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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

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

SM Energy (SM) has disclosed Operating Margin for 17 consecutive years, with 25.98% as the latest value for Q4 2025.

  • On a quarterly basis, Operating Margin fell 763.0% to 25.98% in Q4 2025 year-over-year; TTM through Dec 2025 was 31.87%, a 814.0% decrease, with the full-year FY2025 number at 31.87%, down 813.0% from a year prior.
  • Operating Margin was 25.98% for Q4 2025 at SM Energy, down from 30.37% in the prior quarter.
  • In the past five years, Operating Margin ranged from a high of 75.19% in Q3 2022 to a low of 47.52% in Q1 2021.
  • A 5-year average of 31.91% and a median of 35.59% in 2024 define the central range for Operating Margin.
  • Peak YoY movement for Operating Margin: soared 15247bps in 2021, then crashed -4462bps in 2023.
  • SM Energy's Operating Margin stood at 57.16% in 2021, then decreased by -12bps to 50.24% in 2022, then increased by 3bps to 51.77% in 2023, then crashed by -35bps to 33.62% in 2024, then fell by -23bps to 25.98% in 2025.
  • Per Business Quant, the three most recent readings for SM's Operating Margin are 25.98% (Q4 2025), 30.37% (Q3 2025), and 37.56% (Q2 2025).