As of Jun 22, 2026, the SM stock has a P/E ratio of 11.58. The calculation is based on the latest EPS of $2.38 and the stock price of $27.56 per share. An increase of 94% has been observed in the PE ratio compared to its average of 6.0 of the past four quarters.
SM PE ratio history
The mean historical PE ratio of SM Energy over the last nine years is 17.49. The current 11.58 price-to-earnings ratio is 34% less than the historical average. Analyzing the last nine years, SM's PE ratio reached its highest point in the Mar 2019 quarter at 145.75, with a price of $17.49 and an EPS of $0.12. The Mar 2023 quarter saw the lowest point at 2.73, with a price of $28.16 and an EPS of $10.3.
SM Energy PE ratio by year
Maximum annual increase: 46.74% in 2023
Maximum annual decrease: -96.1% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 3.31 | -42.73% | $18.7 | $5.65 |
| 2024 | 5.78 | 2.85% | $38.76 | $6.71 |
| 2023 | 5.62 | 46.74% | $38.72 | $6.89 |
| 2022 | 3.83 | -96.1% | $34.83 | $9.09 |
| 2021 | 98.27 | N/A | $29.48 | $0.3 |
| 2020 | N/A | N/A | $6.12 | -$6.72 |
| 2019 | N/A | N/A | $11.24 | -$1.66 |
| 2018 | 3.41 | N/A | $15.48 | $4.54 |
| 2017 | N/A | N/A | $22.08 | -$1.44 |
| 2016 | N/A | N/A | $34.48 | -$9.9 |
| 2015 | N/A | N/A | $19.66 | -$6.61 |
| 2014 | 3.89 | -87.97% | $38.58 | $9.91 |
| 2013 | 32.34 | N/A | $83.11 | $2.57 |
| 2012 | N/A | N/A | $52.21 | -$0.83 |
| 2011 | 21.63 | 14.87% | $73.1 | $3.38 |
SM Energy PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 13.1 | 295.77% | $31.18 | $2.38 |
| Dec 2025 | 3.31 | -15.99% | $18.7 | $5.65 |
| Sep 2025 | 3.94 | 12.89% | $24.97 | $6.34 |
| Jun 2025 | 3.49 | -16.51% | $24.71 | $7.09 |
| Mar 2025 | 4.18 | -27.68% | $29.95 | $7.16 |
| Dec 2024 | 5.78 | 3.77% | $38.76 | $6.71 |
| Sep 2024 | 5.57 | -10.16% | $39.97 | $7.18 |
| Jun 2024 | 6.2 | -20.41% | $43.23 | $6.97 |
| Mar 2024 | 7.79 | 38.61% | $49.85 | $6.4 |
| Dec 2023 | 5.62 | -2.26% | $38.72 | $6.89 |
| Sep 2023 | 5.75 | 61.97% | $39.65 | $6.89 |
| Jun 2023 | 3.55 | 30.04% | $31.63 | $8.91 |
| Mar 2023 | 2.73 | -28.72% | $28.16 | $10.3 |
| Dec 2022 | 3.83 | 7.58% | $34.83 | $9.09 |
| Sep 2022 | 3.56 | -23.61% | $37.61 | $10.55 |
SM Price vs fair value
SM average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of SM is higher than the 3 and 5-year averages, but it is under its 10-year average.
PE comparison
SM Energy's price to earnings (P/E) of 11.58 is lower than the Energy sector, the industry and its peers average. Looking at the Energy sector average of 16.89, SM Energy's price to earnings (P/E) is 31% lower.
SM PE vs peers
When compared to its peer SN, SM's PE ratio is lower, but it is higher than EXE's and RRC's. SM Energy's PE ratio is trading below the peer average of 12.52.
| Stock name | PE ratio | Market cap |
|---|---|---|
| CRK Comstock Resources Inc | 6.12 | $3.95B |
| EXE Expand Energy Corp. | 6.56 | $21.23B |
| RRC Range Resources Corp | 9.64 | $8.65B |
| SM SM Energy Co | 11.52 | $6.57B |
| SN SharkNinja Inc. | 27.03 | $19.09B |
Frequently asked questions
What is SM Energy's PE ratio?
As of Jun 22, 2026, SM stock has a price to earnings ratio of 11.58.
What is the 3-year average PE ratio for SM Energy (SM)?
Over the last 3 years, the average PE ratio for SM stock is 5.69.
What is the 5-year average PE ratio for SM Energy (SM)?
Over the last 5 years, the average PE ratio for SM stock is 10.84.
What is the highest PE ratio for SM?
Over the last nine years, the quarterly PE ratio reached its highest level at 145.75 in the Mar 2019 quarter.
How does the current PE ratio for SM compare to its historical average?
SM's current price to earnings ratio is 34% below its 9-year historical average.
How is SM's PE ratio calculated (SM Energy PE ratio formula)?
The P/E ratio is calculated by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jun 22, 2026), SM Energy's share price is $27.56. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $2.38. Therefore, SM Energy's price to earnings ratio for today is 11.58. PE RATIO(11.58) = STOCK PRICE($27.56) / TTM EPS($2.38)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.