SM Energy (SM) Gross Margin (2009 - 2026)

SM Energy (SM) has 18 years of Gross Margin data on file, last reported at 71.06% in Q1 2026.

• Gross Margin for Q1 2026 came in at 71.06%, down 215.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 71.38% (down 422.0% YoY), and the FY2025 annual result was 71.94%, down 438.0% from the prior year.
• Gross Margin was little changed at 71.06% in Q1 2026 per SM's latest filing, from 71.2% in the prior quarter.
• Over five years, Gross Margin peaked at 83.31% in Q2 2022 and troughed at 71.06% in Q1 2026.
• A 5-year average of 76.11% and a median of 75.45% in 2024 frame the typical range for Gross Margin.
• The sharpest annual moves came in 2022 and 2023: Gross Margin soared 591 bps in 2022, then tumbled 974 bps in 2023.
• A 5-year view of Gross Margin shows it stood at 77.49% in 2022, then declined by 0 bps to 77.3% in 2023, then slipped by 3 bps to 74.81% in 2024, then slipped by 5 bps to 71.2% in 2025, then retreated by 0 bps to 71.06% in 2026.
• Business Quant data shows SM's Gross Margin at 71.06% in Q1 2026, 71.2% in Q4 2025, and 71.76% in Q3 2025.