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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 operating margin

Operating margin is operating income as a percentage of revenue.

SM Energy's operating margin for the twelve months ending Sep 30, 2026 was 23.6%. For fiscal 2025 it was 31.7%, against 40.0% the year before. The highest annual figure on record is 47.0% in fiscal 2022.

Annual operating margin

PeriodPeriod endValueChange (pts)
FY2025Dec 31, 202531.7%−8.3
FY2024Dec 31, 202440.0%−1.6
FY2023Dec 31, 202341.6%−5.5
FY2022Dec 31, 202247.0%+39.1
FY2021Dec 31, 20218.0%+102.8
FY2020Dec 31, 2020-94.9%−90.5
FY2019Dec 31, 2019-4.4%−44.9
FY2018Dec 31, 201840.5%+55.0
FY2017Dec 31, 2017-14.5%+72.3
FY2016Dec 31, 2016-86.8%−49.7
FY2015Dec 31, 2015-37.2%−83.4
FY2014Dec 31, 201446.2%+30.2
FY2013Dec 31, 201316.1%+17.4
FY2012Dec 31, 2012-1.3%−25.3
FY2011Dec 31, 201124.0%−7.0
FY2010Dec 31, 201031.0%+46.7
FY2009Dec 31, 2009-15.7%−28.9
FY2008Dec 31, 200813.2%–

Quarterly operating margin

Change is against the same quarter a year earlier.

PeriodPeriod endValueChange (pts)
Q3 FY2026Sep 30, 202610.9%−19.4
Q2 FY2026Jun 30, 202659.8%+22.6
Q1 FY2026Mar 31, 2026-20.1%−52.8
Q4 FY2025Dec 31, 202525.8%−7.9
Q3 FY2025Sep 30, 202530.3%−21.1
Q2 FY2025Jun 30, 202537.2%−6.8
Q1 FY2025Mar 31, 202532.7%+0.8
Q4 FY2024Dec 31, 202433.7%−17.2
Q3 FY2024Sep 30, 202451.4%+20.9
Q2 FY2024Jun 30, 202444.0%+6.0
Q1 FY2024Mar 31, 202431.9%−15.6
Q4 FY2023Dec 31, 202350.9%−0.1
Q3 FY2023Sep 30, 202330.5%−44.0
Q2 FY2023Jun 30, 202338.0%−13.7
Q1 FY2023Mar 31, 202347.4%+35.6
Q4 FY2022Dec 31, 202251.0%−4.4
Q3 FY2022Sep 30, 202274.5%+57.9
Q2 FY2022Jun 30, 202251.7%+83.7
Q1 FY2022Mar 31, 202211.8%+59.4
Q4 FY2021Dec 31, 202155.5%+109.2
Q3 FY2021Sep 30, 202116.6%+53.3
Q2 FY2021Jun 30, 2021-32.0%+152.3
Q1 FY2021Mar 31, 2021-47.5%+87.7
Q4 FY2020Dec 31, 2020-53.7%−34.2
Q3 FY2020Sep 30, 2020-36.7%−62.2
Q2 FY2020Jun 30, 2020-184.3%−209.9
Q1 FY2020Mar 31, 2020-135.2%−80.9
Q4 FY2019Dec 31, 2019-19.5%−128.6
Q3 FY2019Sep 30, 201925.5%+49.1
Q2 FY2019Jun 30, 201925.6%+12.9
Q1 FY2019Mar 31, 2019-54.4%−114.0
Q4 FY2018Dec 31, 2018109.0%+137.6
Q3 FY2018Sep 30, 2018-23.7%+5.2
Q2 FY2018Jun 30, 201812.6%+134.7
Q1 FY2018Mar 31, 201859.7%+15.1
Q4 FY2017Dec 31, 2017-28.6%+45.7
Q3 FY2017Sep 30, 2017-28.8%–
Q2 FY2017Jun 30, 2017-122.0%–
Q1 FY2017Mar 31, 201744.6%–
Q4 FY2016Dec 31, 2016-74.3%–

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