Superior Plus Future Growth
Future criteria checks 3/6
Superior Plus is forecast to grow earnings and revenue by 21.5% and 2.9% per annum respectively. EPS is expected to grow by 23.8% per annum. Return on equity is forecast to be 10% in 3 years.
Key information
21.5%
Earnings growth rate
23.83%
EPS growth rate
| Gas Utilities earnings growth | 11.8% |
| Revenue growth rate | 2.9% |
| Future return on equity | 10.02% |
| Analyst coverage | Good |
| Last updated | 20 May 2026 |
Recent future growth updates
Recent updates
Narrative Update • Apr 29
SPB: Share Repurchases And Cost Efficiencies Will Support Future Cash Generation
Analysts have raised the price target on Superior Plus by CA$0.50, citing updated assumptions for revenue growth, profitability, valuation multiples, and funding costs as the key drivers behind the change. Analyst Commentary Recent research on Superior Plus presents a mixed picture, with several firms trimming price targets and ratings earlier in the period, followed by more constructive revisions that lift targets by CA$0.50.
Narrative Update • Apr 14
SPB: Share Repurchase And Efficiency Gains Will Rebuild Market Confidence
Analysts have trimmed the average price target for Superior Plus by CA$1 to reflect lower growth expectations, execution setbacks across both business lines, and a more cautious stance on the company’s ability to consistently meet guidance. Analyst Commentary Recent research updates on Superior Plus show a clear reset in expectations, with most firms cutting price targets and several moving to more neutral ratings.Narrative Update • Mar 31
SPB: Share Repurchases And Cost Efficiencies Will Support Future P/E Recovery
Analysts have reduced the fair value estimate for Superior Plus to CA$10.00 from CA$11.00, reflecting lower price targets across the Street and more cautious assumptions on growth, profitability, and required return. Analyst Commentary Recent Street research shows a clear reset in expectations for Superior Plus, with multiple firms cutting price targets and revising ratings.
Narrative Update • Mar 17
SPB: Execution Setbacks And Lower Guidance Will Pressure Future Share Returns
Analysts have reduced their average price targets on Superior Plus by roughly CA$1 per share, citing weaker growth expectations, recent operational setbacks, and a more cautious stance on execution across both business lines. Analyst Commentary Recent Street research on Superior Plus points to a clear reset in expectations, with several bearish analysts cutting price targets and downgrading ratings after operational issues, guidance changes, and softer growth assumptions across both propane and compressed natural gas operations.Narrative Update • Mar 03
SPB: Share Repurchase And Efficiency Program Will Restore Market Confidence
Analysts have trimmed their outlook on Superior Plus, with our fair value estimate moving from CA$9.63 to CA$7.80 as price targets across the Street shift lower on reduced growth expectations, a higher implied discount rate, and more cautious views on margins and future P/E. Analyst Commentary Recent Street commentary on Superior Plus has shifted more cautious, with several firms cutting price targets and adjusting ratings in response to execution setbacks, balance sheet concerns, and lowered growth guidance.Narrative Update • Feb 17
SPB: Higher Discount Rates And Execution Risks Will Pressure Future Returns
Analysts have trimmed their CA$ price target on Superior Plus by a small amount, reflecting slightly higher discount rate assumptions along with modestly adjusted views on revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent research on Superior Plus has taken a more restrained tone, with some price targets adjusted lower as analysts factor in higher discount rates and more conservative assumptions around revenue, margins, and P/E levels.Analysis Article • Feb 11
Is Superior Plus (TSE:SPB) Using Too Much Debt?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Narrative Update • Feb 03
SPB: Share Buybacks And Mixed Ratings Will Shape Future Risk Balance
