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SM Energy SM Unproved oil and gas properties, valuation allowance

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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×
Current ratio0.4×-0.2×

Where this comes from

Reported directly by SM Energy in its filing.

Tagged under the XBRL concept sm:UnprovedOilAndGasPropertiesValuationAllowance.

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 unproved oil and gas properties, valuation allowance?
SM Energy (SM) reported unproved oil and gas properties, valuation allowance of $12M in Q1 2026.
How has SM Energy's unproved oil and gas properties, valuation allowance changed year-over-year?
SM Energy's unproved oil and gas properties, valuation allowance decreased by 63.3% year-over-year, from $32.68M to $12M.
What is the long-term trend for SM Energy's unproved oil and gas properties, valuation allowance?
Over 4 years (2021 to 2025), SM Energy's unproved oil and gas properties, valuation allowance has grown at a -23.4% compound annual growth rate (CAGR), from $34.93M to $12M.
What does unproved oil and gas properties, valuation allowance mean?
This represents the valuation allowance or impairment reserve established against unproved oil and gas properties that may not be fully recoverable. It reflects management's assessment of the risk associated with exploration acreage that has not yet yielded proven reserves. An increasing allowance suggests potential impairment risks or lower confidence in the economic viability of specific leaseholds.