# SM ENERGY CO (SM) · Edgar & Edgarette company card

> Sm Energy (SM) grew revenue 17.2% in FY2025 to $3.2 billion, operating margin 31.7% against a 16.8% median for crude petroleum & natural gas, equity 52.0% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 893538 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/SM) · [JSON](https://www.pops4.com/boards/company/SM.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $3.2B |
| Revenue growth, 1 year | 17.2% |
| Revenue growth per year | 4.7% |
| Operating margin | 31.7% (prior year 40.0%) |
| Net margin | 20.5% |
| Operating cash flow | $2.0B |
| Capital spending | — |
| Free cash flow | — |
| Cash | $368M |
| Long-term debt | — |
| Total assets | $9.3B |
| Total equity | $4.8B |
| Equity ÷ assets | 52.0% |
| Return on equity | 13.5% |
| Dividend per share | $0.8 |
| Dividend years rising | 4 |

## Readings, computed from those figures

- Altman Z: 2.77 (safe zone)
- Piotroski F: 7 of 9 (solid)
- Health Harbor boat: Old boat · three warning signs · filed auditor change in the last 12 months; slow and jumpy: growing slower than its size class, with revenue that swings more; revenue is hard to predict: its 80% range is ±29%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $3.2B (FY2025). Experience: revenue up 17.2% on the year, up 4.7% a year over 4 years; operating margin 31.7%, down from 40.0%. Soundness: equity 52.0% of assets, return on equity 13.5%, payout 14.2% of profit, dividend per share up 4 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.5B and $4.5B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $2.0B to $5.6B. A statistical range, not company guidance. Against peers (45 filers, $50M+ revenue, crude petroleum & natural gas): operating margin 31.7% against a 16.8% median; growth 17.2% against 7.8%.

Range logged 2026-09-28, receipt f11b35ff53ebe068, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 4.01 Auditor change: 1, latest 2026-02-09 ([filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000023/0000893538-26-000023-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-05-22 ([filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000069/0000893538-26-000069-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000147/0000893538-26-000147-index.htm)
- 8-K · filed 2026-11-03 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000143/0000893538-26-000143-index.htm)
- 8-K · filed 2026-10-14 · 2.02 Results of Operations and Financial Condition · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000137/0000893538-26-000137-index.htm)
- 8-K · filed 2026-09-04 · 1.02 Termination of a Material Definitive Agreement · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000128/0000893538-26-000128-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000121/0000893538-26-000121-index.htm)
- 8-K · filed 2026-08-05 · 2.02 Results of Operations and Financial Condition; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/893538/000089353826000119/0000893538-26-000119-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000893538.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=893538

## Cite

POPS4, Edgar & Edgarette: SM ENERGY CO (SM) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/SM. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.