SM Energy CompanySMNYSE

Revenue (LTM)

$3.2B

+18.1% YoY

Net Income (LTM)

$648M

-15.9% YoY

Free Cash Flow

$573M

Revenue CAGR (5Y)

+22.9%

Marginsdeclining

FCFTurned positive

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	2,598	3,346↑28.8%	2,364↓29.3%	2,671↑13.0%	3,154↑18.1%
Gross Profit	1,318	2,121↑60.9%	1,110↓47.7%	1,225↑10.4%	1,005↓18.0%
Operating Income	209	1,579↑655.3%	987↓37.5%	1,076↑9.0%	822↓23.6%
Net Income	36	1,112↑2969.2%	818↓26.4%	770↓5.8%	648↓15.9%
EBITDA	981	2,120↑116.1%	1,696↓20.0%	1,916↑13.0%	2,210↑15.3%
EPS Diluted	0.29	8.96↑2989.7%	6.86↓23.4%	6.67↓2.8%	5.64↓15.4%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	333	445↑33.7%	616↑38.5%	0	368
Total Current Assets	613	737↑20.2%	916↑24.3%	435↓52.6%	811↑86.6%
Total Assets	5,234	5,716↑9.2%	6,380↑11.6%	8,577↑34.4%	9,253↑7.9%
Total Current Liabilities	889	599↓32.7%	634↑5.9%	790↑24.6%	1,169↑48.0%
Total Liabilities	3,171	2,631↓17.0%	2,764↑5.1%	4,339↑57.0%	4,443↑2.4%
Total Equity	2,063	3,085↑49.6%	3,616↑17.2%	4,237↑17.2%	4,810↑13.5%
Total Debt	2,081	1,572↓24.5%	1,575↑0.2%	2,842↑80.4%	2,296↓19.2%
Net Debt	1,748	1,127↓35.5%	959↓14.9%	2,842↑196.3%	1,928↓32.2%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	1,160	1,686↑45.4%	1,574↓6.6%	1,783↑13.2%	2,011↑12.8%
Capital Expenditure	-678	-880↓29.8%	-1,099↓24.9%	-3,414↓210.6%	-1,438↑57.9%
Free Cash Flow	482	806↑67.5%	475↓41.1%	-1,632↓443.5%	573↑135.1%
Stock-Based Comp	19	19↓0.2%	20↑7.9%	25↑23.6%	29↑15.9%
Net Change in Cash	333	112↓66.3%	171↑52.4%	-616↓460.0%	368↑159.7%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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