SM Energy (SM) Net Margin (2009 - 2026)
SM Energy's (SM) quarterly Net Margin came in at 22.65% in Q1 2026, down 4419.0% year-on-year from 0.52% in Q1 2025, and down 249.29% on a QoQ basis from 15.17% in Q4 2025.
SM Energy (SM) Net Margin (2009 - 2026) Analysis & Trends
SM Energy (SM) has 18 years of Net Margin data on file, last reported at 22.65% in Q1 2026.
- On a quarterly basis, Net Margin fell 4419.0% year-over-year to 22.65% in Q1 2026; TTM through Mar 2026 was 3.44%, a 2435.0% decrease from a year earlier, with the FY2025 full-year figure at 20.55%, down 828.0% from the prior year.
- Net Margin for Q1 2026 stood at 22.65%, down from 15.17% in the prior quarter.
- Over the last five years, Net Margin for SM reached as high as 58.15% in Q3 2022 and fell as low as 22.65% in Q1 2026.
- Historically, Net Margin has averaged 26.38% across 5 years, with a median of 27.21% in 2023.
- Across the five-year window, Net Margin soared 7230 bps in 2022 and sank 4419 bps in 2026, its largest moves.
- Year by year, Net Margin stood at 38.62% in 2022, then advanced by 7 bps to 41.28% in 2023, then plunged by 45 bps to 22.57% in 2024, then sank by 33 bps to 15.17% in 2025, then tumbled by 249 bps to 22.65% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 22.65% in Q1 2026, 15.17% in Q4 2025, and 19.11% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 141.43 Bn | 135.06 Bn | 9.48 Bn | 13.85% |
| 2 | Eog Resources | 74.61 Bn | 70.76 Bn | - | 28.61% |
| 3 | Diamondback Energy | 55.39 Bn | 55.39 Bn | 4.22 Bn | 3.40% |
| 4 | Woodside Energy | 41.28 Bn | 35.34 Bn | 2.71 Bn | 26.39% |
| 5 | Occidental Petroleum | 32.80 Bn | 28.99 Bn | 4.87 Bn | 60.71% |
| 6 | Eqt | 32.48 Bn | 32.37 Bn | 1.42 Bn | 15.55% |
| 7 | Texas Pacific Land | 27.36 Bn | 27.11 Bn | - | 60.34% |
| 8 | Devon Energy | 26.53 Bn | 24.72 Bn | 3.61 Bn | 4.79% |
| 9 | Expand Energy | 21.67 Bn | 19.37 Bn | 4.21 Bn | 26.36% |
| 10 | SM Energy | 6.05 Bn | 5.40 Bn | 1.05 Bn | -22.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -22.65% |
| Dec 31, 2025 | 15.17% |
| Sep 30, 2025 | 19.11% |
| Jun 30, 2025 | 25.43% |
| Mar 31, 2025 | 21.54% |
| Dec 31, 2024 | 22.57% |
| Sep 30, 2024 | 37.44% |
| Jun 30, 2024 | 33.20% |
| Mar 31, 2024 | 23.45% |
| Dec 31, 2023 | 41.28% |
| Sep 30, 2023 | 34.76% |
| Jun 30, 2023 | 27.21% |
| Mar 31, 2023 | 34.79% |
| Dec 31, 2022 | 38.62% |
| Sep 30, 2022 | 58.15% |
| Jun 30, 2022 | 32.66% |
| Mar 31, 2022 | 5.67% |
| Dec 31, 2021 | 48.43% |
| Sep 30, 2021 | 11.27% |
| Jun 30, 2021 | -39.64% |