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.

• On a quarterly basis, Gross Margin fell 231.0% year-over-year to 71.06% in Q1 2026; TTM through Mar 2026 was 71.38%, a 408.0% decrease from a year earlier, with the FY2025 full-year figure at 71.94%, down 421.0% from the prior year.
• Gross Margin for Q1 2026 stood at 71.06%, roughly flat from 71.2% in the prior quarter.
• Over the last five years, Gross Margin for SM reached as high as 83.28% in Q2 2022 and fell as low as 71.06% in Q1 2026.
• Historically, Gross Margin has averaged 76.05% across 5 years, with a median of 75.45% in 2024.
• Across the five-year window, Gross Margin jumped 591 bps in 2022 and slumped 971 bps in 2023, its largest moves.
• Year by year, Gross Margin stood at 77.49% in 2022, then slipped by 1 bps to 76.99% in 2023, then declined by 4 bps to 74.23% in 2024, then fell by 4 bps to 71.2% in 2025, then dropped by 0 bps to 71.06% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 71.06% in Q1 2026, 71.2% in Q4 2025, and 71.78% in Q3 2025.