SM Energy Company (SM) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SM SEC filings page.
SM Energy Company (SM) reported $5.5B in revenue over the twelve months to Jun 30, 2026, up 75.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
The business converts a growing asset base into cash, but margin compression and episodic heavy investment make returns increasingly balance-sheet dependent.
Operating margin compressed from40.0% to31.7% between FY2024 and FY2025, even as revenue increased, indicating growth came with less operating profit per dollar. Operating cash flow was 3.1x net income in FY2025 versus 2.3x in FY2024, showing cash generation increasingly exceeded reported earnings.
Asset growth was equity-supported: total assets expanded
Capital deployment was uneven: investing cash outflow fell from
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of SM Energy Company's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
SM Energy Company has an operating margin of 31.7%, meaning the company retains $32 of operating profit per $100 of revenue. This strong profitability earns a score of 83/100, reflecting efficient cost management and pricing power. This is down from 40.0% the prior year.
SM Energy Company's revenue surged 17.2% year-over-year to $3.2B, reflecting rapid business expansion. This strong growth earns a score of 78/100.
SM Energy Company has a moderate D/E ratio of 0.92. This balance of debt and equity financing earns a leverage score of 49/100.
SM Energy Company's current ratio of 0.69 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Not available for SM Energy Company, and counted as zero in the overall score.
SM Energy Company earns a strong 13.5% return on equity (ROE), meaning it generates $13 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is down from 18.2% the prior year.
SM Energy Company scores 2.39, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($9.2B) relative to total liabilities ($4.4B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
SM Energy Company passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, SM Energy Company generates $3.10 in operating cash flow ($2.0B OCF vs $648.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
SM Energy Company earns $5.78 in operating income for every $1 of interest expense ($1.0B vs $173.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
SM Energy Company generated $2.5B in revenue in Q2 2026. This represents an increase of 215.3% from the same quarter a year earlier. Against the prior quarter it is up 69.0%.
SM Energy Company reported $1.1B in net income in Q2 2026. This represents an increase of 430.2% from the same quarter a year earlier. Against the prior quarter it is up 419.7%.
SM Energy Company earned $4.46 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 365.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
SM Energy Company held $620.0M in cash as of Q2 2026; long-term debt is not reported for that period.
SM Energy Company paid $0.22 per share in dividends in Q2 2026. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
SM Energy Company's operating margin was 59.8% in Q2 2026, reflecting core business profitability. This is up 22.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 80.0 percentage points.
SM Energy Company's net profit margin was 42.8% in Q2 2026, showing the share of revenue converted to profit. This is up 17.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 65.5 percentage points.
SM Energy Company's ROE was 13.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 9.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 18.6 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
SM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B+215.3% | $1.5B+75.0% | $704.4M-17.3% | $811.6M+26.1% | $793.0M+25.0% | $845.0M+50.9% | $852.0M+39.9% | $643.6M+0.4% |
| Cost of Revenue | $556.0M+148.2% | $428.0M+90.2% | $207.0M-3.6% | $229.0M+54.4% | $224.0M+64.0% | $225.0M+63.8% | $214.6M+55.7% | $148.4M+7.3% |
| SG&A Expenses | $79.0M+88.1% | $174.0M+346.2% | $40.7M-2.1% | $39.3M+11.9% | $42.0M+35.0% | $39.0M+29.2% | $41.6M+13.7% | $35.1M+20.1% |
| Operating Income | $1.5B+407.1% | -$298.0M-208.0% | $182.5M-36.5% | $246.5M-25.5% | $295.0M+5.6% | $276.0M+54.7% | $287.3M-7.3% | $331.0M+69.2% |
| Interest Expense | $111.0M+158.1% | $113.0M+156.8% | $43.1M-7.7% | $42.9M-15.3% | $43.0M+97.2% | $44.0M+101.2% | $46.6M+92.0% | $50.7M+119.3% |
| Income Tax | $318.0M+523.5% | -$75.0M-250.0% | $31.8M-40.3% | $49.2M-13.9% | $51.0M-4.8% | $50.0M+55.9% | $53.2M+19.9% | $57.1M+224.2% |
| Net Income | $1.1B+430.2% | -$335.0M-284.1% | $108.9M-42.1% | $155.1M-35.5% | $202.0M-3.9% | $182.0M+38.7% | $188.0M-24.0% | $240.5M+8.2% |
| EPS (Basic) | $4.48+154.5% | -$1.68-205.7% | $0.95-42.1% | $1.35-35.7% | $1.76-3.8% | $1.59+40.7% | $1.64-22.6% | $2.10+11.1% |
| EPS (Diluted) | $4.46 | -$1.68 | $0.95 | $1.35-35.4% | $1.76-3.3% | $1.59+40.7% | $1.64-22.3% | $2.09+11.2% |
| Diluted Shares (Avg) | 240M | 199M | N/A | 115M+0.2% | 115M-0.6% | 115M-1.3% | N/A | 115M-2.8% |
Not reported in any period shown, so not listed: Gross Profit, R&D Expenses, EBITDA.
