Last 47 quarters of trend data · Energy · Oil & Gas Exploration & Production
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
SM Energy Company's quarterly P/E stands at 4.9x, down 17.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 5.3% YoY to 3.2x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 5.06 | 4.92 | 4.62 | 3.51 | 4.71 | 5.94 | 4.78 | 5.94 | 11.03 | 4.57 | 5.27 | 6.33 | 4.35 |
| — | -17.2% | -3.3% | -40.9% | -57.3% | +30.2% | -9.3% | -6.1% | +153.8% | +9.6% | +117.0% | +92.4% | -82.6% | |
| P/S Ratio | 1.04 | 0.75 | 0.89 | 0.90 | 1.03 | 1.33 | 1.79 | 1.97 | 2.59 | 1.86 | 1.83 | 1.74 | 1.51 |
| — | -43.9% | -50.4% | -54.2% | -60.5% | -28.3% | -2.4% | +13.6% | +71.9% | +15.8% | +29.9% | +61.9% | +7.1% | |
| P/B Ratio | 0.68 | 0.45 | 0.61 | 0.62 | 0.78 | 1.05 | 1.13 | 1.30 | 1.57 | 1.25 | 1.38 | 1.15 | 1.07 |
| — | -57.5% | -46.1% | -52.4% | -50.2% | -15.7% | -17.9% | +13.0% | +47.2% | -10.4% | -15.4% | -33.8% | -53.4% | |
| P/FCF | 5.73 | — | 7.14 | 4.41 | 12.45 | — | 7.70 | 8.14 | — | 4.46 | 8.04 | — | 9.47 |
| — | — | -7.2% | -45.8% | — | — | -4.3% | — | — | -99.9% | +97.8% | — | +50.3% | |
| EV / EBITDA | 2.57 | 3.16 | 2.19 | 2.32 | 2.82 | 3.33 | 2.61 | 3.32 | 4.99 | 2.74 | 3.81 | 3.40 | 2.66 |
| — | -5.3% | -16.0% | -30.1% | -43.5% | +21.6% | -31.5% | -2.4% | +87.4% | -3.7% | +67.4% | +90.0% | +13.3% | |
| EV / EBIT | 6.34 | 2.30 | 5.07 | 4.62 | 5.57 | 6.34 | 4.00 | 5.33 | 9.28 | 4.33 | 7.35 | 5.83 | 4.10 |
| — | -63.8% | +26.8% | -13.4% | -40.1% | +46.4% | -45.6% | -8.6% | +126.2% | +5.9% | +147.9% | +159.1% | +33.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
SM Energy Company's operating margin was 0.6% in Q4 2025, down 29.8 pp QoQ and down 33.7 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 25.4% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 56.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.9% | 18.9% | 31.6% | 34.1% | 41.0% | 43.2% | 45.3% | 50.1% | 45.8% | 46.2% | 48.8% | 44.5% | 48.0% |
| — | -56.2% | -30.2% | -31.8% | -10.3% | -6.6% | -7.1% | +12.6% | -4.8% | -17.5% | -22.6% | -34.2% | -25.6% | |
| Operating Margin | 26.1% | 0.6% | 30.4% | 37.6% | 32.9% | 34.3% | 51.5% | 44.1% | 31.9% | 51.1% | 30.6% | 38.3% | 47.7% |
| — | -98.2% | -41.0% | -14.8% | +3.2% | -32.8% | +68.5% | +15.1% | -33.1% | +3.1% | -47.8% | -38.5% | -21.3% | |
| Net Margin | 20.5% | 15.2% | 19.1% | 25.7% | 21.7% | 22.5% | 37.4% | 33.2% | 23.4% | 40.7% | 34.8% | 27.4% | 34.8% |
| — | -32.6% | -48.9% | -22.6% | -7.4% | -44.7% | +7.7% | +21.1% | -32.6% | +5.4% | -40.2% | -16.0% | +512.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 2.3% | 3.3% | 4.5% | 4.2% | 4.5% | 6.1% | 5.6% | 3.6% | 7.0% | 6.6% | 4.6% | 6.3% |
| — | -49.6% | -45.2% | -19.6% | +17.6% | -35.5% | -8.3% | +21.5% | -42.9% | -18.9% | -63.4% | -67.6% | +169.4% | |
| ROA | 7.3% | 1.2% | 1.7% | 2.3% | 2.1% | 2.3% | 3.3% | 3.2% | 2.1% | 4.0% | 3.7% | 2.5% | 3.4% |
| — | -47.6% | -47.6% | -29.6% | +2.2% | -42.8% | -11.1% | +27.5% | -40.1% | -12.8% | -57.9% | -58.1% | +273.6% | |
| ROIC | 8.9% | 0.0% | 2.6% | 3.1% | 2.9% | 3.6% | 5.0% | 4.3% | 2.9% | 5.1% | 3.2% | 3.6% | 4.8% |
| — | -98.7% | -47.2% | -28.5% | +2.0% | -30.0% | +54.0% | +21.3% | -40.1% | -16.7% | -65.8% | -71.4% | -54.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
SM Energy Company's Debt/EBITDA ratio is 7.1x, up from 4.0x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 26.1% YoY to 0.69x, strengthening the short-term liquidity position. Debt/Equity has declined for 5 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.48 | 0.48 | 0.49 | 0.59 | 0.62 | 0.67 | 0.67 | 0.41 | 0.43 | 0.44 | 0.46 | 0.48 | 0.49 |
| — | -28.8% | -27.0% | +44.0% | +44.4% | +54.0% | +44.1% | -14.0% | -12.5% | -14.5% | -15.6% | -25.7% | -48.0% | |
| Debt / EBITDA | 1.13 | 7.11 | 4.01 | 4.61 | 4.96 | 5.19 | 5.07 | 3.44 | 4.57 | 3.16 | 4.09 | 4.29 | 3.69 |
| — | +36.9% | -20.9% | +34.2% | +8.5% | +64.4% | +23.9% | -19.9% | +23.9% | -4.4% | +64.4% | +111.8% | +26.9% | |
| Current Ratio | 0.69 | 0.69 | 0.56 | 0.69 | 0.57 | 0.55 | 3.52 | 1.29 | 1.48 | 1.45 | 1.17 | 1.20 | 1.34 |
| — | +26.1% | -84.2% | -46.7% | -61.2% | -61.9% | +200.0% | +6.9% | +10.2% | +17.4% | +18.2% | +92.8% | +87.4% | |
| Quick Ratio | 0.69 | 0.69 | 0.56 | 0.69 | 0.57 | 0.55 | 3.52 | 1.29 | 1.48 | 1.45 | 1.17 | 1.20 | 1.34 |
| — | +26.1% | -84.2% | -46.7% | -61.2% | -61.9% | +200.0% | +6.9% | +10.2% | +17.4% | +18.2% | +92.8% | +89.8% | |
| Interest Coverage | 5.80 | 1.47 | 5.76 | 6.93 | 6.23 | 6.21 | 6.87 | 13.10 | 8.46 | 13.20 | 8.63 | 9.67 | 12.31 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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SM Energy Company's current P/E is 5.1x. The average P/E over the last 4 quarters is 4.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
SM Energy Company's current operating margin is 26.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking SM Energy Company's business trajectory between earnings reports.