SRE SEMPRA

Overview and Growth

Fiscal 2025 results for SEMPRA combined $13.70B of revenue with net income of $1.84B and an operating cash inflow of $4.57B. The $13.70B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 3.9% above fiscal 2024 revenue of $13.19B, marking a year-over-year increase. Diluted earnings per share were $2.75, translating the period’s attributable earnings into the amount reported for each diluted share. The per-share result recorded a 37.8% decrease from fiscal 2024 diluted EPS of $4.42. At period end, total assets were $110.88B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.12x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Net income came to $1.84B, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 13.4% margin after operating costs and the remaining recognized items. The earnings statement records $1.79B of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 13.1%, relating income before taxes directly to revenue. The company recognized $701.00M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 39.2%, without assuming a statutory-rate comparison. Return on period-end equity was 4.7%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 1.7%, connecting net income with the company’s total asset base. Against $2.86B in fiscal 2024, the current $1.84B bottom line finished below the prior-year result in absolute terms.

Liquidity and Capital Structure

Total assets were $110.88B, supported by $68.88B of liabilities and $38.79B of shareholder equity. The near-term balance sheet paired $34.84B of current assets with $21.89B of current liabilities at the reporting date. At 1.59x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $29.00M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 0.1%, excluding receivables and other current assets. Book equity represented 35.0% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 62.1%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 0.0%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 15.3% from $96.16B in fiscal 2024, leaving current total assets higher year over year. Against $37.79B of equity in fiscal 2024, the current book-equity balance moved 2.7% and ended higher. Compared with $1.56B in fiscal 2024, the current cash balance moved 98.1% and finished lower.

Cash Flow and Earnings Quality

The company reported $4.57B of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 2.49x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $10.61B of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 232.5% of operating cash flow, leaving the remainder available as free cash flow. Operating cash flow and capital spending combined to leave a $6.05B cash deficit after capital spending. The free-cash-flow deficit equaled 44.1% of revenue, showing the post-investment cash shortfall relative to sales. Relative to total assets, the post-investment cash deficit measured 5.5%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.