SNDNasdaqMining & Quarrying of Nonmetallic Minerals (No Fuels)Fiscal year ends December 31
Smart Sand, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 11, 2026
$5.12+0.05 (+0.99%)
Close on Oct 19, 2026
- Market cap
- $211.82M
- P/E (TTM)
- 19.7
- Dividend yield
- 2.93%
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
11.5%−3.3 pts over 5 years
Operating margin
-1.4%+9.3 pts over 5 years
Net margin
0.4%−30.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.0% | +8.9% | +22.0% | +21.3% | |
| Gross profit | -15.5% | +8.6% | +15.9% | +3.6% | |
| Net income | -55.0% | – | -48.7% | -12.3% | |
| EPS, diluted | -62.5% | – | -49.8% | -16.9% | |
| Free cash flow | +199.6% | – | +14.0% | +37.7% | |
| Dividend per share | +50.0% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.2% | 14.2% | 0.6% | |
| Return on assets | 6.8% | 9.6% | 0.4% | |
| Current ratio | 4.74 | 3.01 | 1.76 | |
| Debt to equity | 0.00 | 0.10 | 0.05 | |
| Net debt to EBITDA | -1.76× | 1.93× | -0.38× | |
| Inventory turnover | 3.5× | 5.1× | 10.4× | |
| Capex to revenue | 4.3% | 7.0% | 3.5% | |
| Diluted shares | 25M | 40M | 40M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Smart Sand generated $130.83M from operations and spent $77.43M on capital expenditure, dividends and share buybacks. 85% of that went back into the business.
Generated
$130.83M
Used
$77.43M
Capital expenditure$65.59M85%Dividends$9.85M13%Share buybacks$1.99M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.4%
×Asset turnover0.97×
×Equity multiplier1.41×
=Return on equity, FY20250.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.4% | 0.97× | 1.41× | 0.6% |
| FY2024 | 1.0% | 0.91× | 1.42× | 1.2% |
| FY2023 | 1.6% | 0.84× | 1.45× | 1.9% |
| FY2022 | -0.3% | 0.70× | 1.51× | -0.3% |
| FY2021 | -40.0% | 0.32× | 1.51× | -19.1% |
| FY2020 | 31.0% | 0.31× | 1.48× | 14.2% |
| FY2019 | 13.6% | 0.68× | 1.50× | 13.9% |
| FY2018 | 9.5% | 0.75× | 1.41× | 10.0% |
| FY2017 | 15.7% | 0.65× | 1.26× | 12.9% |
| FY2016 | 17.5% | 0.39× | 2.09× | 14.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.35M
- Cash generatingOperating cash flow above zero$44.12M
- Return on assets improvedROA up on the prior year0.9% → 0.4%
- Earnings backed by cashOperating cash flow above net income$44.12M vs $1.35M
- Less leverageLong-term debt to assets fell2.7% → 2.5%
- Better liquidityCurrent ratio rose1.75 → 1.76
- No dilutionShare count did not rise39M → 40M
- Gross margin improvedGross margin up on the prior year14.40% → 11.48%
- More efficientAsset turnover rose0.90 → 0.97