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SM Energy Co cash flow statement

In fiscal 2025, SM Energy Co's operations generated $2.01bn of cash; it spent $34.0m on capital projects, leaving free cash flow of $1.98bn. It returned $92.0m in dividends and $13.0m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations4364977619221,3391,4579915535157218247911,1601,6861,5741,7832,0112,700
Stock-based pay192727303233272723242415191920252952
Capital spending01066254582,184903338301102,104340
Free cash flow4364967619161,277912983−1,6314256878217831,1561,6861,464−3211,9772,700
Free cash flow after stock pay4174707348861,245879955−1,6584036637977681,1381,6681,444−3461,9482,648
Dividends paid666777781111112220728592181
Share buybacks———————————00572288613—
Shares issued3676755938333133333—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from SM Energy Co's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to SM Energy Co.