# Superior Plus Corp. (SPB.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Utilities / Gas Utilities. Price C$7.12, market value C$1.5 billion.

## Valuation
- **P/E (trailing): 712.0×** (5-yr avg 30.9×, 3-yr avg 40.0×). Superior Plus Corp. trades at 712.0× trailing earnings, well above its own five-year average of 30.9×: investors are paying up relative to the company's past. The Utilities median in the September 2026 study was 21.2×. Forward P/E is 10.3×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.03**. A PEG of 0.03 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.5×**. Each dollar of revenue is priced at 0.5×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 7.3×**. Enterprise value is 7.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 18.2%** (5-yr avg 9.9%). Free cash flow equals 18.2% of the market value, above its five-year average of 9.9%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 0.1%**. The inverse of the P/E: 0.1% of the price is earned each year.

## Profitability
- **Gross margin: 50.0%**. Superior Plus Corp. keeps 50.0% of revenue after the direct cost of what it sells.
- **Operating margin: 8.2%**. 8.2% of revenue is left after running the business.
- **Net margin: 2.5%**. 2.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.7%**. 7.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.6%**. Return on all capital, debt included, is 3.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -0.1%**. Each dollar of assets produces -0.1% of profit.

## Growth
- **Revenue growth (1 yr): 58.9%** (3-yr -0.2%/yr, 5-yr 12.1%/yr). Revenue grew 58.9% over the last year, against 12.1% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 344.2%** (5-yr -5.0%/yr). Earnings per share rose 344.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 18.4%/yr**. Free cash flow has compounded at 18.4% a year over three years.

## Financial health
- **Debt to equity: 2.31**. Debt is 2.31 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 4.6×**. It would take 4.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 2.2×**. Operating profit covers interest 2.2×, thin but manageable.
- **Current ratio: 0.95** (quick 0.80). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.56**. A Z-score of 1.56 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.53%** (C$0.18 per share, trailing). Superior Plus Corp. yields 2.53%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 79%** (24% of free cash flow). 79% of earnings goes out as dividends, leaving a thin cushion.
- **Dividend growth (5 yr): -24.2%/yr** (1-yr -69.2%). The dividend has not grown over five years.

## Price and momentum
- **Total return (1 yr): -2.4%** (YTD 2.4%, 3-mo -14.5%). The shares are down 2.4% over twelve months including dividends.
- **From 52-week high: -19.6%** (17.5% above the low). Trading 20% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): -0.10** (volatility 40%). Beta of -0.10 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SPB.TO · Page: https://foliofundamentals.com/stocks/spb.to

Not investment advice.