SM Energy (SM) Financials

$21.96 +0.29 (+1.34%)

As of 03:59 PM Eastern

Annual Income Statements for SM Energy

This table shows SM Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-448	-758	-161	508	-187	-765	36	1,112	818	770
Consolidated Net Income / (Loss)	-448	-758	-161	508	-187	-765	36	1,112	818	770
Net Income / (Loss) Continuing Operations	-448	-758	-161	508	-187	-765	36	1,112	818	770
Total Pre-Tax Income	-723	-1,202	-344	652	-231	-957	46	1,396	914	966
Total Operating Income	-579	-1,057	-164	836	-70	-1,069	209	1,579	987	1,076
Total Gross Profit	833	620	621	2,067	1,089	735	2,117	2,738	1,810	2,053
Total Revenue	1,557	1,217	1,129	2,067	1,590	1,127	2,623	3,359	2,374	2,690
Operating Revenue	1,543	1,216	1,123	2,063	1,586	1,126	2,598	3,346	2,364	2,671
Other Revenue	14	1.95	6.62	3.80	4.36	0.49	25	13	10.00	19
Total Cost of Revenue	724	598	508	0.00	501	391	505	621	564	637
Operating Cost of Revenue	724	598	508	-	501	391	505	621	564	637
Total Operating Expenses	1,412	1,677	785	1,231	1,159	1,804	1,908	1,158	823	978
Selling, General & Admin Expense	158	125	117	117	133	99	112	115	121	138
Exploration Expense	121	65	55	55	52	41	39	55	59	64
Depreciation Expense	921	791	557	665	824	785	774	604	690	809
Other Operating Expenses / (Income)	-384	261	40	-144	117	-137	948	385	-48	-34
Total Other Income / (Expense), net	-144	-145	-180	-185	-161	112	-163	-184	-73	-109
Interest Expense	145	143	179	188	159	-116	162	188	92	141
Interest & Investment Income	-	-	-	-	-	-	1.72	5.77	20	32
Other Income / (Expense), net	0.65	-1.91	-0.80	3.09	-1.97	-3.94	-2.18	-1.53	-0.93	-0.23
Income Tax Expense	-275	-444	-183	143	-44	-192	9.94	284	96	196
Basic Earnings per Share	($6.61)	($9.90)	($1.44)	$4.54	($1.66)	($6.72)	$0.30	$9.09	$6.89	$6.71
Weighted Average Basic Shares Outstanding	67.72M	76.57M	111.43M	111.91M	112.54M	113.73M	119.04M	122.35M	118.68M	114.76M
Diluted Earnings per Share	($6.61)	($9.90)	($1.44)	$4.48	($1.66)	($6.72)	$0.29	$8.96	$6.86	$6.67
Weighted Average Diluted Shares Outstanding	67.72M	76.57M	111.43M	113.50M	112.54M	113.73M	123.69M	124.08M	119.24M	115.53M
Weighted Average Basic & Diluted Shares Outstanding	67.70M	76.50M	111.70M	112M	112.99M	114.74M	121.86M	121.93M	115.75M	114.46M
Cash Dividends to Common per Share	$0.10	$0.10	$0.10	$0.10	$0.10	$0.02	$0.02	$0.31	$0.63	$0.76

This table shows SM Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	481	258	199	150	222	247	131	210	241	188
Consolidated Net Income / (Loss)	481	258	199	150	222	247	131	210	241	188
Net Income / (Loss) Continuing Operations	481	258	199	150	222	247	131	210	241	188
Total Pre-Tax Income	601	323	254	192	176	292	163	264	298	241
Total Operating Income	622	343	272	209	196	310	178	279	331	287
Total Gross Profit	675	210	431	405	503	471	422	498	495	638
Total Revenue	835	671	574	551	641	609	560	635	644	852
Operating Revenue	828	669	571	547	640	607	560	633	642	836
Other Revenue	7.89	2.07	2.73	4.20	1.20	1.87	0.27	1.10	1.23	16
Total Cost of Revenue	160	461	142	146	138	137	137	137	148	215
Operating Cost of Revenue	160	-	142	146	138	137	137	137	148	215
Total Operating Expenses	53	-132	159	196	307	161	244	219	164	351
Selling, General & Admin Expense	28	33	28	28	29	37	30	31	35	42
Exploration Expense	14	11	18	15	10	16	19	17	12	16
Depreciation Expense	146	144	154	158	189	189	166	180	203	261
Other Operating Expenses / (Income)	-135	-9.29	-41	-4.48	78	-80	29	-9.30	-86	32
Total Other Income / (Expense), net	-22	-19	-18	-17	-19	-18	-15	-15	-33	-46
Interest Expense	23	23	22	22	23	24	22	22	51	47
Interest & Investment Income	1.55	-	4.70	4.99	4.11	6.05	6.77	6.33	18	0.78
Other Income / (Expense), net	-0.38	-0.54	-0.23	-0.23	-0.23	-0.23	-0.02	-0.02	-0.64	0.45
Income Tax Expense	119	65	56	42	-46	45	32	54	57	53
Basic Earnings per Share	$3.91	$2.13	$1.63	$1.26	$1.89	$2.11	$1.13	$1.83	$2.10	$1.65
Weighted Average Basic Shares Outstanding	123.20M	122.35M	121.67M	119.41M	117.82M	118.68M	115.64M	114.63M	114.41M	114.76M
Diluted Earnings per Share	$3.87	$2.10	$1.62	$1.25	$1.88	$2.11	$1.13	$1.82	$2.09	$1.63
Weighted Average Diluted Shares Outstanding	124.28M	124.08M	122.29M	120.07M	118.33M	119.24M	116.46M	115.72M	114.99M	115.53M
Weighted Average Basic & Diluted Shares Outstanding	122.80M	121.93M	120.52M	118.67M	116.31M	115.75M	115.04M	114.42M	114.42M	114.46M

