greeksoup/ stock research
Stock research / United States / SND · Mining & Quarrying Of Nonmetallic Minerals (No Fuels) · Nasdaq

Smart Sand, Inc. (SND)

Compare with another name

Smart Sand, Inc. (SND) reported revenue of $115 million for Q2 FY2026, the quarter ended 30 June 2026, up 34.1% on the same quarter a year earlier. Net income was $10 million, down 52.5% on the year, and diluted earnings per share $0.25. The figures are the company's own, from the 10-Q it filed with the SEC on 11 August 2026.

Revenue$115 millionup 34.1%
Net income$10 milliondown 52.5%
Diluted EPS$0.25
QuarterQ2 FY2026ended 30 June 2026

Smart Sand (SND) in brief

Smart Sand (SND) reported revenue of $330 million for fiscal 2025, the year ended 31 December 2025, up 6.0% on the year before.
Read moreNet income was $1 million and diluted earnings per share $0.03. Revenue was $311 million in fiscal 2024, $296 million in fiscal 2023, $256 million in fiscal 2022 and $127 million in fiscal 2021. Net income in the same years was $3 million, $5 million, a loss of $1 million and a loss of $51 million. Over the twelve months to 30 June 2026, Smart Sand reported revenue of $387 million and net income of $10 million. Revenue grew 22.0% a year, compounded, over the five years to fiscal 2025. Smart Sand declared $0.15 a share in dividends over the last four quarters and had 39 million shares outstanding at the latest filed count. At 30 June 2026 it carried $16 million of debt and $10 million of cash. At the close of 30 October 2026 the market cap of Smart Sand was $189 million, 18.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE4.4%
ROCE3.1%
Operating margin2.0%
Net margin2.7%
FCF margin8.9%
Interest covern/a
Debt to equity0.07
Cash conversion4.48
Share count, last 12 months0.8%
Sales CAGR, 3 years8.9%
Profit CAGR, 3 yearsn/a
EPS, TTM$0.26

At the close of 30 October 2026

Price$4.84
Market cap$189 million
Stock P/E18.62
Price to book0.79
EV / EBITDA19.22
Dividend yield3.1%
Market cap / sales0.49
52-week high$5.82
52-week low$2.09
Price, 1 year126.2%
Price CAGR, 3 years32.7%
Price CAGR, 5 years16.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Smart Sand, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
SNDgreeksoup.ai
Daily prices to 30 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on SND

