Summit Midstream (SMC) Operating Margin (2023 - 2026)
Summit Midstream's (SMC) quarterly Operating Margin came in at 15.56% in Q2 2026, up 229.0% on a YoY basis from 4.73% in Q2 2025, and up 5.95% quarter-over-quarter from 16.55% in Q1 2026.
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Summit Midstream (SMC) Operating Margin (2023 - 2026) Analysis & Trends
Summit Midstream (SMC) has reported Operating Margin for 4 consecutive years, with 15.56% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 229.0% year-over-year to 15.56%; the trailing twelve-month figure through Jun 2026 stood at 13.7% (up 603.0% YoY), and the FY2025 full-year result was 13.66%, up 2287.0% from the prior year.
- Operating Margin grew to 15.56% in Q2 2026 per SMC's latest filing, from 16.55% in the prior quarter.
- Across five years, Operating Margin topped out at 1.1% in Q3 2023 and bottomed at 71.4% in Q1 2024.
- Historically, Operating Margin has averaged 19.83% across 4 years, with a median of 15.96% in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Margin tumbled 2271 bps in 2024, then jumped 5569 bps in 2025.
- Over 4 years, Operating Margin stood at 7.84% in 2023, then sank by 290 bps to 30.55% in 2024, then soared by 55 bps to 13.76% in 2025, then declined by 13 bps to 15.56% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 15.56%, 16.55%, and 13.76% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 111.69 Bn | 112.81 Bn | 3.07 Bn | 30.06% |
| 2 | Enterprise Products Partners | 84.07 Bn | 83.21 Bn | - | 12.31% |
| 3 | Energy Transfer | 74.03 Bn | 73.00 Bn | 7.40 Bn | 10.41% |
| 4 | Tc Energy | 65.16 Bn | 64.62 Bn | 1.80 Bn | - |
| 5 | Targa Resources | 62.18 Bn | 62.19 Bn | 2.14 Bn | 27.80% |
| 6 | Mplx | 60.51 Bn | 59.48 Bn | 2.73 Bn | 41.61% |
| 7 | Oneok | 60.16 Bn | 60.09 Bn | 2.81 Bn | 13.22% |
| 8 | Enbridge | 54.38 Bn | 54.88 Bn | 5.23 Bn | 9.93% |
| 9 | Pembina Pipeline | 28.12 Bn | 27.76 Bn | 933.00 Mn | 37.45% |
| 10 | Summit Midstream | 694.72 Mn | 994.24 Mn | 105.92 Mn | -15.56% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -15.56% |
| Mar 31, 2026 | -16.55% |
| Dec 31, 2025 | -13.76% |
| Sep 30, 2025 | -8.98% |
| Jun 30, 2025 | -17.86% |
| Mar 31, 2025 | -15.72% |
| Dec 31, 2024 | -30.55% |
| Sep 30, 2024 | -16.21% |
| Jun 30, 2024 | -22.47% |
| Mar 31, 2024 | -71.40% |
| Dec 31, 2023 | -7.84% |
| Sep 30, 2023 | -1.10% |