What is the 13F Pro Quality Score for SM?

13F Pro ranks SM Energy Co (SM) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View SM's current score at https://13fpro.ai/company/SM (free sign-up required for the full ranking).

Where does 13F Pro source SM data?

All SM Energy Co fundamentals and ownership data come directly from SEC EDGAR. SM Energy Co files with the SEC under CIK 893538. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is SM in?

SM Energy Co (SM) is classified in the Energy sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/energy.

What drives SM's revenue?

Per SM Energy Co's latest 10-Q filed with the SEC on 2026-08-06, the biggest revenue drivers are: Oil production revenue ($2,026M, +61% sequentially); NGL production revenue ($115M, +26% sequentially); Gas production revenue ($15M, -88% sequentially). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/SM.

How often is SM research updated on 13F Pro?

SM's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

SM Energy Co(SM)Stock Analysis

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Energy →NYSEmid

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SEC EDGAR: CIK 893538 SM stock profile & AI dashboard →

13F Pro Quality Score

79.0/100

Rank #49 of 2,961 stocksTOP 5%

View Energy peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

94.1/100

Profitability

70.1/100

Balance Sheet

77.9/100

Earnings Quality

62.3/100

Free Cash Flow

94.7/100

Institutional Flow

61.9/100

Revenue Scale

79.2/100

Dilution Risk

59.3/100

Email me the moment this company reports earnings

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Two-page plain-English analysis: business, thesis, and three scenarios for the next two years. Refreshed every quarter.

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Why SM Scores 79/100

exact factor attribution · 2026-09-11

SM's composite is driven by revenue growth and free cash flow. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+8.8 pts

94th pct

Free cash flow

+6.7 pts

95th pct

Scale

+4.4 pts

79th pct

Profitability

+3.0 pts

70th pct

Capital efficiency

+2.8 pts

78th pct

Earnings quality

+1.2 pts

62th pct

Earnings growth

+1.1 pts

71th pct

Institutional flow

+0.6 pts

62th pct

Shareholder dilution

+0.5 pts

59th pct

Latest change (2026-08-06): 67 → 63 · ↓ Capital efficiency 53→41

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

SM Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for SM Energy Co (SM), a Energy sector company. 13F Pro's AI-powered ranking engine scores SM at 79.0/100 on a 32-signal composite quality model, placing it at rank #49 of 2,961 stocks — the top 5% of the AI-ranked universe. SM scores in the top quartile across free cash flow (94.7), revenue growth (94.1), revenue scale (79.2). Based on the latest XBRL financial filings (Q2 2026), SM Energy Co reports quarterly revenue of $2.5B, net income of $1.1B. Top institutional holders of SM by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, CANADA PENSION PLAN INVESTMENT BOARD, based on the most recent SEC filings. SM trades on the NYSE exchange and files with the SEC under CIK 893538. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SM daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SM Energy Co directly from SEC EDGAR. SM Energy Co's 13F Pro composite quality score has ranged between 34 and 84 since 2021, currently 79.0 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

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Fun facts about SM Energy Co

Quirks, history, and lore behind SM — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. oil and natural gas company · independent E&P (exploration and production) · listed on the NYSE · headquartered in Texas.
2
The Numbers
A mid-cap producer with annual revenue in the low billions, it runs a lean operation focused on capital discipline and free cash flow rather than growth-at-any-cost.
3
The History
Founded in the early 1990s, it has spent decades sharpening its focus on a handful of U.S. onshore basins, shedding assets that don't fit and doubling down on the ones that do.
4
The Secret
Its core acreage sits in the Permian Basin and the Eagle Ford Shale of Texas — two of the most prolific oil patches in North America.
5
The Lore
The company's two-letter ticker doubles as a state abbreviation — fitting, since practically everything it drills is in that very same state.
6
The Giveaway
Its ticker is literally the postal code for San Marino — but this driller is all-American, named after its original founding initials and built on Texas crude.

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What's Driving SM's Business? Latest 10-Q Breakdown

AI-extracted from SM Energy Co's 10-Q filed 2026-08-06 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

SM Energy reported Q2 net income of $1.1B ($4.46/diluted share) on $2.2B oil/gas/NGL revenue, with Civitas Merger integration advancing and South Texas asset sale completed for $896M in proceeds.

