SM Energy Company — Earnings Quality Grade F
SM · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
Insufficient data
Insufficient data
Revenue 17.5%, CFFO 12.8%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -56.9% vs revenue 17.5%. Normal
SG&A/Gross Profit = 15.4%, excellent (<30%)
Gross margin swung -12.5pp (45.9% → 33.3%)
Cash Flow Quality
CFFO/NI = 3.10. Profits backed by cash
FCF $0.5B, FCF/NI = 0.83
Accruals ratio = -14.7%. Low accruals
Cash $0.4B covers only 14% of debt $2.7B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 1.2x. Healthy
Other assets grew 61.4% vs revenue 17.5%
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25