Stocks · Energy · Oil & Gas Exploration & Production

SM Energy Company SM

$35.24 +0.51% Close, Oct 2, 2026 · NYSE · Market cap $8.45B

Strong growthStrong trend

Next earnings report: Nov 2, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. Revenue over the last four quarters was $5.51B, up 77.5% from a year earlier, accelerating from 28.5% a quarter earlier.
  2. The diluted share count rose 108.8% in a year.
  3. Operating margin narrowed to 26.3% from 38.3% a year earlier.

PromtFinance scores

Each score is a percentile within the Energy sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.

Growth86Strong

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Top 5%
  • EPS growth (TTM, YoY)Bottom 26%
  • Revenue growth, 3-year CAGRBottom 44%
  • Revenue growth accelerationTop 1%
Quality69Positive

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalTop 50%
  • Gross marginTop 18%
  • Operating marginTop 28%
  • Cash conversion (OCF / net income)Top 31%
  • Accruals (lower is better)Top 39%
  • Net debt / EBITDA (lower is better)Bottom 43%
  • Interest coverBottom 38%
Value57Neutral

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 13%
  • Free-cash-flow yieldBottom 28%
  • EBITDA / enterprise valueTop 8%
  • Sales / enterprise valueBottom 42%
  • P/E vs own 5-year history (lower is better)Bottom 22%
Momentum80Strong

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthTop 29%
  • 6-month returnTop 14%
  • 1-year return vs S&P 500Top 29%
  • Distance from 52-week highTop 40%
  • Trend checklist (0–4)Top 14%
Revisions72Positive

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersTop 38%
  • Consecutive EPS beatsTop 7%
  • Share of analysts rating BuyTop 37%
  • Upside to consensus price targetBottom 21%
Stability33Weak

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Bottom 26%
  • Maximum drawdown, 3 yearsBottom 23%
  • Beta vs S&P 500 (lower is better)Top 25%
  • Net debt / EBITDA (lower is better)Bottom 43%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)28.5%77.5%↑
EPS growth (YoY)-83.9%-45.5%↑
Gross margin40.8%61.5%↑
Operating margin38.3%26.3%↓
FCF margin-48.3%-0.7%↑

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)77.5%28.5%↑Top 5%
EPS growth (TTM, YoY)-45.5%-83.9%↑Bottom 26%
Gross margin61.5%40.8%↑Top 18%
Operating margin26.3%38.3%↓Top 28%
Net margin18.2%26.2%↓—
Free-cash-flow margin-0.7%-48.3%↑—
Return on invested capital6.8%—Top 50%
Revenue growth, 3-year CAGR-1.9%—Bottom 44%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
2.70×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
-9.0%
Stock-based compensation / revenueA cost to shareholders through dilution.
0.9%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
+94.0 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
1.80×
Interest cover (operating income / interest)How many times operating profit covers interest.
2.5×

Shareholder returns

Dividend yield (dividends paid, TTM)
2.14%
Net buyback yield (TTM)
1.16%
Shareholder yield
3.31%
Share count change, 1 year
+108.8%
Share count change, 3-year CAGR
+26.0%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
6
Beats in the last 8 reports
7 of 8
Average EPS surprise, last 4
+14.2%
Average 2-day reaction, last 8
-2.2%
Positive 20 days after report
7 of 8

Analysts

Consensus price target
$38.50
Target vs current price
+9.3%
Analysts with a rating
54
Share rating Buy or Strong Buy
65%
Consensus rating
Buy

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Aug 5, 2026+11.7%-6.5%+4.7%+22.5%—
May 6, 2026+38.4%-8.5%+0.4%+9.9%+4.2%
Feb 25, 2026+0.2%-1.8%+7.3%+35.1%+55.0%
Nov 4, 2025+6.4%-3.4%-4.8%+0.9%+0.6%
Jul 31, 2025+20.0%-0.4%-3.2%+1.1%-22.3%
May 1, 2025+8.6%+3.9%-7.0%+4.4%+26.2%
Feb 19, 2025-4.5%+0.5%-14.3%-21.5%-34.1%
Oct 31, 2024+5.9%-1.2%+3.7%+5.5%-5.8%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Aug 5, 2026$2.19$1.96+11.7%$2.50B
May 6, 2026$1.55$1.12+38.4%$1.48B
Feb 25, 2026$0.83$0.83+0.2%$705.0M
Nov 4, 2025$1.33$1.25+6.4%$811.0M
Jul 31, 2025$1.50$1.25+20.0%$785.1M
May 1, 2025$1.76$1.62+8.6%$839.6M
Feb 19, 2025$1.91$2.00-4.5%$835.9M
Oct 31, 2024$1.62$1.53+5.9%$642.4M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)9.2×5.6×84thTop 13%
P/E (forward)4.7×———
EV / EBITDA4.2×——Top 8%
EV / Sales2.70×——Bottom 42%
Free-cash-flow yield-0.44%——Bottom 28%
Earnings yield10.93%——Top 13%

