Revenue
2.5 billion USD
2026 Q2 · USD
Exact inputs and evidence
- Revenue: 2500000000 USD Source
Fundies. English
SM Energy Co
EDGARAnnual consolidated revenue for 2025: about USD 3.154B, using the latest reported figures. The previous period, 2024, was about USD 2.69B.
Latest quarter
Operating margin
59.84%
2026 Q2 · %
Operating cash flow
1.1 billion USD
2026 Q2 · USD
- Cash and cash equivalents
- 620 million USD Source
Exact value
620000000 USD
- Long-term debt including current maturities
- 1.57 billion USD Source
Exact value
1570648000 USD
- Shares outstanding
- 237 million shares Source
Exact value
237494374 shares
Reported share-count change
107.17% · 123 million shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Revenue
5.5 billion USD
2025-07-01 – 2026-06-30
Exact inputs and evidence
Net income
1 billion USD
2025-07-01 – 2026-06-30
Exact inputs and evidence
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-10-14.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 11 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- liabilities: No compatible figures in this window
- Current assets: 11 of 11 periods available· newest 2025-12-31
- Current liabilities: 11 of 11 periods available· newest 2025-12-31
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- Long-term debt including current maturities: 3 of 11 periods available· newest 2021-12-31
- Shares outstanding: 11 of 11 periods available· newest 2025-12-31
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+17.2%Prior period
USD 2.69 billion
–
Current period
USD 3.15 billion
–
Exact inputs and evidence
3154000000 − 2690000000 = 464000000 USD
2690000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source3154000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
-15.8%Prior period
USD 770 million
–
Current period
USD 648 million
–
Exact inputs and evidence
648000000 − 770000000 = -122000000 USD
770000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source648000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+12.8%Prior period
USD 1.78 billion
–
Current period
USD 2.01 billion
–
Exact inputs and evidence
2011000000 − 1783000000 = 228000000 USD
1783000000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source2011000000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 3.15 billion 100% of revenue
- Operating costs Derived USD 2.15 billion 68% of revenue
- Operating income USD 1 billion 32% of revenue
- Tax, interest and other Derived USD 352 million 11% of revenue
- Net income USD 648 million 21% of revenue
Cash
- Operating cash flow USD 2.01 billion 64% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 Operating loss: operating costs were 187% of revenue.
- 2017 Operating loss: operating costs were 114% of revenue.
- 2018 25%16%60%
- 2019 Operating loss: operating costs were 104% of revenue.
- 2020 Operating loss: operating costs were 195% of revenue.
- 2021 92%
- 2022 33%14%53%
- 2023 34%58%
- 2024 29%11%60%
- 2025 21%11%68%
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 1217450000 | 2274494000 Derived | -1057044000 | -299300000 Derived | -757744000 | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 1129376000 | 1293097000 Derived | -163721000 | -2878000 Derived | -160843000 | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 2067072000 | 1230735000 Derived | 836337000 | 327930000 Derived | 508407000 | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 1590105000 | 1660073000 Derived | -69968000 | 117033000 Derived | -187001000 | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 1126673000 | 2195623000 Derived | -1068950000 | -304336000 Derived | -764614000 | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 2622894000 | 2413771000 Derived | 209123000 | 172894000 Derived | 36229000 | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 3358647000 | 1779166000 Derived | 1579481000 | 467529000 Derived | 1111952000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 2374000000 | 1387000000 Derived | 987000000 | 169000000 Derived | 818000000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 2690000000 | 1614000000 Derived | 1076000000 | 306000000 Derived | 770000000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 3154000000 | 2154000000 Derived | 1000000000 | 352000000 Derived | 648000000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 3.2B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 1217450000 |
|
| 2017 | Revenue | 1129376000 |
|
| 2018 | Revenue | 2067072000 |
|
| 2019 | Revenue | 1590105000 |
|
| 2020 | Revenue | 1126673000 |
|
| 2021 | Revenue | 2622894000 |
|
| 2022 | Revenue | 3358647000 |
|
| 2023 | Revenue | 2374000000 |
|
| 2024 | Revenue | 2690000000 |
|
| 2025 | Revenue | 3154000000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
17.2% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | -21.8% |
|
| 2017 | Year over year | -7.2% |
|
| 2018 | Year over year | 83% |
|
| 2019 | Year over year | -23.1% |
|
| 2020 | Year over year | -29.1% |
|
| 2021 | Year over year | 132.8% |
|
| 2022 | Year over year | 28.1% |