This table details how cash moves in and out of SM Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-0.10	12	302	-236	-78	0.00	333	112	171	-616
Net Cash From Operating Activities	991	553	515	721	824	791	1,160	1,686	1,574	1,783
Net Cash From Continuing Operating Activities	991	553	515	721	824	791	1,160	1,686	1,574	1,792
Net Income / (Loss) Continuing Operations	-448	-758	-161	508	-187	-765	36	1,112	818	770
Consolidated Net Income / (Loss)	-448	-758	-161	508	-187	-765	36	1,112	818	770
Depreciation Expense	921	791	557	665	824	785	774	604	690	809
Amortization Expense	7.71	9.94	16	15	15	18	17	10	5.49	7.46
Non-Cash Adjustments To Reconcile Net Income	725	979	225	-624	196	934	205	-237	-23	18
Changes in Operating Assets and Liabilities, net	-215	-469	-122	155	-25	-181	127	197	84	186
Net Cash From Investing Activities	-1,145	-1,868	-202	-588	-1,013	-556	-667	-880	-1,099	-3,407
Net Cash From Continuing Investing Activities	-1,145	-1,868	-202	-588	-1,013	-556	-667	-880	-1,099	-3,407
Purchase of Property, Plant & Equipment	-1,494	-630	-888	-1,303	-1,024	-548	-675	-880	-989	-1,311
Acquisitions	-7.98	-2,184	-90	-33	-2.58	-	-3.32	-0.01	-110	-2,104
Other Investing Activities, net	-0.99	-	-	-	-	-7.78	11	-0.32	0.66	7.14
Net Cash From Financing Activities	154	1,327	-12	-369	112	-235	-160	-694	-305	1,008
Net Cash From Continuing Financing Activities	154	1,327	-12	-369	112	-235	-160	-694	-305	1,008
Repayment of Debt	-2,199	-1,018	-410	-853	-1,469	-1,680	-2,376	-595	0.00	-1,312
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-57	-228	-86
Payment of Dividends	-6.77	-7.75	-11	-11	-11	-2.28	-2.39	-20	-72	-85
Issuance of Debt	2,363	1,439	406	492	1,589	1,447	2,225	0.00	0.00	2,495
Issuance of Common Equity	4.84	938	2.62	3.19	3.21	1.46	2.64	3.04	3.06	3.20
Other Financing Activities, net	-8.68	-24	-	-	-	-1.56	-9.07	-25	-7.88	-6.84
Cash Interest Paid	127	130	164	151	142	140	137	134	87	88
Cash Income Taxes Paid	1.63	-4.69	-5.99	-3.00	6.11	6.66	-0.86	-11	-8.98	-27

This table details how cash moves in and out of SM Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	231	-53	33	-100	24	214	-110	84	1,247	-1,837
Net Cash From Operating Activities	513	288	332	383	383	477	276	476	452	578
Net Cash From Continuing Operating Activities	513	288	332	383	383	477	276	476	461	578
Net Income / (Loss) Continuing Operations	481	258	199	150	222	247	131	210	241	188
Consolidated Net Income / (Loss)	481	258	199	150	222	247	131	210	241	188
Depreciation Expense	146	144	154	158	189	189	166	180	203	261
Amortization Expense	1.30	1.37	1.37	1.37	1.37	1.37	1.37	1.37	2.18	2.53
Non-Cash Adjustments To Reconcile Net Income	-322	-122	-46	8.12	74	-59	48	-8.67	-62	41
Changes in Operating Assets and Liabilities, net	207	7.23	24	66	-104	98	-70	94	78	85
Net Cash From Investing Activities	-227	-288	-240	-398	-237	-223	-332	-323	-303	-2,449
Net Cash From Continuing Investing Activities	-227	-288	-240	-398	-237	-223	-332	-323	-303	-2,449
Purchase of Property, Plant & Equipment	-226	-288	-241	-309	-217	-223	-332	-323	-302	-353
Acquisitions	-0.01	-	-	-	-20	-0.61	-	-	-0.84	-2,103
Other Investing Activities, net	-0.59	0.27	0.31	0.35	-	-	0.08	0.00	-	7.06
Net Cash From Financing Activities	-55	-54	-58	-85	-122	-39	-54	-70	1,098	34
Net Cash From Continuing Financing Activities	-55	-54	-58	-85	-122	-39	-54	-70	1,098	34
Repayment of Debt	-35	25	-	-	-	-	-	-	-	-961
Repurchase of Common Equity	-20	-37	-40	-69	-96	-23	-33	-51	-	-2.07
Payment of Dividends	-	-18	-18	-18	-18	-17	-21	-21	-21	-23
Issuance of Debt	-	-	-	-	-	-	-	-	-	1,018
Issuance of Common Equity	-	1.39	-	-	-	1.24	-	-	-	1.36
Cash Interest Paid	35	8.57	34	8.80	35	9.43	33	8.57	42	5.26
Cash Income Taxes Paid	-0.00	-0.07	-0.05	-6.09	-0.04	-2.80	3.29	-11	-0.19	-19

This table presents SM Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	5,622	6,394	6,177	6,353	6,292	4,976	5,234	5,716	6,380	8,577
Total Current Assets	519	225	549	429	253	204	613	737	916	435
Cash & Equivalents	0.02	9.37	314	78	0.01	0.01	333	445	616	0.00
Accounts Receivable	134	152	160	168	185	162	247	233	231	361
Prepaid Expenses	17	8.80	11	8.63	13	10	9.18	10	13	25
Other Current Assets	368	55	64	175	55	31	24	49	56	49
Plant, Property, & Equipment, net	4,950	6,081	5,555	5,831	5,954	4,702	4,576	4,883	5,376	7,993
Plant, Property & Equipment, gross	8,431	8,918	8,726	9,249	10,132	9,589	10,211	11,071	12,207	15,596
Accumulated Depreciation	3,482	2,837	3,172	3,418	4,178	4,887	5,635	6,188	6,830	7,603
Total Noncurrent Assets	152	88	73	92	86	71	45	96	87	149
Other Noncurrent Operating Assets	152	88	73	92	86	71	45	96	87	149
Total Liabilities & Shareholders' Equity	5,622	6,394	6,177	6,353	6,292	4,976	5,234	5,716	6,380	8,577
Total Liabilities	3,769	3,896	3,782	3,433	3,543	2,960	3,171	2,631	2,764	4,339
Total Current Liabilities	303	415	559	466	472	584	889	599	634	790
Accounts Payable	303	300	387	403	402	372	563	532	612	760
Other Current Liabilities	0.01	115	173	63	70	212	326	66	22	29
Total Noncurrent Liabilities	3,466	3,481	3,223	2,966	3,071	2,377	2,282	2,032	2,130	3,549
Long-Term Debt	2,518	2,898	2,909	2,596	2,733	2,214	2,081	1,572	1,575	2,777
Asset Retirement Reserve & Litigation Obligation	137	96	103	92	84	83	97	108	119	145
Noncurrent Deferred & Payable Income Tax Liabilities	758	316	80	223	189	0.00	9.77	281	370	545
Other Noncurrent Operating Liabilities	53	146	120	55	65	79	93	71	66	82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,852	2,497	2,395	2,920	2,749	2,016	2,063	3,085	3,616	4,237
Total Preferred & Common Equity	1,852	2,497	2,395	2,920	2,749	2,016	2,063	3,085	3,616	4,237
Total Common Equity	1,852	2,497	2,395	2,920	2,749	2,016	2,063	3,085	3,616	4,237
Common Stock	306	1,718	1,743	1,767	1,793	1,829	1,841	1,781	1,566	1,503
Retained Earnings	1,560	794	666	1,166	968	201	235	1,309	2,052	2,735
Accumulated Other Comprehensive Income / (Loss)	-13	-15	-14	-12	-11	-14	-13	-4.02	-2.61	-1.16

