SM Energy (SM) Net Margin (2009 - 2026)
SM Energy (SM) reported Net Margin of 22.65% for Q1 2026, down 4432.0% year-over-year from 0.52% in Q1 2025, and down 249.29% quarter-over-quarter 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.
- Net Margin for Q1 2026 came in at 22.65%, down 4432.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 3.44% (down 2420.0% YoY), and the FY2025 annual result was 20.55%, down 808.0% from the prior year.
- Net Margin slipped to 22.65% in Q1 2026 per SM's latest filing, from 15.17% in the prior quarter.
- Over five years, Net Margin peaked at 57.6% in Q3 2022 and troughed at 22.65% in Q1 2026.
- A 5-year average of 26.27% and a median of 27.21% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2022 and 2026: Net Margin soared 7215 bps in 2022, then slumped 4432 bps in 2026.
- A 5-year view of Net Margin shows it stood at 38.62% in 2022, then increased by 5 bps to 40.73% in 2023, then tumbled by 46 bps to 22.06% in 2024, then plunged by 31 bps to 15.17% in 2025, then slumped by 249 bps to 22.65% in 2026.
- Business Quant data shows SM's Net Margin at 22.65% in Q1 2026, 15.17% in Q4 2025, and 19.12% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Woodside Energy | 630.08 Bn | 624.14 Bn | - | - |
| 2 | Canadian Natural Resources | 388.31 Bn | 388.31 Bn | 6.72 Bn | 0.01% |
| 3 | Conocophillips | 142.98 Bn | 136.61 Bn | 9.48 Bn | 13.85% |
| 4 | Eog Resources | 72.93 Bn | 69.08 Bn | - | 28.61% |
| 5 | Occidental Petroleum | 55.91 Bn | 52.73 Bn | 4.87 Bn | 60.71% |
| 6 | Diamondback Energy | 54.95 Bn | 61.11 Bn | 4.22 Bn | 3.40% |
| 7 | Vista Energy, S.A.B. de C.V | 35.18 Bn | 34.56 Bn | 472.36 Mn | 20.73% |
| 8 | Eqt | 32.94 Bn | 36.28 Bn | 2.98 Bn | 45.99% |
| 9 | Vermilion Energy | 31.24 Bn | 31.05 Bn | 370.10 Mn | -843.90% |
| 10 | SM Energy | 6.19 Bn | 5.54 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 | 19.12% |
| Jun 30, 2025 | 25.43% |
| Mar 31, 2025 | 21.67% |
| Dec 31, 2024 | 22.06% |
| Sep 30, 2024 | 37.37% |
| Jun 30, 2024 | 33.14% |
| Mar 31, 2024 | 23.45% |
| Dec 31, 2023 | 40.73% |
| Sep 30, 2023 | 34.76% |
| Jun 30, 2023 | 27.21% |
| Mar 31, 2023 | 34.62% |
| Dec 31, 2022 | 38.62% |
| Sep 30, 2022 | 57.60% |
| Jun 30, 2022 | 32.61% |
| Mar 31, 2022 | 5.67% |
| Dec 31, 2021 | 49.70% |
| Sep 30, 2021 | 11.27% |
| Jun 30, 2021 | -39.55% |