SM Energy (SM) FY2019 results: revenue $1.6 billion, down 23.1% on the year
SM Energy Co. (SM) reported revenue of $1.6 billion for fiscal 2019, the year ended 31 December 2019, down 23.1% on the year before. Net income was -$187 million, and diluted earnings per share $-1.66. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$1.6 billion
-23.1% on the year
FY2012FY2019
Operating margin
-4.4%
40.5% a year earlier
FY2012FY2019
Net income
-$187 million
FY2012FY2019
Diluted EPS
-$1.66
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,590
2,067
1,129
-23.1%
Cost of revenue
501
487
508
+2.7%
Gross profit
1,089
1,580
621
-31.0%
Gross margin
68.5%
76.4%
55.0%
Operating income
-70.0
836
-164
Operating margin
-4.4%
40.5%
-14.5%
Interest expense
159
161
179
-1.1%
Pre-tax income
-231
652
-344
Income tax
-44.0
143
-183
Effective tax rate
n/a
22.0%
n/a
Net income
-187
508
-161
Net margin
-11.8%
24.6%
-14.2%
Diluted EPS
-$1.66
$4.48
-$1.44
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
824
721
515
+14.3%
Cash from investing
-1,013
-588
-202
Cash from financing
112
-369
-12.3
Share-based compensation
24.3
23.9
22.7
+1.7%
Dividends paid
11.3
11.2
11.1
+0.6%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
113m
114m
111m
-0.8%
Shares outstanding at period end
113m
112m
112m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,749
2,920
2,395
-5.9%
Debt
2,733
2,596
2,909
+5.3%
Operating lease liabilities
23.1
n/a
n/a
Other liabilities
787
836
873
-5.8%
Total liabilities and equity
6,292
6,353
6,177
-1.0%
Fixed assets
5,954
5,831
5,555
+2.1%
Cash and equivalents
0.0
78.0
314
-100.0%
Receivables
185
168
160
+10.3%
Other assets
154
276
148
-44.3%
Total assets
6,292
6,353
6,177
-1.0%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.