This table presents SM Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	5,652	5,870	5,993	6,079	6,398	6,657	8,028
Total Current Assets	808	756	679	703	793	774	2,044
Cash & Equivalents	498	478	378	402	506	488	1,735
Accounts Receivable	258	188	218	265	242	239	227
Prepaid Expenses	9.13	9.54	8.82	11	11	20	10
Other Current Assets	42	81	74	26	34	27	72
Plant, Property, & Equipment, net	4,747	5,030	5,231	5,292	5,514	5,662	5,754
Plant, Property & Equipment, gross	10,802	11,369	11,725	11,973	12,508	12,833	13,125
Accumulated Depreciation	6,055	6,339	6,494	6,680	6,994	7,171	7,371
Total Noncurrent Assets	97	84	82	84	92	221	229
Other Noncurrent Operating Assets	97	84	82	84	92	221	229
Total Liabilities & Shareholders' Equity	5,652	5,870	5,993	6,079	6,398	6,657	8,028
Total Liabilities	2,784	2,640	2,694	2,674	2,700	2,813	3,966
Total Current Liabilities	814	563	564	599	536	602	581
Accounts Payable	632	522	530	540	496	564	561
Other Current Liabilities	182	41	34	59	40	38	20
Total Noncurrent Liabilities	1,970	2,077	2,130	2,075	2,164	2,211	3,385
Long-Term Debt	1,571	1,573	1,574	1,575	1,576	1,577	2,707
Asset Retirement Reserve & Litigation Obligation	98	110	114	115	124	124	125
Noncurrent Deferred & Payable Income Tax Liabilities	212	331	375	324	397	441	467
Other Noncurrent Operating Liabilities	88	63	67	61	67	69	86
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,868	3,230	3,298	3,404	3,698	3,844	4,062
Total Preferred & Common Equity	2,868	3,230	3,298	3,404	3,698	3,844	4,062
Total Common Equity	2,868	3,230	3,298	3,404	3,698	3,844	4,062
Common Stock	1,812	1,745	1,681	1,582	1,538	1,494	1,494
Retained Earnings	1,068	1,489	1,621	1,826	2,163	2,353	2,570
Accumulated Other Comprehensive Income / (Loss)	-12	-4.01	-4.00	-3.98	-2.60	-2.59	-2.48