Dividends$0.15 a share in FY2025
Filings22 in twelve months: 13 current reports (8-K), about 7 other events; 4 results of operations; 3 officer or director change; 3 regulation FD disclosure; 1 material agreement
Planned insider sales10 Form 144 notices in twelve months, $3.6 million; latest 19 August 2026
Options tapeput/call 0.01 by open interest at the 30 October 2026 close; the straddle prices a 29.4% move to 20 November 2026
13F holders91 funds reported a position for the quarter to 30 June 2026; largest Gendell Jeffrey L
Insider trading15 sales and 3 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.9 million shares short, 10.72 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022 †Q3 FY2022 †Q4 FY2022 *Q1 FY2023 †Q2 FY2023 †Q3 FY2023 †Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue34.535.141.668.771.673.882.374.876.961.983.173.863.291.465.685.892.886.093.1115
Cost of revenue36.539.443.659.760.262.770.762.162.559.171.260.756.777.962.876.877.874.887.095.2
Gross profit-2.0-6.5-2.09.011.411.211.612.714.42.811.813.16.513.52.89.014.911.26.119.8
Gross margin-6%-19%-5%13%16%15%14%17%19%5%14%18%10%15%4%10%16%13%7%17%
SG&A3.93.94.03.84.04.110.89.08.95.610.38.99.79.29.29.19.113.110.79.4
Operating income-8.8-15.0-9.91.43.81.7-1.63.14.9-7.90.83.5-4.93.6-7.0-0.15.4-2.7-4.910.1
Operating margin-25%-43%-24%2%5%2%-2%4%6%-13%1%5%-8%4%-11%-0%6%-3%-5%9%
Pre-tax income-7.4-15.1-10.21.03.51.7-2.03.04.8-8.10.41.9-5.23.2-7.3-0.35.1-3.1-5.010.2
Tax raten/an/an/a109%24%-54%n/a-109%-39%n/a155%123%n/a-17%n/an/a41%n/an/a1%
Net income-7.3-12.2-5.9-0.12.72.6-3.66.36.7-4.8-0.2-0.4-0.13.7-24.221.43.01.2-3.910.2
Net margin-21%-35%-14%-0%4%4%-4%8%9%-8%-0%-1%-0%4%-37%25%3%1%-4%9%
Diluted EPS-$0.17-$0.30-$0.14$0.00$0.06$0.06-$0.09$0.17$0.18-$0.12-$0.01-$0.01$0.00$0.09-$0.62$0.54$0.08$0.03-$0.10$0.25
Operating cash flow1.1-5.1-8.7-2.310.85.65.116.112.5-2.7-3.914.95.81.08.7-5.118.222.43.03.4
Capital expenditure1.94.23.81.44.43.24.05.26.96.91.61.42.11.93.52.73.42.02.24.8
Free cash flow-0.9-9.3-12.4-3.76.42.41.110.85.6-9.6-5.513.53.7-0.85.2-7.814.820.40.8-1.4
Buybacks0.00.10.10.10.20.14.40.10.10.10.20.10.20.00.30.00.20.01.20.1
Dividends paidn/an/a0.00.00.00.00.00.00.00.00.00.00.03.90.00.13.92.00.04.1
Shares outstanding42m42m42m42m43m43m38m38m38m38m39m39m39m39m39m39m39m39m39m39m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Revenue68.247.759.2137212233122127256296311330387
Cost of revenue29.921.026.6100143152104140226254267292335
Gross profit38.226.732.736.969.481.118.1-15.929.641.644.837.952.1
Gross margin56.1%56.0%55.1%26.9%32.6%34.8%14.8%-12.6%11.6%14.0%14.4%11.5%13.5%
Selling, general and administrative7.24.74.59.512.811.315.514.230.838.738.240.542.3
Operating income25.816.620.418.727.743.5-13.0-63.5-3.1-1.53.0-4.57.8
Operating margin37.8%34.8%34.4%13.6%13.0%18.7%-10.6%-50.1%-1.2%-0.5%1.0%-1.4%2.0%
Pre-tax income17.19.119.818.725.639.425.0-59.7-3.9-2.30.3-5.67.2
Income tax9.54.19.4-2.85.57.8-13.0-9.0-3.2-6.9-2.7-6.9-3.3
Effective tax rate55.7%45.3%47.5%-15.0%21.5%19.8%-52.0%n/an/an/a-1087.3%n/a-45.8%
Net income7.65.010.421.520.131.638.0-50.7-0.74.63.01.310.5
Net margin11.1%10.5%17.5%15.7%9.5%13.6%31.0%-40.0%-0.3%1.6%1.0%0.4%2.7%
Diluted 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$0.26
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Sand Segment28730432698.7%
SmartSystems Segment8.57.84.41.3%
Sand SegmentSmartSystems Segment
296FY2023311FY2024330FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Sand revenue28730432698.7%
SmartSystems revenue8.57.84.41.3%
Sand revenueSmartSystems revenue
296FY2023311FY2024330FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
United States29530929890.3%
Canada0.91.931.99.7%
United StatesCanada
296FY2023311FY2024330FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow22.130.726.715.650.944.625.532.45.431.017.944.147.0
Capital expenditure30.929.42.551.296.125.58.611.212.723.07.011.612.4
Free cash flow-8.81.324.2-35.5-45.219.116.921.2-7.38.010.932.534.6
Free cash flow margin-12.8%2.8%40.8%-25.9%-21.3%8.2%13.8%16.8%-2.9%2.7%3.5%9.9%8.9%
Cash from investingn/an/a-2.5-51.1-126-25.4-8.6-11.1-18.2-22.9-6.9-10.9-12.4
Cash from financingn/an/a19.423.241.3-18.0-7.9-7.4-7.3-7.5-15.5-12.3-28.7
Depreciation and amortisation3.65.36.57.91.82.41.92.02.22.52.62.42.3
Share-based compensation0.40.81.42.02.92.93.83.23.23.53.23.73.5
Buybacks0.00.10.40.12.20.11.20.40.50.00.40.61.6
Dividends paidn/an/an/an/an/an/an/an/a0.00.03.95.910.0
Dividend per sharen/an/an/an/an/an/an/an/an/an/a$0.10$0.15n/a
Diluted shares, weighted26m26m25m40m40m40m40m42m42m39m39m40m41m
Shares outstanding at period endn/a22m39m40m40m40m42m42m43m38m39m39m39m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017 †FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity-2.03.7142190211246289241243242244240238
Debtn/a0.60.60.948.734.429.322.517.820.214.715.016.4
Operating lease liabilitiesn/an/an/an/a0.015.527.023.717.614.114.514.418.8
Other liabilitiesn/a12830.455.960.868.082.586.781.169.868.670.973.8
Total liabilities and equityn/a133173247320363428374360346342340347
Owned
Fixed assetsn/a109104172248230275262259255237223221
Goodwilln/an/an/a0.00.0n/an/an/an/an/an/an/an/a
Intangible assetsn/an/an/a0.018.19.08.37.56.75.95.14.33.9
Cash and equivalents0.83.946.634.71.52.611.725.65.56.11.622.610.2
Receivablesn/a2.05.323.419.058.969.717.535.723.241.030.545.0
Inventoryn/a5.010.39.518.621.419.115.020.226.825.031.131.6
Other assetsn/a12.77.17.414.840.944.246.033.029.232.228.335.6
Total assetsn/a133173247320363428374360346342340347
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded21.3%22.0%8.9%26.5%
Profit growth, compounded-12.3%-48.7%n/a1206.1%
Return on equity, average3.7%-3.5%1.2%0.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Smart Sand's revenue in fiscal 2025?

