SM
$39.50+5.28%
SM financial statements
The full income statement, balance sheet, and cash-flow statement for SM Energy Company (SM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 114.4M2024-09 114.4M2024-12 114.5M2025-03 114.5M2025-06 115.0M2025-09 114.6M2025-12 238.4M2026-03 239.7M2026-06 237.9M+107.9% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 3.15B+17.2% | 2.69B+13.3% | 2.37B-29.3% | 3.36B+28.1% | 2.62B+132.8% | |
| Selling, general & administrative | 161M+16.7% | 138M+14.0% | 121M+5.6% | 115M+2.3% | 112M+12.9% | |
| General & administrative | 161M+16.7% | 138M+14.0% | 121M+5.6% | 115M+2.3% | 112M+12.9% | |
| Operating income | 1.00B-7.1% | 1.08B+9.0% | 987M-37.5% | 1.58B+655.3% | 209M+119.6% | |
| Interest expense | 173M+22.7% | 141M+53.3% | 92.0M-23.6% | 120M-24.9% | 160M-2.2% | |
| Other non-operating income | 0.00+100.0% | -1.00M+0.0% | -1.00M+34.8% | -1.53M+29.6% | -2.18M+44.7% | |
| Pre-tax income | 830M-14.1% | 966M+5.7% | 914M-34.5% | 1.40B+2923.3% | 46.2M+104.8% | |
| Income tax | 182M-7.1% | 196M+104.2% | 96.0M-66.2% | 284M+2755.9% | 9.94M+105.2% | |
| Net income | 648M-15.8% | 770M-5.9% | 818M-26.4% | 1.11B+2969.2% | 36.2M+104.7% | |
| $5.64-15.4% | $6.67-2.8% | $6.86-23.4% | $8.96+2989.7% | $0.29+104.3% | ||
| EPS (basic) | $5.65-15.8% | $6.71-2.6% | $6.89-24.2% | $9.09+2930.0% | $0.30+104.5% | |
| Weighted-avg shares (basic) | 115M+0.0% | 115M-3.4% | 119M-2.7% | 122M+2.8% | 119M+4.7% | |
| Weighted-avg shares (diluted) | 115M-0.9% | 116M-2.5% | 119M-4.1% | 124M+0.3% | 124M+8.8% | |
| Dividends per share | $0.80+5.3% | $0.76+20.6% | $0.63+103.2% | $0.31+1450.0% | $0.02+0.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 811M+86.4% | 435M-52.5% | 916M+24.3% | 737M+20.2% | 613M+201.1% | ||
| Cash & equivalents | 368M | 0.00-100.0% | 616M+38.5% | 445M+33.7% | 333M+3327060.0% | |
| Accounts receivable | 331M-8.3% | 361M+56.2% | 231M-0.9% | 233M-5.6% | 247M+52.2% | |
| Prepaid expenses | 29.0M+16.0% | 25.0M+97.3% | 12.7M+23.8% | 10.2M+11.5% | 9.18M-8.3% | |
| 9.25B+7.9% | 8.58B+34.4% | 6.38B+11.6% | 5.72B+9.2% | 5.23B+5.2% | ||
| Property, plant & equipment | 8.20B+2.6% | 7.99B+48.7% | 5.38B+10.1% | 4.88B+6.7% | 4.58B-2.7% | |
| Operating lease right-of-use | 210M+87.5% | 112M+247.1% | 32.3M+22.4% | 26.4M+38.6% | 19.0M-12.3% | |
| Other non-current assets | 234M+61.4% | 145M+84.8% | 78.5M+9.6% | 71.6M+60.7% | 44.6M-6.7% | |
| 1.17B+48.0% | 790M+24.6% | 634M+5.9% | 599M-32.7% | 889M+52.4% | ||
| Accounts payable | 77.0M-7.2% | 83.0M-22.7% | 107M+144.5% | 43.9M+75.1% | 25.1M-60.2% | |
| Accrued liabilities | 167M-16.5% | 200M+36.6% | 146M+16.6% | 126M+76.8% | 71.0M+8.6% | |
| Short-term & current debt | 419M | 0.00 | — | — | — | |
| Current lease liability | 58.0M+163.6% | 22.0M+42.6% | 15.4M+52.5% | 10.1M+55.2% | 6.52M-44.1% | |
| Other current liabilities | 58.0M+163.6% | 22.0M+42.6% | 15.4M+52.5% | 10.1M+55.2% | 6.51M-45.2% | |
| Long-term debt | 2.71B+0.2% | 2.71B+71.9% | 1.58B+0.2% | 1.57B-24.5% | 2.08B-6.0% | |
| Non-current lease liability | 80.0M+86.0% | 43.0M+76.6% | 24.4M+3.1% | 23.6M+21.5% | 19.4M+63.4% | |
| Operating lease liability (total) | 138M+111.3% | 65.3M+64.2% | 39.8M+17.9% | 33.7M+30.0% | 26.0M+10.2% | |
| Deferred tax liabilities | 724M+32.8% | 545M+47.3% | 370M+31.7% | 281M+2774.5% | 9.77M | |
| Other non-current liabilities | 102M+36.0% | 75.0M+15.3% | 65.0M-6.6% | 69.6M+3.0% | 67.6M+19.5% | |
