SM on NYSE
Logo: sm-energy.com4
Company engaged in hydrocarbon exploration headquartered in Denver, Colorado
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 18, 2026.
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SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.3
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue by product, business segment and region, as the company reports it to the SEC.
Crude Oil brought in 82% of the revenue SM Energy broke down this way in fiscal 2025.
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Crude Oil | $1.8B | $2.2B | $2.6B |
| Natural Gas | $328.0M | $249.0M | $353.0M |
| Natural Gas Liquids (NGL) | $222.0M | $235.0M | $224.0M |
Midland Basin brought in 44% of the revenue SM Energy broke down this way in fiscal 2025.
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Midland Basin | $1.5B | $1.6B | $1.4B |
| South Texas | $840.0M | $900.0M | $891.0M |
| Uinta Basin | $204.0M | $875.0M |
Out of $3.2B in revenue.7
Out of $2.0B of cash from operations.7
Every line of the income statement in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Oil, gas, and NGL production revenue | $3.1B | $2.7B | $2.4B |
| Other operating income | $16.0M | $19.0M | $10.0M |
| Total operating revenues and other income | $3.2B | $2.7B | $2.4B |
| Oil, gas, and NGL production expense | $885.0M | $637.0M | $564.0M |
| Depletion, depreciation, and amortization | $1.2B | $809.0M | $690.0M |
| Exploration | $57.0M | $64.0M | $59.0M |
| General and administrative | $161.0M | $138.0M | $121.0M |
| Net derivative gain | -$178.0M | -$50.0M | -$68.0M |
| Other operating expense | $22.0M | $16.0M | $21.0M |
| Total operating expenses | $2.2B | $1.6B | $1.4B |
| Income from operations | $1.0B | $1.1B | $987.0M |
| Interest expense | -$173.0M | -$141.0M | -$92.0M |
| Interest income | $3.0M | $32.0M | $20.0M |
| Other non-operating expense | $0 | -$1.0M | -$1.0M |
| Income before income taxes | $830.0M | $966.0M | $914.0M |
| Income tax expense | -$182.0M | -$196.0M | -$96.0M |
| Net income | $648.0M | $770.0M | $818.0M |
| Basic weighted-average common shares outstanding | 115.0M shares | 115.0M shares | 119.0M shares |
| Diluted weighted-average common shares outstanding | 115.0M shares | 116.0M shares | 119.0M shares |
| Basic net income per common share | $5.65 | $6.71 | $6.89 |
| Diluted net income per common share | $5.64 | $6.67 | $6.86 |
Every line of the balance sheet in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $368.0M | $0 | |
| Accounts receivable | $331.0M | $361.0M | |
| Derivative assets | $83.0M | $49.0M | |
| Prepaid expenses and other | $29.0M | $25.0M | |
| Total current assets | $811.0M | $435.0M | |
| Proved oil and gas properties | $16.0B | $14.3B | |
| Accumulated depletion, depreciation, and amortization | -$8.8B | -$7.6B | |
| Unproved oil and gas properties | $460.0M | $765.0M | |
| Wells in progress | $458.0M | $482.0M | |
| Other property and equipment, net of accumulated depreciation of $63 and $62, respectively | $65.0M | $48.0M | |
| Total property and equipment, net | $8.2B | $8.0B | |
| Derivative assets | $6.0M | $4.0M | |
| Other noncurrent assets | $234.0M | $145.0M | |
| Total noncurrent assets | $240.0M | $149.0M | |
| Total assets | $9.3B | $8.6B | |
| Accounts payable and accrued expenses | $690.0M | $760.0M | |
| Senior Notes, net | $419.0M | $0 | |
| Derivative liabilities | $2.0M | $7.0M | |
| Other current liabilities | $58.0M | $22.0M | |
| Total current liabilities | $1.2B | $790.0M | |
| Revolving credit facility | $0 | $69.0M | |
