# SM Energy Company (SM) — Stock CV

SM Energy Company is a $8.78B energy company. Revenue grew 75.4% over the last year, it keeps 18¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 8.8× earnings — around the middle of its own history.

> SM Energy Co is an independent energy company engaged in the acquisition, exploration, development, and production of oil, gas, and NGLs in Texas and Utah. The Company operates in the oil and gas extraction industry, focused on exploration and production activities, onshore in the United States.

## Identity

- **Ticker**: SM
- **Sector**: Energy
- **Industry**: Crude Petroleum & Natural Gas
- **Headquarters**: DENVER, CO
- **Employees**: 1 241
- **Website**: https://sm-energy.com
- **Market cap**: $8.78B
- **Last price**: $36.90
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $5.50B
- **Net income**: $1.00B
- **Free cash flow**: $2.70B
- **Net cash**: $368M
- **P/E**: 8.8
- **Revenue growth (YoY)**: 75.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 87 |
| Growth | 56 |
| Profitability | 85 |
| Health | 50 |
| Quality | 34 |
| Moat | 44 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +75.4% YoY
- [x] Profitable — $1.00B TTM
- [ ] Profit growing — -14.3% YoY
- [x] Generates cash — $2.70B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $8.78B market cap
- [x] Not printing shares — +1.1% shares over ~5y
- [x] Proven track record — 6/10 profitable years
- [ ] Financially stable — health score 18/100
- [x] Pays a dividend — yield 2.06%
- [x] Valuation not extreme — P/E 8.8

## Experience (career milestones)

- **FY2022** — Best year on record: $1.11B net income
- **FY2021** — Became debt-free: cash now exceeds total debt
- **FY2018** — Turned profitable: $508M net income after a loss year
- **FY2016** — Revenue already above $1B: $1.22B in first reported year
- **2010** — The company changed its name from St
- **1992** — The company went public via an initial public offering
- **1908** — The company was founded in 1908 as the St

## Strengths

- High gross margin (72.9%)
- Revenue growing 75.4% year over year
- Strong cash conversion — FCF is 49.1% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 17.4× by operating earnings

## Watch-outs

- Loss-making in 4 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $2.62B | $36.2M | $482M |
| FY2022 | $3.36B | $1.11B | $806M |
| FY2023 | $2.37B | $818M | $475M |
| FY2024 | $2.69B | $770M | -$1.63B |
| FY2025 | $3.15B | $648M | $539M |

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Source: https://stockcv.com/SM — derived from company filings; may be delayed or incomplete. Information, not investment advice.