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Utility holding company operating California gas/electric utilities (SDG&E, SoCalGas) and LNG export infrastructure abroad.
Utility holding company operating California gas/electric utilities (SDG&E, SoCalGas) and LNG export infrastructure abroad.
Earns regulated returns from its California utilities and from Oncor, the Texas power-delivery utility it controls through Sempra Texas, a large regulated business. Sempra Infrastructure adds LNG export capacity at Cameron and Port Arthur, tied to long-term contracts. It reshaped itself from 2020 by selling its South American utilities.
Moat: wide (regulatory licence, scale, installed base). Regulated monopoly service territories plus large-scale LNG export assets with long-term contracts.
Headquarters: San Diego, California, US · Founded: 1998 · Employees: 15,938
Size Sempra (SRE) is a United States Utilities company (Gas Distributors) with a market value of $51.1B, the 249th largest of 3,117 United States companies the cockpit tracks. Shares closed at $78.17 on 6 Nov 2026.
Performance Over six months the shares fell 14.0%, against -3.0% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 9 in its peer set.
Growth Revenue grew 0.9% over the last twelve months (peer median +5.8%); the operating margin is 25.3% (peer median 22.8%).
Valuation It trades at 15.2× forward earnings against a peer median of 15.4× (5th cheapest of 9).
Capital Return on invested capital runs 3.4 points below its cost of capital (6.7% WACC).
Backlog Backlog (remaining performance obligations) was $3.29B at 30 Sep 2025, down 9% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Credit Sempra has 46 bonds outstanding ($23.7B), rated A by the agencies and trading like A- at a weighted spread of 80 bp.
Short interest Short interest is 2.1% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.3B | $13.7B | $13.0B | $15.8B | $15.6B |
| Revenue growth | — | +6% | -18% | +2% | — |
| Gross profit | $4.16B | $4.00B | $3.52B | $3.75B | $4.16B |
| EBITDA | $5.87B | $5.82B | $5.27B | $5.30B | $5.54B |
| Net income | $2.28B | $1.84B | $2.86B | $3.08B | $2.14B |
| Free cash flow | -$5.24B | -$6.05B | -$3.31B | -$2.18B | -$4.21B |
| Capital expenditure | $10.7B | $10.6B | $8.21B | $8.40B | $5.36B |
| Total debt | $36.7B | $36.3B | $36.1B | $31.7B | $29.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sempra SRE | $51.1B | -14% | +1% | 25% | 15.2× | n/a |
| Edison International EIX | $22.8B | -14% | +3% | 27% | 9.2× | n/a |
| PG&E PCG | $28.6B | -19% | +4% | 20% | 7.4× | n/a |
| Cheniere Energy LNG | $56.8B | +16% | +28% | 31% | 13.0× | -8.6% |
| NextEra Energy NEE | $182B | -6% | +13% | 30% | 21.0× | 18.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SRE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.4% | +3.5% | 2nd lowest of 9 |
| 6-month return | -14.0% | -3.0% | lowest of 9 |
| Distance from 52-week high | -22.1% | -10.0% | lowest of 9 |
| Revenue growth (TTM) | +0.9% | +5.8% | 2nd lowest of 9 |
| Operating margin | 25.3% | 22.8% | 5th highest of 9 |
| Forward P/E | 15.2× | 15.4× | 5th cheapest of 9 |
| ROIC minus cost of capital | -3.4 pp | -0.9 pp | lowest of 9 |
| EV / EBITDA | 16.7× | 13.3× | 2nd most expensive of 7 |
| Net debt / EBITDA | 6.2× | 4.1× | 2nd most indebted of 7 |
| Bond spread | 80 bp | 86 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sempra SRE | United States | $51.1B | -14% | +1% | 25% | 15.2× | n/a | n/a |
| Naturgy Energy NTGY.MC | Spain | $31.8B | +8% | +5% | 18% | 13.1× | -7.4% | +4.9% |
| Atmos Energy ATO | United States | $29.3B | -4% | +6% | 37% | 19.3× | n/a | n/a |
| Cheniere Energy Partners, L.P CQP | United States | $27.8B | -8% | +13% | 33% | 12.0× | -13.4% | +12.7% |
| Snam SRG.MI | Italy | $23.3B | -2% | +9% | 46% | 14.5× | 9.3% | +6.9% |
| NiSource NI | United States | $21.2B | -6% | +10% | 27% | 20.3× | n/a | n/a |
| HK & China Gas 0003.HK | Hong Kong | $17.6B | +3% | +2% | 14% | 21.6× | 8.7% | +5.8% |
| Osaka Gas 9532.T | Japan | $13.3B | -2% | +1% | 7% | 14.6× | 4.0% | +8.3% |
| Tokyo Gas 9531.T | Japan | $13.1B | -7% | +4% | 7% | 16.3× | -1.8% | +9.9% |
Sempra has 46 bonds outstanding with $23.7B face value. The agencies rate it A; its bonds trade like A-. Weighted yield 5.78%, a spread of 80 bp over government bonds.
Sempra reported $3.29B of remaining performance obligations at 30 Sep 2025, down 9% from a year earlier and down 2% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.