Sm Energy Co's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Sm Energy Co (SM) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Sm Energy Co vs Its Competitors
- TTM: Trailing 12-month revenue of 5,496M vs 968,211M combined for tracked competitors (0.6% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+82.0% annualized vs trailing 12 months), vs accelerating (+24.3%) for its tracked peer group.
- Growth: Sm Energy Co generated 215.3% revenue growth year over year in Q2 2026, vs 41.7% for its tracked competitors combined.
- Profitability: Its 42.8% net margin compares with 17.7% for the peer group.
- Scale: Sm Energy Co ranks #25 of 134 companies by market capitalization in the Oil And Gas Production industry, holding 0.5% of industry market cap.
- Peer revenue share: Sm Energy Co accounted for 0.8% of combined revenue among its tracked peer group, up from 0.4% a year earlier.
- Peer differentiation: Revenue per employee of $4.43M compares with $5.45M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SM Sales vs. its Competitors, Q2 2026
Sm Energy Co reported revenue growth of 215.28 % year on year in Q2 2026, above its competitors' combined revenue growth of 41.70 %.
With a net margin of 42.84 %, Sm Energy Co achieved higher profitability than its competitors (17.66 %).
Sm Energy Co generated 0.82 % of the combined sales of its peer group, up from 0.37 % a year earlier.
Sm Energy Co vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Sm Energy Co and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Sm Energy Co | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Sm Energy Co's competitor groups requires a Commercial License.
For context: the Oil And Gas Production industry grew revenue 3.3% year over year, combined, vs 215.3% for Sm Energy Co. Sm Energy Co's share of combined industry revenue moved from 0.06% to 0.17%, a gain of 0.11 percentage points.
Sm Energy Co's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Sm Energy Co | Yes | Yes | Yes | No |
| Competitors combined (91) | ||||
| Similar-Size Competitors (9) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 25.00 % (2 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SM Stock Performance relative to its Competitors
SM Stock Performance relative to Similar-Size Competitors
SM Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Calumet Inc | 282.9% | Outperformed |
| 2 | Zion Oil and Gas Inc | 282.9% | Outperformed |
| 3 | Gran Tierra Energy Inc | 282.9% | Outperformed |
| 4 | Par Pacific Holdings Inc | 282.9% | Outperformed |
| 5 | Laredo Oil Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Sm Energy Co's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Sm Energy Co's Comment on Competition and Industry Peers
The oil and gas industry is intensely competitive, particularly with respect
to acquiring prospective oil and natural gas properties. We believe our acreage
positions provide a foundation for development activities that we expect to
fuel our future growth. Our competitive position also depends on our geological,
geophysical, and engineering expertise, as well as our financial resources.
We believe the location of our acreage; our exploration, drilling, operational,
and production expertise; available technologies; our financial resources and
expertise; and the experience and knowledge of our management and technical
teams enable us to compete in our core operating areas. However, we face intense
competition from a substantial number of major and independent oil and gas companies,
which in some cases have larger technical staffs and greater financial and operational
resources than we do. Many of these companies not only engage in the acquisition,
exploration, development, and production of oil and natural gas reserves, but
also have gathering, processing or refining operations, market refined products,
own drilling rigs or other equipment, or generate electricity.
We also compete with other oil and gas companies in securing drilling rigs and
other equipment and services necessary for the drilling, completion, and maintenance
of wells, as well as for the gathering, transporting, and processing of crude
oil, natural gas, and NGLs. Consequently, we may face shortages, delays, or
increased costs in securing these services from time to time. The oil and gas
industry also faces competition from alternative fuel sources, including other
fossil fuels such as coal and imported liquefied natural gas. Competitive conditions
may be affected by future energy, climate-related, financial, or other policies,
legislation, and regulations.
In addition, we compete for people, including experienced geologists, geophysicists,
engineers, and other professionals. Throughout the oil and gas industry, the
need to attract and retain talented people has grown at a time when the availability
of individuals with these skills is becoming more limited due to the evolving
demographics of our industry. We are not insulated from the competition for
quality people, and we must compete effectively in order to be successful.
