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.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 6.25 | 1.46 | — | 4.92 | 4.62 | 3.51 | 4.71 | 5.94 | 4.78 | 5.94 | 11.03 | 4.57 | 5.27 | 6.33 | 4.35 | 4.17 | 2.43 | 3.29 | 24.97 | 2.15 | 9.56 |
| — | -58.3% | — | -17.2% | -3.3% | -40.9% | -57.3% | +30.2% | -9.3% | -6.1% | +153.8% | +9.6% | +117.0% | +92.4% | -82.6% | +93.9% | -74.6% | — | — | — | — | |
| P/S Ratio | 2.68 | 0.63 | 0.61 | 0.75 | 0.89 | 0.90 | 1.03 | 1.33 | 1.79 | 1.97 | 2.59 | 1.86 | 1.83 | 1.74 | 1.51 | 1.61 | 1.41 | 1.07 | 1.41 | 1.07 | 1.07 |
| — | -30.7% | -40.9% | -43.9% | -50.4% | -54.2% | -60.5% | -28.3% | -2.4% | +13.6% | +71.9% | +15.8% | +29.9% | +61.9% | +7.1% | +50.2% | +31.4% | -17.0% | +33.1% | +95.4% | +566.5% | |
| P/B Ratio | 0.84 | 0.80 | 0.52 | 0.45 | 0.61 | 0.62 | 0.78 | 1.05 | 1.13 | 1.30 | 1.57 | 1.25 | 1.38 | 1.15 | 1.07 | 1.39 | 1.63 | 1.74 | 2.29 | 1.77 | 2.00 |
| — | +29.6% | -33.2% | -57.5% | -46.1% | -52.4% | -50.2% | -15.7% | -17.9% | +13.0% | +47.2% | -10.4% | -15.4% | -33.8% | -53.4% | -21.4% | -18.3% | -7.4% | +115.4% | +409.7% | +2298.3% | |
| P/FCF | 14.74 | 3.61 | 10.55 | — | 7.14 | 4.41 | 12.47 | — | 7.70 | 8.14 | — | 4.46 | 8.04 | — | 9.47 | 3743.89 | 4.07 | 3.25 | 6.30 | 3.00 | 5.64 |
| — | -18.2% | -15.5% | — | -7.2% | -45.8% | — | — | -4.3% | — | — | -99.9% | +97.8% | — | +50.3% | +124852.3% | -27.9% | -67.1% | — | +119.0% | +954.4% | |
| EV / EBITDA | 5.39 | 1.52 | 20.73 | 3.16 | 2.37 | 2.32 | 2.83 | 3.33 | 2.61 | 3.32 | 4.99 | 2.74 | 3.81 | 3.40 | 2.66 | 2.85 | 2.27 | 1.79 | 2.35 | 2.05 | 2.43 |
| — | -34.5% | +631.8% | -5.3% | -9.0% | -30.1% | -43.2% | +21.6% | -31.5% | -2.4% | +87.4% | -3.7% | +67.4% | +90.0% | +13.3% | +39.3% | -6.4% | -43.5% | -29.7% | -95.3% | -69.9% | |
| EV / EBIT | 13.30 | 2.11 | — | 2.30 | 5.49 | 4.62 | 5.60 | 6.34 | 4.00 | 5.33 | 9.28 | 4.33 | 7.35 | 5.83 | 4.10 | 4.09 | 2.96 | 2.25 | 3.07 | 2.99 | 3.96 |
| — | -54.2% | — | -63.8% | +37.4% | -13.4% | -39.7% | +46.4% | -45.6% | -8.6% | +126.2% | +5.9% | +147.9% | +159.1% | +33.5% | +36.8% | -25.2% | -66.6% | -60.3% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.9% | 77.8% | 71.1% | 18.9% | 31.6% | 34.1% | 41.0% | 43.2% | 45.3% | 50.1% | 45.8% | 46.2% | 48.8% | 44.5% | 48.0% | 56.0% | 63.0% | 67.6% | 64.6% | 57.4% | 53.2% |
| — | +127.7% | +73.1% | -56.2% | -30.2% | -31.8% | -10.3% | -6.6% | -7.1% | +12.6% | -4.8% | -17.5% | -22.6% | -34.2% | -25.6% | -2.3% | +18.5% | +76.4% | +81.6% | +419.0% | +2871.9% | |
| Operating Margin | 26.1% | 59.8% | -20.1% | 0.6% | 30.4% | 37.6% | 32.9% | 34.3% | 51.5% | 44.1% | 31.9% | 51.1% | 30.6% | 38.3% | 47.7% | 49.5% | 58.6% | 62.3% | 60.6% | 52.9% | 44.1% |
| — | +59.3% | -161.2% | -98.2% | -41.0% | -14.8% | +3.2% | -32.8% | +68.5% | +15.1% | -33.1% | +3.1% | -47.8% | -38.5% | -21.3% | -6.3% | +32.8% | +85.2% | +101.1% | +198.4% | +220.6% | |
| Net Margin | 20.5% | 42.8% | -22.7% | 15.2% | 19.1% | 25.7% | 21.7% | 22.5% | 37.4% | 33.2% | 23.4% | 40.7% | 34.8% | 27.4% | 34.8% | 38.6% | 58.2% | 32.7% | 5.7% | 49.7% | 11.3% |
