SM Energy (SM) Research & Development (2009 - 2026)
SM Energy (SM) reported Research & Development of $22 million for Q3 2026, up 83.3% from $12 million a year earlier and up 4.8% from the prior quarter.
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Analysis
SM Energy (SM) Research & Development (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, SM Energy's Research & Development came in at $87 million, up 57.5% year-over-year; for FY2025, it was $57 million, down 10.9% from FY2024.
- Research & Development has a five-year compound annual growth rate of 6.8% (FY2020 to FY2025).
- By year, Research & Development came in at $64 million in FY2024 (+8.5%), $59 million in FY2023 (+7.4%), $54.94 million in FY2022 (+39.8%) and $39.3 million in FY2021 (-4.1%).
- Five-year quarterly Research & Development spans a low of $9.05 million in Q1 2022 and a high of $26 million in Q1 2026.
- Year over year, Research & Development has now increased in each of the last four quarters, with growth averaging 26.0% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q2 2022 (growth of 139.5%); the low point was Q1 2025 (a decline of 35.4%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $21 million (Q2 2026), $26 million (Q1 2026) and $18 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 116.00 Mn |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | - |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 259.00 Mn |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | 134.00 Mn |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | - |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 60.00 Mn |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 311.00 Mn |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | - |
| 10 | SM Energy | 7.71 Bn | 5.83 Bn | 1.60 Bn | 22.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 22.00 Mn |
| Jun 30, 2026 | 21.00 Mn |
| Mar 31, 2026 | 26.00 Mn |
| Dec 31, 2025 | 18.00 Mn |
| Sep 30, 2025 | 12.00 Mn |
| Jun 30, 2025 | 15.00 Mn |
| Mar 31, 2025 | 12.00 Mn |
| Dec 31, 2024 | 16.23 Mn |
| Sep 30, 2024 | 12.10 Mn |
| Jun 30, 2024 | 17.09 Mn |
| Mar 31, 2024 | 18.58 Mn |
| Dec 31, 2023 | 15.37 Mn |
| Sep 30, 2023 | 10.25 Mn |
| Jun 30, 2023 | 14.96 Mn |
| Mar 31, 2023 | 18.43 Mn |
| Dec 31, 2022 | 10.83 Mn |
| Sep 30, 2022 | 14.20 Mn |
| Jun 30, 2022 | 20.87 Mn |
| Mar 31, 2022 | 9.05 Mn |
| Dec 31, 2021 | 12.55 Mn |
API Access
SM Energy Research & Development 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=research-and-development&ticker=SM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=SM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();