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.
Net new backlog added in the latest quarter: -$82.0M.
Over the last twelve months it turned about 368% of its opening backlog into revenue (12-month conversion).
The company reports 3% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 2.1% of the backlog.
Twelve-month book-to-bill: 0.97, i.e. 0.97 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -8 points — revenue is catching up with orders.
The latest filed figure is more than 200 days old.
Sempra backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2025
$3.29B
$12.9B
0.3 yrs
$69.0M
30 Jun 2025
$3.37B
$12.9B
0.3 yrs
$142M
31 Mar 2025
$3.47B
$13.2B
0.3 yrs
$169M
31 Dec 2024
$3.52B
$13.2B
0.3 yrs
$196M
30 Sep 2024
$3.62B
$13.0B
0.3 yrs
$196M
30 Jun 2024
$3.68B
$13.5B
0.3 yrs
$198M
31 Mar 2024
$2.96B
$13.9B
0.2 yrs
$199M
31 Dec 2023
$3.03B
$16.7B
0.2 yrs
$198M
30 Sep 2023
$5.53B
$17.1B
0.3 yrs
$264M
30 Jun 2023
$5.62B
$17.4B
0.3 yrs
$249M
31 Mar 2023
$5.83B
$17.6B
0.3 yrs
$250M
31 Dec 2022
$5.96B
$14.4B
0.4 yrs
$252M
Questions
What is Sempra's backlog?
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.
How fast does Sempra's backlog turn into revenue?
Over the last twelve months Sempra recognised revenue equal to about 368% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.