Sm Energy Financials
This page shows Sm Energy (SM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Sm Energy has an operating margin of 40.0%, meaning the company retains $40 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 41.6% the prior year.
Sm Energy's revenue grew 13.3% year-over-year to $2.7B, a solid pace of expansion. This earns a growth score of 67/100.
Sm Energy carries a low D/E ratio of 1.02, meaning only $1.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
Sm Energy's current ratio of 0.55 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 2/100, which could limit financial flexibility.
Sm Energy earns a strong 18.2% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 73/100. This is down from 22.6% the prior year.
Sm Energy scores 1.83, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Sm Energy passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Sm Energy generates $2.31 in operating cash flow ($1.8B OCF vs $770.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Sm Energy earns $7.6 in operating income for every $1 of interest expense ($1.1B vs $140.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Sm Energy generated $2.7B in revenue in fiscal year 2024. This represents an increase of 13.3% from the prior year.
Sm Energy reported $770.3M in net income in fiscal year 2024. This represents a decrease of 5.8% from the prior year.
Sm Energy earned $6.67 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 2.8% from the prior year.
Sm Energy held $0 in cash against $0 in long-term debt as of fiscal year 2024.
Sm Energy paid $0.76 per share in dividends in fiscal year 2024. This represents an increase of 20.6% from the prior year.
Sm Energy had 114M shares outstanding in fiscal year 2024. This represents a decrease of 1.1% from the prior year.
Sm Energy's operating margin was 40.0% in fiscal year 2024, reflecting core business profitability. This is down 1.6 percentage points from the prior year.
Sm Energy's net profit margin was 28.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 5.8 percentage points from the prior year.
Sm Energy's ROE was 18.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 4.4 percentage points from the prior year.
Sm Energy spent $86.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.3% from the prior year.
SM Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $811.6M+2.4% | $792.9M-6.1% | $844.5M-0.9% | $852.2M+34.3% | $634.6M+13.3% | $559.9M-8.0% | $608.7M-5.0% | $640.9M |
| Cost of Revenue | $229.0M+2.2% | $224.0M-0.5% | $225.1M+4.9% | $214.6M+57.1% | $136.6M-0.5% | $137.4M0.0% | $137.3M-0.7% | $138.3M |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $39.3M-6.6% | $42.1M+7.0% | $39.3M-6.1% | $41.9M+34.7% | $31.1M+3.1% | $30.2M-17.6% | $36.6M+25.2% | $29.3M |
| Operating Income | $246.5M-16.4% | $294.9M+6.7% | $276.3M-3.7% | $287.0M+2.7% | $279.4M+56.6% | $178.4M-42.4% | $309.9M+58.4% | $195.6M |
| Interest Expense | $42.9M+0.9% | $42.6M-4.1% | $44.4M-4.2% | $46.3M+112.3% | $21.8M-0.3% | $21.9M-8.5% | $23.9M+3.5% | $23.1M |
| Income Tax | $49.2M-3.2% | $50.8M+2.2% | $49.7M-6.4% | $53.1M-0.8% | $53.6M+67.1% | $32.1M-28.3% | $44.7M+197.2% | -$46.0M |
| Net Income | $155.1M-23.1% | $201.7M+10.6% | $182.3M-3.2% | $188.3M-10.5% | $210.3M+60.3% | $131.2M-46.9% | $247.1M+11.1% | $222.3M |
| EPS (Diluted) | $1.35-23.3% | $1.76+10.7% | $1.59-2.5% | $1.63-10.4% | $1.82+61.1% | $1.13-46.4% | $2.11+12.2% | $1.88 |
SM Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.1B+1.1% | $9.0B+2.3% | $8.8B+2.5% | $8.6B+28.8% | $6.7B+4.0% | $6.4B+0.3% | $6.4B+5.0% | $6.1B |
| Current Assets | $633.0M+10.1% | $575.1M+21.9% | $471.8M+8.5% | $434.7M-43.9% | $774.2M-2.4% | $793.0M-13.5% | $916.4M+30.4% | $702.6M |
| Cash & Equivalents | $162.3M+59.3% | $101.9M+188561.1% | $54K | $0-100.0% | $487.9M-3.6% | $506.3M-17.8% | $616.2M+53.3% | $402.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $367.7M+0.9% | $364.3M-4.9% | $383.0M+6.1% | $361.0M+51.0% | $239.1M-1.1% | $241.7M+4.6% | $231.2M-12.6% | $264.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.4B-0.6% | $4.4B+0.4% | $4.4B+1.0% | $4.3B+54.3% | $2.8B+4.2% | $2.7B-2.3% | $2.8B+3.4% | $2.7B |
| Current Liabilities | $1.1B+35.5% | $837.9M+1.9% | $822.7M+4.1% | $790.0M+31.3% | $601.8M+12.3% | $536.1M-15.4% | $633.8M+5.8% | $599.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $4.7B+2.7% | $4.6B+4.2% | $4.4B+3.9% | $4.2B+10.2% | $3.8B+3.9% | $3.7B+2.3% | $3.6B+6.2% | $3.4B |
