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MARKETS / NASDAQ / SND
NASDAQ · MINING & QUARRYING OF NONMETALLIC MINERALS (NO FUELS) · SMALL CAP

Smart Sand, Inc. SND

12 fiscal years on record · USD · FY2025 reported · SEC filings only
$330.2M
▲ 6.0% YoY
$1.3M
▼ 55.0% YoY
$32.5M
▲ 199.6% YoY
In brief

What this company does

Smart Sand, Inc. is a fully integrated frac and industrial sand supply and services company that offers mine-to-wellsite proppant supply and logistics solutions to its frac sand customers. It produces Northern White 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. As of December 31, 2025, it employed 318 people, of whom 31 were employed under a collective bargaining agreement. It also offers wellsite proppant storage solutions through its SmartDepot and SmartDepotXL silo systems, the SmartBelt conveyor, the SmartPath wellsite proppant management system, and rapid deployment trailers. The company incorporated in Delaware in July 2011.

Written from the business description in Smart Sand, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 330.2M
Revenue, FY2025 · full 12-year series below
Revenue $M Net income $M
FY2025 · Revenue 330.2 · Net income 1.3
200M-20M-40M2014201620182020202220242025
Compound annual growth
+8.9%
+22.0%
+21.3%
−48.7%
−12.3%
−49.8%
+130.1%
+41.6%
+49.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +22.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
0 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -1.4% · Net 0.4%
10%20%30%-20%-40%2014201620182020202220242025
ROE
FY2025 · ROE 0.6%
200%400%2014201620182020202220242025

Each USD of equity produced 1 cents of profit this year.

Cash & shareholders
USD 6.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 32.5
20M-20M-40M2014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends 5.9 · Net buybacks 0.6
2.5M5.0MDividendsNet buybacks2014201620182020202220242025

USD 5.9M in dividends and USD 628,000.00 in buybacks — 489% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 340.0M
EquityUSD 239.7M
CashUSD 22.6M
Gross debtUSD 13.0M
Net debtUSD -9.5M
Current ratio1.76×

The company holds more cash than debt.

The 12-year record
12 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014
Revenue $B0.30.30.30.30.10.10.20.20.10.10.00.1
Operating income $B−0.00.0−0.0−0.0−0.1−0.00.00.00.00.00.00.0
EBITDA $B0.00.00.00.0−0.00.00.10.00.00.00.00.0
Income tax $B−0.0−0.0−0.0−0.0−0.0−0.00.00.0−0.00.00.00.0
Net income $B0.00.00.0−0.0−0.10.00.00.00.00.00.00.0
Free cash flow $B0.00.00.0−0.00.00.00.0−0.0−0.00.00.0−0.0
EPS, diluted $0.030.080.12−0.02−1.210.940.780.500.530.420.190.29
Dividend / sh $0.150.10··········
Payout %4421300−0········
ROE %0.61.21.9−0.3−19.114.213.910.012.914.2563.2·
Shares out B0.040.040.040.040.040.040.040.040.040.040.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 58 reconciliationsAUDITED

Reconciled in 11 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 37 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivityMining & Quarrying of Nonmetallic Minerals (No Fuels)
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2014

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