Recent News
Suburban Propane served as title sponsor of the Suburban Propane 300 at Bristol Motor Speedway on April 11, 2026, after the sponsorship announcement in late February.
The company promoted an executive to lead its renewable energy division in February–March 2026, signaling continued focus on RNG and renewable propane initiatives.
Technical Analysis
Directional indicators (ADX/DI+/DI-): ADX at 19.21 classifies the market as lacking a strong trend. DI- sits at 19.91 and is increasing while DI+ peaked and has reversed from 11.95, which together indicate directional pressure toward sellers and a bearish breadth bias that reduces confidence in a sustained breakout.
MACD: MACD at -0.12 with a peak-and-reversal trend and a signal line at -0.05 shows negative, declining momentum; MACD remains below its signal line, indicating bearish momentum rather than a bullish crossover.
MRO (Momentum/Regression Oscillator): MRO equals -28.74, which means the price sits below the model target and suggests potential upward mean reversion pressure; however, the MRO’s recent peak-and-reversal tempers that potential into a conditional recovery scenario rather than a clear buy signal.
RSI: RSI at 50.82 registers near neutral but shows a peak-and-reversal pattern, implying that prior short-term gains exhausted and upside momentum has weakened.
Price vs moving averages and cloud: Last close $19.63 trades above the 200-day average ($18.88) yet below the 20-day average ($19.98); the 12-day EMA displays a peak-and-reversal, so the longer-term average offers mild support while short-term averages and the Ichimoku configuration (Tenkan $19.79, Kijun $19.90, Senkou A $20.14, Senkou B $19.34) place the price inside the cloud—consistent with consolidation and limited directional conviction.
Bands, trend & volume context: Price sits near the lower Bollinger band (lower 1σ $19.64) and above the super-trend support at $19.57, suggesting compressed volatility and short-term support; volume currently runs below 10-, 50- and 200-day averages, which weakens breakout prospects.
Fundamental Analysis
Profitability & margins: EBIT equals $65,767,000 and EBIT margin stands at 17.76%, below the industry peer mean of 31.04% and median of 30.26% but well above the industry peer low of 1.26%, indicating acceptable operating conversion but less efficiency than typical peers.
Revenue and earnings trends: YoY revenue growth registers -4.70%, showing slight contraction versus the prior year. Reported EPS equaled $0.70 against an estimate of $0.75, producing an EPS surprise of -6.67%. Year-over-year earnings growth reads 60.045%, though quarterly comparisons show some softness; these mixed signals pair a weak top-line trend with residual profitability improvements.
Cash flow and liquidity: Free cash flow totals $-67,471,000 and free cash flow yield equals -5.33%, both reflective of cash drainage; operating cash flow totaled $-47,666,000 and the cash conversion ratio equals -10.12%, underscoring cash-generation stress. Cash on hand remains minimal at $1,284,000 and the cash ratio equals 0.47%.
Leverage and coverage: Total debt reached $1,434,945,000 with net debt $1,321,221,000; debt-to-equity stands at 229.14%, above the industry peer mean of 163.09% and inside the industry peer range low–high. Interest coverage equals 3.33x, below the industry peer mean of 4.25x, which tightens sensitivity to rate moves and operating setbacks.
Working capital and efficiency: Cash conversion cycle sits at 55.12 days (within an industry peer range that extends substantially lower and higher), inventory turns near 1.83 and asset turnover at 0.158 slightly above the industry peer mean of 0.1138—operations generate revenue from assets but at modest velocity relative to revenue scale.
Dividend & payout: Quarterly distribution continues with a dividend rate of $0.32263 and a dividend payout ratio of 46.74%; dividend coverage reads 2.14x, which supports distribution sustainability in the absence of further cash deterioration.
