What is SM Energy's EV / sales?

SM Energy (SM) reported EV / sales of 0.6× in Q4 2025.

How has SM Energy's EV / sales changed year-over-year?

SM Energy's EV / sales decreased by 63.8% year-over-year, from 1.7× to 0.6×.

What is the long-term trend for SM Energy's EV / sales?

Over 5 years (2020 to 2025), SM Energy's EV / sales has grown at a -11.1% compound annual growth rate (CAGR), from 1.1× to 0.6×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

SM Energy SM EV / sales

EV / sales at other companies

EOG ResourcesEOG

3.4×+0.5×

Devon EnergyDVN

2.4×+0.4×

FAN

Diamondback EnergyFANG

4.6×0.0×

Chord EnergyCHRD

1.8×+0.4×

Antero ResourcesAR

3×-0.6×

Range ResourcesRRC

3.1×-0.9×

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

Calculated from SM Energy’s reported figures.

enterprise value/total revenue=0.6×

Based on the most recent quarter.

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 EV / sales?: SM Energy (SM) reported EV / sales of 0.6× in Q4 2025.
How has SM Energy's EV / sales changed year-over-year?: SM Energy's EV / sales decreased by 63.8% year-over-year, from 1.7× to 0.6×.
What is the long-term trend for SM Energy's EV / sales?: Over 5 years (2020 to 2025), SM Energy's EV / sales has grown at a -11.1% compound annual growth rate (CAGR), from 1.1× to 0.6×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.