Suburban Propane Partners, L.P., through its subsidiaries, (SPH) Fair Value & Analysis

Utilities · US · Market cap $1.1B

A solid business, but screening 11% overvalued on our models.

What matters now

• A fairly wide model range ($11.02 to $24.29) leaves room in how you read the outcome.
• Our model range runs from $11.02 (bear) to $24.29 (bull), base $15.79. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 53/100 (solid quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range $10.03 – $20.44 · fair‑value band $11.02 – $24.29 · the $17.71 price screens above the $15.79 fair value. Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Suburban Propane Partners, L.P., through its subsidiaries, (SPH) currently trades at $17.71, while our model-based Fair Value estimate is $15.79, implying the stock looks roughly 10.8% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Suburban Propane Partners, L.P., through its subsidiaries, generated revenue of $1.4B at a net margin of 9.6%. Revenue declined 6.2% year over year. It earns a return on equity of 18.8%. Net debt stands at $1.3B. Fundamentals as of Jul 18, 2026

Our scenario range runs from $11.02 (bear case) to $24.29 (bull case); at $17.71, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -19% fair-value upside, at -11%, SPH screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples ($23.75) versus Growth DCF ($1.31). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, renewable natural gas, fuel oil, and refined fuels in the United States. It operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other.

Full company description

Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, renewable propane, renewable natural gas, fuel oil, and refined fuels in the United States. It operates through four segments: Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. The Propane segment is involved in the retail distribution of propane for space heating, water heating, cooking, and clothes drying for use as a motor fuel in internal combustion engines to power over-the-road vehicles, forklifts, and stationary engines, as well as to fire furnaces as a cutting gas to the industrial customers; and for tobacco curing, crop drying, poultry brooding, and weed control in the agricultural markets. It also engages in the wholesale distribution of propane to industrial end users. Its Fuel Oil and Refined Fuels segment engages in the retail distribution of fuel oil, diesel, kerosene, and gasoline to residential and commercial customers for use in primarily as a source of heat in homes and buildings. The Natural Gas and Electricity segment markets natural gas and electricity to residential and commercial customers in the deregulated energy markets. Its All Other segment sells, installs, and services a range of home comfort equipment, including whole-house heating products, air cleaners, humidifiers, and space heaters. The company serves residential, commercial, industrial, and agricultural customers. Suburban Propane Partners, L.P. was founded in 1945 and is based in Whippany, New Jersey.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Suburban Propane Partners, L.P., through its subsidiaries, reported revenue of $1.4B in FY2025 versus $1.3B in FY2021, a compound +2.7%/yr. Reported net income was $107M in FY2025, compounding −3.5%/yr from FY2021.

SPH screens 11% overvalued. Compare with Naturgy Energy Group →

Peer Group

Utilities - Regulated Gas · 104 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.