SM Energy (SM) Cost of Revenue (2009 - 2026)

SM Energy (SM) has reported Cost of Revenue for 18 consecutive years, with $428.0 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Cost of Revenue rose 90.22% year-over-year to $428.0 million; the TTM figure through Mar 2026 stood at $1.1 billion (up 50.14% YoY), while the FY2025 annual figure was $885.0 million, up 38.93% from the prior year.
• Cost of Revenue improved to $428.0 million in Q1 2026 per SM's latest filing, from $206.9 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $428.0 million in Q1 2026 and bottomed at $136.6 million in Q2 2024.
• Historically, Cost of Revenue has averaged $184.4 million across 5 years, with a median of $150.7 million in 2022.
• Annual changes were most pronounced in 2023 — Cost of Revenue declined 13.56% — and 2026, when it soared 90.22%.
• SM Energy's Cost of Revenue stood at $150.7 million in 2022, then fell by 8.54% to $137.8 million in 2023, then surged by 55.75% to $214.6 million in 2024, then slipped by 3.61% to $206.9 million in 2025, then surged by 106.88% to $428.0 million in 2026.
• Business Quant data shows SM's Cost of Revenue at $428.0 million in Q1 2026, $206.9 million in Q4 2025, and $229.0 million in Q3 2025.