Summit Midstream (SMC) Operating Margin (2023 - 2026)
Summit Midstream's (SMC) quarterly Operating Margin came in at 16.55% in Q1 2026, down 83.0% YoY from 97.34% in Q1 2025, and down 10.97% on a QoQ basis from 14.91% in Q4 2025.
Summit Midstream (SMC) Operating Margin (2023 - 2026) Analysis & Trends
Summit Midstream (SMC) has 4 years of Operating Margin data on file, last reported at 16.55% in Q1 2026.
- Quarterly Operating Margin fell 83.0% year-over-year to 16.55% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 13.88% (up 707.0% YoY) and the FY2025 annual result came in at 13.66%, up 2287.0% from the prior year.
- Operating Margin eased to 16.55% in Q1 2026, from 14.91% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 1.1% in Q3 2023 to a low of 71.4% in Q1 2024.
- A 4-year average of 20.1% and a median of 15.72% in 2025 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin slumped 2271 bps — and 2025, when it soared 5569 bps.
- Tracing SMC's Operating Margin over 4 years: stood at 7.84% in 2023, then tumbled by 290 bps to 30.55% in 2024, then soared by 51 bps to 14.91% in 2025, then fell by 11 bps to 16.55% in 2026.
- The last three Operating Margin figures came in at 16.55% (Q1 2026), 14.91% (Q4 2025), and 8.83% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 30.06% |
| 2 | Enbridge | 110.69 Bn | 109.19 Bn | 5.23 Bn | 9.93% |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 12.31% |
| 4 | Energy Transfer | 72.64 Bn | 71.61 Bn | 7.40 Bn | 10.41% |
| 5 | Tc Energy | 65.84 Bn | 58.29 Bn | 1.24 Bn | 29.84% |
| 6 | Mplx | 60.05 Bn | 59.02 Bn | 2.73 Bn | 41.61% |
| 7 | Oneok | 59.98 Bn | 59.82 Bn | 2.81 Bn | 13.22% |
| 8 | Targa Resources | 59.50 Bn | 59.37 Bn | 2.14 Bn | 27.80% |
| 9 | Cheniere Energy | 55.93 Bn | 54.68 Bn | 5.29 Bn | 74.84% |
| 10 | Summit Midstream | 481.04 Mn | 460.07 Mn | 105.92 Mn | -15.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -15.56% |
| Mar 31, 2026 | -16.55% |
| Dec 31, 2025 | -14.91% |
| Sep 30, 2025 | -8.83% |
| Jun 30, 2025 | -15.48% |
| 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% |