vs
Side-by-side financial comparison of SM Energy Co (SM) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
SM Energy Co is the larger business by last-quarter revenue ($704.9M vs $382.7M, roughly 1.8× INNOVATE Corp.). On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -17.3%). Over the past eight quarters, SM Energy Co's revenue compounded faster (12.2% CAGR vs 10.2%).
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
Innovate Corp. is an American public financial services company founded in 1994.
SM vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $704.9M | $382.7M |
| Net Profit | — | $-7.4M |
| Gross Margin | — | 15.4% |
| Operating Margin | 25.9% | 3.7% |
| Net Margin | — | -1.9% |
| Revenue YoY | -17.3% | 61.7% |
| Net Profit YoY | — | 55.4% |
| EPS (diluted) | $0.94 | $-0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $704.9M | $382.7M | ||
| Q3 25 | $811.6M | $347.1M | ||
| Q2 25 | $792.9M | $242.0M | ||
| Q1 25 | $844.5M | $274.2M | ||
| Q4 24 | $852.0M | $236.6M | ||
| Q3 24 | $643.6M | $242.2M | ||
| Q2 24 | $634.6M | $313.1M | ||
| Q1 24 | $559.9M | $315.2M |
| Q4 25 | — | $-7.4M | ||
| Q3 25 | $155.1M | $-8.9M | ||
| Q2 25 | $201.7M | $-19.8M | ||
| Q1 25 | $182.3M | $-24.5M | ||
| Q4 24 | — | $-16.6M | ||
| Q3 24 | $240.5M | $-15.0M | ||
| Q2 24 | $210.3M | $14.4M | ||
| Q1 24 | $131.2M | $-17.4M |
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 15.4% |
| Q4 25 | 25.9% | 3.7% | ||
| Q3 25 | 30.4% | 1.8% | ||
| Q2 25 | 37.2% | 2.0% | ||
| Q1 25 | 32.7% | 1.2% | ||
| Q4 24 | 33.7% | 1.1% | ||
| Q3 24 | 51.4% | 2.4% | ||
| Q2 24 | 44.0% | 9.2% | ||
| Q1 24 | 31.9% | 0.9% |
| Q4 25 | — | -1.9% | ||
| Q3 25 | 19.1% | -2.6% | ||
| Q2 25 | 25.4% | -8.2% | ||
| Q1 25 | 21.6% | -8.9% | ||
| Q4 24 | — | -7.0% | ||
| Q3 24 | 37.4% | -6.2% | ||
| Q2 24 | 33.1% | 4.6% | ||
| Q1 24 | 23.4% | -5.5% |
| Q4 25 | $0.94 | $-0.57 | ||
| Q3 25 | $1.35 | $-0.71 | ||
| Q2 25 | $1.76 | $-1.67 | ||
| Q1 25 | $1.59 | $-1.89 | ||
| Q4 24 | $1.63 | $-0.72 | ||
| Q3 24 | $2.09 | $-1.18 | ||
| Q2 24 | $1.82 | $1.03 | ||
| Q1 24 | $1.13 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $368.0M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $4.8B | $-240.1M |
| Total Assets | $9.3B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $368.0M | $112.1M | ||
| Q3 25 | $162.3M | $35.5M | ||
| Q2 25 | $101.9M | $33.4M | ||
| Q1 25 | $54.0K | $33.3M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | $1.7B | $51.0M | ||
| Q2 24 | $487.9M | $80.2M | ||
| Q1 24 | $506.3M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $4.8B | $-240.1M | ||
| Q3 25 | $4.7B | $-233.3M | ||
| Q2 25 | $4.6B | $-224.8M | ||
| Q1 25 | $4.4B | $-204.2M | ||
| Q4 24 | $4.2B | $-180.4M | ||
| Q3 24 | $4.1B | $-163.1M | ||
| Q2 24 | $3.8B | $-149.0M | ||
| Q1 24 | $3.7B | $-184.4M |
| Q4 25 | $9.3B | $950.1M | ||
| Q3 25 | $9.1B | $913.2M | ||
| Q2 25 | $9.0B | $890.9M | ||
| Q1 25 | $8.8B | $868.0M | ||
| Q4 24 | $8.6B | $891.1M | ||
| Q3 24 | $8.0B | $897.2M | ||
| Q2 24 | $6.7B | $898.9M | ||
| Q1 24 | $6.4B | $943.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $451.9M | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $451.9M | $101.1M | ||
| Q3 25 | $505.0M | $19.2M | ||
| Q2 25 | $571.1M | $40.4M | ||
| Q1 25 | $483.0M | $-14.1M | ||
| Q4 24 | $578.4M | $41.4M | ||
| Q3 24 | $452.3M | $-28.4M | ||
| Q2 24 | $476.4M | $21.5M | ||
| Q1 24 | $276.0M | $-25.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | — | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | 3.26× | — | ||
| Q2 25 | 2.83× | — | ||
| Q1 25 | 2.65× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.88× | — | ||
| Q2 24 | 2.27× | 1.49× | ||
| Q1 24 | 2.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SM
Segment breakdown not available.
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
