SM Energy (SM) Invested Capital (2009 - 2026)
SM Energy (SM) posted Invested Capital of $15.27 billion for Q2 2026, up 109.1% from $7.3 billion a year earlier but down 5.1% from the prior quarter.
Powered by 
Analysis
SM Energy (SM) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, SM Energy's Invested Capital came in at $7.94 billion, up 14.4% from FY2024.
- Annual Invested Capital has increased for five consecutive years, with a five-year compound annual growth rate of 13.9% (FY2020 to FY2025).
- In prior years, SM Energy's Invested Capital was $6.95 billion in FY2024 (+33.8%), $5.19 billion in FY2023 (+11.5%), $4.66 billion in FY2022 (+12.4%) and $4.14 billion in FY2021 (+0.2%).
- Quarterly Invested Capital has run from a low of $3.71 billion in Q3 2021 to a high of $16.08 billion in Q1 2026 over five years.
- On a year-over-year basis, Invested Capital has increased in each of the last 19 quarters, with growth averaging 50.6% over the last eight quarters.
- The strongest year-over-year quarter for Invested Capital in the past five years was Q1 2026, with growth of 126.0%; the weakest was Q3 2021, with a decline of 14.8%.
- According to Business Quant data, Invested Capital for the three prior quarters was $16.08 billion (Q1 2026), $7.94 billion (Q4 2025) and $7.84 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 540.77 Bn | 451.32 Bn | 30.13 Bn | 247.38 Bn |
| 2 | Chevron | 403.83 Bn | 381.62 Bn | 33.45 Bn | 195.96 Bn |
| 3 | TotalEnergies SE | 188.75 Bn | 71.88 Bn | - | 33.10 Bn |
| 4 | Eni Spa | 170.81 Bn | 120.33 Bn | - | 102.84 Bn |
| 5 | Conocophillips | 150.42 Bn | 123.13 Bn | 12.81 Bn | 88.64 Bn |
| 6 | Equinor Asa | 104.06 Bn | 50.12 Bn | - | - |
| 7 | Phillips 66 | 101.90 Bn | 90.89 Bn | 8.38 Bn | 53.27 Bn |
| 8 | Canadian Natural Resources | 97.96 Bn | 94.91 Bn | - | 20.96 Bn |
| 9 | Suncor Energy | 80.99 Bn | 66.79 Bn | - | 58.02 Bn |
| 10 | SM Energy | 8.03 Bn | 6.43 Bn | 1.94 Bn | 15.27 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 15.27 Bn |
| Mar 31, 2026 | 16.08 Bn |
| Dec 31, 2025 | 7.94 Bn |
| Sep 30, 2025 | 7.84 Bn |
| Jun 30, 2025 | 7.30 Bn |
| Mar 31, 2025 | 7.11 Bn |
| Dec 31, 2024 | 6.95 Bn |
| Sep 30, 2024 | 6.77 Bn |
| Jun 30, 2024 | 5.42 Bn |
| Mar 31, 2024 | 5.27 Bn |
| Dec 31, 2023 | 5.19 Bn |
| Sep 30, 2023 | 4.98 Bn |
| Jun 30, 2023 | 4.87 Bn |
| Mar 31, 2023 | 4.80 Bn |
| Dec 31, 2022 | 4.66 Bn |
| Sep 30, 2022 | 4.44 Bn |
| Jun 30, 2022 | 4.02 Bn |
| Mar 31, 2022 | 4.10 Bn |
| Dec 31, 2021 | 4.14 Bn |
| Sep 30, 2021 | 3.71 Bn |
API Access
SM Energy Invested Capital 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=invested-capital&ticker=SM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=SM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();