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NYSE · Consumer Discretionary

SUBURBAN PROPANE PARTNERS LP (SPH)

As-reported financials and SEC filings for SUBURBAN PROPANE PARTNERS LP. The latest annual period is FY2025. The latest reported quarter is Q3 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About SUBURBAN PROPANE PARTNERS LP

Suburban Propane Partners L.P. is a nationwide marketer and distributor of energy products including propane, renewable propane, renewable natural gas, fuel oil, and refined fuels. The company serves approximately 1 million residential, commercial, industrial, and agricultural customers across 42 states, primarily on the east and west coasts and parts of the Midwest and Alaska. It also provides home comfort equipment installation and service, and invests in renewable energy technologies such as renewable natural gas production and low-carbon fuels.

Snapshot

Revenue
$1.43B
Revenue growth (YoY)
7.9%
Net income
$106.6M
Diluted EPS
$1.62
Gross margin
60.6%
Operating margin
14.4%
Net margin
7.4%
FCF margin
8.0%
ROE
net income / fiscal-year-end equity
P/E
9.1×
trailing when available, otherwise FY EPS
Market cap
$1.18B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended September 27, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Suburban Propane Partners

  • Revenue grew 7.9% to $1.4B in FY2025, after a 7.1% decline the year before.
  • Operating margin is 14.4% in FY2025, -2.1 pp against 16.5% in FY2021.
  • Most recent quarter Q3 FY2026: revenue $261M, up 0.5% from Q3 FY2025.
  • Free cash flow was $114M in FY2025, 8.0% of revenue.
  • Net income rose 43.7% to $107M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Suburban Propane Partners’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin60.6%
88th percentile of 275
Operating margin14.4%
84th percentile of 348
Net margin7.4%
74th percentile of 377
FCF margin8.0%
72nd percentile of 351
Revenue growth (YoY)+7.9%
69th percentile of 394
P/E9.1×
14th percentile of 249
Short interest1.20d
16th percentile of 401

Suburban Propane Partners’s gross margin of 60.6% ranks in the 88th percentile of the 275 Consumer Discretionary companies reporting it. Suburban Propane Partners’s P/E of 9.1 ranks in the 14th percentile of the 249 peers with a meaningful P/E.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $50,267. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 quant / multi-strat book among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+1 quant / multi-strat
Initiated / added
1
0 new, 1 added
Reduced / exited
0
0 trimmed, 0 exited
Combined position
$2.4M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$2.4M139.0KAdded

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$50K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-31
filed 2026-09-01
Koepke Bryon LVP,General Counsel & SecretarySell2.8K$17.65$50K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
328.0K
settled 2026-08-14
Change vs prior
+31.3%
vs previous settlement
Days to cover
1.20
at avg daily volume
Avg daily volume
272.2K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-14328.0K+31.3%1.20
2026-07-31249.8K+4.1%1.72
2026-07-15240.0K+8.1%1.74
2026-06-30222.1K-28.2%1.00
2026-06-15309.5K+8.6%1.55
2026-05-29285.0K-28.4%2.43
2026-05-15398.0K+3.3%1.88
2026-04-30385.4K-8.0%3.79

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.43B$1.33B$1.43B$1.50B$1.29B
Gross profit$868.8M$805.0M$839.1M$789.3M$803.3M
Operating income$206.3M$171.3M$206.8M$206.3M$213.2M
Net income$106.6M$74.2M$123.8M$139.7M$122.8M
Diluted EPS$1.62$1.14$1.92$2.18$1.94

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$405,000$3.2M$3.5M$4.1M$5.8M
Current assets$166.3M$157.5M$164.0M$174.9M$180.1M
Total assets$2.30B$2.27B$2.27B$2.10B$2.05B
Current liabilities$302.8M$306.1M$307.8M$306.6M$287.1M
Long-term debt$1.21B$1.21B$1.19B$1.08B$1.12B
Total liabilities$1.70B$1.73B$1.72B$1.61B$1.63B
Total equity

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$186.3M$160.6M$225.2M$220.5M$226.6M
Capital expenditure$72.0M$59.4M$44.9M$44.4M$29.9M
Free cash flow$114.3M$101.2M$180.3M$176.2M$196.7M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q3 FY2026$261.4M0.5%$-17.5M$-0.26
Q2 FY2026$551.2M-6.2%$137.5M$2.06
Q1 FY2026$370.4M-0.8%$45.8M$0.69
Q4 FY2025$211.4M1.3%$-35.1M
Q3 FY2025$260.1M2.2%$-14.8M$-0.23
Q2 FY2025$587.7M18.0%$137.1M$2.10
Q1 FY2025$373.3M2.0%$19.4M$0.30
Q4 FY2024$208.6M-7.9%$-44.6M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryRetail-Miscellaneous Retail
Latest annual periodFY2025 (ended September 27, 2025)
Latest reported quarterQ3 FY2026 (ended June 27, 2026)
Oldest indexed filing2010
SEC CIK1005210

Selected SEC filings

10-K2025-11-26
View on EDGAR →
10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
10-Q2026-02-05
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-07-23
View on EDGAR →
8-K2026-07-22
View on EDGAR →
8-K2026-05-07
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.