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Summit Midstream Partners, LP

SMC Energy Oil & Gas Midstream

Summit Midstream Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $562.1 million, up 30.8% from fiscal 2024.

Revenue
+10.6%
EPS
+118.2%
Free cash flow
+75.0%
Total debt
+15.3%

Quarter to June 2026, against a year earlier

27.03 0.24 +0.90%
Market cap
$544.1M
P/E
0.0×
Fwd P/E
886×
Dividend yield
—
F-score
4/9
Altman Z
0.32
Beneish M
−2.72
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 37.95
Sold, $m 0.48
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — — 1 — 1 — — 1 —
Insider Ownership 29.91%

Capital & Financial Ratios $m

Size
Market Cap 544.05
Revenue ttm 583.33
Net income ttm (0.91)
Free cash flow ttm 44.84
Net debt Q 1,207.89
Valuation
P/E 0.00
Forward P/E 886.00 (above 35: high)
Price / sales 0.63
Forward P/S Powerpack
Price / FCF 8.26
Price / book 0.43
Financial health
Current ratio Q 0.94 (below 1: weak)
Debt / equity Q 1.35
Interest coverage Q 0.91
Growth
Revenue growth Q +10.55% (above 0%: growing)
Operating income growth Q +74.72% (above 0%: growing)
EPS, this year +102.17% (at or above 15%: strong)
EPS, next year A +1,585.71% (at or above 15%: strong)
Revenue, next year A +8.72%
EPS, past 5 yrs —
EPS, next 5 yrs A +46.98% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 3.9×; over the ten years it ranged from 2.4× in 2024 to 7.5× in 2016.
P/S against its own 10 years 48.40%
10-year low 10-year high
P/B against its own 10 years 56.33%
10-year low 10-year high
EV/Sales against its own 10 years 11.92%
10-year low 10-year high
EV/FCF against its own 10 years 70.97%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–20
−51.7%/yr
  1. 34.50 ’16
  2. 34.50 ’17 +0
  3. 34.50 ’18 +0
  4. 21.56 ’19 −38
  5. 1.88 ’20 −91
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 17 25 20 32
Receivables 76 77 70 87
Inventory — — — —
Other 6 16 7 6
98 118 97 124
2023 2024 2025 Q'26
Payables 23 25 32 21
ST’ Debt 16 17 21 2
Other 10 35 27 6
134 175 177 132

