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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

SM Energy (SM) Gross Margin (2016 - 2026)

SM Energy has reported Gross Margin over the past 17 years, most recently at 71.2% for Q4 2025.

  • Quarterly Gross Margin fell 361.0% to 71.2% in Q4 2025 from the year-ago period, while the trailing twelve-month figure was 71.95% through Dec 2025, down 436.0% year-over-year, with the annual reading at 71.94% for FY2025, 438.0% down from the prior year.
  • Gross Margin was 71.2% for Q4 2025 at SM Energy, down from 71.78% in the prior quarter.
  • Over five years, Gross Margin peaked at 83.28% in Q2 2022 and troughed at 71.2% in Q4 2025.
  • The 5-year median for Gross Margin is 77.28% (2021), against an average of 77.13%.
  • Year-over-year, Gross Margin surged 2512bps in 2021 and then plummeted -992bps in 2023.
  • A 5-year view of Gross Margin shows it stood at 83.24% in 2021, then decreased by -7bps to 77.49% in 2022, then decreased by 0bps to 77.3% in 2023, then fell by -3bps to 74.81% in 2024, then fell by -5bps to 71.2% in 2025.
  • Per Business Quant, the three most recent readings for SM's Gross Margin are 71.2% (Q4 2025), 71.78% (Q3 2025), and 71.47% (Q2 2025).