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NYSE · Utilities

Summit Midstream Corp (SMC)

As-reported financials and SEC filings for Summit Midstream Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Summit Midstream Corp

Summit Midstream Corp operates midstream energy infrastructure assets in key shale formations across the United States. The company provides gathering, compression, dehydration, treatment, and processing services for natural gas, crude oil, and produced water, primarily under long-term fee-based contracts. It serves producers in various basins including the Williston, DJ, Barnett Shale, Piceance, Permian, and Arkoma basins, and also operates the Double E Pipeline for natural gas transportation in the Permian Basin.

Snapshot

Revenue
$562.1M
Revenue growth (YoY)
30.8%
Net income
$-5.9M
Diluted EPS
$-1.61
Gross margin
73.5%
Operating margin
Net margin
-1.1%
FCF margin
7.9%
ROE
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$481.9M
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Summit Midstream

  • Revenue grew 30.8% to $562M in FY2025, after a 6.4% decline the year before.
  • Most recent quarter Q2 FY2026: revenue $155M, up 10.6% from Q2 FY2025.
  • Free cash flow was $45M in FY2025, 7.9% of revenue.
  • Net loss narrowed to $6M in FY2025, from $122M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Summit Midstream’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin73.5%
88th percentile of 26
Net margin-1.1%
11th percentile of 91
FCF margin7.9%
79th percentile of 76
Revenue growth (YoY)+30.8%
95th percentile of 94
Short interest3.94d
35th percentile of 98

Summit Midstream’s revenue growth of +30.8% ranks in the 95th percentile of the 94 Utilities companies reporting it. Summit Midstream’s net margin of -1.1% ranks in the 11th percentile of the 91 Utilities companies reporting it. Summit Midstream’s gross margin of 73.5% ranks in the 88th percentile of the 26 Utilities companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $77,272. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 4 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+4 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
2
1 trimmed, 1 exited
Combined position
$3.6M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$1.8M63.9KAdded
D. E. ShawquantQ2 2026$741,53426.0KAdded
Millennium ManagementquantQ2 2026$508,59617.9KNew
Point72 Asset ManagementquantQ2 2026$508,19717.8KReduced

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$77K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-02
filed 2026-07-06
Johnston James DavidExecutive VP, GC, CCO and SecySell2.6K$29.72$77K
2026-05-19
filed 2026-05-21
PETERS JERRY LDirectorSell10.0K$32.00$320K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
272.9K
settled 2026-08-14
Change vs prior
+2.1%
vs previous settlement
Days to cover
3.94
at avg daily volume
Avg daily volume
69.3K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-14272.9K+2.1%3.94
2026-07-31267.3K+14.2%6.16
2026-07-15234.2K+40.0%5.21
2026-06-30167.3K+2.6%2.06
2026-06-15163.1K+15.7%2.46
2026-05-29140.9K+0.8%1.46
2026-05-15139.8K-14.0%2.63
2026-04-30162.6K-9.2%4.29

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$562.1M$429.6M$458.9M
Gross profit$413.0M$314.6M$346.4M
Operating income
Net income$-5.9M$-122.2M$-51.5M$-123.5M$-19.9M
Diluted EPS$-1.61$-12.78$-6.11

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$9.3M$22.8M$14.0M$13.5M
Current assets$96.9M$118.3M$98.4M
Total assets$2.39B$2.36B$2.49B
Current liabilities$176.8M$174.8M$134.0M
Long-term debt$1.02B$977.0M$1.46B
Total liabilities$1.30B$1.26B$1.65B
Total equity$946.6M$965.1M$718.6M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$133.6M$61.8M$126.9M
Capital expenditure$89.0M$53.6M$68.9M
Free cash flow$44.6M$8.2M$58.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$155.0M10.6%$1.6M$0.11
Q1 FY2026$139.1M4.9%$-5.3M$-0.43
Q4 FY2025$142.3M33.0%$5.6M$0.45
Q3 FY2025$146.9M43.4%$-1.6M$-0.13
Q2 FY2025$140.2M38.4%$-8.0M$-0.66
Q1 FY2025$132.7M11.6%$-1.9M$-0.16
Q4 FY2024$107.0M-15.9%$-12.2M$-1.15
Q3 FY2024$102.4M-15.5%$-204.9M$-19.25

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryNatural Gas Transmission
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2024
SEC CIK2024218

Selected SEC filings

10-K2026-03-16
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-11
View on EDGAR →
10-Q2025-11-10
View on EDGAR →
8-K2026-08-10
View on EDGAR →
8-K2026-06-10
View on EDGAR →
8-K2026-06-01
View on EDGAR →
8-K2026-05-12
View on EDGAR →

Largest Utilities peers

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.