Analysts now set their fair value estimate for Superior Plus at about $7.07, up from $6.63, reflecting a mix of reduced Street price targets in the C$9 to C$10 range, an upgrade to Buy at C$8.50, and updated assumptions around revenue growth, margins, discount rate, and future P/E. Analyst Commentary Recent research on Superior Plus reflects a mixed backdrop, with some support around C$8.50 to C$10 and a cluster of more cautious revisions that feed into the trimmed fair value estimate of about $7.07.Narrative Update • Jan 20
SPB: Share Repurchases And CNG Execution Will Support Future P/E Recovery
Analysts have trimmed their average price expectations for Superior Plus to about C$9 to C$10, reflecting lowered targets from C$12 to C$10 and from C$10 to C$9, alongside mixed ratings and ongoing concerns around pricing pressure in the Certarus CNG business. One firm, however, shifted to a Buy stance with a C$8.50 target.Analysis Article • Jan 07
Earnings Tell The Story For Superior Plus Corp. (TSE:SPB)
When close to half the companies in Canada have price-to-earnings ratios (or "P/E's") below 16x, you may consider...Narrative Update • Jan 06
SPB: Share Repurchases Will Support Potential Future P E Multiple Rebound
Analysts have trimmed their implied fair value for Superior Plus to C$11.00 from C$12.00, reflecting lower price targets in the C$8.50 to C$10.00 range and more conservative assumptions on growth, profitability and required return, while some still see room for upside on a higher future P/E multiple. Analyst Commentary Recent Street research on Superior Plus reflects a mixed but generally constructive tone, with several firms revising price targets and ratings in response to company specific developments and sector conditions.Narrative Update • Dec 14
SPB: Share Buybacks Will Balance Cautious Sentiment And Execution Risks
Analysts have trimmed their average price target on Superior Plus by about C$1.00 per share. This reflects more conservative assumptions for revenue growth and valuation multiples despite relatively stable margin expectations.Analysis Article • Nov 18
Superior Plus (TSE:SPB) Is Due To Pay A Dividend Of $0.045
Superior Plus Corp. ( TSE:SPB ) has announced that it will pay a dividend of $0.045 per share on the 15th of January...Analysis Article • Nov 16
Analysts Have Made A Financial Statement On Superior Plus Corp.'s (TSE:SPB) Third-Quarter Report
Superior Plus Corp. ( TSE:SPB ) missed earnings with its latest third-quarter results, disappointing overly-optimistic...Narrative Update • Sep 06
Operational Transformation And Clean Energy Will Unlock Future Value
With Superior Plus’s consensus price target unchanged at CA$9.62, the notable rise in its future P/E from 10.33x to 14.35x suggests investors anticipate slower earnings growth, while the discount rate held steady. What's in the News Repurchased 7,400,000 shares (3.19%) for CAD 55.2 million between April and June 2025.Analysis Article • Jul 18
Superior Plus (TSE:SPB) Has A Somewhat Strained Balance Sheet
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Analysis Article • Apr 04
We Think Superior Plus (TSE:SPB) Is Taking Some Risk With Its Debt
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Feb 28
Cautious Investors Not Rewarding Superior Plus Corp.'s (TSE:SPB) Performance Completely
When close to half the companies operating in the Gas Utilities industry in Canada have price-to-sales ratios (or...
New Narrative • Feb 20
Organic Growth Strategies Will Transform Propane Business By 2027
Superior Plus is emphasizing organic growth and operational efficiency over acquisitions to realize sustainable revenue growth and enhanced earnings.Analysis Article • Dec 14
Superior Plus' (TSE:SPB) Dividend Will Be Reduced To $0.045
Superior Plus Corp. ( TSE:SPB ) is reducing its dividend from last year's comparable payment to $0.045 on the 15th of...Analysis Article • Nov 08
Investors Aren't Buying Superior Plus Corp.'s (TSE:SPB) Revenues
When close to half the companies operating in the Gas Utilities industry in Canada have price-to-sales ratios (or...Analysis Article • Aug 19
Superior Plus (TSE:SPB) Has Affirmed Its Dividend Of $0.18
Superior Plus Corp. ( TSE:SPB ) has announced that it will pay a dividend of $0.18 per share on the 15th of October...Analysis Article • Jul 25
Is It Too Late To Consider Buying Superior Plus Corp. (TSE:SPB)?
