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SM Energy USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Oil & gas

Geography: Permian Basin (US), Eagle Ford (US)

COMM_SM

Price chart

31.15 USDDay -0.42%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
31.15 USD · -0.42%
Market cap
3.6 bn USD

Growth

Δ revenue y/y
75.0%
Δ EBITDA y/y
-75.5%

Multiples

P/E (LTM)
27.3x
3y avg: 4.9x
P/B (FY)
0.7x
P/E (ann.)
<0
EV/EBITDA (LTM)
6.2x
3y avg: 1.8x
EV/EBITDA (ann.)
20.7x

Cash return

Dividend yield
3.3%
FCF yield (LTM)
-130.0%

Liquidity

Daily turnover (listing)
136.9 mln USD

Shares: yahoo_fundamentals_timeseries/SM

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 3 / Warn: 8 / Err: 5 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 1
2023-06-30 Q2⚠Warn 1
2023-09-30 Q3⚠Warn 1
2023-12-31 FY✗Errors 2Warn 1
2023-12-31 Q4✓OK
2024-03-31 Q1⚠Warn 1
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 1
2024-12-31 FY✗Errors 1Warn 2
2024-12-31 Q4✓OK
2025-03-31 Q1✗Errors 1Warn 1
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY✗Errors 1Warn 2
2025-12-31 Q4✓OK
2026-03-31 Q1✗Errors 4Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK1479.0
y/y 75.0%
-298.0
y/y -208.0%
432.0
y/y 60.0%
134.0
y/y -75.5%
-335.0
y/y -284.1%
640.0-628.019144.0
y/y 117.9%
6868.0
y/y 55.9%
-22.9%7527.0Link
2025-12-31Q4 2025 (3M)OK704.5
y/y -17.3%
182.6
y/y -36.4%
318.6
y/y 22.4%
501.2
y/y -8.4%
109.2
y/y -41.9%
451.9-224.29253.0
y/y 7.9%
4810.0
y/y 13.5%
13.6%-310.0Link
2025-09-30Q3 2025 (3M)OK811.6
y/y 26.1%
246.5
y/y -25.5%
325.4
y/y 60.3%
571.9
y/y 7.1%
155.1
y/y -35.5%
505.0-404.89089.5
y/y 13.2%
4713.1
y/y 16.0%
4.4%2550.5Link
2025-06-30Q2 2025 (3M)OK792.9
y/y 25.0%
294.9
y/y 5.6%
293.0
y/y 63.1%
587.9
y/y 28.1%
201.7
y/y -4.1%
571.1-410.08993.2
y/y 35.1%
4590.1
y/y 19.4%
17.9%2609.3Link
2025-03-31Q1 2025 (3M)OK845.0
y/y 50.9%
276.0
y/y 54.7%
270.0
y/y 62.5%
546.0
y/y 58.5%
182.0
y/y 38.7%
483.0-429.08787.7
y/y 37.3%
4404.0
y/y 19.1%
16.8%2709.5Link
2024-12-31Q4 2024 (3M)OK852.0
y/y 39.9%
287.3
y/y -7.3%
260.2
y/y 38.0%
547.5
y/y 9.8%
188.0
y/y -24.0%
578.4-2449.18577.0
y/y 34.4%
4237.0
y/y 17.2%
18.6%91.0Link
2024-09-30Q3 2024 (3M)OK643.6
y/y 0.4%
331.0
y/y 69.2%
202.9
y/y 7.2%
533.9
y/y 38.7%
240.5
y/y 8.2%
452.3-302.98027.8
y/y 32.1%
4061.5
y/y 19.3%
8.1%971.4Link
2024-06-30Q2 2024 (3M)OK634.6
y/y 15.2%
279.4
y/y 33.5%
179.7
y/y 13.8%
459.0
y/y 25.0%
210.3
y/y 40.3%
476.4-322.76657.0
y/y 11.1%
3843.9
y/y 16.5%
22.3%1089.0Link
2024-03-31Q1 2024 (3M)OK559.9
y/y -2.4%
178.4
y/y -34.4%
166.2
y/y 7.8%
344.6
y/y -19.2%
131.2
y/y -33.9%
276.0-332.36398.5
y/y 9.0%
3698.3
y/y 14.5%
14.3%1069.9Link
2023-12-31Q4 2023 (3M)OK608.8
y/y —
310.0
y/y —
188.6
y/y —
498.6
y/y —
247.2
y/y —
476.1-223.66380.0
y/y —
3616.0
y/y —
23.3%-600.7Link
2023-09-30Q3 2023 (3M)OK640.9
y/y —
195.6
y/y —
189.4
y/y —
385.0
y/y —
222.3
y/y —
383.0-237.26078.6
y/y —
3404.3
y/y —
8.8%1172.6Link
2023-06-30Q2 2023 (3M)OK550.8
y/y —
209.4
y/y —
157.8
y/y —
367.2
y/y —
149.9
y/y —
383.3-397.85992.6
y/y —
3298.5
y/y —
18.4%1195.5Link
2023-03-31Q1 2023 (3M)OK573.5
y/y —
272.0
y/y —
154.2
y/y —
426.2
y/y —
198.6
y/y —
331.6-240.45870.2
y/y —
3229.8
y/y —
—1095.1Link
Data quality — review suggested

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
678.30 mln boe
2024
Reserve life (R/P)
12.0 yrs
reserves ÷ annual output
Annual production
56.50 mln boe
2025

