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SMC

Summit Midstream Corporation

Summit Midstream Corporation is classed by the SEC under Natural Gas Transmission (industry code 4922), based in Houston, TX. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $562 million and a loss of $6 million (its filed statements).

Regulated utility Natural Gas Transmission Houston, TX filings since 2024 7 of 9 filed, 2 estimated
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Sector peers: KGSAROCAMKNTK

4.4/10headline grade
vs its business-model standard
4.3/10past 3.3/10present 6.2/10future

Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a regulated utility: prior from its industry code (SEC 4922, Natural Gas Transmission); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.

The grade, in three tenses

Headline 4.4 out of ten, 7 of 9 metrics filed and 2 estimated: past 4.3 out of ten, present 3.3 out of ten, future 6.2 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

  • Surviving crises (past): 6.6 out of ten. No warning events in its filings since 2024. 66th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Track record (past): 3.3 out of ten. +10.7% a year over 3 filed years; profitable in 0 of 3. 33rd percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Shareholder treatment (past): 2.0 out of ten. Share count grew 8.3% a year. 0% of cash flow returned. Insiders: 3 sales, 1 purchases. 20th percentile among 13 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Financial health (present): 2.2 out of ten. ROE -1%: lost 1¢ per shareholder dollar. Leverage 77%: owes 77¢ per asset dollar. 22nd percentile among 12 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Industry position (present): 2.6 out of ten. bottom 26% of 16 in its family; net margin -1.1%. 26th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Leadership (present): 6.5 out of ten. CrossAssetData estimate 6.5/10, confidence 35 of 100 (one part). 65th percentile among 13 sector filers. A CrossAssetData estimate, not a filed reading: one part, confidence 35 of 100; a filing that carries the missing parts replaces this estimate with the filed reading.
  • Room to expand (future): 6.0 out of ten. top 40% of 16 in its family for room to expand. 60th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Growth drivers (future): 7.1 out of ten. top 29% of 16 in its family for growth drivers. 71st percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
  • Expectations vs reality (future): 5.2 out of ten. CrossAssetData estimate 5.2/10, confidence 20 of 100 (family median). 50th percentile among 15 sector filers. A CrossAssetData estimate, not a filed reading: family median, confidence 20 of 100; its next annual report on file with the inputs replaces this estimate with the filed reading.

The filing record

Newest annual report: Form 10-K filed 2026-03-16 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-10 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-10 (on EDGAR). Newest filing: Form 4, 2026-10-02. Filings on record since 2024. Read from EDGAR 2026-10-12.

Where the revenue comes from

Product and service lines in fiscal 2025: Natural Gas NGL and Condensate Sales 47%, Gathering Services and Related Fees 46%, Other Products and Services 7%. As tagged in its annual report (Form 10-K, filed 2026-03-16).

Who runs it

Deneke, J Heath (Chairman, President and CEO); Mault, William J. (Executive VP and CFO); Johnston, James David (Executive VP, GC, CCO and Secy); Sicinski, Matthew B. (Senior VP and CAO); Peters, Jerry L (director); Downie, Jason H (director); Herring, Edward (director); Cleary, James J (director); Jacobe, James Lee (director); Mcnally, Robert Joseph (director); and 2 more. 12 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-02.

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