Summit Midstream Corporation (SMC) 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 28, 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 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SMC SEC filings page.
Summit Midstream Corporation (SMC) reported $583.3M in revenue over the twelve months to Jun 30, 2026, up 20.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
FY2025 shows a revenue recovery with stable margins, better cash generation, and a still highly leveraged balance sheet.
The near-breakeven FY2025 net loss of$5.9M contrasts with operating cash flow of$133.6M and depreciation of$114.2M , showing that noncash charges materially shape reported earnings. After$89.0M of capital expenditures, only$44.6M remained as free cash flow, so reinvestment consumes much of the cash produced by operations.
Revenue increased
Debt-to-equity eased from 2.1x in FY2024 to 1.9x in FY2025, but liabilities still represented
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. 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 Summit Midstream Corporation'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.
Summit Midstream Corporation's revenue surged 30.8% year-over-year to $562.1M, reflecting rapid business expansion. This strong growth earns a score of 69/100.
Summit Midstream Corporation has a moderate D/E ratio of 1.88. This balance of debt and equity financing earns a leverage score of 33/100.
Summit Midstream Corporation's current ratio of 0.55 is below the typical benchmark, resulting in a score of 7/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Summit Midstream Corporation has a free cash flow margin of 7.9%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.
Summit Midstream Corporation posts a -1.1% return on equity (ROE), meaning it loses $1 for every $100 of shareholders' equity. This results in a returns score of 46/100. This is up from -26.1% the prior year.
Summit Midstream Corporation passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Summit Midstream Corporation reported a net loss of $5.9M while generating $133.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Summit Midstream Corporation generated $155.0M in revenue in Q2 2026. This represents an increase of 10.6% from the same quarter a year earlier. Against the prior quarter it is up 11.4%.
Summit Midstream Corporation reported $1.6M in net income in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Summit Midstream Corporation earned $0.11 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Summit Midstream Corporation generated $18.9M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 75.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Summit Midstream Corporation held $21.0M in cash against $1.2B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Summit Midstream Corporation's gross margin was 68.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.4 percentage points.
Summit Midstream Corporation's net profit margin was 1.0% in Q2 2026, showing the share of revenue converted to profit. This is up 6.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.9 percentage points.
Summit Midstream Corporation's quarterly ROE was 0.3% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.2 percentage points.
Not reported for Q2 2026.
Capital Allocation
Summit Midstream Corporation invested $25.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 5.3% from the same quarter a year earlier. Against the prior quarter it is up 29.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SMC 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $155.0M+10.6% | $139.1M+4.9% | $142.3M+33.0% | $146.9M+43.4% | $140.2M+38.4% | $132.7M+11.6% | $107.0M | $102.4M-15.5% |
| Cost of Revenue | $49.1M+36.7% | $39.4M+11.1% | $39.7M+47.1% | $38.1M+35.0% | $35.9M+21.3% | $35.4M+17.4% | $26.9M | $28.2M+4.2% |
| Gross Profit | $105.9M+1.6% | $99.8M+2.6% | $102.6M+28.2% | $108.7M+46.6% | $104.3M+45.5% | $97.3M+9.7% | $80.1M | $74.2M-21.2% |
| SG&A Expenses | $13.7M-11.8% | $17.9M+7.7% | $15.7M+10.9% | $13.2M+6.0% | $15.5M+9.5% | $16.6M+12.3% | $14.2M | $12.4M+11.9% |
| Interest Expense | $27.4M+14.8% | $25.0M+11.0% | $24.1M+18.2% | $24.2M-5.9% | $23.9M-24.1% | $22.5M-40.5% | $20.4M | $25.7M-25.6% |
| Income Tax | $1.1Mn/m | -$1.0M-438.5% | -$582K-112.8% | $537K-99.6% | -$752Kn/m | $296K+41.0% | $4.5M | $142.6M+197918.1% |
| Net Income | $1.6Mn/m | -$5.3Mn/m | $5.6Mn/m | -$1.6Mn/m | -$8.0Mn/m | -$1.9M-101.5% | -$15.4M | -$204.9M-81749.8% |
| EPS (Basic) | $0.12n/m | -$0.43n/m | -$0.66n/m | -$0.13n/m | -$0.66n/m | -$0.16-101.3% | -$2.39n/m | -$19.25n/m |
| EPS (Diluted) | $0.11n/m | -$0.43n/m | -$0.66n/m | -$0.13n/m | -$0.66n/m | -$0.16-101.4% | -$2.39n/m | -$19.25n/m |
| Diluted Shares (Avg) | 14M+14.7% | 12M+4.8% | N/A | 12M+15.1% | 12M+14.9% | 12M+7.2% | N/A | 11M+2.6% |
Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.
