A Business at a Glance
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Smart Sand, Inc.
SND
$209M
Mkt Cap
$4.66
-3.12%
Smart Sand, Inc. (SND) has a current P/E ratio of 155.3, compared to its historical median P/E of 14.3. The stock is currently considered Expensive based on its historical valuation range.
Smart Sand, Inc. (SND) has a 5-year average return on invested capital (ROIC) of -2.9%. This is below average and may indicate limited pricing power.
Smart Sand, Inc. (SND) has a market capitalization of $209M. It is classified as a small-cap stock.
Yes, Smart Sand, Inc. (SND) pays a dividend with a trailing twelve-month yield of 2.85%. The company also returns capital through share buybacks, with a buyback yield of 0.30%.
Based on historical P/E analysis, Smart Sand, Inc. (SND) appears expensive. The current P/E of 155.3 is 986% above its historical median of 14.3. The estimated fair value CAGR (P/E method) is -31.6%.
Smart Sand, Inc. (SND) operates in the Mining & Quarrying Of Nonmetallic Minerals (No Fuels) industry, within the Materials sector.
Smart Sand, Inc. (SND) reported annual revenue of $330 million in its most recent fiscal year, based on SEC EDGAR filings.
The Company We are a fully integrated frac and industrial sand supply and services company. We offer complete mine to wellsite proppant supply and logistics solutions to our frac sand customers. We produce low-cost, high quality Northern White sand, which is a premium sand used as a proppant to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells and for a variety of industrial applications. We also offer proppant logistics solutions to our customers through our in-basin transloading terminals and our SmartSystemsTM wellsite proppant storage capabilities. In recent years, we have expanded our product line to offer Industrial Products Solutions (“IPS”) in order to diversify our customer base and markets we serve by offering sand for industrial uses. We market our products and services to oil and natural gas exploration and production companies, oilfield service companies and diversified industrial and commercial customers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 330M | 330M | 311M | 296M | 256M | 127M |
| Net Income | 1.3M | 1.3M | 3.0M | 4.6M | -703K | -51M |
| EPS | $0.03 | $0.03 | $0.08 | $0.12 | $-0.02 | $-1.21 |
| Free Cash Flow | 33M | 33M | 11M | 8.0M | -7.3M | 21M |
| ROIC | -1.4% | 0.5% | 1.1% | 1.9% | -0.3% | -17.9% |
| Gross Margin | 11.5% | 11.5% | 14.4% | 14.0% | 11.6% | -12.6% |
| Debt/Equity | 0.15 | 0.15 | 0.15 | 0.21 | 0.18 | 0.23 |
| Dividends/Share | $0.13 | $0.15 | $0.10 | $0.00 | $0.00 | - |
| Operating Income | -4.5M | -4.5M | 3.0M | -1.5M | -3.1M | -63M |
| Operating Margin | -1.4% | -1.4% | 1.0% | -0.5% | -1.2% | -50.1% |
| ROE | 0.6% | 0.6% | 1.2% | 1.9% | -0.3% | -19.1% |
| Shares Outstanding | 45M | 45M | 37M | 39M | 35M | 42M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 68M | 48M | 59M | 137M | 212M | 233M | 122M | 127M | 256M | 296M | 311M | 330M | 330M |
| Gross Margin | 56.1% | 56.0% | 55.1% | 26.9% | 32.6% | 34.8% | 14.8% | -12.6% | 11.6% | 14.0% | 14.4% | 11.5% | 11.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 7.2M | 4.7M | 4.5M | 9.5M | 13M | 11M | 16M | 14M | 31M | 39M | 38M | 41M | 41M |
