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SM Energy SM Total debt

Discontinued — last reported Q4 '25

Total debt at other companies

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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 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

Computed from long term debt + current portion long term debt + short term borrowings + operating lease liabilities + finance lease liabilities + financing obligations: $138M.

The official record: SM Energy’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SM Energy's total debt?
SM Energy (SM) reported total debt of $138M in Q4 2025.
How has SM Energy's total debt changed year-over-year?
SM Energy's total debt increased by 111.3% year-over-year, from $65.32M to $138M.
What is the long-term trend for SM Energy's total debt?
Over 5 years (2020 to 2025), SM Energy's total debt has grown at a -22.2% compound annual growth rate (CAGR), from $484.21M to $138M.
What does total debt mean?
Total debt represents the aggregate sum of all interest-bearing financial obligations, including short-term borrowings, the current portion of long-term debt, and long-term debt instruments. It also encompasses capitalized lease liabilities and other debt-like financing arrangements that require fixed repayment schedules. This metric serves as a comprehensive indicator of a company's total financial leverage and its reliance on external capital providers.