SM Energy (SM) Net Margin (2009 - 2026)
SM Energy (SM) recorded Net Margin of 42.84% in Q2 2026, up 17.37 percentage points from 25.47% a year earlier and up 65.49 percentage points from the prior quarter.
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Analysis
SM Energy (SM) Net Margin (2009 - 2026) Analysis & Trends
On a TTM basis, SM Energy's Net Margin came in at 18.20% as of Jun 30, 2026, down 7.73 percentage points year-over-year; for FY2025, it was 20.55%, down 8.08 percentage points from FY2024.
- Annual Net Margin has a five-year change of +88.41 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 28.62% in FY2024 (-5.83 pp), 34.46% in FY2023 (+1.35 pp), 33.11% in FY2022 (+31.73 pp) and 1.38% in FY2021 (+69.25 pp).
- The Q2 2026 figure is the highest quarterly Net Margin since Q3 2022.
- On a year-over-year basis, Net Margin rose in two of the last eight quarters, with an average year-over-year change of -9.64 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 101.27 percentage points in Q4 2021, against a drop of 44.19 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at -22.65% (Q1 2026), 15.46% (Q4 2025) and 19.11% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 548.90 Bn | 459.45 Bn | 30.13 Bn | 11.43% |
| 2 | Chevron | 407.58 Bn | 385.38 Bn | 33.45 Bn | 17.23% |
| 3 | TotalEnergies SE | 199.37 Bn | 82.49 Bn | - | 8.80% |
| 4 | Eni Spa | 174.90 Bn | 124.42 Bn | - | 13.62% |
| 5 | Conocophillips | 151.32 Bn | 124.03 Bn | 12.81 Bn | 20.14% |
| 6 | Equinor Asa | 105.71 Bn | 51.77 Bn | - | 9.17% |
| 7 | Phillips 66 | 101.18 Bn | 90.17 Bn | 8.38 Bn | 7.39% |
| 8 | Canadian Natural Resources | 99.04 Bn | 95.99 Bn | - | 30.55% |
| 9 | Suncor Energy | 82.08 Bn | 67.87 Bn | - | 21.33% |
| 10 | SM Energy | 7.97 Bn | 6.37 Bn | 1.94 Bn | 42.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 42.84% |
| Mar 31, 2026 | -22.65% |
| Dec 31, 2025 | 15.46% |
| Sep 30, 2025 | 19.11% |
| Jun 30, 2025 | 25.47% |
| Mar 31, 2025 | 21.54% |
| Dec 31, 2024 | 22.06% |
| Sep 30, 2024 | 37.37% |
| Jun 30, 2024 | 33.14% |
| Mar 31, 2024 | 23.43% |
| Dec 31, 2023 | 40.61% |
| Sep 30, 2023 | 34.69% |
| Jun 30, 2023 | 27.21% |
| Mar 31, 2023 | 34.62% |
| Dec 31, 2022 | 38.50% |
| Sep 30, 2022 | 57.60% |
| Jun 30, 2022 | 32.61% |
| Mar 31, 2022 | 5.67% |
| Dec 31, 2021 | 49.70% |
| Sep 30, 2021 | 11.26% |
API Access
SM Energy Net Margin 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=net-margin&ticker=SM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=SM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();