SMC NYSE
Summit Midstream Corp.
1W: +2.8%
1M: +1.0%
3M: +2.0%
YTD: +15.7%
1Y: +38.9%
3Y: +77.5%
5Y: -14.2%
$31.03
-0.27 (-0.86%)
Weekly Expected Move ±5.2%
$28
$30
$31
$33
$34
Credit Risk of going bust: higher than 67% of companies Debt: 74.3% of company value Bonds: $83.6M held by 115 funds, 291 bp over Treasuries → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $3.62 (down 88%), Summit Midstream Corp. would be worth roughly what it owes.
Total debt $1.24B against a stock market value of $427.7M.
Distance to default 3.62 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $619.0M (short-term plus half of long-term), stock volatility 35.1%; Altman Z'' 0.40. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $3.62 (down 88%), Summit Midstream Corp. would be worth roughly what it owes.
Total debt $1.24B against a stock market value of $427.7M.
Distance to default 3.62 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $619.0M (short-term plus half of long-term), stock volatility 35.1%; Altman Z'' 0.40. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Revenue by Segment (5-Year Trend)
Income Trends
Revenue
$562M
+30.8% ▲
5Y CAGR: +7.9%
Gross Profit
$150M
+32.4% ▲
5Y CAGR: +1.0%
Operating Income
$89M
+54.3% ▲
5Y CAGR: +5.1%
Net Income
-$2M
+98.3% ▲
EPS (Diluted)
$-1.61
+87.4% ▲
EBITDA
$204M
-18.7% ▼
5Y CAGR: -11.5%
Profit Margins
Year-over-Year Growth
View Full Income Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | $402M | $370M | $459M | $430M | $562M |
| YoY Growth | +4.5% | -7.7% | +24.2% | -6.4% | +30.8% |
| Cost of Revenue | $156M | $280M | $336M | $317M | $412M |
| Gross Profit | $245M | $90M | $123M | $113M | $150M |
| Gross Margin | 61.1% | 24.2% | 26.8% | 26.3% | 26.6% |
| R&D Expenses | $0 | $0 | $0 | $0 | $0 |
| SG&A Expenses | $59M | $45M | $42M | $56M | $61M |
| Operating Expenses | $59M | $45M | $42M | $56M | $61M |
| Operating Income | $186M | $45M | $81M | $57M | $89M |
| Operating Margin | 46.4% | 12.1% | 17.6% | 13.4% | 15.8% |
| Interest Expense | $66M | $102M | $141M | $115M | $95M |
| Income Before Tax | -$20M | -$141M | -$39M | $34M | -$2M |
| Tax Expense | $327K | $325K | $322K | $147M | -$501K |
| Net Income | -$20M | -$123M | -$39M | -$113M | -$2M |
| Net Margin | -5.0% | -33.4% | -8.5% | -26.3% | -0.3% |
| EPS (Diluted) | $-6.57 | $-12.71 | $-6.11 | $-12.78 | $-1.61 |
| EBITDA | $187M | $81M | $226M | $251M | $204M |
| Shares Outstanding | 7M | 10M | 10M | 11M | 12M |