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Summit Midstream Corp. (SMC)

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Summit Midstream Corp. (SMC) reported revenue of $155 million for Q2 FY2026, the quarter ended 30 June 2026, up 10.6% on the same quarter a year earlier. Net income was $2 million, and diluted earnings per share $0.11. The figures are the company's own, from the 10-Q it filed with the SEC on 10 August 2026.

Revenue$155 millionup 10.6%
Net income$2 million
Diluted EPS$0.11
QuarterQ2 FY2026ended 30 June 2026

Summit Midstream (SMC) in brief

Summit Midstream (SMC) reported revenue of $562 million for fiscal 2025, the year ended 31 December 2025, up 30.8% on the year before.
Read moreNet loss was $6 million and the diluted loss per share $1.61. Revenue was $430 million in fiscal 2024 and $459 million in fiscal 2023. Net income in the same years was a loss of $122 million and a loss of $52 million. Over the twelve months to 30 June 2026, Summit Midstream reported revenue of $583 million and net loss of $4 million. Summit Midstream had 11 million shares outstanding at the latest filed count. At the close of 30 October 2026 the market cap of Summit Midstream was $330 million.

Ratios

From the filings

ROE-0.6%
ROCE4.6%
Operating margin14.6%
Net margin-0.6%
FCF margin7.7%
Interest cover0.84
Debt to equity2.07
Cash conversionn/a
Share count, last 12 months12.8%
Sales CAGR, 3 yearsn/a
Profit CAGR, 3 yearsn/a
EPS, TTM-$1.11

At the close of 30 October 2026

Price$31.02
Market cap$330 million
Stock P/En/a
Price to book0.55
EV / EBITDA7.98
Dividend yieldn/a
Market cap / sales0.57
52-week high$34.96
52-week low$21.20
Price, 1 year40.2%
Price CAGR, 3 years17.9%
Price CAGR, 5 years-0.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Summit Midstream Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
SMCgreeksoup.ai
Daily prices to 30 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on SMC

Dividendsno dividend in its filings for fiscal 2023 onward
Filings16 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 regulation FD disclosure; 1 shareholder vote; 1 material agreement; 1 unregistered sale of equity
Planned insider sales2 Form 144 notices in twelve months, $470,400; latest 2 July 2026
Options tapeput/call 0.02 by open interest at the 30 October 2026 close
13F holders74 funds reported a position for the quarter to 30 June 2026; largest Invesco Ltd.
Insider trading3 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest159,989 shares short, 1.52 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 11 quarters

Q3 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025 †Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue121119101102107133140147142139155
Cost of revenue27.130.229.628.226.935.435.938.139.739.449.1
Gross profit94.188.771.774.280.197.310410910399.8106
Gross margin78%75%71%72%75%73%74%74%72%72%68%
Operating income25.8-54.76.811.6-5.714.614.225.218.416.325.0
Operating margin21%-46%7%11%-5%11%10%17%13%12%16%
Interest expense34.637.831.525.720.422.523.924.224.125.027.4
Pre-tax income3.9133-24.4-55.0-20.24.9-5.05.5-7.9-4.25.6
Tax rate2%0%n/an/an/a6%n/a10%n/an/a19%
Net income0.3129-31.0-202-18.82.0-8.0-1.61.6-5.31.6
Net margin0%109%-31%-197%-18%2%-6%-1%1%-4%1%
Diluted EPS-$0.27$11.47-$2.91-$19.25-$2.40-$0.16-$0.66-$0.13-$0.66-$0.43$0.11
Operating cash flown/a43.6-12.69.221.616.037.226.753.76.943.9
Capital expendituren/a16.410.510.915.820.626.422.919.119.325.0
Free cash flown/a27.2-23.2-1.85.9-4.610.83.834.5-12.418.9
Shares outstanding11mn/an/a11mn/an/an/an/an/an/an/a
Filing10-Q10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 3 fiscal years and the trailing twelve months

FY2023FY2024FY2025TTM
Revenue459430562583
Cost of revenue112115149166
Gross profit346315413417
Gross margin75.5%73.2%73.5%71.5%
Operating income76.6-41.972.484.9
Operating margin16.7%-9.8%12.9%14.6%
Interest expense14111594.7101
Pre-tax income-38.633.5-2.4-0.9
Income tax0.3147-0.50.0
Effective tax raten/a437.8%n/an/a
Net income-51.5-122-5.9-3.6
Net margin-11.2%-28.4%-1.1%-0.6%
Diluted EPS-$6.11-$12.78-$1.61-$1.11
Filing10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
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.

