SM Energy Co Capital Reinvestment Ratio
SM Energy Co capital reinvestment ratio. SM Energy Co (SM) has a Capital Reinvestment Ratio of 0.87x as of March 2026, meaning it reinvests 1% of its operating cash flow ($640.00 Million) in capital expenditures ($555.00 Million). See SM free cash flow to operating cash ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of SM Energy Co (1990–2025)
Capital reinvestment ratio of SM Energy Co from 1990 to 2025. This chart tracks SM Energy Co's Capital Reinvestment Ratio across 36 annual periods. See SM free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
SM Energy Co Capital Reinvestment Ratio by Year (1990–2025)
SM Energy Co capital reinvestment ratio by year from 1990 to 2025. For the full cash flow conversion analysis, see SM Energy Co cash flow conversion.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.72x | $2.01 Billion | $1.44 Billion | ▼ -62.7% |
| 2024 | 1.92x | $1.78 Billion | $3.41 Billion | ▲ +174.3% |
| 2023 | 0.70x | $1.57 Billion | $1.10 Billion | ▲ +33.8% |
| 2022 | 0.52x | $1.69 Billion | $879.93 Million | ▼ -10.8% |
| 2021 | 0.58x | $1.16 Billion | $678.16 Million | ▼ -16.8% |
| 2020 | 0.70x | $790.94 Million | $555.66 Million | ▼ -43.6% |
| 2019 | 1.25x | $823.57 Million | $1.03 Billion | ▼ -32.8% |
| 2018 | 1.85x | $720.63 Million | $1.34 Billion | ▼ -2.3% |
| 2017 | 1.90x | $515.39 Million | $978.25 Million | ▼ -62.7% |
| 2016 | 5.09x | $552.80 Million | $2.81 Billion | ▲ +231.6% |
| 2015 | 1.53x | $978.35 Million | $1.50 Billion | ▼ -11.3% |
| 2014 | 1.73x | $1.46 Billion | $2.52 Billion | ▲ +43.3% |
| 2013 | 1.21x | $1.34 Billion | $1.62 Billion | ▼ -26.5% |
| 2012 | 1.64x | $921.97 Million | $1.51 Billion | ▼ -23.5% |
| 2011 | 2.15x | $760.53 Million | $1.63 Billion | ▲ +59.6% |
| 2010 | 1.35x | $497.10 Million | $668.95 Million | ▲ +54.7% |
| 2009 | 0.87x | $436.11 Million | $379.33 Million | ▼ -28.7% |
| 2008 | 1.22x | $678.22 Million | $827.44 Million | ▼ -6.2% |
| 2007 | 1.30x | $630.79 Million | $820.63 Million | ▼ -16.2% |
| 2006 | 1.55x | $467.70 Million | $725.70 Million | ▲ +134.5% |
| 2005 | 0.66x | $409.38 Million | $270.88 Million | ▼ -41.5% |
| 2004 | 1.13x | $237.16 Million | $268.19 Million | ▲ +15.4% |
| 2003 | 0.98x | $204.32 Million | $200.24 Million | ▼ -24.8% |
| 2002 | 1.30x | $141.71 Million | $184.72 Million | ▼ -2.7% |
| 2001 | 1.34x | $127.49 Million | $170.80 Million | ▲ +89.5% |
| 2000 | 0.71x | $92.27 Million | $65.24 Million | ▼ -28.4% |
| 1999 | 0.99x | $40.80 Million | $40.30 Million | ▼ -23.5% |
| 1998 | 1.29x | $45.40 Million | $58.60 Million | ▼ -31.7% |
| 1997 | 1.89x | $43.10 Million | $81.50 Million | ▲ +66.4% |
| 1996 | 1.14x | $24.20 Million | $27.50 Million | ▼ -11.4% |
| 1995 | 1.28x | $17.70 Million | $22.70 Million | ▲ +53.1% |
| 1994 | 0.84x | $20.30 Million | $17.00 Million | ▲ +22.2% |
| 1993 | 0.69x | $19.70 Million | $13.50 Million | ▲ +7.0% |
| 1992 | 0.64x | $27.00 Million | $17.30 Million | ▼ -51.0% |
| 1991 | 1.31x | $11.70 Million | $15.30 Million | ▲ +150.0% |
| 1990 | 0.52x | $15.10 Million | $7.90 Million | — |