What is SM Energy's acquisitions?

SM Energy (SM) reported acquisitions of $49M in Q1 2026.

What does acquisitions mean?

Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

SM Energy SM Acquisitions

Acquisitions at other companies

EQT CorporationEQT

$0-100%

MPLXMPLX

-$14M-106%

Energy TransferET

$0—

Williams CompaniesWMB

$1M-99.9%

Chord EnergyCHRD

——

Antero ResourcesAR

——

Other financials

Income statement

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Revenue$1.5B+75.0%

Gross profit$1.1B+69.5%

Operating income-$298.0M-208%

Net income-$335.0M-284%

EPS (diluted)-$1.68-206%

Balance sheet

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Cash & equivalents$449.0M+831,381%

Total debt$138.0M+111%

Total equity$6.9B+55.9%

Total assets$19.1B+118%

Cash flow

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Operating cash flow$640.0M+32.5%

CapEx$12.8M—

Free cash flow$500.6M+43.7%

Valuation

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Market cap$6.51B+117%

P/E49.8×+46.1×

P/S1.7×+0.7×

Profitability

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Gross margin71.3%-4.4pp

Operating margin11.2%-28.2pp

Net margin3.5%-24.1pp

FCF margin50.1%+2.8pp

Returns & leverage

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Return on equity2.3%-17.9pp

Debt / equity0×0.0×

Current ratio0.4×-0.2×

Where this comes from

Reported directly by SM Energy in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The official record: SM Energy’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SM Energy's acquisitions?: SM Energy (SM) reported acquisitions of $49M in Q1 2026.
What does acquisitions mean?: Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.