SMCNYSENatural Gas TransmissionFiscal year ends December 31
Summit Midstream Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$30.23−0.47 (-1.53%)
Close on Oct 19, 2026
- Market cap
- $424.58M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
73.5%
Net margin
-1.1%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +30.8% | +15.0% | – | +3.4% | |
| Gross profit | +31.3% | +12.1% | – | – | |
| Free cash flow | +446.0% | -13.3% | -22.1% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -1.2% | |
| Return on assets | -1.3% | 7.0% | -0.3% | |
| Current ratio | 1.52 | 1.20 | 0.55 | |
| Debt to equity | – | – | 1.91 | |
| Capex to revenue | 35.5% | – | 15.8% | |
| Diluted shares | – | – | 12M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Summit Midstream generated $586.12M from operations and spent $267.06M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$586.12M
Used
$267.06M
Capital expenditure$267.06M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1.1%
×Asset turnover0.24×
×Equity multiplier4.68×
=Return on equity, FY2025-1.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1.1% | 0.24× | 4.68× | -1.2% |
| FY2024 | -28.4% | 0.18× | 4.09× | -20.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$5.94M
- Cash generatingOperating cash flow above zero$133.60M
- Return on assets improvedROA up on the prior year-4.9% → -0.3%
- Earnings backed by cashOperating cash flow above net income$133.60M vs -$5.94M
- Less leverageLong-term debt to assets fell41.4% → 42.9%
- Better liquidityCurrent ratio rose0.68 → 0.55
- No dilutionShare count did not rise11M → 12M
- Gross margin improvedGross margin up on the prior year73.23% → 73.47%
- More efficientAsset turnover rose0.17 → 0.24