SM Energy Co (SM) — 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). Check SM goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
SM Energy Co Capital Reinvestment Ratio (1990–2025)
This chart tracks SM Energy Co's Capital Reinvestment Ratio across 36 annual periods. For the full cash flow conversion analysis, see SM Energy Co cash flow conversion.
Annual Capital Reinvestment Ratio for SM Energy Co (1990–2025)
Year-by-year Capital Reinvestment Ratio for SM Energy Co from 1990 to 2025. See free cash flow generation of SM Energy Co to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |