---
title: "Sempra: Business Model & Revenue Engine"
description: "Sempra revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/sempra/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Sempra: Business Model & Revenue Engine

## Direct Answer

Sempra reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Sempra California is the largest, with $11.8 billion of revenue (86% of the total), followed by Sempra Infrastructure at $2.0 billion (14%).

## How Does Sempra Make Money?

Sempra California supplies 86% of revenue, so Sempra's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Sempra Infrastructure grew fastest (+4.4%) and Sempra California slowest (+3.8%), so the revenue mix tilts toward Sempra Infrastructure while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Sempra California | $11.8 billion | $11.4 billion | 86.3% | 3.8% |
| Sempra Infrastructure | $2.0 billion | $1.9 billion | 14.3% | 4.4% |

![Bar chart of Sempra revenue by segment for fiscal 2025: Sempra California 86.3%, Sempra Infrastructure 14.3%.](https://www.getswoopr.com/images/charts/sempra-business-model-segment-mix.webp)
*Sempra revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What the Segment Figures Do Not Show

The rows above add up to 101% of Sempra's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Sempra reported in the segment note and revenue disclosures of its Form 10-K filed February 26, 2026 (accession 0001032208-26-000010), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Sempra's business segments?

In its fiscal 2025 Form 10-K, Sempra reports revenue for Sempra California and Sempra Infrastructure.

### Which part of Sempra brings in the most revenue?

Sempra California, with $11.8 billion of revenue in fiscal 2025, or 86% of the total.

### Where does Sempra report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 26, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: SEMPRA Form 10-K filed February 26, 2026](https://www.sec.gov/Archives/edgar/data/1032208/000103220826000010/sre-20251231.htm)
- [SEC EDGAR: SEMPRA annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1032208&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Sempra company dossier](https://www.getswoopr.com/stocks/companies/sempra/)
- [Sempra financial metrics](https://www.getswoopr.com/stocks/companies/sempra/metrics/)
- [Sempra financial risk indicators](https://www.getswoopr.com/stocks/companies/sempra/risks/)
- [Sempra peer comparison](https://www.getswoopr.com/stocks/companies/sempra/competitors/)
- [Sempra business model and revenue mix](https://www.getswoopr.com/stocks/companies/sempra/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).