| Senior Notes, net | $2.3B | $2.7B | |
| Asset retirement obligations | $150.0M | $145.0M | |
| Net deferred tax liabilities | $724.0M | $545.0M | |
| Derivative liabilities | $2.0M | $7.0M | |
| Other noncurrent liabilities | $102.0M | $75.0M | |
| Total noncurrent liabilities | $3.3B | $3.5B | |
| Common stock, $0.01 par value - authorized: 200,000,000 shares; issued and outstanding: 114,630,905 and 114,461,934 shares, respectively | $1.0M | $1.0M | |
| Additional paid-in capital | $1.5B | $1.5B | |
| Retained earnings | $3.3B | $2.7B | |
| Accumulated other comprehensive income (loss) | $1.0M | -$1.0M | |
| Total stockholders equity | $4.8B | $4.2B | $3.6B |
| Total liabilities and stockholders equity | $9.3B | $8.6B | |
| Unproved oil and gas properties, net of valuation allowance | $12.0M | $33.0M | |
| Other property and equipment, net of accumulated depreciation | $63.0M | $62.0M | |
| Common Stock, par value per share | $0.01 | $0.01 | |
| Common Stock, shares authorized | 200.0M shares | 200.0M shares | |
| Common Stock, shares issued | 114.6M shares | 114.5M shares | |
| Common Stock, shares outstanding | 114.6M shares | 114.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $648.0M | $770.0M | $818.0M |
| Depletion, depreciation, and amortization | $1.2B | $809.0M | $690.0M |
| Stock-based compensation expense | $29.0M | $25.0M | $20.0M |
| Net derivative gain | -$178.0M | -$50.0M | -$68.0M |
| Net derivative settlement gain | $132.0M | $69.0M | $27.0M |
| Amortization of deferred financing costs | $10.0M | $7.0M | $5.0M |
| Deferred income taxes | $178.0M | $175.0M | $88.0M |
| Other, net | -$29.0M | -$35.0M | -$2.0M |
| Accounts receivable | $30.0M | -$86.0M | -$10.0M |
| Prepaid expenses and other | $1.0M | -$13.0M | -$2.0M |
| Accounts payable and accrued expenses | -$17.0M | $109.0M | $8.0M |
| Net cash provided by operating activities | $2.0B | $1.8B | $1.6B |
| Capital expenditures | -$1.4B | -$1.3B | -$989.0M |
| Acquisition of proved and unproved oil and gas properties | -$34.0M | -$2.1B | -$110.0M |
| Other, net | $4.0M | $7.0M | $1.0M |
| Net cash used in investing activities | -$1.5B | -$3.4B | -$1.1B |
| Proceeds from revolving credit facility | $1.6B | $1.0B | $0 |
| Repayment of revolving credit facility | -$1.6B | -$950.0M | $0 |
| Net proceeds from Senior Notes | $0 | $1.5B | $0 |
| Cash paid to repurchase Senior Notes | $0 | $349.0M | $0 |
| Repurchase of common stock | -$13.0M | -$86.0M | -$228.0M |
| Dividends paid | -$92.0M | -$85.0M | -$72.0M |
| Net proceeds from sale of common stock | $3.0M | $3.0M | $3.0M |
| Other, net | -$5.0M | -$20.0M | -$8.0M |
| Net cash provided by (used in) financing activities | -$175.0M | $1.0B | -$305.0M |
| Net change in cash, cash equivalents, and restricted cash | $368.0M | -$616.0M | $171.0M |
| Cash paid for interest, net of capitalized interest (1) | -$166.0M | -$88.0M | -$87.0M |
| Changes in capital expenditure accruals | -$39.0M | -$24.0M | $81.0M |
| Debt Related Commitment Fees and Debt Issuance Costs | $9.0M |
The company was founded in 1908 as the St. Mary Parish Land Company and was incorporated in 1915. In 1992, the company went public via an initial public offering. In May 2010, the company changed its name from St. Mary Land & Exploration Company to SM Energy.
From Wikipedia’s article on SM Energy, shared under CC BY-SA 4.0.6
Who has led SM Energy, and when. Pick a name to see everywhere that person has worked.
Listed on Wikidata.1
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
The numbers on this page point here. Each one links to the record it came from.