Summit Midstream Corp/$SMC
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Capital at risk
About Summit Midstream Corp
Summit Midstream Corp is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets strategically located in unconventional resource basins, shale formations, in the continental U.S. It currently operates natural gas, crude oil and produced water gathering systems in various unconventional resource basins including the Williston Basin, DJ Basin, Barnett Shale, Piceance Basin, Permian Basin, and the Arkoma Basin. The company's reportable segments are: Rockies, Permian, Mid-Con, Piceance, and Northeast. Maximum revenue is generated from the Mid-Con segment. Summit generates revenue mainly from natural gas, NGLs, and condensate sales, and the provision of gathering and related services.
- Ticker
- $SMC
- Sector
- Energy
- Primary listing
- NYSE
- Employees
- 296
- Headquarters
- Houston, United States
- Website
- www.summitmidstream.com
SMC Metrics
BasicAdvanced
$429M
-
-$1.05
0.74
-
Price and volume
Market cap
$429M
Beta
0.74
52-week high
$36.47
52-week low
$19.83
Average daily volume
59K
Financial strength
Current ratio
0.944
Quick ratio
0.82
Long term debt to equity
1.347
Total debt to equity
1.349
Interest coverage (TTM)
0.72%
Profitability
EBITDA (TTM)
203.153
Gross margin (TTM)
45.12%
Net profit margin (TTM)
-3.55%
Operating margin (TTM)
15.93%
Effective tax rate (TTM)
-0.07%
Revenue per employee (TTM)
$1,970,000
Management effectiveness
Return on assets (TTM)
2.37%
Return on equity (TTM)
-2.92%
Valuation
Price to revenue (TTM)
0.674
Price to book
0.8
Price to tangible book (TTM)
1.11
Price to free cash flow (TTM)
-30.104
Free cash flow yield (TTM)
-3.32%
Free cash flow per share (TTM)
-1.033
Growth
Revenue change (TTM)
18.90%
Earnings per share change (TTM)
-91.20%
3-year revenue growth (CAGR)
14.84%
10-year revenue growth (CAGR)
3.65%
3-year earnings per share growth (CAGR)
-38.52%
10-year earnings per share growth (CAGR)
-29.05%
Bulls say / Bears say
Double E Pipeline, a 70%-owned joint venture, reached a final investment decision on a mainline compression expansion to add ~900 MMcf/d of capacity—boosting total contracted capacity to ~2.2 Bcf/d—with in-service expected in Q4 2028, underscoring strong commercial support. (Reuters)
Fitch Ratings upgraded Summit Midstream’s long-term issuer default rating to ‘B’ from ‘B-’ and raised its second-lien secured notes to ‘BB-’, citing improved leverage, interest coverage and a stable EBITDA outlook—indicative of enhanced financial flexibility and lower funding costs. (Reuters)
Summit’s Q2 2026 adjusted EBITDA rose 12% sequentially to $60.7 million—driven by Rockies segment throughput growth and MVC shortfall payments—demonstrating operational momentum and improved profitability. (Reuters)
Fitch forecasts Summit’s leverage to remain elevated at roughly 4.8x–4.3x of EBITDA and notes that less than 5% of its contracts are backed by minimum volume commitments, highlighting constrained volume protection and elevated debt risk. (Reuters)
Summit narrowed its full-year 2026 adjusted EBITDA guidance to $235 million–$255 million while increasing total capital expenditures to $100 million–$120 million, suggesting slower growth expectations and potential pressure on free cash flow. (PR Newswire)
On March 31, 2026, Summit issued 1.35 million shares at $31.08 per share to an affiliate of Tailwater Capital, resulting in Tailwater beneficially owning ~39% of the equity and raising dilution and governance concerns for existing shareholders. (PR Newswire)
Data summarised monthly by Lightyear AI. Last updated on 7 Sept 2026.
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Funds containing SMC
Fund name | Fund size | $SMC weighting |
|---|---|---|
SPDR Russell 2000 US Small Cap€R2US | €4.8B | 0.01% |
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