Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Summit Midstream Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2024
FY2025
Revenue
459
430
562
Cost of revenue
112
115
149
Gross profit
346
315
413
General and administrative
42.1
55.6
61
Interest expense
141
115
94.7
Pre-tax income
-38.6
33.5
-2.41
Income tax
0.32
147
-0.5
Net income to minority interests
0
-5.82
-10.8
Net income
-51.5
-122
-5.94
EPS, basic
-6.11
-12.78
-1.61
EPS, diluted
-6.11
-12.78
-1.61
Shares, basic (weighted)
10.3
10.6
12.1
Shares, diluted (weighted)
10.3
10.6
12.1
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
14
22.8
9.27
Receivables
76.3
77.1
69.8
Other current assets
5.5
16
7.49
Total current assets
98.4
118
96.9
Property, plant and equipment
1,699
1,785
1,844
Lease right-of-use assets
10.4
8.51
5.07
Intangible assets
176
154
154
Other non-current assets
35.2
32.3
27.4
Total assets
2,494
2,359
2,388
Accounts payable
22.7
25.2
31.7
Accrued liabilities
32.4
38.2
24.3
Deferred revenue
10.2
9.6
10.1
Short-term debt
15.5
16.6
21.2
Total current liabilities
134
175
177
Long-term debt
1,455
977
1,024
Lease liabilities
7.36
3.39
3.59
Other non-current liabilities
28.8
20.2
6.53
Total liabilities
1,651
1,261
1,300
Total debt
1,471
994
1,046
Paid-in capital
0
541
638
Retained earnings
0
-183
-203
Shareholders' equity
719
468
546
Minority interests
0
497
400
Total equity
719
965
947
Total liabilities and equity
2,494
2,359
2,388
Cash flow statement
FY2024
FY2024
FY2025
Net income
-38.9
-113
-1.91
Depreciation and amortization
123
101
114
Stock-based compensation
6.57
8.56
7.8
Deferred income tax
0
147
-0.7
Change in receivables
-3.35
3
9.85
Cash from operations
127
61.8
134
Capital expenditures
-68.9
-53.6
-89
Acquisitions
0
-154
Cash from investing
-74.8
487
-163
Debt issued
70
305
133
Debt repaid
-87
-313
-325
Cash from financing
-49
-540
24
Net change in cash
3.11
8.55
-5.52
Free cash flow
58
8.16
44.6
Interest paid
127
102
83.4
Income taxes paid
0.02
0.02
0.3
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $29.95 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
69.7%
Gross profit / revenue.
Pre-tax margin
2.1%
Pre-tax income / revenue.
Net margin
1.6%
Net income / revenue.
FCF margin
4.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
17.8%
Cash from operations / revenue.
Effective tax rate
24.9%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
1.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
0.4%
Net income / average total assets.
Stock-based pay / revenue
1.4%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
13.7%
Capital expenditures / revenue.
D&A / revenue
17.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
30.8%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
31.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
116.3%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
446.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
16.8%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
1.2%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
14.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.25x
Current assets / current liabilities.
Quick ratio
1.08x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Debt / equity
2.05x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
51.5%
Total debt / total assets.
Liabilities / assets
61.5%
Total liabilities / total assets.
Net debt
$1.24B
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
76.9%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.72
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$43.98
Revenue / diluted weighted shares.
FCF per share
$1.80
Free cash flow / diluted weighted shares.
Operating cash flow per share
$7.81
Cash from operations / diluted weighted shares.
Book value per share
$43.24
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
60.2x
Market cap / net income. Only when net income is positive.
P/S
0.98x
Market cap / revenue.
P/B
1.00x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.32x
Market cap / tangible book value, when positive.
P/FCF
24.0x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
5.53x
Market cap / cash from operations, when positive.
EV/Sales
2.98x
Enterprise value / revenue.
EV/FCF
72.7x
Enterprise value / free cash flow, when both are positive.
FCF yield
4.2%
Free cash flow / market cap.
Earnings yield
1.7%
Net income / market cap (the inverse of P/E).
What was Summit Midstream Corp's revenue in fiscal 2025?
Summit Midstream Corp reported revenue of $562.1M for fiscal 2025, 30.8% higher than the year before.
Was Summit Midstream Corp profitable in fiscal 2025?
No. It reported a net loss of $5.9M.
How much free cash flow did Summit Midstream Corp generate in fiscal 2025?
Cash from operations of $133.6M minus capital expenditures of $89.0M left free cash flow of $44.6M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.