SM Energy Company (SM) Financial Ratios
30 years of historical data (1996–2025) · Energy · Oil & Gas Exploration & Production
EV/EBITDA
↓
2.49
↓-28% vs avg
5yr avg: 3.45
30Y Low1.9·High9.7
P/FCF
↓
5.45
↓-17% vs avg
5yr avg: 6.60
30Y Low3.0·High124.1
P/B Ratio
↓
0.65
↓-45% vs avg
5yr avg: 1.19
30Y Low0.2·High2.2
ROE
↑
14.3%
↑-31% vs avg
5yr avg: 20.7%
30Y Low-35%·High43%
Debt/EBITDA
↓
1.13
↓-13% vs avg
5yr avg: 1.30
30Y Low0.2·High7.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
SM Energy Company trades at 4.8x earnings, 80% below its 5-year average of 24.1x, sitting at the 19th percentile of its historical range. Compared to the Energy sector median P/E of 15.4x, the stock trades at a discount of 69%. On a free-cash-flow basis, the stock trades at 5.4x P/FCF, 17% below the 5-year average of 6.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.1B | $2.2B | $4.5B | $4.6B | $4.3B | $3.6B | $696M | $632M | $879M | $1.2B | $1.3B |
| Enterprise Value | $5.0B | $4.1B | $7.3B | $5.6B | $5.5B | $5.4B | $2.9B | $3.4B | $3.4B | $3.8B | $4.2B |
| P/E Ratio → | 4.81 | 3.32 | 5.81 | 5.64 | 3.89 | 101.66 | — | — | 1.73 | — | — |
| P/S Ratio | 0.99 | 0.68 | 1.68 | 1.95 | 1.29 | 1.40 | 0.62 | 0.40 | 0.54 | 0.98 | 1.12 |
| P/B Ratio | 0.65 | 0.45 | 1.06 | 1.28 | 1.40 | 1.77 | 0.35 | 0.23 | 0.30 | 0.51 | 0.53 |
| P/FCF | 5.45 | 3.75 | — | 9.72 | 5.36 | 7.57 | 2.96 | — | — | — | — |
| P/OCF | 1.55 | 1.07 | 2.51 | 2.93 | 2.56 | 3.14 | 0.88 | 0.77 | 1.22 | 2.39 | 2.39 |
P/E links to full P/E history page with 30-year chart
SM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
SM Energy Company's enterprise value stands at 2.5x EBITDA, 28% below its 5-year average of 3.5x. The Energy sector median is 7.8x, placing the stock at a 68% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.29 | 2.74 | 2.38 | 1.64 | 2.09 | 2.58 | 2.12 | 2.07 | 3.03 | 3.57 |
| EV / EBITDA | 2.49 | 2.01 | 3.88 | 3.35 | 2.51 | 5.51 | — | 4.46 | 2.26 | 9.73 | — |
| EV / EBIT | 6.14 | 4.07 | 6.61 | 5.58 | 3.62 | 26.25 | — | — | 4.18 | — | — |
| EV / FCF | — | 7.12 | — | 11.82 | 6.80 | 11.26 | 12.37 | — | — | — | — |
SM Profitability
Margins and return-on-capital ratios measuring operating efficiency
SM Energy Company earns an operating margin of 26.1%, above the Energy sector average of 13.8%. Operating margins have compressed from 41.7% to 26.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 14.3% is modest. ROIC of 8.9% represents adequate returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.9% | 31.9% | 45.9% | 47.0% | 63.4% | 50.7% | -4.4% | 16.5% | 29.7% | 15.5% | -17.6% |
| Operating Margin | 26.1% | 26.1% | 40.3% | 41.7% | 47.2% | 8.0% | -94.9% | -4.4% | 51.0% | -13.0% | -89.6% |
| Net Profit Margin | 20.5% | 20.5% | 28.8% | 34.6% | 33.2% | 1.4% | -67.9% | -11.8% | 31.0% | -12.8% | -64.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.3% | 19.6% | 24.4% | 43.2% | 1.8% | -32.1% | -6.6% | 19.1% | -6.6% | -34.8% |
| ROA | 7.3% | 7.3% | 10.3% | 13.5% | 20.3% | 0.7% | -13.6% | -3.0% | 8.1% | -2.6% | -12.6% |
| ROIC | 8.9% | 8.9% | 13.8% | 16.7% | 29.3% | 3.9% | -16.5% | -1.0% | 12.0% | -2.4% | -16.3% |
| ROCE | 10.4% | 10.4% | 15.9% | 18.2% | 33.4% | 4.8% | -20.9% | -1.2% | 14.5% | -2.8% | -18.7% |
SM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
SM Energy Company carries a Debt/EBITDA ratio of 1.1x, which is manageable (57% below the sector average of 2.6x). Net debt stands at $1.9B ($2.3B total debt minus $368M cash). Interest coverage of 5.8x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.48 | 0.48 | 0.67 | 0.45 | 0.52 | 1.02 | 1.10 | 0.99 | 0.89 | 1.21 | 1.16 |
| Debt / EBITDA | 1.13 | 1.13 | 1.51 | 0.96 | 0.74 | 2.14 | — | 3.63 | 1.73 | 7.40 | — |
| Net Debt / Equity | — | 0.40 | 0.67 | 0.28 | 0.38 | 0.86 | 1.10 | 0.99 | 0.86 | 1.08 | 1.16 |
| Net Debt / EBITDA | 0.95 | 0.95 | 1.51 | 0.60 | 0.53 | 1.80 | — | 3.63 | 1.68 | 6.60 | — |