| Total non-current liabilities | 3.27B-7.7% | 3.55B+66.6% | 2.13B+4.8% | 2.03B-10.9% | 2.28B-4.0% | |
| 4.81B+13.5% | 4.24B+17.2% | 3.62B+17.2% | 3.08B+49.5% | 2.06B+2.3% | ||
| Common stock | 1.00M+0.0% | 1.00M-13.6% | 1.16M-5.1% | 1.22M+0.0% | 1.22M+6.3% | |
| Additional paid-in capital | 1.52B+1.0% | 1.50B-4.0% | 1.57B-12.1% | 1.78B-3.3% | 1.84B+0.7% | |
| Retained earnings | 3.29B+20.3% | 2.73B+33.3% | 2.05B+56.8% | 1.31B+457.9% | 235M+16.9% | |
| Accumulated other comprehensive income | 1.00M+200.0% | -1.00M+61.6% | -2.61M+35.2% | -4.02M+68.7% | -12.8M+5.5% | |
| Total liabilities & equity | 9.25B+7.9% | 8.58B+34.4% | 6.38B+11.6% | 5.72B+9.2% | 5.23B+5.2% | |
| Common shares issued | 115M+0.1% | 114M-1.1% | 116M-5.1% | 122M+0.1% | 122M+6.2% | |
| Common shares outstanding | 115M+0.1% | 114M-1.1% | 116M-5.1% | 122M+0.1% | 122M+6.2% | |
| Shares outstanding (cover) | 238M+108.2% | 114M-1.1% | 116M-5.1% | 122M+0.1% | 122M+6.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.01B+12.8% | 1.78B+13.3% | 1.57B-6.7% | 1.69B+45.4% | 1.16B+46.6% | ||
| Share-based compensation | 29.0M+16.0% | 25.0M+25.0% | 20.0M+6.5% | 18.8M-0.2% | 18.8M+25.5% | |
| Deferred income taxes | 178M+1.7% | 175M+98.9% | 88.0M-67.3% | 269M+2712.9% | 9.56M+105.0% | |
| Change in receivables | -30.0M-134.9% | 86.0M+760.0% | 10.0M+125.9% | -38.6M-138.2% | 101M+447.2% | |
| -1.47B+56.9% | -3.41B-210.0% | -1.10B-24.8% | -880M-31.9% | -667M-20.1% | ||
| Capital expenditure | 34.0M-98.4% | 2.10B+1812.7% | 110M+1571328.6% | 7.00K-99.8% | 3.32M-57.8% | |
| Free cash flow | 1.98B+715.9% | -321M-121.9% | 1.46B-13.2% | 1.69B+45.8% | 1.16B+47.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | -4.00M+42.9% | -7.00M-600.0% | -1.00M-410.6% | 322K+102.9% | -10.9M-240.4% | |
| -175M-117.4% | 1.01B+430.5% | -305M+56.0% | -694M-334.1% | -160M+32.1% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 3.00M+0.0% | 3.00M+0.0% | 3.00M-1.3% | 3.04M+15.2% | 2.64M+80.3% | |
| Common stock repurchased | 13.0M-84.9% | 86.0M-62.3% | 228M+298.6% | 57.2M | 0.00 | |
| Dividends paid | 92.0M+8.2% | 85.0M+18.1% | 72.0M+266.7% | 19.6M+720.6% | 2.39M+5.1% | |
| Other financing activities | -5.00M+75.0% | -20.0M-150.0% | -8.00M+19.8% | -9.98M | 0.00+100.0% | |
| Net change in cash | 368M+159.7% | -616M-460.2% | 171M+52.3% | 112M-66.3% | 333M | |
| Interest paid | 166M+88.6% | 88.0M+1.1% | 87.0M-35.2% | 134M-1.7% | 137M-2.8% | |
| Income taxes paid | 4.00M-85.2% | 27.0M+200.0% | 9.00M+185.1% | -10.6M-1124.1% | -864K-113.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 4.46B+0.5% | 4.44B-1.5% | 4.50B+5.3% | 4.28B+19.1% | 3.59B+411.6% | |
| P/E | 6.9×+19.4% | 5.8×+6.1% | 5.4×+62.3% | 3.3×-96.6% | 99.2× | |
| P/S | 1.4×-14.3% | 1.6×-10.8% | 1.8×+53.1% | 1.2×-11.8% | 1.4×+119.8% | |
| P/B | 0.9×-11.5% | 1.0×-20.9% | 1.3×-11.3% | 1.5×-14.3% | 1.7×+399.9% | |
| P/FCF | 2.3× | — | 3.5×+50.7% | 2.3×-24.7% | 3.1×+246.4% | |
| Earnings yield | 14.5%-16.2% | 17.4%-5.7% | 18.4%-38.4% | 29.9%+2863.9% | 1.0% | |
| FCF yield | 44.4% | — | 28.4%-33.6% | 42.7%+32.7% | 32.2%-71.1% | |
| Dividend yield | 4.3%+118.2% | 2.0%+20.5% | 1.6%+82.8% | 0.89%+1211.9% | 0.07%-79.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: SM’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SM filings on SEC EDGAR → Not investment advice.