SMC 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B-0.6% | $2.4B-1.1% | $2.4B+1.2% | $2.4B+20.7% | $2.4B | $2.4B | $2.4B-5.4% | $2.0B |
| Current Assets | $124.5M+7.2% | $130.0M+8.5% | $96.9M-18.1% | $112.2M-47.6% | $116.1M | $119.8M | $118.3M+20.2% | $214.0M |
| Cash & Equivalents | $21.0M+0.3% | $43.4M+65.4% | $9.3M-59.4% | $24.6M+38.1% | $20.9M-87.0% | $26.2M-92.5% | $22.8M+62.5% | $17.8M-5.6% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | $87.2M+3.1% | $74.2M-11.6% | $69.8M-9.5% | $80.1M+32.2% | $84.6M | $83.9M | $77.1M+1.0% | $60.6M |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $1.5B-20.4% | $1.5B-20.5% | $1.8B-2.7% | $1.9B+53.1% | $1.9B | $1.9B | $1.9B+14.6% | $1.2B |
| Current Liabilities | $131.9M-16.2% | $108.2M-28.2% | $176.8M+1.1% | $147.4M-36.2% | $157.4M | $150.6M | $174.8M+30.4% | $231.0M |
| Non-Current Liabilities | $1.4B-20.8% | $1.4B-19.8% | $1.7B-3.0% | $1.7B+74.0% | $1.7B | $1.7B | $1.7B+13.2% | $985.3M |
| Long-Term Debt | $1.2B+16.9% | $1.3B+18.5% | $1.0B+4.8% | $1.1B+28.9% | $1.1B | $1.1B | $977.0M-32.9% | $826.5M |
| Total Equity | $598.4M+8.4% | $595.8M+6.7% | $546.2M+16.8% | $551.9M-15.3% | $552.0M | $558.1M | $467.8M-34.9% | $651.5M |
| Retained Earnings | -$206.6Mn/m | -$208.2Mn/m | -$202.9Mn/m | -$194.8Mn/m | -$193.2M | -$185.2M | -$183.3Mn/m | -$157.8M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
SMC 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $43.9M+18.1% | $6.9M-57.1% | $53.7M+148.0% | $26.7M+191.5% | $37.2Mn/m | $16.0M-63.2% | $21.6M+34.1% | $9.2M |
| Depreciation & Amortization | $26.9M-10.7% | $26.7M-6.3% | $26.7M+5.6% | $28.9M+22.6% | $30.1M+25.7% | $28.5M+2.3% | $25.3M-20.9% | $23.5M-23.5% |
| Stock-Based Compensation | $2.3M-2.7% | $3.0M+27.8% | N/A | $2.1M+12.2% | $2.4M+13.2% | $2.4M-14.3% | N/A | $1.8M+31.8% |
| Capital Expenditures | $25.0M-5.3% | $19.3M-6.4% | $19.1M+21.5% | $22.9M+109.4% | $26.4M+150.8% | $20.6M+25.7% | $15.8M-17.3% | $10.9M |
| Free Cash Flow | $18.9M+75.0% | -$12.4Mn/m | $34.5M+485.8% | $3.8Mn/m | $10.8Mn/m | -$4.6M-116.8% | $5.9Mn/m | -$1.8M |
| Investing Cash Flow | -$31.4Mn/m | -$19.4Mn/m | -$19.4Mn/m | -$23.7Mn/m | -$27.0M-142.5% | -$93.1M-115.3% | -$172.4Mn/m | -$12.6M |
| Financing Cash Flow | -$30.3Mn/m | $42.3M-48.0% | -$43.0M-236.4% | -$68Kn/m | -$14.3Mn/m | $81.5Mn/m | $31.5M+6048.0% | -$12.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SMC 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.3%-6.1pp | 71.7%-1.6pp | 72.1%-2.7pp | 74.0%+1.6pp | 74.4%+3.6pp | 73.3%-1.3pp | 74.8% | 72.4%-5.2pp |
| Net Margin | 1.0%+6.8pp | -3.8%-2.4pp | 3.9%+18.3pp | -1.1% | -5.7%+24.8pp | -1.4% | -14.4% | -200.1% |
| Return on Equity | 0.3%+1.7pp | -0.9%-0.5pp | 1.0%+4.3pp | -0.3%+31.2pp | -1.5% | -0.3% | -3.3% | -31.5% |
| Return on Assets | 0.1%+0.4pp | -0.2%-0.1pp | 0.2%+0.9pp | -0.1%+10.2pp | -0.3% | -0.1% | -0.7% | -10.3% |
| Current Ratio | 0.94+0.2x | 1.20+0.4x | 0.55-0.1x | 0.76-0.2x | 0.74 | 0.80 | 0.68-0.1x | 0.93 |
| Debt-to-Equity | 2.07+0.2x | 2.12+0.2x | 1.88-0.2x | 1.93+0.7x | 1.92 | 1.91 | 2.09+0.1x | 1.27 |
| Liabilities-to-Equity | 2.49-0.9x | 2.50-0.9x | 3.37-0.7x | 3.37+1.5x | 3.39 | 3.36 | 4.04+1.7x | 1.87 |
| Asset Turnover | 0.060.0x | 0.060.0x | 0.060.0x | 0.060.0x | 0.06 | 0.05 | 0.05 | 0.05 |
| FCF Margin | 12.2%+4.5pp | -8.9%-5.5pp | 24.3%+18.8pp | 2.6%+4.3pp | 7.7%+30.6pp | -3.5%-26.4pp | 5.5% | -1.8% |
Not reported in any period shown, so not listed: Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: The current ratio is below 1.0 (0.55), 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 |
|---|---|---|---|---|---|---|
| Summit Midstream Corporation SMC | FY2025 | $562.1M | -$5.9M | -1.1% | $430.7M | 47/100 |
| KNOT OFFSHORE PARTNERS LP KNOP | FY2025 | $364.4M | $23.3M | 6.4% | $343.8M | 42/100 |
| DYNAGAS LNG PARNERS LP DLNG | FY2025 | N/A | $61.6M | N/A | $120.1M | — |
| Martin Midstream Partners LP MMLP | FY2025 | $716.1M | -$14.7M | -2.1% | $78.6M | 42/100 |
| Imperial Petroleum Inc. IMPP | FY2025 | $161.0M | $50.0M | 31.0% | $230.4M | 72/100 |
