Summit Midstream Corporation SMC

Competitive advantage analysis · energy

Corporate Default
Overall moat score
29/100
Developing

Ranked against 67 peers in Oil & Gas Midstream

About Summit Midstream Corporation

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company operates through Rockies, Permian, Piceance, Mid-Con, and Northeast segments. It owns, develops, and operates natural gas, crude oil, produced water gathering systems, and transmission pipelines. The company serves natural gas and crude oil producers. Summit Midstream Corporation … Full SMC analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.76), demonstrating pricing resilience across cycles.
  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.75), suggesting sticky customer base.

Key risks

  • ROIC Below WACC or Peers ROIC at 20.0th percentile suggests inefficient capital deployment.
  • Elevated Debt Risk Debt serviceability is weak (score 0.16), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
46
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where SMC ranks in Oil & Gas Midstream

Summit Midstream Corporation ranks #51 of 56 scored companies in Oil & Gas Midstream by moat score — the top 91%. The widest moat in the group is Hess Midstream LP (HESM) at 84/100.

# Company Moat score Rating
47 CMB.TECH NV CMBT 33/100 Developing
48 Pyxis Tankers Inc. PXS 33/100 Developing
49 NGL ENERGY PARTNERS LP NGL 32/100 Developing
50 CBL International Limited BANL 30/100 Developing
51 Summit Midstream Corporation SMC 29/100 Developing
52 Nordic American Tankers Limited NAT 28/100 Developing
53 Viper Energy, Inc. VNOM 28/100 Developing
54 BP Prudhoe Bay Royalty Trust BPT 0/100 Weak
55 Brooge Energy Limited BROG 0/100 Weak

See every Commodities & Mining company ranked by moat score →

How SMC scores on the Corporate Default defenses

Pricing Power

Score 46 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 19 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 53 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 10 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 18 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 26 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding SMC's moat

What is Summit Midstream Corporation's moat score?

Summit Midstream Corporation (SMC) scores 29 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #51 of 56 scored companies in Oil & Gas Midstream, the top 91%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Customer Stickiness (53/100) and its weakest is Capital Efficiency (10/100).

How does Summit Midstream Corporation compare with other Oil & Gas Midstream companies?

Summit Midstream Corporation ranks #51 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are CBL International Limited (BANL) at 30 just above it and Nordic American Tankers Limited (NAT) at 28 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.

Why is Summit Midstream Corporation scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Summit Midstream Corporation?

The Corporate Default template measures 6 defenses, and SMC scores: Pricing Power (46), Cost Advantage (19), Customer Stickiness (53), Capital Efficiency (10), Resilience (18), Scale & Market Position (26). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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