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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. 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%
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 (below 1: weak)
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% (at or above 15%: strong)
Next Y EPS Growth 6.91%
Next Y revenue growth 142.90% (at or above 10%: strong)
Next 5Y EPS Growth 12.51%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 2.6×; over the ten years it ranged from 1.4× in 2025 to 4.6× in 2018.
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.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

SM Energy Company vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

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.

Source: company filings (standardised) and stockrow calculations.

SM Energy Company (SM) Latest News

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stockrow.com/SM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com