Filing Flows › Sempra (SRE) › Q4 2025
Sempra (SRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Sempra (SRE) reported revenue of $3.7B for the fourth quarter 2025 (Q4 2025), -0.2% from a year earlier and +19% from the quarter before. Operating margin was 12.6%, net earnings $352M (9.4% of revenue).
Sempra, Q4 2025: revenue $3.7B (-0.2% year over year), operating margin 12.6%, net earnings $352M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +19% | -0.2% |
| Operating profit | $474M | -25% | -63% |
| Net earnings | $352M | +271% | -48% |
| Operating cash flow | $1.2B | +7% | -13% |
What changed
Revenue was $3.7B in Q4 2025, roughly flat year over year and up 19% from the previous quarter. Natural Gas, Gathering, Transportation, Marketing and Processing was the largest line at 57% of revenue.
Operating profit was $0.47B, a 12.6% margin (down 21.2 points year over year). Total costs grew 32% against flat revenue. Net earnings were $0.35B, down 48% year over year. The effective tax rate was -2.1%.
Operating cash flow was $1.2B (down 13% year over year), 246% of net income including minority interests. Non-cash charges added back $0.61B of depreciation and amortization and $0.04B of share-based compensation. Capital expenditures of $3.4B exceeded it, leaving free cash flow of −$2.2B.
Questions
What was Sempra's revenue in the fourth quarter 2025?
Sempra (SRE) reported revenue of $3.7B for the fourth quarter 2025 (Q4 2025), -0.2% from a year earlier and +19% from the quarter before.
Was Sempra profitable in the fourth quarter 2025?
Operating profit was $474M (12.6% of revenue) and net earnings $352M.
Source: Sempra 10-K on SEC EDGAR.