Superior Plus Corp. ( TSE:SPB ), might not be a large cap stock, but it received a lot of attention from a substantial...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 2,700 | 132 | 307 | 389 | 3 |
| 12/31/2027 | 2,578 | 113 | 211 | 370 | 6 |
| 12/31/2026 | 2,438 | 93 | 192 | 374 | 6 |
| 3/31/2026 | 2,350 | 38 | 206 | 316 | N/A |
| 12/31/2025 | 2,461 | 57 | 214 | 329 | N/A |
| 9/30/2025 | 2,472 | 13 | 194 | 307 | N/A |
| 6/30/2025 | 2,493 | 52 | 159 | 295 | N/A |
| 3/31/2025 | 2,493 | 10 | 133 | 279 | N/A |
| 12/31/2024 | 2,382 | -37 | 114 | 274 | N/A |
| 9/30/2024 | 2,405 | 17 | 90 | 278 | N/A |
| 6/30/2024 | 2,441 | -1 | 140 | 313 | N/A |
| 3/31/2024 | 2,451 | 16 | 129 | 294 | N/A |
| 12/31/2023 | 2,483 | 39 | 258 | 406 | N/A |
| 9/30/2023 | 2,548 | 27 | 294 | 404 | N/A |
| 6/30/2023 | 2,555 | -47 | 256 | 357 | N/A |
| 3/31/2023 | 2,562 | -80 | 255 | 353 | N/A |
| 12/31/2022 | 2,496 | -83 | 97 | 184 | N/A |
| 9/30/2022 | 2,269 | -110 | 67 | 159 | N/A |
| 6/30/2022 | 2,320 | 15 | 89 | 177 | N/A |
| 3/31/2022 | 2,178 | 53 | 104 | 182 | N/A |
| 12/31/2021 | 1,892 | -5 | 100 | 183 | N/A |
| 9/30/2021 | 1,681 | 45 | 145 | 234 | N/A |
| 6/30/2021 | 1,632 | 55 | 179 | 256 | N/A |
| 3/31/2021 | 1,563 | 90 | 231 | 319 | N/A |
| 12/31/2020 | 1,420 | 40 | 192 | 283 | N/A |
| 9/30/2020 | 1,551 | 33 | 219 | 299 | N/A |
| 6/30/2020 | 1,664 | 12 | 200 | 309 | N/A |
| 3/31/2020 | 1,776 | -9 | 177 | 281 | N/A |
| 12/31/2019 | 2,197 | 110 | N/A | 326 | N/A |
| 9/30/2019 | 2,211 | 15 | N/A | 269 | N/A |
| 6/30/2019 | 2,261 | 30 | N/A | 230 | N/A |
| 3/31/2019 | 2,169 | 58 | N/A | 235 | N/A |
| 12/31/2018 | 2,006 | -25 | N/A | 193 | N/A |
| 9/30/2018 | 2,019 | 46 | N/A | 217 | N/A |
| 6/30/2018 | 1,972 | -19 | N/A | 222 | N/A |
| 3/31/2018 | 2,004 | -28 | N/A | 124 | N/A |
| 12/31/2017 | 1,897 | -22 | N/A | 146 | N/A |
| 9/30/2017 | 1,762 | -77 | N/A | 110 | N/A |
| 6/30/2017 | 1,668 | 63 | N/A | 131 | N/A |
| 3/31/2017 | 1,606 | 51 | N/A | 109 | N/A |
| 12/31/2016 | 1,507 | 85 | N/A | 109 | N/A |
| 9/30/2016 | 1,515 | 120 | N/A | 116 | N/A |
| 6/30/2016 | 1,564 | 43 | N/A | 164 | N/A |
| 3/31/2016 | 1,419 | 77 | N/A | 182 | N/A |
| 12/31/2015 | 1,624 | -6 | N/A | 188 | N/A |
| 9/30/2015 | 1,989 | 11 | N/A | 203 | N/A |
| 6/30/2015 | 2,431 | 16 | N/A | 199 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SPB's forecast earnings growth (21.5% per year) is above the savings rate (3%).
Earnings vs Market: SPB's earnings (21.5% per year) are forecast to grow faster than the Canadian market (10.7% per year).
High Growth Earnings: SPB's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SPB's revenue (2.9% per year) is forecast to grow slower than the Canadian market (4.5% per year).
High Growth Revenue: SPB's revenue (2.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SPB's Return on Equity is forecast to be low in 3 years time (10%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/21 21:55 |
| End of Day Share Price | 2026/05/21 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Superior Plus Corp. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Nathan Heywood | ATB Cormark |
| Brent Watson | ATB Cormark Historical (Cormark Securities) |
| John Gibson | BMO Capital Markets Equity Research |