SM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.9B+109.7% | $19.1B+117.9% | $9.3B+7.9% | $9.1B+13.2% | $9.0B+35.1% | $8.8B+37.3% | $8.6B+34.4% | $8.0B+32.1% |
| Current Assets | $1.9B+230.4% | $1.7B+254.2% | $811.0M+86.4% | $633.0M-69.0% | $575.1M-25.7% | $471.8M-40.5% | $435.0M-52.5% | $2.0B+191.0% |
| Cash & Equivalents | $620.0M+508.6% | $449.0M+831381.5% | $368.0M | $162.3M-90.7% | $101.9M-79.1% | $54K-100.0% | $0-100.0% | $1.7B+331.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $989.0M+171.5% | $915.0M+138.9% | $331.0M-8.3% | $367.7M+62.3% | $364.3M+52.4% | $383.0M+58.4% | $361.0M+56.2% | $226.6M-14.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $11.0B+150.8% | $12.3B+180.0% | $4.4B+2.4% | $4.4B+10.3% | $4.4B+56.5% | $4.4B+62.3% | $4.3B+57.0% | $4.0B+48.3% |
| Current Liabilities | $3.1B+268.6% | $4.3B+420.2% | $1.2B+48.0% | $1.1B+95.4% | $837.9M+39.2% | $822.7M+53.5% | $790.0M+24.6% | $581.1M-3.0% |
| Non-Current Liabilities | $8.0B+123.2% | $8.0B+124.5% | $3.3B-7.7% | $3.2B-4.3% | $3.6B+61.2% | $3.6B+64.6% | $3.5B+66.6% | $3.4B+63.1% |
| Total Equity | $7.8B+70.2% | $6.9B+55.9% | $4.8B+13.5% | $4.7B+16.0% | $4.6B+19.4% | $4.4B+19.1% | $4.2B+17.2% | $4.1B+19.3% |
| Retained Earnings | $3.9B+27.6% | $2.9B+0.3% | $3.3B+20.3% | $3.2B+24.7% | $3.1B+30.6% | $2.9B+33.9% | $2.7B+33.3% | $2.6B+40.8% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
SM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B+93.2% | $640.0M+32.5% | $451.9M-21.9% | $505.1M+11.7% | $571.0M+19.9% | $483.0M+75.0% | $578.4M+21.5% | $452.3M+18.1% |
| Stock-Based Compensation | N/A | $25.0M+257.1% | N/A | N/A | N/A | $7.0M+39.5% | N/A | N/A |
| Investing Cash Flow | $143.0M+134.9% | -$628.0M-46.4% | -$224.2M+90.8% | -$404.8M-33.6% | -$410.0M-27.1% | -$429.0M-29.1% | -$2.4B-995.4% | -$302.9M-27.7% |
| Financing Cash Flow | -$1.1B-1722.0% | $69.0M+227.8% | -$21.9M-165.3% | -$40.1M-103.6% | -$59.0M+15.8% | -$54.0M-0.7% | $33.6M+185.0% | $1.1B+999.7% |
| Dividends Paid | $53.0M+130.4% | $82.0M+256.5% | $23.2M+1.6% | $22.8M+10.6% | $23.0M+11.1% | $23.0M+10.4% | $22.9M+28.2% | $20.6M+15.7% |
| Share Buybacks | N/A | N/A | $224K-88.9% | $11.8M | $1.0M-98.0% | $0-100.0% | $2.0M-91.2% | $0-100.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow.
