Filing Flows › SM Energy (SM) › Operating margin
SM Energy (SM) operating margin by quarter
SM Energy's operating margin was 10.9% in Q3 2026 (third quarter 2026), -49.0 pts from Q2 2026. Over the last 6 quarters it ranged from 10.9% (Q3 2026) to 59.8% (Q2 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 10.9% | -49.0 pts | -19.4 pts |
| Q2 2026 | 59.8% | +34.0 pts | +22.6 pts |
| Q4 2025 | 25.8% | -4.5 pts | — |
| Q3 2025 | 30.3% | -6.9 pts | — |
| Q2 2025 | 37.2% | +4.5 pts | — |
| Q1 2025 | 32.7% | — | — |
Q3 2026 at a glance
SM Energy, Q3 2026: revenue $2.2B (+167% year over year), operating margin 10.9%, net earnings $93.0M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Questions
What is SM Energy's operating margin?
SM Energy's operating margin was 10.9% in Q3 2026 (third quarter 2026), -49.0 pts from Q2 2026.
How has SM Energy's operating margin changed?
Over the last 6 quarters it ranged from 10.9% (Q3 2026) to 59.8% (Q2 2026).