Saturday 17 October 2026 Export SM’s income statement to Excel — free account

SM Energy Company

SM Energy Company’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 17.2% from fiscal 2024. In the quarter to June 2026, revenue grew 215.3%, EPS grew 154.6%, free cash flow grew 673.9% and total debt rose 144.2%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

39.49 1.97 +5.25%

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Market cap: $8.9B
P/E: 7.7×
Fwd P/E: 6.5×
Dividend yield: 2.68%
F-score: 6/9
Altman Z: 1.44
Beneish M: −2.98
Dividend safety: 78/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.62

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	1	—	—	1	1	—

Insider Ownership 1.43%

Capital & Financial Ratios $m

Market Cap 8,920.00

Revenue 5,495.00

Net Income 1,000.00

Free Cash Flow 1,640.00

Net Debt 6,000.00

Current Ratio 0.62

Debt/Equity 0.85

P/E ratio 7.74

Fwd P/E 6.46

P/S ratio 1.72

P/B ratio 1.21

Past 5Y EPS Growth —

This Y EPS Growth 42.17%

Next Y EPS Growth 6.91%

Next Y revenue growth 142.90%

Next 5Y EPS Growth 12.51%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 68.00%

10-year low 10-year high

P/S against its own 10 years 68.93%

10-year low 10-year high

P/B against its own 10 years 64.28%

10-year low 10-year high

EV/Sales against its own 10 years 69.55%

10-year low 10-year high

EV/FCF against its own 10 years 24.10%

10-year low 10-year high

Dividends

Payout Ratio 0.21

Annual Dividend Rate 1.06

Annual Dividend Yield 2.68%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.93	0.22 0.22 0.22
2025	0.80	0.20 0.20 0.20 0.20 0.20
2024	0.74	0.18 0.18 0.18 0.20
2023	0.60	0.15 0.15 0.15 0.15
2022	0.16	0.01 0.15
2021	0.02	0.01 0.01
2020	0.02	0.01 0.01
2019	0.10	0.05 0.05
2018	0.10	0.05 0.05
2017	0.10	0.05 0.05
2016	0.10	0.05 0.05

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	616	—	368	620
Receivables	231	361	331	989
Inventory	—	—	—	—
Other	56	49	83	145
	916	435	811	1,900

	2023	2024	2025	Q'26
Payables	612	760	690	2,367
ST’ Debt	—	—	419	—
Other	22	29	60	306
	634	790	1,169	3,089

Compound Annual Growth %

	10y	5y	3y
Sales	7.31%	22.86%	(2.07%)
Cash Flow	7.34%	20.52%	6.04%
Earnings	0.00%	0.00%	(16.47%)
Book Value	10.01%	18.99%	15.95%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,479	2,500	—	—	—
’25	845	793	812	704	3,154
’24	560	635	644	852	2,690
’23	574	551	641	609	2,374
’22	860	992	835	671	3,359
’21	444	564	760	855	2,623
’20	356	170	281	320	1,127

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	640	1,103	—	—	—
’25	483	571	505	452	2,011
’24	276	476	452	578	1,783
’23	332	383	383	476	1,574
’22	342	543	513	288	1,686
’21	106	296	328	430	1,160
’20	218	114	202	257	791

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	85	1,246	—	—	—
’25	69	161	86	223	539
’24	(56)	154	149	(1,879)	(1,632)
’23	91	(15)	146	253	475
’22	192	327	287	0	806
’21	(42)	74	148	302	482
’20	79	(57)	85	136	243

