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Summit Midstream Corporation (SMC)

NYSE: SMC · Natural Gas Transmission · Houston, TX · filing with the SEC since 2024
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Grade4.4
◀ Past 4.2● Present 3.3▶ Future 6.2
2 est.
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The grade of Summit Midstream Corporation

Nine metrics read from its own filings, by tense
Headline grade
4.4/10
◀ Past4.225% of the headline
● Present3.345% of the headline
▶ Future6.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.2/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
6.6/10

Has it survived what it has been through?

No warning events in its filings since 2024.

weight 45% of this tense · 66th percentile among 16 sector filers · read for itself

From the record

Summit Midstream Corporation's filings since 2024 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
3.3/10

What has it actually done, year after year?

+10.7% a year over 3 filed years; profitable in 0 of 3.

weight 22% of this tense · 33rd percentile among 16 sector filers · read for its customers

From the record

Summit Midstream Corporation's 3 filed years say what it did: revenue went from $459 million in fiscal 2023 to $562 million in fiscal 2025, up 10.7% a year; it rose in 1 of 2 years; the deepest fall was 6% from fiscal 2023 to fiscal 2024; net income was positive in 0 of 3 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span10.7%top 47% of its family
  • the share of years revenue rosebottom 9% of its family
  • the share of filed years with a profitbottom 3% of its family
  • the deepest fall from a revenue peak6.4%top 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
1.6/10

How has it treated the people who own it?

Share count grew 8.3% a year. 0% of cash flow returned. Insiders: 3 sales, 1 purchases.

weight 33% of this tense · 16th percentile among 13 sector filers · read for its shareholders

From the record

Over the 2 fiscal years to 2025-12-31, Summit Midstream Corporation's diluted share count grew about 8.3% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 3 sales (2 under scheduled 10b5-1 plans) and 1 purchase of their own stock on the open market in the year to 2026-10-02, buying about $38 million (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 19% of its family
  • cash returned against operating cash flowbottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.3/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
2.2/10

Is it financially healthy right now?

ROE -1%: lost 1¢ per shareholder dollar. Leverage 77%: owes 77¢ per asset dollar.

weight 45% of this tense · 22nd percentile among 12 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Summit Midstream Corporation lost about 1 cents for every dollar of shareholders' money, and gross profitability: its products earned about 17 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 77 cents per dollar of assets, and net share issuance: its share count grew 14.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 21% of its family
  • return on equitybottom 5% of its family
  • gross profit against assetstop 50% of its family
  • the share count against the year beforebottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.6/10

How strong is its position in its industry?

bottom 26% of 16 in its family; net margin -1.1%.

weight 33% of this tense · 26th percentile among 16 sector filers · read for its customers

From the record

Summit Midstream Corporation's standing among 16 graded names in its industry family: revenue of $562 million in fiscal 2025 ranks in the bottom 4% by size; a net margin of -1.1% ranks in the bottom 9%; revenue growth of 10.7% a year over the last 2 filed years ranks in the top 34% (its annual reports).

What it rests on

  • revenue against the family$562Mbottom 4% of its family
  • net margin-1.1%bottom 9% of its family
  • three-year revenue growth10.7%top 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
6.5/10

What are the people in charge doing?

SI estimate 6.5/10, confidence 35 of 100 (one part).

weight 22% of this tense · 65th percentile among 13 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 35% of 13 in its family; the record of its people begins on 2024-08-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.3 years and cannot see past it; a floor under five years is not read as years in charge.
What the record cannot read
The record of its people begins on 2024-08-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.3 years and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
one part: officer and director changes on Form 8-K, against the people in charge, the one part on file, ranked among 13 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Summit Midstream Corporation's leadership is put at 6.5 of 10 with a confidence of 35 of 100, because read from one part only, officer and director changes on Form 8-K over three years, against the people in charge, which ranks in the top 35% of 13 in its family; the record of its people begins on 2024-08-01 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 2.3 years and cannot see past it; a floor under five years is not read as years in charge. A filing that carries the missing parts replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.2/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

as filed
6.0/10

How much room does it have to grow?

top 40% of 16 in its family for room to expand.

weight 22% of this tense · 60th percentile among 16 sector filers · read for itself

From the record

Summit Midstream Corporation's room to grow, from the newest filed statements (fiscal 2025): cash of $20 million against debt of $1.0 billion leaves -43% of its assets as net cash, top 34% of its family; cash from operations less capital spending is 7.9% of revenue (bottom 37%); a gross margin of 73.5% (top 21%) (its annual report).

What it rests on

  • cash less debt against assets-43.0%top 34% of its family
  • cash from operations less capital spending against revenue7.9%bottom 37% of its family
  • gross margin73.5%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
7.1/10

What could actually drive growth from here?

top 29% of 16 in its family for growth drivers.

weight 45% of this tense · 71st percentile among 16 sector filers · read for its customers

From the record

Summit Midstream Corporation's growth drivers, from the filed years to fiscal 2025: revenue grew 10.7% a year over the last three filed years against 10.7% over all 3, speeding up (top 22% of its family); the newest year grew 30.9% (top 3%); capital spending grew 13.7% a year (bottom 37%) (its annual reports). Summit Midstream Corporation reported 3 product lines in fiscal 2025: Natural Gas NGL and Condensate Sales at $265 million (47%), Gathering Services and Related Fees at $256 million (46%), Other Products and Services at $41 million (7%); 3 of 3 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span+0.0 points a yeartop 22% of its family
  • the newest year's revenue growth30.9%top 3% of its family
  • three-year growth of capital spending13.7%bottom 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

SI estimate
5.2/10

Did its newest year beat what its own record pointed to?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 15 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one.
What the record cannot read
The record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change.
How it was reasoned
family median, 15 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Summit Midstream Corporation's expectations vs reality is put at 5.2 of 10 with a confidence of 20 of 100, because the record does not carry four filed years of revenue and two of the three parts: revenue against the prior pace, earnings against the prior average, the margin change, so the desk assumes the typical reading of its industry family, the median of 15 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SMC · research, not advice