Sempra (SREA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-329.0%

-$42.78

vs $18.68 price

Levered DCF

-$123.24

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.7

Distress zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	8.04×	5.11×	5.19×	6.52×	13.6×	4.39×	6.25×	11.97×
P/B	0.46×	0.46×	0.55×	0.5×	0.66×	0.71×	0.74×	0.79×
P/S	1.05×	1.09×	0.94×	0.94×	1.33×	1.46×	1.37×	1.15×
EV / EBITDA	7.55×	9.24×	8.09×	9.45×	8.91×	9.05×	9.35×	12.26×
Gross margin	29.2%	40.9%	35.5%	31.7%	36.6%	39.6%	30.0%	37.8%
Operating margin	23.7%	40.2%	34.9%	31.3%	36.1%	38.7%	25.4%	0.9%
Net margin	13.4%	21.7%	18.4%	14.8%	10.2%	34.6%	20.3%	9.6%
Current ratio	1.59×	0.55×	0.54×	0.6×	0.44×	0.66×	0.36×	0.48×
Debt / equity	1.19×	1.16×	1.11×	1.09×	0.95×	1.03×	1.32×	1.43×
Interest coverage	2.12×	4.07×	3.41×	4.29×	4.12×	4.52×	2.81×	0.13×
Dividend yield	11.4%	10.7%	9.7%	10.8%	8.4%	8.0%	7.7%	7.2%
Payout ratio	89.4%	53.9%	49.7%	68.9%	108.6%	33.9%	51.6%	85.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.8%	9.2%	10.7%	7.9%	5.1%	16.8%	11.0%	6.6%
Return on invested capital	2.6%	5.5%	6.4%	5.0%	6.6%	6.4%	3.8%	0.2%
Return on assets	1.7%	3.0%	3.5%	2.7%	1.8%	5.9%	3.3%	1.9%
Free cash flow yield	-41.9%	-23.0%	-13.8%	-30.9%	-4.7%	-8.0%	-4.2%	-0.2%
Earnings yield	12.7%	19.9%	19.5%	15.7%	7.7%	23.8%	14.9%	8.4%
Enterprise value	$51.9B	$48.9B	$47.2B	$42.7B	$41.3B	$39.8B	$40.9B	$37.9B
Net debt / EBITDA	5.45×	6.52×	5.39×	6.44×	5.23×	5.28×	5.98×	7.9×
Cash conversion cycle (days)	19	-10	3	29	16	12	17	6