Summit Midstream (SMC) Operating Margin (2023 - 2026)
Summit Midstream (SMC) posted Operating Margin of 15.72% for Q1 2026, down 5.41% on a QoQ basis from 14.91% in Q4 2025, and down 144.0% year-over-year from 35.72% in Q1 2025.
Summit Midstream (SMC) Operating Margin (2023 - 2026) Analysis & Trends
Summit Midstream (SMC) has reported Operating Margin for 4 consecutive years, with 15.72% the latest figure, recorded in Q1 2026.
- Operating Margin for Q1 2026 came in at 15.72%, down 144.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 13.72% (up 1021.0% YoY), and the FY2025 annual result was 13.66%, up 2287.0% from the prior year.
- Operating Margin was 15.72% for Q1 2026 at Summit Midstream, down from 14.91% in the prior quarter.
- Over five years, Operating Margin peaked at 1.1% in Q3 2023 and troughed at 71.4% in Q1 2024.
- A 4-year average of 21.38% and a median of 15.48% in 2025 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin plunged 3473 bps — and 2025, when it surged 5712 bps.
- Year by year, Operating Margin stood at 9.94% in 2023, then sank by 349 bps to 44.68% in 2024, then jumped by 67 bps to 14.91% in 2025, then dropped by 5 bps to 15.72% in 2026.
- Per Business Quant, the three latest SMC Operating Margin figures stand at 15.72% (Q1 2026), 14.91% (Q4 2025), and 8.98% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 20.68% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 39.96% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 10.03% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 25.03% |
| 10 | Summit Midstream | 351.13 Mn | 626.92 Mn | 100.93 Mn | -15.72% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -15.72% |
| Dec 31, 2025 | -14.91% |
| Sep 30, 2025 | -8.98% |
| Jun 30, 2025 | -15.48% |
| Mar 31, 2025 | -14.28% |
| Dec 31, 2024 | -44.68% |
| Sep 30, 2024 | -16.21% |
| Jun 30, 2024 | -22.47% |
| Mar 31, 2024 | -71.40% |
| Dec 31, 2023 | -9.94% |
| Sep 30, 2023 | -1.10% |