Valuation: WMDST values the stock as over-valued. Price/earnings equals 27.27 while price/book equals 2.02, both below some peer means but combined with negative free cash flow and elevated leverage these multiples reflect stretched fundamentals against near-term cash constraints.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-05 |
| NEXT REPORT DATE: | 2026-05-07 |
| CASH FLOW | Begin Period Cash Flow | $ 11.8 M |
| Operating Cash Flow | $ -47.67 M | |
| Capital Expenditures | $ -19.80 M | |
| Change In Working Capital | $ -115.39 M | |
| Dividends Paid | $ -21.40 M | |
| Cash Flow Delta | $ -196.00 K | |
| End Period Cash Flow | $ 11.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 370.4 M | |
| Forward Revenue | $ 68.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 130.8 M | |
| Depreciation | $ 16.9 M | |
| Depreciation and Amortization | $ 16.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 302.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 239.5 M | |
| EBITDA | $ 82.6 M | |
| EBIT | $ 65.8 M | |
| Operating Income | $ 67.7 M | |
| Interest Income | — | |
| Interest Expense | $ 19.8 M | |
| Net Interest Income | $ -19.76 M | |
| Income Before Tax | $ 46.0 M | |
| Tax Provision | $ 231.0 K | |
| Tax Rate | 0.502 % | |
| Net Income | $ 45.8 M | |
| Net Income From Continuing Operations | $ 45.8 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.75 | |
| EPS Actual | $ 0.70 | |
| EPS Difference | $ -0.05 | |
| EPS Surprise | -6.667 % | |
| Forward EPS | $ 0.51 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 1.3 B | |
| Net Tangible Assets | $ -1.26 B | |
| Total Current Assets | $ 236.0 M | |
| Cash and Short-Term Investments | $ 1.3 M | |
| Cash | $ 1.3 M | |
| Net Receivables | $ 129.3 M | |
| Inventory | $ 69.3 M | |
| Long-Term Investments | $ 79.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 47.9 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 272.6 M | |
| Net Debt | $ 1.3 B | |
| Total Debt | $ 1.4 B | |
| Total Liabilities | $ 1.8 B | |
| EQUITY | ||
| Total Equity | $ 626.2 M | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.44 | |
| Shares Outstanding | 66.329 M | |
| Revenue Per-Share | $ 5.58 | |
| VALUATION | Market Capitalization | $ 1.3 B |
| Enterprise Value | $ 2.7 B | |
| Enterprise Multiple | 32.673 | |
| Enterprise Multiple QoQ | -98.42 % | |
| Enterprise Multiple YoY | -29.889 % | |
| Enterprise Multiple IPRWA | high: 59.048 mean: 41.654 median: 39.238 SPH: 32.673 low: 10.34 |
|
| EV/R | 7.289 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.826 | |
| Asset To Liability | 1.354 | |
| Debt To Capital | 0.696 | |
| Debt To Assets | 0.599 | |
| Debt To Assets QoQ | 3.43 % | |
| Debt To Assets YoY | -0.864 % | |
| Debt To Assets IPRWA | high: 0.856 SPH: 0.599 mean: 0.514 median: 0.496 low: 0.268 |
|
| Debt To Equity | 2.291 | |
| Debt To Equity QoQ | 3.146 % | |
| Debt To Equity YoY | -13.297 % | |
| Debt To Equity IPRWA | high: 5.354 SPH: 2.291 mean: 1.631 median: 1.459 low: 0.379 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.022 | |
| Price To Book QoQ | 0.674 % | |
| Price To Book YoY | -8.588 % | |
| Price To Book IPRWA | high: 5.955 mean: 3.071 median: 2.341 SPH: 2.022 low: 1.712 |
|
| Price To Earnings (P/E) | 27.27 | |
| Price To Earnings QoQ | -180.657 % | |
| Price To Earnings YoY | -56.244 % | |
| Price To Earnings IPRWA | high: 113.155 mean: 65.051 median: 49.431 SPH: 27.27 low: 17.853 |
|
| PE/G Ratio | -0.119 | |
| Price To Sales (P/S) | 3.418 | |
| Price To Sales QoQ | -39.892 % | |
| Price To Sales YoY | 5.843 % | |
| Price To Sales IPRWA | high: 39.081 mean: 12.438 median: 9.865 SPH: 3.418 low: 0.334 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 36.437 | |
| Forward PE/G | -0.159 | |
| Forward P/S | 18.415 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -6.358 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.158 | |
| Asset Turnover Ratio QoQ | 72.189 % | |
| Asset Turnover Ratio YoY | -1.522 % | |
| Asset Turnover Ratio IPRWA | high: 0.21 SPH: 0.158 mean: 0.114 median: 0.096 low: 0.031 |
|
| Receivables Turnover | 3.727 | |
| Receivables Turnover Ratio QoQ | 31.712 % | |
| Receivables Turnover Ratio YoY | -4.393 % | |
| Receivables Turnover Ratio IPRWA | high: 8.839 SPH: 3.727 mean: 2.769 median: 2.393 low: 0.769 |
|