This table displays calculated financial ratios and metrics derived from SM Energy's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-38.27%	-21.81%	-7.23%	83.03%	-23.07%	-29.14%	132.80%	28.05%	-29.32%	13.33%
EBITDA Growth	-81.90%	-173.67%	258.28%	271.83%	-49.52%	-135.21%	469.58%	119.51%	-23.27%	12.50%
EBIT Growth	-149.70%	-83.17%	84.46%	610.22%	-108.57%	-1,391.33%	119.29%	662.50%	-37.52%	9.08%
NOPAT Growth	-155.55%	-82.63%	84.51%	669.23%	-107.51%	-1,427.77%	121.93%	666.76%	-29.83%	-2.87%
Net Income Growth	-167.22%	-69.25%	78.77%	416.09%	-136.78%	-308.88%	104.74%	2,969.23%	-26.45%	-5.82%
EPS Growth	-167.52%	-49.77%	85.45%	411.11%	-137.05%	-304.82%	104.32%	2,989.66%	-23.44%	-2.77%
Operating Cash Flow Growth	-31.98%	-44.21%	-6.77%	39.82%	14.28%	-3.96%	46.63%	45.41%	-6.64%	13.22%
Free Cash Flow Firm Growth	85.24%	-1,036.06%	116.63%	-27.58%	-142.93%	646.38%	15.89%	47.04%	-39.27%	-403.78%
Invested Capital Growth	-5.38%	23.82%	-7.59%	8.76%	0.79%	-22.83%	-9.90%	10.52%	8.60%	53.31%
Revenue Q/Q Growth	-13.75%	3.49%	-15.79%	12.12%	3.70%	-10.44%	25.60%	-5.18%	-2.57%	9.95%
EBITDA Q/Q Growth	-74.83%	37.57%	54.30%	61.72%	-38.08%	-84.49%	192.60%	-7.98%	0.78%	2.73%
EBIT Q/Q Growth	-219.14%	17.30%	52.86%	170.95%	-116.10%	-8.58%	147.03%	-7.68%	-3.19%	-2.03%
NOPAT Q/Q Growth	-228.42%	17.45%	53.01%	42.72%	-114.12%	-8.50%	153.61%	-13.30%	-1.25%	-4.29%
Net Income Q/Q Growth	-299.63%	15.53%	52.06%	194.87%	-183.19%	-9.00%	106.54%	-13.02%	-1.37%	-7.10%
EPS Q/Q Growth	-299.70%	24.54%	52.16%	194.74%	-184.26%	-8.56%	106.03%	-14.91%	0.15%	-6.71%
Operating Cash Flow Q/Q Growth	29.06%	-45.78%	1.37%	5.05%	8.22%	1.92%	17.50%	-7.73%	13.57%	6.03%
Free Cash Flow Firm Q/Q Growth	66.15%	-2,821.97%	121.76%	-32.46%	57.61%	43.02%	6.53%	-28.29%	101.89%	-459.45%
Invested Capital Q/Q Growth	-7.42%	43.97%	2.56%	8.44%	-1.75%	-6.78%	3.44%	6.90%	-0.04%	39.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.52%	50.92%	55.03%	100.00%	68.51%	65.28%	80.73%	81.51%	76.26%	76.32%
EBITDA Margin	22.52%	-21.21%	36.20%	73.53%	48.26%	-23.98%	38.07%	65.26%	70.85%	70.34%
Operating Margin	-37.17%	-86.82%	-14.50%	40.46%	-4.40%	-94.88%	7.97%	47.03%	41.57%	39.98%
EBIT Margin	-37.13%	-86.98%	-14.57%	40.61%	-4.52%	-95.23%	7.89%	46.98%	41.53%	39.98%
Profit (Net Income) Margin	-28.76%	-62.24%	-14.24%	24.60%	-11.76%	-67.86%	1.38%	33.11%	34.45%	28.63%
Tax Burden Percent	61.94%	63.04%	46.78%	78.00%	80.94%	79.92%	78.47%	79.67%	89.46%	79.72%
Interest Burden Percent	125.03%	113.50%	208.98%	77.65%	321.15%	89.17%	22.31%	88.45%	92.72%	89.84%
Effective Tax Rate	0.00%	0.00%	0.00%	22.00%	0.00%	0.00%	21.53%	20.33%	10.54%	20.28%
Return on Invested Capital (ROIC)	-9.01%	-15.13%	-2.20%	12.50%	-0.90%	-15.41%	4.08%	31.36%	20.09%	14.80%
ROIC Less NNEP Spread (ROIC-NNEP)	-10.77%	-15.78%	-3.88%	6.88%	-6.15%	-16.07%	-2.37%	21.18%	13.86%	10.13%
Return on Net Nonoperating Assets (RNNOA)	-12.62%	-19.71%	-4.37%	6.63%	-5.70%	-16.68%	-2.31%	11.83%	4.32%	4.82%
Return on Equity (ROE)	-21.63%	-34.84%	-6.58%	19.13%	-6.60%	-32.09%	1.78%	43.19%	24.41%	19.62%
Cash Return on Invested Capital (CROIC)	-3.49%	-36.41%	5.69%	4.11%	-1.69%	10.36%	14.50%	21.37%	11.85%	-27.29%
Operating Return on Assets (OROA)	-9.55%	-17.63%	-2.62%	13.40%	-1.14%	-19.04%	4.05%	28.82%	16.30%	14.38%
Return on Assets (ROA)	-7.40%	-12.61%	-2.56%	8.12%	-2.96%	-13.57%	0.71%	20.31%	13.52%	10.30%
Return on Common Equity (ROCE)	-21.63%	-34.84%	-6.58%	19.13%	-6.60%	-32.09%	1.78%	43.19%	24.41%	19.62%
Return on Equity Simple (ROE_SIMPLE)	-24.17%	-30.34%	-6.72%	17.41%	-6.80%	-37.92%	1.76%	36.04%	22.62%	18.18%
Net Operating Profit after Tax (NOPAT)	-405	-740	-115	652	-49	-748	164	1,258	883	858
NOPAT Margin	-26.02%	-60.78%	-10.15%	31.56%	-3.08%	-66.41%	6.26%	37.46%	37.19%	31.88%
Net Nonoperating Expense Percent (NNEP)	1.75%	0.66%	1.68%	5.62%	5.26%	0.66%	6.45%	10.18%	6.24%	4.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	27.02%	17.01%	12.23%
Cost of Revenue to Revenue	46.48%	49.08%	44.97%	0.00%	31.49%	34.72%	19.27%	18.49%	23.74%	23.68%
SG&A Expenses to Revenue	10.13%	10.25%	10.38%	5.64%	8.35%	8.80%	4.27%	3.41%	5.10%	5.14%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	90.70%	137.74%	69.52%	59.54%	72.91%	160.15%	72.76%	34.49%	34.69%	36.34%
Earnings before Interest and Taxes (EBIT)	-578	-1,059	-165	839	-72	-1,073	207	1,578	986	1,075
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	351	-258	409	1,520	767	-270	999	2,192	1,682	1,892
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.67	1.12	0.97	0.56	0.44	0.34	1.68	1.33	1.22	1.04
Price to Tangible Book Value (P/TBV)	0.67	1.12	0.97	0.56	0.44	0.34	1.68	1.33	1.22	1.04
Price to Revenue (P/Rev)	0.80	2.30	2.05	0.79	0.76	0.60	1.32	1.22	1.86	1.64
Price to Earnings (P/E)	0.00	0.00	0.00	3.23	0.00	0.00	95.57	3.70	5.39	5.73
Dividend Yield	0.54%	0.31%	0.48%	0.68%	0.93%	0.34%	0.07%	0.48%	1.58%	1.92%
Earnings Yield	0.00%	0.00%	0.00%	30.99%	0.00%	0.00%	1.05%	27.05%	18.57%	17.45%
Enterprise Value to Invested Capital (EV/IC)	0.86	1.05	0.98	0.76	0.72	0.68	1.37	1.24	1.17	1.03
Enterprise Value to Revenue (EV/Rev)	2.42	4.68	4.35	2.01	2.48	2.57	1.99	1.56	2.26	2.67
Enterprise Value to EBITDA (EV/EBITDA)	10.74	0.00	12.02	2.74	5.14	0.00	5.22	2.39	3.19	3.80
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	4.95	0.00	0.00	25.18	3.32	5.44	6.69
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	6.38	0.00	0.00	31.75	4.16	6.08	8.38
Enterprise Value to Operating Cash Flow (EV/OCF)	3.80	10.30	9.54	5.77	4.79	3.66	4.49	3.11	3.41	4.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	16.59	19.39	0.00	5.75	8.94	6.11	10.30	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.36	1.16	1.21	0.89	0.99	1.10	1.01	0.51	0.44	0.66
Long-Term Debt to Equity	1.36	1.16	1.21	0.89	0.99	1.10	1.01	0.51	0.44	0.66
