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SM Energy SM Business Segments — Net derivative loss

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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 us-gaap:GainLossOnDerivativeInstrumentsNetPretax.

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 business segments — net derivative loss?
SM Energy (SM) reported business segments — net derivative loss of $697M in Q1 2026.
How has SM Energy's business segments — net derivative loss changed year-over-year?
SM Energy's business segments — net derivative loss increased by 4000.0% year-over-year, from $17M to $697M.
What is the long-term trend for SM Energy's business segments — net derivative loss?
Over 2 years (2022 to 2025), SM Energy's business segments — net derivative loss has grown at a -31.0% compound annual growth rate (CAGR), from $374.01M to -$178.22M.
What does business segments — net derivative loss mean?
Represents the realized and unrealized losses resulting from financial derivative instruments used to hedge commodity price volatility. This metric is critical for understanding the impact of risk management strategies on the segment's reported financial results.