Summit Midstream Corp · Natural Gas Transmission

SMC

Moderate riskNext report: Around Nov 9 (est.)

View price ↗

The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 11% in the latest quarter vs a year ago
Profitable
Sales up 31% last year

Money moves

Insiders sold $79K in the last 30 days, all through pre-planned sales
Institutions added 3.4% to their holdings in the quarter ending June 2026 (41 bought, 28 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$31.28+0.4% that day

Company value: $333M; Share price times all shares
Price vs sales: 0.57x; No profit over the last year, so this compares value with sales instead
Cash vs value: 6%; Cash as a share of company value
Debt vs value: 314%; Owes more than the whole company is worth

From SMC's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$155.0M+11% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $583.3M, up 21% from the 12 months before.

What the price assumes

Your guesses, our math

Move the sliders to your own view of SMC. Starting points are the company's recent numbers.

Sales growth+21% a yearRecently: +21% a yearProfit margin2%Last 12 months: 1.6%P/E at the end15xMany steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.5B

Profit in 5 years$30M

Price these guesses point to$42.63+36% vs $31.28 todayAbout +6.4% a year, before dividends

What today's price needs: with a 2% margin and a 15x P/E, sales would have to grow about 14% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/5Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.0.6%
MissDebt under half of equityNot relying on borrowed money.1.91x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.0.5%
MissProfitable every yearSteady profits, not one good year.1 of 5 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$44.6M

Revenue: $562.1M; +30.8% vs prior year
Total debt: $1.0B; 1.91x equity
Current ratio: 0.55x; short-term assets / bills due
Free cash flow: $44.6M; 7.9% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: share count not growing, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 10

Revenue: $155.0M; +10.6% YoY
EPS: $0.11; vs -$0.66
Gross margin: 68.3%; -6.1 pts
Free cash flow: $18.9M
Share count: +14.7%; vs a year ago

Insider rating

Last 90 days

48Mixed

Pre-planned sales of $79K (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 0.2
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+3.4%

Institutions added 3.4% to their holdings. 41 bought, 28 sold.

Shares held by institutions5.6M

Sep '24Jun '26

Safety check

From SEC filings

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

2.1x · $1.2B debt

Shares outstandingLatest reported

11M

Why moderate risk

Losing money
High debt: 2.07x equity
Bills due within a year exceed short-term assets

Earnings reports

Last 9

Next reportAround Nov 9 (est.)Estimated from the same quarter last year

Results filedAug 10
Results filedMay 11
Results filedMar 16
Results filedNov 10, 2025
Results filedAug 12, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$79K1 insider, 1 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
James David JohnstonExecutive VP, GC, CCO and Secy	Sell	3K	$30.51	$79K	73K	Oct 1Filing ↗
-3.5% of their holdings Pre-planned sale (10b5-1) Filed 1 day after