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SM Energy SM Operating margin

Operating margin at other companies

EOG Resources logo
EOG ResourcesEOG
32.9%+0.8pp
FAN
Diamondback EnergyFANG
35.5%-8.2pp
Chord Energy logo
Chord EnergyCHRD
19%+10.0pp
MGY
Magnolia Oil & Gas CorporationMGY
38%+0.7pp
Murphy Oil logo
Murphy OilMUR
18.6%+0.6pp
Permian Resources logo
Permian ResourcesPR
28.1%-6.6pp

Other financials

Income statement

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Revenue$2.5B+215%
Gross profit$1.9B+242%
Operating income$1.5B+407%
Net income$1.1B+430%
EPS (diluted)$4.46+153%

Balance sheet

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Cash & equivalents$620.0M+509%
Total debt$138.0M+111%
Total equity$7.8B+70.2%
Total assets$18.9B+110%

Cash flow

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Operating cash flow$1.1B+93.2%
CapEx$12.8M
Free cash flow$500.6M+43.7%

Valuation

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Market cap$6.96B+126%
P/E+3.2×
P/S1.3×+0.3×

Profitability

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Gross margin74.2%+0.1pp
Net margin18.2%-7.7pp
FCF margin50.1%+2.8pp

Returns & leverage

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Return on equity16.1%-3.1pp
Debt / equity0.0×
Current ratio0.6×-0.1×

Where this comes from

Calculated from SM Energy’s reported figures.

Based on trailing twelve months.

The source filing: SM Energy’s 10-Q, filed August 6, 2026. Open the filing →

Filed
Aug 6, 2026, 8:55 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000893538-26-000121

FAQ

What is SM Energy's operating margin?
SM Energy (SM) reported operating margin of 29.6% in Q2 2026.
How has SM Energy's operating margin changed year-over-year?
SM Energy's operating margin decreased by 22.0% year-over-year, from 38% to 29.6%.
What is the long-term trend for SM Energy's operating margin?
Over 5 years (2020 to 2025), SM Energy's operating margin has grown at a -19.7% compound annual growth rate (CAGR), from -94.9% to 31.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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