| New Fortress Energy Inc. NFE | FY2025 | $1.5B | -$1.8B | N/A | $20.9M | 4/100 |
Where Summit Midstream Corporation Ranks
Frequently Asked Questions
What is Summit Midstream Corporation's annual revenue?
Summit Midstream Corporation (SMC) reported $562.1M in total revenue for fiscal year 2025. This represents a 30.8% 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 Summit Midstream Corporation's revenue growing?
Summit Midstream Corporation (SMC) revenue grew by 30.8% year-over-year, from $429.6M to $562.1M in fiscal year 2025.
Is Summit Midstream Corporation profitable?
Yes, Summit Midstream Corporation (SMC) reported a net income of $289K over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $5.9M, with a net profit margin of -1.1%.
How much debt does Summit Midstream Corporation have?
As of fiscal year 2025, Summit Midstream Corporation (SMC) had $9.3M in cash and equivalents against $1.0B in long-term debt.
What is Summit Midstream Corporation's gross margin?
Summit Midstream Corporation (SMC) had a gross margin of 73.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Summit Midstream Corporation's net profit margin?
Summit Midstream Corporation (SMC) had a net profit margin of -1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Summit Midstream Corporation's return on equity (ROE)?
Summit Midstream Corporation (SMC) has a return on equity of -1.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Summit Midstream Corporation's free cash flow?
Summit Midstream Corporation (SMC) generated $44.6M in free cash flow during fiscal year 2025. This represents a 446.0% change compared to the previous fiscal year. 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 Corporation's operating cash flow?
Summit Midstream Corporation (SMC) generated $133.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Summit Midstream Corporation's total assets?
Summit Midstream Corporation (SMC) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Summit Midstream Corporation's capital expenditures?
Summit Midstream Corporation (SMC) invested $89.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Summit Midstream Corporation's current ratio?
Summit Midstream Corporation (SMC) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Summit Midstream Corporation's debt-to-equity ratio?
Summit Midstream Corporation (SMC) had a debt-to-equity ratio of 1.88 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Summit Midstream Corporation's liabilities-to-equity ratio?
Summit Midstream Corporation (SMC) had a liabilities-to-equity ratio of 3.37 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Summit Midstream Corporation's return on assets (ROA)?
Summit Midstream Corporation (SMC) had a return on assets of -0.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Summit Midstream Corporation's P/E ratio?
Summit Midstream Corporation (SMC) has no price-to-earnings ratio at the moment: outside the range published as a multiple (on $289K net income, trailing 12 months to June 30, 2026). The market capitalization is $430.7M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Summit Midstream Corporation's price-to-sales ratio?
Summit Midstream Corporation (SMC) trades at 0.7x sales, its market capitalization divided by $583.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $430.7M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Summit Midstream Corporation's Piotroski F-Score?
Summit Midstream Corporation (SMC) has a Piotroski F-Score of 5 out of 8 computable signals; 1 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 Summit Midstream Corporation's earnings high quality?
Summit Midstream Corporation (SMC) reported a net loss of $5.9M while generating $133.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
How financially healthy is Summit Midstream Corporation?
Summit Midstream Corporation (SMC) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average 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.