| — | +66.8% | -204.3% | -32.6% | -48.9% | -22.6% | -7.4% | -44.7% | +7.7% | +21.1% | -32.6% | +5.4% | -40.2% | -16.0% | +512.6% | -22.3% | +416.5% | +182.6% | +110.0% | +196.4% | +132.3% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.3% | 14.6% | -5.7% | 2.3% | 3.3% | 4.5% | 4.2% | 4.5% | 6.1% | 5.6% | 3.6% | 7.0% | 6.6% | 4.6% | 6.3% | 8.7% | 18.1% | 14.2% | 2.3% | 23.0% | 5.4% |
| — | +225.3% | -236.0% | -49.6% | -45.2% | -19.6% | +17.6% | -35.5% | -8.3% | +21.5% | -42.9% | -18.9% | -63.4% | -67.6% | +169.4% | -62.2% | +237.5% | +205.7% | +117.6% | +392.1% | +221.9% | |
| ROA | 7.3% | 5.6% | -2.4% | 1.2% | 1.7% | 2.3% | 2.1% | 2.3% | 3.3% | 3.2% | 2.1% | 4.0% | 3.7% | 2.5% | 3.4% | 4.5% | 8.8% | 6.0% | 0.9% | 8.3% | 1.7% |
| — | +148.5% | -212.4% | -47.6% | -47.6% | -29.6% | +2.2% | -42.8% | -11.1% | +27.5% | -40.1% | -12.8% | -57.9% | -58.1% | +273.6% | -44.9% | +417.4% | +236.1% | +118.2% | +352.3% | +189.4% | |
| ROIC | 8.6% | 7.8% | -2.1% | 0.0% | 2.6% | 3.1% | 2.9% | 3.6% | 5.0% | 4.3% | 2.9% | 5.1% | 3.2% | 3.6% | 4.8% | 6.1% | 9.5% | 12.5% | 10.4% | 9.0% | 6.8% |
| — | +154.3% | -172.6% | -98.7% | -48.7% | -28.6% | +1.7% | -30.0% | +54.0% | +21.3% | -40.1% | -16.7% | -65.8% | -71.4% | -54.1% | -32.6% | +39.6% | +240.6% | +329.3% | +407.2% | +506.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.59 | 0.90 | 1.16 | 0.48 | 0.58 | 0.59 | 0.62 | 0.67 | 0.67 | 0.41 | 0.43 | 0.44 | 0.46 | 0.48 | 0.49 | 0.51 | 0.55 | 0.64 | 0.94 | 1.01 | 1.27 |
| — | +52.5% | +86.2% | -28.8% | -13.6% | +44.0% | +46.4% | +54.0% | +44.1% | -14.0% | -12.5% | -14.5% | -15.6% | -25.7% | -48.0% | -49.5% | -56.8% | -54.5% | -26.7% | -8.2% | +17.9% | |
| Debt / EBITDA | 1.41 | 3.37 | 59.52 | 7.11 | 4.74 | 4.61 | 5.03 | 5.19 | 5.07 | 3.44 | 4.57 | 3.16 | 4.09 | 4.29 | 3.69 | 3.30 | 2.49 | 2.02 | 2.91 | 3.15 | 3.80 |
| — | -26.9% | +1083.5% | +36.9% | -6.4% | +34.2% | +10.0% | +64.4% | +23.9% | -19.9% | +23.9% | -4.4% | +64.4% | +111.8% | +26.9% | +4.8% | -34.5% | -62.8% | -60.2% | -97.6% | -87.3% | |
| Current Ratio | 0.69 | 0.62 | 0.39 | 0.69 | 0.56 | 0.69 | 0.57 | 0.55 | 3.52 | 1.29 | 1.48 | 1.45 | 1.17 | 1.20 | 1.34 | 1.23 | 0.99 | 0.62 | 0.72 | 0.69 | 0.30 |
| — | -10.4% | -31.9% | +26.1% | -84.2% | -46.7% | -61.2% | -61.9% | +200.0% | +6.9% | +10.2% | +17.4% | +18.2% | +92.8% | +87.4% | +78.6% | +225.7% | +143.8% | +141.7% | +97.6% | -58.2% | |
| Quick Ratio | 0.69 | 0.62 | 0.39 | 0.69 | 0.56 | 0.69 | 0.57 | 0.55 | 3.52 | 1.29 | 1.48 | 1.45 | 1.17 | 1.20 | 1.34 | 1.23 | 0.99 | 0.62 | 0.71 | 0.69 | 0.30 |
| — | -10.4% | -31.9% | +26.1% | -84.2% | -46.7% | -61.2% | -61.9% | +200.0% | +6.9% | +10.2% | +17.4% | +18.2% | +92.8% | +89.8% | +78.6% | +225.7% | +143.8% | +138.6% | +133.4% | -58.2% | |
| Interest Coverage | 5.80 | 13.51 | -2.63 | 1.47 | 5.76 | 6.93 | 6.23 | 6.21 | 6.87 | 13.10 | 8.46 | 13.20 | 8.63 | 9.67 | 12.31 | 14.64 | 21.24 | 17.38 | 13.21 | 11.27 | 8.21 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying SM stock.
SM Energy Company's current P/E is 6.2x. The average P/E over the last 3 quarters is 3.7x. 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 expanding 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.