Compound Annual Growth %

10y 5y 3y
Sales 3.45% 7.95% 15.00%
Cash Flow (3.53%) (7.62%) 10.60%
Earnings 0.00% 0.00% 0.00%
Book Value (5.95%) 0.51% 7.37%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.37 Actual 0.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.00 −0.66 Miss by 0.66
Q1 FY26 −0.49 −0.43 Beat by 0.06
Q2 FY26 −0.37 0.11 Beat by 0.48
Q3 FY26 0.34 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.43) 0.11 — — —
’25 (0.16) (0.66) (0.13) (0.66) (1.61)
’24 11.47 (2.91) (19.25) (2.40) (12.78)
’23 (1.82) (1.91) (0.27) (2.12) (6.11)
’22 0.00 (9.53) (1.28) (3.03) (12.71)
’21 0.12 (2.91) (0.17) (3.42) (6.57)
’20 (0.45) 15.89 7.16 29.73 55.84
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 139 155 — — —
’25 133 140 147 142 562
’24 119 101 102 107 430
’23 112 98 121 127 459
’22 96 99 89 86 370
’21 99 100 102 99 401
’20 105 92 90 96 383
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 7 44 — — —
’25 16 37 27 54 134
’24 44 (13) 9 22 62
’23 50 2 59 16 127
’22 46 14 37 2 99
’21 51 35 42 37 165
’20 70 35 41 52 199
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (12) 19 — — —
’25 (5) 11 4 35 45
’24 27 (19) (2) 6 13
’23 33 (14) 41 (3) 58
’22 39 11 31 (7) 73
’21 57 31 36 24 148
’20 52 26 34 44 155
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 402 489 507 444 383 401 370 459 430 562 583 +3.8% 611 652 685 +6.8%
Gross margin, % 69.49 69.08 59.63 63.44 68.01 61.02 56.44 53.54 49.73 46.93 45.03 (22.6) pt
EBT (8) 89 53 (55) 178 (28) (141) (72) 9 (23) (22) +12.9%
EBT margin, % (1.93) 18.13 10.51 (12.32) 46.33 (7.03) (38.22) (15.79) 2.17 (4.13) (3.72) (2.2) pt
Net income (38) 86 42 (394) 189 (20) (123) (39) (113) (2) (1) (28.3%)
Per share, $
Per share, $ Revenue 88.37 100.78 103.62 146.82 106.76 59.43 36.78 44.41 40.53 46.33 42.24 (6.9%)
Earnings (10.64) 14.84 0.90 (72.56) 52.64 (6.57) (12.71) (6.11) (12.78) (1.61) (1.10) (18.9%)
Cash flow 50.62 49.04 46.62 53.54 55.29 24.49 9.83 12.28 5.83 11.01 9.50 (15.6%)
Capex (31.34) (25.14) (40.92) (26.54) (12.01) (2.53) (2.54) (6.64) (4.64) (7.34) (6.25) (14.9%)
Free cash flow 19.28 23.90 5.69 27.00 43.28 21.97 7.29 5.64 1.18 3.67 3.25 (16.8%)
Book value 256.89 286.57 249.77 259.93 256.93 134.16 76.12 69.53 91.05 78.02 66.53 (12.4%)
Shares, m 5 5 5 3 4 7 10 10 11 12 13 +11.5%
Valuation, ×
Valuation, × P/E 0.00 21.68 167.56 0.00 0.23 0.00 0.00 0.00 0.00 0.00 0.00 18.9
P/S 4.22 3.19 1.45 0.34 0.12 0.37 0.44 0.41 0.93 0.58 0.63 1.2
P/B 1.45 1.42 0.79 0.31 0.06 0.20 0.24 0.30 0.47 0.39 0.43 0.6
EV/Sales 7.28 5.34 3.93 3.93 3.99 5.61 4.44 3.57 3.19 2.40 2.71 4.4
EV/FCF 33.38 22.52 71.50 21.34 9.85 15.18 22.40 28.15 108.98 30.29 35.20 36.4
Cash, $m
Cash, $m Operating cash flow 230 238 228 162 199 165 99 127 62 134 131 (5.9%)
Capex (143) (122) (200) (80) (43) (17) (26) (69) (49) (89) (86) (5.1%)
Free cash flow 88 116 28 82 155 148 73 58 13 45 45 (7.3%)
Balance, $m
Balance, $m Working capital 37 9 (4) 50 14 8 (20) (36) (57) (80) (7) n/m
Net debt 1,233 1,050 1,253 1,591 1,332 1,336 1,477 1,454 968 1,026 1,208 (2.0%)
Shareholders’ equity 1,170 1,390 1,221 785 923 904 765 719 965 947 919 (2.3%)
Returns, %
Returns, % ROA (1.53) 2.39 0.15 (7.61) 10.37 (1.76) (5.02) (2.50) (5.58) (0.82) (0.55) +0.7 pt
ROIC 2.96 4.29 3.59 2.95 1.84 1.83 1.05 2.21 0.85 2.40 2.59 (0.6) pt
ROE (3.30) 6.35 0.43 (30.02) 42.42 (5.97) (18.06) (9.70) (18.35) (2.31) (1.57) +1.0 pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Summit Midstream Partners, LP vs peers in Oil & Gas Midstream (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
FLNG Flex LNG Ltd. $1.4B 13.7× 12.1× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
PBT Permian Basin Royalty Trust $1.3B 81.6× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
TEN Tsakos Energy Navigation Ltd $1.3B 4.5× 3.9× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
NVGS Navigator Holdings Ltd. $1.2B 6.6× 6.9× +1.27% (above 0%: growing) +160.38% (above 0%: growing) +285.64% (above 0%: growing) 49.79% 23.29% Compare
TK Teekay Corporation Ltd. $1.1B 8.7× 41.1× −24.36% (below 0%: shrinking) −23.68% (below 0%: shrinking) +211.73% (above 0%: growing) 31.43% 27.41% Compare
SBR Sabine Royalty Trust $960.2M 13.6× 12.4× +16.53% (above 0%: growing) +17.21% (above 0%: growing) — 100.00% 95.66% Compare
WHK WhiteHawk Minerals Corp. $730.7M — (loss-making) — (loss-making) — n/m — 100.00% (4.61%) Compare
SMC Summit Midstream Partners, LP $544.1M — (loss-making) 886× +10.55% (above 0%: growing) n/m +74.99% (above 0%: growing) 42.65% 16.09%
KNOP KNOT Offshore Partners LP $292.7M 21.2× 12.8× +11.16% (above 0%: growing) −50.00% (below 0%: shrinking) +3.37% (above 0%: growing) 61.32% 16.08% Compare
Median of peers $1.1B 13.6× 12.4× +16.53% +60.00% +185.92% 69.16% 40.97%

All 57 Oil & Gas Midstream stocks →

Summit Midstream Partners, LP (SMC) Latest News

1 Sep

Impact 4 · · offshore-technology.com

31 Aug

Impact 4 ·

17 Aug

Impact 3 · · The Motley Fool transcript

14 Aug

Impact 3 ·

11 Aug

Impact 3 · · MarketBeat transcript
Impact 3 · · Moby transcript

10 Aug

Impact 3 ·

24 Jun

Impact 3 · · Zacks

8 Jun

Impact 4 · · PR Newswire

1 Jun

Impact 3 · · Zacks
Impact 3 · · PR Newswire

16 May

Impact 3 · · Simply Wall St.

15 May

Impact 3 · · MarketBeat

12 May

Impact 3 · · GuruFocus.com
Impact 3 · · Moby transcript

11 May

Impact 3 · · PR Newswire

31 Mar

Impact 4 · · PR Newswire

17 Mar

Impact 4 · · GuruFocus.com
Impact 4 · · Moby
Impact 3 · · MarketBeat

16 Mar

Impact 4 · · PR Newswire

2 Feb

Impact 3 · · PR Newswire

15 Jan

Impact 3 · · Simply Wall St.

19 Dec

Impact 3 · · Simply Wall St.

25 Nov

Impact 4 · · Insider MonkeyInsider MonkeyInsider MonkeyMT Newswires

14 Nov

Impact 3 · · ZacksInsider MonkeyGuruFocus.comMT NewswiresAssociated Press FinanceZacksGuruFocus.com

12 Nov

Impact 3 · · Simply Wall St.

11 Nov

Impact 4 · · GuruFocus.com transcript

10 Nov

Impact 3 · · PR Newswire

12 Aug

Impact 4 ·
stockrow.com/SMC · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com