SM

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SM Energy Company

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Key Metrics

Previous Close: $36.14
52-Week Range: $17.45 – $38.25
Market Cap: $8.95B
P/E (TTM): 6.67
EPS (TTM): 5.64
Dividend Yield: 2.43%

Advanced Metrics

Price/Book: 1.14
PEG Ratio: 0.65
Return on Equity: 16.13%
Return on Assets: 6.90%
Gross Margin: 86.46%
Operating Margin: 60.32%
Profit Margin: 20.15%
Current Ratio: 0.61
Debt/Equity: 0.95
Total Debt: $7.43B
Free Cash Flow: $1.47B
Revenue Growth: 176.10%
Earnings Growth: 153.90%
Enterprise Value: $15.41B

SM Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$3.35B	$2.36B	$2.67B	$3.14B
Cost of Revenue	$1.22B	$1.25B	$1.45B	$2.09B
Gross Profit	$2.12B	$1.11B	$1.23B	$1.05B
Selling, General & Admin	$114.56M	$121.00M	$138.00M	$161.00M
Operating Expenses	$167.72M	$191.00M	$199.00M	$224.00M
Operating Income	$1.95B	$919.00M	$1.03B	$822.00M
EBITDA	$2.12B	$1.70B	$1.92B	$2.21B
Pretax Income	$1.40B	$914.00M	$966.00M	$830.00M
Income Tax	$283.82M	$96.00M	$196.00M	$182.00M
Net Income	$1.11B	$818.00M	$770.00M	$648.00M
Diluted EPS	8.96	6.86	6.67	5.64
Diluted Shares	124.08M	119.24M	115.53M	115.00M

SM Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$445.00M	$616.16M	$0.00	$368.00M
Receivables	$233.30M	$231.16M	$360.00M	$331.00M
Current Assets	$737.20M	$916.44M	$435.00M	$811.00M
Total Assets	$5.72B	$6.38B	$8.58B	$9.25B
Current Liabilities	$598.58M	$633.81M	$790.00M	$1.17B
Long-Term Debt	$1.57B	$1.58B	$2.78B	$2.30B
Total Debt	$1.57B	$1.58B	$2.78B	$2.71B
Total Liabilities	$2.63B	$2.76B	$4.34B	$4.44B
Retained Earnings	$1.31B	$2.05B	$2.73B	$3.29B
Shareholders' Equity	$3.09B	$3.62B	$4.24B	$4.81B
Working Capital	$138.62M	$282.63M	-$355.00M	-$358.00M
Net Debt	$1.13B	$959.17M	$2.78B	$2.35B

SM Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.69B	$1.57B	$1.78B	$2.01B
Capital Expenditure	-$879.94M	-$1.10B	-$3.42B	-$1.47B
Free Cash Flow	$806.47M	$475.00M	-$1.63B	$539.00M
Stock-Based Compensation	$18.77M	$20.00M	$25.00M	$29.00M
Investing Cash Flow	-$880.26M	-$1.10B	-$3.41B	-$1.47B
Financing Cash Flow	-$693.86M	-$305.00M	$1.01B	-$175.00M
Dividends Paid	-$19.64M	-$72.00M	-$85.00M	-$92.00M
Share Repurchases	-$57.21M	-$228.00M	-$86.00M	-$13.00M
Net Change in Cash	$112.28M	$171.00M	-$616.00M	$368.00M

SM Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$840.00M	$785.08M	$811.01M	$702.29M	$1.48B
Cost of Revenue	$495.00M	$517.00M	$554.41M	$525.62M	$860.00M
Gross Profit	$345.00M	$268.08M	$256.60M	$176.67M	$617.00M
Selling, General & Admin	$39.00M	$42.10M	$39.32M	$40.25M	$174.00M
Operating Expenses	$51.00M	$51.48M	$55.60M	$65.78M	$218.00M
Operating Income	$294.00M	$216.60M	$201.00M	$110.89M	$399.00M
EBITDA	$546.00M	$587.95M	$572.60M	$503.07M	$135.00M
Pretax Income	$232.00M	$252.50M	$204.29M	$141.20M	-$410.00M
Income Tax	$50.00M	$50.84M	$49.20M	$32.23M	-$75.00M
Net Income	$182.00M	$201.66M	$155.09M	$108.98M	-$335.00M
Diluted EPS	1.59	1.76	1.35	0.95	-1.68
Diluted Shares	114.95M	114.79M	115.23M	115.00M	199.00M

SM Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$54.00K	$101.88M	$162.25M	$368.00M	$449.00M
Receivables	$382.95M	$364.30M	$367.69M	$331.00M	$915.00M
Current Assets	$471.82M	$575.09M	$632.96M	$811.00M	$1.67B
Total Assets	$8.79B	$8.99B	$9.09B	$9.25B	$19.14B
Current Liabilities	$822.72M	$837.95M	$1.14B	$1.17B	$4.28B
Long-Term Debt	$2.75B	$2.71B	$2.29B	$2.30B	$6.74B
Total Debt	$2.75B	$2.71B	$2.71B	$2.71B	$7.98B
Total Liabilities	$4.38B	$4.40B	$4.38B	$4.44B	$12.28B
Retained Earnings	$2.89B	$3.07B	$3.21B	$3.29B	$2.90B
Shareholders' Equity	$4.40B	$4.59B	$4.71B	$4.81B	$6.87B
Working Capital	-$350.90M	-$262.86M	-$502.37M	-$358.00M	-$2.61B
Net Debt	$2.75B	$2.61B	$2.55B	$2.35B	$7.53B

SM Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$483.00M	$571.13M	$504.96M	$451.91M	$640.00M
Capital Expenditure	-$414.00M	-$424.96M	-$404.28M	-$228.76M	-$555.00M
Free Cash Flow	$69.00M	$146.17M	$100.68M	$223.15M	$85.00M
Stock-Based Compensation	$7.00M	$5.84M	$8.12M	$8.04M	$25.00M
Investing Cash Flow	-$429.00M	-$409.96M	-$404.81M	-$224.23M	-$628.00M
Financing Cash Flow	-$54.00M	-$59.29M	-$39.77M	-$21.94M	$69.00M
Dividends Paid	-$23.00M	-$22.79M	-$22.99M	-$23.22M	-$82.00M
Share Repurchases	$0.00	-$648.00K	-$12.13M	-$224.00K	—
Net Change in Cash	$54.00K	$101.82M	$60.37M	$205.75M	$81.00M

Market Snapshot

About

SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of oil and natural gas. The company operates primarily in the Midland Basin and South Texas regions. SM Energy focuses on unconventional resource development with an emphasis on horizontal drilling and hydraulic fracturing technologies.