Revenue by segment FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Rockies25526932958.6%
Mid-Con45.156.915928.3%
Piceance91.481.069.912.4%
Permian3.63.63.60.6%
Corporate and other-0.00.70.0n/a
Northeast63.818.90.0n/a
RockiesMid-ConPiceancePermianCorporate and otherNortheast
459FY2023430FY2024562FY2025

$ million; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Corporate and other is below zero in FY2023 as the 10-K filed it, so it has no share or block for that year.

Revenue by product or service FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Natural gas, NGLs and condensate sales17919526547.2%
Gathering services and related fees24820125645.5%
Other revenues31.433.741.47.4%
Natural gas, NGLs and condensate salesGathering services and related feesOther revenues
459FY2023430FY2024562FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2023FY2024FY2025TTM
Operating cash flow12761.8134131
Capital expenditure68.953.689.086.3
Free cash flow58.08.244.644.8
Free cash flow margin12.6%1.9%7.9%7.7%
Cash from investing-74.8487-163-93.9
Cash from financing-49.0-54024.0-31.0
Depreciation and amortisation123101114109
Share-based compensation6.68.67.88.4
Diluted shares, weighted10m11m12m14m
Filing10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2023FY2024FY2025TTM
Funded by
Shareholders' equity719468546598
Non-controlling interest0.0497400320
Redeemable equity1251331410.0
Debt1,4719941,0461,240
Operating lease liabilities7.43.43.6n/a
Finance lease liabilities1.21.61.4n/a
Other liabilities172263249249
Total liabilities and equity2,4942,3592,3882,407
Owned
Fixed assets1,6991,7851,8441,839
Intangible assets176154154150
Cash and equivalents14.022.89.321.0
Receivables76.377.169.887.2
Other assets530320311310
Total assets2,4942,3592,3882,407
Filing10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/an/a20.9%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/an/a-11.5%-1.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Summit Midstream's revenue in fiscal 2025?

Summit Midstream (SMC) reported revenue of $562 million for fiscal 2025, the year ended 31 December 2025, up 30.8% on the year before.

How much did Summit Midstream earn in fiscal 2025?

Net loss was $6 million for fiscal 2025, and the diluted loss per share $1.61.

What is Summit Midstream's market cap?

