Summit Midstream (SMC) Gross Margin (2023 - 2026)
Summit Midstream's (SMC) quarterly Gross Margin came in at 71.7% in Q1 2026, down 159.0% YoY from 121.53% in Q1 2025, and down 0.6% on a QoQ basis from 72.13% in Q4 2025.
Summit Midstream (SMC) Gross Margin (2023 - 2026) Analysis & Trends
Summit Midstream (SMC) has 4 years of Gross Margin data on file, last reported at 71.7% in Q1 2026.
- Quarterly Gross Margin fell 159.0% year-over-year to 71.7% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 73.08% (up 19.0% YoY) and the FY2025 annual result came in at 73.47%, up 23.0% from the prior year.
- Gross Margin retreated to 71.7% in Q1 2026, from 72.13% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 77.63% in Q3 2023 to a low of 70.77% in Q2 2024.
- A 4-year average of 73.52% and a median of 73.3% in 2025 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2024 — Gross Margin tumbled 521 bps — and 2025, when it soared 362 bps.
- Tracing SMC's Gross Margin over 4 years: stood at 72.91% in 2023, then gained by 3 bps to 74.82% in 2024, then slipped by 4 bps to 72.13% in 2025, then slipped by 1 bps to 71.7% in 2026.
- The last three Gross Margin figures came in at 71.7% (Q1 2026), 72.13% (Q4 2025), and 74.04% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 68.62% |
| 2 | Enbridge | 110.90 Bn | 109.41 Bn | 5.23 Bn | 24.69% |
| 3 | Enterprise Products Partners | 83.55 Bn | 82.64 Bn | - | - |
| 4 | Energy Transfer | 72.76 Bn | 71.73 Bn | 7.40 Bn | 21.55% |
| 5 | Tc Energy | 65.92 Bn | 58.36 Bn | 1.24 Bn | 95.91% |
| 6 | Oneok | 60.17 Bn | 60.01 Bn | 2.81 Bn | 23.30% |
| 7 | Mplx | 60.12 Bn | 59.09 Bn | 2.73 Bn | 82.28% |
| 8 | Targa Resources | 59.64 Bn | 59.50 Bn | 2.14 Bn | 48.15% |
| 9 | Cheniere Energy | 56.21 Bn | 54.95 Bn | 5.29 Bn | 92.34% |
| 10 | Summit Midstream | 481.04 Mn | 460.07 Mn | 105.92 Mn | 68.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 68.33% |
| Mar 31, 2026 | 71.70% |
| Dec 31, 2025 | 72.13% |
| Sep 30, 2025 | 74.04% |
| Jun 30, 2025 | 74.39% |
| Mar 31, 2025 | 73.30% |
| Dec 31, 2024 | 74.82% |
| Sep 30, 2024 | 72.42% |
| Jun 30, 2024 | 70.77% |
| Mar 31, 2024 | 74.61% |
| Dec 31, 2023 | 72.91% |
| Sep 30, 2023 | 77.63% |