SM Energy (SM) Research & Development (2009 - 2026)
SM Energy (SM) reported Research & Development of $26.0 million for Q1 2026, up 116.67% year-over-year from $12.0 million in Q1 2025, and up 41.69% quarter-over-quarter from $18.3 million in Q4 2025.
SM Energy (SM) Research & Development (2009 - 2026) Analysis & Trends
SM Energy (SM) has 18 years of Research & Development data on file, last reported at $26.0 million in Q1 2026.
- Research & Development for Q1 2026 came in at $26.0 million, up 116.67% year-over-year; the trailing twelve-month figure through Mar 2026 was $71.2 million (up 24.07% YoY), and the FY2025 annual result was $57.0 million, down 10.94% from the prior year.
- Research & Development improved to $26.0 million in Q1 2026 per SM's latest filing, from $18.3 million in the prior quarter.
- Over five years, Research & Development peaked at $26.0 million in Q1 2026 and troughed at $9.0 million in Q1 2022.
- A 5-year average of $15.4 million and a median of $15.4 million in 2025 frame the typical range for Research & Development.
- The sharpest annual moves came in 2022 and 2025: Research & Development soared 139.48% in 2022, then plunged 35.42% in 2025.
- A 5-year view of Research & Development shows it stood at $10.8 million in 2022, then jumped by 41.95% to $15.4 million in 2023, then climbed by 5.6% to $16.2 million in 2024, then grew by 13.08% to $18.3 million in 2025, then surged by 41.69% to $26.0 million in 2026.
- Business Quant data shows SM's Research & Development at $26.0 million in Q1 2026, $18.3 million in Q4 2025, and $11.5 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Woodside Energy | 630.08 Bn | 624.14 Bn | - | - |
| 2 | Canadian Natural Resources | 388.31 Bn | 388.31 Bn | 6.72 Bn | - |
| 3 | Conocophillips | 142.98 Bn | 136.61 Bn | 9.48 Bn | 109.00 Mn |
| 4 | Eog Resources | 72.93 Bn | 69.08 Bn | - | 45.00 Mn |
| 5 | Occidental Petroleum | 55.91 Bn | 52.73 Bn | 4.87 Bn | 110.00 Mn |
| 6 | Diamondback Energy | 54.95 Bn | 61.11 Bn | 4.22 Bn | - |
| 7 | Vista Energy, S.A.B. de C.V | 35.18 Bn | 34.56 Bn | 472.36 Mn | - |
| 8 | Eqt | 32.94 Bn | 36.28 Bn | 2.98 Bn | 430,000.00 |
| 9 | Vermilion Energy | 31.24 Bn | 31.05 Bn | 370.10 Mn | -316,475.27 |
| 10 | SM Energy | 6.19 Bn | 5.54 Bn | 1.05 Bn | 26.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 26.00 Mn |
| Dec 31, 2025 | 18.35 Mn |
| Sep 30, 2025 | 11.53 Mn |
| Jun 30, 2025 | 15.36 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 |
| Sep 30, 2021 | 8.71 Mn |
| Jun 30, 2021 | 8.71 Mn |