Smart Sand (SND) reported revenue of $330 million for fiscal 2025, the year ended 31 December 2025, up 6.0% on the year before.

How much did Smart Sand earn in fiscal 2025?

Net income was $1 million for fiscal 2025, and diluted earnings per share $0.03.

What is Smart Sand's P/E ratio?

At the close of 30 October 2026, Smart Sand traded at 18.6 times its earnings over the twelve months to 30 June 2026.

What is Smart Sand's market cap?

The market cap of Smart Sand was $189 million at the close of 30 October 2026.

Does Smart Sand pay a dividend?

Yes. Smart Sand declared $0.15 a share in dividends over the four quarters to 30 June 2026.

Peers: Non-Metallic and Industrial Metal Mining

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Vulcan Materials Co. VMC$36.1 billion33.2913.1%20.3%1.6%0.560.7%
Martin Marietta Materials Inc. MLM$32.5 billion13.2921.3%n/a14.8%0.520.6%
Hecla Mining Co. HL$9.1 billion27.5912.5%46.0%51.2%0.000.1%
Knife River Corp. KNF$3.3 billion23.478.7%8.3%12.1%1.01n/a
United States Lime & Minerals Inc. USLM$3.2 billion24.0618.2%41.2%4.5%0.000.2%
Energy Fuels Inc. UUUU$1.9 billionn/a-10.3%-91.0%62.5%0.85n/a
Centrus Energy Corp. LEU$1.4 billion46.945.7%1.6%8.5%1.39n/a
Compass Minerals International Inc. CMP$978 million54.197.0%8.9%5.5%2.72n/a
Intrepid Potash, Inc. IPI$417 millionn/an/an/an/a0.00n/a
American Battery Technology Co. ABAT$200 millionn/a-58.1%-343.6%406.8%0.06n/a
Smart Sand, Inc. SND$189 million18.624.4%2.0%26.5%0.073.1%
enCore Energy Corp. EU$137 millionn/a-28.1%-91.2%24.1%0.50n/a
All 23 in Non-Metallic and Industrial Metal Mining
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
BHP Group Limited BHP *$201.2 billion20.4919.3%40.6%14.6%0.463.4%
Southern Copper Corp. SCCO$149.9 billion23.2347.0%58.6%38.7%0.591.7%
Rio Tinto plc RIO *$133.2 billion13.4516.0%25.9%7.4%0.354.6%
Freeport-McMoRan Inc. FCX$89.7 billion30.7614.6%26.8%0.2%0.471.0%
Vale S.A. VALE *$48.7 billionn/a7.0%15.4%0.9%0.547.3%
Vulcan Materials Co. VMC$36.1 billion33.2913.1%20.3%1.6%0.560.7%
Martin Marietta Materials Inc. MLM$32.5 billion13.2921.3%n/a14.8%0.520.6%
Hecla Mining Co. HL$9.1 billion27.5912.5%46.0%51.2%0.000.1%
Cleveland-Cliffs Inc. CLF$8.1 billionn/a-8.3%-1.4%7.8%1.34n/a
MP Materials Corp. MP$7.0 billionn/a-3.1%-41.5%26.1%0.48n/a
Uranium Energy Corp. UEC$3.8 billionn/a-10.0%-357.4%-44.3%0.00n/a
Knife River Corp. KNF$3.3 billion23.478.7%8.3%12.1%1.01n/a
United States Lime & Minerals Inc. USLM$3.2 billion24.0618.2%41.2%4.5%0.000.2%
USA Rare Earth, Inc. USAR$2.4 billionn/an/an/an/a0.00n/a
Energy Fuels Inc. UUUU$1.9 billionn/a-10.3%-91.0%62.5%0.85n/a
Centrus Energy Corp. LEU$1.4 billion46.945.7%1.6%8.5%1.39n/a
Ivanhoe Electric Inc. IE$1.2 billionn/a-6.5%474.5%-20.6%0.07n/a
Compass Minerals International Inc. CMP$978 million54.197.0%8.9%5.5%2.72n/a
Niocorp Developments Ltd. NB$486 millionn/an/an/an/a0.00n/a
Intrepid Potash, Inc. IPI$417 millionn/an/an/an/a0.00n/a
American Battery Technology Co. ABAT$200 millionn/a-58.1%-343.6%406.8%0.06n/a
Smart Sand, Inc. SND$189 million18.624.4%2.0%26.5%0.073.1%
enCore Energy Corp. EU$137 millionn/a-28.1%-91.2%24.1%0.50n/a
10 companies share its SEC industry code (Mining & Quarrying Of Nonmetallic Minerals (No Fuels)); the rest are the names nearest in size in its wider industry, Non-Metallic and Industrial Metal Mining, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202611 August 2026EDGAR
10-Q31 March 202612 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 202512 November 2025EDGAR
10-Q30 June 202512 August 2025EDGAR
10-Q31 March 202513 May 2025EDGAR
10-K31 December 20244 March 2025EDGAR
10-Q30 September 202412 November 2024EDGAR
10-Q30 June 202413 August 2024EDGAR
10-Q31 March 202413 May 2024EDGAR