Biggest Revenue Drivers

Oil production revenue$2,026M+61% sequentially

Higher realized oil prices and full-quarter contribution from Civitas Merger assets, partially offset by South Texas Divestiture

NGL production revenue$115M+26% sequentially

Inclusion of full quarter production from Civitas assets acquired in Merger

Biggest Revenue Drivers

Total revenue: $2.2B+46% sequentially

Oil production revenue$2,026M+61% sequentially

Higher realized oil prices and full-quarter contribution from Civitas Merger assets, partially offset by South Texas Divestiture

NGL production revenue$115M+26% sequentially

Inclusion of full quarter production from Civitas assets acquired in Merger

Gas production revenue$15M-88% sequentially

Decline in realized gas prices driven by benchmark weakness and widening Waha differentials

Largest Expense Items

Depletion, depreciation, and amortization$592M+37% sequentially

Higher production volumes and impact of Merger on DD&A rates

Oil, gas, and NGL production expense$556M+30% sequentially

Full quarter of Civitas asset operations and higher LOE profile of acquired assets

General and administrative$79M-55% sequentially

Decline from prior quarter's substantial one-time Merger integration costs

Interest expense$111Mflat sequentially

Decreases from redeemed Senior Notes offset by interest on issued 2034 Senior Notes and Civitas notes

Watch Items from the Filing

Material drilling commitment obligations: up to $80M in liquidated damages exposure if 106 qualifying wells not completed by December 31, 2026 under assumed Civitas gathering agreements; company expects nonperformance to be excused.
Permian Basin represents 51% of Q2 revenue; DJ Basin 27%; significant geographic concentration in two basins post-Merger with DJ Basin having higher production tax rates (7.4% vs Permian 6.1%).
Delivery commitments require 61 MMBbl oil through 2030 and 49 Bcf gas through 2029; total undiscounted deficiency payments exposure of ~$214M if all minimums missed, though company expects to meet obligations.
IRC Section 382 ownership change occurred post-Merger, limiting timing of tax attribute utilization; company monitoring realizability of deferred tax assets with no valuation allowance currently recorded.
Gas basis differentials at Waha (Permian) and CIG Rockies (DJ Basin) significantly impacting realized prices; Waha differentials expected to improve with new pipeline capacity entering service in H2 2026.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$2.5B

Net Income

Q2 2026

$1.1B

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+17.2% YoY

$3.15BFY 2025

FY22 $3.36BFY23 $2.37BFY24 $2.69BFY25 $3.15B

Net Income

-15.8% YoY

$648.0MFY 2025

FY22 $1.11BFY23 $818.0MFY24 $770.0MFY25 $648.0M

Operating Income

-7.1% YoY

$1.00BFY 2025

FY22 $1.58BFY23 $987.0MFY24 $1.08BFY25 $1.00B

EPS (Diluted)

-15.4% YoY

$2.82FY 2025

FY22 $4.48FY23 $3.43FY24 $3.33FY25 $2.82

Total Assets

+7.9% YoY

$9.25BFY 2025

FY22 $5.72BFY23 $6.38BFY24 $8.58BFY25 $9.25B

Total Debt

—FY 2025

FY22 —FY23 —FY24 —FY25 —

Op. Cash Flow

+12.8% YoY

$2.01BFY 2025

FY22 $1.69BFY23 $1.57BFY24 $1.78BFY25 $2.01B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$3.15B +17.2%	$2.69B +13.3%	$2.37B -29.3%	$3.36B +28.1%	$2.62B +132.8%	$1.13B
Net Income	$648.0M -15.8%	$770.0M -5.9%	$818.0M -26.4%	$1.11B +2969.2%	$36.2M +104.7%	$-764.6M
Operating Income	$1.00B -7.1%	$1.08B +9.0%	$987.0M -37.5%	$1.58B +655.3%	$209.1M +119.6%	$-1.07B
EPS (Diluted)	$2.82 -15.4%	$3.33 -2.8%	$3.43 -23.4%	$4.48 +2989.7%	$0.14 +104.3%	$-3.36
Total Assets	$9.25B +7.9%	$8.58B +34.4%	$6.38B +11.6%	$5.72B +9.2%	$5.23B +5.2%	$4.98B
Total Debt	—	—	—	—	$2.08B -6.0%	$2.21B
Operating Cash Flow	$2.01B +12.8%	$1.78B +13.3%	$1.57B -6.7%	$1.69B +45.4%	$1.16B +46.6%	$790.9M

