Summit Midstream CorpSummit Midstream Corp
Summit Midstream Corp

Summit Midstream Corp

SMC
Energy·Oil, Gas & Consumable Fuels

Summit Midstream Corp. engages in developing, owning, and operating midstream energy infrastructure assets. It operates through the following segments: Rockies, Permian, Piceance, Mid-Con, and Northeast. The Rockies segment includes the midstream assets located in the Williston Basin and the DJ Basin. The Permian segment refers to the equity method investment in Double E. The Piceance segment is involved in the midstream assets located in the Piceance Basin. The Mid-Con segment focuses on the midstream assets located in the Barnett Shale and Arkoma Basin. The Northeast segments cover its previously owned midstream assets located in the Utica and Marcellus shale plays, and the previously owned equity method investment in Ohio Gathering that was focused on the Utica Shale. The company was founded on May 14, 2024 and is headquartered in Houston, TX.

Texas; U.S.A
Market cap
No dataNo data
Revenue
$562.1M+30.8% YoY
Net income
$-5.9M+95.1% YoY
Free cash flow
$44.6M+446.0% YoY

Market

Listed stock
SMCPriceNYSE
Loading…Loading…1Y

Financial performance

Revenue
$562.1M+30.8% YoY
Operating income
$-226.1M+15.3% YoY
Net income
$-5.9M+95.1% YoY
Free cash flow
$44.6M+446.0% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $400.6M, 2022 $369.6M, 2023 $458.9M, 2024 $429.6M, 2025 $562.1M. Operating income: 2021 $55.8M, 2022 $-53.5M, 2023 $76.6M, 2024 $-266.9M, 2025 $-226.1M. Net income: 2021 $-36.6M, 2022 $-140.6M, 2023 $-63.1M, 2024 $-122.2M, 2025 $-5.9M. Free cash flow: 2021 $140.1M, 2022 $68.3M, 2023 $58M, 2024 $8.2M, 2025 $44.6M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
30.8%+3722 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $55.8M, 2022-12-31 $-53.5M, 2023-12-31 $76.6M, 2024-12-31 $-266.9M, 2025-12-31 $-226.1M. Net income: 2021-12-31 $-36.6M, 2022-12-31 $-140.6M, 2023-12-31 $-63.1M, 2024-12-31 $-122.2M, 2025-12-31 $-5.9M. Free cash flow: 2021-12-31 $140.1M, 2022-12-31 $68.3M, 2023-12-31 $58M, 2024-12-31 $8.2M, 2025-12-31 $44.6M

Growth heatmap

2022202320242025CAGR
Revenue
-7.7%
+24.2%
-6.4%
+30.8%
+8.8%
Gross profit
-14.7%
+17.8%
+28.1%
+31.3%
+14.0%
Operating income
-195.9%
+243.2%
-448.4%
+15.3%
No data
Free cash flow
-51.3%
-15.0%
-85.9%
+446.0%
-24.9%

Earnings quality

Operating cash flow
$133.6M+116.3% YoY
Net income
$-5.9M+95.1% YoY
Free cash flow
$44.6M+446.0% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -2250%, 2024-12-31 -51%, 2023-12-31 -201%, 2022-12-31 -70%, 2021-12-31 -451%. Free cash flow: 2025-12-31 -750%, 2024-12-31 -7%, 2023-12-31 -92%, 2022-12-31 -49%, 2021-12-31 -383%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
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Net debt
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Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
No data
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