SM Energy Co (SM) — Financial Flexibility Index
SM Energy Co (SM) has a Financial Flexibility Index of 0.10x as of March 2026. Free cash flow of $1.20 Billion (operating CF $640.00 Million minus capex $555.00 Million) represents 0% of total liabilities ($12.28 Billion). Check SM Energy Co investment reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
SM Energy Co Financial Flexibility Index (1990–2025)
Historical Financial Flexibility Index trend for SM Energy Co across 36 annual periods. For the full cash flow conversion analysis, see SM operating cash flow.
Annual Financial Flexibility Index for SM Energy Co (1990–2025)
Year-by-year free cash flow to debt coverage for SM Energy Co. Explore SM operating cash to total liabilities to assess how comfortably operating cash covers total debt obligations.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.78x | $3.45 Billion | $2.01 Billion | $4.44 Billion | ▼ -35.2% |
| 2024 | 1.20x | $5.20 Billion | $1.78 Billion | $4.34 Billion | ▲ +23.8% |
| 2023 | 0.97x | $2.67 Billion | $1.57 Billion | $2.76 Billion | ▼ -0.8% |
| 2022 | 0.98x | $2.57 Billion | $1.69 Billion | $2.63 Billion | ▲ +68.3% |
| 2021 | 0.58x | $1.84 Billion | $1.16 Billion | $3.17 Billion | ▲ +27.4% |
| 2020 | 0.45x | $1.35 Billion | $790.94 Million | $2.96 Billion | ▼ -12.9% |
| 2019 | 0.52x | $1.85 Billion | $823.57 Million | $3.54 Billion | ▼ -12.9% |
| 2018 | 0.60x | $2.06 Billion | $720.63 Million | $3.43 Billion | ▲ +51.8% |
| 2017 | 0.39x | $1.49 Billion | $515.39 Million | $3.78 Billion | ▼ -54.3% |
| 2016 | 0.86x | $3.37 Billion | $552.80 Million | $3.90 Billion | ▲ +31.3% |
| 2015 | 0.66x | $2.48 Billion | $978.35 Million | $3.77 Billion | ▼ -30.0% |
| 2014 | 0.94x | $3.98 Billion | $1.46 Billion | $4.23 Billion | ▼ -1.4% |
| 2013 | 0.95x | $2.95 Billion | $1.34 Billion | $3.10 Billion | ▲ +9.0% |
| 2012 | 0.87x | $2.44 Billion | $921.97 Million | $2.79 Billion | ▼ -14.7% |
| 2011 | 1.02x | $2.39 Billion | $760.53 Million | $2.34 Billion | ▲ +34.1% |
| 2010 | 0.76x | $1.17 Billion | $497.10 Million | $1.53 Billion | ▲ +30.0% |
| 2009 | 0.59x | $815.43 Million | $436.11 Million | $1.39 Billion | ▼ -38.8% |
| 2008 | 0.96x | $1.51 Billion | $678.22 Million | $1.57 Billion | ▲ +13.1% |
| 2007 | 0.85x | $1.45 Billion | $630.79 Million | $1.71 Billion | ▼ -17.7% |
| 2006 | 1.03x | $1.19 Billion | $467.70 Million | $1.16 Billion | ▲ +6.2% |
| 2005 | 0.97x | $680.26 Million | $409.38 Million | $699.43 Million | ▼ -11.3% |
| 2004 | 1.10x | $505.35 Million | $237.16 Million | $461.00 Million | ▼ -6.5% |
| 2003 | 1.17x | $404.56 Million | $204.32 Million | $345.20 Million | ▼ -14.9% |
| 2002 | 1.38x | $326.43 Million | $141.71 Million | $236.98 Million | ▼ -30.7% |
| 2001 | 1.99x | $298.30 Million | $127.49 Million | $150.16 Million | ▼ -10.3% |
| 2000 | 2.21x | $157.51 Million | $92.27 Million | $71.15 Million | ▲ +12.7% |
| 1999 | 1.96x | $81.10 Million | $40.80 Million | $41.30 Million | ▼ -6.0% |
| 1998 | 2.09x | $104.00 Million | $45.40 Million | $49.80 Million | ▲ +5.8% |
| 1997 | 1.97x | $124.60 Million | $43.10 Million | $63.10 Million | ▲ +163.9% |
| 1996 | 0.75x | $51.70 Million | $24.20 Million | $69.10 Million | ▼ -44.8% |
| 1995 | 1.36x | $40.40 Million | $17.70 Million | $29.80 Million | ▼ -15.0% |
| 1994 | 1.59x | $37.30 Million | $20.30 Million | $23.40 Million | ▼ -12.6% |
| 1993 | 1.82x | $33.20 Million | $19.70 Million | $18.20 Million | ▼ -40.3% |
| 1992 | 3.06x | $44.30 Million | $27.00 Million | $14.50 Million | ▲ +156.9% |
| 1991 | 1.19x | $27.00 Million | $11.70 Million | $22.70 Million | ▼ -33.8% |
| 1990 | 1.80x | $23.00 Million | $15.10 Million | $12.80 Million | — |