SM Energy Company
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.07B | $-335.0M | $108.9M | $155.1M | $202.0M | $182.0M | $188.0M | $240.5M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $11.0M | $25.0M | $8.0M | $8.0M | $6.0M | $7.0M | $7.6M | $6.6M |
| Net Cash from Operating Activities | $1.10B | $640.0M | $451.9M | $505.1M | $571.0M | $483.0M | $578.4M | $452.3M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | $0 | $49.0M | — | — | $0 | $0 | — | — |
| Net Cash from Investing Activities | $143.0M | $-628.0M | $-224.2M | $-404.8M | $-410.0M | $-429.0M | $-2.45B | $-302.9M |
| Financing Activities | ||||||||
| Dividends Paid | $53.0M | $82.0M | $23.2M | $22.8M | $23.0M | $23.0M | $22.9M | $20.6M |
| Stock Repurchases | — | — | $224.0K | $11.8M | $1.0M | $0 | $2.0M | $0 |
| Net Cash from Financing Activities | $-1.08B | $69.0M | $-21.9M | $-40.1M | $-59.0M | $-54.0M | $33.6M | $1.10B |
| Net Change in Cash | $171.0M | $81.0M | $205.7M | $60.3M | $102.0M | $0 | $-1.84B | $1.25B |
| Free Cash Flow | — | — | — | — | — | — | — | — |