SND
Smart Sand, Inc.
SND's fundamentals are strong: revenue grew 21% and free cash flow more than tripled. At 12x earnings, it's trading above its usual 10x.
SND Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
SND's revenue, profitability, cash flow and balance sheet are all currently healthy.
SND PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 2.7x | $1.02 | -78% |
| Fair | 10x | $3.85 | -16% |
| Current | 12x | $4.58 | — |
| Expensive | 54x | $20.64 | +351% |
Historical ranges are pointers, not guarantees.
SND's PE is in its fair range at 12x.
SND Forward outlook
There aren't enough analyst estimates for SND to show an outlook.
SND Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.38 | +280% |
| Q2 2026 | $0.26 | +1200% |
| Q1 2026 | $0.55 | +$1.08 |
| Q4 2025 | $0.03 | -63% |
| Q3 2025 | $0.10 | +$0.26 |
| Q2 2025 | $0.02 | 0% |
| Q1 2025 | -$0.53 | -365% |
| Q4 2024 | $0.08 | -33% |
SND's earnings per share have fallen from their peak: $0.38 over the past year, against $1.08 in late 2020.
SND Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.3M | +21% |
| Q2 2026 | $115.1M | +34% |
| Q1 2026 | $93.1M | +42% |
| Q4 2025 | $86M | -5.8% |
| Q3 2025 | $92.8M | +47% |
| Q2 2025 | $85.8M | +16% |
| Q1 2025 | $65.6M | -21% |
| Q4 2024 | $91.4M | +47% |
SND's revenue is growing: $112M last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.2% | +2.4 points |
| Q2 2026 | 8.7% | +8.8 points |
| Q1 2026 | -5.2% | +5.5 points |
| Q4 2025 | -3.1% | -7.1 points |
| Q3 2025 | 5.8% | +14 points |
| Q2 2025 | -0.1% | -4.9 points |
| Q1 2025 | -11% | -12 points |
| Q4 2024 | 3.9% | +17 points |
SND's operating margin was 8.2% last quarter, up 2.4 points from the same quarter a year ago.
SND Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17.3M | +17% |
| Q2 2026 | -$1.4M | +$6.5M |
| Q1 2026 | $842K | -84% |
| Q4 2025 | $20.4M | +$21.2M |
| Q3 2025 | $14.8M | +302% |
| Q2 2025 | -$7.8M | -158% |
| Q1 2025 | $5.2M | +$10.7M |
| Q4 2024 | -$840K | +$8.7M |
SND generated $37M in free cash flow over the past year, about three times what it generated the year before.
SND Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -344K shares |
| 1 year | +5.3% | +2.1M shares |
| 3 years | +6.8% | +2.6M shares |
| 5 years | -2% | -822K shares |
| Available history | +1.7% | +691K shares |
SND has 41M diluted shares, up 5.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $308,000 |
| Q2 2026 | $112,000 |
| Q1 2026 | $1.2M |
| Q4 2025 | $49,000 |
| Q3 2025 | $207,000 |
| Q4 2024 | $47,000 |
| Q3 2024 | $153,000 |
| Q2 2024 | $52,000 |
SND spent $2M buying back its own shares over the past year.
SND Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | -97.4x | Net Cash |
| Q3 2025 | 1.8x | Healthy |
| Q4 2024 | 2.0x | Healthy |
| Q2 2024 | 2.1x | Moderate |
| Q1 2024 | 5.7x | High |
| Q4 2023 | 12.7x | High |
SND has more cash than debt.
SND Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.8 | Neutral |
| Stochastic | 36.1 | Neutral |
SND's weekly RSI is 48 (neutral) and its Stochastic is 36 (neutral).
SND PE vs Energy Sector
| Metric | SND | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 8.2% below |
| PE % | 57 | 61 | 4 pts below |
SND is trading at 12x earnings, in line with the Energy sector's median of 13x.
SND Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.84 | 5.4% below |
| 20 week MA | $4.87 | 6% below |
| 50 week MA | $4.74 | 3.4% below |
| 100 week MA | $3.45 | 33% above |
| 200 week MA | $2.71 | 69% above |
SND has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 69% above its 200-week average.
SND Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.47 | $1.82 | -26% |
| 2021 | $1.82 | $1.81 | -0.5% |
| 2022 | $1.81 | $1.78 | -1.7% |
| 2023 | $1.78 | $1.93 | +8.4% |
| 2024 | $1.93 | $2.14 | +11% |
| 2025 | $2.14 | $3.86 | +80% |
| 2026 YTD | $3.86 | $4.58 | +19% |
SND has finished lower in three of the last six years. It's up 19% so far in 2026.