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(1.68)	4.46	—	—	—
’25	1.59	1.76	1.35	0.95	5.64
’24	1.13	1.82	2.09	1.64	6.67
’23	1.62	1.25	1.88	2.12	6.86
’22	0.39	2.60	3.87	2.09	8.96
’21	(2.19)	(1.88)	0.69	3.43	0.29
’20	(3.64)	(0.79)	(0.86)	(1.44)	(6.72)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	6.99	12.29	13.15	6.85	0.90	5.89	28.91	24.66	34.76	17.58	Analyst estimates 2026–2028 Powerpack
	High	43.09	36.77	33.76	21.19	12.40	38.25	54.97	43.73	53.26	44.95
People
People	Employees	607	635	611	530	503	506	539	544	663	1,241
	Revenue/emp, $m	2.01	1.78	3.38	3.00	2.24	5.18	6.23	4.36	4.06	2.54
Income, $m
Income, $m	Revenue	1,217	1,129	2,067	1,590	1,127	2,623	3,359	2,374	2,690	3,154
	Gross margin, %	50.92	55.03	76.42	68.51	65.28	80.73	81.51	76.24	76.32	71.94
	EBT	(1,202)	(344)	652	(231)	(957)	46	1,396	914	966	830
	EBT margin, %	(98.72)	(30.44)	31.53	(14.53)	(84.91)	1.76	41.56	38.50	35.91	26.32
	Net income	(758)	(161)	508	(187)	(765)	36	1,112	818	770	648
	Depreciation	801	573	681	839	803	792	614	695	816	1,217
Per share, $
Per share, $	Revenue	15.90	10.14	18.47	14.13	9.91	22.03	27.45	19.95	23.39	27.43
	Earnings	(9.90)	(1.44)	4.54	(1.66)	(6.72)	0.30	9.09	6.89	6.71	5.65
	Cash flow	7.22	4.63	6.44	7.32	6.95	9.74	13.78	13.23	15.50	17.49
	Capex	(24.39)	(1.81)	(5.25)	(9.00)	(4.82)	(5.70)	(7.19)	(9.24)	(29.70)	(12.80)
	Free cash flow	(17.17)	2.82	1.19	(1.69)	2.14	4.05	6.59	3.99	(14.19)	4.69
	Book value	32.61	21.49	26.09	24.43	17.73	17.33	25.22	30.39	36.84	41.83
	Shares, m	77	111	112	113	114	119	122	119	115	115
Valuation, ×
Valuation, ×	P/E	0.00	0.00	3.41	0.00	0.00	226.77	3.53	5.64	5.78	3.31
	P/S	2.16	2.29	0.84	0.80	0.62	1.34	1.17	1.95	1.66	0.68
	P/B	1.05	1.08	0.59	0.46	0.35	1.70	1.27	1.28	1.05	0.45
	EV/Sales	4.53	4.59	2.22	2.73	2.89	2.14	1.60	2.50	2.17	1.43
	EV/FCF	(4.19)	16.53	34.61	(22.88)	13.38	11.63	6.67	12.50	(3.58)	8.34
Cash, $m
Cash, $m	Operating cash flow	553	515	721	824	791	1,160	1,686	1,574	1,783	2,011
	Capex	(1,868)	(202)	(588)	(1,013)	(548)	(678)	(880)	(1,099)	(3,415)	(1,472)
	Free cash flow	(1,315)	314	133	(190)	243	482	806	475	(1,632)	539
Balance, $m
Balance, $m	Working capital	(191)	(10)	(37)	(219)	(380)	(276)	139	283	(355)	(358)
	Total debt	2,898	2,909	2,596	2,752	2,226	2,088	1,582	1,575	2,777	2,715
	Net debt	2,888	2,595	2,518	2,752	2,226	1,755	1,137	959	2,777	2,347
	Shareholders’ equity	2,497	2,395	2,920	2,749	2,016	2,063	3,085	3,616	4,237	4,810
Returns, %
Returns, %	ROA	(12.61)	(2.56)	8.12	(2.96)	(13.57)	0.71	20.31	13.53	10.30	7.27
	ROIC	(12.27)	(2.05)	9.61	(0.79)	(15.75)	3.42	23.38	13.48	9.59	8.73
	ROE	(34.84)	(6.58)	19.13	(6.60)	(32.09)	1.78	43.19	24.41	19.61	14.33

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AR Antero Resources Corporation	$11.2B	11.0×	7.2×	+20.22% (above 0%: growing)	+80.00% (above 0%: growing)	−289.65% (below 0%: shrinking)	41.92%	24.07%	Compare
RRC Range Resources Corporation	$9.7B	11.8×	9.5×	−2.65% (below 0%: shrinking)	−16.16% (below 0%: shrinking)	−72.91% (below 0%: shrinking)	92.10%	32.10%	Compare
SM SM Energy Company	$8.9B	7.7×	6.5×	+215.26% (above 0%: growing)	+154.55% (above 0%: growing)	+673.91% (above 0%: growing)	77.76%	59.84%
CHRD Chord Energy Corporation	$8.1B	10.4×	7.1×	+84.04% (above 0%: growing)	n/m	+2,825.56% (above 0%: growing)	50.96%	27.74%	Compare
VIST Vista Energy, S.A.B. de C.V. - Sponsored ADR	$7.8B	9.1×	11.4×	+102.26% (above 0%: growing)	+35.27% (above 0%: growing)	+195.82% (above 0%: growing)	57.36%	44.18%	Compare
MTDR Matador Resources Company	$6.7B	9.9×	9.1×	+32.51% (above 0%: growing)	+160.33% (above 0%: growing)	+1,086.25% (above 0%: growing)	98.18%	48.66%	Compare
MGY Magnolia Oil & Gas Corp	$6.6B	11.1×	9.9×	+50.11% (above 0%: growing)	+136.59% (above 0%: growing)	+179.06% (above 0%: growing)	96.41%	50.02%	Compare
MUR Murphy Oil Corporation	$5.7B	20.4×	10.3×	+33.46% (above 0%: growing)	+912.50% (above 0%: growing)	+265.13% (above 0%: growing)	100.00%	38.21%	Compare
CRGY Crescent Energy Company	$5.1B	98.4×	13.9×	+55.34% (above 0%: growing)	+144.26% (above 0%: growing)	+26.96% (above 0%: growing)	100.00%	41.65%	Compare
Median of peers	$7.2B	11.1×	9.7×	+41.79%	+136.59%	+187.44%	94.26%	39.93%

All 73 Oil & Gas E&P stocks →

SM Energy Company (SM) key facts

Strength: SM Energy Company’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 17.2% from fiscal 2024.
SM Energy Company (SM) is an Oil & Gas E&P company in the Energy sector, listed on the New York Stock Exchange.
As of October 16, 2026, SM traded at $39.49, a market capitalization of $8.9 billion.
SM Energy Company pays an annual dividend of $1.06 per share, a yield of 2.68%, with a payout ratio of 20.9%.
Return on equity was 14.3% and debt-to-equity 0.85.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.44 (distress zone) for fiscal 2025.