SM Energy (SM) Net Margin (2009 - 2026)
SM Energy (SM) posted quarterly Net Margin of 22.65% for Q1 2026, down 4419.0% 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 reported Net Margin for 18 consecutive years, with 22.65% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin fell 4419.0% year-over-year to 22.65%; the TTM figure through Mar 2026 stood at 3.44% (down 2435.0% YoY), while the FY2025 annual figure was 20.55%, down 828.0% from the prior year.
- Net Margin fell to 22.65% in Q1 2026 per SM's latest filing, from 15.17% in the prior quarter.
- Across five years, Net Margin topped out at 58.15% in Q3 2022 and bottomed at 22.65% in Q1 2026.
- Historically, Net Margin has averaged 26.38% across 5 years, with a median of 27.21% in 2023.
- Annual changes were most pronounced in 2022 — Net Margin surged 7230 bps — and 2026, when it tumbled 4419 bps.
- SM Energy's Net Margin stood at 38.62% in 2022, then rose 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.
- Business Quant data shows SM's Net Margin at 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 | 164.07 Bn | 156.38 Bn | 12.81 Bn | 20.14% |
| 2 | Canadian Natural Resources | 106.74 Bn | 104.85 Bn | 10.66 Bn | 0.01% |
| 3 | Eog Resources | 80.19 Bn | 75.28 Bn | - | 31.60% |
| 4 | Diamondback Energy | 59.28 Bn | 58.82 Bn | 5.55 Bn | 36.95% |
| 5 | Woodside Energy | 46.13 Bn | 40.19 Bn | 6.02 Bn | 32.93% |
| 6 | Devon Energy | 46.09 Bn | 45.08 Bn | 6.02 Bn | 22.14% |
| 7 | Occidental Petroleum | 39.12 Bn | 34.97 Bn | 7.73 Bn | 34.80% |
| 8 | Eqt | 33.73 Bn | 33.62 Bn | 1.42 Bn | 15.55% |
| 9 | Texas Pacific Land | 26.27 Bn | 26.02 Bn | - | 62.56% |
| 10 | SM Energy | 8.95 Bn | 8.18 Bn | 1.94 Bn | 42.84% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 42.84% |
| 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% |