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MARKETS / NYSE / SMC
NYSE · NATURAL GAS TRANSMISSION · MID CAP

Summit Midstream Corp. SMC

3 fiscal years on record · USD · FY2025 reported · SEC filings only
$562.1M
▲ 30.8% YoY
$-5.9M
$44.6M
▲ 446.0% YoY
In brief

What this company does

Summit Midstream Corporation develops, owns, and operates midstream energy infrastructure assets located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. Its midstream assets gather natural gas produced from pad sites, wells and central receipt points connected to its systems, which is then compressed, dehydrated, treated, and/or processed for delivery to downstream pipelines. As of December 31, 2025, the Company employed 296 people who provide direct, full-time support to its operations. Its AMIs cover approximately 5.9 million surface acres in the aggregate. During 2025, its aggregate natural gas volume throughput averaged 904 MMcf/d and crude oil and produced water volume throughput averaged 73 Mbbl/d. It has an equity method investment in the Double E Pipeline, a 1.6 Bcf/d FERC-regulated interstate natural gas transmission pipeline that commenced operations in November 2021, and as of December 31, 2025, the Company owned a 70% interest in Double E. As of December 31, 2025, the company's reportable segments were Rockies, Permian, Mid-Con, and Piceance. The Company was incorporated in Delaware on May 14, 2024 to serve as the new parent holding company of Summit Midstream Partners, LP, a Delaware master limited partnership formed in May 2012 whose common units, prior to August 1, 2024, were listed on the NYSE under the ticker symbol "SMLP."

Written from the business description in Summit Midstream Corp's annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth
USD 562.1M
Revenue, FY2025 · full 3-year series below
Revenue $M Net income $M
FY2025 · Revenue 562.1 · Net income -5.9
200M400M-50M-100M202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−0 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -0.4% · Net -0.3%
2%4%6%-10%-20%202320242025
ROE
FY2025 · ROE -1.2%
-10%-20%202320242025

Each USD of equity lost 1 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 44.6
20M40M202320242025

Total assetsUSD 2.4B
EquityUSD 546.2M
CashUSD 9.3M
Gross debtUSD 1.0B
Net debtUSD 1.0B
Current ratio0.55×

Net debt stands at 190% of equity.

The 3-year record
3 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023
Revenue $B0.60.40.5
Operating income $B−0.00.0−0.0
EBITDA $B0.10.10.1
Income tax $B−0.00.10.0
Net income $B−0.0−0.1−0.1
Free cash flow $B0.00.00.1
EPS, diluted $−1.61−12.78−6.11
Dividend / sh $···
Payout %···
ROE %−1.2−20.6−7.2
Shares out B·0.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 2 failures · 1 divergences in 12 reconciliationsAUDITED

No fiscal year had a computed check that closed clean. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 80 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente2 failures1 divergent
ActivityNatural Gas Transmission
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2023

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