SM Energy Company (SM) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SM Revenue Growth
Revenue Breakdown (FY 2025)
SM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SM Revenue Analysis (2014–2025)
As of May 6, 2026, SM Energy Company (SM) generated trailing twelve-month (TTM) revenue of $3.15 billion, reflecting significant decline in growth of -14.1% year-over-year. The most recent quarter (Q4 2025) recorded $718.3 million in revenue, down 11.4% sequentially.
Looking at the longer-term picture, SM's 5-year compound annual growth rate (CAGR) stands at +22.9%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $3.35 billion in 2022.
Revenue diversification analysis shows SM's business is primarily driven by E&P Segment (100%). With over half of revenue concentrated in E&P Segment, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including CIVI (-6.6% YoY), MTDR (+6.2% YoY), and CRGY (+18.3% YoY), SM has underperformed the peer group in terms of revenue growth. Compare SM vs CIVI →
SM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SMCurrent | $3.2B | -14.1% | +22.9% | 0.5% | |
 CIVI | $5.2B | -6.6% | +75.4% | 29.0% | |
 MTDR | $3.7B | +6.2% | +34.0% | 33.2% | |
 CRGY | $3.6B | +18.3% | +36.5% | 13.2% | |
 CHRD | $4.9B | -1.0% | +35.1% | 4.1% | |
 MGY | $1.3B | -0.3% | +6.9% | 38.9% |
SM Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.15B | +18.1% | $0 | - | $16.0M | 0.5% |
| 2024 | $2.67B | +13.0% | $1.23B | 45.9% | $1.08B | 40.3% |
| 2023 | $2.36B | -29.3% | $1.11B | 47.0% | $986.9M | 41.7% |
| 2022 | $3.35B | +28.8% | $2.12B | 63.4% | $1.58B | 47.2% |
| 2021 | $2.60B | +130.7% | $1.32B | 50.7% | $209.1M | 8.0% |
| 2020 | $1.13B | -29.0% | $-50,016,000 | -4.4% | $-1,068,950,000 | -94.9% |
| 2019 | $1.59B | -3.3% | $261.2M | 16.5% | $-69,968,000 | -4.4% |
| 2018 | $1.64B | +30.1% | $487.5M | 29.7% | $836.3M | 51.0% |
| 2017 | $1.26B | +6.8% | $195.5M | 15.5% | $-163,721,000 | -13.0% |
| 2016 | $1.18B | -22.0% | $-207,934,000 | -17.6% | $-1,057,044,000 | -89.6% |
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Start ComparisonSM — Frequently Asked Questions
Quick answers to the most common questions about buying SM stock.
Is SM's revenue growth accelerating or slowing?
SM revenue declined -14.1% year-over-year, contrasting with the 5-year CAGR of +22.9%. TTM revenue fell to $3.2B. This reverses the prior growth trend.
What is SM's long-term revenue growth rate?
SM Energy Company's 5-year revenue CAGR of +22.9% reflects the variable expansion pattern. Current YoY growth of -14.1% is below this long-term average.
How is SM's revenue distributed by segment?
SM reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.