SM Energy Co (SM) stock
SMNYSECrude Petroleum & Natural GasFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 4, 2026Score 12/3017% below fair value
$32.73−0.04 (-0.12%)
Close on Nov 13, 2026Market cap $7.78BP/E 7.9Yield 2.44%
SM Energy gross margin
Gross margin is gross profit as a percentage of revenue.
SM Energy's gross margin for the twelve months ending Sep 30, 2026 was 74.2%. For fiscal 2025 it was 71.9%, against 76.3% the year before. The highest annual figure on record is 81.5% in fiscal 2022.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 71.9% | −4.4 |
| FY2024 | Dec 31, 2024 | 76.3% | +0.1 |
| FY2023 | Dec 31, 2023 | 76.2% | −5.3 |
| FY2022 | Dec 31, 2022 | 81.5% | +0.8 |
| FY2021 | Dec 31, 2021 | 80.7% | +15.5 |
| FY2020 | Dec 31, 2020 | 65.3% | −3.2 |
| FY2019 | Dec 31, 2019 | 68.5% | −7.9 |
| FY2018 | Dec 31, 2018 | 76.4% | +21.4 |
| FY2017 | Dec 31, 2017 | 55.0% | +4.1 |
| FY2016 | Dec 31, 2016 | 50.9% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 73.5% | +1.8 |
| Q2 FY2026 | Jun 30, 2026 | 77.8% | +6.0 |
| Q1 FY2026 | Mar 31, 2026 | 71.1% | −2.3 |
| Q4 FY2025 | Dec 31, 2025 | 70.6% | −4.2 |
| Q3 FY2025 | Sep 30, 2025 | 71.8% | −5.1 |
| Q2 FY2025 | Jun 30, 2025 | 71.8% | −6.7 |
| Q1 FY2025 | Mar 31, 2025 | 73.4% | −2.1 |
| Q4 FY2024 | Dec 31, 2024 | 74.8% | −2.6 |
| Q3 FY2024 | Sep 30, 2024 | 76.9% | −1.5 |
| Q2 FY2024 | Jun 30, 2024 | 78.5% | +4.9 |
| Q1 FY2024 | Mar 31, 2024 | 75.5% | +0.3 |
| Q4 FY2023 | Dec 31, 2023 | 77.4% | −0.2 |
| Q3 FY2023 | Sep 30, 2023 | 78.4% | −2.4 |
| Q2 FY2023 | Jun 30, 2023 | 73.6% | −9.7 |
| Q1 FY2023 | Mar 31, 2023 | 75.2% | −8.0 |
| Q4 FY2022 | Dec 31, 2022 | 77.6% | −5.7 |
| Q3 FY2022 | Sep 30, 2022 | 80.9% | −1.3 |
| Q2 FY2022 | Jun 30, 2022 | 83.3% | +5.6 |
| Q1 FY2022 | Mar 31, 2022 | 83.2% | +5.9 |
| Q4 FY2021 | Dec 31, 2021 | 83.2% | +13.2 |
| Q3 FY2021 | Sep 30, 2021 | 82.1% | +16.0 |
| Q2 FY2021 | Jun 30, 2021 | 77.8% | +25.2 |
| Q1 FY2021 | Mar 31, 2021 | 77.3% | +10.9 |
| Q4 FY2020 | Dec 31, 2020 | 70.0% | −1.8 |
| Q3 FY2020 | Sep 30, 2020 | 66.1% | −0.8 |
| Q2 FY2020 | Jun 30, 2020 | 52.6% | −17.2 |
| Q1 FY2020 | Mar 31, 2020 | 66.4% | +2.0 |
| Q4 FY2019 | Dec 31, 2019 | 71.8% | +2.6 |
| Q3 FY2019 | Sep 30, 2019 | 66.9% | −5.3 |
| Q2 FY2019 | Jun 30, 2019 | 69.8% | −3.8 |
| Q1 FY2019 | Mar 31, 2019 | 64.4% | −19.9 |
| Q4 FY2018 | Dec 31, 2018 | 69.2% | +5.3 |
| Q3 FY2018 | Sep 30, 2018 | 72.2% | +13.7 |
| Q2 FY2018 | Jun 30, 2018 | 73.6% | – |
| Q1 FY2018 | Mar 31, 2018 | 84.3% | – |
| Q4 FY2017 | Dec 31, 2017 | 63.9% | – |
| Q3 FY2017 | Sep 30, 2017 | 58.5% | – |
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