The market cap of Summit Midstream was $330 million at the close of 30 October 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Williams Companies, Inc. WMB$91.0 billion29.6323.3%38.2%8.7%2.132.8%
National Grid plc NGG *$87.3 billion19.258.2%30.7%-3.8%1.192.5%
Enterprise Products Partners L.P. EPD$82.4 billion13.24n/a13.4%6.8%n/an/a
Kinder Morgan, Inc. KMI$75.5 billion20.9111.4%29.0%11.7%1.053.5%
Targa Resources Corp. TRGP$67.5 billion30.1162.0%22.9%-2.0%5.351.3%
TC Energy Corporation TRP *$67.2 billion27.6112.9%52.7%10.7%2.203.7%
Western Midstream Partners, LP WES$19.2 billion14.59n/a40.2%18.0%n/an/a
DT Midstream, Inc. DTM$12.7 billion27.089.8%49.4%13.4%0.682.8%
Antero Midstream Corp. AM$10.2 billion15.1130.5%81.3%7.3%1.424.2%
Kinetik Holdings Inc. KNTK$9.2 billion20.50n/a10.5%14.1%n/an/a
Archrock, Inc. AROC$5.6 billion17.0421.2%n/a11.5%1.512.7%
Kodiak Gas Services, Inc. KGS$4.7 billion55.773.7%27.4%8.2%1.264.1%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
NextEra Energy Inc. NEE$175.6 billion15.0918.9%30.0%9.6%1.852.9%
Southern Co. SO$107.8 billion22.5811.0%24.2%6.4%1.783.2%
Duke Energy Corp. DUK$99.4 billion19.179.6%27.8%6.3%1.673.3%
Constellation Energy Corp. CEG$93.2 billion25.5710.8%14.7%26.0%0.770.6%
Williams Companies, Inc. WMB$91.0 billion29.6323.3%38.2%8.7%2.132.8%
National Grid plc NGG *$87.3 billion19.258.2%30.7%-3.8%1.192.5%
Enterprise Products Partners L.P. EPD$82.4 billion13.24n/a13.4%6.8%n/an/a
Kinder Morgan, Inc. KMI$75.5 billion20.9111.4%29.0%11.7%1.053.5%
American Electric Power Co. Inc. AEP$70.9 billion21.2710.2%23.4%11.1%1.602.9%
Targa Resources Corp. TRGP$67.5 billion30.1162.0%22.9%-2.0%5.351.3%
Cheniere Energy, Inc. LNG$67.5 billion23.0546.3%28.1%22.5%3.68n/a
TC Energy Corporation TRP *$67.2 billion27.6112.9%52.7%10.7%2.203.7%
ONEOK Inc. OKE$61.2 billion15.0717.4%14.2%36.8%1.224.4%
Dominion Energy, Inc. D$58.6 billion22.149.1%22.5%21.5%1.664.0%
Sempra SRE$56.3 billion24.957.0%n/a1.6%1.123.0%
Entergy Corp. ETR$51.4 billion28.229.9%22.9%9.5%1.902.3%
Xcel Energy Inc. XEL$50.7 billion18.6110.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.8 billion17.918.8%19.8%6.7%1.773.6%
Vistra Corp. VST$46.5 billion23.3440.5%18.5%3.8%3.570.7%
Consolidated Edison Inc. ED$43.1 billion19.158.6%18.0%9.5%1.08n/a
WEC Energy Group, Inc. WEC$38.2 billion21.0712.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$37.1 billion18.4911.6%23.1%12.7%1.423.5%
Venture Global, Inc. VG$37.0 billion11.6438.9%37.6%100.7%4.880.2%
Cheniere Energy Partners, L.P. CQP$32.4 billionn/an/a34.2%13.2%n/an/a
Ameren Corp. AEE$30.6 billion19.4611.4%24.9%3.8%1.502.6%
Atmos Energy Corp. ATO$29.1 billion20.589.2%37.0%6.5%0.682.0%
Pg&E Corp. PCG$29.0 billion9.768.6%20.2%4.1%1.88n/a
American Water Works Company, Inc. AWK$28.8 billion25.039.5%37.0%5.4%1.372.4%
DTE Energy Co. DTE$28.2 billion21.4010.8%13.3%15.9%2.273.3%
Centerpoint Energy Inc. CNP$28.1 billion24.259.8%24.4%7.8%2.122.1%
Firstenergy Corp. FE$27.2 billion22.569.3%14.9%12.2%2.323.8%
PPL Corp. PPL$26.8 billion21.108.4%24.1%6.7%1.353.1%
Eversource Energy ES$25.8 billion17.778.9%21.5%7.8%1.784.5%
Edison International EIX$22.6 billion6.2520.3%31.8%2.6%2.336.0%
CMS Energy Corp. CMS$22.0 billion25.049.0%13.8%8.2%2.063.2%
Nisource Inc. NI$21.4 billion22.859.8%27.4%10.0%1.912.7%
NRG Energy, Inc. NRG$20.2 billion24.9517.5%6.1%12.8%4.821.9%
Evergy, Inc. EVRG$19.8 billion21.869.1%26.2%3.6%1.613.2%
Western Midstream Partners, LP WES$19.2 billion14.59n/a40.2%18.0%n/an/a
Alliant Energy Corp. LNT$18.6 billion19.9612.0%22.6%5.4%1.612.9%
Talen Energy Corp. TLN$16.4 billionn/a-11.4%2.6%60.8%5.92n/a
Pinnacle West Capital Corp. PNW$12.9 billion20.379.1%20.5%5.7%1.623.4%
DT Midstream, Inc. DTM$12.7 billion27.089.8%49.4%13.4%0.682.8%
