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SM · SM Energy Co · Financials

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$38.61 -0.24 (-0.62%) At close · Oct 21
Market Cap
$9.24B
Shares
237.85M
Volume · Oct 21 2.19M Avg daily vol (3M) 3.57M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Revenue
$3.15B +17.2%
FY2025 Revenue FY2008–FY2025
Net Income
$648M -15.8%
FY2025 Net Income FY2008–FY2025
Gross Margin
68.51% -7.9pp
FY2019 Gross Margin FY2016–FY2019
Operating Margin
31.71% -8.3pp
FY2025 Operating Margin FY2008–FY2025
Diluted EPS
$5.64 -15.4%
FY2025 Diluted EPS FY2008–FY2025
Operating Cash Flow
$2.01B +12.8%
FY2025 Operating Cash Flow FY2008–FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Line Item TTM FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 FY2013 FY2012 FY2011 FY2010 FY2009 FY2008
$5.5B $3.15B $2.69B $2.37B $3.36B $2.62B $1.13B $1.59B $2.07B $1.13B $1.22B $1.56B $2.52B $2.29B $1.51B $1.6B $1.09B $832.2M $1.3B
$456.35M — — — — — — $500.71M $487.37M $507.91M $597.57M — — — — — — — —
$911.02M — — — — — — $1.09B $1.58B $621.47M $619.89M — — — — — — — —
— — — — — — — 68.51% 76.42% 55.03% 50.92% — — — — — — — —
$333M $161M $138M $121M $114.56M $111.95M $99.16M $132.8M $116.5M $117.28M $124.83M $157.67M $167.1M $149.55M $119.82M $118.53M $106.66M $76.04M $79.5M
$3.87B $2.15B $1.62B $1.39B $1.78B $2.41B $2.2B $1.66B $1.23B $1.29B $2.27B $2.14B $1.36B $1.93B $1.53B $1.22B $754.06M $963.04M $1.13B
$1.63B $1B $1.08B $987M $1.58B $209.12M -$1.07B -$69.97M $836.34M -$163.72M -$1.06B -$578.78M $1.17B $368.26M -$20.02M $384.38M $338.77M -$130.84M $171.2M
— 31.71% 40% 41.58% 47.03% 7.97% -94.88% -4.4% 40.46% -14.5% -86.82% -37.17% 46.22% 16.06% -1.33% 23.97% 31% -15.72% 13.16%
$310M $173M $141M $92M $120.35M $160.35M $163.89M $159.1M $160.91M $179.26M $158.69M $128.15M $98.55M $89.71M $63.72M $45.85M $24.2M $28.86M $26.95M
$81K — — — — — — — — — — — — $67K $220K $466K $321K $227K $485K
$5M $0 -$1M -$1M -$1.53M -$2.18M -$3.94M -$1.97M $3.09M -$800K -$1.91M $649K -$2.56M $67K $220K — — — —
$1.32B $830M $966M $914M $1.4B $46.17M -$956.71M -$231.04M $651.78M -$343.81M -$1.2B -$722.86M $1.06B $278.61M -$83.52M $339M $314.9M -$159.46M $144.74M
$324M $182M $196M $96M $283.82M $9.94M -$192.09M -$44.04M $143.37M -$182.97M -$444.17M -$275.15M $398.65M $107.68M -$29.27M $123.59M $118.06M -$60.09M $57.39M
$1B $648M $770M $818M $1.11B $36.23M -$764.61M -$187M $508.41M -$160.84M -$757.74M -$447.71M $666.05M $170.94M -$54.25M $215.42M $196.84M -$99.37M $87.35M
— 20.55% 28.62% 34.46% 33.11% 1.38% -67.86% -11.76% 24.6% -14.24% -62.24% -28.76% 26.41% 7.45% -3.6% 13.44% 18.01% -11.94% 6.71%
$1B $650M $772M $819M $1.12B $36.98M -$766.89M -$185.94M $512.79M -$160.08M -$758.9M -$449.8M $660.16M $174.53M -$58.98M $226.62M $219.31M — —
USD/shares $5.10 $5.65 $6.71 $6.89 $9.09 $0.30 -$6.72 -$1.66 $4.54 -$1.44 -$9.90 -$6.61 $9.91 $2.57 -$0.83 $3.38 $3.13 -$1.59 $1.40
USD/shares $5.07 $5.64 $6.67 $6.86 $8.96 $0.29 -$6.72 -$1.66 $4.48 -$1.44 -$9.90 -$6.61 $9.79 $2.51 -$0.83 $3.19 $3.04 -$1.59 $1.38
shares — 115M 115M 119M 122.35M 119.04M 113.73M 112.54M 111.91M 111.43M 76.57M 67.72M 67.23M 66.62M 65.14M 63.76M 62.97M 62.46M 62.24M
shares — 115M 116M 119M 124.08M 123.69M 113.73M 112.54M 113.5M 111.43M 76.57M 67.72M 68.04M 68M 65.14M 67.56M 64.69M 62.46M 63.13M
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $461.41M in buybacks, $366.43M in dividends.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balanceAs ofAmountSource
Noncurrent line of credit borrowings 2026-06-30 USD 0 10-Q filed 2026-08-06
Instrument and agreement coverage is incomplete. Additional filings are awaiting review.
1 filing has incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

