SMC

Summit Midstream

Fundamental data last updated:April 13, 2026

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company profile

SECTOR

Energy

industry

Oil & Gas Midstream

Exchange

NYSE

County of HQ

United States

Next Earnings Date

06/15/26

Business Summary

Summit Midstream operates energy infrastructure assets that transport and process hydrocarbons, generating cash primarily through fee-based contracts tied to volumes rather than direct commodity price exposure. The business model depends on maintaining throughput across pipelines and gathering systems while controlling operating costs. Its moat is rooted in physical infrastructure, regional connectivity, and long-term producer relationships that are expensive to replicate. However, the durability of that moat depends heavily on balance sheet strength and sustained production volumes in the basins it serves.

 


Analyze SMC on TradingView

VALUATION

P/E

-

Market Cap ($M USD)

$358

Forward P/E

30

PEG

-

PRICE TO SALES

0.6

PRICE TO BOOK

0.9

EV / EBITDA

7.3

5-Year Average P/E

Free Cash Flow Yield

DCF Value

Graham Number

Price to FCF

EV to FCF

Earnings Yield

FCF Yield

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$1.61

Next Year EPS Growth Estimate

$0.96

Next Year Revenue Growth Estimate

8.30%

Return on Equity (ROE)

-3.60%

FREE CASH FLOW

Operating Margin

15.80%

Debt-to-Equity

1.9

Piotroski F-Score

7

Altman Z-Score

0.4

Return on Invested Capital (ROIC)

3.90%

Current Ratio

0.6

Quick Ratio

Net Debt to EBITDA

Interest Coverage

Gross Profit margin

FCF PER SHARE

REVENUE PER SHARE

Analyze SMC on TradingView

Gainseekers Quantitative Analysis

Summary

This is a highly distressed balance sheet masquerading as a value play. A Forward P/E of 30 paired with EPS collapsing to an estimated -$1.61 next year is not growth — it is earnings deterioration being priced optimistically. The Altman Z-Score of 0.4 signals severe financial distress risk, while a Current Ratio of 0.6 and Debt/Equity of 15.80% reinforce liquidity pressure. Even though Price/Book at 0.9 and Price/Sales at 0.6 look optically cheap, the market is discounting real solvency risk, not mispricing opportunity.

AI Exposure / Tech Reliance

As an Oil & Gas Midstream operator, technological disruption risk from AI is indirect rather than existential. AI may improve pipeline monitoring, logistics optimization, and cost efficiency, but it will not fundamentally alter demand for physical midstream infrastructure. The company’s challenge is financial resilience, not technological obsolescence.

The Bull Case

A deep value investor could argue that a $358M market cap business trading at 0.6x sales and 0.9x book with a Piotroski F-Score of 7 signals improving internal fundamentals despite external skepticism. Return on Equity at 8.30% and ROIC at 3.90% show the business is still generating returns above zero despite a -3.60% operating margin, suggesting potential normalization leverage if costs stabilize. Institutional ownership at 46.00% indicates serious capital is still involved. If earnings volatility reverses and the forward loss estimate proves conservative, the valuation could re-rate sharply from distressed levels.

The Bear Case

The bear case is overwhelming. A Debt/Equity ratio of 15.80% combined with an Altman Z-Score of 0.4 is a flashing insolvency warning, not a cyclical dip. Operating Margin of -3.60% and a forecasted EPS of -$1.61 suggest forward earnings compression while the stock trades at 30x forward earnings — an aggressive multiple for a shrinking profit base. The Current Ratio of 0.6 signals liquidity stress, and with no PEG ratio or dividend support, investors are relying purely on turnaround execution in a capital-intensive industry where leverage mistakes are fatal.

Market Sentiment & Smart Money

Short Interest %

3.80%

Analyst Consensus

2

Average Analyst Price Target

$46.00

Institutional Ownership %

47.60%

1-Year Beta

0.67

Insider Buying % (6 Mo)

23.30%%

Distance to 52-Week High

85.90%

Distance to 52-Week Low

150.40%

EARNINGS SURPRISE %

50-DAY SMA

200-DAY SMA

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.