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SM Energy SM Gross margin

Gross margin at other companies

Chord Energy logo
Chord EnergyCHRD
74.2%
Range Resources logo
Range ResourcesRRC
94.6%+1.4pp
ConocoPhillips logo
ConocoPhillipsCOP
61.5%-2.2pp
EQT Corporation logo
EQT CorporationEQT
84.9%+16.1pp
Chevron logo
ChevronCVX
43.2%+2.8pp
Energy Transfer logo
Energy TransferET
25.2%-0.6pp

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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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×
Current ratio0.4×-0.2×

Where this comes from

Calculated from SM Energy’s reported figures.

Based on trailing twelve months.

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 gross margin?
SM Energy (SM) reported gross margin of 71.3% in Q1 2026.
How has SM Energy's gross margin changed year-over-year?
SM Energy's gross margin decreased by 5.8% year-over-year, from 75.6% to 71.3%.
What is the long-term trend for SM Energy's gross margin?
Over 5 years (2020 to 2025), SM Energy's gross margin has grown at a 2.0% compound annual growth rate (CAGR), from 65.3% to 71.9%.
What does gross margin mean?
Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.