| Retained Earnings | $3.2B+4.3% | $3.1B+6.2% | $2.9B+5.8% | $2.7B+16.3% | $2.4B+8.8% | $2.2B+5.4% | $2.1B+12.4% | $1.8B |
SM Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $505.0M-11.6% | $571.1M+18.3% | $483.0M-16.4% | $577.9M+21.3% | $476.4M+72.6% | $276.0M-42.1% | $476.5M+24.4% | $383.0M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$404.8M+1.3% | -$410.2M+4.3% | -$428.8M+82.5% | -$2.4B-659.0% | -$322.7M+2.9% | -$332.3M-48.8% | -$223.3M+5.9% | -$237.2M |
| Financing Cash Flow | -$39.8M+32.7% | -$59.1M-9.1% | -$54.2M-259.0% | $34.1M+148.6% | -$70.1M-30.7% | -$53.6M-37.3% | -$39.1M+68.0% | -$122.1M |
| Dividends Paid | $23.0M+0.4% | $22.9M0.0% | $22.9M0.0% | $22.9M+10.5% | $20.7M-0.6% | $20.8M+19.4% | $17.4M-2.0% | $17.8M |
| Share Buybacks | $12.1M+1771.6% | $648K | $0-100.0% | $2.1M-96.0% | $51.2M+56.3% | $32.8M+43.3% | $22.9M-76.3% | $96.4M |
SM Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 30.4%-6.8pp | 37.2%+4.5pp | 32.7%-1.0pp | 33.7%-10.4pp | 44.0%+12.2pp | 31.9%-19.1pp | 50.9%+20.4pp | 30.5% |
| Net Margin | 19.1%-6.3pp | 25.4%+3.9pp | 21.6%-0.5pp | 22.1%-11.0pp | 33.1%+9.7pp | 23.4%-17.2pp | 40.6%+5.9pp | 34.7% |
| Return on Equity | 3.3%-1.1pp | 4.4%+0.3pp | 4.1%-0.3pp | 4.4%-1.0pp | 5.5%+1.9pp | 3.5%-3.3pp | 6.8%+0.3pp | 6.5% |
| Return on Assets | 1.7%-0.5pp | 2.2%+0.2pp | 2.1%-0.1pp | 2.2%-1.0pp | 3.2%+1.1pp | 2.1%-1.8pp | 3.9%+0.2pp | 3.7% |
| Current Ratio | 0.56-0.1 | 0.69+0.1 | 0.57+0.0 | 0.55-0.7 | 1.29-0.2 | 1.48+0.0 | 1.45+0.3 | 1.17 |
| Debt-to-Equity | 0.93-0.0 | 0.96-0.0 | 1.00-0.0 | 1.02+0.3 | 0.730.0 | 0.73-0.0 | 0.76-0.0 | 0.79 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Sm Energy's annual revenue?
Sm Energy (SM) reported $2.7B in total revenue for fiscal year 2024. This represents a 13.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sm Energy's revenue growing?
Sm Energy (SM) revenue grew by 13.3% year-over-year, from $2.4B to $2.7B in fiscal year 2024.
Is Sm Energy profitable?
Yes, Sm Energy (SM) reported a net income of $770.3M in fiscal year 2024, with a net profit margin of 28.6%.
What is Sm Energy's earnings per share (EPS)?
Sm Energy (SM) reported diluted earnings per share of $6.67 for fiscal year 2024. This represents a -2.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Sm Energy's operating margin?
Sm Energy (SM) had an operating margin of 40.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Sm Energy's net profit margin?
Sm Energy (SM) had a net profit margin of 28.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Sm Energy pay dividends?
Yes, Sm Energy (SM) paid $0.76 per share in dividends during fiscal year 2024.
What is Sm Energy's return on equity (ROE)?
Sm Energy (SM) has a return on equity of 18.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Sm Energy's operating cash flow?
Sm Energy (SM) generated $1.8B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Sm Energy's total assets?
Sm Energy (SM) had $8.6B in total assets as of fiscal year 2024, including both current and long-term assets.
Does Sm Energy buy back shares?
Yes, Sm Energy (SM) spent $86.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Sm Energy have outstanding?
Sm Energy (SM) had 114M shares outstanding as of fiscal year 2024.
What is Sm Energy's current ratio?
Sm Energy (SM) had a current ratio of 0.55 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Sm Energy's debt-to-equity ratio?
Sm Energy (SM) had a debt-to-equity ratio of 1.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sm Energy's return on assets (ROA)?
Sm Energy (SM) had a return on assets of 9.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Sm Energy's Altman Z-Score?
Sm Energy (SM) has an Altman Z-Score of 1.83, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sm Energy's Piotroski F-Score?
Sm Energy (SM) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sm Energy's earnings high quality?
Sm Energy (SM) has an earnings quality ratio of 2.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sm Energy cover its interest payments?
Sm Energy (SM) has an interest coverage ratio of 7.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sm Energy?
Sm Energy (SM) scores 63 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.