P/E over the past five years

Range 2.8× – 25.3× since Mar 31, 2022. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
+38.5%
Earnings per share growth (TTM)
-45.5%
Change in P/E multiple
+97.6%

Most of the move came from a change in the valuation multiple.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✓ Price above 50-day average
  • ✓ Price above 200-day average
  • ✓ 50-day average above 200-day
  • ✗ MACD histogram positive

Trend quality

Days above the 50-day average
2
Days above the 200-day average
150
50-day average slope (20 days)
+9.1%
200-day average slope (20 days)
+6.3%
Distance from 50-day average
+1.3%
Distance from 200-day average
+24.2%
RSI (14)
49.4
Relative volume
0.48×

Risk and drawdowns

Volatility, 60 days (annualized)
54.4%
Volatility vs own 5-year history
60th percentile · Normal for this stock
Beta vs S&P 500 (2 years, weekly)
0.22
Correlation with S&P 500
0.06
Current drawdown from 1-year high
-14.7%
Maximum drawdown, 3 years
-66.7%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Jun 7, 2022Jan 7, 2026-67.7%899 daysNot yet recovered
Jun 25, 2021Aug 20, 2021-42.7%39 days29 days (Oct 1, 2021)
Nov 8, 2021Dec 17, 2021-28.1%28 days50 days (Mar 2, 2022)
Oct 8, 2020Oct 28, 2020-24.3%14 days6 days (Nov 5, 2020)
Mar 25, 2022May 12, 2022-22.0%33 days9 days (May 25, 2022)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$8.45B
P/E (TTM)
9.2
EPS, diluted (TTM)
$3.85
Revenue (TTM)
$5.51B
Dividend yield
3.01%
52-week range
$17.45 – $41.56
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$2.60B$3.35B$2.36B$2.67B$3.15B
Gross profit$1.32B$2.12B$1.11B$1.23B$1.00B
Operating income$209.1M$1.58B$986.9M$1.08B$822.0M
Net income$36.2M$1.11B$817.9M$770.3M$648.0M
EPS (diluted)$0.29$8.96$6.86$6.67$5.64
Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026
Revenue$642.4M$835.9M$839.6M$785.1M$811.0M$718.3M$1.48B$2.50B
Net income$240.5M$188.3M$182.3M$201.7M$155.1M$109.0M-$335.0M$1.07B
EPS (diluted)$2.09$1.63$1.59$1.76$1.35$0.95-$2.91$4.46
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$1.16B$1.69B$1.57B$1.78B$2.01B
Capital expenditure-$678.2M-$879.9M-$1.10B-$3.41B-$1.44B
Free cash flow$481.6M$806.5M$475.1M-$1.63B$573.0M
Dividends paid-$2.4M-$19.6M-$71.6M-$85.0M-$92.0M
Net share buybacks$2.6M-$54.2M-$225.0M-$82.9M-$10.0M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$620.0M
Total assets
$18.86B
Total liabilities
$11.04B
Total debt
$7.04B
Net debt
$6.42B
Shareholders’ equity
$7.81B

As of Jun 30, 2026 (filed Aug 6, 2026).

Dividends

Ex-dateAmountPaid
Sep 4, 2026$0.22Sep 21, 2026
Jun 8, 2026$0.22Jun 22, 2026
Mar 9, 2026$0.22Mar 23, 2026
Dec 26, 2025$0.20Jan 9, 2026
Oct 17, 2025$0.20Nov 3, 2025
Jul 18, 2025$0.20Aug 4, 2025
Apr 17, 2025$0.20May 5, 2025
Jan 24, 2025$0.20Feb 3, 2025

Short interest

Shares sold short
13,482,404
Days to cover
3.82
Change vs previous report
+5.3%

FINRA short interest, settlement date Sep 15, 2026.

Stock splits

Apr 1, 2005
2-for-1
Sep 6, 2000
2-for-1