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Summit Midstream CorporationNYSE:SMC Stock Report

Market Cap US$411.5m
Share Price
US$29.78
US$47
36.6% undervalued intrinsic discount
1Y2.8%
7D-6.9%
Portfolio Value
​
View

Summit Midstream Corporation

NYSE:SMC Stock Report

Market Cap: US$411.5m

Summit Midstream (SMC) Stock Overview

Owns, develops, and operates midstream energy infrastructure assets primarily shale formations in the continental United States. More details

SMC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance0/6
Financial Health3/6
Dividends0/6

Rewards

Trading at 71% below our estimate of its fair value

Earnings are forecast to grow 103.72% per year

Trading at good value compared to peers and industry

Risk Analysis

No risks detected for SMC from our risk checks.

SMC Community Fair Values

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Analyst Price Targets

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Summit Midstream Corporation Competitors

Price History & Performance

Summary of share price highs, lows and changes for Summit Midstream
Historical stock prices
Current Share PriceUS$29.78
52 Week HighUS$33.50
52 Week LowUS$19.13
Beta0.84
1 Month Change3.47%
3 Month Change2.94%
1 Year Change2.83%
3 Year Change108.25%
5 Year Change25.39%
Change since IPO-90.60%

Recent News & Updates

Seeking Alpha • Mar 26

Summit Midstream: One More Year Of Transition

Summary Summit Midstream Corp remains a strong buy, driven by undervalued natural gas assets and robust long-term demand fundamentals. SMC posted $60 million in Q4'25 adjusted EBITDA, $17 million FCF, and maintains a manageable 3.9x leverage ratio. The Double E pipeline, with new take-or-pay contracts and potential expansion, is poised to drive significant EBITDA growth. Balance sheet improvements, including debt reduction and Series A dividend repayment, position SMC for enhanced free cash flow. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha • Mar 26

Summit Midstream: One More Year Of Transition

Summary Summit Midstream Corp remains a strong buy, driven by undervalued natural gas assets and robust long-term demand fundamentals. SMC posted $60 million in Q4'25 adjusted EBITDA, $17 million FCF, and maintains a manageable 3.9x leverage ratio. The Double E pipeline, with new take-or-pay contracts and potential expansion, is poised to drive significant EBITDA growth. Balance sheet improvements, including debt reduction and Series A dividend repayment, position SMC for enhanced free cash flow. Read the full article on Seeking Alpha
Analysis Article • May 14

Here's What's Concerning About Summit Midstream's (NYSE:SMC) Returns On Capital

When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Analysis Article • Apr 07

Summit Midstream (NYSE:SMC) Has A Somewhat Strained Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Mar 28

Summit Midstream: Likely Common Dividend Resumption Could Pop The Stock

Summary Summit Midstream Corporation's Q4 results were decent, with adjusted EBITDA at $46.2M and free cash flow at $6.6M, aligning with expectations. 2025 guidance projects adjusted EBITDA between $245M-$280M, driven by well connections in the Rockies and the Moonrise Midstream acquisition. Free cash flow is expected to hit $100M, aiding deleveraging to a 3.5x leverage target and resumption of preferred dividends, potentially benefiting common shareholders. Despite trading like a small MLP, SMC's valuation suggests significant upside, with potential equity value appreciation over 70%, though risks include oil price sensitivity and weather impacts. Read the full article on Seeking Alpha
Seeking Alpha • Mar 08

Summit Midstream: Rough Ride Ahead

Summary Summit Midstream's recent financial reorganization introduces a new major shareholder. The troubled past of Summit Midstream may lead to market mispricing compared to future prospects. The stock's volatility is heightened by the lack of historical performance under the current structure. Investors should be aware of the risk of potential mispricing due to the company's recent turnaround efforts and new shareholder dynamics. The company has a large exposure to the coming natural gas pricing recovery. Read the full article on Seeking Alpha
Analysis Article • Mar 08

Summit Midstream Corporation's (NYSE:SMC) Price Is Right But Growth Is Lacking

You may think that with a price-to-sales (or "P/S") ratio of 0.9x Summit Midstream Corporation ( NYSE:SMC ) is a stock...
Analysis Article • Jan 20

Summit Midstream (NYSE:SMC) Has More To Do To Multiply In Value Going Forward

There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...
Seeking Alpha • Dec 09

