# Sempra (SRE)

> Source: Nexqual · https://nexqual.com/SRE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Sempra (SRE), nexqual.com/SRE" · informational, not investment advice.

**Price:** USD 84.77 (+1.52% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 83.5 · day 83.59–84.98 · 52w 76.21–101.04 · market cap $55.4B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $13.5B, net income $2.28B (16.8% margin), free cash flow -$5.24B (SEC filings).
- Valuation: P/E 24.3x (avg 22.1x at the last 3 fiscal year-ends), net debt $34.5B.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (21 analysts), mean target USD 97.42 (range 83–118).
- Total return with dividends: 1Y -4.9% vs S&P 500 +14.9%; 5Y +51.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.21, revenue estimate $3.31B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.9B | $14.4B | $16.7B | $13.2B | $13.7B | $13.5B |
| Net income | $1.32B | $2.14B | $3.08B | $2.86B | $1.84B | $2.28B |
| EPS (diluted) | $2.01 | $3.31 | $4.79 | $4.42 | $2.75 | — |
| Free cash flow | -$1.17B | -$4.21B | -$2.18B | -$3.31B | -$6.05B | -$5.24B |
| Net margin | 10.3% | 14.8% | 18.4% | 21.7% | 13.4% | 16.8% |
| Revenue growth | +13.1% | +12.3% | +15.8% | -21.1% | +3.9% | — |
| Cash + short-term investments | $559M | $370M | $236M | $1.56B | $29.0M | — |
| Total debt | $24.5B | $27.9B | $30.1B | $33.6B | $33.1B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 24.3x · P/S 4.1x · EV/Sales 6.6x · P/B 1.7x · FCF yield -9.46% · Earnings yield 4.12% · Dividend yield (paid, TTM) 2.96% · Buyback yield (TTM) 0.04% · Net debt $34.5B · EV $90.0B
P/E at fiscal year-ends: Dec 2025 31.4x, Dec 2024 19.6x, Dec 2023 15.4x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 21 analysts; mean target USD 97.42 (low 83, high 118).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | HSBC | Initiated | Buy | $97.5 |
| 2026-10-14 | Truist Securities | Target lowered | Buy | $96 → $94 |
| 2026-10-12 | Barclays | Target lowered | Overweight | $103 → $90 |
| 2026-10-12 | JP Morgan | Target lowered | Overweight | $102 → $99 |
| 2026-09-29 | Scotiabank | Initiated | Sector Perform | $83 |
| 2026-09-18 | Morgan Stanley | Target lowered | Overweight | $104 → $100 |
| 2026-09-03 | Truist Securities | Target lowered | Buy | $100 → $96 |
| 2026-09-02 | JP Morgan | Target lowered | Overweight | $113 → $102 |
| 2026-09-01 | Jefferies | Upgrade | Hold → Buy | $101 → $97 |
| 2026-08-31 | Mizuho | Downgrade | Outperform → Neutral | $104 → $84 |
| 2026-08-21 | Morgan Stanley | Target lowered | Overweight | $108 → $104 |
| 2026-08-13 | Truist Securities | Target lowered | Buy | $107 → $100 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -4.9% | +51.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -4.9% | +8.6% |
| Volatility (annualized) | 20.4% | 23.5% |
| Max drawdown | -21.7% (Apr 2026→Sep 2026) | -29.0% (Nov 2024→Mar 2025) |

## Peers (Utilities - Diversified)
BIP (Brookfield Infrastructure Partn) USD 37.29 +2.53% · AES (The AES Corporation) USD 14.97 -0.00% · AQN (Algonquin Power & Utilities Cor) USD 5.45 +2.64% · AVA (Avista Corporation) USD 37.74 +2.22% · UTL (UNITIL Corporation) USD 55.06 +2.76%

## More
Full page: https://nexqual.com/SRE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Sempra California | $2.58B | 92.0% | +5.2% |
| Sempra Infrastructure | $251.0M | 9.0% | -8.7% |
| Total revenue | $2.80B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Utilities | $2.58B | 92.0% | +5.2% |
| Gas | $1.38B | 49.2% | -13.8% |
| Electric | $1.20B | 42.9% | +40.7% |
| Total revenue | $2.80B | 100% | — |
The lines above cover 184.1% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Entity Wide Disclosure On Geographic Areas United States | $12.14B | 97.7% | +4.4% |
| Entity Wide Disclosure On Geographic Areas Mexico | $1.57B | 12.6% | +0.3% |
| Total revenue | $12.42B | 100% | — |
The lines above cover 110.3% of total revenue.

## Company outlook (8-K filed 2026-08-06)

- "Sempra is updating its full-year 2026 GAAP earnings-per-common share (EPS) guidance range to $5.02 to $5.55, reflecting actual results through the second quarter, affirming its 2026 adjusted EPS guidance range of $4.80 to $5.30 and affirming its full-year 2027 EPS guidance range of $5.10 to $5.70."
- "Sempra is also affirming a 7% to 9% projected long‑term EPS growth rate."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.21 | $1.00 | +20.9% | $3.31B | 14 |
| Next quarter (ends 2026-12-31) | $1.25 | $1.55 | -19.4% | $3.89B | 11 |
| Current fiscal year (ends 2026-12-31) | $5.13 | $5.11 | +0.4% | $13.81B | 17 |
| Next fiscal year (ends 2027-12-31) | $5.54 | $5.54 | +0.0% | $13.79B | 18 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±5.6%; last 8 reports averaged ±4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 25.0% | ±5.6% |
| 2026-12-18 | 56 | 22.5% | ±7.3% |
| 2027-01-15 | 84 | 21.5% | ±8.3% |
| 2027-04-16 | 175 | 21.0% | ±11.6% |