SM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 59.8%+22.6pp | -20.2%-52.8pp | 25.9%-7.8pp | 30.4%-21.0pp | 37.2%-6.8pp | 32.7%+0.8pp | 33.7%-17.2pp | 51.4%+20.9pp |
| Net Margin | 42.8%+17.4pp | -22.7%-44.2pp | 15.5%-6.6pp | 19.1%-18.3pp | 25.5%-7.7pp | 21.5%-1.9pp | 22.1%-18.6pp | 37.4%+2.7pp |
| Return on Equity | 13.7%+9.3pp | -4.9%-9.0pp | 2.3%-2.2pp | 3.3%-2.6pp | 4.4%-1.1pp | 4.1%+0.6pp | 4.4%-2.4pp | 5.9%-0.6pp |
| Return on Assets | 5.7%+3.4pp | -1.8%-3.8pp | 1.2%-1.0pp | 1.7%-1.3pp | 2.3%-0.9pp | 2.1%0.0pp | 2.2%-1.7pp | 3.0%-0.7pp |
| Current Ratio | 0.62-0.1x | 0.39-0.2x | 0.69+0.1x | 0.56-3.0x | 0.69-0.6x | 0.57-0.9x | 0.55-0.9x | 3.52+2.3x |
| Debt-to-Equity | 1.41+0.5x | 1.79+0.8x | 0.92-0.1x | 0.930.0x | 0.96+0.2x | 1.00+0.3x | 1.02+0.3x | 0.98+0.2x |
| Asset Turnover | 0.130.0x | 0.080.0x | 0.080.0x | 0.090.0x | 0.090.0x | 0.100.0x | 0.100.0x | 0.080.0x |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.69), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| SM Energy Company SM | FY2025 | $3.2B | $648.0M | 20.5% | $9.2B | 50/100 |
| Gulfport Energy Corporation GPOR | FY2025 | $1.4B | $428.0M | 30.1% | $2.9B | 36/100 |
| Black Stone Minerals, L.P. BSM | FY2025 | $469.9M | $299.9M | 63.8% | $3.2B | 61/100 |
| Northern Oil and Gas, Inc. NOG | FY2025 | $2.5B | $38.8M | 1.6% | $2.6B | 48/100 |
| Civitas Resources, Inc. CIVI | FY2024 | $5.2B | $838.7M | 16.1% | $2.3B | 24/100 |
| Murphy Oil Corp. MUR | FY2025 | $2.7B | $104.2M | 3.8% | $5.6B | 32/100 |
Where SM Energy Company Ranks
Frequently Asked Questions
What is SM Energy Company's annual revenue?
SM Energy Company (SM) reported $3.2B in total revenue for fiscal year 2025. This represents a 17.2% 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 Company's revenue growing?
SM Energy Company (SM) revenue grew by 17.2% year-over-year, from $2.7B to $3.2B in fiscal year 2025.
Is SM Energy Company profitable?
Yes, SM Energy Company (SM) reported a net income of $648.0M in fiscal year 2025, with a net profit margin of 20.5%.
What is SM Energy Company's operating margin?
SM Energy Company (SM) had an operating margin of 31.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is SM Energy Company's net profit margin?
SM Energy Company (SM) had a net profit margin of 20.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does SM Energy Company pay dividends?
Yes, SM Energy Company (SM) paid $0.80 per share in dividends during fiscal year 2025.
What is SM Energy Company's return on equity (ROE)?
SM Energy Company (SM) has a return on equity of 13.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is SM Energy Company's operating cash flow?
SM Energy Company (SM) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are SM Energy Company's total assets?
SM Energy Company (SM) had $9.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What is SM Energy Company's current ratio?
SM Energy Company (SM) had a current ratio of 0.69 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is SM Energy Company's debt-to-equity ratio?
SM Energy Company (SM) had a debt-to-equity ratio of 0.92 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is SM Energy Company's return on assets (ROA)?
SM Energy Company (SM) had a return on assets of 7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is SM Energy Company's P/E ratio?
SM Energy Company (SM) trades at 9.2x earnings, its market capitalization divided by net income of $1.0B net income, trailing 12 months to June 30, 2026. The market capitalization is $9.2B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is SM Energy Company's price-to-sales ratio?
SM Energy Company (SM) trades at 1.7x sales, its market capitalization divided by revenue of $5.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $9.2B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is SM Energy Company's Altman Z-Score?
SM Energy Company (SM) has an Altman Z-Score of 2.39, 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 Company's Piotroski F-Score?
SM Energy Company (SM) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are SM Energy Company's earnings high quality?
SM Energy Company (SM) has an earnings quality ratio of 3.10x, 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 Company cover its interest payments?
SM Energy Company (SM) has an interest coverage ratio of 5.78x, 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 Company?
SM Energy Company (SM) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.