Production, mln boe

64.20201555.30201644.50201743.90201848.30201946.40202051.40202153202255.50202362.40202456.502025

Proved reserves

YearReserves, mln boe
2024678.30
2023604.90
2022537.40
2021492
2020404.60
2019462
2018503.40
2017468.10
2016395.80

Production

YearProduction, mln boeper day
202556.50
−9.5%		154 795
202462.40
+12.4%		170 959
202355.50
+4.7%		152 055
202253
+3.1%		145 205
202151.40
+10.8%		140 822
202046.40
−3.9%		127 123
201948.30
+10.0%		132 329
201843.90
−1.3%		120 274
201744.50
−19.5%		121 918

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-2 000-1 500-1 000-50005002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

02 0004 0006 0008 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — WTI Crude Oil

Current 90spot vs LTM +38%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -132.3%

Main driver: WTI Crude Oil +38% vs LTM; revenue ×1.21 vs costs ×1.05; EBITDA 1 724→2 166; at 2.6× EV/EBITDA → -132%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
WTI Crude Oil (rev)+60%89.7365.1476.10+38%+17%
Henry Hub Gas (rev)+30%3.153.533.09-11%-12%
Propane (Texas, USD/gallon) (rev)+10%0.800.690.76+15%+10%
WTI Crude Oil (cost)-3%89.7365.1476.10+38%+17%
Henry Hub Gas (cost)-1%3.153.533.09-11%-12%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue3 789
LTM EBITDA1 724
LTM cash costs (revenue − EBITDA)2 065
2 · Revenue projection
Revenue multiplier — spot×1.209 (+21%)
= Spot revenue4 581
Revenue multiplier — 3y price×1.074 (+7%)
= 3-year-price revenue4 069
3 · Costs projection
Cost multiplier — spot×1.049 (+5%)
= Spot cash costs2 165
Cost multiplier — 3y price×1.042 (+4%)
= 3-year-price cash costs2 152
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 415
= 3-year-price EBITDA1 917
Conservative EBITDA = min(spot, avg)2 166
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)2.6x
Target EV = EV/EBITDA × conservative EBITDA5 535
Net debt7 527
Target market cap = EV − net debt-1 992
Current market cap3 938

Upside = target market cap ÷ current − 1 = -132.3%

Life of mine: 9 yrs — before haircut -150.6%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2551520+6.0%367334+10.1%
2023 Q3641557+15.0%385406-5.2%
2023 Q4609572+6.4%419372+12.5%
2024 Q1560560-0.0%345362-4.7%
2024 Q2635590+7.5%459374+22.8%
2024 Q3644572+12.5%534359+48.9%
2024 Q4852624+36.5%568448+26.9%
2025 Q1845780+8.3%546578-5.6%
2025 Q2793739+7.2%588517+13.6%
2025 Q3812731+11.0%572502+13.9%
2025 Q4705798-11.7%430535-19.7%
2026 Q11 479816+81.2%134555-75.9%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 4.9x · target 3-yr avg 2.6x · LTM avg 3.1x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Commodity — production, reserves & revenue / cost mix

FY blocks below combine SEC XBRL tags (revenue & selected expense lines), plus production / reserves notes sourced to Form 10-K or company filings where cited.

Production and proved reserves in the FY blocks are keyed from supplemental 10-K tables after each filing is wired in. Automated SEC revenue/expense tags for the newest FY often appear before operational volumes and reserves for that same year.

Production & resources

Net production (Mboe/d)

Prod. CAGR (2 yr): +16.3%

206.8192.1177.4162.7148.0202320242025Net production (Mboe/d)

Proved reserves (MMboe)

Reserves CAGR (2 yr): +16.0% · Reserves life (R/P): 8.9 yr

673.0629.8586.5543.2500.0202320242025Proved reserves (MMboe)

Proved reserves & production rates by fiscal year

FY endCrude oil equivalent (net, Mboe/d)Proved reserves (net, MMboe)Proved developed (net, MMboe)Proved undeveloped (net, MMboe)
2025-12-31206.8673——
2024-12-31148520——
2023-12-31153500——

2025-12-31 · FY

Production & proved reserves

FY2025 net production and year-end proved reserves (US_EP curated patch). R/P 8.9 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)206.8
Proved reserves (net, MMboe)673

Primary SEC filing for this FY (HTML)

2024-12-31 · FY

Production & proved reserves

FY2024 net production and year-end proved reserves (US_EP curated patch). R/P 9.6 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)148
Proved reserves (net, MMboe)520

Primary SEC filing for this FY (HTML)

2023-12-31 · FY

Production & proved reserves

FY2023 net production and year-end proved reserves (US_EP curated patch). R/P 9.0 yr.

Line itemAmount
Crude oil equivalent (net, Mboe/d)153
Proved reserves (net, MMboe)500

Primary SEC filing for this FY (HTML)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-080.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2026-03-090.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2025-12-260.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2025-10-170.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2025-07-180.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2025-04-170.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2025-01-240.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2024-10-250.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2024-07-190.18 USDEx-dividend: 0.18 USD per sharePaidYahoo Finance (ex-div)
2024-04-180.18 USDEx-dividend: 0.18 USD per sharePaidYahoo Finance (ex-div)
2024-01-180.18 USDEx-dividend: 0.18 USD per sharePaidYahoo Finance (ex-div)
2023-10-230.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2023-07-200.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2023-04-200.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2023-01-190.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-10-240.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-04-210.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)
2021-10-220.01 USDEx-dividend: 0.01 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)