AI Insight: SM Financial Trends

SM Energy swung from Q1 2026 loss to blockbuster Q2 2026 profitability, with revenue and operating income nearly tripling sequentially.

• Revenue surged to $2,500M in Q2 2026 from $1,479M in Q1 2026; operating income recovered to $1,496M from -$298M loss.

• Operating cash flow remained robust at $1,103M in Q2 2026, highest on record across all eight quarters shown.

• Net income swung to $1,071M profit in Q2 2026 after -$335M loss in Q1 2026, a $1,406M one-quarter reversal.

⚠ Equity jumped 71% from Q3 2025 ($4,713M) to Q2 2026 ($7,813M)—extent and nature of capital addition unclear without debt data.

⚠ Q1 2026 loss and negative operating income suggest one-time charge or impairment; sustainability of Q2 2026 margin spike uncertain.

AI Insight: SM Ratio Trends

Q2 2026 saw dramatic margin and return recovery—from Q1's loss-making quarter—but extreme volatility across 2025–26 signals underlying operational instability.

• Operating margin swung from -20.2% in Q1 2026 to +59.8% in Q2 2026; NPM recovered from -22.7% to +42.8%.

• ROIC rebounded sharply to 76.6% in Q2 2026 after dropping to -17.4% in Q1 2026—largest swing in the dataset.

• TTM operating margin stands at 29.6%, down 22pp from Q3 2024's 51.5%, reflecting year-over-year deterioration.

⚠ Q1 2026 loss-making quarter (OpMargin -20.2%, NPM -22.7%) preceded Q2 spike; cyclical or structural deterioration unclear.

⚠ Q4 2025 showed margin compression (OpMargin 25.9%, down from 30.4% in Q3 2025); persistent pressure into early 2026.

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Available Research

13F Pro tracks comprehensive data for SM Energy Co including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of SM

BlackRock, Inc.
$1.0B39,280,818 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$402.6M15,425,423 sh
CANADA PENSION PLAN INVESTMENT BOARD
$378.3M14,493,791 sh
ARISTEIA CAPITAL, L.L.C.
$339.3M13,000,649 sh
STATE STREET CORP
$305.5M11,705,860 sh
VANGUARD CAPITAL MANAGEMENT LLC
$278.2M10,657,355 sh
AMERICAN CENTURY COMPANIES INC
$233.2M8,935,683 sh
DIMENSIONAL FUND ADVISORS LP
$213.4M8,174,503 sh
DONALD SMITH & CO., INC.
$199.6M7,647,594 sh
GEODE CAPITAL MANAGEMENT, LLC
$163.7M6,269,841 sh

Fund	Value	Shares
BlackRock, Inc.	$1.0B	39,280,818
VANGUARD PORTFOLIO MANAGEMENT LLC	$402.6M	15,425,423
CANADA PENSION PLAN INVESTMENT BOARD	$378.3M	14,493,791
ARISTEIA CAPITAL, L.L.C.	$339.3M	13,000,649
STATE STREET CORP	$305.5M	11,705,860
VANGUARD CAPITAL MANAGEMENT LLC	$278.2M	10,657,355
AMERICAN CENTURY COMPANIES INC	$233.2M	8,935,683
DIMENSIONAL FUND ADVISORS LP	$213.4M	8,174,503
DONALD SMITH & CO., INC.	$199.6M	7,647,594
GEODE CAPITAL MANAGEMENT, LLC	$163.7M	6,269,841

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Is SM a good stock to buy?

13F Pro's AI-powered analysis of SM Energy Co (SM) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for SM are available on the SM stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. SM is classified as a mid company.

Which hedge funds own SM?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling SM. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of SM Energy Co's investment landscape.