| EBIT | 26M | 17M | 20M | 19M | 28M | 43M | -13M | -63M | -3.1M | -1.5M | 3.0M | -4.5M | -4.5M |
| Op. Margin | 37.8% | 34.8% | 34.4% | 13.6% | 13.0% | 18.7% | -10.6% | -50.1% | -1.2% | -0.5% | 1.0% | -1.4% | -1.4% |
| Net Income | 7.6M | 5.0M | 10M | 22M | 20M | 32M | 38M | -51M | -703K | 4.6M | 3.0M | 1.3M | 1.3M |
| Net Margin | 11.1% | 10.5% | 17.5% | 15.7% | 9.5% | 13.6% | 31.0% | -40.0% | -0.3% | 1.6% | 1.0% | 0.4% | 0.4% |
| Non-Recurring | -57K | -54K | 54K | -253K | 17M | 42K | 4.9M | 1.6M | 294K | -1.8M | -1.1M | 566K | 566K |
| Returns on Capital | |||||||||||||
| ROIC | N/M | 15.8% | 14.8% | 14.8% | 10.5% | 12.4% | 13.0% | -17.9% | -0.3% | 1.9% | 1.1% | 0.5% | -1.4% |
| ROE | -126.9% | 133.8% | 14.2% | 12.9% | 10.0% | 13.9% | 14.2% | -19.1% | -0.3% | 1.9% | 1.2% | 0.6% | 0.6% |
| ROA | 216.4% | 7.3% | 6.8% | 10.2% | 7.1% | 9.3% | 9.6% | -12.6% | -0.2% | 1.3% | 0.9% | 0.4% | 0.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 22M | 31M | 27M | 16M | 51M | 45M | 26M | 32M | 5.4M | 31M | 18M | 44M | 44M |
| Free Cash Flow | -8.8M | 1.3M | 24M | -36M | -45M | 19M | 17M | 21M | -7.3M | 8.0M | 11M | 33M | 33M |
| Owner Earnings | 18M | 25M | 19M | 5.7M | 46M | 39M | 20M | 27M | -8K | 25M | 12M | 38M | 38M |
| CapEx | 31M | 29M | 2.5M | 51M | 96M | 26M | 8.6M | 11M | 13M | 23M | 7.0M | 12M | 12M |
| Maint. CapEx | 3.6M | 5.3M | 6.5M | 7.9M | 1.8M | 2.4M | 1.9M | 2.0M | 2.2M | 2.5M | 2.6M | 2.4M | 2.4M |
| Growth CapEx | 27M | 24M | 0 | 43M | 94M | 23M | 6.7M | 9.2M | 10M | 20M | 4.4M | 9.2M | 9.2M |
| D&A | 3.6M | 5.3M | 6.5M | 7.9M | 1.8M | 2.4M | 1.9M | 2.0M | 2.2M | 2.5M | 2.6M | 2.4M | 2.4M |
| CapEx/OCF | N/A | N/A | 9.4% | 327.4% | 188.7% | 57.2% | 33.7% | 34.6% | 234.9% | 74.3% | 39.2% | 26.3% | 26.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 5K | 5K | 4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.9M | 5.9M | 5.9M |
| Dividend Yield | N/A | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.5% | 6.1% | 2.8% |
| Share Buybacks | 2K | 121K | 420K | 127K | 2.2M | 140K | 1.2M | 401K | 540K | 0 | 422K | 628K | 628K |
| Buyback Yield | 0.0% | N/A | 0.1% | 0.0% | 2.9% | 0.2% | 1.8% | 0.6% | 1.0% | 7.1% | 0.6% | 0.4% | 0.3% |
| Stock-Based Comp | 418K | 792K | 1.4M | 2.0M | 2.9M | 2.9M | 3.8M | 3.2M | 3.2M | 3.5M | 3.2M | 3.7M | 3.7M |
| Debt Repayment | 9.2M | 456K | 1.2M | 193K | 233K | 2.3M | 20K | 0 | 0 | 0 | 1.2M | 10K | 10K |
| Balance Sheet | |||||||||||||
| Net Debt | 1.1M | 123M | -46M | -34M | 47M | 60M | 52M | 30M | 39M | 46M | 36M | 14M | 14M |
| Cash & Equiv. | 802K | 3.9M | 47M | 35M | 1.5M | 2.6M | 12M | 26M | 5.5M | 6.1M | 1.6M | 23M | 23M |
| Long-Term Debt | 1.9M | 63M | 570K | 0 | 48M | 28M | 22M | 15M | 9.8M | 3.4M | 9.1M | 8.7M | 8.7M |
| Debt/Equity | -0.95 | 34.03 | 0.01 | 0.00 | 0.23 | 0.26 | 0.22 | 0.23 | 0.18 | 0.21 | 0.15 | 0.15 | 0.15 |
| Interest Coverage | 4.6 | 3.3 | 7.1 | N/A | N/A | 1011.2 | -361.6 | -2267.3 | -156.4 | -20.3 | 48.5 | -108.8 | -108.8 |
| Equity | -2.0M | 3.7M | 142M | 190M | 211M | 246M | 289M | 241M | 243M | 242M | 244M | 240M | 240M |
| Total Assets | 3.5M | 133M | 173M | 247M | 320M | 363M | 428M | 374M | 360M | 346M | 342M | 340M | 340M |
| Total Liabilities | 272K | 129M | 31M | 57M | 111M | 118M | 139M | 133M | 117M | 104M | 98M | 100M | 100M |