Financial Leverage	1.17	1.25	1.13	0.96	0.93	1.04	0.97	0.56	0.31	0.48
Leverage Ratio	2.92	2.76	2.57	2.36	2.23	2.36	2.50	2.13	1.81	1.90
Compound Leverage Factor	3.66	3.14	5.37	1.83	7.16	2.11	0.56	1.88	1.67	1.71
Debt to Total Capital	57.61%	53.71%	54.85%	47.06%	49.85%	52.34%	50.22%	33.76%	30.35%	39.59%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.61%	53.71%	54.85%	47.06%	49.85%	52.34%	50.22%	33.76%	30.35%	39.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	42.39%	46.29%	45.15%	52.94%	50.15%	47.66%	49.78%	66.24%	69.65%	60.41%
Debt to EBITDA	7.18	-11.22	7.12	1.71	3.56	-8.20	2.08	0.72	0.94	1.47
Net Debt to EBITDA	7.18	-11.18	6.35	1.66	3.56	-8.20	1.75	0.51	0.57	1.47
Long-Term Debt to EBITDA	7.18	-11.22	7.12	1.71	3.56	-8.20	2.08	0.72	0.94	1.47
Debt to NOPAT	-6.21	-3.92	-25.38	3.98	-55.80	-2.96	12.68	1.25	1.78	3.24
Net Debt to NOPAT	-6.21	-3.90	-22.64	3.86	-55.80	-2.96	10.65	0.90	1.09	3.24
Long-Term Debt to NOPAT	-6.21	-3.92	-25.38	3.98	-55.80	-2.96	12.68	1.25	1.78	3.24
Altman Z-Score	0.57	0.21	0.61	1.30	0.59	-0.38	1.29	2.79	2.34	1.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.72	0.54	0.98	0.92	0.54	0.35	0.69	1.23	1.45	0.55
Quick Ratio	0.44	0.39	0.85	0.53	0.39	0.28	0.65	1.13	1.34	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-157	-1,781	296	214	-92	503	583	857	521	-1,581
Operating Cash Flow to CapEx	66.34%	87.76%	58.02%	55.30%	80.44%	144.39%	171.86%	191.65%	159.12%	136.00%
Free Cash Flow to Firm to Interest Expense	-1.08	-12.46	1.65	1.14	-0.58	0.00	3.59	4.56	5.68	-11.20
Operating Cash Flow to Interest Expense	6.85	3.87	2.87	3.84	5.18	0.00	7.14	8.97	17.18	12.63
Operating Cash Flow Less CapEx to Interest Expense	-3.47	-0.54	-2.08	-3.10	-1.26	0.00	2.98	4.29	6.38	3.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.26	0.20	0.18	0.33	0.25	0.20	0.51	0.61	0.39	0.36
Accounts Receivable Turnover	6.82	8.51	7.24	12.62	9.03	6.49	12.81	13.98	10.22	9.09
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.30	0.22	0.19	0.36	0.27	0.21	0.57	0.71	0.46	0.40
Accounts Payable Turnover	1.53	1.98	1.48	0.00	1.24	1.01	1.08	1.13	0.99	0.93
Days Sales Outstanding (DSO)	53.54	42.88	50.43	28.93	40.43	56.24	28.50	26.11	35.71	40.17
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	237.88	183.92	246.61	0.00	293.48	360.92	337.61	322.02	370.44	393.12
Cash Conversion Cycle (CCC)	-184.34	-141.04	-196.18	28.93	-253.05	-304.68	-309.11	-295.91	-334.73	-352.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,371	5,412	5,001	5,439	5,482	4,230	3,812	4,213	4,575	7,014
Invested Capital Turnover	0.35	0.25	0.22	0.40	0.29	0.23	0.65	0.84	0.54	0.46
Increase / (Decrease) in Invested Capital	-248	1,041	-411	438	43	-1,251	-419	401	362	2,439
Enterprise Value (EV)	3,766	5,693	4,914	4,159	3,943	2,892	5,211	5,238	5,364	7,190
Market Capitalization	1,248	2,805	2,320	1,640	1,210	677	3,462	4,111	4,405	4,413
Book Value per Share	$27.25	$28.75	$21.45	$26.04	$24.36	$17.60	$16.98	$25.13	$31.09	$37.03
Tangible Book Value per Share	$27.25	$28.75	$21.45	$26.04	$24.36	$17.60	$16.98	$25.13	$31.09	$37.03
Total Capital	4,370	5,395	5,303	5,517	5,482	4,230	4,144	4,658	5,191	7,014
Total Debt	2,518	2,898	2,909	2,596	2,733	2,214	2,081	1,572	1,575	2,777
Total Long-Term Debt	2,518	2,898	2,909	2,596	2,733	2,214	2,081	1,572	1,575	2,777
Net Debt	2,518	2,888	2,595	2,518	2,733	2,214	1,748	1,127	959	2,777
Capital Expenditures (CapEx)	1,494	630	888	1,303	1,024	548	675	880	989	1,311
Debt-free, Cash-free Net Working Capital (DFCFNWC)	216	-200	-324	-115	-219	-380	-609	-306	-334	-355
Debt-free Net Working Capital (DFNWC)	216	-191	-10	-37	-219	-380	-276	139	283	-355
Net Working Capital (NWC)	216	-191	-10	-37	-219	-380	-276	139	283	-355
Net Nonoperating Expense (NNE)	43	18	46	144	138	16	128	146	65	87
Net Nonoperating Obligations (NNO)	2,518	2,914	2,606	2,518	2,733	2,214	1,748	1,127	959	2,777
Total Depreciation and Amortization (D&A)	929	801	573	681	839	803	792	614	696	817
Debt-free, Cash-free Net Working Capital to Revenue	13.90%	-16.42%	-28.69%	-5.55%	-13.80%	-33.73%	-23.21%	-9.12%	-14.05%	-13.21%
Debt-free Net Working Capital to Revenue	13.90%	-15.65%	-0.89%	-1.78%	-13.80%	-33.73%	-10.53%	4.13%	11.91%	-13.21%
Net Working Capital to Revenue	13.90%	-15.65%	-0.89%	-1.78%	-13.80%	-33.73%	-10.53%	4.13%	11.91%	-13.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($6.61)	($9.90)	($1.44)	$4.54	($1.66)	($6.72)	$0.30	$9.09	$6.89	$6.71
Adjusted Weighted Average Basic Shares Outstanding	67.72M	76.57M	111.43M	111.91M	112.54M	113.73M	119.04M	122.35M	118.68M	114.76M
Adjusted Diluted Earnings per Share	($6.61)	($9.90)	($1.44)	$4.48	($1.66)	($6.72)	$0.29	$8.96	$6.86	$6.67
Adjusted Weighted Average Diluted Shares Outstanding	67.72M	76.57M	111.43M	113.50M	112.54M	113.73M	123.69M	124.08M	119.24M	115.53M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	68.08M	111.26M	111.69M	112.24M	112.99M	114.74M	121.86M	121.93M	115.75M	114.46M
Normalized Net Operating Profit after Tax (NOPAT)	13	-435	-103	691	-25	-37	192	1,258	883	858
Normalized NOPAT Margin	0.81%	-35.77%	-9.15%	33.44%	-1.59%	-3.29%	7.30%	37.46%	37.19%	31.88%
Pre Tax Income Margin	-46.43%	-98.72%	-30.44%	31.53%	-14.53%	-84.91%	1.76%	41.56%	38.51%	35.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.99	-7.41	-0.92	4.47	-0.45	0.00	1.27	8.40	10.76	7.62
NOPAT to Interest Expense	-2.80	-5.18	-0.64	3.48	-0.31	0.00	1.01	6.69	9.64	6.08
EBIT Less CapEx to Interest Expense	-14.31	-11.81	-5.87	-2.47	-6.89	0.00	-2.88	3.71	-0.04	-1.67
NOPAT Less CapEx to Interest Expense	-13.12	-9.58	-5.59	-3.47	-6.74	0.00	-3.14	2.01	-1.16	-3.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-1.51%	-1.02%	-6.93%	2.20%	-6.02%	-0.30%	6.61%	1.77%	8.76%	11.04%
Augmented Payout Ratio	-1.51%	-1.02%	-6.93%	2.20%	-6.02%	-0.30%	6.61%	6.91%	36.65%	22.21%

