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Friday 6 November 2026 Export SM’s income statement to Excel — free account

SM Energy Company

SM Energy Oil & Gas E&P

SM Energy Company’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 17.2% from fiscal 2024.

Revenue
+167.4%
EPS
−70.9%
Free cash flow
+369.4%
Total debt
+188.3%

Quarter to September 2026, against a year earlier

29.75 1.31 −4.22%
Market cap
$7.1B
P/E
7.2×
Fwd P/E
5.5×
Dividend yield
2.89%
F-score
6/9
Altman Z
1.44
Beneish M
−2.98
Dividend safety
78/100
Overview Business Profile Earnings & Analysis
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Income Statement Balance Sheet Cash Flow Metrics & Ratios
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SM Energy Company (SM) Gross margin

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SM Energy Company's gross margin over the twelve months to 30 September 2026 was 74.3%, up 2.3 percentage points from fiscal 2025 (71.9%). Over the past ten years it has ranged from 50.9% (fiscal 2016) to 81.5% (fiscal 2022); the current reading is higher than 55% of that period. That is below the Oil & Gas E&P industry median of 79.5% and above the Energy sector median of 42.1%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 71.9% (4.38)
FY2024 76.3% 0.08
FY2023 76.2% (5.27)
FY2022 81.5% 0.78
FY2021 80.7% 15.45
FY2020 65.3% (3.23)
FY2019 68.5% (7.91)
FY2018 76.4% 21.39
FY2017 55.0% 4.11
FY2016 50.9% (2.60)

Quarterly newest first

Period Gross margin Change (points)
Sep 2026 73.6% (4.21)
Jun 2026 77.8% 6.70
Mar 2026 71.1% 0.44
Dec 2025 70.6% (1.16)
43 more quarters

Against its own ten years

Low 50.9% High 81.5%
Ten-year median 71.9%
Current reading's percentile 60

Gross margin against peers

Company Gross margin
MUR Murphy Oil Corporation compare 100.0%
CRGY Crescent Energy Company compare 100.0%
MTDR Matador Resources Company compare 92.3%
CNX CNX Resources Corporation. compare 83.1%
SM SM Energy Company 74.3%
VIST Vista Energy, S.A.B. de C.V. - Sponsored ADR compare 54.2%
CHRD Chord Energy Corporation compare 0.00%
LB LandBridge Company LLC compare 0.00%
MGY Magnolia Oil & Gas Corp compare 0.00%
Oil & Gas E&P industry median 79.5%
Energy sector median 42.1%
Market median 45.1%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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