SM Energy Co (SM) Financial Statements
Industry: Crude Petroleum & Natural Gas
In fiscal 2025, SM Energy reported revenue of $3.15B, up 17.2% from $2.69B the year before. Net income was $648.0M (a 20.5% net margin), or $5.64 per diluted share. Gross margin was 31.7% and operating margin was 31.7%. Operating activities generated $2.01B of cash. At fiscal year end, SM Energy held $9.25B in total assets against $4.44B in total liabilities, including $368.0M of cash and equivalents.
Open the full interactive SM Energy financials → Quarterly statements, key ratios, valuation history and price charts.
SM Energy Key Stats
| Share Price | $38.54 |
|---|---|
| Market Cap | $9.25B |
| P/E Ratio | 6.8 |
| Revenue YoY Growth | +17.2% |
| 52-Week Range | $17.20 – $41.29 |
| Shares Outstanding | 239.0 million (basic, 2026 Q2) |
SM Energy Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.13B | $2.62B | $3.36B | $2.37B | $2.69B | $3.15B |
| Cost of Goods Sold | $2.20B | $2.41B | $1.78B | $1.39B | $1.61B | $2.15B |
| Gross Profit | -$1.07B | $209.1M | $1.58B | $986.9M | $1.08B | $1.00B |
| Operating Income | -$1.07B | $209.1M | $1.58B | $986.9M | $1.08B | $1.00B |
| Pre-Tax Income | -$956.7M | $46.2M | $1.40B | $914.2M | $966.2M | $830.0M |
| Income Tax | -$192.1M | $9.9M | $283.8M | $96.3M | $195.9M | $182.0M |
| Net Income | -$764.6M | $36.2M | $1.11B | $817.9M | $770.3M | $648.0M |
| Diluted EPS | -$6.72 | $0.29 | $8.96 | $6.86 | $6.67 | $5.64 |
SM Energy Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $811.6M | $704.9M | $1.48B | $2.50B |
| Net Income | $155.1M | $109.0M | -$335.0M | $1.07B |
| Diluted EPS | $1.35 | $0.95 | -$1.68 | $4.46 |
SM Energy Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $10,000 | $332.7M | $445.0M | $616.2M | $0 | $368.0M |
| Current Assets | $203.7M | $613.2M | $737.2M | $916.4M | $434.7M | $811.0M |
| Total Assets | $4.98B | $5.23B | $5.72B | $6.38B | $8.58B | $9.25B |
| Current Liabilities | $583.7M | $889.3M | $598.6M | $633.8M | $790.0M | $1.17B |
| Total Long-Term Debt | $2.21B | $2.08B | $1.57B | $1.58B | $2.78B | $2.71B |
| Total Liabilities | $2.96B | $3.17B | $2.63B | $2.76B | $4.34B | $4.44B |
| Shareholders' Equity | $2.02B | $2.06B | $3.09B | $3.62B | $4.24B | $4.81B |
SM Energy Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $790.9M | $1.16B | $1.69B | $1.57B | $1.78B | $2.01B |
| Cash From Investing | -$555.6M | -$667.2M | -$880.3M | -$1.10B | -$3.41B | -$1.47B |
| Cash From Financing | -$235.4M | -$159.8M | -$693.9M | -$304.5M | $1.01B | -$175.0M |
Figures from SM Energy's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full SM Energy financials page for every line item.
SM Energy Company Profile
| Ticker | SM |
|---|---|
| Exchange | NYSE |
| Industry | Crude Petroleum & Natural Gas |
| Headquarters | Denver, Colorado |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000893538 |
Frequently Asked Questions
What was SM Energy's revenue in fiscal 2025?
SM Energy (SM) reported revenue of $3.15B for fiscal 2025.
What is SM Energy's annual revenue history?
SM Energy's annual revenue by fiscal year: 2020: $1.13B; 2021: $2.62B; 2022: $3.36B; 2023: $2.37B; 2024: $2.69B; 2025: $3.15B.
What was SM Energy's net income in fiscal 2025?
SM Energy reported net income of $648.0M for fiscal 2025.
What was SM Energy's earnings per share (EPS) in fiscal 2025?
SM Energy's diluted EPS was $5.64 for fiscal 2025 (adjusted for any later stock splits).
What was SM Energy's revenue last quarter?
In its most recent reported quarter (2026 Q2), SM Energy reported revenue of $2.50B.
How much debt does SM Energy have?
SM Energy reported $2.71B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of SM Energy are outstanding?
SM Energy reported a weighted average of 239.0 million basic shares outstanding in 2026 Q2.
What is SM Energy's market cap?
Based on its latest closing price, SM Energy (SM) has a market capitalization of about $9.25B.
When does SM Energy's fiscal year end?
SM Energy's fiscal year end, as registered with the SEC, is December 31.
Where is SM Energy headquartered?
SM Energy lists its business address in Denver, Colorado in its SEC filings.