This table displays calculated financial ratios and metrics derived from SM Energy's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.89%	-21.48%	-33.30%	-44.49%	-23.29%	-9.32%	-2.38%	15.22%	0.42%	40.00%
EBITDA Growth	130.94%	-28.08%	61.58%	-45.14%	-49.80%	2.68%	-19.06%	24.99%	38.68%	10.06%
EBIT Growth	391.97%	-27.72%	169.09%	-59.23%	-68.59%	-9.48%	-34.38%	33.59%	69.08%	-7.19%
NOPAT Growth	294.73%	-40.90%	164.10%	-59.58%	-50.54%	-4.19%	-32.57%	36.22%	8.45%	-14.72%
Net Income Growth	462.24%	-39.17%	307.17%	-53.67%	-53.80%	-4.39%	-33.92%	40.31%	8.18%	-23.81%
EPS Growth	460.87%	-42.78%	315.38%	-51.92%	-51.42%	0.48%	-30.25%	45.60%	11.17%	-22.75%
Operating Cash Flow Growth	56.46%	-32.88%	-3.06%	-29.36%	-25.40%	65.24%	-16.78%	24.30%	18.09%	21.27%
Free Cash Flow Firm Growth	-75.23%	-114.41%	-200.34%	-245.31%	-260.56%	21.44%	31.34%	62.84%	51.59%	-2,117.08%
Invested Capital Growth	6.95%	10.52%	17.67%	19.89%	16.14%	8.60%	10.25%	9.77%	9.96%	53.31%
Revenue Q/Q Growth	-15.79%	-19.65%	-14.57%	-3.97%	16.37%	-5.02%	-8.03%	13.34%	1.43%	32.41%
EBITDA Q/Q Growth	14.56%	-36.66%	-12.26%	-13.82%	4.82%	29.55%	-30.84%	33.08%	16.30%	2.81%
EBIT Q/Q Growth	21.25%	-44.99%	-20.55%	-23.07%	-6.58%	58.51%	-42.40%	56.62%	18.24%	-12.99%
NOPAT Q/Q Growth	23.29%	-45.06%	-22.38%	-23.12%	50.87%	6.43%	-45.38%	55.31%	20.12%	-16.32%
Net Income Q/Q Growth	48.77%	-46.29%	-23.18%	-24.52%	48.35%	11.14%	-46.91%	60.29%	14.38%	-21.72%
EPS Q/Q Growth	48.85%	-45.74%	-22.86%	-22.84%	50.40%	12.23%	-46.45%	61.06%	14.84%	-22.01%
Operating Cash Flow Q/Q Growth	-5.38%	-43.83%	15.00%	15.56%	-0.07%	24.42%	-42.08%	72.60%	-5.06%	27.77%
Free Cash Flow Firm Q/Q Growth	-39.42%	-152.41%	-243.37%	-33.30%	33.07%	74.36%	-200.10%	27.85%	12.80%	-1,074.33%
Invested Capital Q/Q Growth	5.13%	6.90%	2.66%	3.91%	1.84%	-0.04%	4.22%	3.46%	2.03%	39.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.85%	31.34%	75.18%	73.57%	78.43%	77.44%	75.46%	78.47%	76.95%	74.82%
EBITDA Margin	92.05%	72.56%	74.52%	66.88%	60.24%	82.16%	61.79%	72.55%	83.19%	64.59%
Operating Margin	74.48%	51.04%	47.44%	38.01%	30.52%	50.91%	31.86%	44.03%	51.42%	33.67%
EBIT Margin	74.44%	50.96%	47.40%	37.97%	30.48%	50.87%	31.86%	44.02%	51.32%	33.73%
Profit (Net Income) Margin	57.60%	38.50%	34.62%	27.21%	34.69%	40.59%	23.43%	33.14%	37.37%	22.09%
Tax Burden Percent	80.12%	79.94%	78.15%	78.07%	126.07%	84.68%	80.36%	79.69%	80.81%	77.99%
Interest Burden Percent	96.58%	94.51%	93.47%	91.80%	90.27%	94.23%	91.53%	94.46%	90.11%	84.00%
Effective Tax Rate	19.88%	20.06%	21.85%	21.93%	-26.07%	15.32%	19.64%	20.31%	19.19%	22.01%
Return on Invested Capital (ROIC)	55.45%	34.16%	28.47%	18.95%	22.01%	23.29%	13.29%	18.19%	21.16%	12.19%
ROIC Less NNEP Spread (ROIC-NNEP)	54.34%	33.08%	27.41%	17.86%	19.85%	21.82%	12.17%	17.11%	18.65%	10.29%
Return on Net Nonoperating Assets (RNNOA)	37.64%	18.48%	13.62%	7.77%	7.11%	6.79%	3.80%	5.47%	5.36%	4.90%
Return on Equity (ROE)	93.09%	52.63%	42.09%	26.72%	29.12%	30.09%	17.10%	23.67%	26.51%	17.09%
Cash Return on Invested Capital (CROIC)	31.35%	21.37%	18.52%	9.78%	6.05%	11.85%	8.16%	9.20%	9.16%	-27.29%
Operating Return on Assets (OROA)	49.22%	31.26%	25.85%	17.63%	12.66%	19.97%	12.26%	17.01%	17.80%	12.13%
Return on Assets (ROA)	38.09%	23.62%	18.88%	12.64%	14.41%	15.93%	9.02%	12.81%	12.96%	7.95%
Return on Common Equity (ROCE)	93.09%	52.63%	42.09%	26.72%	29.12%	30.09%	17.10%	23.67%	26.51%	17.09%
Return on Equity Simple (ROE_SIMPLE)	44.58%	0.00%	39.07%	32.99%	24.36%	0.00%	20.29%	21.10%	20.41%	0.00%
Net Operating Profit after Tax (NOPAT)	499	274	213	163	247	262	143	223	267	224
NOPAT Margin	59.68%	40.80%	37.07%	29.68%	38.48%	43.11%	25.61%	35.09%	41.55%	26.26%
Net Nonoperating Expense Percent (NNEP)	1.11%	1.07%	1.06%	1.09%	2.16%	1.47%	1.12%	1.08%	2.51%	1.90%
Return On Investment Capital (ROIC_SIMPLE)	-	5.88%	-	-	-	5.06%	-	-	-	3.19%
Cost of Revenue to Revenue	19.15%	68.66%	24.82%	26.43%	21.57%	22.56%	24.54%	21.53%	23.05%	25.18%
SG&A Expenses to Revenue	3.40%	4.89%	4.82%	4.99%	4.56%	6.02%	5.39%	4.90%	5.46%	4.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	6.37%	-19.71%	27.74%	35.55%	47.91%	26.53%	43.60%	34.44%	25.52%	41.15%
Earnings before Interest and Taxes (EBIT)	622	342	272	209	195	310	178	279	330	287
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	769	487	427	368	386	500	346	460	535	550
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.56	1.33	1.04	1.13	1.35	1.22	1.56	1.29	1.12	1.04
Price to Tangible Book Value (P/TBV)	1.56	1.33	1.04	1.13	1.35	1.22	1.56	1.29	1.12	1.04
Price to Revenue (P/Rev)	1.26	1.22	1.09	1.42	1.89	1.86	2.44	2.03	1.86	1.64
Price to Earnings (P/E)	3.49	3.70	2.65	3.43	5.56	5.39	7.67	6.11	5.49	5.73
Dividend Yield	0.06%	0.48%	1.13%	1.45%	1.54%	1.58%	1.27%	1.53%	1.73%	1.92%
Earnings Yield	28.67%	27.05%	37.70%	29.13%	17.99%	18.57%	13.04%	16.37%	18.22%	17.45%
Enterprise Value to Invested Capital (EV/IC)	1.40	1.24	1.03	1.10	1.26	1.17	1.43	1.23	1.10	1.03
Enterprise Value to Revenue (EV/Rev)	1.56	1.56	1.45	1.87	2.37	2.26	2.89	2.47	2.26	2.67
Enterprise Value to EBITDA (EV/EBITDA)	2.32	2.39	1.89	2.40	3.46	3.19	4.26	3.57	3.00	3.80
Enterprise Value to EBIT (EV/EBIT)	3.24	3.32	2.54	3.41	5.68	5.44	7.65	6.28	5.03	6.69
Enterprise Value to NOPAT (EV/NOPAT)	3.81	4.16	3.20	4.29	6.47	6.08	8.38	6.93	6.16	8.38
Enterprise Value to Operating Cash Flow (EV/OCF)	3.03	3.11	2.65	3.25	4.17	3.41	4.49	3.75	3.29	4.03
Enterprise Value to Free Cash Flow (EV/FCFF)	4.63	6.11	6.00	12.23	22.42	10.30	18.40	13.94	12.55	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.51	0.49	0.48	0.46	0.44	0.43	0.41	0.67	0.66
Long-Term Debt to Equity	0.55	0.51	0.49	0.48	0.46	0.44	0.43	0.41	0.67	0.66
