# SM Energy Co (SM) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from SM Energy Co's 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/SM/mda/fy2025/): filed 2026-02-26; accession 0000893538-26-000032 (https://www.sec.gov/Archives/edgar/data/893538/000089353826000032/sm-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/SM/mda/fy2024/): filed 2025-02-20; accession 0000893538-25-000008 (https://www.sec.gov/Archives/edgar/data/893538/000089353825000008/sm-20241231.htm)
- [FY 2023 MD&A](/company/SM/mda/fy2023/): filed 2024-02-22; accession 0000893538-24-000009 (https://www.sec.gov/Archives/edgar/data/893538/000089353824000009/sm-20231231.htm)
- [FY 2022 MD&A](/company/SM/mda/fy2022/): filed 2023-02-23; accession 0000893538-23-000014 (https://www.sec.gov/Archives/edgar/data/893538/000089353823000014/sm-20221231.htm)
- [FY 2021 MD&A](/company/SM/mda/fy2021/): filed 2022-02-25; accession 0000893538-22-000020 (https://www.sec.gov/Archives/edgar/data/893538/000089353822000020/sm-20211231.htm)

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