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SM Energy SM Return on invested capital

Return on invested capital at other companies

EOG Resources logo
EOG ResourcesEOG
17.6%-4.0pp
Devon Energy logo
Devon EnergyDVN
9.6%-3.9pp
FAN
Diamondback EnergyFANG
8.4%-0.6pp
Chord Energy logo
Chord EnergyCHRD
2.1%-13.9pp
Antero Resources logo
Antero ResourcesAR
8.6%+6.6pp
Permian Resources logo
Permian ResourcesPR
8.2%-3.8pp

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

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 return on invested capital?
SM Energy (SM) reported return on invested capital of 17.6% in Q4 2025.
How has SM Energy's return on invested capital changed year-over-year?
SM Energy's return on invested capital decreased by 24.8% year-over-year, from 23.4% to 17.6%.
What is the long-term trend for SM Energy's return on invested capital?
Over 5 years (2020 to 2025), SM Energy's return on invested capital has grown at a -8.3% compound annual growth rate (CAGR), from -27.1% to 17.6%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.