Essential Utilities, Inc. WTRG$12.4 billion22.217.9%35.1%9.9%1.214.3%
OGE Energy Corp. OGE$10.2 billion18.5910.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$10.2 billion15.1130.5%81.3%7.3%1.424.2%
Kinetik Holdings Inc. KNTK$9.2 billion20.50n/a10.5%14.1%n/an/a
Idacorp Inc. IDA$8.6 billion22.359.2%23.5%4.5%0.952.4%
Entergy Arkansas, LLC EAI$8.5 billion4.679.9%22.9%n/a1.9013.4%
UGI Corp. UGI$8.3 billion12.9312.9%16.2%-0.5%1.353.9%
National Fuel Gas Co. NFG$7.6 billion11.0517.2%40.3%15.1%0.912.7%
Southwest Gas Holdings, Inc. SWX$6.7 billionn/an/an/an/a0.852.7%
Clearway Energy, Inc. CWEN$6.6 billion41.641.7%13.4%9.9%1.66n/a
Txnm Energy Inc. TXNM$6.4 billion28.166.3%24.4%10.0%1.582.9%
Black Hills Corp. BKH$6.3 billion20.717.6%23.9%2.5%1.143.4%
Archrock, Inc. AROC$5.6 billion17.0421.2%n/a11.5%1.512.7%
Ormat Technologies, Inc. ORA$5.5 billion44.164.9%16.6%31.1%0.600.5%
New Jersey Resources Corp. NJR$5.4 billion14.7013.9%24.8%6.4%1.403.6%
Portland General Electric Co. POR$5.3 billion19.066.3%14.4%1.2%1.164.8%
Spire Inc. SR$5.2 billion9.8115.3%19.7%4.1%2.033.7%
One Gas, Inc. OGS$4.9 billion16.928.1%20.6%-0.8%0.963.4%
NorthWestern Energy Group, Inc. NWE$4.9 billion28.845.9%18.8%10.7%1.243.3%
Kodiak Gas Services, Inc. KGS$4.7 billion55.773.7%27.4%8.2%1.264.1%
MDU Resources Group Inc. MDU$4.2 billion20.776.7%17.0%-1.1%0.882.8%
Otter Tail Corp. OTTR$3.8 billion19.4810.4%17.2%-0.2%0.672.4%
American States Water Co. AWR$3.4 billion23.6712.8%31.8%13.2%0.812.3%
Chesapeake Utilities Corp. CPK$3.3 billion21.759.0%27.3%14.6%1.012.0%
Avista Corp. AVA$3.1 billion13.568.0%18.8%-1.8%1.165.2%
California Water Service Group CWT$3.0 billion21.647.2%19.4%4.8%0.862.7%
H2O America HTO$2.9 billion23.424.8%20.7%4.2%0.952.9%
MGE Energy Inc. MGEE$2.8 billion18.1210.4%22.0%7.1%0.652.6%
Fervo Energy Co. FRVO$2.4 billionn/an/an/an/a0.08n/a
Centuri Holdings, Inc. CTRI$2.2 billion69.453.3%2.7%25.2%0.83n/a
Northwest Natural Holding Co. NWN$2.1 billion16.648.1%22.8%4.4%1.683.9%
NGL Energy Partners LP NGL$2.1 billionn/an/a4.0%5.8%n/an/a
NextDecade Corp. NEXT$2.0 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.7012.9%11.5%5.1%1.29n/a
New Fortress Energy Inc. NFE$1.4 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.1 billion24.392.1%21.8%49.0%0.48n/a
Middlesex Water Co. MSEX$1.1 billion20.509.5%30.5%8.9%0.802.5%
Unitil Corp. UTL$1.0 billion17.658.8%18.9%20.8%1.493.3%
Xplr Infrastructure, LP XIFR$893 million14.570.6%0.0%-2.8%0.57n/a
Hallador Energy Co. HNRG$529 million561.50-0.5%3.7%6.5%0.23n/a
York Water Co. YORW$513 million19.648.1%36.6%9.4%0.642.9%
Genie Energy Ltd. GNE$434 million17.189.8%4.0%10.0%0.031.8%
Consolidated Water Co. Ltd. CWCO$431 million27.197.2%12.3%-1.2%0.002.1%
Cadiz Inc. CDZI$384 millionn/a-789.7%-236.1%-21.3%18.65n/a
Artesian Resources Corp. ARTNA$347 million14.739.2%25.0%5.9%0.723.7%
Summit Midstream Corp. SMC$330 millionn/a-0.6%14.6%20.9%2.07n/a
Montauk Renewables, Inc. MNTK$317 million44.203.0%0.6%4.3%0.57n/a
Clean Energy Fuels Corp. CLNE$316 millionn/a-17.0%-7.3%5.2%0.41n/a
Pure Cycle Corp. PCYO$258 million17.549.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$239 million17.1111.4%17.3%13.8%1.213.8%
Global Water Resources, Inc. GWRS$223 million64.623.7%13.6%10.8%1.623.9%
Stabilis Solutions, Inc. SLNG$81 millionn/a-13.4%-16.2%-19.7%0.13n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
13 companies share its SEC industry code (Natural Gas Transmission); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202610 August 2026EDGAR
10-Q31 March 202611 May 2026EDGAR
10-K31 December 202516 March 2026EDGAR
10-Q30 September 202510 November 2025EDGAR
10-Q30 June 202511 August 2025EDGAR
10-Q31 March 202512 May 2025EDGAR
10-K31 December 202411 March 2025EDGAR
10-Q30 September 202412 November 2024EDGAR