| Debt / FCF | — | 3.36 | — | 2.10 | 1.44 | 3.68 | 9.41 | — | — | — | — |
| Interest Coverage | 5.80 | 5.80 | 7.87 | 10.98 | 12.60 | 1.29 | -4.84 | -0.45 | 5.05 | -0.92 | -6.57 |
SM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.69x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.45x to 0.69x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.69 | 0.69 | 0.55 | 1.45 | 1.23 | 0.69 | 0.35 | 0.54 | 0.92 | 0.98 | 0.54 |
| Quick Ratio | 0.69 | 0.69 | 0.55 | 1.45 | 1.23 | 0.69 | 0.30 | 0.42 | 0.55 | 0.87 | 0.41 |
| Cash Ratio | 0.31 | 0.31 | — | 0.97 | 0.74 | 0.37 | 0.00 | 0.00 | 0.17 | 0.56 | 0.02 |
| Asset Turnover | — | 0.34 | 0.31 | 0.37 | 0.59 | 0.50 | 0.23 | 0.25 | 0.26 | 0.20 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | 37.70 | 24.00 | 6.58 | 16.57 | 25.46 |
| Days Sales Outstanding | — | 38.31 | 49.32 | 35.69 | 25.45 | 34.73 | 52.65 | 42.52 | 37.28 | 46.38 | 46.99 |
SM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
SM Energy Company returns 3.4% to shareholders annually — split between a 2.9% dividend yield and 0.4% buyback yield. The payout ratio of 14.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 20.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.9% | 4.3% | 1.9% | 1.6% | 0.5% | 0.1% | 0.3% | 1.8% | 1.3% | 0.9% | 0.6% |
| Payout Ratio | 14.2% | 14.2% | 11.0% | 8.8% | 1.8% | 6.6% | — | — | 2.2% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 20.8% | 30.2% | 17.2% | 17.7% | 25.7% | 1.0% | — | — | 57.9% | — | — |
| FCF Yield | 18.4% | 26.6% | — | 10.3% | 18.7% | 13.2% | 33.8% | — | — | — | — |
| Buyback Yield | 0.4% | 0.6% | 1.9% | 4.9% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.4% | 4.9% | 3.8% | 6.5% | 1.8% | 0.1% | 0.3% | 1.8% | 1.3% | 0.9% | 0.6% |
| Shares Outstanding | — | $115M | $116M | $119M | $124M | $124M | $114M | $113M | $114M | $111M | $77M |
Peer Comparison
Compare SM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SMYou | $3B | 4.8 | 2.5 | 5.4 | 31.9% | 26.1% | 14.3% | 8.9% | 1.1 |
 CIVI | $2B | 3.2 | 1.9 | 2.6 | 41.2% | 29.0% | 13.1% | 10.8% | 1.3 |
 MTDR | $6B | 8.1 | 4.0 | 25.5 | 43.7% | 32.5% | 13.3% | 10.5% | 1.5 |
 CRGY | $3B | 19.3 | 5.6 | 4.7 | 22.6% | 13.2% | 2.8% | 3.9% | 3.5 |
 CHRD | $7B | 166.4 | 5.0 | 10.1 | 6.5% | 4.1% | 0.5% | 1.6% | 0.9 |
 MGY | $5B | 15.1 | 5.7 | 12.0 | 46.7% | 33.5% | 16.4% | 15.4% | 0.5 |
 DVN | $26B | 10.0 | 4.5 | 8.4 | 24.7% | 22.0% | 17.5% | 12.3% | 1.2 |
 FANG | $52B | 32.0 | 6.6 | 9.9 | 35.2% | 32.7% | 4.0% | 6.7% | 1.5 |
 PR | $15B | 14.4 | 5.4 | 27.4 | 32.7% | 29.0% | 8.5% | 7.5% | 1.1 |
 REI | $239M | -6.7 | 3.8 | 4.5 | 60.7% | 24.2% | -4.1% | 4.5% | 2.5 |
 HAL | $29B | 23.3 | 10.3 | 17.4 | 15.7% | 10.2% | 12.2% | 10.2% | 2.4 |
| Energy Median | — | 15.4 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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SM — Frequently Asked Questions
Quick answers to the most common questions about buying SM stock.
What is SM Energy Company's P/E ratio?
SM Energy Company's current P/E ratio is 4.8x. The historical average is 11.9x. This places it at the 19th percentile of its historical range.
What is SM Energy Company's EV/EBITDA?
SM Energy Company's current EV/EBITDA is 2.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.4x.
What is SM Energy Company's ROE?
SM Energy Company's return on equity (ROE) is 14.3%. The historical average is 10.2%.
Is SM stock overvalued?
Based on historical data, SM Energy Company is trading at a P/E of 4.8x. This is at the 19th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is SM Energy Company's dividend yield?
SM Energy Company's current dividend yield is 2.95% with a payout ratio of 14.2%.
What are SM Energy Company's profit margins?
SM Energy Company has 31.9% gross margin and 26.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does SM Energy Company have?
SM Energy Company's Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.