6.625% Senior Notes due 2034

Note · SM Energy Company

Reference: 6.625% Senior Notes due 2034

Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Apr 15, 2034

Last reported interest terms: 6.625% Reported 2026-03-09 Later filings may not restate these terms; this does not confirm they still apply.

Covenant terms for this agreement are not yet verified.

Documents and filing history
  1. Issuance · 2026-03-09 Original principal USD 1,000,000,000 Exact source document Parent 8-K filing · 2026-03-09
    On March 9, 2026, SM Energy Company (the “Company”) issued and sold $1.0 billion in aggregate principal amount of the Company’s 6.625% Senior Notes due 2034 (the “Notes”), pursuant to a Purchase Agreement, dated March 4, 2026, among the Company, the guarantors party thereto (the “Subsidiary Guarantors”) and BofA Securities, Inc., acting as representative of the several initial purchasers named therein (the “Initial Purchasers”).
    Issuer evidence: On March 9, 2026, SM Energy Company (the “Company”) issued and sold $1.0 billion in aggregate principal amount of the Company’s 6.625% Senior Notes due 2034 (the “Notes”), pursuant to a Purchase Agreement, dated March 4, 2026, among the Company, the guarantors party thereto (the “Subsidiary Guarantors”) and BofA Securities, Inc., acting as representative of the several initial purchasers named therein (the “Initial Purchasers”).
    Supporting evidence: On March 9, 2026, the Company entered into the Indenture relating to the Notes (the “Indenture”), with the guarantors party thereto and U.S. Bank Trust Company, National Association, a national banking association, as trustee (the “Trustee”), governing the Notes. The Notes will mature on April 15, 2034, unless earlier redeemed or repurchased. Interest on the Notes will accrue at the rate of 6.625% per annum, and will be payable semi-annually in arrears on April 15 and October 15, commencing on October 15, 2026.
    Supporting evidence: On March 9, 2026, SM Energy Company (the “Company”) issued and sold $1.0 billion in aggregate principal amount of the Company’s 6.625% Senior Notes due 2034 (the “Notes”), pursuant to a Purchase Agreement, dated March 4, 2026, among the Company, the guarantors party thereto (the “Subsidiary Guarantors”) and BofA Securities, Inc., acting as representative of the several initial purchasers named therein (the “Initial Purchasers”).

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue
—
Peer median 2.98×
EV/EBIT
—
Peer median 10.73×
P/E (TTM)
7.66×
Peer median 11.95×

Peer medians compare against the 33 similar-size Oil & Gas E&P companies (of 74 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component FY2025 FY2024 FY2023 FY2022
EP Segment $3,154,000,000 $2,690,000,000 $2,374,000,000 $3,358,647,000

By Geography (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Midland Basin $1,372,000,000 $1,567,000,000 $1,524,000,000 $2,250,414,000 $2,028,411,000 $879,577,000 $1,195,736,000 $1,064,607,000
South Texas $891,000,000 $900,000,000 $840,000,000 $1,095,492,000 $569,504,000 $246,611,000 $390,014,000 $514,514,000
Uinta Basin $875,000,000 $204,000,000 — — — — — —
Rocky Mountain — — — — — — — $57,236,000

By Product & Service (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Crude Oil $2,561,000,000 $2,187,000,000 $1,814,000,000 — — — — —
Natural Gas Reserves $353,000,000 $249,000,000 $328,000,000 — — — — —
Natural Gas Liquids Reserves $224,000,000 $235,000,000 $222,000,000 — — — — —
Natural Gas Revenue — — — $790,880,000 $525,479,000 $187,459,000 $262,529,000 $354,450,000
Oil and Condensate Revenue — — — $284,958,000 $180,610,000 $85,161,000 $140,009,000 $216,231,000
Oil Revenue — — — $2,270,068,000 $1,891,826,000 $853,568,000 $1,183,212,000 $1,065,676,000
Key facts CIK 893538 CUSIP 78454L100 13F (30d) 64 filings 63 filers Visit website Investor relations