Financial Leverage	0.69	0.56	0.50	0.44	0.36	0.31	0.31	0.32	0.29	0.48
Leverage Ratio	2.38	2.13	2.11	1.97	1.87	1.81	1.77	1.77	1.89	1.90
Compound Leverage Factor	2.30	2.01	1.97	1.81	1.69	1.70	1.62	1.67	1.70	1.60
Debt to Total Capital	35.40%	33.76%	32.75%	32.30%	31.62%	30.35%	29.88%	29.09%	39.99%	39.59%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	35.40%	33.76%	32.75%	32.30%	31.62%	30.35%	29.88%	29.09%	39.99%	39.59%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.60%	66.24%	67.25%	67.70%	68.38%	69.65%	70.12%	70.91%	60.01%	60.41%
Debt to EBITDA	0.66	0.72	0.67	0.77	0.94	0.94	0.98	0.93	1.47	1.47
Net Debt to EBITDA	0.45	0.51	0.47	0.58	0.70	0.57	0.67	0.64	0.53	1.47
Long-Term Debt to EBITDA	0.66	0.72	0.67	0.77	0.94	0.94	0.98	0.93	1.47	1.47
Debt to NOPAT	1.08	1.25	1.13	1.37	1.76	1.78	1.94	1.81	3.02	3.24
Net Debt to NOPAT	0.74	0.90	0.79	1.04	1.31	1.09	1.31	1.25	1.08	3.24
Long-Term Debt to NOPAT	1.08	1.25	1.13	1.37	1.76	1.78	1.94	1.81	3.02	3.24
Altman Z-Score	2.21	2.07	1.83	1.79	1.98	1.99	2.26	2.09	1.80	1.43
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.99	1.23	1.34	1.20	1.17	1.45	1.48	1.29	3.52	0.55
Quick Ratio	0.93	1.13	1.18	1.06	1.11	1.34	1.40	1.21	3.38	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	243	-127	-437	-582	-390	-100	-300	-216	-189	-2,215
Operating Cash Flow to CapEx	227.05%	100.10%	137.77%	123.90%	176.73%	214.02%	83.04%	147.63%	149.70%	163.48%
Free Cash Flow to Firm to Interest Expense	10.63	-5.53	-19.44	-26.28	-16.86	-4.18	-13.71	-9.92	-3.72	-47.35
Operating Cash Flow to Interest Expense	22.49	12.53	14.77	17.30	16.58	19.92	12.62	21.85	8.92	12.35
Operating Cash Flow Less CapEx to Interest Expense	12.59	0.01	4.05	3.34	7.20	10.61	-2.58	7.05	2.96	4.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.61	0.55	0.46	0.42	0.39	0.38	0.39	0.35	0.36
Accounts Receivable Turnover	13.36	13.98	12.07	9.54	9.33	10.22	10.99	10.70	9.96	9.09
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.75	0.71	0.64	0.53	0.49	0.46	0.45	0.45	0.44	0.40
Accounts Payable Turnover	0.73	1.13	1.47	1.63	1.51	0.99	1.10	1.00	1.02	0.93
Days Sales Outstanding (DSO)	27.32	26.11	30.23	38.27	39.14	35.71	33.21	34.12	36.63	40.17
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	499.97	322.02	247.91	223.63	241.19	370.44	332.82	363.34	359.08	393.12
Cash Conversion Cycle (CCC)	-472.65	-295.91	-217.69	-185.36	-202.05	-334.73	-299.60	-329.23	-322.45	-352.95
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,941	4,213	4,325	4,494	4,577	4,575	4,768	4,933	5,033	7,014
Invested Capital Turnover	0.93	0.84	0.77	0.64	0.57	0.54	0.52	0.52	0.51	0.46
Increase / (Decrease) in Invested Capital	256	401	649	746	636	362	443	439	456	2,439
Enterprise Value (EV)	5,532	5,238	4,442	4,931	5,781	5,364	6,825	6,043	5,523	7,190
Market Capitalization	4,459	4,111	3,347	3,735	4,609	4,405	5,755	4,954	4,552	4,413
Book Value per Share	$23.39	$25.13	$26.49	$27.37	$28.69	$31.09	$31.98	$33.42	$35.50	$37.03
Tangible Book Value per Share	$23.39	$25.13	$26.49	$27.37	$28.69	$31.09	$31.98	$33.42	$35.50	$37.03
Total Capital	4,439	4,658	4,803	4,872	4,979	5,191	5,274	5,421	6,768	7,014
Total Debt	1,571	1,572	1,573	1,574	1,575	1,575	1,576	1,577	2,707	2,777
Total Long-Term Debt	1,571	1,572	1,573	1,574	1,575	1,575	1,576	1,577	2,707	2,777
Net Debt	1,073	1,127	1,095	1,196	1,173	959	1,070	1,089	971	2,777
Capital Expenditures (CapEx)	226	288	241	309	217	223	332	323	302	353
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-505	-306	-285	-263	-299	-334	-249	-315	-272	-355
Debt-free Net Working Capital (DFNWC)	-6.24	139	193	115	103	283	257	172	1,463	-355
Net Working Capital (NWC)	-6.24	139	193	115	103	283	257	172	1,463	-355
Net Nonoperating Expense (NNE)	17	15	14	14	24	15	12	12	27	36
Net Nonoperating Obligations (NNO)	1,073	1,127	1,095	1,196	1,173	959	1,070	1,089	971	2,777
Total Depreciation and Amortization (D&A)	147	145	156	159	191	190	168	181	205	263
Debt-free, Cash-free Net Working Capital to Revenue	-14.25%	-9.12%	-9.27%	-10.01%	-12.25%	-14.05%	-10.56%	-12.91%	-11.12%	-13.21%
Debt-free Net Working Capital to Revenue	-0.18%	4.13%	6.29%	4.37%	4.25%	11.91%	10.89%	7.06%	59.81%	-13.21%
Net Working Capital to Revenue	-0.18%	4.13%	6.29%	4.37%	4.25%	11.91%	10.89%	7.06%	59.81%	-13.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.91	$2.13	$1.63	$1.26	$1.89	$2.11	$1.13	$1.83	$2.10	$1.65
Adjusted Weighted Average Basic Shares Outstanding	123.20M	122.35M	121.67M	119.41M	117.82M	118.68M	115.64M	114.63M	114.41M	114.76M
Adjusted Diluted Earnings per Share	$3.87	$2.10	$1.62	$1.25	$1.88	$2.11	$1.13	$1.82	$2.09	$1.63
Adjusted Weighted Average Diluted Shares Outstanding	124.28M	124.08M	122.29M	120.07M	118.33M	119.24M	116.46M	115.72M	114.99M	115.53M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	122.80M	121.93M	120.52M	118.67M	116.31M	115.75M	115.04M	114.42M	114.42M	114.46M
Normalized Net Operating Profit after Tax (NOPAT)	499	274	213	163	137	262	143	223	267	224
Normalized NOPAT Margin	59.68%	40.80%	37.07%	29.68%	21.36%	43.11%	25.61%	35.09%	41.55%	26.26%
Pre Tax Income Margin	71.89%	48.16%	44.30%	34.86%	27.52%	47.94%	29.16%	41.59%	46.25%	28.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	27.25	14.86	12.10	9.44	8.46	12.95	8.15	12.81	6.52	6.14
NOPAT to Interest Expense	21.84	11.90	9.47	7.38	10.67	10.97	6.55	10.21	5.28	4.78
EBIT Less CapEx to Interest Expense	17.34	2.35	1.38	-4.52	-0.92	3.64	-7.04	-1.99	0.56	-1.41
NOPAT Less CapEx to Interest Expense	11.94	-0.62	-1.25	-6.59	1.29	1.66	-8.64	-4.59	-0.68	-2.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.19%	1.77%	3.01%	5.03%	8.75%	8.76%	9.88%	9.47%	9.60%	11.04%
Augmented Payout Ratio	1.77%	6.91%	10.72%	20.30%	37.96%	36.65%	39.30%	34.53%	22.49%	22.21%

