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SM Energy SM Q4 2025 Annual earnings

Reported February 25, 2026 · After market close

Revenue$705.0MMiss by $59.6M
EPS$0.83Beat by $0.00
Revenue estimate$764.6M
EPS estimate$0.83

Next report

Nov 2, 2026 (in a month)
Revenue estimate$1.9B
EPS estimate$1.77

Financials

Q4 2025

Income statement

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Revenue$704.9M-17.3%
Gross profit$498.0M-21.9%
Operating income$182.3M-36.5%
Net income$109.0M-42.0%
EPS (diluted)$0.95-42.1%

Balance sheet

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Cash & equivalents$368.0M—
Total debt$138.0M+111%
Total equity$4.8B+13.5%
Total assets$9.3B+7.9%

Cash flow

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Operating cash flow$451.9M-21.9%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$2.14B-51.7%
Enterprise value$1.91B-57.5%
P/E3.3×-2.5×
P/S0.7×-1.0×

Profitability

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Gross margin71.9%-4.4pp
Operating margin31.7%-8.3pp
Net margin20.5%-8.1pp

Returns & leverage

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Return on equity14.3%-5.3pp
Debt / equity0×0.0×
Current ratio0.7×+0.1×

Segments

By product

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Crude Oil$580.0M—
Natural Gas$70.7M—
Natural Gas Liquids (NGL)$51.5M—

By geography

See full
South Texas$211.5M-13.9%
Uinta Basin$197.7M-3.1%

By segment

See full
E&P Segment$704.9M-17.3%

FAQ

When did SM Energy report Q4 2025 earnings?
SM Energy (SM) reported Q4 2025 earnings on February 25, 2026 after market close.
What were SM Energy's Q4 2025 revenue and EPS?
SM Energy reported revenue of $705.0M and eps of $0.83 for Q4 2025.
Did SM Energy beat estimates in Q4 2025?
Revenue missed the consensus estimate of $764.6M by $59.6M. EPS beat the consensus estimate of $0.83 by $0.00.
How did SM Energy's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 15.7% from $835.9M a year earlier and eps declined 56.5% from $1.91.
Where can I find SM Energy's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000893538-26-000029) and the 10-K periodic report (0000893538-26-000032) directly on SEC EDGAR. The filing index links above go to sec.gov.