Is Spire Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Spire Inc. has moved from fair to expensive, indicating that the stock is overvalued. The company exhibits a P/E ratio of 17, a Price to Book Value of 1.24, and an EV to EBITDA of 11.44, which are relatively high compared to its peers. For instance, New Jersey Resources Corp. has a P/E of 11.53 and an EV to EBITDA of 10.99, suggesting that Spire Inc. is trading at a premium.
In terms of recent performance, Spire Inc. has outperformed the S&P 500, with a year-to-date return of 25.83% compared to the index's 13.30%. However, over the last three years, the company's return of 31.92% pales in comparison to the S&P 500's 81.19%, reinforcing the notion that the stock may be overvalued given its performance relative to the broader market.