Summit Midstream Has A New Major Shareholder

Summary Summit Midstream's management avoided bankruptcy and turned the company from "fairly hopeless" to viable, with Tailwater Capital becoming a major shareholder. Tailwater Capital's involvement, with midstream experience, can be a big plus in the future. With a debt ratio under 4 and deferred preferred stock distributions gone, the company can now focus on sustainable growth. Conversion to a C-Corp will likely enhance future prospects. This idea has above-average risks. But not many managements accomplish what this management has done. Read the full article on Seeking Alpha
Seeking Alpha • Oct 15

Summit Midstream Keeps Digging

Summary Summit Midstream's previous management's complacency led to severe financial troubles. New management has announced an acquisition, marking a significant step in the company's long recovery to becoming a competitive industry player. Long-term shareholders have suffered substantial losses that are unlikely to be recovered. The conversion to a corporation involved canceling preferred dividends in arrears, addressing one of the major financial issues. This is a tale of how shareholders need to avoid complacent management before the trouble becomes apparent. Read the full article on Seeking Alpha
Analysis Article • Oct 04

Benign Growth For Summit Midstream Corporation (NYSE:SMC) Underpins Its Share Price

When close to half the companies operating in the Oil and Gas industry in the United States have price-to-sales ratios...
Seeking Alpha • Oct 03

Summit Midstream Corporation: Many Tailwinds Are Now In Play

Summary Summit Midstream Partners' acquisition of Tall Oak Midstream for $450M is set to boost EBITDA and cash flow, enhancing shareholder returns. Tensions in the Middle East and potential oil & gas price increases make Summit's domestic focus and balanced oil-gas exposure attractive. Summit's favorable valuation, with P/E and cash flow ratios significantly lower than the sector average, presents a strong investment opportunity. Access to the Gulf of Mexico markets and limited capital expenditure needs position Summit for growth, and dividends or buybacks are on deck for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Aug 27

Summit Midstream's Earnings Reaffirm It As A Great Small Cap

Summary Summit Midstream Corporation is a small-cap company worth almost $400 million that was heavily impacted by COVID-19. The company's non-premium assets have posed challenges, but efforts to clean up the balance sheet are underway. Summit Midstream is focused on generating long-term shareholder returns despite the difficult position it currently finds itself in. Read the full article on Seeking Alpha

Shareholder Returns

SMCUS Oil and GasUS Market
7D-6.9%-5.1%2.2%
1Y2.8%29.3%31.1%

Return vs Industry: SMC underperformed the US Oil and Gas industry which returned 29.3% over the past year.

Return vs Market: SMC underperformed the US Market which returned 31.1% over the past year.

Price Volatility

Is SMC's price volatile compared to industry and market?
SMC volatility
SMC Average Weekly Movement4.0%
Oil and Gas Industry Average Movement6.1%
Market Average Movement7.3%
10% most volatile stocks in US Market16.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: SMC has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: SMC's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2009296J. Denekewww.summitmidstream.com

Summit Midstream Corporation owns, develops, and operates midstream energy infrastructure assets primarily shale formations in the continental United States. It operates through Rockies, Permian, Piceance, Mid-Con, and Northeast segments. The company owns, develops, and operates natural gas, crude oil, produced water gathering systems, and transmission pipelines.

Summit Midstream Corporation Fundamentals Summary

How do Summit Midstream's earnings and revenue compare to its market cap?
SMC fundamental statistics
Market capUS$411.54m
Earnings (TTM)-US$19.57m
Revenue (TTM)US$563.03m
0.7x
P/S Ratio
-21.0x
P/E Ratio

Is SMC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
SMC income statement (TTM)
RevenueUS$563.03m
Cost of RevenueUS$298.28m
Gross ProfitUS$264.75m
Other ExpensesUS$284.32m
Earnings-US$19.57m

Last Reported Earnings

Dec 31, 2025

Next Earnings Date

May 11, 2026

Earnings per share (EPS)-1.42
Gross Margin47.02%
Net Profit Margin-3.48%
Debt/Equity Ratio96.1%

How did SMC perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 16:08
End of Day Share Price 2026/05/08 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Summit Midstream Corporation is covered by 13 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ethan BellamyBaird
Heejung RyooBarclays
Gabriel MoreenBofA Global Research