Frequently Asked Questions About SM Energy's Financials

When does SM Energy's fiscal year end?

According to the most recent income statement we have on file, SM Energy's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has SM Energy's net income changed over the last 9 years?

SM Energy's net income appears to be on an upward trend, with a most recent value of $770.29 million in 2024, falling from -$447.71 million in 2015. The previous period was $817.88 million in 2023.

What is SM Energy's operating income?

SM Energy's total operating income in 2024 was $1.08 billion, based on the following breakdown:

Total Gross Profit: $2.05 billion
Total Operating Expenses: $977.59 million

How has SM Energy revenue changed over the last 9 years?

Over the last 9 years, SM Energy's total revenue changed from $1.56 billion in 2015 to $2.69 billion in 2024, a change of 72.8%.

How much debt does SM Energy have?

SM Energy's total liabilities were at $4.34 billion at the end of 2024, a 57.0% increase from 2023, and a 15.1% increase since 2015.

How much cash does SM Energy have?

In the past 9 years, SM Energy's cash and equivalents has ranged from $0.00 in 2024 to $616.16 million in 2023, and is currently $0.00 as of their latest financial filing in 2024.

How has SM Energy's book value per share changed over the last 9 years?

Over the last 9 years, SM Energy's book value per share changed from 27.25 in 2015 to 37.03 in 2024, a change of 35.9%.

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This page (NYSE:SM) was last updated on 4/14/2025 by MarketBeat.com Staff

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SM Energy (SM) Financials

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SM Energy (SM) Financials

Annual Income Statements for SM Energy

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