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Stock

Sempra

SREA
50
Diversified Utilities · Utilities
Price
$19.94
+0.01 (+0.05%)
Market Cap
$13.03B
Exchange
New York Stock Exchange
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Weak
Cash Flow
Good
Stability
Mixed
Valuation
Good
Dividends
Good
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Share count rising — dilution

+4.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 626.1M (2021) → 652.7M (2025)

§Winston Score History

The full picture

Sempra is a large energy infrastructure company based in San Diego, California. It delivers electricity and natural gas to millions of customers through its regulated utilities, including San Diego Gas & Electric and Southern California Gas Company, one of the largest natural gas distributors in the United States. It also develops and operates energy infrastructure like liquefied natural gas (LNG) export facilities and transmission networks.

Sempra makes most of its money through regulated utility rates, meaning government agencies approve the prices it charges customers. It operates primarily in California and Texas, with growing infrastructure investments in Mexico and LNG projects along the Gulf Coast. Its regulated business provides steady, predictable revenue, which acts as a financial moat. The company's key growth driver is expanding LNG export capacity to meet rising global demand for natural gas, though regulatory challenges in California and large capital spending requirements remain notable risks.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+71.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

72.2%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 years

$19.2B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$19.2B cash & investments at current burn rate

Revenue declining

Sempra's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
96.4%
Premium pricing power — 96.4% gross margin
Profit after running costs
Operating Margin
27.8%
Excellent — 27.8% operating margin
Return on the money invested
ROCE
3.5%
Weak — 3.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+1.7%
Nearly flat sales (+1.7% YoY)
Profit growth
EPS YoY
-16.6%
Earnings shrinking (-16.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
227%
Turns 227% of profit into real cash
Spare cash per sale
FCF Margin
-38.7%
Burning cash (-38.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.08
Elevated debt (1.08)
Covers its interest
Interest Cover
1.54x
Dangerous — barely covers interest (1.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
5.7x
Attractive valuation — P/E 5.7

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-8.4
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
7.21%
Healthy income — 7.21% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+0.0%
Dividend flat

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