What is Smart Sand, Inc.'s net debt?

Smart Sand, Inc. (SND) reported net debt of $19.66M in Q1 2026.

How has Smart Sand, Inc.'s net debt changed year-over-year?

Smart Sand, Inc.'s net debt decreased by 29.7% year-over-year, from $27.98M to $19.66M.

What is the long-term trend for Smart Sand, Inc.'s net debt?

Over 5 years (2020 to 2025), Smart Sand, Inc.'s net debt has grown at a -23.2% compound annual growth rate (CAGR), from $52.19M to $13.94M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Smart Sand, Inc. SND Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$93.1M+42.0%

Gross profit$6.1M+120%

Operating income-$4.9M+30.9%

Net income-$3.9M+84.1%

EPS (diluted)-$0.10+83.9%

Balance sheet

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Cash & equivalents$19.5M+281%

Total debt$39.1M+18.2%

Total equity$234.1M+6.5%

Total assets$335.7M+2.7%

Cash flow

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Operating cash flow$3.0M-65.1%

CapEx$2.2M-37.8%

Free cash flow$842.0K-83.8%

Valuation

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Market cap$215.36M+121%

Enterprise value$235.02M+62.5%

P/E9.9×-111×

P/S0.6×+0.3×

Profitability

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Gross margin11.5%-0.7pp

Operating margin-0.6%-0.2pp

Net margin6.1%+3.9pp

FCF margin7.9%+0.3pp

Returns & leverage

See full

Return on equity9.6%+6.4pp

Debt / equity0.2×0.0×

Current ratio1.7×-0.1×

Where this comes from

Calculated from Smart Sand, Inc.’s reported figures.

$39.1Mtotal debt−$19.5Mcash and equivalents=$19.66M

The official record: Smart Sand, Inc.’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Smart Sand, Inc.'s net debt?: Smart Sand, Inc. (SND) reported net debt of $19.66M in Q1 2026.
How has Smart Sand, Inc.'s net debt changed year-over-year?: Smart Sand, Inc.'s net debt decreased by 29.7% year-over-year, from $27.98M to $19.66M.
What is the long-term trend for Smart Sand, Inc.'s net debt?: Over 5 years (2020 to 2025), Smart Sand, Inc.'s net debt has grown at a -23.2% compound annual growth rate (CAGR), from $52.19M to $13.94M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.