|
| 2023 | Year over year | -29.3% |
|
| 2024 | Year over year | 13.3% |
|
| 2025 | Year over year | 17.2% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 31.7% 2025
Net margin 20.5% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | -86.8% |
|
| 2017 | Operating margin | -14.5% |
|
| 2018 | Operating margin | 40.5% |
|
| 2019 | Operating margin | -4.4% |
|
| 2020 | Operating margin | -94.9% |
|
| 2021 | Operating margin | 8% |
|
| 2022 | Operating margin | 47% |
|
| 2023 | Operating margin | 41.6% |
|
| 2024 | Operating margin | 40% |
|
| 2025 | Operating margin | 31.7% |
|
| 2016 | Net margin | -62.2% |
|
| 2017 | Net margin | -14.2% |
|
| 2018 | Net margin | 24.6% |
|
| 2019 | Net margin | -11.8% |
|
| 2020 | Net margin | -67.9% |
|
| 2021 | Net margin | 1.4% |
|
| 2022 | Net margin | 33.1% |
|
| 2023 | Net margin | 34.5% |
|
| 2024 | Net margin | 28.6% |
|
| 2025 | Net margin | 20.5% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 2B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 552804000 |
|
| 2017 | Operating cash flow | 515390000 |
|
| 2018 | Operating cash flow | 720629000 |
|
| 2019 | Operating cash flow | 823567000 |
|
| 2020 | Operating cash flow | 790944000 |
|
| 2021 | Operating cash flow | 1159772000 |
|
| 2022 | Operating cash flow | 1686406000 |
|
| 2023 | Operating cash flow | 1574000000 |
|
| 2024 | Operating cash flow | 1783000000 |
|
| 2025 | Operating cash flow | 2011000000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016-12-31 | Liabilities / assets | Not reported |
|
| 2017-12-31 | Liabilities / assets | Not reported |
|
| 2018-12-31 | Liabilities / assets | Not reported |
|
| 2019-12-31 | Liabilities / assets | Not reported |
|
| 2020-12-31 | Liabilities / assets | Not reported |
|
| 2021-12-31 | Liabilities / assets | Not reported |
|
| 2022-12-31 | Liabilities / assets | Not reported |
|
| 2023-12-31 | Liabilities / assets | Not reported |
|
| 2024-12-31 | Liabilities / assets | Not reported |
|
| 2025-12-31 | Liabilities / assets | Not reported |
|
Current assets to current liabilities
Current assets divided by current liabilities.
0.69× 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 0.54× |
|
| 2017 | Current assets / current liabilities | 0.98× |
|
| 2018 | Current assets / current liabilities | 0.92× |
|
| 2019 | Current assets / current liabilities | 0.54× |
|
| 2020 | Current assets / current liabilities | 0.35× |
|
| 2021 | Current assets / current liabilities | 0.69× |
|
| 2022 | Current assets / current liabilities | 1.23× |
|
| 2023 | Current assets / current liabilities | 1.45× |
|
| 2024 | Current assets / current liabilities | 0.55× |
|
| 2025 | Current assets / current liabilities | 0.69× |
|
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | −USD 757.74 million Exact valueExact value: -757744000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 552.8 million Exact valueExact value: 552804000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | −USD 160.84 million Exact valueExact value: -160843000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 515.39 million Exact valueExact value: 515390000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | USD 508.41 million Exact valueExact value: 508407000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 720.63 million Exact valueExact value: 720629000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | −USD 187 million Exact valueExact value: -187001000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 823.57 million Exact valueExact value: 823567000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | −USD 764.61 million Exact valueExact value: -764614000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 790.94 million Exact valueExact value: 790944000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | USD 36.23 million Exact valueExact value: 36229000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.16 billion Exact valueExact value: 1159772000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 1.11 billion Exact valueExact value: 1111952000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.69 billion Exact valueExact value: 1686406000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 818 million Exact valueExact value: 818000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.57 billion Exact valueExact value: 1574000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 770 million Exact valueExact value: 770000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 1.78 billion Exact valueExact value: 1783000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 648 million Exact valueExact value: 648000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 2.01 billion Exact valueExact value: 2011000000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
204 filings · 4,463 latest values · 4,463 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0000893538, 893538, SM, edgar:893538
Also known as SM ENERGY CO, SM Energy Co, SM Energy Company, ST MARY LAND & EXPLORATION CO