SM Energy (SM) Capital Expenditures (2009 - 2026)
SM Energy's Capital Expenditures was $754 million in Q2 2026, up 83.9% from $410 million a year earlier and up 35.9% from the prior quarter.
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Analysis
SM Energy (SM) Capital Expenditures (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, SM Energy's Capital Expenditures was $1.92 billion through Jun 30, 2026, down 15.4% year-over-year; for FY2025, it was $1.44 billion, down 31.7% from FY2024.
- Capital Expenditures shows a five-year compound annual growth rate of 21.3% (FY2020 to FY2025).
- In earlier years, Capital Expenditures was $2.1 billion in FY2024 (+112.7%), $989 million in FY2023 (+12.4%), $879.93 million in FY2022 (+30.4%) and $674.84 million in FY2021 (+23.2%).
- The Q2 2026 figure marks the highest quarterly Capital Expenditures since Q4 2024.
- Compared with a year earlier, Capital Expenditures was higher in seven of the last eight quarters, with growth averaging 71.9%.
- The best year-over-year quarter for Capital Expenditures over five years was Q4 2024 (growth of 416.0%); the worst was Q4 2025 (a decline of 81.1%).
- Per Business Quant data, SM's Capital Expenditures in the three quarters before Q2 2026 was $555 million (Q1 2026), $216.26 million (Q4 2025) and $397.74 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 541.34 Bn | 451.89 Bn | 30.13 Bn | -4.24 Bn |
| 2 | Chevron | 403.85 Bn | 381.64 Bn | 33.45 Bn | 4.54 Bn |
| 3 | TotalEnergies SE | 193.34 Bn | 76.47 Bn | - | -5.25 Bn |
| 4 | Eni Spa | 172.00 Bn | 121.52 Bn | - | - |
| 5 | Conocophillips | 150.68 Bn | 123.39 Bn | 12.81 Bn | 3.02 Bn |
| 6 | Equinor Asa | 103.39 Bn | 49.45 Bn | - | 2.87 Bn |
| 7 | Phillips 66 | 100.64 Bn | 89.62 Bn | 8.38 Bn | 726.00 Mn |
| 8 | Canadian Natural Resources | 98.19 Bn | 95.14 Bn | - | - |
| 9 | Suncor Energy | 80.57 Bn | 66.37 Bn | - | 1.35 Bn |
| 10 | SM Energy | 7.86 Bn | 6.26 Bn | 1.94 Bn | 754.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 754.00 Mn |
| Mar 31, 2026 | 555.00 Mn |
| Dec 31, 2025 | 216.26 Mn |
| Sep 30, 2025 | 397.74 Mn |
| Jun 30, 2025 | 410.00 Mn |
| Mar 31, 2025 | 414.00 Mn |
| Dec 31, 2024 | 1.15 Bn |
| Sep 30, 2024 | 302.11 Mn |
| Jun 30, 2024 | 322.68 Mn |
| Mar 31, 2024 | 332.37 Mn |
| Dec 31, 2023 | 222.24 Mn |
| Sep 30, 2023 | 216.71 Mn |
| Jun 30, 2023 | 309.33 Mn |
| Mar 31, 2023 | 240.71 Mn |
| Dec 31, 2022 | 288.09 Mn |
| Sep 30, 2022 | 226.10 Mn |
| Jun 30, 2022 | 215.62 Mn |
| Mar 31, 2022 | 150.13 Mn |
| Dec 31, 2021 | 124.58 Mn |
| Sep 30, 2021 | 180.09 Mn |
API Access
SM Energy Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=SM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "SM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=SM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();