InsiderClue
Stocks · Energy · Crude Petroleum & Natural Gas

SM Energy Co

SM Clue Score41
United States Fiscal year ends December CIK 0000893538
$37.00 -0.22% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $37.00 +20.80% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue1,129.4Operating income−163.7Net income−160.8EPS, diluted−1.44Fiscal year 2018Revenue2,067.1 +83.0%Operating income836.3Net income508.4EPS, diluted4.48Fiscal year 2019Revenue1,590.1 −23.1%Operating income−70.0Net income−187.0 −136.8%EPS, diluted−1.66 −137.1%Fiscal year 2020Revenue1,126.7 −29.1%Operating income−1,069.0Net income−764.6EPS, diluted−6.72Fiscal year 2021Revenue2,622.9 +132.8%Operating income209.1Net income36.2EPS, diluted0.29Fiscal year 2022Revenue3,358.6 +28.1%Operating income1,579.5Net income1,112.0 +2,969.2%EPS, diluted8.96 +2,989.7%Fiscal year 2023Revenue2,374.0 −29.3%Operating income987.0Net income818.0 −26.4%EPS, diluted6.86 −23.4%Fiscal year 2024Revenue2,690.0 +13.3%Operating income1,076.0Net income770.0 −5.9%EPS, diluted6.67 −2.8%Fiscal year 2025Revenue3,154.0 +17.2%Operating income1,000.0Net income648.0 −15.8%EPS, diluted5.64 −15.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,129.4 2,067.1 1,590.1 1,126.7 2,622.9 3,358.6 2,374.0 2,690.0 3,154.0
Growth +83.0% −23.1% −29.1% +132.8% +28.1% −29.3% +13.3% +17.2%
Operating income −163.7 836.3 −70.0 −1,069.0 209.1 1,579.5 987.0 1,076.0 1,000.0
Net income −160.8 508.4 −187.0 −764.6 36.2 1,112.0 818.0 770.0 648.0
Growth −136.8% +2,969.2% −26.4% −5.9% −15.8%
EPS, diluted −1.44 4.48 −1.66 −6.72 0.29 8.96 6.86 6.67 5.64
Growth −137.1% +2,989.7% −23.4% −2.8% −15.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2017Operating margin−14.5%Net margin−14.2%Fiscal year 2018Operating margin40.5%Net margin24.6%Fiscal year 2019Operating margin−4.4%Net margin−11.8%Fiscal year 2020Operating margin−94.9%Net margin−67.9%Fiscal year 2021Operating margin8.0%Net margin1.4%Fiscal year 2022Operating margin47.0%Net margin33.1%Fiscal year 2023Operating margin41.6%Net margin34.5%Fiscal year 2024Operating margin40.0%Net margin28.6%Fiscal year 2025Operating margin31.7%Net margin20.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −14.5% 40.5% −4.4% −94.9% 8.0% 47.0% 41.6% 40.0% 31.7%
Net margin −14.2% 24.6% −11.8% −67.9% 1.4% 33.1% 34.5% 28.6% 20.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2017Operating cash flow515.4Dividends paid−11.1Fiscal year 2018Operating cash flow720.6Dividends paid−11.2Fiscal year 2019Operating cash flow823.6Dividends paid−11.3Fiscal year 2020Operating cash flow790.9Buybacks0.0Dividends paid−2.3Fiscal year 2021Operating cash flow1,159.8Buybacks0.0Dividends paid−2.4Fiscal year 2022Operating cash flow1,686.4Buybacks−57.2Dividends paid−19.6Fiscal year 2023Operating cash flow1,574.0Buybacks−228.0Dividends paid−72.0Fiscal year 2024Operating cash flow1,783.0Buybacks−86.0Dividends paid−85.0Fiscal year 2025Operating cash flow2,011.0Buybacks−13.0Dividends paid−92.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 515.4 720.6 823.6 790.9 1,159.8 1,686.4 1,574.0 1,783.0 2,011.0
Buybacks n/a n/a n/a 0.0 0.0 −57.2 −228.0 −86.0 −13.0
Dividends paid −11.1 −11.2 −11.3 −2.3 −2.4 −19.6 −72.0 −85.0 −92.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash313.9Shareholders’ equity2,394.6Fiscal year 2018Cash78.0Shareholders’ equity2,920.3Fiscal year 2019Cash0.0Total debt2,610.3Net cash (debt)−2,610.3Shareholders’ equity2,749.0Debt to equity0.95Fiscal year 2020Cash0.0Total debt2,214.3Net cash (debt)−2,214.3Shareholders’ equity2,016.2Debt to equity1.10Fiscal year 2021Cash332.7Total debt2,081.2Net cash (debt)−1,748.4Shareholders’ equity2,063.1Debt to equity1.01Fiscal year 2022Cash445.0Shareholders’ equity3,085.0Fiscal year 2023Cash616.2Shareholders’ equity3,616.0Fiscal year 2024Cash0.0Shareholders’ equity4,237.0Fiscal year 2025Cash368.0Shareholders’ equity4,810.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 313.9 78.0 0.0 0.0 332.7 445.0 616.2 0.0 368.0
Total debt n/a n/a 2,610.3 2,214.3 2,081.2 n/a n/a n/a n/a
Net cash (debt) n/a n/a −2,610.3 −2,214.3 −1,748.4 n/a n/a n/a n/a
Shareholders’ equity 2,394.6 2,920.3 2,749.0 2,016.2 2,063.1 3,085.0 3,616.0 4,237.0 4,810.0
Debt to equity n/a n/a 0.95 1.10 1.01 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1,129.4 2,067.1 1,590.1 1,126.7 2,622.9 3,358.6 2,374.0 2,690.0 3,154.0
Growth +83.0% −23.1% −29.1% +132.8% +28.1% −29.3% +13.3% +17.2%
507.9 487.4 500.7 n/a n/a n/a n/a n/a n/a
117.3 116.5 132.8 99.2 111.9 114.6 121.0 138.0 161.0
−163.7 836.3 −70.0 −1,069.0 209.1 1,579.5 987.0 1,076.0 1,000.0
Growth −108.4% +655.3% −37.5% +9.0% −7.1%
−343.8 651.8 −231.0 −956.7 46.2 1,395.8 914.0 966.0 830.0
−183.0 143.4 −44.0 −192.1 9.9 283.8 96.0 196.0 182.0
−160.8 508.4 −187.0 −764.6 36.2 1,112.0 818.0 770.0 648.0
Growth −136.8% +2,969.2% −26.4% −5.9% −15.8%
Per share
−1.44 4.54 −1.66 −6.72 0.30 9.09 6.89 6.71 5.65
−1.44 4.48 −1.66 −6.72 0.29 8.96 6.86 6.67 5.64
Growth −137.1% +2,989.7% −23.4% −2.8% −15.4%
111.4 111.9 112.5 113.7 119.0 122.4 119.0 115.0 115.0
111.4 113.5 112.5 113.7 123.7 124.1 119.0 116.0 115.0
Growth +1.9% −0.8% +1.1% +8.8% +0.3% −4.1% −2.5% −0.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 22.9% a year over five years.
  • The diluted share count rose 1.1% in five years, which is dilution.
  • Operating margin is up 126.6 points on five years ago, at 31.7%.
  • A net loss in 3 of 9 years on file.