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SM Energy (SM) Operating Expenses (2016 - 2025)

SM Energy (SM) has disclosed Operating Expenses for 17 consecutive years, with $522.6 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses fell 7.62% to $522.6 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $2.2 billion through Dec 2025, up 33.37% year-over-year, with the annual reading at $2.2 billion for FY2025, 33.37% up from the prior year.
  • Operating Expenses for Q4 2025 was $522.6 million at SM Energy, down from $565.1 million in the prior quarter.
  • The five-year high for Operating Expenses was $758.0 million in Q1 2022, with the low at $213.2 million in Q3 2022.
  • Average Operating Expenses over 5 years is $467.4 million, with a median of $462.3 million recorded in 2022.
  • The sharpest move saw Operating Expenses plummeted 66.38% in 2022, then soared 108.9% in 2023.
  • Over 5 years, Operating Expenses stood at $380.5 million in 2021, then decreased by 13.64% to $328.7 million in 2022, then decreased by 9.07% to $298.8 million in 2023, then soared by 89.3% to $565.7 million in 2024, then decreased by 7.62% to $522.6 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $522.6 million, $565.1 million, and $498.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.