a rate surcharge at Oncor, commodity derivative gains, and tax benefits from held-for-sale classifications of SI Partners and Ecogas.
SRE reported Q1 FY2026 net income of $1.04B (+13.1% YoY) on revenue of $3.43B (-6.9% YoY), with strong operating cash flow of $1.81B and a significant balance sheet expansion driven by a surge in current assets.
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