| Inventory Turnover | 1.83 | |
| Inventory Turnover Ratio QoQ | 64.469 % | |
| Inventory Turnover Ratio YoY | -27.884 % | |
| Inventory Turnover Ratio IPRWA | high: 11.616 mean: 5.287 median: 3.642 low: 2.914 SPH: 1.83 |
|
| Days Sales Outstanding (DSO) | 24.485 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 55.118 | |
| Cash Conversion Cycle Days QoQ | -9.312 % | |
| Cash Conversion Cycle Days YoY | 218.475 % | |
| Cash Conversion Cycle Days IPRWA | high: 71.269 SPH: 55.118 median: 13.243 mean: 1.851 low: -82.244 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -10.117 | |
| CapEx To Revenue | -0.053 | |
| CapEx To Depreciation | -1.174 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.9 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ -1.26 B | |
| Net Working Capital | $ -36.61 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.005 | |
| Current Ratio | 0.866 | |
| Current Ratio QoQ | 57.664 % | |
| Current Ratio YoY | 23.986 % | |
| Current Ratio IPRWA | high: 1.43 mean: 0.891 SPH: 0.866 median: 0.783 low: 0.531 |
|
| Quick Ratio | 0.612 | |
| Quick Ratio QoQ | 100.118 % | |
| Quick Ratio YoY | 18.9 % | |
| Quick Ratio IPRWA | high: 1.176 mean: 0.717 median: 0.678 SPH: 0.612 low: 0.48 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 17.366 | |
| Cost Of Debt | 1.422 % | |
| Interest Coverage Ratio | 3.329 | |
| Interest Coverage Ratio QoQ | -429.47 % | |
| Interest Coverage Ratio YoY | 64.888 % | |
| Interest Coverage Ratio IPRWA | high: 8.945 mean: 4.245 median: 3.764 SPH: 3.329 low: 1.765 |
|
| Operating Cash Flow Ratio | 0.037 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 56.803 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.139 | |
| Dividend Payout Ratio | 0.467 | |
| Dividend Rate | $ 0.32 | |
| Dividend Yield | 0.017 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.333 % | |
| Revenue Growth | 75.226 % | |
| Revenue Growth QoQ | -501.248 % | |
| Revenue Growth YoY | -4.698 % | |
| Revenue Growth IPRWA | SPH: 75.226 % high: 44.343 % mean: 11.814 % median: 9.408 % low: -7.231 % |
|
| Earnings Growth | -229.63 % | |
| Earnings Growth QoQ | -270.37 % | |
| Earnings Growth YoY | 60.045 % | |
| Earnings Growth IPRWA | high: 442.105 % mean: 21.241 % median: 3.774 % low: -30.921 % SPH: -229.63 % |
|
| MARGINS | ||
| Gross Margin | 64.675 % | |
| Gross Margin QoQ | -0.034 % | |
| Gross Margin YoY | 6.758 % | |
| Gross Margin IPRWA | high: 78.864 % SPH: 64.675 % median: 43.607 % mean: 39.896 % low: 5.66 % |
|
| EBIT Margin | 17.756 % | |
| EBIT Margin QoQ | -315.905 % | |
| EBIT Margin YoY | 67.415 % | |
| EBIT Margin IPRWA | high: 61.514 % mean: 31.035 % median: 30.257 % SPH: 17.756 % low: 1.264 % |
|
| Return On Sales (ROS) | 18.265 % | |
| Return On Sales QoQ | -330.415 % | |
| Return On Sales YoY | 72.214 % | |
| Return On Sales IPRWA | high: 50.481 % median: 30.257 % mean: 28.648 % SPH: 18.265 % low: 1.212 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -67.47 M | |
| Free Cash Flow Yield | -5.329 % | |
| Free Cash Flow Yield QoQ | -331.293 % | |
| Free Cash Flow Yield YoY | 326.661 % | |
| Free Cash Flow Yield IPRWA | high: 4.487 % median: 1.434 % mean: 0.926 % SPH: -5.329 % low: -6.341 % |
|
| Free Cash Growth | -343.569 % | |
| Free Cash Growth QoQ | 422.594 % | |
| Free Cash Growth YoY | 85.728 % | |
| Free Cash Growth IPRWA | high: 380.46 % median: -117.647 % mean: -156.426 % SPH: -343.569 % low: -694.761 % |
|
| Free Cash To Net Income | -1.474 | |
| Cash Flow Margin | 2.726 % | |
| Cash Flow To Earnings | 0.221 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.951 % | |
| Return On Assets QoQ | -228.018 % | |
| Return On Assets YoY | 133.933 % | |
| Return On Assets IPRWA | high: 7.511 % mean: 2.033 % SPH: 1.951 % median: 1.466 % low: 0.664 % |
|
| Return On Capital Employed (ROCE) | 3.098 % | |
| Return On Equity (ROE) | 0.073 | |
| Return On Equity QoQ | -224.549 % | |
| Return On Equity YoY | 105.25 % | |
| Return On Equity IPRWA | high: 0.091 SPH: 0.073 median: 0.055 mean: 0.05 low: 0.023 |
|
| DuPont ROE | 7.476 % | |
| Return On Invested Capital (ROIC) | 3.358 % | |
| Return On Invested Capital QoQ | -542.424 % | |
| Return On Invested Capital YoY | 25.345 % | |
| Return On Invested Capital IPRWA | high: 7.82 % SPH: 3.358 % mean: 2.833 % median: 2.504 % low: 1.695 % |
|