Publicly Traded Peers of Sm Energy Co
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Sm Energy Co | 8,052.00 | 5,495.51 |
| Exxon Mobil Corporation | 678,400.22 | 368,757.00 |
| Chevron Corp | 407,361.69 | 215,261.00 |
| Shell Plc | 286,930.72 | 266,886.00 |
| Totalenergies Se | 199,342.93 | 162,863.00 |
| Conocophillips | 153,044.70 | 63,345.00 |
| SUBTOTAL | 2,608,605.52 | 1,827,017.53 |
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Sources: Sm Energy Co's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Sm Energy Co versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Sm Energy Co's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Sm Energy Co | E&P 100.00 % |
| Exxon Mobil Corporation | Corporate and Unallocated 0.20 % |
| Chevron Corp | Reportable Segment, Aggregation before Other Operating 99.73 % |
| Williams companies inc | Transmission And Gulf Of Mexico 44.10 % |
| Eog Resources Inc | United States of America 98.40 % |
| Imperial Oil Limited | Upstream 42.18 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Sm Energy Co's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Sm Energy Co | 8,052 | 4,428,294 | 805,855 |
| Exxon Mobil Corporation | 678,400 | 6,357,879 | 575,414 |
| Chevron Corp | 407,362 | 5,001,533 | 487,116 |
| Shell Plc | 286,931 | 3,139,835 | 213,165 |
| Totalenergies Se | 199,343 | 17,683,279 | 1,450,271 |
| Conocophillips | 153,045 | 6,398,485 | 936,263 |
| PEERS TOTAL | 2,600,554 | 5,451,276 | 461,208 |
Sm Energy Co's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Sm Energy Co | Permian Basin 49.29 % |
| Occidental Petroleum Corporation | Non-US 20.75 % |
| Sharkninja Inc | North America 64.87 % |
| Granite Ridge Resources Inc | Permian 67.87 % |
| Ageagle Aerial Systems Inc | EMEA 37.61 % |
| Us Energy Corp | Rockies 84.98 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Sm Energy Co's Position in Industry Market Structure
Market-capitalization share and concentration across all 113 companies in Sm Energy Co's industry classification, broader than the peer set above. Market cap in millions of $.Sm Energy Co ranks #25 of 113 companies by market capitalization in its industry, holding 0.54 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 787, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Shell Plc | 291,528 | 18.98 % |
| 2 | Totalenergies Se | 218,956 | 14.25 % |
| 3 | Canadian Natural Resources Limited | 105,431 | 6.86 % |
| 4 | Eni Spa | 96,790 | 6.30 % |
| 5 | Slb Limited | 1,234 | 5.2% |
| 6 | Eog Resources Inc | 1,234 | 5.2% |
| 7 | Occidental Petroleum Corporation | 1,234 | 5.2% |
| 8 | Cenovus Energy Inc | 1,234 | 5.2% |
| 9 | Diamondback Energy Inc | 1,234 | 5.2% |
| 10 | Devon Energy Corp | 1,234 | 5.2% |
| 25 | Sm Energy Co | 8,273 | 0.54 % |
Market cap and industry share for the rest of Sm Energy Co's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Sm Energy Co's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 20 | Ovintiv Inc | 17,106 | 42.07 % |
| 21 | Apa Corporation | 15,222 | 76.66 % |
| 22 | Antero Resources Corporation | 10,762 | 1.75 % |
| 23 | Range Resources Corporation | 9,092 | 3.14 % |
| 24 | Sasol Limited | 1,234 | 12.3% |
| 25 | Sm Energy Co | 8,273 | 26.22 % |
| 26 | Viper Energy Inc | 1,234 | 12.3% |
| 27 | Chord Energy Corporation | 1,234 | 12.3% |
| 28 | Matador Resources Company | 1,234 | 12.3% |
| 29 | Landbridge Company Llc | 1,234 | 12.3% |
| 30 | Murphy Oil Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Sm Energy Co's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Sm Energy Co's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil And Gas Production industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (165 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 74.16 % | 57.30 % (avg) | +16.9 pp |
| Operating Margin | 29.60 % | industry median | +18.5 pp |
| EBITDA Margin | 25.83 % | 11.81 % (avg) | +14.0 pp |
| Capital Intensity (Capex / Revenue) | 35.34 % | 24.95 % (avg) | +10.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Sm Energy Co's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (165 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 6.0x | 15.8x | -9.8x |
