Summit Midstream Financials
This page shows Summit Midstream (smc) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Summit Midstream generated $429.6M in revenue in fiscal year 2024.
Summit Midstream generated $8.2M in free cash flow in fiscal year 2024, representing cash available after capex.
Summit Midstream reported -$122.2M in net income in fiscal year 2024.
Summit Midstream held $22.8M in cash against $977.0M in long-term debt as of fiscal year 2024.
Summit Midstream's gross margin was 73.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs.
Summit Midstream's net profit margin was -28.4% in fiscal year 2024, showing the share of revenue converted to profit.
Summit Midstream invested $53.6M in capex in fiscal year 2024, funding long-term assets and infrastructure.
smc Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|
| Revenue | $146.9M+4.8% | $140.2M+5.7% | $132.7M | N/A | $121.2M |
| Cost of Revenue | $38.1M+6.2% | $35.9M+1.4% | $35.4M | N/A | $27.1M |
| Gross Profit | $108.7M+4.3% | $104.3M+7.2% | $97.3M | N/A | $94.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $13.2M-15.2% | $15.5M-6.5% | $16.6M | N/A | $11.1M |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $24.2M+1.4% | $23.9M+5.9% | $22.5M | N/A | $34.6M |
| Income Tax | $537K+171.4% | -$752K-354.1% | $296K | N/A | $72K |
| Net Income | -$1.6M+80.3% | -$8.0M-495.3% | $2.0M | N/A | $251K |
| EPS (Diluted) | $-0.13+80.3% | $-0.66-312.5% | $-0.16 | N/A | $-0.27 |
smc Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|
| Total Assets | $2.4B-0.4% | $2.4B-0.5% | $2.4B-2.4% | $2.5B | N/A |
| Current Assets | $112.2M-3.4% | $116.1M-3.1% | $119.8M+21.7% | $98.4M | N/A |
| Cash & Equivalents | $24.6M+17.9% | $20.9M-20.3% | $26.2M+86.8% | $14.0M | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $80.1M-5.3% | $84.6M+0.8% | $83.9M+10.0% | $76.3M | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.9B-0.5% | $1.9B-0.3% | $1.9B+13.6% | $1.7B | N/A |
| Current Liabilities | $147.4M-6.3% | $157.4M+4.5% | $150.6M+12.4% | $134.0M | N/A |
| Long-Term Debt | $1.1B+0.6% | $1.1B-0.8% | $1.1B-26.7% | $1.5B | N/A |
| Total Equity | $551.9M0.0% | $552.0M-1.1% | $558.1M-22.3% | $718.6M | N/A |
| Retained Earnings | -$194.8M-0.8% | -$193.2M-4.3% | -$185.2M | $0 | N/A |
smc Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | $16.0M | N/A | N/A |
| Capital Expenditures | N/A | N/A | $20.6M | N/A | N/A |
| Free Cash Flow | N/A | N/A | -$4.6M | N/A | N/A |
| Investing Cash Flow | N/A | N/A | -$93.1M | N/A | N/A |
| Financing Cash Flow | N/A | N/A | $81.5M | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A |
smc Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|
| Gross Margin | 74.0%-0.4pp | 74.4%+1.1pp | 73.3% | N/A | 77.6% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -1.1%+4.7pp | -5.7%-7.3pp | 1.5% | N/A | 0.2% |
| Return on Equity | N/A | N/A | 0.4% | N/A | N/A |
| Return on Assets | -0.1%+0.3pp | -0.3%-0.4pp | 0.1% | N/A | N/A |
| Current Ratio | 0.76+0.0 | 0.74-0.1 | 0.80+0.1 | 0.73 | N/A |
| Debt-to-Equity | 1.93+0.0 | 1.920.0 | 1.91-0.1 | 2.03 | N/A |
| FCF Margin | N/A | N/A | -3.5% | N/A | N/A |
Note: The current ratio is below 1.0 (0.68), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Financial Health Signals
Operating cash flow vs net income. Above 1.0x = cash-backed earnings.
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Frequently Asked Questions
What is Summit Midstream's annual revenue?
Summit Midstream (smc) reported $429.6M in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Summit Midstream profitable?
No, Summit Midstream (smc) reported a net income of -$122.2M in fiscal year 2024, with a net profit margin of -28.4%.
What is Summit Midstream's earnings per share (EPS)?
Summit Midstream (smc) reported diluted earnings per share of $-12.78 for fiscal year 2024. 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.
How much debt does Summit Midstream have?
As of fiscal year 2024, Summit Midstream (smc) had $22.8M in cash and equivalents against $977.0M in long-term debt.
What is Summit Midstream's gross margin?
Summit Midstream (smc) had a gross margin of 73.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Summit Midstream's net profit margin?
Summit Midstream (smc) had a net profit margin of -28.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Summit Midstream's free cash flow?
Summit Midstream (smc) generated $8.2M in free cash flow during fiscal year 2024. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Summit Midstream's operating cash flow?
Summit Midstream (smc) generated $61.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Summit Midstream's total assets?
Summit Midstream (smc) had $2.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Summit Midstream's capital expenditures?
Summit Midstream (smc) invested $53.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Summit Midstream's current ratio?
Summit Midstream (smc) had a current ratio of 0.68 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Summit Midstream's debt-to-equity ratio?
Summit Midstream (smc) had a debt-to-equity ratio of 2.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Summit Midstream's return on assets (ROA)?
Summit Midstream (smc) had a return on assets of -5.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Are Summit Midstream's earnings high quality?
Summit Midstream (smc) has an earnings quality ratio of -0.51x, considered mixed 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.