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SM Energy Co SM

NYSE · stock · Crude Petroleum & Natural Gas · website · IPO 1992-12-16 · LEI

SM Energy Co statistics & valuation

P / E9.7×
P / S2.0×
P / B1.3×
Net margin20.5%
Return on capital12.4%
Graham number +124.7%$72.85

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($72.85); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-62.20% -12.80% 24.60% -11.80% -67.90% 1.40% 33.10% 34.50% 28.60% 20.50% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
-86.80% -13.10% 40.50% -4.40% -94.90% 8.00% 47.00% 41.60% 40.00% 31.70% 2016201720182019202020212022202320242025
Return on equity (%)
-30.30% -6.70% 17.40% -6.80% -37.90% 1.80% 36.00% 22.60% 18.20% 13.50% 2016201720182019202020212022202320242025
Shares outstanding
111.3M 111.7M 113.5M 113.0M 114.7M 123.7M 124.1M 119.0M 116.0M 115.0M 2016201720182019202020212022202320242025
Net debt ($)
$2.61B $2.21B $1.75B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-11.90% -2.60% 8.00% -3.00% -15.40% 0.70% 19.50% 12.80% 9.00% 7.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.95× 1.10× 1.01× 2016201720182019202020212022202320242025
EPS ($)
-$9.90 -$1.44 $4.48 -$1.66 -$6.72 $0.29 $8.96 $6.86 $6.67 $5.64 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

SM Energy Co trades at about 5.7× earnings — near its 10-year norm (10-year range 3.5×–113.1×, median 5.7×).

3.5× 113.1×

Shaded band = 10-year range (3.5×–113.1×); dot = today's 5.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin31.7%40.0%41.6%47.0%8.0%-94.9%-4.4%40.5%-13.1%-86.8%
Net margin20.5%28.6%34.5%33.1%1.4%-67.9%-11.8%24.6%-12.8%-62.2%
Return on assets7.0%9.0%12.8%19.5%0.7%-15.4%-3.0%8.0%-2.6%-11.9%
Return on equity13.5%18.2%22.6%36.0%1.8%-37.9%-6.8%17.4%-6.7%-30.3%
Debt / equity1.01×1.10×0.95×
Current ratio0.690.551.451.230.690.350.540.920.980.54

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.