| EV / EBITDA | 7.3x | 8.9x | -1.6x |
| P/B | 1.2x | 1.8x | -0.6x |
| Return on Equity | 16.53 % | industry aggregate | 4.54 % |
| Return on Invested Capital | 9.50 % | 5.38 % (avg) | 4.12 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Sm Energy Co's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 83.03 % | -23.07 % | -29.14 % | 132.80 % | 28.05 % | -29.32 % | 13.33 % | 17.24 % |
| Operating Margin | 40.46 % | -4.40 % | -94.88 % | 7.97 % | 47.03 % | 41.57 % | 39.98 % | 31.71 % |
| Return on Invested Capital | 9.81 % | -0.81 % | -15.19 % | 3.55 % | 22.17 % | 11.66 % | 11.28 % | 8.89 % |
| P/E | 4.4x | - | - | - | 4.2x | 5.4x | 6.2x | 3.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Sm Energy Co's Strategic Group Map
Every company in Sm Energy Co's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Sm Energy Co is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Sm Energy Co's BCG Growth-Share Matrix
Relative market share (vs Sm Energy Co's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Sm Energy Co falls in the Dog quadrant: relative market share of 0.03x vs its largest competitor, in an industry growing revenue 0.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Sm Energy Co's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 787 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 35.34 % vs industry average 24.95 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Sm Energy Co's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Sm Energy Co's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Sm Energy Co's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Sm Energy Co falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Sm Energy Co's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 18.5 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+82.0% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.03x).
Opportunities
- Trades at a lower P/E than the industry average (6.0x vs 15.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
- A meaningful share of tracked competitors (33.30 %) show financial-distress signals, a possible opening to gain share.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Sm Energy Co's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Sm Energy Co | 0.17 | 0.59 | 0.57 |
| Exxon Mobil Corporation | 0.13 | 1.11 | 0.17 |
| Chevron Corp | 0.01 | 1.16 | 0.21 |
| Shell Plc | 0.37 | 1.30 | 0.05 |
| Totalenergies Se | 0.28 | 0.97 | 0.02 |
| Conocophillips | 0.49 | 1.36 | 0.45 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Sm Energy Co's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Sm Energy Co | Q2 2026 | +215.3 % | +431.1 % |
| Exxon Mobil Corporation | Q2 2026 | +42.3 % | +97.5 % |
| Chevron Corp | Q2 2026 | +56.3 % | +385.6 % |
| Shell Plc | Q4 2025 | -6.1 % | +9.7 % |
| Totalenergies Se | Q4 2025 | -7.1 % | -16.7 % |
| Conocophillips | Q2 2026 | +36.8 % | +98.8 % |
| PEERS TOTAL | +4.0 % | +48.5 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Sm Energy Co's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Sm Energy Co | Q2 2026 | +148.2 % | +83.9 % |
| Exxon Mobil Corporation | Q2 2026 | - | +3.9 % |
| Chevron Corp | Q2 2026 | +36.3 % | +22.3 % |
| Shell Plc | Q4 2025 | - | - |
| Totalenergies Se | Q4 2025 | - | - |
| Conocophillips | Q2 2026 | +32.0 % | - |
Sm Energy Co's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Sm Energy Co | 7.10% | 9.04% | 16.53% |
| Exxon Mobil Corporation | 7.29% | 7.92% | 12.57% |
| Chevron Corp | 6.40% | 6.49% | 10.85% |
| Shell Plc | 4.89% | 4.22% | 10.33% |
| Totalenergies Se | 4.59% | 11.37% | 11.37% |
| Conocophillips | 7.55% | 8.36% | 14.30% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Sm Energy Co's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Sm Energy Co | 6.60 | 1.47 |
| Exxon Mobil Corporation | 20.97 | 1.84 |
| Chevron Corp | 19.59 | 1.89 |
| Shell Plc | 16.09 | 1.08 |
| Totalenergies Se | 15.19 | 1.22 |
| Conocophillips | 16.72 | 2.42 |
| PEERS AVERAGE | 16.82 | 1.43 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.