What is SM Energy's pre-tax income?

SM Energy (SM) reported pre-tax income of -$410M in Q1 2026.

How has SM Energy's pre-tax income changed year-over-year?

SM Energy's pre-tax income decreased by 276.7% year-over-year, from $232M to -$410M.

What is the long-term trend for SM Energy's pre-tax income?

Over 4 years (2021 to 2025), SM Energy's pre-tax income has grown at a 105.9% compound annual growth rate (CAGR), from $46.17M to $830M.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

SM Energy SM Pre-Tax Income

Pre-Tax Income at other companies

EOG ResourcesEOG

$2.56B+36.1%

Devon EnergyDVN

$166M-74.3%

FAN

Diamondback EnergyFANG

$176M-90.7%

Antero ResourcesAR

$693.72M+153%

Permian ResourcesPR

$63.88M-87.0%

ConocoPhillipsCOP

$3.36B-24.7%

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

See full

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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

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 pre-tax income?: SM Energy (SM) reported pre-tax income of -$410M in Q1 2026.
How has SM Energy's pre-tax income changed year-over-year?: SM Energy's pre-tax income decreased by 276.7% year-over-year, from $232M to -$410M.
What is the long-term trend for SM Energy's pre-tax income?: Over 4 years (2021 to 2025), SM Energy's pre-tax income has grown at a 105.9% compound annual growth rate (CAGR), from $46.17M to $830M.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.