| Intangibles | N/A | N/A | N/A | 0 | 18M | 9.0M | 8.3M | 7.5M | 6.7M | 5.9M | 5.1M | 4.3M | 4.3M |
| Retained Earnings | N/A | -316K | 10M | 32M | 50M | 83M | 121M | 71M | 70M | 75M | 73M | 68M | 68M |
| Working Capital | N/A | -32M | 51M | 39M | 25M | 52M | 75M | 25M | 16M | 7.4M | 32M | 38M | 38M |
| Current Assets | N/A | 16M | 65M | 73M | 50M | 92M | 112M | 74M | 68M | 62M | 76M | 88M | 88M |
| Current Liabilities | N/A | 49M | 14M | 35M | 25M | 40M | 37M | 49M | 52M | 54M | 43M | 50M | 50M |
| Per Share Data | |||||||||||||
| EPS | 0.29 | 0.19 | 0.42 | 0.53 | 0.50 | 0.78 | 0.94 | -1.21 | -0.02 | 0.12 | 0.08 | 0.03 | 0.03 |
| Owner EPS | 0.69 | 0.94 | 0.76 | 0.14 | 1.15 | 0.97 | 0.49 | 0.65 | -0.00 | 0.64 | 0.32 | 0.85 | 0.85 |
| Book Value | -0.08 | 0.14 | 5.76 | 4.68 | 5.24 | 6.06 | 7.15 | 5.76 | 6.93 | 6.25 | 6.52 | 5.35 | 5.35 |
| Cash Flow/Share | 0.85 | 1.17 | 1.08 | 0.38 | 1.27 | 1.10 | 0.63 | 0.77 | 0.15 | 0.80 | 0.48 | 0.98 | 0.08 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.10 | 0.15 | 0.13 |
| Shares Out. | 26.1M | 26.3M | 24.7M | 40.6M | 40.2M | 40.5M | 40.4M | 41.9M | 35.1M | 38.7M | 37.4M | 44.8M | 44.8M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 34.6 | 14.5 | 4.0 | 2.8 | 1.7 | N/A | N/A | 14.3 | 25.1 | 128.7 | 155.3 |
| P/FCF | N/A | N/A | 14.8 | N/A | N/A | 4.7 | 3.7 | 3.1 | N/A | 8.4 | 6.9 | 5.3 | 6.4 |
| EV/EBIT | N/A | N/A | 13.1 | 13.1 | 4.7 | 2.9 | N/A | N/A | N/A | N/A | 29.3 | N/A | N/A |
| Price/Book | N/A | N/A | 2.5 | 1.6 | 0.4 | 0.4 | 0.2 | 0.3 | 0.2 | 0.3 | 0.3 | 0.7 | 0.9 |
| Price/Sales | N/A | N/A | 4.9 | 2.8 | 1.0 | 0.4 | 0.4 | 0.7 | 0.3 | 0.2 | 0.2 | 0.3 | 0.6 |
| FCF Yield | N/A | N/A | 6.7% | -11.4% | -60.4% | 21.4% | 26.8% | 32.0% | -13.6% | 12.0% | 14.5% | 18.8% | 15.6% |
| Market Cap | 0 | N/A | 359M | 312M | 75M | 89M | 63M | 66M | 54M | 67M | 75M | 173M | 209M |
| Avg. Price | 0.00 | N/A | 11.73 | 9.57 | 5.15 | 2.57 | 1.24 | 2.19 | 2.20 | 1.68 | 1.88 | 2.18 | 4.66 |
| Year-End Price | 0.00 | N/A | 14.52 | 7.68 | 1.84 | 2.20 | 1.56 | 1.58 | 1.53 | 1.72 | 2.00 | 3.86 | 4.66 |
Smart Sand, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Smart Sand, Inc. trades at 155.3x trailing earnings, compared to its 15-year median P/E of 14.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.2x vs a median of 5.3x. The company's 5-year average gross margin is 7.8%. Total shareholder yield (dividends + buybacks) is 3.1%. At current prices, the estimated annualized return to fair value is -11.6%.
Smart Sand, Inc. (SND) has a net profit margin of 0.4%. This is a modest margin.
Smart Sand, Inc. (SND) generated $33 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Smart Sand, Inc. (SND) has a debt-to-equity ratio of 0.15. This indicates a conservatively financed balance sheet.
Smart Sand, Inc. (SND) reported earnings per share (EPS) of $0.03 in its most recent fiscal year.
Smart Sand, Inc. (SND) has a return on equity (ROE) of 0.6%. This indicates moderate shareholder returns.
Smart Sand, Inc. (SND) has a 5-year average gross margin of 7.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 12 years of financial data for Smart Sand, Inc. (SND), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Smart Sand, Inc. (SND) has a book value per share of $5.35, based on its most recent annual SEC filing.